New York Equity Fund Inc

“National equity fund, inc. Is the parent and sole voting member of new york equity fund, inc. National equity fund, inc. Is a section 501(c)(4) tax-exempt organization whose mission is to facilitate low-income housing development and community development. National equity fund, inc. Approves and appoints all board members to new york equity fund, inc.'s board.”

“Same as line 6 explanation.”

“The form 990 for new york equity fund, inc. Is prepared by an independent accounting firm based on information provided by the organization. The draft return is then reviewed by the finance and legal departments, and any appropriate changes are made. The final draft of the return is then sent for review and approval to the audit and budget committee of the board of directors of national equity fund, inc., the parent organization of new york equity fund, inc. The directors of new york equity fund, inc. Have delegated responsibility to review the form 990 to the audit and budget committee of the parent organization. A copy of the final form 990 was sent to each member of the full board of new york equity fund, inc. Prior to filing with the internal revenue service.”

“New york equity fund, inc. Has a conflict of interest policy covering its board members and officers. All directors and officers are required to certify their compliance with the company's conflict of interest policy, and disclose any potential conflicts annually. Any changes in status during the year should immediately be reported to the general counsel. The general counsel is responsible for reviewing the certifications and any disclosures. If a potential conflict of interest is reported, it is the general counsel's responsibility to determine whether or not a conflict does, in fact, exist and to review the situation with the ceo, the chairman of the board, and the chairman of the audit and budget committee to determine how the issue should be resolved. A conflicted officer or board member would be excluded from participating in deliberations and decisions concerning the matter.”

“New york equity fund, inc. Does not have any employees. Its operations are carried out by employees of its parent organization, national equity fund, inc., a section 501(c)(4) tax-exempt organization. New york equity fund, inc. Does not reimburse national equity fund inc. For the compensation related to these employees. Compensation for senior management is determined by the talent development and compensation committee of national equity fund, inc.'s board of directors. No individuals with a conflict of interest may be involved in the compensation determination process. National equity fund, inc. Annually engages independent compensation consultants to provide comparability data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The minutes of the talent development and compensation committee document the committee's deliberations and decisions regarding compensation. Due to the instructions for line 15, the organization must answer "no" since compensation is not paid directly from the organization.”

“New york equity fund, inc's consolidated annual report is available on the web site of its parent organization, national equity fund, inc. It does not currently make its governing documents or conflict of interest policy available to the public.”

“Consulting fees: program service expenses 482,865. Management and general expenses 109,302. Fundraising expenses 0. Total expenses 592,167.”