Ifh Foundation

“The sole member of the organization is the institute for family health.”

“The institute for family health has the ability to appoint/remove the board members.”

“The sole member shall have the sole power to make, alter, amend and repeal the bylaws of the organization.”

“The organization does not have any committees with authority to act on behalf of the board.”

“Ifh foundation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, it is reviewed by executive management of the parent organization, the institute for family health, prior to the submission of the return. It is electronically sent to the board of director for their review and approval. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Ifh foundation complies with conflict of interest policy of the parent organization: the institute for family health. The conflict of interest policy is annually monitored, requiring all of the organization's the board of directors, all management and senior employees to disclose any financial interest that may be an actual or possible conflict of interest to the organization. All actual and potential conflicts of interests shall be disclosed by board of directors, all management and senior employees to the compliance officer through the annual disclosure form and/or whenever a conflict arises. The disinterested members of the board shall make a determination as to whether a conflict exists and what subsequent action is appropriate (if any) with the interested board member(s) recused from participating in debates and voting on the matter. The board shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy. In addition, on an annual basis the organization requires all board members and members of the senior management team to sign a financial conflict of interest policy with the organization, and the signed policies are documented in board meeting minutes.”

“The organization makes its form 990 available for publication inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, form 990, conflict of interest policy, governing documents, financial statements and faculty and staff handbooks are available upon request at 2006 madison ave, new york, ny 10035.”

“The ifh foundation was established for purposes of devoting and applying its assets exclusively for the support and benefit of the institute for family health. The applicant's principal project at this time is the ownership, renovation and leasing to the institute for family health of a community health center in harlem, new york community. For nearly thirty years a key provider of health care to residents of the harlem community of new york city was north general hospital. Unfortunately, north general hospital entered bankruptcy in 2010 and closed shortly thereafter. The hospital's closure was a serious blow to the harlem community. The dormitory authority of new york ("dasny"), a governmental agency that provides bond financing for numerous non-profit facilities in new york was a significant secured creditor of north general hospital, acquired the hospital's real property in the bankruptcy proceedings. This special purpose subsidiary is called nghp holding corporation ("nghp"), a new york public benefit corporation. Two of the properties acquired by nghp in the north general hospital bankruptcy are 1824 madison avenue, new york, new york and 1879 madison avenue, new york, new york. The institute for family health, already widely recognized as one of the leading providers of community health care in new york city, proposed to convert 1824 madison avenue into a federally qualified health center - community health center. The new site officially opened to service the underserved community in december 2012.”

“Write off of debt issuance costs -1,440,721.”

“The process for assuming responsibility over the audit of the organization and for the selection of an independent accountant has not changed since the prior year.”