The Shores at Peconic Landing Assisted

“Peconic landing at southold, inc. Shall be the sponsor of the organization.”

“Peconic landing at southold, inc. Has the ability to appoint board members.”

“Peconic landing at southold, inc. Has the ability to remove board members and approve amendments to the bylaws of the organization.”

“The organization does not have any committee to act on behalf of its governing body.”

“The organization 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, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the members of the finance committee for any comments. 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 by the committee.”

“In the event a member of the board of trustees of the shores, or the member's spouse, child, parent or sibling, as a result of a transaction, investment or activity (herein referred to as a matter) with or involving peconic landing at southold, inc., peconic landing housing association cooperative, inc., peconic landing foundation, inc., the shores, inc. (referred to in the aggregate as peconic landing) will receive any profit or gain, whether directly or indirectly, then the member shall promptly disclose that interest to the board and shall not participate in any decision on such a matter. The member shall not vote on, and shall remove him or herself from the meeting discussing such a matter. The member shall also disclose any known significant reason(s) that such a matter might not be in the best interests of the shores. The member's abstention from the meeting and vote and the reason for it will be recorded in the minutes of any meeting at which such a matter or matters are discussed. Each member is required to submit an annual disclosure statement at the beginning of each calendar year.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is available on guidestar.org and other similar types of websites. In addition, the financial statements, articles of incorporation, form 990, conflict of interest policy, and by-laws are also available upon written request or by calling the organization directly.”

“The organization's sole member, peconic landing at southold, inc., has a committee that assumes responsibility for oversight of the audit of the organization's financial statements and selection of an independent accountant. This process did not change from the prior year.”