Latino U College Access Inc

“The bylaws were amended for the following changes: 1. Update in board term and renewals to 3 years terms that can be renewed 4 times, a board member can serve a maximum of 12 years. 2. Number of director's constituting the board increased to a maximum of 18. 3. Annual meeting of board will be held in the 4th quarter of each calendar year, to elect/reelect officer and elect/re affirm committee members. 4. Establishment of special committees by resolution of a majority board quorum.”

“Latino u college access (luca) engages an independent accounting firm to prepare its annual irs form 990. Once the draft return is completed, it is reviewed in detail by luca's board treasurer and finance committee to ensure accuracy, completeness, and alignment with the organization's financial statements and policies. After the committee's review, the form 990 is shared electronically with all members of the board of directors for their review and feedback before submission. Board members are encouraged to submit any questions, comments, or suggested revisions to the treasurer or executive director to ensure the organization's continued commitment to accountability, transparency, and sound financial stewardship.”

“The conflict of interest policy applies to the board members and employees. Each covered person shall be required to acknowledge that he or she has read and is in compliance with this policy annually. When a covered person becomes aware of a proposed covered transaction, he or she has a duty to disclose the transaction in writing to the board. He or she must refrain from using their personal influence to encourage the conduct of the covered transaction. He or she must physically excuse themselves from any discussions regarding the covered transaction except to answer questions, including board discussion and decision on the subject.”

“The board of directors and ceo annually review luca's compensation policy and salary levels for senior and program management teams. The review includes an assessment of compensation ranges for comparable positions within organizations of comparable size for ceo, deputy director, and program managers. These reviews are conducted to assess luca's historical salary ranges and establish competitive levels that will aid in the recruitment and retention of key personnel while strengthening the infrastructure of the organization. Comparable organization data is obtained from the non profit new york's 2024 salary survey and the professionals for nonprofits staffing group's 2024 nonprofit salaries & trends for greater new york city. The review is documented in the board minuntes.”

“Latino u college access (luca) is committed to transparency and accountability in all aspects of its operations. In accordance with irs regulations, luca's most recent irs form 990, along with its tax-exempt determination letter and governing documents/bylaws, conflicts of interest policy, and financial statements, are available for public inspection upon request. These materials may be reviewed at luca's administrative office during regular business hours or accessed electronically by contacting the organization via email or through its website at www.lucany.org. Luca also ensures that its form 990 is available to the public on guidestar and other nonprofit information platforms.”

“Write-off of uncollectible pledges -20,000.”

“The finance committee undertook the search, due diligence and final selection of the independent accounting firm and documented that due diligence. This process has not changed from the prior years.”

“Compensation paid to key employees represents payments for services and is commensurate with the job responsibility and market wages for similar non-profit positions.”