Latino U College Access

“Karen herrero and marie herrero have a family relationship.”

“The bylaws were amended on may 26, 2017 to reflect a decision by the board of directors to increase the maximum number of board members from 11 to 15. This amendment is reflected in section 2 of the bylaws.”

“Latino u has its form 990 prepared by an outside accounting firm. It is the policy of latino u that the finance committee is responsible for the final review of irs form 990 that is to be filed on behalf of the organization. After the finance committee has reviewed the form, it is presented to the board for review and approval.”

“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.”

“In fiscal year 2017, the board of directors and finance committee maintained the executive director's salary level and value established in 2016. A salary value for the ed was established at $70,000. This was calculated from the february, 2015 fairfield/ westchester non-profit compensation and benefits survey results administered by inspirica, inc. The finance committee who conducted the salary review is a 3-person committee chaired by the treasurer and two other independent board members. The ed is not a member of this committee. The executive director's salary was set at $60,000 with the remaining portion to be allocated as in-kind value donated by the executive director. The finance committee first reviewed, discussed and approved the ed's compensation. Then it was put to a vote by the board. The board vote was documented in the board meeting november 30, 2017 minutes.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 75 virginia road, white plains, ny 10603...or by calling the organization directly at (914) 839-0010.”

“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 employees related to board members is commensurate with the job responsibility and market wages for similar non-profit positions. The organization also received inkind contributions for 2017 of $73,820. These donated services are not considered income or expense for 990 purposes.”