Latino U College Access

“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.”

“On december 15, 2019 the board of directors and ceo reviewed our compensation policy and salary levels for senior management and program management team. The review included an assessment of compensation ranges for comparable positions within organizations of comparable size for ceo, deputy director, and program managers. The review was conducted to assess latino u's historical salary ranges and establish competitive levels for 2020 that will aid in recruitment and retention of key personnel while strengthening the infrastructure of organization. Founder and ceo volunteered to accept a salary level below industry average to allow for the recruitment of a strong deputy director. Remaining portion of ceo salary may be allocated as an in-kind value of professional services in 2020. Comparable data was obtained from the "valuing our nonprofit sector compensation and benefits survey, southern new england and westchester county, ny, 2017." the board of directors discussed and motioned for approval to increased salary ranges at the 12/5/2019 board meeting. A record of such motion and approval is in the 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 on 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 2019 of $15,136. These donated services are not considered income or expense for 990 purposes.”