Kendal on Hudson Charitable Fund

“Kendal on hudson charitable fund (khcf) engaged kendal on hudson (kohud) to perform certain management and administrative duties as stipulated within the services agreement signed by both parties. The relationship between kohud and khcf is that of an independent contractor. Services performed by kohud include, but are not limited to, supervising personnel, gift acceptance services, book and record keeping services, planning and executing budgets, treasury services, general counsel and assistance in regards to insurance and related claim management as well as in privacy and security procedures and in respect to legal matters. In fiscal year 2021, kohud did not charge khcf for the services rendered.”

“During the year, the bylaws were amended. The significant changes were as follows: 1) previously, kendal on hudson (kohud), a related 501(c)(3) public charity, was the sole member of kendal on hudson charitable fund (khcf). This is no longer the case. 2) previously, khcf was required to seek and obtain the approval of kohud, on the following governance matters: a) the selection of new members of the board of directors of khcf b) dissolution, merger or consolidation with another entity division or acquiring control of another entity; and, c) amendments to the certificate of incorporation or to certain provisions of the bylaws. For all of these matters, this is no longer the case. 3) previously, there was a maximum of 5 members allowed on the khcf board of directors. This has now been updated to a maximum of 9 members.”

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of directors for discussion and comment. Each board member was provided the opportunity to comment on the information contained in the form 990 prior to its filing with the internal revenue service.”

“Each officer, director, and committee member is required to disclose any potential conflicts of interest that arise to the board of directors. Khcf monitors compliance with its conflict of interest policy through a duty to disclose as stated in the policy as well as a formal annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. The members of the board without a potential conflict make the determination as to whether a potential conflict is an actual conflict. The person with the potential conflict, or if determined an actual conflict, is recused from any discussion and vote related to the conflicted matter.”

“There are no compensated officers, directors or key employees, as such there is no formal policy related to compensation review at this time.”

“The financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”