Cec Stuyvesant Cove Inc

“The organization has its form 990 prepared by an outside accounting firm. After review by the chief operating officer, finance director, chief executive officer, and board treasurer, a complete copy is provided to all members of the organization's governing body for their review and comment prior to filing.”

“Solar one has a conflict of interest policy that applies to the board members, officers, and key employees. On a yearly basis, each individual is required to complete and sign a conflict of interest statement, disclosing any interests that may lead to a conflict. If a conflict of interest exists, the interested party must notify the full board for its review of the situation. If the board determines that an actual conflict of interest exists, the interest party is notified immediately and cannot vote on or take part in any decisions about such related transactions. This process is documented in the minutes of the board meetings.”

“The ceo's compensation is reviewed by the finance committee and approved by the board of directors after comparing the compensation with executive directors of other organizations of the same size and type, taking into account the geographic location and the unique challenges and responsibilities of the organization, using the most current version of form 990s available on guidestar for similar sized organization, and using the most recent guidestar compensation report. This process is documented in the minutes of the board meeting and was last undertaken in 2022.”

“Solar one makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on its website, guidestar.org and other similar types of websites. In addition to forms 990, the conflict of interest policy and financial statements are available upon request.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Contract services: consultants: program service expenses 31,393. Management and general expenses 114,658. Fundraising expenses 143,398. Total expenses 289,449. Program subcontractors: program service expenses 1,809,343. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,809,343. Peo services fee: program service expenses 60,971. Management and general expenses 10,425. Fundraising expenses 5,310. Total expenses 76,706. Per diem educators fee: program service expenses 116,036. Management and general expenses 0. Fundraising expenses 0. Total expenses 116,036. Outside training services & exam fees: program service expenses 25,610. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,610.”

“The organization has an audit committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from prior year.”