Purchase Housing Corporation II

“The corporation ("phc ii") has entered into a management agreement with purchase college - suny. Under this agreement, purchase college - suny provides the operation, maintenance and management of the residence hall. The secretary of the corporation receive none of their compensation from phc ii and receive all of their compensation from purchase college - suny. These persons serve in similar roles for other campus foundations and related entities, but the compensation is not specifically related to any service performed for the benefit of phc ii or to any other campus foundation or related entity. The treasurer receives all of her compensation from purchase college - suny, however, the entirety of the treasurer's compensation is reimbursed to purchase college - suny from purchase college foundation housing corporation and phc ii.”

“Prior to filing form 990, it is provided electronically to the members of the board of directors for their personal review and questioning. Subsequently, and prior to the filing of the 990, the audit committee will conduct a review of all form 990s with the auditors and tax preparers present and participating with management in the presentation of these filings.”

“The conflict of interest policy provides for annual written acknowledgement by each trustee or officer that each has read and is familiar with the conflict-of-interest policy and as to whether or not the trustee or officer has a conflict of interest. If a conflict exists, the complete details of the conflict are to be described in writing and submitted to the board chair or to the president. The board chair or president shall refer the issue to the executive committee or other board committee (the 'body') having decision-making authority over the substantive matter in question. The trustee or officer who discloses a direct or indirect financial interest in a proposed or existing contract, transaction or arrangement may make a presentation and respond to questions by the body, but after such presentation, he or she shall leave the meeting during the discussion of, and vote on, the contract, transaction, or arrangement that results in the conflict of interest. Each year at the board of trustee's annual meeting, the conflict-of-interest policy is distributed and written acknowledgements are submitted. During the course of the year, financial results and transactions are reviewed for reasonableness and appropriateness, including with regard to any potential for there being a conflict.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it 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 735 anderson hill road, purchase, ny 10577”

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