Neighborhood Economic Development Corporation

“The day-to-day operations are manage by a new leaf, inf., an arizona non-profit corporation exempt from tax under internal revenue code section 501(c)(3). See schedule r.”

“A new leaf, inc., an arizona nonprofit corporation, is the organization's sole member”

“The member approves the board membes elected by the board of directors.”

“The member has the right to approve the appointment or removal of a director of the filing of vacancies on the board of directors. The member must also approve any amendement or repeal of the organization's articles of incorporation or bylaws or the adoption of new articles of incoporation or bylaws, the appointment or removal of any officer of the organization, the fixing of compensation of the directors for serving on the board of directors or any committee of the board of directors, the execution of any contract for goods, services or facilities, the borrowing or lending of money, the adoption of an annual budget and approval of an annual audit and tax return, and the liquidation or dissolution of the corporation, of the transfer, disposition, or encumbrance of the properties or assets of the organization other than in the ordinary course of the organization's business.”

“The organization does not have any committees that have the authority to act on behalf of the governing body.”

“The form 990 is prepared by the independent certified public accounting firm who conducted the consolidated financial statement audit an is then presented to the cfo and ceo of a new leaf, inc. For their review and discussion. Once approved by the cfo and ceo, the form 990 is distributed to the board of directors prior to filing with the irs.”

“All members of the board of directors and key leadership staff complete conflict of interest forms as required under a new leaf, inc.'s conflict of interest policy. The organization's management team monitors compliance with policies and use of vendors, agencies, professionals or other outside organizations to ensure compliance with policies. Board members recuse themselves from discussions or vote when potential conflicts of interest arise. Board members annually complete a disclosure of conflict of interest statement which is maintained by the governance committee and the ceo and forwarded to any government agencies which require such disclosure.”

“Neighborhood economic development corporation (nedco) does not compensate the officers of the organizaiton. Nedco is managed by a new leaf, inc. And nedco reimburses them for salaries. A new leaf, inc. Reports the following processes for determining the compensation of their ceo and other officers and key employees: the ceo's salary is determined annually by the exectutive committee of the board of directors in conjunction with an annual performance review. The executive committee considers comparative market data for similar positions in comparable organizations in setting the annual salary for the ceo. The ceo follows a similar process in setting the salaries of key employees and officers of the organizaiton with annual performance reivews and analysis of market data for similar positions in comparable organizaitons. The board of directors approves the salaries of key employees and other officers in the budget approval process for the organization.”

“A public copy of the form 990 and the form 1023 are available on a new leaf, inc.'s website (a related organization, see schedule r) at www.turnanewleaf.org.”

“A public copy of the form 990, form 1023, the conflict of interest policy and other governing documents are available upon request at the organization's administration office during regular business hours.”

“Other professional fees: program service expenses 54,035. Management and general expenses 12. Fundraising expenses 0. Total expenses 54,047.”

“This process has not changed from the prior year.”