Open New York Education Inc

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

“The form 990 is prepared by outside accountants and reviewed by the organization's financial consultants and the board of directors.”

“Annually, each member of the board of directors, officer, executive-level employee, or non-director member of a committee with governing board-delegated powers (covered persons) signs a conflict of interest attestation statement. A covered person who has an actual or possible conflict of interest must disclose the existence and nature of his or her relationship or financial interest to the board of directors or the committee considering the proposed transaction or arrangement with the corporation. After disclosure of the potential conflict of interest and all material facts, and after any discussion with the interested covered person, such covered person shall leave the portions of all board or committee meetings at which the existence of a conflict of interest or the proposed transaction or arrangement with the corporation is considered. The remaining members of the board or committee shall then discuss and vote on whether a conflict of interest exists and shall seek the advice of legal counsel where appropriate in making such a determination. Once a conflict of interest has been determined to exist by the board or committee considering the proposed transaction or arrangement with the corporation, the board or committee shall evaluate the transaction. After consideration, if the board or committee determines that a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee may decide to enter into a transaction or arrangement involving a conflict of interest if the board or committee determines by a majority vote of disinterested members that: (a)the transaction or arrangement is in the best interests of the corporation; and (b) in reliance on the appropriate data as to comparability, the terms of the transaction or arrangement are fair and reasonable to the corporation.”

“Compensation is established by open new york, a related organization. Executive director compensation is determined by the board as part of the annual budgeting process. Compensation is determined using prevailing market rates. The last compensation review took place in december 2024.”

“The organization does not makes its governing documents, conflict of interest policy or financial statements available to the public.”

“This return is being amended to update compensation details. The following parts of the form 990 are impacted by these changes: form 990 parts i, iv, vii, ix, schedule j, schedule o and schedule r.”