Queens College Special Projects Fund Inc.

“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 Trustees for discussion and comment. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. FORM 990, PART VI, SECTION B, LINE 12 The Fund operates under the conflict of interest policy of its parent organization, Queens College of CUNY. Each officer, director, trustee and key employee of the College is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the College. The College monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“The Fund operates under the document retention policy of its related organization, Queens College of the CUNY.”

“The Fund does not compensate any of the individuals reported in Part VII of the Form 990; all compensation is paid by a related organization, Queens College of the City Universtiy of New York. Queens College is a municipal employer and all salaries are governed by contracts negotiated between the State, New York City and Trade and Municipal unions.”

“The organization makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's audited financial statements, governing documents and conflict of interest policy will be available to the public upon request and at management's discretion. Form 990, Part VII, HOURS WORKED FOR RELATED ORGANIZATION All individuals reported on Part VII of the Form 990 receive their compensation from a related organization, Queens College of CUNY. These individuals spend approximately 40 to 50 hours per week providing services to the related organization. Form 990, Part VIII, Line 6 Student Housing Fees reported on Line 2 represent revenues the organization receives in pursuit of its primary exempt purpose: student housing. Amounts reported on Line 6 of Part VIII represent fees collected for leasing out the facility for educational summer camps and other activities. The organization provides no services to the lessees and the conferences are mission-related insofar as they are educational in nature.”

“Queens College Special Projects, Inc. does not have its own payroll; any employees providing services to the organization are employed by Queens College of CUNY.”