Fedcap Nyc Inc

“Fedcap nyc, inc.'s sole member is the fedcap group, inc.”

“The organization's bylaws reserve the power to the sole member to appoint, replace or remove the board of directors (for any reason at any time).”

“Certain acts of the organization must also be approved by affirmative vote of 2/3 of the board members of the sole member, including, the power to: - amend, restate, or revoke its certificate of incorporation or its bylaws; - permit or approve its merger or consolidation with or into any other entity or permit or approve its conversion into another form of entity; - adopt a budget or make a material change to an existing budget; - divest itself of any line of business, or any other business entity, owned or controlled by it; - permit or approve the filing by it of a petition for bankruptcy or the appointment by it of a receiver or commencement of any other insolvency or reorganization proceeding involving it or any of its assets; - permit or approve its entering into of any guaranty or surety arrangement for the benefit of any other entity; - permit or approve the sale of all or substantially all or any material part of its assets; - commence a lawsuit or other legal proceeding against any person; - admit a new member; - permit or approve the acquisition of any business or entity; (m) permit or approve the incurring of any indebtedness for borrowed money; or - lease, sublease, acquire, sell or otherwise engage in a real property transaction”

“Organization's process used to review form 990 the form 990 was prepared by an independent accounting firm in conjunction with fedcap's financial department. The form 990 was reviewed by senior management and then distributed to the full board of trustees for review and comment before it was filed with the internal revenue service.”

“Conflict of interest policy monitoring & enforcement fedcap nyc, inc. Adopted the conflict of interest policy of its parent organization, fedcap group, inc. The conflict of interest policy is distributed to the board of directors and to all employees on an annual basis. Individuals are expected to sign the conflict of interest policy and confirm that no conflicts exist. Violations of the policy will subject an employee to disciplinary action or immediate discharge. Employees who have knowledge or suspicion of improper conduct or activities by other employees or outside parties doing business with fedcap, are expected to immediately bring it to the attention of the ceo or director of human resources. Form 990, part vi, section b, line 13: fedcap nyc, inc. Adopted the whistleblower policy of its parent, the fedcap group, inc. Form 990, part vi, section b, line 14: fedcap nyc, inc. Adopted the document retention policy of its parent, the fedcap group, inc.”

“Fedcap nyc, inc. 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 financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“Fedcap nyc was formed to provide workforce development opportunities for people who face barriers to economic well-being. The individuals facing barriers to employment and economic well-being that fedcap serves includes individuals with physical and developmental disabilities, youth transitioning from foster care, veterans, older workers, the previously incarcerated, the homeless, those struggling with mental illness and addiction, low-income individuals and families, and the chronically unemployed.”

“The fedcap group provides certain corporate services such as finance, human resources, payroll, legal and information technology, to its affiliated organizations. These services are reimbursed at cost; in fiscal 2024, fedcap nyc, inc. Reimbursed $1,012,084 to the fedcap group for these corporate services.”