San Gabriel Valley YMCA

“John hsu and anne ma have a business relationship.”

“A final draft of the form 990 is provided to the organization before it is filed and is reviewed by management of the ymca-oc. The entire draft will be provided to the board for review before it is finalized.”

“San gabriel valley ymca - conflict of interest policy why is a conflict of interest policy important? 1. Key staff and volunteers must make decisions based on the best interests of the ymca, not decisions that, directly or indirectly, further their own interests or the interests of a third party. 2. This duty of loyalty is a legal duty that is imposed under state and federal law. 3. A conflict of interest policy protects both the ymca and its leaders by assuring that potential conflicts are timely and appropriately addressed. 4. The irs form 990 asks whether your organization has a written conflict of interest policy. How do potential conflicts arise at ymcas? 1. A potential conflict of interest can arise when the ymca is considering taking some action that also benefits the private interests of an influential person at the y (i.e. Board and committee members, key employees). For example, a contract with a company owned by a board member, or his/her family member, could create a conflict of interest. 2. Even if the person thinks he/she can be impartial, it is important to report the potential conflict so that the ymca is aware of it before any action is taken. Resolving potential conflicts of interest 1. It is very important that any potential conflict be disclosed and resolved before the board takes action on the matter where a conflict may exist. 2. Typically, disclosure is made as a written response to an annual "conflict of interest questionnaire". Use the disclosure questionnaire to inquire about potential conflicts on an annual basis. 3. When potential conflicts are disclosed, have an independent body evaluate whether or not they pose a true conflict. 4. This evaluation should not involve the interested party. 5. The independent review and the decision reached must be documented in the minutes of the meeting. Conflicts aren't wrong; not reporting them is 1. Because ymca leaders are also often business leaders who have relationships with the ymca, it is not unusual for potential conflicts of interest to occur. 2. It is important to report all potential conflicts of interest so that the ymca has complete transparency when making decisions. 3. If a ymca makes a decision without knowing all the facts, it can lead to public embarrassment, legal penalties and loss of public trust. 4. There is nothing wrong with having a conflict of interest; it is wrong not to disclose it. 5. A reporting procedure and annual questionnaire encourages ymca leaders to be forthcoming in notifying the ymca of any potential conflict of interest so that the ymca's integrity and reputation are not harmed by a perception of inappropriate conduct. Duty of continuous reporting 1. All ymca leaders must understand that the "duty to disclose" is continuous. 2. If any potential conflict of interest arises after the questionnaire has been submitted, it should be disclosed in writing to the appropriate person at the y. 3. Failure to timely and adequately respond to the questionnaire, or to make any subsequent disclosure, is grounds for board action.”

“The hiring and compensation of key or highly compensated employees is determined by the board of directors based on employee qualifications, reasonableness, and comparability data. For fye 6/30/15, there were no members of top management. Beginning in march 2014 the organization operated under a management agreement with ymca of orange county. Yoc was compensated a total of $3,500 per month under that agreement. No individual of ymca of orange county was compensated by san gabriel valley ymca. No member of the board of directors was compensated by san gabriel valley ymca.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“In 2015, the ymca of oc entered into an asset transfer agreement with the ymca of san gabriel valley ("sgvy"). The board of directors at sgvy have begun the process of liquidating the organization assets and transferring certain rights and assets to the ymca of oc. In 2015, the sgvy transferred ownership of camp elk as part of an asset transfer agreement, which amounted to $300,000 in fair market market to ymca-oc, and $329,000 book value deletion from sgvy. The ymca of oc was granted the right to operate camp elk and the right to take over operations of the ymca of sgv's aces programs. Sgv still legally existed as of june 30,2015 but upon dissolution of the entity, the remaining assets will be transferred to the ymca-oc.”

“The san gabriel valley ymca was acquired by the ymca of orange county in may 2015. Prior period adjustments of $18,413 were made to fye 6/30/14 after the 2013 tax return was filed and before the acquisition. Those responsible for the adjustment were no longer with the organization during the preparation of the 2014 tax return. Details on the purpose of the prior period adjustment are not available.”