Audit Committee

Overarching Committee Mission:

The Audit Committee assists the board of directors in overseeing (a) the selection, retention, and performance of Philanthropy New York’s independent auditors; (b) the quality and integrity of Philanthropy New York’s financial reporting; (c) its fiscal controls and tax and regulatory compliance; and (d) compliance with its code of conduct.

Committee Leadership: 

• Chair: Jacqueline Jones

Priorities/Goals:

• Select and retain auditors
• Review the scope of the audit
• Review the audit results
• Review the 990 before filing
• Annually review compliance with the Conflict of Interest and Whistleblower policies
• Contribute to the Administrative and Finance policies of Philanthropy New York

Terms:

Members serve a two-year term, commencing in September each year

Key Responsibilities:

Attend three meetings a year in November, February, and May. 

• Read and review the audit plan
• Read and review the audited financial statements
• Read and review the 990

Membership:
Philanthropy New York is seeking committee members with a background in accounting, tax and regulatory compliance, and operations to join the committee.