2023-10-12T12:15:29-05:00 2023-05-31 ERNST & YOUNG US LLP 99 WOOD AVENUE SOUTH ISELIN NJ 08830 990 2022-06-01 133307719 NBA Players Legacy Fund Inc % NBA NBAP 2019746771 C/O NBA 645 FIFTH AVENUE NEW YORK NY 10022 Neil Aaron Treasurer 2019746771 2023-10-05 true Neil Aaron XXX-XX-XXXX MICHAEL R SALES P01770943 7325164200 2 2022 2023-04-26 12:10:37Z ANNE CORRY 645 FIFTH AVENUE NEW YORK NY 10022 1029601 false X N/A X 1985 NY NBA PLAYERS LEGACY FUND INC. WAS CHARTERED TO PROVIDE ASSISTANCE, ON THE BASIS OF NEED, TO INDIVIDUALS ASSOCIATED WITH PROFESSIONAL BASKETBALL. 4 4 3 6 0 0 1000000 1000000 0 0 557 29601 0 0 1000557 1029601 694331 947734 0 0 156527 155267 0 0 0 58570 105502 909428 1208503 91129 -178902 1504620 1361991 139048 157821 1365572 1204170 NBA PLAYERS LEGACY FUND INC. 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IN MONTHS WHERE A BOARD MEETING IS NOT HELD, THE BOARD VOTES VIA E-MAIL. THE EXECUTIVE DIRECTOR DISTRIBUTES A DOCUMENT SUMMARIZING THE GRANTS REQUESTED AND ALL FOUR OF THE BOARD MEMBERS MUST APPROVE VIA E-MAIL FOR THE GRANT TO BE MADE. THE NBA PLAYERS LEGACY FUND INC. FOLLOWS UP WITH GRANT RECIPIENTS TO ENSURE THAT FUNDS ARE SPENT FOR THEIR INTENDED PURPOSE. ESTIMATED NUMBER OF RECIPIENTS SCHEDULE I, PART III, LINE 1 THE TOTAL NUMBER OF RECIPIENTS WHO RECEIVED CAREER AND FINANCIAL SERVICE ASSISTANCE IS ESTIMATED AT 40. THE FUND OFFERS THIRD-PARTY CAREER COUNSELING SERVICES AND PURCHASES FINANCIAL ADVISORY AND BUDGET ASSISTANCE SOFTWARE. REGARDING THE SOFTWARE PURCHASED, 40 LICENSES ARE GRANTED FOR A 12 MONTH PERIOD. THE FUND PROVIDES USER ACCESS TO THE SOFTWARE BASED UPON NEED WHICH MAY NOT EQUATE TO A FULL 40 USERS ON AN ANNUAL BASIS. DESCRIPTION OF CLASSES OF MEMBERS OR STOCKHOLDERS FORM 990, PART VI, LINE 6 THE MEMBERS OF THE NBA PLAYERS LEGACY FUND INC. ARE THE NATIONAL BASKETBALL ASSOCIATION AND THE NATIONAL BASKETBALL PLAYERS ASSOCIATION. DESCRIPTIONS OF CLASSES OF PERSONS AND THE NATURE OF THEIR RIGHTS FORM 990, PART VI, LINE 7A AS MEMBERS OF THE NBA PLAYERS LEGACY FUND INC., THE NATIONAL BASKETBALL ASSOCIATION AND THE NATIONAL BASKETBALL PLAYERS ASSOCIATION HAVE THE AUTHORITY TO ELECT MEMBERS OF THE GOVERNING BODY. COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF GOVERNING BODY FORM 990, PART VI, QUESTION 8B THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. PROCESS USED TO REVIEW FORM 990, PART VI, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE FORM 990 IS THEN REVIEWED BY THE TAX DEPARTMENT OF THE NATIONAL BASKETBALL ASSOCIATION IN CONJUNCTION WITH THE TREASURER OF THE NBA PLAYERS LEGACY FUND. MONITORING AND ENFORCEMENT OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C ON AN ANNUAL BASIS, EVERY PERSON WHO CURRENTLY IS A DIRECTOR, OFFICER, MEMBER OF SENIOR MANAGEMENT, OR WHO OTHERWISE HAS THE ABILITY TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE ORGANIZATION, IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING ANY ACTUAL, POTENTIAL OR APPARENT CONFLICTS, AND AFFIRMING THAT THEY HAVE READ, UNDERSTAND, AND HAVE AND WILL CONTINUE TO ADHERE TO THE CONFLICT OF INTEREST POLICY. IF THE BOARD OR ANY COMMITTEE OF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A COVERED PERSON HAS FAILED TO COMPLY WITH THE CONFLICT OF INTEREST POLICY, THE BOARD RESERVES THE RIGHT TO FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES. COMPENSATION DETERMINATION PROCESS FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE COMPENSATION FOR THE EXECUTIVE DIRECTOR, THE NATIONAL BASKETBALL ASSOCIATION AND THE NATIONAL BASKETBALL PLAYERS ASSOCIATION CONTACTED A NUMBER OF OTHER SIMILAR ORGANIZATIONS FOR COMPARABLE COMPENSATION DETAILS. THE INFORMATION WAS ANALYZED AND DISCUSSED DURING THE INTERVIEW PROCESS. COMPENSATION FOR THE EXECUTIVE DIRECTOR OF THE NBA PLAYERS LEGACY FUND INC. WAS DETERMINED BASED ON FEEDBACK, DATA COLLECTED FROM OTHER ORGANIZATIONS, THE INDIVIDUALS PART-TIME ROLE, AND RELEVANT WORK EXPERIENCE. AVAIL OF GOV DOCS, CONFLICT OF INTEREST POLICY AND FIN STMTS TO PUBLIC FORM 990, PART VI, LINE 19 THE ORGANIZATION PROVIDES COPIES OF ITS FORM 990 UPON REQUEST. FORM 990, PART XI, LINE 9 Reduction in grants payable as of 5/31/23, as three grantees failed to fulfill requirements necessary to receive funding: $17,500