Gates Gardens Housing Development Fund Company Inc.

“The company has entered into a property management agreement with an affiliated company, which provides for rental management, repairs and supervision. The fees charged by the property manager are regulated by hud and ammounted to $44 prior to august 1, 2013 and $59.50 thereafter per unit per month plus allowable expenses. Property management fees expense for the years ended december 31, 2013 was $44,268. Please refer to part vii, as members of the board are compensated by this related organization.”

“Before the prepared form 990 was filed, it is made available electronically to every member of the board to review and was discussed with management at a meeting of the board of directors.”

“Annually and upon first joining rbscc, each director, officer and employee is provided with a copy of rbscc's conflict of interest policy. The policy requires such individual to sign an annual disclosure form of any interest that could give rise to a conflict. Directors, officers and key employees are required to sign a more comprehensive disclosure form than are employees. The policy and disclosure form are distributed and collected by the hr department and submitted to the compliance officer for review. All potential conflicts are reported to the compliance officer who reports directly to the audit committee of the board of directors. Potential conflicts of interest involving directors are reported to the full board of directors. A director involved, directly or indirectly, in an actual or potential conflict of interest transaction may not participate in any discussion of the relevant transaction.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 217 wyckoff ave, brooklyn, ny 11237.”

“Payroll service fees: program service expenses 0. Management and general expenses 11,411. Fundraising expenses 0. Total expenses 11,411. Contracted services: program service expenses 16,943. Management and general expenses 5,268. Fundraising expenses 0. Total expenses 22,211. Security: program service expenses 110,116. Management and general expenses 0. Fundraising expenses 0. Total expenses 110,116.”