Msc Langhorne LLC

“Members and governing body new england carpenters guaranteed annuity fund and new england carpenters pension fund are the members and each own 50% of the organization. Form 990, part vi, line 7a directors shall be elected by the members. Form 990, part vi, line 7b there are several matters that require approval by the members, including acquisition, disposition and refinancing of property. Form 990, part vi, question 11b process used by management &/or governing body to review 990. The form 990 is reviewed by management prior to filing. Form 990, part vi, line 19 availability of governing documents the organization does not make this information available to the public.”

“Compensation from related organizations msc langhorne, inc (the "corporation") is owned 100% by the new england guaranteed annuity fund and the new england carpenters pension fund (collectively "nec"). Nec engaged washington capital management (f/k/a great point investors) to manage the properties that are owned by the corporation. As part of this engagement, some of the officers of washington capital management were appointed by nec to serve as officers of the corporation, to allow them to conduct day to day business and seek out investment opportunities in an efficient manner on behalf of nec. Though there are many decisions made by these officers, nec must approve all major transactions. These transactions include, but are not limited to, acquisitions, dispositions and refinancing of the assets. Nec chooses the management firm and negotiates the contracts with such firm. The corporation is simply informed of the choice and billed according to this pre-negotiated contract. The officers of the corporation did not receive any compensation directly from the corporation. Their compensation from washington capital management is determined entirely within the washington capital management structure and not based directly upon the contract with nec. Washington capital management has many other clients in addition to nec.”