Gesu Housing Inc.

“Gesu housing, inc. Contracts with the alliance group, an unrelated entity, to provide an executive director for management services.”

“The form 990 is reviewed by the board of directors at the next scheduled board meeting after completion.”

“Each director and officer of the organization shall annually sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, and has agreed to comply with the policy. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest to the board and be given the opportunity to explain all material facts to the board in connection with the proposed transaction or arrangement. After disclosure of the financial interest and all material facts to the board, the disinterested board members shall decide by majority vote whether a conflict of interest exists and, if so, whether to waive the conflict of interest with the interested person.”

“Top management of the organization is not compensated and therefore, no review process is necessary.”

“The organization's governing documents, and financial statements are available to the public upon request.”

“Loan forgiveness -19,500.”

“The accompanying financial statements have been prepared on the modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the united states of america (gaap). The modified cash basis of accounting differs from gaap in that contributions are recognized when received instead of when the unconditional promise to give is provided and recognizes expenses when paid, rather than in the period when the benefit or obligation is incurred. The cash method has been modified to capitalize costs associated with the construction of homes as inventory and recognize as program service expense when the houses are sold, to report debt obligations as liabilities and to report notes receivable as assets and recognizing program service expense when notes receivable are forgiven.”

“The board of directors assumes responsibility for the oversight of the audit and selection of the independent accountant. This process has not changed from the prior year.”