Swap Community Land Trust Inc

“Management services are provided by a related organization, swap, inc. The related organization was paid $125,000 for management services in the year ending june 30, 2024. Management services included overseeing the day to day operations of the organization and performing budgets and forecasts. Please refer to part vii and schedule j for individuals who were compensated by the management company.”

“The organization made the following amendment to its certificate of incorporation: 1. The purpose or purposes for which the corporation is organized are: to promote the production of affordable housing through development, consulting, and property management as a supporting agency to stop wasting abandoned property, inc. (s.w.a.p.,inc.). All activities of the corporation are to be performed on a non-profit basis. Notwithstanding and other provisions of the by-laws the corporation shall not carry on any activities which would cause it to be disqualified as a corporation described in section 501(c)(3) of the internal revenue code of 1054 or corresponding code or provision of any future united states revenue law. 2. The number of directors constituting the board of directors of the corporation is not less than fifty-one percent (51%) of the supported agency s.w.a.p.,inc.”

“The organization does not have committees that act on behalf of the governing body.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management, and is ready to be filed with the internal revenue service, it is electronically sent to the board for approval. Once the board has approved the return, it is filed with the internal revenue service.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted 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 or by calling the organization directly.”