The Meadows Real Estate Management and Development Corporation

“The Form 990 was prepared by the Organization's Chief Financial Officer prior to filing with the IRS. In addition, a copy of the final draft of the Form 990 was provided to the Board of Directors prior to filing with the IRS.”

“All Board members receive a copy of the Organization's by-laws which contain both a conflict of interest statement along with a confidentiality agreement for their review and signature to acknowledge their understanding of the conflict of interest policy. Board members are asked annually to return the signed documents to the Executive Office to be kept with the Organization's records. The Executive Assistant to the President/CEO reviews all completed statements to verify they have been completed and if any conflicts have been disclosed. If any conflicts are noted, they are brought to the attention of the Board of Trustees for resolution. Individuals with a conflict do not participate in any actions taken by the Board of Trustees pertaining to resolution of the conflict.”

“Magdalena Rodriguez is the Chief Executive Officer of the Community Renewal Team, Inc. (CRT) She has an employment contract with CRT that provides compensation and fringe benefits. The CRT Board of Trustees reviews the President's performance on an annual basis. Board of Trustee members complete and submit a questionnaire on the President's performance to the Chairperson f the Board of Trustees. The Chairperson calls a meeting of the Board of Trustees Executive Committee to review and discuss the findings and comments regarding the President's performance and to discuss compensation prior to the execution of an employment contract. The Board of Trustees, acting through its compensation committee retains an independent compensation consulting firm that performs a compensation study which considers the intermediate sanctions provisions of Internal Revenue Code Section 4958 (IRC 4958). Based on the independent compensation consulting firm's work, a certification is issued to CRT's Board of Trustees indicating that the compensation provided under the employment contract is considered reasonable under IRC 4958. Upon completion of the compensation analysis, a recommendation is the presented to the Board of Trustees for a final action by voting to approve the recommendation.”

“The Organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. The annual audit is posted to the Organization's website.”

“(Excerpted) from the Meadows Real Estate and Development Corporation by-laws approved (4/15/2003) Section 1: In furtherance of the purposes stated in its Certificate of Incorporation, the Corporation shall perform the function of a community action agency in compliance with the rules, regulations, directions, and guidelines of Federal, State, and Local funding sources. More specifically, the Corporation shall: (A) conduct research and review the housing requirements of people residing within or without the State of Connecticut and/or any locations as approved by the Board, with special emphasis on the needs of the homeless, elderly, and economically disadvantaged. (B) Develop, build, sponsor, or own affordable housing facilities for economically disadvantaged aged low to moderate and intermediate income persons who might not otherwise obtain appropriate housing. (C) Construct housing to enhance communities and constituencies. (D) Coordinate community-related real estate projects that include housing, commercial and retail establishments in order to promote economic development. (E) Promote integration housing. (F) Provide technical assistance, in an advisory capacity to the Community Renewal Team, Inc. (G) Involve itself with other related housing activities as recommended by the Board of Directors. Section 2: The Corporation is organized exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code notwithstanding any other provisions of these articles, the Corporation shall not be concerned with any activities disallowed: (A) by a corporation exempt from Federal Income Tax under Section 501(C)(3) of the Internal Revenue Code of 1986 (or corresponding provision of any future United States revenue law; or (B) by a corporation contribution to which are deductible under Section 170 (C)(2) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States internal revenue laws).”