Ndc Housing and Economic Development Corporation

“National council for community development is the sole voting member of ndc housing & economic development corporation.”

“National council for community development as the sole voting member of ndc housing & economic development corporation has the power to elect and remove directors.”

“The form 990 was prepared by outside tax preparers in consultation with management and auditors. A draft of the full form 990 was provided to the entire board for review. A complete copy of the final form 990 was provided to the organization's entire board before it was filed with the irs.”

“All members of the hedc board of directors and executive employees are required to annually execute a conflict of interest policy and compensation guidelines acknowledgement stating that they have received, read and understand, and agree to comply with the conflict of interest policy and compensation guidelines. The conflict of interest policy and compensation guidelines document requires board members and executive employees to disclose any potential conflicts of interest immediately. The chairperson of the board will upon notification of such an event appoint a disinterested person or committee to investigate alternatives to the proposed transaction and violations of the conflict of interest policy can result in appropriate disciplinary and corrective action. Also, all board members by executing the conflict of interest policy and compensation guidelines document acknowledge that they share the responsibility of hedc to remain faithful to the organization's charitable purposes.”

“The documents are available by request.”

“All of the organization's board members work for the parent organization national council for community development. The independent board of directors of the parent oversees the organization's operations and actions.”

“C. To initiate and carry out activities to stimulate economic development in economically depressed areas of the us. In particular, to undertake activities that: - relieve poverty and lessen neighborhood tension caused by a lack of jobs in deteriorated and depressed areas by providing training opportunities for the unemployed and creating job opportunities for disadvantaged groups. - combat community deterioration and eliminate blight by undertaking activities that stimulate the establishment of new businesses among disadvantaged groups and which rehabilitate and revive existing businesses operated by disadvantaged groups.”

“Third party closing fees: program service expenses 990,879. Management and general expenses 0. Fundraising expenses 0. Total expenses 990,879. Consulting: program service expenses 132,073. Management and general expenses 0. Fundraising expenses 0. Total expenses 132,073.”

“Adjustment due to change in accounting principle -518,639.”

“The process has not changed from the prior year.”

“The amounts reported on lines 7-9 related to expenses paid by the parent company (national council for community development ein 13-6532871) and allocated to the organization.”