St Hedwig'S Gardens Housing Development Fund Company Inc

“The organization has a sole corporate member, which is also a tax exempt entity.”

“The sole corporate member has the ability to elect the board of trustees.”

“The sole corporate member has reserved powers to: amend the charter and by-laws, approve a sale, lease, mortgage, or pledge any real property, remove or elect members of the board of trustees and appoint officers of the corporation.”

“The organization distributes a draft copy of the irs form 990 to its board members to review; who then are provided an opportunity to make comments or inquiries. Appropriate responses are given to their satisfaction. The board approves the filing of the form at a meeting held prior to its due date.”

“Annual updates are requested in writing from the board members.”

“No board members or officers receive any compensation.”

“Governing documents and conflict of interest policy are made available upon request on an as needed basis as determined by the board of trustees. This organization does not provide formal financial statements.”

“The board of trustees perform governance and other services throughout the year for the housing entities listed in schedule r, part ii, for no compensation. The hours listed on page 7, part vii, section a, column b, are estimates of the average weekly combined hours worked on all of these entities.”

“There are two loans due catholic charities, diocese of rockville centre which provided funds for capital contributions to a low income housing limited partnership. The first loan consists of an original principal amount of $66,044, plus accrued interest through december 31, 2020 of $83,223. The second loan consists of a principal amount of $169,634 and interest through december 31, 2020 of $167,685.”

“The organization has annual board meetings to review and approve the compiled financial statements. The board also approves the selection of the independent accountant.”