721 East 6Th Street Housing Development Fund Corporation

“The organization purchases management services from nazareth housing, inc., a related party. These fees are chargeable at a rate based on 8.5% of projected annual gross income plus superintendent costs. Management fees totaling $34,000 paid during fiscal year 2016. Refer to part vii for the secretary/treasurer who is compensated by the management company. Management services include property management and supervision.”

“There are no committees with the authority to act on behalf of the governing body.”

“The draft form 990 is sent electronically to the board of the hdfc by the executive director for review prior to finalization and submission to the irs. The board meets to discuss any questions, modifications, or changes from prior years. The board votes to approve the form 990.”

“Conflicts of interest or potential conflicts of interest for board members are vetted prior to being elected to board. The hdfc board members are also members of the board of directors for nazareth housing inc. And complete an annual conflict of interest disclosure form. The conflict of interest policy and disclosure are designed to cover all aspects of both the federal sarbanes oxley requirements as well as the requirements for new york state nonprofit reform act of 2013, revised in 2015. Conflict of interest forms are kept on file in the board records. Copies of each disclosure statement shall be made available to any director or officer of the corporation upon request.”

“The organization's form 990 is available for public inspection as required under section 6104 of the internal revenue code. The return is 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 at 519 east 11th street, new york, ny 10009...or by calling the organization directly at (212) 777-1010”