Highbridge Community Development Corp

“The organization's 990 is reviewed and approved by both the ceo and cfo and discussed with the audit & finance committee of the board before it is finalized and filed.”

“The organization regularly sends out an annual questionnaire to the board members and staff.”

“The organization's process for determining compensation is performed by the finance committee, which reviews and approves compensation on an annual basis.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public, but certain information can be obtained upon request at the organization's offices.”

“On behalf of the related organization, st. Francis housing development fund corp (ein: 83-3683495), the organization is including information about the following election made during tax year 2023: regulation reference: election 168(h)(6)(f)(i): pursuant to irc code section 168(h)(6)(f)(i), st. Francis commons housing mm corp. And its tax exempt parent shall not be treated as tax-exempt entities for purposes of this paragraph and paragraph (5), and pursuant to irc code section 168(h)(6)(f)(ii) any gain recognized by st. Francis commons housing mm corp. And its tax-exempt parent on any disposition of an interest in the st. Francis commons housing llc (and any dividend or interest received or accrued by a tax-exempt entity from such tax-exempt controlled entity) shall be treated as unrelated business taxable income for purposes of irc code section 511. Any such election shall be irrevocable and shall bind all tax-exempt entities holding interests in such tax-exempt controlled entity. For purposes of subclause (ii), there shall only be taken into account dividends which are properly allocable to income of the tax-exempt controlled entity which was not subject to tax under this chapter.”