White Plains Housing Development Fund Company Inc.

“White plains housing development fund company, inc.("wphdfc") uses the services of housing action council, inc. ("hac"), a non-profit organization specializing in developing private/public partnerships in providing housing in westchester county, new york. Hac provides recordkeeping, accounting and program activities. Hac provides administration service as directed by the board of directors of wphdfc.”

“The board of directors has established advisory committees, such as the audit committee, which considers matters but must report to the board of directors for approval of any action recommended.”

“The financial statements and form 990 drafts were presented to the audit committee by the auditor and tax preparer the audit committee reviewed the drafts and made inquires and comments the tax preparer made the appropriate changes and presented the returns to the organization for signing by the officers. The audit committe reported on the financial statements, tax filings and made copies available by e-mail to the other board members.”

“New board members are required to complete a conflict of interest questionnaire and also to disclose any conflicts to the president of the board. At each year's organization meeting the board members are required to review their conflict of interest statements and update during the year. If there is a change of circumstances or a new matter arises that affects a director's independence. The director is required to review the matter with the president of the board for possible referral to the entire board for review and determination if a conflict exists and what governance action should be taken.”

“Tax filings along with form 1023 and corporate information are made available upon request and are held at the managing agent's offices.”

“The organization files new york state char500 with the new york state attorney's general's charitable registration bureau. The report includes copies of the organization's audited financial statements and form 990. The state attorney general makes the filings available to the general public upon request. The organization's records are kept at the office of its managing agent requests can be made to the organization, during normal business hours, to review any public filings and corporate filing made with new york state.”

“The audit committee assumes responsibility for oversight of the audit and meets annually with the independent auditors. The form 990 review and approval processes have not changed from prior year.”