Breaking Ground III Housing Development Fund Corporation

“Enforcement of Conflict of interest policy The policy and annual disclosure forms are distributed to all board members, officers and management staff. Each individual is required to sign and review the disclosure form and provide information about any relationships they may have with Common Ground Community III HDFC'S other employees, and/or vendors that conduct business with Common Ground Community III HDFC. Common Ground Community III HDFC operates under the policy of its parent organization, Common Ground Community HDFC, Inc. All submissions are reviewed by Human Resources to determine if a conflict exists; when a conflict arises, the individuals affected are prohibited from participating in the decision-making process related to any transaction occurring with the conflicted organization. Form 990, Part VI, Section B, lines 13 & 14 Common Ground Community III HDFC operates under the whistleblower and document retention policy of its parent organization, Common Ground Community HDFC, Inc.”

“Common Ground Community III HDFC makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Form 990, Part IX Common Ground Community III HDFC does not have its own employees or its own payroll. All employees providing services to Common Ground Community III HDFC receive their W-2s from a related organization, Common Ground Management Corporation. Expenditures reported on Part IX, Lines 7, 8, 9 and 10 represent the portion of salary and benefits expenditures allocated to Common Ground Community III HDFC based on services rendered to the organization.”

“a Not-for-profit CHARITABLE ORGANIZATION EXEMPT FROM INCOME AND EXCISE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CGC III WAS FORMED FOR THE CHARITABLE PURPOSE OF OPERATING A HOUSING PROJECT AT 206 WEST 24TH STREET, NEW YORK CITY, A BUILDING THAT WAS PURCHASED THROUGH A LOAN FROM THE CITY OF NEW YORK DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT, WHICH PROVIDES HOUSING AND EMPLOYMENT SERVICES TO QUALIFYING YOUNG ADULTS, FORMERLY HOMELESS AND LOW-INCOME SINGLE ADULTS. FORM 990, PART VI, SECTION B, LINE 11 Organization's process used to review form 990 The Form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of trustees in either paper or electronic form for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service.”

“Description:social services to residents total fees:103468”