Neighborhood Coalition for Shelter Inc Housing Development Fund Company Inc

“1. The completed 990 form and char 500, which are prepared by an independent accountant, are presented to the finance/audit committee of ncs for review and approval. 2. Members of the board of directors review and approve the final 990 and char 500 forms before submission to the irs and new york state. 3. Should an extension for filing be necessary, the board will be informed by the executive director as to the reason(s) for extension and will review the final forms prior to the deferred filing date.”

“Each director, officer and member of a committee of the board annually signs a statement which affirms that such person: (a) has received a copy of this conflicts of interest policy, (b) has read and understands this policy, and (c) has agreed to comply with this policy. If the board or committee thereof has reasonable cause to believe that an interested person has failed to disclose an actual or possible interest, it shall inform the interested person of the basis for such belief and afford the interested person an opportunity to explain the alleged failure to disclose. If after hearing the response of the interested person and making such further investigation as may be warranted in the circumstances, the board or committee determines that the interested person has in fact failed to disclose an actual or possible interest, it shall take appropriate disciplinary and corrective action which may include reconsideration of whether the transaction or arrangement was in the best interests of and was fair and reasonable to the corporation at the time it was undertaken. To ensure that the corporation operates in a manner consistent with its charitable purposes and its federal tax exemption, periodic reviews will be conducted by board of directors, in appropriate cases, to determine whether compensation and benefits arrangements and other transactions are reasonable and the result of arms-length negotiation.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The organization's mission or most significant activities: the corporation is not formed for pecuniary profit or financial gain. The corporation is organized exclusively for the charitable purposes of ownership, operation, development and disposition, on a non-profit basis, of housing for persons of low income who are otherwise homeless persons. The corporation, in furtherance of its corporate purposes, shall have all of the powers enumerated in section 202 of the not-for-profit corporation law, and is hereby authorized and empowered to do and perform all acts reasonably necessary to accomplish the purposes of the corporation including, without limitation, the execution of regulatory agreements with governmental agencies or instrumentalities and such other instruments and undertakings as may be necessary to enable the corporation to secure financing for the development and operation of the projects. The corporation is a housing development fund company as defined in section 572(9) of the private housing finance law and a corporation as defined in subparagraph (a) (5) of section 102 of the not-for-profit corporation law. The corporation is a type d not-for-profit corporation under section 201 of the not-for-profit corporation law. In furtherance of the aforesaid purposes, the corporation is organized exclusively for charitable purposes, as specified in section 501(c)(3) of the internal revenue code of 1986, as amended (the "irc") and shall not conduct any activities not permitted to be conducted by a corporation exempt from federal income tax under section 501(c)(3) of the irc or the corresponding section of any future federal internal revenue law, or by a corporation, contributions to which are deductible pursuant to section 170(c)(2) of the irc or the corresponding section of any future federal internal revenue law.”

“The process has not changed from the prior year.”