Nac 4520 N Central LLC

“The organization has hired native american connections, inc. To manage the day-to-day operations of the organization.”

“The members are native american connections, people of color network, and phoenix indian center, inc. All members are arizona non-profit corporations exempt from tax under internal revenue code sec. 501(c)(3). No additional persons may be admitted as members in the company without the consent of members holding at least a majority of the percentage interests and notice to all members of the admission of any additional member.”

“Each member has the right to appoint one manager. The managers each have one vote.”

“Approval by the manager of a matter shall be binding on the company for all purposes, except removal of the manager pursuant to the operating agreement, amendment of the operating agreement, and for all the following matters, which must be approved by members of at least a majority of the percentage interests: 1. Disposition of substantially all assets 2. Consolidation, merger, etc. 3. Liquidation 4. Unrelated business 5. Bankruptcy 6. Admission of member 7. Approval of annual budget 8. Approval of variance from budgeted expenditures 9. Approval of major contracts 10. Approval of compensation and profit sharing”

“There are no formal minutes taken at meetings, but there are notes taken to document the meetings and actions of the managers.”

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

“The form 990 will be reviewed by the ceo, cfo and finance committee of native american connections, and then will be provided to the managers for final comments before filing.”

“The conflict of interest policy covers all officers, managers and employees, (if any), of the organization. The policy is reviewed annually, and if a possible conflict is identified, it is reviewed and evaluated by the non-interested managers. If it is determined that an undisclosed conflict indeed exists, the activity must stop, or the conflicted individual must resign from the organization.”

“Form 990, part vi, section b, line 15: nac 4520 n central, llc, does not have any compensated employees. It is managed under a management agreement with native american connections.”

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

“Each of the managers are compensated by the member that appointed them. To the best of our knowledge, their compensation is determineed solely with reference to their duties in such full-time employment, and is not affected by their duties or service as managers of the organization.”

“The organization does not have any paid employees. The organization does reimburse the management company for a portion of their employees in accordance with the terms of the management agreement. These reimbursements related to the compensation expense of the management company have been reported as salaries, wages and related benefits on form 990, part ix, in an effort to improve transparency.”

“Janitorial fees: program service expenses 112,163. Management and general expenses 0. Fundraising expenses 0. Total expenses 112,163.”