Center Housing Development Fund Corporation

“The sole member of the center housing development fund is the center for disability services holding corporation, an i.r.c. Section 501 (c)(3)exempt organization that serves as the central management and control entity for the center and its affiliated organizations.”

“The center for disability services holding corporation, the sole member, elects the board of directors of the center housing development fund corporation.”

“According to the by-laws certain decisions of the governing body relating to the organization's mission, principal functions, budget, appointments to management positions, and similar critical issues are subject to ratification by the members.”

“Copies of the draft form 990 were made available to all members of the governing body for their review and comments prior to finalization of the return.”

“All officers and key employees file an annual report of compliance with the conflict of interest policy disclosing any conflicts that may exist. Individuals with any existence or appearance of conflict recuse themselves from the deliberative and decision-making processes in respect of matters affected.”

“Compensation and benefits for the ceo are determined by the exclusive vote of the independent members of the governing body, which takes into account comparability data from similar organizations in the region. Deliberations of the governing body on these issues are contemporaneously documented.”

“Audited financial statements of the organization are filed with the nys charities bureau and are available to the public at the bureau's website.”

“Purchase services/consultants 29,929 0 0”

“Gain on disposal of asset 39”

“In 2012, hud requested the corporation change its method of accounting which resulted in netting the grant funds recognized against the property and equipment purchased and expensed the grant proceeds. As of january 1, 2022, the corporation changed its method for recording property and equipment and related depreciation for loans funded by hud to a more preferable approach. The corporation made a change in accounting principal to recognize the depreciated cost of the property and equipment and depreciation expense over the remaining useful life of the asset. This change resulted in an increase to building of 1,616,696, accumulated depreciation of 949,626 and other changes in net assets without donor restrictions of 707,487 in accordance with asc 250, accounting changes and error corrections.”

“Audit committee procedures with respect to review and oversight of the annual audit of financial statements and the appointment of the independent accountant have not changed from prior years.”