Pathstone Corporation

“A draft copy of the return is distributed to the members of the board for comments before filing.”

“During the new board member orientation, the policy is fully explained by the President and attorney. The board member understands that it is important to follow the policy at all times during his or her term on the board. It is made clear that if any conflict arises, that the policy is in effect and should be followed. This is also re-emphasized annually when the policy is signed on a yearly basis. In addition to the Conflict of Interest Policy, the organization's parent Company, PathStone Corporation, has a questionnaire that all employees must fill out annually to determine whether they have a real or potential conflict of interest. If any potential conflicts are learned about through this or any other method, they are reviewed by the Executive Staff member for that division, and ultimately by the President/CEO of PathStone Corporation. The CEO of PathStone Corporation has the ultimate responsibility for determining whether or not a conflict exists and he or she, in conjunction with the Senior Vice President for Human Resources of PathStone and the Executive Staff member for that employee's division, will determine the course of action necessary.”

“Form 990, Part VI, Section B, Line 15: Pathstone Housing Action Corporation and Affiliates do not have any direct compensation expense since all employees are officially employed by the parent company, PathStone Corporation. The wages and benefits of all top management employees are determined by the personnel committee of the Parent company, PathStone Corporation, as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.”

“Pathstone Housing Action Corporation and Affiliates makes its governing documents (Bylaws and Certificate of Incorporation) available to the public upon written request. PathStone prints an annual report which is made public each year. Copies are mailed to stakeholders and it is readily available to the public.”

“Contracted Management Services: Program service expenses 5,744,095. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,744,095. General Contractors: Program service expenses 0. Management and general expenses 159,684. Fundraising expenses 0. Total expenses 159,684. Consulting: Program service expenses 109,340. Management and general expenses 69. Fundraising expenses 0. Total expenses 109,409. Other Professional Fees: Program service expenses 217,752. Management and general expenses 1,432. Fundraising expenses 0. Total expenses 219,184.”

“The Organization's fund raising costs are incurred by their affiliate, PathStone Foundation. The Foundation files a separate 990, therefore, those numbers are not shown here.”

“Affiliate Transfers 21,556,518.”