Whitestone Community Association

“The President is the Secretarys father-in-law. The President, Vice President and a board member all share a business interest in an otherwise unrelated LLC. The Treasurer and a board member share a business interest in an othewise unrelated LLC. The Treasurer and a board member are both shareholders in an otherwise unrelated S-Corporation. These business relationships do not constitute control over these other entities and therefore are not required to be disclosed on Schedule R.”

“The residents of the community of Whitestone are all members.”

“The residents of the community of Whitestone are all members with voting rights for board members upon reaching the age of majority.”

“There are no committees. All matters are discussed with the whole board.”

“A copy is provided to all board members prior to filing. Upon receipt of the form, board members are given a time frame in which they need to review the return, provide comments, get questions answered and request changes to the form. Approval is obtained either verbally or via electronic mail before the return is transmitted to the IRS.”

“A copy of the policy is provided periodically to the board members and they are asked to list all direct and indirect financial relationships from which a conflict of interest could arise. Potential conflicts of interest are considered when matters are being voted on.”

“One of the board members had the knowledge and ability to start up the internet service provider program that we started in 2015. His compensation was set by the rest of the board without his involvement and was determined by review of statewide averages for similar positions compared with what the program could afford to pay. The salary determined ended up being substantially below statewide averages for similar positions.”

“Copies of these documents are retained in both paper and electronic formats at the Associations office and are distributed to any interested parties upon request. No fees for duplication are charged.”

“Started operating as a small wireless internet service provider to provide internet access to the community associations members. This is primarily for the benefit of the members.”