Whitestone Community Association

“The President and the Secretary are married. The Vice President, Treasurer and a board member share business interests in five otherwise unrelated LLCs. Due to attribution rules over family members also holding interests in these LLCs, these relationships constitute control as reported on Schedule R. Most of the board members and officers serve as LLC managers for other manager-managed LLCs. These relationships make four other LLCs be brother-sister controlled entities as disclosed on Schedule R. The Treasurer and one other board member also serve on the board of another 501(c)(3) while all the other officers and board members of the organization act as agents of this other charity from time to time. As such, this other 501(c)(3) is reported 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.”

“The Secretary is compensated for her bookkeeping services. Her pay rate was determined by the other board members by consulting the average pay rate for similar services as published by the State of Alaska. She is paid based on hours actually worked with no allowance for paid time off.”

“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.”

“Engineering and survey: $50,967 Road maintenance engineering and survey workCivil contractor: 57,013 Winter ice road construction and improvementsMedical director fees: 4,388 EMS squads medical director ________ Total: $112,368”