Live the Dream Development Inc.

“Form 990, page 6, part vi, line 13 - the organization has an open door policy where employees are encouraged to share concerns, seek information, provide input, and resolve problems within the department.”

“While a copy of the organization's return is not presented to the board before filing, the board does receive a copy of the organization's annual financial statements after the annual compilation has been completed. The 990 is prepared using these financial statements after the board has reviewed them.”

“The organization monitors the policy on an ongoing basis. Through meetings and day-to-day operations, it is assured that everyone is in compliance.”

“Governing documents, conflicts of interest, and financial statements are made available to the public upon request.”

“Form 990, page 9, part viii, line 2a - this revenue amount is the sales of homes to targeted low-income families.”

“To promote economic development and enhance affordable housing in the community of bowling green and warren county, kentucky and to otherwise improve the quality of life in the areas for targeted low-income residents in the areas.”

“Form 990, page 10, part ix, line 24a - this expense is the cost of buying and remodeling homes which are, in turn, sold to the targeted low-income population.”

“Tax equity correction -46,895 during 2021, covid issues and other staffing issues caused the taxpayer's 2020 financial statements to not be completed by the due date of the 2020 tax return. The taxpayer chose to file the 2020 tax return using the current trial balance at that time. Subsequent to the filing of the 2020 tax return, the 2020 financial statements were completed with two small changes. These changes resulted in an overreporting of income in the net amount of 46,895 on the prior tax return. It was decided this adjustment would not require amending the 2020 tax return, and an equity adjustment would be made to the 2021 tax return to correct the overstatement.”