The Delores Project

“The board of directors and the finance committee record contemporaneous meeting minutes.”

“The executive director, business and finance director and treasurer, at a minimum, review the form 990 in detail. It is made available to the entire board for viewing prior to filing.”

“The delores project, as a nonprofit, tax-exempt organization, depends on charitable contributions and grants for its continued existence. Because the operations of the delores project may be viewed as a public trust by the irs and state tax officials, members of the board of directors and the delores project employees, including those who can influence the actions of the delores project, have the responsibility of administering the affairs of the delores project honestly and prudently, and of exercising their best care, skill and judgment for the sole benefit of the delores project. Therefore, as referenced in the by-laws, board members of the delores project: 1. Shall not use their positions at or knowledge of the delores project for their personal benefit. 2. Shall refrain from influencing board action on a matter in which the board member or employee, or anyone with whom either has any personal relationship outside the context of the matter ("related party"), is financially or organizationally involved. 3. Shall make known as soon as possible to the board of directors the conflict of interest and, if a board member, shall not be part of the discussion and cast no vote on the matter. Transactions with related parties may be undertaken only if all of the following are observed: a) a material transaction is fully disclosed in the organization's audited financial statements; b) the related party is excluded from discussion and vote on the transaction; c) a competitive bid or comparable valuation exists; and d) the organization's board has demonstrated that the transaction is in the best interest of the organization.”

“The board of directors has established compensation ranges for each permanent position based on analysis of comparable data for metropolitan denver. The board of directors establishes the executive director's annual compensation in executive session, notes for which are taken and maintained by the secretary.”

“Information is provided to the public upon request and also at communityfirst.org, a website sponsored by community first foundation.”

“No change from prior year.”

“In january 2015, the organization entered into partnership with another nonprofit organization, rocky mountain communities to form arroyo village llc, a colorado limited liability company, which is the general partner in arroyo village apartments lllp (the lllp), a colorado limited liability limited partnership. The organization and rocky mountain communities are members of av development llc and own 25% and 75%, respectively. On january 15, 2016, the lllp entered into a consulting services agreement with blueline development, inc. (blueline). Blueline acted as consultant for the lllp project, managing all aspects of the planning, construction and completion, including supervision of financing, design, construction and compliance. The lllp project was approved in june 2016 for federal and state for low-income housing income tax credits. The sale of the tax credits provided the initial funding for the construction project, which commenced construction on august 24, 2017 and received final certificate of occupancy on september 20, 2019. The organization operates the shelter and provide supportive service to residents of the permanent supportive housing units. There were no developer fees received in 2019. The redevelopment project, arroyo village, was to redevelop its original properties in the west colfax neighborhood of denver to create a full housing continuum of shelter, permanent supportive housing and workforce housing under one roof. Arroyo village created 95 one-to-three-bedroom affordable housing units for individuals and families, and 35 one-bedroom units for former chronically homeless individuals who also have a disability. These 35 residents will be supported by services and resources provided by the organization to maintain their housing. In addition, a new shelter facility will be created allowing for improved and expanded programs for shelter guests in an environment consistent with the evidence-based best practices of trauma-informed care. The project was completed and occupied in early 2019.”