Lake Ridge Elderly Development Inc.

“Lake ridge engaged in a management agreement with national lutheran communities & services as of march 12, 2015 to provide accounting, human resource and management oversight for the organization.”

“Fellowship square foundation, inc. (ein 52-6067043) is the owner of lake ridge elderly developments inc. According to lake ridges' by-laws.”

“The fellowship square foundation, inc. Must approve all decisions made by the lake ridges' board of directors.”

“Internal management employees will perform an initial review, then the management company will look over the return. Once approved, the whole board will review and approve the 990 prior to the return being filed.”

“The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of the director and/or officer to disclose to the board of directors any actual or potential conflicts of interest. The board of directors (excluding any member who is party to the conflict) is responsible for reviewing the potential conflict and making the determination if an actual conflict of interest exists. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflicts of interest shall be precluded from voting on any matters associated with the arrangement or transaction involving such conflict.”

“The organization makes its conflict of interest policy, governing documents, and financial statements available upon request.”

“The organization is filing on its own for the first time. The activity is the same as in previous years; however, it must now be reported separately pursuant to hud regulations.”

“Employees of the filing organization have their salaries reported by fellowship square foundation, the common paymaster for the filing organization and affiliates.”

“Contracts : program service expenses 91,743. Management and general expenses 0. Fundraising expenses 0. Total expenses 91,743. Consultant : program service expenses 0. Management and general expenses 7,275. Fundraising expenses 0. Total expenses 7,275.”

“Beginning net assets of prior disregarded entity 1,150,531.”

“The organization has included an "other change in net assets" in the amount of $1,150,531. This represents the beginning net assets of this entity which were previously included in fellowship square foundation, inc. (ein: 52-6067043) form 990. During the current fiscal year the organization obtained its own exempt status and now files a separate form 990.”