575 Fifth Avenue Housing Development Fund Corporation

“Description of delegated duties to management company bookkeeping, accounting, management reporting, maintain the common elements of the property, manage tenant issues and other projects on as as needed basis.”

“Decisions of governing body approval by members or shareholders major decisions are discussed and voted upon by board members. At times, the board members seek the opinions of the management company, attorneys, outside accountants and others in the decision making process.”

“Explanation of no contemporaneously documentation of meetings the organization has not established formal sub-committees.”

“Form 990 review process the finance director of the management company prepares a draft set of tax returns to be reviewed by management. Corrections and edits are discussed and made, if necessary. The finance director of the management company prepares a final set of tax returns for signature, then mails out the signed tax returns to the appropraite government agency.”

“Explanation of monitoring and enforcing conflicts the organization has adopted the conflict of interest policy as used by the management company which is a 501 c 3. The finance director of the management company is responsible for financial relationships between the organization and other entities. If a potential conflict of interest arises, the finance director for the management company addresses the matter with the director of property management for resolution.”

“Other organization documents publicly available upon request, the organization provides copies of its governing documents, policies, and financial statements.”