Rural Development Inc.

“The organization pays management fees to franklin county regional housing and redevelopment authority relating to the indirect costs of managing all properties owned directly or indirectly by the organization. The fee is based on 8% of the amount collected for the period. The total amount of management fees charged to the organization for the year ended june 30, 2015 was 27,508.”

“A committee of the board of directors reviews form 990. The financial data on form 990 is reconciled to the financial information on the audited financial statements. The non-financial information such as questions concerning governance, policies and tax compliance are reviewed to ensure that they are accurately answered. Consideration is given as to the completeness of unrelated business, if any.”

“1. Duty to disclose in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3. Procedures for addressing the conflict of interest an interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interst, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. 4. Violations of the conflicts of interest policy if the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“All governing documents are available for inspection by the public at the organization's offices during normal business hours”

“It is the mission of rural development, inc. (rdi) to advance the right of all people in franklin county and the north quabbin region to occupy environmentally responsible, energy efficient, affordable housing and to improve economic independence. Further, rdi strives to promote environmental awareness, and to operate in a manner that is respectful of the rural character of our region.”

“Cbh rental units - this program provides for the operation of two rental units, owned by rdi and financed by dhcd's community based housing (cbh) program”

“Reimb salaries - admin 26,910 56,255 0 reimb salaries - maintenance 43,112 0 0 consultant 0 2,600 0”

“Deconsolidate moltenbrey apts inc & crocker cutler 673,970”