York Area Development Corporation

“The corporation has a contractual agreement with delphia management corporation for management services related to its various apartment projects. Under the terms of the contracts, delphia management corporation is paid a management fee equal to an agreed upon percentage of total gross rent receipts of each project. Each project also pays delphia management corporation for personnel services provided directly to the project of employees of delphia management corporation.”

“UPDATED THE BY-LAWS.”

“Any person who subscribes to the purposes and governing rules of the corporation shall be eligible for membership.”

“Current board members elect new board members/officers from the nominating committee recommendations.”

“The finance committee members review a draft of the form 990 prior to their finance committee meeting. At the finance committee meeting they discuss it and decide whether or not they will make a motion to recommend to the board to approve it as is, or with any recommended changes. It will then be forwarded to the whole board prior to the board to approve it as is, or with any recommended changes. It will then be forwarded to the whole board prior to the board meeting so that the board members can review it as well. At the board meeting, the board will approve as recommended by the committee or with any additional changes.”

“Board members sign a conflict of interest statement on an annual basis, or more often as needed. Monitoring is done throughout the year by the executive director and the board based on the responses submitted on the conflict of interest statement. Board members abstain from any voting that would be considered a conflict of interest.”

“Salary ranges have been established for all positions and/or groups of positions, reviewed by the personnel committee, and approved by the finance committee and the board of directors. Each range included a minimum and maximum and was based on a study of local and national trends. The personnel committee members reviewed data published by kenexa compensation market analysis. The executive director shall determine starting salaries for new employees within these ranges. The personnel committee prepares an annual compensation recommendation for the position of executive director. Salary reviews shall be made at the end of the introductory period and at the end of the calendar year thereafter. Raises are effective the first of the month following the first-year reviews and the first of january thereafter. An interim review is possible if an employee is transferred or promoted. Salary adjustments are determined by target pay and range, competency, job performance, organizational finances, cost of living and are made by the executive director in consultation with the board. The deliberation and decision is contemporaneously substantiated.”

“The organization does not make the governing documents, conflict of interest policy or financial statements public since it is not required by federal or state law.”

“Standing committees are appointed by the chairman of the board and include personnel; finance; projects and facilities; tenant relations; and development and public relations. Each committee shall meet as often as necessary to accomplish the functions and responsibilities assigned by the board of directors. The finance committee has been assigned the function and responsibility for oversight of the audit of the financial statements and selection of an independent accountant. The process has not changed since the prior year.”