Greater Berks Development Fund

“The members of the organization are comprised of the incorporators of the corporation and other persons elected by a favorable vote by two-thirds of all the members present at any regular or special members meeting.”

“The members of the corporation may elect other members by a favorable vote of two-thirds of all the members present at any regular or special members meeting.”

“An agenda is prepared for committee meetings, attendance is taken, and the committees follow up with the board of directors for approval or ratification of business discussed when necessary.”

“The form 990 was sent electronically to the board for approval”

“The board of directors monitors and enforces the conflict of interest policy. Actual conflicts are reviewed by the president.”

“The organization's form 990 is available upon request.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”

“The organization did not have any instances where backup withholding was required; however, if the situation would arise, the organization is aware of the reporting requirements and would handle that accordingly.”

“Book depreciation greater than tax depreciation -617,471. Equity in net income of affiliate 127,539. Book realized gains and losses greater than tax gains and losses 2,302,326.”

“The audit committee of the board of directors assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”

“Gateway building operations: interest 258,063 utilities 157,960 repairs & maintenance 333,924 administrative 45,662 taxes and insurance 214,109 management fee 21,068 depreciation 622,123 amortization 6,388 professional fees 88,270 --------- total gateway building operations 1,747,567”

“Wells fargo building operations: depreciation 442,967 amortization of financing and refunding costs 25,433 interest 50,888 professional fees 300,000 --------- total wells fargo building operations 819,288”

“606 court street building operations: utilities 51,352 repairs & maintenance 69,785 administrative 29,381 taxes and insurance 34,200 management fee 8,299 depreciation 28,013 amortization 2,218 interest 53,433 --------- total 606 court street building operations 276,681”

“Bern property operations: utilities 408 taxes and insurance 14,808 interest 49,496 amortization 6,450 --------- total bern property operations 71,162”

“61 & 73 property operations: utilities 7,858 taxes and insurance 69,184 interest 171,591 repairs and maintenance 152 amortization 2,344 --------- total61 & 73 property operations 251,129”