Services for the Underserved Inc

“On December 4, 2014 PALLADIA, INC. entered into A MEMBERSHIP TRANSACTION AGREEMENT WITH SERVICES FOR THE UNDERSERVED, INC. ("SUS"), A NEW YORK NOT-FOR-PROFIT CORPORATION. UNDER THE TERMS OF THE AGREEMENT, SUS BECAME THE SOLE CORPORATE MEMBER OF PALLADIA.”

“Services for the underserved, inc., as the sole corporate member of palladia, has the final approval of electing the board of directors for the organization and final voting rights on governing matters.”

“Form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. Draft form 990 is reviewed by the organization's management as well as the full board of directors before it was filed with the internal revenue service.”

“Annually, all members of the board, senior management and the executive management team complete a conflict of interest questionnaire. The responses are reviewed and investigated by the agency compliance officer and if a conflict exists, the individual is required to recuse themselves from discussions and voting.”

“SERVICES FOR THE UNDERSERVED, INC., A 501(c)(3) AFFILIATE OF THE REPORTING ORGANIZATION, PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL AND OTHER OFFICERS. AT INTERVALS OF AROUND THREE YEARS THE EXECUTIVE/HR COMMITTEE OF THE BOARD CONDUCTS SALARY BENCHMARKING USING THE SERVICES OF AN INDEPENDENT, QUALIFIED COMPENSATION CONSULTING FIRM TO CONDUCT A MARKET PAY ANALYSIS - BASE SALARY AND TOTAL CASH - FOR ITS EXECUTIVES BASED ON ORGANIZATIONS OF COMPARABLE TYPE, SIZE AND GEOGRAPHIC LOCATION. THE FIRM ALSO CONDUCTS AN ASSESSMENT OF EXTERNAL MARKET COMPETITIVENESS OF SELECTED BENEFITS - RETIREMENT AND EXECUTIVE PERQUISITES - FOR TARGETED EXECUTIVE POSITIONS.”

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

“Regulation reference: 168(h)(6)(f)(ii) palladia, inc., a tax exempt entity, is the 100% sole member of east 162nd street housing development fund corporation. Accordingly, east 162nd street housing development fund corporation is a tax-exempt controlled entity as defined in irc sec. 168(h)(6)(f)(iii)(i). Accordingly, palladia, inc. And east 162nd street housing development fund corporation hereby elect under irc sec. 168(h)(6)(f)(ii) for east 162nd street housing development fund corporation to not be treated as a tax-exempt controlled entity under this paragraph and paragraph (5). Further, any gain recognized by palladia, inc. On any disposition of an interest in east 162nd street housing development fund corporation (and any dividend or interest received or accrued by palladia, inc. From east 162nd street housing development fund corporation) will be treated as unrelated business taxable income for purposes of section 511. Palladia, inc. And east 162nd street housing development fund corporation understand that this election is irrevocable and fully binding. Further, for the purposes of irc sec. 168(h)(6)(f)(ii)(ii), only dividends properly allocable to the income of east 162nd street housing development fund corporation, which are not subject to tax under this section, will be included.”