Comprehensive Housing Assistance Inc.

“THE FORM 990 is REVIEWeD BY MANAGEMENT AND THE FINANCE COMMITTEE. THE ENTIRE BOARD RECEIVEs A COPY PRIOR TO FILING WITH THE IRS.”

“Any conflicts of interest brought to the attention of management are reviewed to see if a conflict exists.”

“The elected officers of the board of directors serve as volunteers with no compensation. The board appoints the Chief Executive Officer and sets his compensation. There was no turnover in this position in the past year. The Chief Executive Officer received a cost of living increase that was the same percentage as other employees of the organization. At the time the Chief Executive Officer was initially hired, the responsible members of the board of directors consulted with The Associated: Jewish Community Federation of Baltimore on setting an appropriate salary that was commensurate with the position's duties and responsibilities and within a relevant range of other agencies and organizations of The Associated. The Chief Executive Officer (CEO) is responsible for hiring other executives and top management officials. When there is turnover in a top management position, the CEO utilizes one or more salary surveys and other information about similar positions (if such similar positions exist) at agencies and organizations of The Associated to determine an appropriate level of compensation.”

“The governing documents and policies are available upon request during normal business hours.”

“To develop and support thriving, stable communities in neighborhoods with a substantial jewish population.”

“To develop and support thriving, stable communitites in neighborhoods with a substantial jewish population. Chai accomplishes its mission by developing and managing affordable rental housing, rehabilitating housing and providing supporting repair services, promoting homeownership and providing loans to purchase and upgrade homes, providing services to the most vulnerable populations in the target areas and supporting neighborhood development.”

“CHAI Asset Management Program provides oversight of the fiscal and tenant management of 16 affordable senior housing projects with 1,639 units. All of these projects were built or rehabbed with government funding that restricts tenant eligibility, rental rates and cash distributions. CHAI is the General Partner of 7 projects that are owned by for-profit limited partnerships where we are eligible to receive management fees and limited surplus cash distributions. The other 9 projects are owned by non-profit corporations that are subsidiaries of CHAI from which no cash can be distributed to the owners. CHAI has an agreement with Edgewood Management Corporation, an unrelated management company, to form a partnership, Community Life Management LLC, for the onsite management of all 16 senior affordable housing developments, Fallstaff Apartments multifamily development, and CHAI HOPED houses (community-based housing for people with disabilities.) Edgewood is the managing partner of Community Life Management, LLC with 51% interest and CHAI has 49% interest, with net profits shared accordingly.”

“CHAI is committed to developing affordable housing for the community's senior population. With the rising cost of market rate rental apartments CHAI's Weinberg Senior Living Apartments are among the few remaining sources of affordable housing for hundreds of low and moderate-income seniors in Northwest Baltimore. New multifamily affordable housing units for seniors and renovation of existing affordable housing units for seniors have been developed over the last 20 years by utilizing a variety of funding sources including Federal, State, and Local Governments, private loans, and fundraising. A total of 1,639 affordable housing units in 16 mid-rise apartment buildings have been built. In the next few years, CHAI plans to develop housing for other special needs populations. CHAI's housing for people with disabilities program offers quality affordable housing in the community for adults with mental health disabilities. Currently CHAI has three houses open, housing nine individuals and three additional houses for ten residents are schedule to open during 2018. CHAI has received a capital grant commitment to develop the three additional houses. CHAI purchased Fallstaff Apartments in December 2014 as its first affordable multi-family housing project and added 16 housing units for low income families.”