Community Resources and Housing Development Corporation

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“The 990 is reviewed by the executive director and accounting, then presented to the board for review and approval before filing.”

“The purpose of the conflicts of interest policy is to protect crhdc's interest (and the interest of crhdc's affiliates) when it is contemplating entering into a transaction arrangement that might benefit the private interest of an officer or director of crhdc. This policy is intended to supplement but not replace any applicable federal, state or local laws governing conflicts of interest applicable to nonprofit and charitable corporations. . Interested person. Any director, principal, officer, or member of a committee with board delegated powers who has a direct or indirect financial interest, as defined below, is an interested person. . Financial interest. A person has a financial interest if the person has, directly or indirectly, through business, investment or family - (a) an ownership or investment interest in any entity with which crhdc has a transaction or arrangement, (b) a compensation arrangement with crhdc or with any entity or individual with which crhdc has a transaction or arrangement, or (c) a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which crhdc is negotiating a transaction or arrangement. Compensation includes direct and indirect renumeration as well as gifts or favors that are substantial in nature. . Duty to disclose. In connection with any actual or possible conflict of interest, an interested person must disclose the existence and nature of his/her financial interest and must be given the opportunity to disclose all material facts to the directors (or members of the appropriate committee with board delegated powers) considering the proposed transaction or undertaking. . 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 board or committee meeting while the determination of a conflict of interest is discussed and voted upon. After exercising due diligence, the board or committee, if appropriate, shall determine whether crhdc can obtain a more advantageous transaction or arrangement with reasonable efforts 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 attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in crhdc's best interest and for its own benefit and whether the transaction is fair and reasonable to crhdc, and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. The minutes of the board and all committee with board-delegated powers shall record the names of all persons participating in the meeting, a summary of the discussion, including any proposed alternative arrangements, and a record of any votes taken in connection with the final determination. . Annual statements. Each director, principal officer and member of a committee with board-delegated powers, shall annually sign a statement which affirms that such person (a) has received a copy of the conflicts of interest policy, (b) has read and understands the policy, (c) has agreed to comply with the policy, and (d) understands that crhdc is a charitable organization and that in order to maintain its federal tax-exemption, it must engage primarily in activities which accomplish one or more if its tax-exempt purposes. . Periodic reviews. To ensure that crhdc operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews of the conflicts of interest policy and requirements shall be conducted.”

“The executive director is reviewed and approved by community resources and housing development corporation's (crhdc)board president, and his compensation is approved by the board's budget approval process.”

“Key employees and other employees are reviewed by the executive director of community resources and housing development corporation and compensation is approved by the executive director.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The organization files form 990 and makes the form publicly available for a period of three years from the date it is actually filed.”

“Community resources and housing development corporation provides pathways to housing resources and asset-building opportunities. Crhdc and its affiliates create strong and healthy communities via innovative approaches in providing sustainable and affordable housing, life-skills, and economic development opportunities to benefit low-to-moderate income households throughout colorado through property development, financing, education, partnership, and technical assistance.”

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