Versailles Apartments Inc.

“Brandywine agency, inc. Is the management agent for versailles apartments, inc. Brandywine is paid a management fee based on residential income collected as outlined in hud form 9839-b, project owner/management agent's certification.”

“There are no separate committees of the governing body.”

“A draft of the form 990 was provided to all board members for review prior to final filing with the irs.”

“Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms 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 the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. Compliance with the policy is monitored and enforced through board review of the annual statements.”

“Form 990, part vi, section b, line 15: the organization does not have a compensated ceo, executive director or top management official, or any other employees. The organization outsources these functions to a management company.”

“The organization's governing documents and financial statements are available upon request.”

“Maintenance contracts: program service expenses 83,370. Management and general expenses 0. Fundraising expenses 0. Total expenses 83,370. Garbage and trash removal: program service expenses 869. Management and general expenses 0. Fundraising expenses 0. Total expenses 869. Security payroll contract: program service expenses 1,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,008. Heating/cooling: program service expenses 8,036. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,036. Snow removal: program service expenses 7,045. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,045.”