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.”

“The corporation amended and restated its bylaws as part of its mortgage refinancing.”

“During 2022, action-housing, inc. Established the ahi-202 mon valley, inc. Of which the corporation is a member. Ahi-202 was created for the refinancing of the hud insured mortgage. Ahi-202 has the same board of directors as the corporation.”

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

“A draft of the form 990 is available to all board members upon request.”

“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 81,043. Management and general expenses 0. Fundraising expenses 0. Total expenses 81,043. Garbage and trash removal: program service expenses 778. Management and general expenses 0. Fundraising expenses 0. Total expenses 778. Security payroll contract: program service expenses 1,238. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,238. Heating/cooling: program service expenses 90. Management and general expenses 0. Fundraising expenses 0. Total expenses 90. Snow removal: program service expenses 4,635. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,635. Tenant care: program service expenses 10,670. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,670.”