The Beatrice C Catullo Residence

“Beatrice c. Catullo residence hdfc purchases management services from the wavecrest management team, ltd., an unrelated organization. The management company manages the building. They collect rent, pay bills, oversee the maintenance of the building and re-certify tenants annually to insure compliance with hud requirements. Property management fee expenses were $95,518 for the year ended december 31, 2024. None of the individuals listed on part vii are compensated by wavecrest management team, ltd.”

“Rain total care, inc. Is the sole member of beatrice c. Catullo residence housing development fund corp.”

“Rain total care, inc. Is the sole member of beatrice c. Catullo residence housing development fund corp. And has the power to appoint board members.”

“Rain total care, inc. Is the sole member of beatrice c. Catullo residence housing development fund corp. And reserves all rights over governance decisions.”

“No review was conducted prior to the filing of the return.”

“The success and proper governance of beatrice castilia-catullo housing development fund corp. (bcc) depends on the active participation of its directors, officers, advisory board members, committee members and staff. Given that even the perception of a conflict of interest can have a negative impact on bcc, every member must inform the bcc chairman or president about any conflict of interest they might have or encounter, as well as any event or circumstance that may create the appearance of a conflict of interest. This conflict of interest policy should guide the directors, officers, advisory board members, committee members and staff when conducting bcc business or representing bcc. Every member has a duty of putting the interests of bcc over their own self-interest or the interest of others. Every member must also avoid acts of self-dealing that could adversely affect the tax-exempt status of bcc or cause any sanction or penalty by a governmental authority. Interested directors doing business with bcc must adhere to the bcc by laws. Because directors, officers, advisory board members, committee members and staff may be involved in other organizations that may have business dealings or affiliations with or seek grants from bcc, the following general principles have been established: each director, officer, advisory board member, committee member and staff shall maintain the highest level of ethical conduct and shall exercise the highest standard of care, diligence, and prudence when conducting any activity on behalf of bcc. In the event any director, officer, advisory board member, committee member or staff or a member of her/his immediate family has a personal or business interest in, or is involved in any way with, an organization with whom bcc is considering a grant request or business contract, such interest or involvement shall be disclosed to bcc. In such event, any director, officer, advisory board member, committee member or staff may answer pertinent questions of other directors, officers, advisory board members, committee members or staff when knowledge regarding the matter will assist bcc. Directors, officers, advisory board members, committee members and staff are expected to be working solely for bcc, inc. Any outside employment with competitors who are known to compete for the same contracts should be promptly disclosed to the chairman & executive director. In certain circumstances, outside employment may be approved but the corporation retains the right to review and evaluate each situation on an individual basis. The minutes of the meeting shall indicate that the interested director, officer, advisory board member, committee member or staff disclosed the interest or involvement in the matter being considered by the board, and shall abstain from voting on the matter.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.”

“Security services: program service expenses 186,788. Management and general expenses 0. Fundraising expenses 0. Total expenses 186,788. Maintenance services: program service expenses 0. Management and general expenses 20,085. Fundraising expenses 0. Total expenses 20,085. Purchased services: program service expenses 10,424. Management and general expenses 1,850. Fundraising expenses 0. Total expenses 12,274.”

“The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. The process has not changed from the prior year.”