Reef Centra Point B7 Inc

“Russell smith, cory carlson, patrick malley, james hummer, and tup fisher are all employed as part of the real estate investment team of washington capital management. Kris eppes is an independent director representing the lender.”

“The organization is a title-holding company, organized and operated for the benefit of its sole stockholder/member. Washington capital joint master trust, the sole member of the title holding company, is a group trust as described in revenue ruling 81-100 and is exempt under internal revenue code section 501(a) for the funds that equitably belong to its participating trusts that qualify under internal revenue code section 401(a). The trust is also tax exempt under irc section 408(e) for funds that equitably belong to its participating individual retirement accounts that qualify under irc section 408. Washington capital joint master trust is established for the exclusive purpose of holding in trust one or more collective funds with the objective of obtaining various economies and greater diversification by pooling individual trust assets.”

“The taxpayer authorized and issued only one class of shares of stock and issued 1,000 shares to washington capital joint master trust. The holder of the stock is entitled to one vote per share. The initial directors were named in the articles of incorporation. Directors are elected by the sole shareholder at each annual meeting to hold office until the next annual meeting. Any one or more members of the board (including the entire board) may be removed, with or without cause, by a vote of the sole shareholder. Therefore, washington capital joint master trust appoints and can remove the board of directors of the title holding company by vote, with or without cause.”

“All powers are exercised by and under the authority of the board. The organization's business and affairs are managed under the direction of the board and since washington capital joint master trust appoints the board and has the right to remove any or all members of the board, any decisions are subject to the approval of the sole member. Any one or more members of the board (including the entire board) may be removed, with or without cause, by a vote of the sole shareholder.”

“A draft copy of the form 990 is provided to the board secretary & treasurer for review before filing. Financial transactions related to form 990 are reviewed continuously during the year by a member of the governing body. At a minimum, the form 990 is reviewed by at least one member of the governing body.”

“Directors and officers are required annually to submit a written statement showing their compliance with the conflict of interest policy. This statement is reviewed by a compliance officer.”

“Part vi section b line 15 the organization does not pay compensation and therefore does not have a process for review and approval.”

“The organization's governing documents are available as part of the form 1024. In addition, the public may view the governing documents and conflict of interest policy at the organization's office by showing up in person or making a written request. The organization does not have an audited financial statement to make available to the public. If and when the organization does have an audited financial statement, the requests will be reviewed when received. An audited statement is prepared for the sole member and is available at the organization's office or by written request.”

“Distribution to qualifying trust -1,013,000.”