San Jose Downtown Property Owners'

“On january 28, 2008, the association entered into an agreement with san jose downtown association ("sjda") to receive management services. The agreement has been extended several times and continues through january 31, 2022. The entities have separate boards of directors and operate as separate entities. As a fee for the management services, the association will pay up to and not to exceed 9.9% of the total revenue received by pbid. The fee is payable semi-annually. For the year ended june 30, 2021, the association incurred expenses from this agreement totaling $355,404.”

“Membership shall consist of all persons whose properties are assessed in the pbid.”

“Members shall elect the directors by a mailed ballot or online from a slate recommended by a nominating committee. The initial nominating committee shall consist of three members who volunteer for this purpose and who shall not be candidates for the board of directors. Following the election of the initial board of directors, future nominating committees shall be appointed by the board of directors. Each member's vote at any election of directors shall be weighted in proportion to that member's assessment amount in the pbid. Those candidates receiving the highest number of votes, up to the number of directors to be elected, shall be winners of the election.”

“Subject to the rights of members and the limitations imposed by california nonprofit corporation law, the board of directors may adopt,amend, or repeal the bylaws by an affirmative majority vote of the board of directors at which a quorum is present. A copy of the proposed amendment or new bylaws shall be included in the notice of meeting given to each director.”

“Pbid tax return is reviewed and signed by the executive director. The board members review the tax return at the board of directors meeting.”

“The board of directors holds six meetings per year to review financial statements. The policies are regulary reviewed by the board on an annual basis.”

“Form 990 part vi section b line 15a and 15b: san jose downtown property owners' association (sjpbid) entered into an agreement with san jose downtown association (sjda) to receive management services and paid an annual fee to sjda. Sjpbid does not have any employees, nor does it compensate its top management officials.”

“The organization's financial statements are available on the organization's website. All other governing documents are available to the public upon request.”

“Subcontractors - groundwerx 2,045,871. General services 40,375.”

“This process has not changed from the prior year.”