National Community Stabilization Trust LLC

“Ncst has members as defined in the llc agreement.”

“Ncst was formed as a limited liability company with six members. During 2018, one member relinquised it's membership rights in ncst, and therefore there were 5 members as of december 31, 2018.”

“Ncst is an llc with five members, each member has representation on the board of managers. There are 7 total members of the board of managers, each of whom has voting rights to elect other members of the board.”

“Management and control of the business of ncst is generally vested in its governing body; certain decisions are subject to the approval of the members of ncst.”

“The form 990 is prepared by an independent contractor with assistance from and review by ncst officers. Prior to filing, a completed copy is distributed to and reviewed by the audit committee and board of managers.”

“Officers and board members are required to sign off annually on ncst's conflict of interest policy.”

“The president and comptroller are officers which are compensated. Their salaries were determined through board discussion and approval. Ncst conducted a compensation study in 2013 to ensure that the ceo salary was in-line with other non profits in the industry. The study at the time indicated that the ceo salary was in-line. Most recently, legal counsel conducted a quick compensation exercise with similar non profits using the public 990 to indicate that the ceo salary for ncst remains in-line with other non profits. The ceo uses market rate examples for similar positions to determine the salary of the comptroller.”

“Ncst makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“DISTRIBUTION -140,000.”

“The board of directors has charged the audit committee with responsibility for oversight of the audit and selection process.”