Community Asset Preservation Corporation

“Member community loan fund of new jersey, inc. ("clf") is the sole member of community asset preservation corporation ("capc").”

“As the sole member of capc, clf has the power to appoint the board members of capc.”

“Form 990 review the form 990 is prepared by a tax preparer and reviewed by the finance department and the board of directors prior to filing with the irs.”

“Conflict of interest review the organization has a conflict of interest policy covering board of directors and staff. Staff and board members are provided with a conflict of interest policy statement providing general direction as to the organization's expectations of appropriate behavior. Board directors and staff are required to consult with their superiors whenever they have any question as to whether a particular circumstance may place them in a conflict of interest. If a conflict of interest exists, the interested person will be given the opportunity to disclose the material facts to his superiors on the proposed transaction or arrangement. After exercising due diligence, the organization shall determine whether it can determine with reasonable effort a more advantageous transaction or arrangement that will not produce a conflict of interest. The interested person shall not be present in the room during the determination.”

“Compensation review the reporting organization does not pay the salary and benefits of its president. The president received his or her compensation from the organization's parent organization, community loan fund of new jersey, for services rendered to the reporting organization. The parent organization then allocates salaries and benefits to the reporting organization based on the amount of time the executive program management, finance and resource development staff spent on the reporting organization. In determining the compensation of the president, independent members of the parent organization's board of directors use comparable, objective data, including, but not limited to, sector surveys, geographic salary surveys, and other benchmarks. The board's determination is memorialized contemporaneously in a communication maintained by the board vice chair. Compensation of the director of real estate and staff of the reporting organization is determined by the president and human resources using compensation data from similar organizations.”

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

“Employees capc has no employees. All individuals working for capc are employed and paid by community loan fund of new jersey, inc. ("clf"). All forms w-2 are issued by clf. The portion of their salaries allocated to time worked for capc has been properly reported as clf salary expense.”