Buffalo Neighborhood Stabilization Company Inc.

“Line 7a explanation - the sole member corporation in bnsc is people united for sustainable housing, inc. (push). These entities are also related through common board members and push staff. The organization is governed by a three-member board of directors elected by the push board of directors.”

“Line 11a explanation - the draft form 990 is reviewed in detail with the sole member's finance committee. The treasurer of the board of directors oversees the nonattest services provided by the auditors, including preparation of the form 990. The sole member's audit committee reviews all required schedules and compares the financial data to the audited financial statements and underlying supporting information.”

“The organization has a written conflict of interest policy that is monitered by the board and reviewed annually. Conflict of interest statements are reviewed by a board member for propriety on an annual basis.”

“Officers and key employees are not compensated by the organization”

“Governing documents are available upon request and through the ny attorney general's website”

“Amended return explanation: due to turnover in accounting staff, the independent audit of the organization's financial statements could not be completed by the extended due date of the exempt organization returns. Subsequent to filing the original return, the organization's audited financial statements were issued with an unqualified opinion and the organization's return was amended to conform to its financial statements. The changes made have affected the following areas of the return: form 990, pages 1 through 12, schedule a, schedule b, schedule d and schedule o.”

“Land bank - bnsc established a land bank in the massachusetts avenue corridor in 2009 for the purpose of acquiring and stabilizing vacant and abandoned property. Since that time the land bank has acquired close to 50 properties. Substantial funding has come from the federal neighborhood stabilization program. The land bank provides a mechanism to gain community control over properties in the neighborhood while a future rehabilitation or redevelopment plan is produced. Bnsc has used its land bank properties in a variety of ways. Bnsc has partnered with habitat for humanity buffalo and home front to redevelop houses for home ownership. Bnsc has also created significant new green space in the neighborhood, including the hampshire street and 14th street community gardens, the west ferry butterfly garden, and the school 30 community garden.”

“Oversight of audit of audit of financial statements: the board of directors and management provide oversight for the audit of the financial statements and their selection of the independent auditors.”