Centennial Falcon Properties Inc.

“The following individuals review the 990 prior to filing: president, vice president, secretary, treasurer, and directors.”

“The organization has a written policy concerning duality and conflicts of interest regarding the corporation. The conflict of interest policy is enforced through regular and consistent review and discussion at board of directors meetings. Those covered under the conflict of interest policy are directors, officers, employees, and consultants. If the board of directors or the conflict of interest committee has reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, it shall inform the interested person of the basis for such belief and afford the interested person an opportunity to explain the alleged failure to disclose. If, after hearing the response of the interested person and making such further investigation as may be warranted in the circumstances, the board or committee determines that the interested person has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Corrective action shall include undoing the transaction or arrangement to the extent possible and taking any additional measures necessary to place the corporation in a financial position that is not worse than the position the corporation would be in if the interested person had dealt with the corporation under the highest fiduciary standards.”

“The organization's code of regulations stipulates the directors will not receive salaries, fees, or compensation for their services as directors or for their attendance at any meeting or committee meeting. The organization's code of regulations stipulates the officers or key employees will not receive salaries, fees or compensation for their services as officers or key employees or for their attendance at any meeting or committee meeting.”

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

“On august 10, 2017, bowling green state university acquired the student housing facilities and their contents through the defeasance of the series 2010 revenue bonds.”

“In-kind support from bgsu 596,800. Loss on extinguishment of debt -11,721,120. Defeasance of tax-exempt bond 14,104,491. Transfer of fixed assets 349,934.”

“The process has not changed since the prior year.”

“Other changes in net assets in the amount of $596,800 represents in-kind support from bowling green state university. Due to the university's food service management agreement with chartwells and in exchange for use of the dining facilities, the university repays the debt on behalf of cfp ii & cfp iii, as they are of approximately equal value. As such, cfp ii & cfp iii recognizes this payment as a decrease in construction funding payable and as in-kind support revenue. The dining facility asset and corresponding construction funding debt reside on the books of cfp ii & cfp iii. In-kind support totaled $596,800 ($376,364 cfp ii & $220,436 cfp iii).”