Ach Landowner

“The single member of ach landowner is ach child and family services ein #75-0818140, an exempt entity.”

“Ach landowner's sole member, ach child and family services, annually elects the board of directors.”

“The board of directors may amend, modify or repeal policies regarding ach landowner's use of funds with the approval of its member.”

“The organization does not have any committees that have authority to act on behalf of the governing body.”

“The form 990 is reviewed by the officers of the organization and then emailed to all board members before filing.”

“Board members, paid consultants, advisory committee members, and employees of the organization and related entities are educated about the conlict of interest policy at the beginning of the year (or at the beginning of their relationship with the organization or related entity). They sign a form acknowledging their understanding and disclosing any actual or potential conflicts of interest. Directors cannot participate in any vote taken with respect to their disclosed conflicts of interest. Should a director become a client during their term, they will resign their term as director. The chief executive officer and/or chairman of the board review signed disclosure forms, investigate, and bring resolution to the actual, potential, or perceived conflict and will advise the reporter in writing of the resolution. The resolution is documented in the board's minutes or employee file. If someone in the organization or its related entities identifies a potential conflict that was not disclosed, the board member is contacted in order to discuss. After making any investigation as warranted, the chairman and the chief executive officer determine whether there was a failure to disclose a conflict of interest and determine the appropriate disciplinary action to be taken.”

“All documents available upon request.”

“Gain on forgiveness of new market tax credit debt originated by a related 9,157,108. Party.”

“In 2010, as part of a new market tax credit (nmtc) arrangement ach child and family services (ach), a related party, loaned money to an unrelated third party which placed these funds with investment vehicles which in turn lent the funds to ach landowner. After the 7 year nmtc period expired in june 2017, ach landowner exercised its option for early repayment and forgiveness of debt. It realized a gain of $9,157,108 on the loan that corresponded to ach's original loan. Ach settled its note with the third party on the same terms and took a loss of $9,157,108. Within the affiliated group there was no net gain or loss. As a result, this is being reported as an "other change in net assets" on form 990 to more accurately reflect the financial activity of ach landowner.”