Reclaim Housing Development Fund Corporation

“Line 8 explanation - on an annual basis the organization documents meetings and significant transactions in the board of director minutes.”

“Line 11b explanation - the board of directors hold an annual meeting in which the outside auditors conduct a presentation and explanation of the certified audited financial statements and the annual tax returns, as well as a discussion of internal controls.”

“The conflict of interest policy is renewed annually with all officers of the organization. Potential conflicts are brought to the executive committee for review and officers found to have conflict of interest are asked to resign or abstain from involvement in all related projects.”

“Currently the organization does not have any key employees but for the future decisions regarding compensation is based on the recommendations of an independent committee that considers performance, scope of responsibilities, and salary compensation for similar positions. Final approval of salary compensation must be approved by the entire board of directors. Currently the organization does not have a ceo, executive director or top management official. All future decisions regarding compensation are based on the recommendations of an independent committee that considers performance, scope of responsibilities, and salary compensation for similar positions. Final approval for ceo compensation must be approved by the entire board of directors.”

“After approval of the financial statements by the board of directors on an annual basis, the organization makes available all governance documents, policy statements, financial statements and tax returns to the public, upon written request. The organization also timely files its annual new york state char 500 report with the nys attorney general and all of its filings are made available through the nysoag charities website.”

“Painting: program service expenses 117,312. Management and general expenses 0. Fundraising expenses 0. Total expenses 117,312. Supplies: program service expenses 80,055. Management and general expenses 0. Fundraising expenses 0. Total expenses 80,055. Electricity: program service expenses 58,631. Management and general expenses 0. Fundraising expenses 0. Total expenses 58,631. Exterminating: program service expenses 25,470. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,470. Permits & fees: program service expenses 15,935. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,935. Miscellaneous expenses: program service expenses 7,240. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,240. Real estate taxes: program service expenses 4,498. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,498. Bad debt: program service expenses 3,219. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,219.”

“Management and board of directors is responsible for oversight of the audit and selection of an independent accountant.”