Pacific Housing Development Inc.

“The directors of the corporation shall, at all times, be limited to individuals who are either members of the sponsor entity, ltsc community development corporation, or nonmembers who have the approval of the board of directors of the sponsor. In the event that a director of the corporation ceases to be a member of the sponsor, or in the event the aforesaid approval of the sponsor is withdrawn, then, in either event, such shall constitute automatic resignation as a director of the corporation.”

“Pacific housing development's outside auditors prepare the form 990. The form is then reviewed and approved by the organization's chief financial officer and the director of finance of the property management company. The form is then sent to the governing board for approval before filing.”

“Pacific housing development inc. (phdi) requires all employees to disclose, at least annually, all sources of income from compensation or from ownership of every outside entity that (a) sold, supplied or provided services. (b) operated a competing enterprise or (c) provided goods or services to phdi in the last six months. Phdi also requires all directors to annually sign a statement affirming (a) receipt of phdi conflict of interest policy (b) understanding of the policy and (c) agreement with the policy. Phdi conflict of interest policy describes how phdi will resolve possible conflicts of interest.”

“Some or all of these items may be available as part of a public grant application. However, there is no process for making these available to the public.”

“Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”