Progress Transitional Nonprofit Housing Corporation

“The Board of Directors annually appoints an independent accountant to examine and render a report on the financial statements of the corporation as of the close of each fiscal year and review these documents to prepare the annual 990 tax report and reviews and approve the completed 990 tax form prior to submission.”

“The board of directors meet quarterly and at the annual meeting to review financial information as well as, other business as may come before the board.”

“Any salaries, wages, together with fringe benefits or other forms of compensation paid or provided to any employee, officer or director will not exceed the value, which is reasonable and commensurate with the duties and working hours associated with such employment and with the compensation ordinarily paid persons with similar positions or duties. Not anyone, including the president, who is being compensated for their services, can vote on their own salaries. The president is allowed to participate in the discussions concerning his/her salary; however, he/she is not entitled to vote on his/her own compensation.”

“Governing and operational documents are available for viewing documents upon prior request at operational office listed at 13500 East McNichols Road, in Detroit, MI 48205 during normal business hours 9 am to 5 pm week days. The following documents are available for review; by laws, conflict of interest policy, financial records management policy, salary compensation policy, expense report policy, and financial statements are available.”

“These figures represents changes in assets, such as agency owned vehicles used for client transportation and occupancy facility converting from, leased facilities, land contract purchase completion.”