Community Capital Development Corporation

“Trustees of the corporation can elect members of the governing body each year. All board members have equal voting rights, except for ex-officio board members who are non-voting and serve an advisory role only.”

“Form 990 is prepared by an outside accounting firm and reviewed by the president. It is then presented to the board of directors for approval.”

“1. Duty to disclose- in connection with any actual or possible conflcit of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors (and members of committees with powers delegated from the board of trustees)considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3. Procedures for addressing the conflict of interest a. A person may make a presentation at the board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transacation or arrangement involving the possible conflict of interest. B. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board or committee shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committtee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. 4. Violation of the conflicts of interest policy a. If the board or committee has reasonable cause to believe an interested person has failed to disclose actual or possible conflicts of interest, it shall inform the person of the basis for such belief and afford the person an opportunity to explain the alleged failure to disclose. B. If, after hearing the person's response and after making further investigation as warranted by the circumstances, the board or committee determines the person has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Compensation for officers and key employees is determined by the following parameters: comparable data of similar size organizations, employee performance, and length of service. Compensation is then approved by the board based on these key items.”

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

“Yes the organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant. The process by which the organization oversees the audit of the financial statements and selection of an independent accountant has not changed from the previous year.”