Homestart Inc

“Homestart, inc. Entered into an agreement with county corp to perform all the responsibilities with respect to specific housing programs offered by homestart, inc., pursuant to the delegation agreement between montgomery county and county corp. Stephen naas, president, and tracy schultz, treasurer, are compensated by county corp. Total payroll expenses paid by county corp and charged to homestart, inc. Was $159,673.”

“Homestart, inc. Has a single class of members all with equal voting rights. The members elect the members of the governing body, the homestart, inc. Board of trustees.”

“Homestart, inc. Has a single class of members all with equal voting rights. The members elect the members of the governing body, the homestart, inc. Board of trustees.”

“Homestart, inc. Does not have committees, but pursuant to the agreement previously stated, certain administrative functions are delegated to county corp. County corp's audit committee oversees the audit of the financial statements and the selection of an independent accountant to perform the audit.”

“An independent accountant prepares form 990 and all required schedules. The return is signed by the president and provided to the board of trustees prior to being filed.”

“Upon appointment as a new trustee and thereafter annually, all homestart, inc. Board of trustees are required to read and sign the chdo conflict of interest policy created by hud. This policy states that trustees are prohibited during their tenure and for one year after the following: 1) any interest in any contract, subcontract or agreement with respect to a home-assisted project or program administered by the chdo or the proceeds thereunder, or 2) any unit benefits or financial assistance associated with home projects or programs administered by the chdo. Also, county corp employees (who perform duties for homestart, inc. Housing programs offered) are required to read and sign a conflict of interest policy form annually or upon hire as a new employee. This policy states that the employee who has a conflict of interest with respect to a matter shall notify the corporation. The organization also regularly and consistently monitors the affiliations its trustees and employees have as to assist the trustee or employee in reporting conflict of interest they may have.”

“The president and other officers of homestart, inc. Are employees of county corp, a separate tax-exempt organization. The process for determining compensation for the organization's president is a function of the executive committee of county corp who has the authority to perform mid-year and annual reviews of the president and may award an increase within the parameters of a previously approved allotment for all employees of county corp. The county corp executive committee reviews and recommends for approval to the county corp board of trustees an annual budget that may include an allotment for potential increases which may be disbursed on a merit basis. The personnel committee of county corp reviews salary studies and salary comparisons of similar organizations and approves any adjustments in salaries or salary ranges as needed for all employees of county corp. The president and managerial employees of county corp are responsible for completing mid year and annual reviews for their employees and increases may be awarded within the parameters of a previously approved allotment for all employees based on merit.”

“Documents made available as required by law.”

“Cumulative change in accounting principle -120,283.”