Lakewood Development Corporation

“Board of directors will review all federal tax filings and approve before submitting to the irs.”

“A form prescribed by the state of new jersey is completed annually that requires all board members and employees to disclose all related parties and sustain from voting on issues in which a conflict is present.”

“The executive director position is appointed by the board of trustees and tacitly approved by the state of new jersey through the administrative budget grant. All employees of ldc are hired by the executive director and their salaries and increases are approved by the board of trustees.”

“Financial statements are made available to the public on the internet at www.guidestar.org.”

“Shuttle liaison: program service expenses 137,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 137,500. Revolving loan program: program service expenses 111,248. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,248. Advertising marketing events: program service expenses 105,551. Management and general expenses 0. Fundraising expenses 0. Total expenses 105,551. Strand theater phase iii: program service expenses 97,776. Management and general expenses 0. Fundraising expenses 0. Total expenses 97,776. Oem drones and training: program service expenses 63,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 63,350. Uez bdo vehicle: program service expenses 40,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,000. Fap programs: program service expenses 37,443. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,443. Loan forgiveness viii: program service expenses 23,553. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,553. Business directory and outreach: program service expenses 20,185. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,185. Due diligence funding: program service expenses 19,701. Management and general expenses 0. Fundraising expenses 0. Total expenses 19,701. Downtown security cameras: program service expenses 16,455. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,455. Success project: program service expenses 10,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,000. Police safety initiatives: program service expenses 10,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,000. General insurance: program service expenses 7,914. Management and general expenses 1,056. Fundraising expenses 0. Total expenses 8,970. Foreign trade zone: program service expenses 0. Management and general expenses 4,112. Fundraising expenses 0. Total expenses 4,112. Utilities properties: program service expenses 3,944. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,944. Police drones and training: program service expenses 2,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,400.”

“Transfer of property to the township of lakewood -3,178,560.”

“A draft of the financial statements is presented to the trustees for review and approval.”