Covenant Apartments II Inc

“Community housing management corp. (chmc) is a related tax-exempt entity that provides management services for covenant apartments ii, inc. Chmc collects rents, pays bills, and generally maintains the housing units. Chmc is also the common paymaster for all employees who provide these services to covenant apartments ii and related entities.”

“Covenant apartments ii amended and restated its bylaws effective january 1, 2020. Revisions included changing various director provisions, such as increasing the number of directors and changing the manner of election, and removing provisions for lifetime directors. Officer language was also revised, and the number of committees authorized by the board of directors was reduced.”

“The finance committee reviews a draft of the 990 and makes suggestions or approves it. Either the president and ceo or a board officer reviews the 990 and signs it on behalf of covenant apartments ii, inc. The full board is provided with copies of the annual audit report and form 990 for review at its next regular meeting.”

“Board members are given the conflict of interest policy at their annual meeting and all members are asked to sign an annual disclosure form. If members are not in attendance or forget to sign the document, follow-up emails are sent, and they are asked to sign and fax back the disclosure form. All employees also complete the conflict of interest disclosure annually.”

“Each year, the board chair and the chair (or a co-chair) of the personnel committee meet to evaluate the president and ceo's performance. The chair (or a co-chair) of the personnel committee also considers what other comparable entities do (if there are any), as well as a comparison to the initial baseline compensation. The board chair or the chair (or a co-chair) of the personnel committee polls the executive committee for comments on performance and compensation. The board chair then meets with the president and ceo to discuss performance and the compensation determined by the executive committee.”

“Documents provided upon written request.”

“Covenant apartments ii, inc., ceased providing housing for seniors at the end of june, 2019 when residents were permanently moved to a newly constructed facility owned by covenant place ii, a related entity.”

“All w-2s are filed by community housing management corp, a related entity that performs management functions for covenant apartments ii, inc.”

“Officer compensation and salaries and wages reported in the statement of functional expenses are covenant apartment ii's allocable share of such amounts; all such compensation is paid by community housing management corp.”