National Housing Trust-Enterprise Preservation Corporation

“The property owned by nhte southpoint llc is managed by crossroads, llc, an unrelated party, pursuant to a management agreement. The management agreement provides for fee computed as the greater of a monthly fixed fee of $3,444 or of 5% of the actual rent collections for the preceding month. The property owned by nhte copeland manor llc is managed by vision realty management, llc, an unrelated party, pursuant to a management agreement. The management agreement provides for fee computed as the greater of a monthly fixed fee of $36 per unit or of 4.25% of the total monthly gross rental receipts. The current management agreement also provides for a bookkeeping fee of $3 per unit per month. The property owned by nhte landfair llc is managed by crossroads, llc, an unrelated party, pursuant to a management agreement. The management agreement provides for fee computed as the greater of a monthly fixed fee of $3,276 or of 5% of the total monthly gross receipts. The property owned by west hartford preservation llc is managed by the housing authority of the town of west hartford, an unrelated party, pursuant to a management agreement. The management agreement provides for fee computed as 5% of rent collections. The property owned by east river preservation partners llc is managed by eagle point management, an unrelated party, pursuant to a management agreement. The management agreement provides for fee computed as 5.5% of total operating income receipts. The property owned by mass place apartments llc is managed by quantum real estate management, llc, an unrelated party, pursuant to a management agreemeent. The management agreement provides for fee computed as 4% of actual rent collections.”

“An equal number of directors are to be appointed by the board of directors of national housing trust, the board of directors of the enterprise foundation or by an officer of either board of directors authorized to make such appointment, in accordance with bylaws article 2 section 3.”

“The draft tax return is reviewed by the corporate officers who resolve any questions before finalizing the return. A copy of the finalized 990 is provided to the full board of directors before filing with the irs.”

“Each Member is provided a copy of NHT/Enterprise's Conflict of Interest Policy and the Conflict of Interest Declaration upon joining the Board of Directors. Until the Declaration is signed, they are not a voting member of the Board. Every year, in the month June, each Board member signs a new Conflict of Interest Declaration which is maintained by the administrative staff.”

“National Housing Trust - Enterprise Preservation Corporation does not have any paid staff. The National Housing Trust(NHT), an affiliate organization, provides staffing for the organization. The President, Vice President and Secretary of NHT/Enterprise are also officers of NHT. NHT has a Compensation Committee made of members of its larger Board of Directors. On an annual basis, this committee works with a 3rd party compensation consultant to determine appropriate compensation for the President, Vice President and Secretary (Controller). The compensation for other NHT staff is determined by the officers.”

“Governing documents available upon request”

“Sue Reynolds - 2815 Camino del Rio South, San Diego, CA 92108. MARY TINGERTHAL - 400 SIBLEY STREET SUITE 300, ST. PAUL, MN 55101. LYDIA TOM - 1 WHITEHALL STREET, 11TH FLOOR, NEW YORK, NY 10004. GREG GRIFFIN - 11000 BROKEN LAND PARKWAY SUITE 700, COlUMBIA, MD 21044. DEBBY BLAZQUEZ - 1101 30TH STREET, NW SUITE 100A, wASHINGTON, DC 20007.”

“Professional Fees: Program service expenses 137,835. Management and general expenses 34,459. Fundraising expenses 0. Total expenses 172,294. Consulting: Program service expenses 1,312,375. Management and general expenses 314,791. Fundraising expenses 78,019. Total expenses 1,705,185. Employee Benefits: Program service expenses 99,448. Management and general expenses 4,133. Fundraising expenses 1,033. Total expenses 104,614.”

“Utilities $269,373 repairs and maintenance 86,902 real estate taxes 97,078 insurance 303,617 r&m contracts 650,268 rent expense 324,171 mortgage interest 606,669 total occupancy expense $2,338,078”

“Describe changes in committee oversight of the financial statement audit - no changes from prior year”