Provident Affordable Housing Resources Inc

“Whenever the board of directors shall consist of more than three persons, the board of directors may designate from their number an executive committee and other standing committees. Such committees shall have such authority as the board of directors may delegate except to the extent prohibited by law. In addition, the board of directors may establish special committees for any lawful purpose, which may have such powers as the board of directors may lawfully delegate.”

“Philip j. Kennedy is the sole member of provident affordable housing resources, inc. (pahr). Philip j. Kennedy appoints the members of the pahr governing body and approves certain decisions made by the pahr governing body. The following matters and transactions require the approval of philip j. Kennedy: 1. Change in pahr's name, purposes or charitable activities. 2. Further amendement to pahr's articles of incorporation or bylaws. 3. Issuance of notes, bonds or other evidences of indebtedness in excess of $250,000. 4. Purchase, sale, alienation, encumbrance or lease of real or personal property having a value in excess of $250,000. 5. Appointment and removal of the president or ceo. 6. Approval an adoption of the annual budget of pahr. 7. Voluntary dissolution or liquidation of pahr or the consolidation merger of pahr with or into any other entity. 8. Voluntary institution of proceedings by pahr to be adjudicated bankrupt or insolvent; consenting to the institution of bankruptcy or insolvency proceeding against pahr; filing a petition seeing or consenting to reorganization of relief under any applicable federal or state law relating to bankruptcy; consenting to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of pahr or a substantial part of property of pahr or making any assignemnt for the benefit of creditors; admitting in writing its inability to pay its debts generally as they become due or taking corporation action in furtherance of any such action.”

“See narrative for part vi, line 6.”

“See narrative for part vi, line 6.”

“The final draft of the form 990 was reviewed in detail by management. The final draft was then presented to the audit committee (comprised of non-management board members) for their review and information. Following the audit committee's review, each voting member of the governing body received a copy of the form 990 before it was filed with the irs.”

“All members of senior management, board of directors and board commmittees sign annual conflict of interest statements. All statements are reviewed by the chief compliance officer. Electronic and paper copies of all coi forms are maintained. If a matter concerning a potential conflict arises at a committee or board meeing, the conflict is evaluated without the potentially conflicted member and a determination is made by the committee or governing board about whether the person should be restricted from discussion and vote.”

“The organization's financial statements, conflict of interest policy, and governing documents are avialable upon written request.”

“Consulting and developer services provided to organizations related to the acquisition, rehabilitation, and construction of various multifamily affordable housing complexes to be rented to or used by low income or very low income residents.”

“Consulting fees: program service expenses 0. Management and general expenses 19,794. Fundraising expenses 0. Total expenses 19,794.”