Provident Affordable Housing Resources Inc

“Provident affordable housing resources, inc. Does not pay any employees, therefore, these lines were answered no in accordance with the instructions. The senior officers of the organization are compensated solely by the related organization, provident resources group, inc. The following is the process used by provident resources group, inc. To determine compensation. The human resources department does a market review of compensation for all officers. That analysis is compared to historical compensation and evaluated relative to the percentile for the industry and size. Combined with performance evaluations, the analysis is presented to the compensation committee comprised of members of the governing board for their review, deliberation, and decision about where to set compensation for the officers. This process was used for the compensation of the chairman, president & ceo and executive vp & cfo. Minutes are maintained to document the deliberations and actions of the committee.”

“See narrative for part vi, line 15a”

“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.”

“During 2013, 2 of the 4 properties of provident affordable housing resources, inc. Were managed by a related company, provident resources management, llc (prm). Prm then contracted with an unaffiliated management agent to oversee the on-site staff and manage the operations of the properties. The other 2 of 4 properties were managed by an unaffiliated management agent. The management fees are 5% of the gross receipts of the properties. The management agreements are on a month to month basis until terminated by either party with 30 days' written notice.”

“Provident resource group, inc. (prg) is the sole member of provident affordable housing resources, inc (pahr). Prg 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 prg: 1. Change in pahr's name, purposes or charitable activities. 2. Further amendment 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 and 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, or consenting to the institution of bankruptcy or insolvency proceeding against pahr, or the filing of a petition seeing or consenting to reorganization of relief under any applicable federal or state law relating to bankruptcy, or 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 assignment for the benefit of creditors, or 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 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 committees sign annually conflict of interest statements. All statements are collected and reviewed by donovan hicks, general counsel. Under his direction, electronic and paper copies of all coi forms are maintained. If a matter concerning a potential conflict arises at a committee or board meeting, 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 available upon written request.”

“In 2013, provident resources group inc. Changed their paid time off (pto) policy. Prior to the change in pto policy, employees (including officers) could carry over unlimited pto from year to year. In 2013, the policy was changed to cap the amount of pto hours employees could carry over from year to year. This change in policy resulted in the payout of substantial paid time off for the officers and key employees who had accumulated significant pto. Total pto payout for steve hicks is $458,070, and debra lockwood is $136,524.”