Foundation for Affordable Housing V Inc

“Deborrah a. Willard (key employee) & darrin willard (president) are related.”

“The corporation shall have two (2) classes of members: voting members and advisory members. "voting members" shall be those persons who have given generously of their resources, (financial and non-financial) talents, time and labor in the spirit of commitment to the corporation and its goals, purposes and programs. Only voting members shall have a right to vote. All initial voting members shall be unanimously approved by the initial board of directors of the corporation ("board") at the initial meeting of the board. Thereafter, a candidate for voting member status must be nominated by at least one (1) director and unanimously approved by all voting members for such a candidate to achieve voting member status. Should all voting members be deceased, additional voting members may be nominated by the board and elected at a special meeting of the board. Criteria to be considered by the board in electing additional voting members are the candidate's merit and commitment or service to the corporation's past, present and future goals, purposes and programs. "advisory members" shall be those persons who apply for membership in the proper form as prescribed by the board, subscribe to and express a willingness to support the corporation's goals, purposes and programs, and make contributions to the corporation. Advisory members shall have no right to vote.”

“The form 990 is reviewed by darrin willard. Questions, discrepancies, and comments are directed to accounting. If further clarification is required, the cpa who prepared the return will discuss the return with the officers before it is finalized.”

“Directors' activities are reviewed on an annual basis as to their adherence to the corporate conflict of interest policy. Each director is required to complete an annual conflict of interest disclosure. Each director, officer, and executive employee is required to complete and sign a conflict of interest statement at the annual board meeting.”

“Approval is required from the board of directors to a one-year employment agreement, with the proposed salary based upon industry data compiled by the economic research institute (www.erieri.com).”

“Foundation for affordable housing v, inc. Has an open door policy in regard to public viewing of its financial and policy information. All requests to view this information are honored. Requestors may view the documents in the corporate offices or the foundation will send them a copy of the requested document. In addition, the tax returns may be viewed on the state of california attorney general's website.”

“The board of directors oversees the audit of the financial statements and is involved in selection of the independent accountant which completes the audit. This process has not changed from the prior year.”