Hispanic Housing Development Corporation

“Directors hipolito roldan, paul slade, and sol flores have a business relationship. All three directors are also directors on a related for-profit organization. Directors hipolito roldan, henry mendoza, and richard figueroa have a business relationship. All three directors are also directors on a related for-profit organization.”

“The board retains the services of an independent cpa firm to prepare the organization's form 990. Management reviews the completed form 990 and provides a full copy to all voting members of the governing body prior to filing. The governing body is provided a reasonable amount of time to review the return and ask questions directly to organization management or the contact at the independent cpa firm prior to filing.”

“The organization's conflict of interest policy is addressed in the business ethics portion of their handbook. This portion of the policy & procedures manual was part of the annual hhdc training for all its employees. Attendance was documented and employees were asked to sign a policy & procedures manual receipt acknowledgement form. The organization requests at least three bids for every job bid from businesses that are related to employees. Family members are not allowed to bid on projects. The organization also provides periodic training for all employees reinforcing their ethics and restating the conflict of interest policy.”

“The executive committee (the committee) of the board of trustees is responsible for the annual review of the compensation of the officers and key employees of the organization. All members of the committee are independent. In determining the compensation of the president, the committee evaluates his performance against previously agreed upon criteria, considers comparable market data, then debates and documents its recommendation of reasonable compensation. In determining the compensation of other officers and key employees, the same procedures are performed; however, the committee considers the president's evaluation of staff performance. The recommendations are then taken to the board for final review and action.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request at the organization's office during normal business hours.”

“Loss from investment in consolidated entities -935,499. Distribution from affiliates 3,173,135.”