East Edina Housing Foundation Co City of Edina

“The organization delegates management duties to the city of edina. The city of edina assists the treasurer in the performance of duties, edina shall also arrange for the records and books to be audited by an independent certified public accounting firm every three years and edina shall arrange for the preparation of income tax returns and any other reports.”

“There shall be two classes of directors, namely, two (2) city-appointed directors by the city of edina and three (3) authority-appointed directors by the housing and redevelopment authority of edina, minnesota.”

“The organization does not have any committees that have authority to act on behalf of the governing body.”

“The form 990 is prepared by the organization's independent public accounting firm based on information provided by management. Once the draft is available, board members receive a copy of the form 990 before the meeting and have an opportunity during the meeting for questions and/or discussion. The form 990 will be presented to the board of directors before filing with the irs.”

“Each board member has a signed conflict of interest statement held by the organization. The potential conflicts are reviewed at the board level. There have not been any conflicts of interest. The board would review conflicts if they arise. The board president works for a residential development company that cannot compete on requests for proposals when land is available. Another board member is a loan officer who has someone else underwrite loans in which she's directly involved.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Professional fees: program service expenses 2,251. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,251. Constuction fees: program service expenses 11,669. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,669.”