Five Cap Inc.

“Part vi, section b, line 11b the executive director reviews form 990 with the executive committee prior to its submission and provides the full board with copies of the report at the next board meeting.”

“Part vi, section b, line 12c the conflict of interest policy is reviewed with the governing body and the staff once each year, and each governing body member and each staff person must annually sign an affidavit indicating that there is no conflict of interest or must disclose any potential conflict of interest. Any disclosure is reported to the board of directors at publicly held meetings of the board and is recorded in the minutes of the board of directors meeting.”

“Part vi, section b, line 15a & 15b a comparison of the chief executive officer's compensation is conducted every three years. The comparison is then approved by the board of directors.”

“Part vi, section c, line 19 all funding sources, public and private, are provided access to the governing documents, conflict of interest policy, financial statements and form 990 as part of the contract requirements, and the documents are routinely examined as part of the monitoring process. The documents are also reviewed at publicly held board of director meetings and incorporated in the minutes of the board of director meetings. Other interested parties may make arrangements to review the documents by contacting the chair of the board of directors or the executive director by mail at p.o. Box 37, scottville, michigan 49454.”

“The organization had an agreement with Michigan State Housing Development Authority (MSHDA) to construct five homes in Baldwin that were available to low-income households. At September 30, 2015 two homes had remained unsold and were classified as assets held for sale. The original cost of these homes was $234,526, and the estimated fair value of these homes at September 30, 2015 was $117,500. The organization recorded impairment charges of $3,750 for the year ended September 30, 2015 related to the decrease in the market value of the homes. These impairment charges were recorded in other costs on the statements of activities. The two remaining homes were sold on October 5, 2015. The selling price was $62,500 each, and the organization received $115,370 in cash after all settlement charges. The remaining $2,130 was recorded as an impairment charge for the year ended September 30, 2016. The organization reached an agreement with MSHDA to pay back $50,000 of the sales proceeds as full settlement of accounts drawn from MSHDA for construction.”

“Description:direct services total fees:552124”

“Description:contracted services total fees:76873”

“Description:contracted labor total fees:92337”

“Description:health & safety lead safework total fees:13461”