First Community Ame Housing Inc.

“The Organization signed a management agreement with Samaritas to provide services, oversight, and staffing for the facility.”

“Sanaritas, a related organization, elects the majority of the Organizations board of directors.”

“Once the Form 990 is complete, before submission to the IRS, the Form 990 will be provided to the Board of Directors for their review.”

“The Organization regularly and consistently monitors and enforces compliance with the written conflict of interest policy by monitoring contracts, invoices, and personnel and also by attending board meetings.”

“Generally, the governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“General R, Part II, Related Party Disclosure:The Organization is managed by Samaritas. All staffing for the Organization is provided by Samaritas. The Organization reimburses Samaritas for all related staffing expenses. An employee of Samaritas also serves as the on-site manager of the Organization.Samaritas provides certain management services to the Organization in accordance with a management agreement. Under the terms of the agreement, the Organization pays Samaritas a management fee equal to 5.55% of rental income which is limited to $44 per occupied unit per month. Total management fees for 2016 was $11,694.Samaritas has a defined-contribution regular pension plan (Plan), which covers substantially all employees of Samaritas who staff the company. The Plan offers employees the opportunity to participate in the ELCA Master Institutional Retirement Plan administered by Portico and their relationship with Fidelity. Samaritas will match 133 percent for each dollar the employee contributes up to 1.5 percent of earnings per pay. The Samaritas contribution will be capped at 2 percent of earnings per pay.”