Bethel Anathoth Gardens Nfp

“The Corporation has contracted with a management agent, Evergreen Real Estate Services, LLC, for managing the rental operations of the Corporation. Under the management agreement, management fees for the period from July 1, 2016 through June 5, 2017 are $27,126 based on approximately 3 percent of monthly residential income collected or $69 per unit per month. As of June 5, 2017, there were no accrued management fees payable. In addition, the management agreement provides for bookkeeping fees which remained flat in 2017 at $10 per unit per month. During the period from July 1, 2016 through June 5, 2017 bookkeeping fees incurred were $4,800.”

“The board retains the services of an independent cpa firm to prepare the organization's form 990. The form 990 is reviewed by the finance committee before it is filed. The finance committee serves as audit committee and has been designated authority to approve audits and tax returns. The board treasurer or chair signs the form. Copies will then be provided to all members of the board.”

“The policy is reviewed and updated annually during a board meeting. Compliance is monitored and enforced regularly.”

“COMPENSATION REVIEW PROCEDURES ARE PERFORMED BY A RELATED ORGANIZATION, BETHEL NEW LIFE, INC. (36-3013241). The CEO's compensation is determined by the Board of Directors. The activity for determining compensation is led by the Executive Committee of the Board. The compensation of Other officers are determined by the President & CEO who are vested with the authority to determine such salaries. Typically, the salaries reflect the ranges portrayed in compensation studies and disclosed in the annual budget approved by the Board of Directors.”

“The organization provides documents to the public upon request.”

“The compensation from a related organization, bethel new life, inc. Reported in part vii for edward coleman and saul cyvas, is the compensation paid by bethel new life, inc. For their full time positions. Bethel anathoth gardens, nfp does not pay for any of the salary or benefits for these individuals.”

“Anathoth sold the apartment building used for low income elderly and disabled persons to another charitiable organization, Garfield Park Community Council, effective 6/12/17. Anathoth then ceased operations and trasferred all remaining assets after paying all debts and obligations to a related charitiable organization, Bethel New Life, Inc. during the year ended June 30, 2017.”

“Transfer of assets to related 501(c)(3) organization, upon dissolution -2,777,090.”