Affordable Housing Development Fund Inc

“Rural housing consultants, llc provided consulting to ahdf, inc during 2024 for an annual fee of $720,000, which was substantially below market. Rural housing consultants, llc supplied support services to ahdf and its subsidiary entities under the direction of the officers and directors of ahdf.”

“The treasurer receives a copy of the form 990 from the accountants. The treasurer reviews the form 990 and forwards a copy to each board member. The board of directors meets, asks questions of the tax return preparer and offers any corrections. The board of directors approves of form 990 prior to filing. Either the president or treasurer signs the form 990.”

“Each member is aware of and has a copy of the organization's conflict of interest policy. Time is made available at each meeting of the board of directors to discuss any interests of the individual board members which could give rise to a conflict of interest.”

“The director fees are determined based upon historical data. The fees are given to compensate the directors for their time and efforts associated with the not for profit.”

“The form 990 and audited financial statements are made available to the public upon written request.”

“2024 non-controlling interst: change in consolidated net assets 488,914.”

“Prior to the finalization of the audit, a copy of the audit is given to all of the board memebers for their comments. The board meets with the auditors to discuss the audit and then approves the audit. When the audit is up for bid, the board annually reviews the relationship with the current auditor and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”

“Effective august 3, 2015, the corporation executed agreements to associate with the millennium housing foundation, inc. ("millennium"). Millennium is a wisconsin not-for-profit corporation formed in september 1997 with charitable purposes including, among other things, providing, preserving, developing and facilitating the development of safe, quality, and well-maintained affordable housing communities. Millennium was dissolved in 12/31/2018. Millennium - cudahy, inc. Millennium - janesville i, inc., millennium - janesville ii, inc., and teamster retiree housing of janesville, wisconsin, inc. Finanical information is included in the consolidated financials statements which have been used to prepare this return. Each entity files a separate form 990 as well.”