Brainerd South Housing Group Inc.

“Brainerd south housing group, inc. Has a contractual relationship with brainerd housing and redevelopment authority to provide management services. These services include property maintenance, managing apartment leases, collecting rents, paying expenses, conducting, as applicable, oversight of compilations, reviews, and audits, and complying with hud regulations. During the calendar year, brainerd south housing group, inc. Paid fees of $50,134 to brainerd housing and redevelopment authority for these services.”

“Each occupied apartment in the brainerd south housing development designates one adult residing in such apartment unit to be a member of the corporation. This membership continues for the duration that such person resides within the brainerd south housing development.”

“Directors shall be elected in the following manner: a. All member directors shall be elected for the stagger two (2) year terms. All members duly registered shall have one (1) vote for each member director. Tie votes shall be broken by the president of the board of directors. B. All non- member directors shall be elected for staggered three (3) year terms. Each member director and non-member director shall be entitled to one (1) vote for purposes of electing non-member directors. Members who are not member directors shall not be entitled to vote for non-member directors. Tie votes shall be broken by the president of the board of directors.”

“Governance decisions are made by the board of directors. Other decisions that would also require the board approval to be obtained would be for large capital expenditures to be authorized or for the use of reserve funds, or for rent increases or to approve a change to any services provided to residents.”

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

“Before the form 990 return is filed with the taxing authority, it is reviewed by the board of directors at a regular board meeting and it is approved by a majority vote.”

“The organization does not make its governing documents or financial statements made available to the public.”

“Brainerd south housing group, inc. Has a contractual relationship with brainerd housing and redevelopment authority. All required year end payroll and information reporting returns have been filed by the brainerd housing and redevelopment authority. The organization did comply with all necessary backup withholding rules for reportable payments.”

“Through an approved contract with an acting management agency, the brainerd housing and redevelopment authority, the brainerd south housing group, inc. Organization assumes responsibility for the oversight of the financial statement compilation and selection of an independent accountant.”