Hadc Ridgeway

“HADC Ridgeway retains the services of Housing Alternatives Development Company (HADC) as the manager of the project with responsibilities for managing, operating, maintaining, servicing and leasing of the project. HADC also has the responsibility for providing congregate care and assisted living services to the residents of the project.”

“The sole member of the Corporation is Housing Alternatives Development Company, a Minnesota nonprofit corporation. The member shall be entitled to vote and shall have such other rights as are provided in these Articles or the Bylaws of the Corporation, in addition to all of the other rights provided to members with voting rights by the Minnesota Nonprofit Corporation Act.”

“At the annual meeting the Board of Directors shall be elected by the member.”

“The bylaws may be amended or repealed only by the affirmative action of the member.”

“No committees are currently acting on behalf of the full governing board.”

“The draft of the 990 is shared with management, the entire board, and outside exempt organization tax counsel for review and comment. The final return is provided to all board members prior to filing.”

“The 2011 COI Policy applies to the Board and defines both financial conflicts and perceived conflict of interest. Board Members with conflicts are required to make disclosure to the Board and upon concurrence that a conflict of interest exists, the Board Member involved is required to abstain from voting on the issue and is to not participate in the discussion other than to provide factual information about the applicant organization or vendor in question when asked. Any abstentions due to the invocation of the COI Policy are to be recorded in the Minutes of the meeting. This same procedure has been applied to the President/CEO and a updated policy will be adopted in the current tax year to expand the coverage to other executive staff.”

“The filing organization does not set the compensation for its Board or President (same is set by Housing Alternative Development Company (HADC), the filer's parent entity).”

“The organization made its governing documents, conflict of interest policy, and financial statements to the public upon request.”

“-Aid low and moderate income households -Advance equal housing opportunity -Combat community deterioration and blight through programs fostering housing and economic development to encourage and strengthen integration in housing -Provide quality senior housing options that offer comfortable living environments, with programs and services that encourage continued independence and active retirement with preventive and supportive health care”

“Net Transfer to Related Organization -47,416.”