Build Public DBA Place Lab

“There are no family relationships among the Directors. Director Lou Vasquez and 2014 Executive Director Michael Yarne have business relationships with each other apart from UP. Both are principals of Build Inc., a private real estate developmentfirm. Build Inc. has four other principals. In 2015 Up hired an unrelated Executive Director and Yarne no longer serves as Executive Director.Both Vasquez and Yarne are also owners and members of three separate management LLCs that manage three separate real estate investment LLCs in which they are non-controlling members. Those entities are:650 Indiana Management LLC which manages 650 Indiana Investment LLC1532 Harrison Management LLC which manages 1532 Harrison Investment LLCIndia Basin Management LLC which manages India Basin Investment LLC”

“A PDF of the Form 990 is provided to the Board and to their Counsel for review and approval before filing.”

“All Board Members have been made aware of the conflict of interest policy. Any new agreements are reviewed and evaluated for possible conflicts of interest.”

“UP has a policy for board approval of compensation, and in compensating its employees in 2014 it paid below what it understood to be market rate compensation for similarly skilled people in similarly situated nonprofits.”

“The Board reviews the compensation paid by similar organizations in the area to key employees to arrive at comparable rates to pay its current key employees. The Board will follow this same procedure for any additional employees that it may hire as the need arises.”

“Exemption application has been very recently approved - review of the documents may be requested by appointment at Up Urban's offices. The Board is in the process of establishing its procedures for any further means of public disclosure.”

“Client Note 1 - NOTE ABOUT CALIFORNIA CORPORATE RETURNS FOR YEAR ENDED DECEMBER 31, 2013:The 2013 California Form 199 - Exempt Organization Return has not been included with this set of returns to file. Once UP Urban, Inc. has obtained California Tax Exempt Status, Form 199 will be required, but until that time, the California Franchise Tax Board requires the Corporation to file Form 100, California Corporation Franchise or Income Tax Return (included with this package, with a separate cover letter and filing instructions).”

“The UPLift program has been discontinued as of the end of 2014; in its place the activities in the other programs carried out by UP Urban Inc have been expanded.”

“OTHER PROGRAM SERVICES 4: UPs Build Public Policy Program identifies value capture zoning strategies to benefit the economics and livability of your city. UP works closely with cities to develop innovative mechanisms for protecting public benefit as development intensifies. Smart growth and densification are important, but without proper tools a city can lose its ability to adequately fund the creation and maintenance of its public realm. We set ourselves apart by thinking outside the box and committing to action, moving beyond more strategic planning documents to instead push cities to innovate. Through incisive targeted analysis, we root our recommendations in quantitative data, careful observation, and lessons learned from our team's collective and diverse experience.”

“Accrual to cash difference - A/P decrease = $11558”

“Accrual to cash difference - A/R increase = $3088”