Regal Oaks Apartments Inc.

“Through december 31, 2016, the board of directors delegated the management of the rental apartments to north carolina housing services and management corporation. On january 1, 2017, the board of directors delegated the management of the rental apartments to partnership property management. The apartment complex for low-income and elderly individuals is regulated by u.s. Department of housing & urban development as to rent charges and operating methods. These management companies were both chosen due to their experience in management under these guidelines.”

“All decisions regarding the entity must be agreed upon by a majority of the board members. No board member may act independently of the board in matters regarding the corporation.”

“Form 990 and audited financial statements are reviewed, approved and signed by designated officers on behalf of the corporation.”

“Form 990 and all related financial and policy information are made available to the public upon written request.”

“Nursing home: program service expenses 6,679. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,679. Cable tv: program service expenses 5,577. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,577. Office salary reimbursement: program service expenses 3,456. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,456. Garbage and trash removal: program service expenses 3,053. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,053. Misc administrative expenses: program service expenses 0. Management and general expenses 2,523. Fundraising expenses 0. Total expenses 2,523. Payroll tax reimbursement: program service expenses 2,044. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,044. Supplies: program service expenses 2,019. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,019. Snow removal: program service expenses 1,175. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,175. Security: program service expenses 1,075. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,075. Heating/cooling repairs and maintenance: program service expenses 274. Management and general expenses 0. Fundraising expenses 0. Total expenses 274. Other operating expenses: program service expenses 54. Management and general expenses 0. Fundraising expenses 0. Total expenses 54. Fire protection: program service expenses 52. Management and general expenses 0. Fundraising expenses 0. Total expenses 52. Other renting expenses: program service expenses 14. Management and general expenses 0. Fundraising expenses 0. Total expenses 14. Misc financial expenses: program service expenses 5. Management and general expenses 0. Fundraising expenses 0. Total expenses 5.”