Broadway Housing Communities Foundation

“Pursuant to the foundation's bylaws, its sole corporate member is its parent, broadway housing communities, inc.”

“The foundation's bylaws reserve the power of appointing (and/or removing) the foundation's board members to the sole corporate member, broadway housing communities, inc.”

“The foundation's bylaws reserve certain powers to the member, such as the exclusive power to amend and repeal the bylaws and the certificate of incorporation as well as to establish the size of the board and the composition of its officer class.”

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of trustees in either paper or electronic form for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.”

“The foundation operates under the conflict of interest policy of its parent organization, broadway housing communities, inc. Each officer, director, trustee and key employee of the organization is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the organization. The organization monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. Form 990, part vi, section b, line 13 and 14: broadway housing communities foundation inc. Operates under the whistleblower and document retention policy of its parent organization, broadway housing communities inc.”

“The foundation does not compensate any of the individuals reported on the form 990, part vii; all compensation is paid by a related organization, broadway housing communities, inc. The procedures employed to determine the compensation of these individuals are disclosed on that organization's form 990.”

“Bhcf makes its form 990 available to the public by retaining a copy at its place of business; it is, likewise, published on the internet at www.guidestar.org. The financial statements, governing documents and conflict of interest policy are available to the public at management's discretion. Form 990, part xii: the foundation did not receive a federal award requiring it to undergo a federal audit; however, the foundation's activities are consolidated within the omb circular a-133 received by its parent organization, broadway housing communities, inc.”