Midwest Housing Equity Group Inc.

“A copy of the form 990 is provided to the governing body for their review and approval prior to filing. The audit committee reviews and approves the return along with the full board of directors. The review process used by the organization to review the 990 prior to filing is as follows: a draft of the form 990 is provided to the chief financial officer and is reviewed in detail by the president, the chief financial officer and his staff. The return is not filed until the form 990 and all supplemental information attached to the return have been approved by the chief financial officer. The chief financial officer is the authorized signer for the form 990.”

“All transactions that could be of financial benefit to the above mentioned individuals go through an approval process by independent board members and sub-committees.”

“Compensation is calculated based on the net income of the company. It is also dependent on the company's execution of its mission (the financing of quality affordable housing) and ensuring there is no recapture of the federal tax credits. These metrics are measured independently by the company's auditors, who provide a company metrics letters to the board for its review and analysis. The calculation and final amount of compensation is approved by the independent board of directors.”

“Midwest housing equity group does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“W-homes, llc was formed to develop and perform as the co-general partner in partnerships holding affordable housing which are eligible for federal tax credits under section 42 of the internal revenue code. Mheg is the sole member of w-homes. W-homes earns development fees from constructed and rehabilitated projects.”

“The audit process is directed by the chief financial officer. Once the audit is complete, the audit report is presented to the audit committee by the independent auditing firm. All audit committee members have the opportunity to have all questions answered. When the audit committee is satisfied with the audit report, the audit committee recommends to the board of directors that the audit report be approved. This oversight process is completed prior to the annual meeting. When the audit is up for bid, the audit committee recommends to the board whether or not the existing auditing firm should be retained or replaced.”