Bronxview Housing Development Fund Corporation

“On an annual basis the organization documents meetings and significant transactions in the board of director minutes.”

“The board of directors must approve the annual federal tax form 990 and the related state tax filings after it has received these documents from the outside independent auditors and accountants in an annual board meeting.”

“On an annual basis, the board of directors reviews actual or potential conflicts of interests with board members and officers. The policy is distributed to all board members.”

“The organization makes available all governance documents, policy statements, financial statements and tax returns made to the public, upon written request.”

“Initial short period tax return the organization was formed on november 24, 2014, as a domestic not-for-profit non-stock new york state housing development company. There are no shareholders. On december 7, 2018, the irs exempt organizations director issued its letter granting the organization exempt status, effective november 29, 2016. Accordingly, effective november 29, 2016, the organization is exempt from federal income tax under 501(c)(3) and is filing its initial federal form 990. The organization has filed its federal form 1120 tax return as a for-profit c corporation through the year ending december 31,2017. The organization did not cease doing business nor has it ceased its existence. The organization will continue doing business as a tax-exempt organization.”

“On june 21, 2018, the company disposed of all of its assets (land and improvements) in exchange for an investment note receivable of $5,735,000 the buyer acquired the assets and assumed all liabilities, secured and unsecrued owed at the date of conveyance. After completing construction, the buyer will continue to operate this project as an affordable residential housing project and accordingly, the organization's exempt activities continue through its investment in the building project via the note receivable.”