National Housing Endowment a Nonprofit Corporation

“Nhe's board of trustees shall number no less than 1, and no more than 30, and shall have full voting rights. In addition, there are several other classes of trustees: -- the board of trustees may appoint certain ex officio members to the board, which may or may not have full voting rights. These ex officio trustees do not count toward the maximum 30-person board. -- the president of the national association of home builders of the united states shall be an ex officio trustee. -- the board may designate certain persons or donors as "life trustees," a designation that honors cumulative contributions of $1 million or more. All life trustees have full rights and voting privileges, and their number will not count toward the maximum 30-person board. -- the board may designate "honorary trustees" to acknowledge friends of nhe who have made significant professional or financial contributions. Honorary trustees do not have voting rights and will not count toward the maximum 30-person board. Between meetings of the board of trustees, on-going oversight of the affairs of the endowment may be conducted by its executive committee. The national housing endowment executive committee is authorized to review and award grants of $20,000 or less in accordance with that policy approved by the full board of trustees. Any grant of $20,001 or more must be approved by the board of trustees, unless otherwise directed by the board of trustees. In addition, the executive committee can consider management or personnel issues and can make recommendations to the full board of trustees on such matters/issues.”

“NHE's procedure is to e-mail a secure link to an electronic copy of the 990 to its Trustees. NHE's President and CEO also reviews the 990 before it is filed.”

“NHE enforces compliance with the Conflict of Interest policy by requiring annual updates to Conflict of Interest statements sent to the board and committee members.”

“An independent compensation consultant review was performed a few years ago and has been used to set NHE's CEO's compensation.”

“These documents are not typically made available to the public.”

“The audit oversight process has remained unchanged from the prior year.”

“There is a $75,000 discrepancy between the amount of organizational grants reported in form 990, part ix, line 1, and the grant detail reported in schedule i, part ii, "grants and other assistance to domestic organizations." for 2015, the grants listed in schedule i, part ii were the actual amounts paid to the respective organizations listed. However, line 1 in part ix of form 990 reflects a $75,000 reduction in grant expense due to the reversal, during the organization's audit, of an amount mistakenly booked in 2013 as grant expense. Accordingly, schedule i's disclosure of $220,000 in organizational grants has not been adjusted, in order to reflect the correct amounts awarded in 2015. Likewise, the amount in form 990, part ix, line 1 has not been adjusted, to reflect the audit adjustment.”