Montgomery Housing Partnership Inc.

“The audit committee, representing the organization's governing body, meets to review the form 990, and approves it for filing.”

“The Organization monitors and enforces compliance with the Conflict of Interest Policy by: - Reviewing the conflict of interest questionnaire completed by employees. - Receiving disclosures of proposed covered transactions. - Reviewing the proposed covered transactions to determine whether they meet the standards defined in the conflict of interest policy. - Maintaining minutes and such other documentation that is necessary and appropriate to document its review of covered transactions. - Reviewing the operation of the conflict of interest policy and making changes from time to time as it's deemed appropriate.”

“Compensation is determined by salary surveys and periodic budget analysis. Salary surveys completed by the housing association are reviewed to compare the organization's salaries with other non-profits in similar locations and industries. Budgets and market conditions are periodically reviewed to ensure that increases are appropriate. Salaries for all employees are approved by the President of the organization. The President's salary is approved by the board of directors.”

“Governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Project Development, Asset Management, and Neighborhood Development During the year, MHP resources were devoted primarily to: Developing and directing renovation/construction of affiliated entities' apartment housing projects targeted for low-income residents. Providing asset management services for affiliated entities' residential, low-income real estate properties, including oversight of rental operations and monitoring to continually improve the properties' conditions. Providing, at low-income residential property sites of affiliated entities, community life programs including an after school home work club, teen club, preschool program, summer enrichment program, adult computer classes, and English language lessons for the largely immigrant population. Community-wide health fairs for the residents are held periodically at the property sites that attracts vast attendance and community support. Extending the affordability of previously owned Moderately Priced Dwelling Units (MPDUs) by purchasing, improving, and reselling these units to families and individuals at or below 60% of the area median income, or adding the purchased unit to an affiliated organization's portfolio of MPDUs held for rental to low-income individuals in the MPDU program. Continuing the neighborhood revitalization program in East Silver Spring where MHP is working with an umbrella organization of civic associations as well as individual neighborhood organizations to improve affordable housing and strengthen neighborhoods. In addition, an MHP affiliated organization owns 104 multifamily units throughout this area in 5 neighborhoods. Operating an individual development account program which promotes homeownership for residents of the affiliated entities' rental properties through financial fitness workshops and matching funds to be used for down-payments to purchase their first home.”

“OTHER CHANGES IN NET ASSETS: net change in assets of single member LLC's $62,771.”