Community Preservation and Development Corporation

“Certain directors have business relationships with other directors' independent of their work with cpdc.”

“Enterprise community development, inc, a corporation exempt pursuant to 501(c)(3) of the internal revenue code, is the sole member of cpdc.”

“Enterprise community development, inc, a corporation exempt pursuant to 501(c)(3) of the internal revenue code, is the sole member of cpdc.”

“Enterprise community development, inc. As sole member of cpdc appoints and can remove directors. All other authority to manage the corporation is vested in the cpdc board of directors.”

“The entire board of directors is given a copy of the 990 return for review and comments. After all comments and concerns have been addressed, the return is finalized and filed with the internal revenue service.”

“The parent organization provides administrative services including the following: an annual conflict of interest disclosure exercise is performed by enterprise community investment, inc. Every year. Officers, and directors, are required to acknowlege the conflict of interest policy and to complete a confict of interest disclosure form. The chief legal officer reviews all disclosure forms from the board of directors, and officers and any potential conflict of interests are referred to the board or appropriate committee of enterprise committee investments's parent board of trustees for review.”

“The organization is controlled by enterprise community development, inc. (ecd). Ecd performs frequent market analysis to assess its compensation structure for its president, officers, and other employees. The analysis is reviewed by the board of directors. The human resources and compensation committee of enterprise community partners, inc. Reviews the reasonableness of the president compensation and makes a compensation recommendation to the ecd board for approval. These processes are documented through meeting minutes of both the human resources and compensation committee and the board.”

“Documents are made available to the public upon request.”

“All transactions community preservation development corporation enters into require either the approval of the real estate committee or board of directors. Each transaction is presented to the board or committee to evaluate whether the transaction advances community preservation development corporation's charitable mission, is financially sound, and in the best of interests of the corporation and its constituents.”

“Cpdc's exempt purpose is to create and preserve financially sound, socially responsible, decent, safe and affordable rental housing for low and moderate income individuals and families.”

“Equity in net income of subsidiaries 5,054,576.”