Homeownership Preservation Foundation

“The draft from 990 is reviewed by the management, including internal counsel and the audit committee. Outside legal counsel is also engaged to review the form 990. The draft form 990 is distributed to the full board for review prior to filing with the irs.”

“The policy covers all board members, officers, employees and contractors of the foundation. All are required to complete an annual conflict of interest policy acknowledgement and disclosure form. All conflicts are reviewed by the board and an appropriate remedy determined, which may include recusal from decision making. All proceedigns are documented in the meeting minutes, or as otherwise appropirate.”

“In 2014, colleen hernandez served as the ceo and president of hpf from january 1, 2014 to december 31, 2014. Ms. Hernandez's compensation was paid in accordance with her employment agreement and approved by the board after receiving a recommendation from the compensation committee of the board. In making its recommendation, the compensation committee relied on compensation data from hays group and towers watson, as updated by towers watson. In addition, in 2014 raffa p.c. Provided an opinion letter stating that ms. Hernandez's compensation was both competitive and reasonable. David berenbaum became the ceo of hpf on september 2, 2014. Before mr. Berenbaum was hired, the compensation committee reviewed ceo compensation materials from the hays group and towers watson. The committee also received confirmation from towers watson that the ceo compensation data previously provided to the committee was still pertinent. The compensation committee made a recommendation to the board regarding mr. Berenbaum's level of compensation, and the board subsequently approved mr. Berenbaum's compensation for 2014.”

“Hpf complies with the public inspection requirements of internal revenue code section 6104 by making its form 1023, application for recognition of exemption under section 501(c)(3) of the internal revenue code, determination letter from the irs, and the forms 990 for its three most recently completed tax periods available to the public. However, as section 6104 does not require organizations exempt under section 501(c)(3) to disclose its governing documents, conflict of interest policies, or financial statements, hpf has decided not to make such information available for public inspection.”