Chesterbrook Residences Inc

“The entity paid a monthly management fee equal to 6% of gross receipts to an independent management agent. In addition, the entity paid the management agent a financial accounting fee equal to $7.50 per dwelling unit per month. The agreement shall continue for a successive term, no one of which shall exceed one year, unless the entity or the agent gives notice of cancellation to the other not less than 30 days prior to the date of the expiration of such successive term.”

“Chesterbrook residences, inc. Is organized as a virginia non-stock, not for profit corporation. There are 10 directors organizing congregations composed of immanuel presbyterian church, lewinsville presbyterian church and temple rodef shalom each elect 3 directors, who serve staggered 3 year terms. The capital area presbytery appoints 1 director”

“Governance by the congregations and presbytery is limited to the election or appointment of directors”

“There are no other committees which exist that have authority to act on behalf of the governing body. The board of directors is the only governing body with authority.”

“There are no other committees which exist that have authority to act on behalf of the governing body. The board of directors is the only governing body with authority.”

“The preparer provides a copy of form 990 to chesterbrook residences, inc's board chair for review before the return is filed with the irs.”

“Section x of the chesterbrook residences, inc by-laws specifies what constitutes conflicts of interests and makes it mandatory for board members to make disclosures. Additionally, members of the board who become aware of conflict of interest possibilities involving other board members are required to make disclosures to the board of directors. Any board member who knows of the possibility that he/she has a conflict of interest, or that a member of his/her family has a conflict of interest, shall not participate without approval of the board or directors in any meeting, negotiation, or other action of the chesterbrook residences, inc involving the conflicting party. The chesterbrook residences, inc code of ethics reinforces the by-law provisions and extends them to non-board committee members.”

“Governing documents, including the conflict of interest policy and financial statements can be obtained by writing to the secretary of the board of directors, chesterbrook residences, inc 2030 westmoreland street, falls church, va 22043”

“This process has not changed from the prior year.”