Homes for Our Troops Inc.

“Form 990 review process the form 990 is prepared by a national accounting firm in conjunction with internal management. The form 990 is initially reviewed by the organization's senior management and the finance committee of the board of directors. After changes, if any, are made, the form 990 is then distributed to the entire board of directors for review prior to being filed. The form 990 is filed once it is approved by the board of directors.”

“Conflict of interest policy this policy is part of the organization's by laws and it covers all employees, officers, and directors. Potential conflicts of interest are reviewed at the board level. Monitoring is conducted primarily by the director of finance in his/her capacity of reviewing all expenditures and contractual agreements of the organization. Executives of the organization also watch for conflicts arising in the normal course of business and eliminate them or bring them to the attention of the board. Annually, board directors review their situation and sign an acknowledgement of no conflicts of interest. If a conflict exists, the governing body will work with the involved individual to ascertain all relevant facts concerning the conflict. If applicable, the conflicted individual will excuse himself or herself from voting on such matters.”

“Compensation review process compensation of the ceo, executive director, and other officers is determined by the board of directors on an annual basis based on data obtained from various sources, including forms 990 of comparable organizations, and non-profit salary and benefit studies available from industry sources. Both were reviewed in fy20 for fy21 salaries, although there were no salary increases for fy21 due to the pandemic. The compensation committee also reviews and approves the overall compensation recommendation for the next fiscal year prior to its inclusion in the budget, which is approved by the finance committee and the board of directors.”

“Documents available to public the organization's financial statements are posted on its website and are also available via postal mail or e-mail upon request. The organization does not make its governing documents or conflict of interest policy public.”

“Hfot transfers home deeds directly to veterans as part of its mission. Although the veteran pays no mortgage, hfot places a 10 year lien on the home. This protects the veteran from losing the home due to home equity loan foreclosure and safeguards our donors' investments in the program; it also provides a period of time for the family to become more financially stable. Beginning in year six, the veteran accrues 20 percent equity per year until he/she has full equity after 10 years in the home. Of the 325 veterans for whom we have transferred homes, only seven have moved out before the end of their lien period. This is reflective of our thorough selection process, and follow up once the veterans are in their home. For fy21, the cost of the homes transferred to veterans is reflected as "other assistance to domestic individuals" in part ix, line 2. Homes for our troops, inc. Does not provide cash grants to veterans.”