North Carolina Community

“Line 13 - whistleblower policy the whistleblower, electronic communications, document retention, confidentiality and conflict of interest policies are distributed and discussed with each employee upon hire. Each employee reads and signs the policies. Copies of the signed policies are kept in the employee's personnel file and a copy is provided to the employee.”

“For 2016, the officers of nccdi will coordinate the form 990 review on behalf of the board of directors and contact the external cpa firm as needed for any inquiries raised during the review process.”

“On an annual basis, the conflict of interest policy is distributed to the board of directors. A full explanation of the policy is given followed by a discussion of what items could constitute a conflict of interest. All in attendance are asked if they have or know of a conflict of interest. If yes, that member is asked to recuse themselves from the discussion and the vote. The chief executive officer follows up with any board member not in attendance. All discussions are documented in the minutes.”

“On an annual basis, the performance and compensation of the chief executive officer are evaluated by the personnel and executive committees of the board of directors. The personnel and executive committees meet with the chief executive officer to review the year's activities and then further discussion is held in a closed session (without the presence of the chief executive officer) to determine whether a compensation adjustment (whether via salary or benefits) is merited. Prior to the meeting with the chief executive officer, the finance department provides the personnel committee with a copy of the most recent salary schedule and relevant market data (compensation research report) to ensure the chief executive officer's compensation is comparable to other similar organizations. After the evaluation, the personnel and executive committees report to the full board and this report is documented in the minutes of the meeting.”

“On an annual basis, the performance and compensation of the staff is evaluated by the chief executive officer. The chief executive officer meets with the staff, individually to review the year's activities and discuss goals. Prior to the meeting, the finance department provides the chief executive officer with a copy of the most recent staff salary schedule and relevant market data (compensation research report) to ensure staff compensation is comparable to other similar organizations.”

“The organization's governing documents, conflicts of interest policy and financial statements are available to the public upon request.”

“Section a - officers, directors, trustees, key employees, highest compensated employees the compensation reported on part vii represents amounts reported on the employee's w-2 as reported to the irs. These compensation amounts differ from the compensation amount reported on part ix. The amounts reported on part ix reflect the organization's share of allocated salaries between the organization and its affiliate, north carolina community development initiative capital, inc. Which in aggregate equal the total compensation expenses for the two related organizations. See schedule r for details.”

“North carolina community development initiative is a statewide public-private partnership that provides leadership and capital investment to high-performance community development corporations (cdc's) as well as other community based economic development endeavors, (i.e. Social enterprises) to improve the well being and quality of life for people in low resource communities.”

“Part iv, line 28c - certain board members of this organization are also board members of the related organization north carolina community development initiative capital, inc. ("nccdic"), ein: 56-2142717 and whose respective businesses or organizations with which they hold executive positions were party to business transactions with the consolidated tax exempt group. These transactions are listed in detail on the sch. L disclosures included on the 12/31/16 form 990 of the related organization. It is the position of both organizations that these business transactions were conducted at "arms-length- and in the normal course of business.”

“Effective january 1, 2016, the organization began a strategic collaboration with the north carolina housing coalition, a north carolina nonprofit corporation (the "coalition"), in which the organizations have committed to a model of shared governance and operational integration. Specifically, an interlocking board structure is utilized by the organizations, where each organization has a board with the same number of directors (but not be identical), elected by each respective organization. A simple majority of the directors of each organization are independent with the remaining minority members being interlocking. The interlocking directors are mutually agreed upon by both organizations. The following actions may only be authorized by the affirmative vote of a majority of each of the independent and interlocking directors present at a meeting at which a majority of each class of directors is present: 1) hiring or firing the ceo, 2) adopting the annual operating budget, 3) adopting the integrated strategic plan or workplan for the coordinated work of the organization and the coalition, 4) amending the articles of incorporation or bylaws, and 5) dissolving the corporation. See also form 990, part iii, line 4b.”

“Rent expense reported on part viii 40,928 rent expense on part viii -40,928 pension contributions -13,394 provision for loan losses per gaap not irc 439,330 total 425,936”