Brown Lawson Housing Development Corporation

“The board of directors has delegated the management of the rental apartments to multifamily select, inc. The affordable housing apartment complex is regulated by the u.s. Department of housing and urban development as to rent charges and operating methods. The management company was chosen due to its experience in management under these guidelines.”

“A copy of the form 990 is presented to the board members prior to being filed.”

“At the board meetings, directors and officers are expected to report any actual or perceived activities or circumstances that could be construed as a conflict of interest on their part.”

“The governing documents and financial statements are available upon request.”

“Assisted living expenses: program service expenses 40,794. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,794. Administrative rent free unit: program service expenses 13,872. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,872. Other renting expenses: program service expenses 13,178. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,178. Payroll taxes reimbursements: program service expenses 12,662. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,662. Miscellaneous administrative expenses: program service expenses 0. Management and general expenses 12,513. Fundraising expenses 0. Total expenses 12,513. Heating/cooling repairs and maintenance: program service expenses 10,376. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,376. Real estate taxes: program service expenses 10,182. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,182. Mip / service charge: program service expenses 9,807. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,807. Security payroll: program service expenses 5,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,500. Garbage and trash removal: program service expenses 4,537. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,537. Security expense: program service expenses 1,036. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,036.”

“The management company receives a copy of the audit prior to the finalization of the audit. A copy of the audit is given to all of the board members for their comments each year when the audit is up for bid. The board of directors discusses the relationship with the current auditors and makes a determination to maintain the current relationship or contract a new auditing firm.”