Lutherhaus Incorporated

“Lutherhaus, incorporated is managed by community management corporation, a professional property management company. Community management corporation has a project owner's & management certification for multifamily housing projects with the us department of housing and urban development. Under this certification hud has approved community management corporation to manage the lutherhaus, incorporated property. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

“The members of the corporation shall be limited at all times to individuals who are included in one of the following classes: a.individuals who are trustees, directors or council members of st. Andrew's evangelical lutheran church in america, located in hickory north carolina, or their designees; b.individuals who are trustees, directors or council members of bethany evangelical lutheran church in america, located in hickory, north carolina, or their designees; and c.individuals who are trustees, directors or council members of lutheran services for the aging, inc., located in salisbury, north carolina, or their designees.”

“Except for the appointment of directors in accordance with the by-laws of the corporation the members shall have no voting rights. Directors shall be appointed by st andrews evangelical, bethany elca and lutheran services for the aging (lsa). The senior pastors of st andrews and bethany elca and the president of lsa shall also serve as ex officio members of the board with voice and votes.”

“The outside independent accountant forwards a draft of form 990 to the management company, which in turn disperses a complete copy of the 990 to the board of directors for their review. Upon board approval, the board president notifies the management company to communicate approval to the outside accountant, which issues a final return for the board president to sign and file.”

“The organization does not compensate officers or directors (see page 7, part vii). If the organization revises their position on compensation of officers and directors, an additional policy will be drafted at that time.”

“Form 990 and all related financial and policy information are made available to the public upon written request.”

“Overview of audit function: 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. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”