Kinneret II Inc.

“Robert hara, a member of the board of directors, is the father of another board member, jacob hara. Dick appelbaum is the father of alison polejes. Ross pearlman, a member of the board of directors is the son of another board member, rhonda pearlman. Olivia share, a member of the board of directors, is the daughter of another board member, geanne share.”

“The organization delegates its financial reporting and compliance functions to a management company, carteret management. Carteret management corporation ("carteret") is the hud-approved managing agent for kinneret. The management agreement provides, among other things, for a management fee of approximately five percent of gross collections. In addition to the management fee, carteret receives a bookkeeping fee of $3 per apartment unit per month.”

“The membership of the organization consists of the subscribers to the articles of incorporation. In addition, all directors of the central florida jewish community council, inc. Are eligible for membership in the organization upon application. Other individuals are eligible for membership upon written application.”

“The members of the organization have the power to elect the members of the governing body.”

“Approval of governance decisions is reserved for and subject to the approval of the organization's members.”

“The board of directors identifies a financially sophisticated designee director to review form 990 with our tax preparer/cpa.”

“The board of directors oversees the organization's conflict of interest policy. There is at least annually a requirement for each board member to disclose any conflicts to the rest of the board. A conflicted director is recused from voting on matters related to their conflict.”

“The executive committee of the board of directors, in connection with the budgetary approval by hud of the budget, obtains competitive salary information and establishes a compensation matrix applicable to all organization employees.”

“All policies, copies of form 990, and financial statements are made available upon request to the president of the board of directors.”

“Oversight of the audit: the audit committee of the board of directors has responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.”