East Little Havana Community Development Corporati

“The Consolidated Financial Statements are presented to the Board for their review and approval. The Income Tax Return Form 990 is drafted based on the financial statements of the Organization for the given tax year. The Form 990 for FY 2016/2017 was submitted to the member's of Organization's Board of Directors on 05/14/2018 for the Board's review and comments. Each Board member provided his/her reviews. The final Form 990 will be filed on 05/15/2018 and a copy of the filing is being submitted to the Board of Directors.”

“- CONFLICT OF INTEREST PROCEDURES -- The organization has written procedures addressing the matter of conflict of interest. At the time that advertising for bidding for any of the development services is undertaken, the Board of Directors and staff inquire as to whether any Board member or family member has any event of conflict of interest with a transaction or contract. Board Members are also required to disclose any known conflicts of interest. Upon identification of any potential conflict of interest, a Disclosure is made to the full Board in reference to any Members that may have an actual or perceived conflict. Any Board Member, who may have a conflict of interest, is required to abstain from discussion and from voting on the item. The remaining Board members analyze and discuss the issue of conflict and make decisions to eliminate the conflict.”

“- KEY EMPLOYEE COMPENSATION - The Compensation level for the Chief Executive Officer was established based on Comparison data on contracted services & salaries and related compensation packages obtained from similar development entities and local government. The Board of Directors was responsible for analyzing and verifying the collected data. The Board of Directors help meetings to discuss, establish, and approve the compensation package. The Key Employee (Executive Director) was hired at the inception of the organization in 1984 and promoted to the Chief Executive Officer position in 1992 holding this position since then.”

“LOCATION AND AVAILABILITY OF FINANCIAL RECORDS -- Organization's Records were located and available, at the main office located at 1699 Coral Way, Suite 302, Miami, Fla., and currently are located at the new Main Office location at 1465 SW 8th Street, Suite 103, Miami, Fla. 33135, upon written request sent to us via US Certified Mail, fax, or email. Records are available for inspection by appointment during regular working hours, Monday through Friday, from 9:00am to 5:00pm Since May 2016, the new main office is located at 1465 SW 8th Street, Suite 103, Miami, Fl. 33135.”

“The 2016/2017 990 Report includes the financial statement data generally submitted under Schedule K-1 for General Partner Rio Towers LLC for Limited Partner East Little Havana Community Development Corporation (ELHCDC), for the Annual Operating Losses including Accumulated Depreciation for Rio Towers. The Line B also includes the Annual Operating Losses Including Depreciation under the K-1 for Brickell View Terrace Affordable Housing Project.”

“The East Little Havana financial Statements include the following expenses: The Rio Towers Operating and depreciation losses of 2016 in the amount of $60,840.31. As well as, the Brickell View Terrace Operating and depreciation losses of 2016 in the amount of $19.”