Kinneret 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.”

“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. Management fees to carteret are equal to 6.75% of collections from residential income and miscellaneous income. The term of the management agreement was for three years and expired on november 30, 2016. The management agreement was renewed on december 1, 2016 and expires on november 30,2018 with the option of self-renewal. Under the new agreement, management fees to carteret are equal to 4.89% of collections from residential, commercial, and miscellaneous income.”

“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.”

“The executive committee of the board of directors, in connection with the budgetary approval by hud of the budget, obtains competitive salary information through the association of homes for the aged 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.”

“The organization's payroll and payroll tax expenses are paid by a related organization, kinneret ii, inc. The organization reimburses kinneret ii for such expenses.”

“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.”