Banjo Lane Apartments Inc.

“Property management activities are performed by the related sponsoring organization, crossroads community, inc., pursuant to a contract approved by hud. Crossroads community,inc. Is a tax-exempt organization under section 501(c)(3) of the internal revenue code. For the year ending june 30, 2025 management fees totaling $5,572 were incurred. Please refer to part vii and for the individuals who are compensated by the related management company.”

“All directors shall, at all times, be limited to individuals who are either members of crossroads community, inc. Or nonmember who have the approval of the board of directors of crossroads community inc.”

“The board acted as a whole on all matters and no committee was appointed during the fiscal year.”

“The form 990 is reviewed by the finance director of crossroads community, inc., and a complete copy of the return is provided to all members of the board prior to filing with the irs.”

“Board members have a continuing obligation to disclose any actual or potential conflict of interest as soon as it is known, or reasonably should be known. An interested party shall complete a conflict of interest compliance and disclosure statement, to fully and completely disclose the material facts about any actual or potential conflicts of interest. The disclosure statement shall be completed upon his/her association with the organization, and shall be updated annually thereafter. An additional disclosure statement shall be filed at such time as an actual or potential conflict arises. For board members, the disclosure statements shall be provided to the president of the board, or in the case of the president's disclosure statement, his/her disclosure statement shall be provided to the secretary of the board. The president or secretary of the board shall determine whether a conflict of interest exists. Whenever there is reason to believe that an actual or potential conflict of interest exists between banjo lane apartments, inc. And an interested party, the board of directors shall determine the appropriate organizational response. This shall include, but not necessarily be limited to, invoking the procedures described below, with respect to a specific proposed action or transaction. - an interested party who has an actual or potential conflict of interest with respect to a proposed action or transaction of the corporation shall not participate in any way in, or be present during, the deliberations and decision making of the organization with respect to such action or transaction. - the disinterested members of the board of directors may approve the proposed action or transaction upon finding that it is in the best interests of the corporation. -approval by the disinterested members of the board of directors shall be by vote of a majority of directors in attendance at a meeting at which a quorum is present. An interested party shall not be counted for purposes of determining whether a quorum is present, nor for purposes of determining what constitutes a majority vote of directors in attendance. -the minutes of the meeting shall reflect that the conflict disclosure was made, the vote taken and, where applicable, the abstention from voting and participation by the interested patty.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.”

“Purchased services: program service expenses 13,655. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,655.”