Heco Realty Inc

“The organization has one stockholder, 3900 corp.”

“Form 990 was prepared by the organization's accountants from the books and records of the organization. The organization's treasurer was interviewed to obtain information not contained in the books and records. A draft return was distributed to the governing body. Questions and comments were forwarded to the accountants. A meeting of the governing body and the accountants was held to clarify and correct information on the return. A final draft was prepared and submitted to the governing body to review the changes and authorize the filing.”

“The board of directors is composed of the directors of the company's sole stockholder. That board is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the stockholder's conflicts of interest policy, an annual conflict of interest questionnaire aimed at determining personal or business relationships or other transactions that may pose a potential conflict is distributed to all board members, officers and executive leadership or key employees. Annually each of those individuals is required to disclose real or potential conflicts at the time when such conflicts arise by signing a statement affirming that he/she has received, read, and agrees to comply with the conflicts of interest policy. The completed questionnaires are reviewed by a director of the shareholder and the conflicts, if any, are fully disclosed to the board. The procedures for addressing any conflict of interest may include, but are not limited to, the following: (1) the interested person may be asked to respond to questions related to the substance of the transaction or arrangement being considered; (2) the person with the conflict of interest may be excluded from the discussion of such transaction; (3) alternatives to the proposed transaction may be considered; and (4) the transaction or action must be approved by a majority of disinterested persons.”

“See schedule o part vii question 1a and schedule j part iii.”

“The organization provides this information upon request.”

“The officers listed are paid employees of the harry and jeanette weinberg foundation, inc, a related organization. As a part of their employment with the foundation they are charged with managing the affairs of this organization. The organization has reported the average hours as one since their time managing this organization is included in the hours worked for the foundation. The harry and jeanette weinberg foundation undertook an extensive review of its compensation practices for its officers and trustees. The foundation used outside consultants to help determine the proper level of compensation. The outside consultant used comparative data to develop their recommendations. This study was conducted for the foundation and all its related entities. It was presented to the trustees who deliberated, questioned and accepted the recommendation. The study included compensation information for the ceo as well as other officers. Therefore, even though there was no compensation paid directly by this entity the answer to question 15a and 15b is yes. Form 990, part vii, question for hours for related organizations the officers listed are paid employees of the harry and jeanette weinberg foundation, inc., a related organization. As a part of their employment with the foundation they are charged with managing the affairs of this organization. The organization has reported the average hours as one since their time managing this organization is included in the hours worked for the foundation. Each of the officers listed in part vii, column a devote an average of 40 hours a week to related organizations. Directors who are not also officers of the company are independent contractors, and perform their duties as directors on an as needed basis for the foundation as well as the related organizations. These directors average 9 hours a week to the foundation and its related entities.”

“Income distributable to shareholder -220,889.”

“The organization has not changed its oversight process or selection process during the tax year.”