New Hope Community Development Corporation

“Prior to submission. The audit is presented to the board, but there is no direct review of form 990.”

“And board members complete the fair political practices commission (fppc)form 700. The form 700 is intended to alert public officials and members of the public to the types of financial interests that may create conflicts of interests. The yolo county housing risk manager monitors receipt and submission of the fppc form 700.”

“Governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“With 14 low income units and 33 market rate units (including 1 manager unit) for seniors, which was originally built in the 1980's with funds provided, in part, by the california department of housing and urban development. Nhcdc is also the managing partner of two investment partnerships that, combined, own another 96 low income units in davis and woodland. The board of commissioners of yolo county housing also serves as the board of directors of new hope cdc. New hope cdc has no employees of its own but rather is overseen by employees of yolo county housing. Policies of yolo county housing also apply to new hope cdc although there is no board action establishing that relationship. New hope cdc is a "cost center" in the general ledger of yolo county housing. Except for debt service which is taken directly from nhcdc's bank account, all other expenses are paid through ych's accounts payable. Reimbursement is transferred from nhcdc bank account to ych bank account. Ych charges nhcdc a management fee of $19,320 per year.”

“Residents by (1) acquiring existing housing and/or real property,extending the use of existing real estate, constructing new affordable housing and/or mixed-use property, and redeveloping and/or rehabilitating existing real property for affordable housing and/or mixed-use; (2) managing and maintaining the corporation's real property; (3) creating jobs through small or micro-business lending, business incubator(s), and commercial development programs; (4) providing employment training; (5) establishing community-based economic development programs; and (6) providing education, social services and cultural activities.”

“Description:maintenance total expenses:20453 program services:20453”

“Description:miscellaneous expense total expenses:5560 program services:5560”

“Description:bad debt expense total expenses:2877 program services:2877”