Ahepa 78 Phase V Inc.

“Angelika magrames, director, and john magrames, director, have a family relationship.”

“The corporation is managed by ahepa affordable management company, inc., an affiliate of ahepa national housing corporation. Ahepa affordable management company, inc. Has a project owner's and management agent's certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved ahepa affordable management company, inc. To manage the underlying project of the corporation. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

“With the exception of a director of the corporation who satisfies the community representation requirements of article vi hereof, membership in the corporation shall, at all times, be limited to individuals who are either members of ahepa national housing corporation, or nonmembers who have the approval of the board of directors of ahepa national housing corporation. In the event that a member of the corporation ceases to be a member of ahepa national housing corporation, or, if the aforesaid approval is withdrawn, then, in either event, such shall constitute automatic resignation as a member and director of the corporation. The director who satisfies the community representation requirement of article vi hereof shall automatically be qualified as a member of the corporation.”

“The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.”

“The form 990 and all related financial and policy information are made available to the public upon written request.”

“All of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed.”

“The management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”