Villages Ltd.

“An unrelated management company, fort collins housing authority, performed administrative and management services.”

“There are no committees that can act on behalf of the governing board.”

“The form 990 goes through a multilevel review process. The form 990 is prepared by the organization's independent accountant and is reviewed by an internal accountant, a senior financial analyst and the chief financial officer of the organization. If time permits, the members of the board are provided a copy of the form 990 prior to filing. However, if the form 990 is due prior to a regularly scheduled board meeting, then the form 990 will be filed and the board will review the form 990 subsequent to its filing.”

“The organization performs an annual review of its conflict of interest policy. All officers, trustees, and other employees are required annually to review the policy and disclose any potential conflicts that may be occurring or may potentially occur. The villages' legal counsel and chair of the board of directors shall review any potential conflicts to determine if one exists. Should a conflict exist the respective individual with the conflict shall refrain from further discussions and voting on the issue.”

“The organization does not compensate its officers or board of directors. An unrelated management company, fort collins housing authority, performed administrative and management services and does not pay the executive director, cfo, or board members specifically for the services provided to villages, ltd.”

“The organization makes its governing documents, conflicts of interest policy, and financial statements available upon request.”

“Building contractors: program service expenses 427,925. Management and general expenses 0. Fundraising expenses 0. Total expenses 427,925.”

“The salaries, pension, and benefits reported on the part ix functional expenses represents the reimbursement of expenses by the filing organization to an unrelated management company. The unrelated management company acts as a common paymaster and files the respective w-2s.”