Independence Square Incorporated

“Page 6, in 1984, suzanne smith management company signed a management agreement to provide management services for the apartments. The fee for these services is seven and one-half percent (7.5%) of gross collections each month. Total fees earned by the management company during the fiscal year ended june 30, 2014 were $14,014. All payroll and related activity (payroll taxes, workers compensation insurance, employee benefits and other) of the corporation is transacted through suzanne smith management company, and totaled $48,710 for the year.”

“Page 6, there are no committees with authority to act on behalf of the governing body.”

“Page 6, the completed irs form 990 is provided to each finance committee member of mission road ministries (related tax-exempt organization) prior to filing with the irs. It is also reviewed by managment of mission road ministries prior to filing. Additionally, the completed irs form 990 is provided to members of the board of the organization prior to filing with the irs.”

“Page 6, each interested person has a duty to disclose any actual or possible conflict of interest to the directors and member of committees with governing board-delegated powers considering the transaction or proposed transaction or arrangement. The governing board or committee establishes all the relevant facts with the interested person. Then, in the absence of the interested person, the remaining board or committee members shall decide if a conflict of interest exists. Annually, each director, principal officer, key employee and member of a committee with governing board-delegated powers shall sign a statement indicating his/her understanding and compliance with the conflict of interest policy.”

“Form 990,part vi,section b,line 15a and b, page 6: the corporation contracts apartment management with a third party apartment management company. The corporation is goverened by a volunteer board of directors of which two board members are employees of a related organization.”

“Page 6, the corporation will furnish a copy of the forms 1023 and/or 990 upon written request, but it is also posted on our website.”

“Page 6, the governing documents, conflict of interest policy, financial statements, and form 990 are available upon request and at the agency's website. Additionally, financial information is posted on third party websites.”

“Health insurance and other employment benefits: program service expenses 3,268. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,268. Manager salaires: program service expenses 10,267. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,267. Miscellaneous administrative expenses: program service expenses 2,747. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,747. Office salaries: program service expenses 24,861. Management and general expenses 0. Fundraising expenses 0. Total expenses 24,861. Payroll: program service expenses 803. Management and general expenses 0. Fundraising expenses 0. Total expenses 803. Payroll taxes: program service expenses 4,838. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,838. Workman's compensation: program service expenses 554. Management and general expenses 0. Fundraising expenses 0. Total expenses 554.”

“Form 990, part xi, line 2c, page 12: the corporation's board of directors acts as the committee.”