Hialco-Oic Housing Assistance Inc

“Delegate control of management duties: the organization contracts with wedge management, inc. (wmi), an unrelated taxable corporation, to serve as its management agent for the operational activities of its low-income housing properties.”

“Document governing body meetings and actions: the organization board of directors held no meetings during the year. However, if meetings were held, then meetings and actions taken would be contemporaneously documented.”

“Document committee meetings and actions: the organization board of directors maintains no committees. However, if committees are appointed, then committee meetings and actions taken would be contemporaneously documented.”

“Form 990 review: an independent cpa firm prepares a draft of the form 990. Wmi reviews the financial data of the 990. One of the directors reviews, approves, and signs the final form 990. Copies of the filed form 990 are provided to all the directors subsequent to the filing of the form 990.”

“Conflict of interest policy: the organization has not yet established a written conflict of interest policy.”

“Determination of compensation: no compensation is paid by the organization to the directors and its officers.”

“Disclosure of organization documents and policy to public: all documents are available upon request. The annual form 990 is available on the guidestar website.”

“Reportable compensation from the organization and related organizations: as a result of the organization paying wmi as a management services company, the wmi top officials are listed in part vii officers and directors. The wmi top officials are compensated by wmi and not by the organization. The wmi compensaton is not reported in part vii, columns e to f, under the taxable organization employee exception.”

“Number of employees reported on w-3: the organization had no employees during the period and does not expect to pay wages in the future. The organization was not required to file a form w-3, because all operating personnel were initially leased from a professional employer organization (peo) and later provided by housing and community services, inc. (an unrelated third party) with reimbursement by the organization. The organization reported employee leasing and reimbursement costs in form 990, part ix, lines 7 to 10, as applicable, as if the operating personnel were directly paid employees of the organization.”