Tg 110 Inc

“The organization contracts with wedge management, inc ., a related taxable corporation, to serve as its management agent and as management agent for the operational activities of its low-income housing properties .”

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

“The executive director is charged with the timely and accurate preparation and filing of the annual form 990. An independent cpa firm prepares a draft of the form 990. The management agent reviews the 990. The executive director or chief financial officer reviews and signs the final form 990, which is then filed. A copy of the form 990 that was filed is provided to the board of directors at the board meeting subsequent to the filing of the form 990.”

“At the annual meeting of the board members, all are asked to review and sign a new policy statement and advise the board if any conflicts exist.”

“Housing and community services, inc. (hcs), a 501(c)(3) tax exempt organization, maintains control of the organization by its power to appoint the majority of the members of the board. The executive director of hcs also serves as the compensated executive director (ed) of the organization. The hcs board of directors establishes a compensation committee annually to review compensation for the ed. The organization compensates the ed per an executive director sharing agreement approved by the organization and hcs boards of directors. Wedge management, inc. (wmi) is a related taxable corporation that provides property management and accounting services to the organization. The ed of the organization is also the ceo of wmi. Together hcs, wmi, the organization, and two other hcs associates pay the compensation and benefits (c&b) for the ed.”

“All documents are available upon request. The annual form 990 is available on the guidestar website.”

“Officers and directors compensation and other compensation reported as applicable in columns e to f were the compensation paid to the top officials of the related management agent required to be reported as if the organization had directly paid the compensation, although it had not.”

“The organization was incorporated as a nonprofit corporation in the state of texas on october 26, 1994. The mission of the organization is to preserve assisted housing for families in need, develop a strong community and promote self-sufficiency for all residents. The primary activity of the organization is to provide oversight and guidance for the ownership and operation of eleven low-income multifamily housing projects that total 1,001 units. Units are available for the benefit of low-income residents and their families making less than 30% and 80% of the area median income (ami). The organization assists in maintaining six u.s. Department of housing and urban development (hud) property based section 8 housing assistance payment (hap) rental assistance contracts. The low-income multifamily housing projects are : calallen apartments (96 units) casa de manana apartments (99 units with 100% as section 8) glenoak apartments (68 units with 100% as section 8) lexington manor apartments (153 units with 52 units as section 8) palms at blucher park apartments (72 units) palms at leopard apartments (120 units with 100% as section 8) samuel place apartments (60 units with 100% as section 8) village at greenwood apartments (69 units) village at henderson apartments (88 units) village at mcardle apartments ( 82 units) woodland creek apartments (94 units with 100% as section 8)”

“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 provided by housing and community services, inc with reimbursement by the organization. The organization reported reimbursement costs in form 990, part ix, line 5 and 7 to 10, as applicable, as if the operating personnel were directly paid employees of the organization.”