Tg 110 Inc.

“Delegate control of management duties: 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 property operating as samuel place apartments.”

“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: 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 chief financial officer and vice president of financial compliance review the 990. The executive director reviews and signs the final form 990 and then has it 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.”

“Conflict of interest policy: 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.”

“Determination of compensation: 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 executive director. The organization compensates the ed per an executive director sharing agreement approved by the organization and hcs board 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 one other hcs affiliate pay the compensation and benefits (c&b) for the ed. The chief operating officer (coo) for the organization is also the coo for hcs and wmi. Together hcs and wmi pay the compensation and benefits (c&b) for the coo. The ed with oversight from the hcs compensation committee annually reviews the compensation for the coo. None of the coo compensation is paid by the organization. The chief financial officer (cfo) for the organization is also the cfo for hcs and wmi. Together hcs and wmi pay the compensation and benefits (c&b) for the cfo. The ed with oversight from the hcs compensation committee annually reviews the compensation for the cfo. None of the cfo compensation is paid by the organization.”

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

“Officers and directors reportable and other compensation from the organization and related organizations: 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 organizaton had directly paid the compensation, although it had not.”

“Organization mission: 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 five low-income multifamily housing projects that total 495 units. Of the 495 units, 101 units are available for the benefit of low-income residents and their famiilies making less than 80% of the area median income (ami) while the remaining 394 units are availalble for residents making less than 30% of ami for which the organization assists in maintaining five u. S. Department of housing and urban development (hud) property based section 8 housing assistance payment (hap) rental assistance contracts. The five affordable housing projects operated as separate section 8 programs; glenoak apartments (68 units) lexington manor apartments (153 units with 52 units as section 8) palms at leopard apartments (120 units) samuel place apartments (60 units) woodland creek apartments (94 units)”

“Exempt purpose achievements: the following tax exemptions continued to be received: internal revenue service 501(c)(3) income tax exemption. Nueces county, texas, appraisal district property tax exemptions. State of texas franchise tax exemption. State of texas sales tax exemption. Glenoak apartments: the organization is the sole member of hcs 309, llc that owned and operated through may 19, 2016 the 68-unit glenoak apartments in corpus christi, texas for the benefit of low-income families and individuals making 30% or less of ami. The apartments were sold to tg 110 glenoak, lp (lp), a related party, on may 19, 2016 to be rehabilitated as a low income housing tax credit project. Tg 110, inc. Remains involved in the project as the sole member of tg 110 glenoak gp, llc, which is the general partner of the lp. The organization sustained a hud property based section 8 (hap) rental assistance contract for all 68 units. The hap rent assisted units were made available to families and individuals with incomes of less than 30% of ami. The organization maintained property operations in compliance with the regulations of hud. Hcs 310, llc, samuel place apartments: the organization is the sole member of hcs 310, llc that owns and operates the 60-unit samuel place apartments in corpus christi, texas for the benefit of low-income families and individuals making 30% or less of ami. The organization sustained a hud property based section 8 (hap) rental assistance contract for all 60 units. The hap rent assisted units were made available to families and individuals with incomes of less than 30% of ami. The organization maintained property operations in compliance with the regulations of hud. The organization continued to provide programs, activities, and services for the youth and adult residents and surrounding community. Programs, activities, and services included: case management (informal) and referral services after-school youth program on-line computer access and training adult learning opportunities summer youth activities program national night out and holiday celebrations tax credit entities: the organization formed tax credit entities to acquire, develop, construct, and operate low-income multifamily properties in corpus christi, texas. The organization through single member limited liability companies and limited partnerships maintained property operations in compliance with the regulations of hud and the texas department of housing and community affairs. The organization continued as the sole member of tg 110 lexington gp, llc, which is the general partner in tg 110 lexington, lp that owns and operates the 153-unit lexington manor apartments. The organization continued as the sole member of the palms at leopard gp, llc, which is the general partner in the palms at leopard, ltd. That owns and operates the 120-unit palms at leopard apartments. The organization continued as the sole member of wca gp, llc, which is the general partner in wca, lp that owns and operates the 94-unit woodland creek apartments. The organization continued as the sole member of tg 110 glenoak gp, llc, which is the general partner in tg 110 glenoak, lp that owns and operates the 68-unit glenoak apartments. The organization became the sole member of prosperahcs calallen gp, llc, which is the general partner in prosperahcs calallen, lp that is constructing and will own and operate the 96-unit calallen apartments.”

“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 it leased all operating personnel from employers resource management company, a professional employer organization. The organization reported employee leasing costs in form 990, part ix, lines 5 and 7 to 10, as applicable, as if the leased employees were directly paid employees of the organization.”

“Audit committee: housing and community services, inc. As the controlling entity maintains a standing finance committee to select the independent auditor. The management agent is charged with providing oversight of the annual audit and reviewing the audit report prepared by the auditor. The organization board of directors meets at a regularly scheduled seminnual meeting after the fiscal year end. Prior to this meeting, the board receives a copy of the audit to be issued. Then at this meeting, the board reviews and approves acceptance of the audit report. Two directors will sign the audit report for the organization. The process has not changed from the prior year.”

“TG 110, Inc., 8610 North New Braunfels, Suite 500 San Antonio, TX 78217-6397 Identification Number: 74-2699492 Tax Year Ended: June 30, 2017 Taxpayer elects under IRC Sec. 168(k)(2)(D)(III) not to claim the special depreciation allowance for all eligible classes of property placed in service during the tax year ended June 30, 2017.”