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 properties.”

“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 reviews the 990. The executive director 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.”

“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 two OTHER HCS ASSOCIATES PAY THE COMPENSATION AND BENEFITS (C&B) FOR THE ED.”

“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 EIGHT LOW-INCOME MULTIFAMILY HOUSING PROJECTS THAT TOTAL 778 UNITS. UNITS ARE AVAILABLE FOR THE BENEFIT OF LOW-INCOME RESIDENTS AND THEIR FAMIILIES 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 LEOPARD APARTMENTS (120 UNITS with 100% as section 8) SAMUEL PLACE APARTMENTS (60 UNITS with 100% as section 8) village at henderson apartments (88 units) WOODLAND CREEK APARTMENTS (94 UNITS with 100% as section 8)”

“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. 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 the 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 lp, llc, which is the general partner in tg 110 glenoak, lp that owns and operates the 68-unit glenoak apartments. the organization continued as the sole member of prosperahcs calallen gp, llc, which is the general partner in prosperahcs calallen, lp that owns and operates the 96-unit calallen apartments. the organization continued as the sole member of tg 110 samuel place gp, llc, which is the general partner in tg 110 samuel place, lp that owns and operates the 60-unit samuel place apartments. the organization continued as the sole member of tg 110 village at henderson gp, llc, which is the general partner in tg 110 village at henderson, lp that owns and operates the 88-unit village at henderson apartments. THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TG 110 CASA DE MANANA GP, LLC, WHICH IS THE GENERAL PARTNER IN TG 110 CASA DE MANANA, LP THAT OWNS AND OPERATES THE 99-UNIT CASA DE MANANA APARTMENTS AND IS CURRENTLY REHABILITATING THE 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 a professional employer organization (peo). 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.”

“Other - line 11g amount exceeds 10% of column (a), line 25 list expenses (total line 11g $35,894): the organzation incurred fees totaling $30,374 due to housing and community services, inc. In accordance with a project oversight agreement to provide administrative oversight services for the organization. The organzation incurred fees totaling $5,520 due to lucas & associates, l.p., an unrelated financial consultant, in accordance with a financial monitoring agreement to provide financial monitoring for the organization.”

“AUDIT COMMITTEE: HOUSING AND COMMUNITY SERVICES, INC. AS THE CONTROLLING ENTITY MAINTAINS A STANDING AUDIT 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 SEMIaNNUAL 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. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.”