Merced Housing Texas

“Property management is delegated to third party professional property management companies. All third party property management employee salaries and benefits are paid by the property management company directly to property management company employees.”

“The finance committee reviews the form 990 prior to filing”

“An interested person must disclose the existence of a financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with the governing board delegated powers considering the proposed transaction or arrangement. A discussion and vote is performed by the remaining governing board or committee members.if appropriate, a disinterested person or committee is appointed to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether a more advantageous transaction or arrangement exists from a person or entity that would not give rise to a conflict or interest. If one is not reasonably possible, the governing board or committee shall determine by majority vote if the transaction or arrangement is in merced's best interest, for its own benefit, and whtether it is fair and reasonable.”

“The personnel committee of the board of directors of merced housing texas review, on an annual basis, the responsibilities, performance, and compensation of the organization's president. This review process happens in conjunction with the finance committee's review and approval of the organization's annual budget and is documented by the chair of the personnel committee. Merced housing texas participates, on an ongoing basis, in not-for-profit organization wage and benefits surveys to compare the organization's pay structure with that of other similar not-for-profit organizations.”

“The governing documents, conflict of interest policy, financial statements, and form 990 are available upon requiest. The form 990 is also available on www.guidestar.org.”

“Multifamily program expenses:property staff 604,763property staff benefits 89,465advertising & marketing 40,646leasing office expenses 166,636property management fees 214,075utilities 457,620operating & maintenance 735,700audit fees 19,100legal & professional fees 5,912bond/trust fees 5,129property taxes 19,873property insurance 303,954interest 786,983 bad debt 1,248 _________total multifamily expenses 3,451,104 =========”