Meadow Brook Apartments

“Page 6: management fee and related party transactions the corporation contracts apartment management with a third party apartment management company, suzanne smith management co. The corporation pays a management fee of $34 per unit (18 units) per month to suzanne smith management company. The total management fee for the period ended june 30, 2017 was $7,437. All payroll and related activity (payroll taxes, workers compensation insurance, employee benefits and other) of the corporation is transacted through suzanne smith management company, and totaled $71,806 for the period ended june 30, 2017. Mission road developmental center (organization's sponsor) provided insurance for the organization. The organization reimbursed $5,586 to the sponsor for insurance during the fiscal year and owes the sponsor $550 at june 30, 2017. Mission road developmental center collected proceeds from the insurance company for hail damages in the amount of $31,777 which is reflected in current assets and current liabilities of the finacial statements at june 30, 2017.”

“Page 6: there are no committees with authority to act on behalf of the governing body.”

“Page 6, the completed irs form 990 is provided to each finance committee member of mission road ministries (related tax-exempt organization) prior to filing with the irs. It is also reviewed by managment of mission road ministries prior to filing. Additionally, the completed irs form 990 is provided to members of the board of the organization prior to filing with the irs.”

“Page 6: each interested person has a duty to disclose any actual or possible conflict of interest to the directors and member of committees with governing board-delegated powers considering the transaction or proposed transaction or arrangement. The governing board or committee establishes all the relevant facts with the interested person. Then, in the absence of the interested person, the remaining board or committee members shall decide if a conflict of interest exists. Annually, each director, principal officer, key employee and member of a committee with governing board-delegated powers shall sign a statement indicating his/her understanding and compliance with the conflict of interest policy.”

“Form 990,part vi,section b,line 15a and b, page 6: the corporation contracts apartment management with a third party apartment management company. The corporation is governed by a volunteer board of directors of which two board members are employees of a related organization.”

“Page 6: the corporation will furnish a copy of the forms 1023 and/or 990 upon written request, but it is also posted on our website.”

“Page 6: the governing documents, conflict of interest policy, financial statements, and form 990 are available upon request and at the agency's website. Additionally, financial information is posted on third party websites.”

“Group health insurance: program service expenses 5,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,800. Manager salaries: program service expenses 27,951. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,951. Manager rent free unit: program service expenses 9,132. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,132. Office salaries: program service expenses 15,077. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,077. Payroll: program service expenses 11,198. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,198. Payroll taxes: program service expenses 6,943. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,943. Workmen's compensation: program service expenses 1,653. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,653.”

“Form 990, part xi, line 2c, page 12: the corporation's board of directors acts as the committee.”