Tg 305 Inc

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

“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 form 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 uncompensated executive director (ed) of the organization. The hcs board of directors establishes a compensation committee annually to review compensation for the ed. None of the ed compensation is paid by the organization. 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, and three 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 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 lines 7 to 10 as applicable as if the operating personnel were directly paid employees of the organization.”