Binnall House Rhf Housing Inc

“Binnall house rhf housing, inc. Is managed by foundation property management, inc., a professional property management company. Foundation property management, inc. Has a project owner's and management agent's certification for multifamily housing projects with masshousing. Under this certification, masshousing has approved foundation property management, inc. To manage the binnall house rhf housing, inc. Apartment community.”

“The organization has one class of members, which consists of retirement housing foundation, the sole member of the organization.”

“The directors will be elected at an annual meeting of the member.”

“Approval of the member is required for disposition of substantially all of the assets of the corporation or a merger, and on a dissolution. The bylaws may be amended or repealed by the vote of the member. Articles may be amended if approved by the vote or written assent of the member.”

“The auditing firm sends a draft of the return to the management company who forwards a copy of the return to each board member for their comments prior to filing.”

“Upon joining the company and annually thereafter, all employees and board members are required to complete and sign a certification acknowledging their understanding and agreement to comply with the company's conflict of interest policy, including disclosing any activities that may appear or may be deemed violations of the policy. Board members and company officers have an additional and more comprehensive conflict of interest policy and certification requirement. Designated management personnel are responsible for tracking the distribution and return of all certifications and for accounting and reporting any disclosures to the company's compliance officer. If further review of any disclosure is merited, the compliance officer forwards the certification to the company's general counsel, ceo and/or board for final disposition. Individuals who have made disclosures are advised of final dispositions. An employee's failure to submit timely certifications, disclosures and/or to take the necessary required actions to avoid conflicts may be disciplined, up to and including termination. If the individual is a board member, he or she may be subject to removal from his or her position.”

“The process for determining compensation for the ceo, executive director, top management officials and other officers or key employees included an extensive review and approval by independent persons.”

“The form 990 and all related financial and policy information are made available to the public upon written request.”

“The compensation listed on schedule j and elsewhere in this return is for services provided to and paid by retirement housing foundation, which is a related organization that sponsors and manages through subsidiaries approximately 175 tax exempt organizations and partnerships that provide affordable and market-rate housing, skilled nursing and assisted living services for senior adults, low income families and persons with disabilities throughout the united states including the district of columbia, puerto rico and the virgin islands.”

“Foundation property management, inc., the management company, receives a copy of the audit. Prior to finalization of the audit, the top level executives at foundation property management, inc. Give their approval. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or to change to a new auditing firm.”

“Interest - note payable: 42,143 management fee: 62,350 payroll taxes & fringe benefits - maintenance: 31,983 incentive management fee: 31,175 asset oversight fee: 28,957 miscellaneous administrative expenses: 41,904 payroll taxes & fringe benefits - administrative: 27,699 snow removal: 22,861 garbage & trash removal: 7,233 elevator maintenance: 16,278 telephone: 9,189 office supplies: 7,888 janitorial material: 8,106 social management: 7,575 advertising: 999 miscellaneous maintenance expense: 11,381 decorating: 1,332 landscaping: 2,772 real estate taxes: 86,717 misc. Taxes, licenses, permits 405 total other expenses on form 990, part ix, line 24e, col a: 448,947”

“For the purposes of schedule r, part v, the following applies: retirement housing foundation and foundation property management, inc. Are california not-for-profit corporations that sponsor or manage approximately 175 tax exempt organizations and partnerships that provide affordable and market-rate housing, skilled nursing and assisted living services for senior adults, low income families and persons with disabilities throughout the united states including the district of columbia, puerto rico and the virgin islands. -line item 1m includes a contract executed by an affiliate of the company, which has been approved by masshousing (mhfa)to provide property management services. The fee for these services is equal to 4% of total effective income plus a 1.00% "mhfa incentive fee", if cash flow is available ($61,633).”