Actors Fund Housing Development Corporation

“The actors fund housing development corporation is the sole corporate member of friedman residence llc (see schedule r). The building owned by this disregarded entity is managed by breaking ground management company, an unrelated third party.”

“A copy of the draft form 990 was circulated to the full board of directors for discussion and comment. Each director was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.”

“Actors fund housing development corporation ("afhdc") has a conflict of interest policy written in the by-laws, and all officers and directors are required to submit the conflict of interest policy form on an annual basis at a minimum. All individuals are required to inform the organization when a conflict of interest circumstance arises so that it can be resolved immediately and corrective action taken if necessary. Form 990, part vi, section b, lines 13 & 14: actors fund housing development corporation ("afhdc") operates under the whistleblower and document retention policy of its parent organization, the actors' fund of america.”

“Actors fund housing development corporation's form 990 and financial statements are posted on the website of its parent organization, the actors fund. The financial statements, governing documents and conflicts of interest policy are available upon request.”

“In march 2020, the world health organization declared covid-19, the disease caused by the novel coronavirus, a pandemic, which started to and continues to spread throughout the united states. As a result of the covid-19 pandemic, broadway, and film and television, theater, concerts, dance, music and many other areas of entertainment were shutdown. The actors fund housing development corporation has partnered with other entertainment industry organizations to provide emergency financial assistance grants to those in immediate financial need. Additionally, in response to the pandemic, the actors fund incurred additional costs for testing, personal protective equipment, and other operating costs associated with ensuring employee and resident safety while operating during the pandemic. On august 13, 2020, the actors fund housing development corporation was granted a ppp loan in the aggregate amount of $145,975, pursuant to the small business administration paycheck protection program (the "sba ppp") under the cares act, which was enacted march 27, 2020. The ppp loan bears interest at a rate of 1% per annum, payable monthly commencing on november 1, 2020. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, and utilities. The actors fund housing development corporation used the entire loan amount for qualifying expenses. Under the terms of the sba ppp, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the cares act. The actors fund housing development corporation anticipates receiving full forgiveness of its ppp loan.”