Otr Adopt Inc.

“Previous to 2015, OTR ADOPT, Inc. (OTR) was denied a loan to purchase and rehabilitate the apartment building at 1620 Walnut Street (the "Property"). After the company was denied financing, OTR's President personally obtained financing for the Property as an authorized representative of OTR and purchased it in his own name on behalf of OTR. OTR made the down payment on the Property, paid the monthly payment on the loan taken by the President, and collected rent from those living in the rehabilitated property. Both the building and the loan were transferred to OTR ADOPT, Inc. in early 2016. OTR also pays all real estate tax and for any expenses that arise associated with maintaining the property. OTR's actions in rehabilitating and managing the apartment building arguably lessens the burdens of government and lessens neighborhood tensions, and certainly combats community deterioration. OTR's actions do not create an IRC issue and should not affect OTR's IRC 501 (c)(3)status.”

“Made available upon request.”

“Comparable data was used to determine salaries. We know the general salaries of other non-profit employees in over-the-rhine, such as 3cdc and over-the-rhine community housing. Otr adopt's project manager salary was comparable to the salary of a project manager at otr community housing, and far less than the salary of the average 3cdc employee. The executive director's salary is almost certainly less than any other executive director of a non profit in over-the-rhine.”

“Pt VI-Line 14-A document retention/destruction policy will be considered by the board at a future meeting. All documents are retained dating back to the first day of organization.”

“Made available upon request.”

“A conflict of interest policy with the required language for a 501(3)(c) is included in the amended articles. At the july 2016 board meeting, otr adopt, inc. Adopted a whistleblower policy. When properties are reviewed for acquisition, it is otr adopt's policy to make sure that the goal is mission-centric and achieves the non-profit purpose. While the otr neighborhood has boomed and others have made significant profits, otr adopt has stayed true to its mission without benefiting its officers or trustees. For properties that are in litigation, there is also court oversight to make sure that otr adopt, as a court appointed receiver, is not financially benefiting from its receivership.”

“The Director reviews the 990 before it is filed.”

“Rental income 22432.”

“Gain on sale of property 154064.”

“Other Income 1000.”

“Accounting 2136.”

“Acquisition expenses 1216.”

“Advertising 1082.”

“Office expense 1624.”

“Design 599.”

“Dues and subscriptions 350.”

“Interest expense 3962.”

“Legal fees 1133.”

“Meals and entertainment 125.”

“Parking 95.”

“Real estate taxes 7246.”

“Various Tax Credit Fees 1228.”

“Accounts receivable 3800. 1000.”

“Prepaid interest in buildings 1600. 29824.”

“Rent deposit 250. 375.”

“Escrow Central Parkway 0. 26820.”

“CDF loan 1620 Walnut 80381. 77848.”

“CDF loan 1702 central parkway 0. 38593.”

“Unearned Revenue 1000. 0.”

“historical tax credit consulting exp 9238. 9238. 0. 0.”

“business license and permit 500. 500. 0. 0.”

“design work for cards 0. 0. 0. 0.”

“payroll company fee 775. 0. 775. 0.”

“other-city weed violation 500. 500. 0. 0.”

“design work 600. 600. 0. 0.”