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.”

“The organization uses the modified cash basis of accounting as it books depreciation and also maintains prepaid assets on its books.”

“Rental income”

“Gain on sale of property”

“Other Income”

“Accounting”

“Acquisition expenses”

“Advertising”

“Office expense”

“Design”

“Dues and subscriptions”

“Interest expense”

“Legal fees”

“Meals and entertainment”

“Parking”

“Real estate taxes”

“Various Tax Credit Fees”

“Accounts receivable 1000.”

“Prepaid interest in buildings 29824.”

“Rent deposit 375.”

“Escrow Central Parkway 26820.”

“CDF loan 1620 Walnut 77848.”

“CDF loan 1702 central parkway 38593.”

“Unearned Revenue 0.”

“historical tax credit consulting exp 4710. 4710. 0. 0.”

“business license and permit 536. 311. 225. 0.”

“parking 44. 0. 44. 0.”

“payroll company fee 765. 520. 245. 0.”

“bank charges 56. 0. 56. 0.”

“building renovation expense 13318. 13318. 0. 0.”

“consulting 68. 68. 0. 0.”

“other admin 268. 0. 268. 0.”

“postage & delivery 47. 0. 47. 0.”