Tchfh Lending Inc

“Tchfh lending, inc., amended the articles of incorporation and bylaws to expand the board from seven to nine members, added advisory committee language, and replaced staff level officers with the lending committee of the parent entity board of directors as the board of tchfh lending, inc.”

“Twin cities habitat for humanity, inc. Is the parent and sole member of tchfh lending, inc.”

“At least 51% of the board members of tchfh lending, inc. Need to also be board members of the parent”

“Twin cities habitat for humanity, inc., the sole member, must approve any proposed sale or transfer of tchfh lending, inc.”

“A full copy of the 990 will be reviewed by tchfh lending, inc.'s staff officers and then provided to the full board for approval before filing.”

“The conflict of interest policy applies to any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest. Board members disclose conflicts of interests on a written form once annually. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The proceedings are documented in the meeting minutes.”

“The first president of tchfh lending, inc. Was hired in spring, 2016. In preparation for this hiring, a competitive market analysis was completed by an outside consultant. This analysis included 89 rates of pay for top lending officer, senior mortgage lender, top credit/collections executive, and other similar positions. In non-profit and for-profit institutions. As a result of this analysis, the chief operating officer of twin cities habitat for humanity, inc., who would become the first board chair of tchfh lending, inc., working with the human resources manager of twin cities habitat for humanity, inc. Determined the initial salary for the new president. The decision and deliberation were documented by the tchfh lending, inc. Board chair and the president of the parent entity.”

“The organization's financial statements are available upon request. The organization does not make its governing documents or conflict of interest policy available to the public.”

“Professional fees for organization formation: program service expenses 101,930. Management and general expenses 0. Fundraising expenses 13,663. Total expenses 115,593. Management fee: program service expenses 112,257. Management and general expenses 2,414. Fundraising expenses 6,035. Total expenses 120,706.”