Chv Buckingham Housing Development Fund

“Shinda management corporation (shinda) manages the project pursuant to a property management agreement which provides for property management fees of 6% of gross rents collected plus reimbursement for site property manager salary. For the year ended june 30, 2024, property management fees totaled $29,344.”

“The directors of the corporation shall be limited to individuals who are either members of the board of directors of camba housing ventures, inc. (a related entity) or who have been approved pursuant to a resolution of the board of directors of camba housing ventures.”

“The organization does not have any committees with authority to act on behalf of the board.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board for approval. If any issues arise, they are forwarded to the outside accountant and the board reviews after revisions and resolutions. Once the board has approved the return it is filed with the internal revenue service.”

“The organization follows the conflict of interest policy of its parent, camba, inc. Each director, officer, and key employee shall annually sign and submit to the secretary of camba a statement, which affirms such person: (a) has received a copy of the policy, (b) has read and understands the policy, and (c) has agreed to comply with the policy. All transactions, agreements or any other arrangements between camba and a related party, and any other transactions that may involve a potential conflict of interest, shall be reviewed by the independent directors of the board. All related parties with a financial interest shall leave the room in which such deliberations are conducted, and shall not attempt to influence the deliberation or voting on such matter. The board shall, after considering alternate transactions and/or comparability data, determine in good faith by vote of the independent directors of the board whether the transaction or arrangement is fair, reasonable, and in the best interest of camba at the time of such decision.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990, and by-laws are also available upon written request or by calling the organization directly.”

“The organization has not formally adopted its own document retention and destruction policy or whistleblower policy. However it does follow its parent's (camba, inc.) policies.”