Building Equity Initiative Inc.

“The organization's disregarded entity, unitranche capital fund, llc (ucf) has a management/operating agreement with civic builders, inc.'s disregarded entity, civic fund manager, llc (cfm). Per the agreement, cfm will act as the fund manager of ucf. Cfm will furnish services regarding the origination underwriting of loans and the management of loans and other assets held by ucf. The management fee accrued in 2019 for cfm was $966,924. No individual reported on form 990, part vii, section a was paid by civic builders, inc. Or civic fund manager, llc.”

“Building charters fund, inc. (bcf) has one class of members. The initial members of bcf shall be as follows: - one member (the "cb member") shall be civic builders, inc., a new york not-for-profit corporation and a qualified public charity. The member shall act through its chief executive officer or his/her designee. - one member (the "nacsa member") shall be national association of charter school authorizers, a colorado nonprofit corporation and a qualified public charity. The member shall act through its chief executive officer or his/her designee. - one member (the "wff member") shall be the walton family foundation, inc., a delaware nonstock, nonprofit corporation. The member shall act through its executive director or his/her designee.”

“One or more new members that are qualified public charities may be added as members of bcf, by vote of a majority of all the members.”

“Members have the right to appoint and remove one or more directors of the bcf. Members shall also have the right to vote on amendments to the corporation's certificate of incorporation and the by-laws.”

“There are currently no committees that are made up of the board members. The current board oversees all areas of the organization.”

“The organization has its form 990 prepared by an outside accounting firm which is then reviewed by civic builders, inc.'s management prior to distribution to all board members (by hard copy or electronically) for their review. Once the form 990 is reviewed by the board, the return is then filed with the irs.”

“Building charters fund, inc. (bcf) has a written conflict of interest policy, which is monitored and enforced annually. The board currently mandates that all members of the governing body, officers, and key employees annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. An interested person may make a presentation at the board of directors or designated committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The president or chairperson of the board or designated committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. The minutes of the board of directors and designated committees shall contain: a) the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the board's or designated committee's decision as to whether a conflict of interest in fact existed. B) the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings.”

“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, as well as other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request to 180 varick street, suite 1414, new york, ny 10014.”

“The organization presently does not have an audit committee. As such, the board of directors assumes responsibility for oversight of the audit of the organization's financial statements and selection of an independent accountant. The process has not changed from the prior year.”