Diego Beekman Local Development Corporation

“The sole member of the organization is diego beekman mutual housing association housing development fund corporation.”

“The board of directors shall be chosen by the member of the organization.”

“The member of the corporation may remove a director pursuant to new york law. Additionally the member of the corporation may alter, amend or repeal bylaws and adopt new ones at any regular or special meeting.”

“There are no committees with authority to act on behalf on the board.”

“Diego beekman local development 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, and has been reviewed by management, it is filed with the internal revenue service.”

“A. An interested person may make a presentation at the board or executive 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. B. The chairperson of the board or executive committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board or executive committee shall determine whether the diego beekman mutual housing association, hdfc can obtain reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. The board and its agents shall ensure that there are competitive bids or comparable valuations for all contracts. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or executive committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the diego beekman mutual housing association, hdfc's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. E. Disclosure in the organization should be made to the chief executive officer (or if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board. Disclosure involving directors should be made to the board chair (or if she or he is the one with the conflict, then to the vice-chair) who shall bring these matters to the board.”

“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 organization makes its governing documents, and financial statements available to the public upon written request or by calling the organization directly.”

“The organization's full board assumes responsibility for the oversight of the audit of its financial statements and selection of its independent auditor. The policy for selection and oversight of the independent auditors has not changed since last year.”