Alexandria Housing Development

“Ahdc rpo unit #1, llc is managed by alexandria housing development corporation, pursuant to the terms of a management agreement. The fee is $100 per month and is payable quarterly. The agreement is in effect on a month-to-month basis unless terminated pursuant to the agreement. The fees are reimbursed to rpo from the city of alexandria police department. For the year ended december 31, 2024, property management fees of $1,300 were incurred and paid. Ahdc ellsworth, llc is managed by s.l. Nusbaum realty co., an unrelated party, pursuant to the terms of a management agreement dated august 1, 2019. The agreement is for one year and will remain in effect on an annual basis unless terminated pursuant to the agreement. The fee is computed at 4.5% of rent collections for the preceding month, as defined. For the year ended december 31, 2024, property management fees of $16,755 were incurred and paid. Ahdc pc dr, llc (parkstone) was managed by jbgs/trs, l.l.c., an unrelated party, pursuant to the terms of a management agreement dated january 28, 2020. The agreement is for an initial two-year term and will remain in effect on an annual one-year term basis unless terminated pursuant to the agreement. The fee is computed at 4% of gross receipt collections. For the year ended december 31, 2024, property management fees of $52,902 were incurred and $0 remains payable. On march 12, 2024, the management agreement was terminated and parkstone entered into a new property management agreement with s.l. Nusbaum realty co., an unrelated third party. Under the new property management agreement, the property management fee is based on 4% of the project's gross rent collections, as defined. For the year ended december 31, 2024, property management fees of $226,053 were incurred and paid. Ahdc four mile rd, llc (park vue) is obligated under the terms of a property management agreement with s.l. Nusbaum realty co., an unrelated party. Fees are computed based on 4% of the gross rental collections as defined by the property management agreement. The agreement is for one year with automatic annual renewals thereafter. For the year ended december 31, 2024, the property management fees of $148,206 were incurred and paid.”

“The draft is reviewed by the executive director, treasurer, and the accountants. The draft is compared to the prior year's return and the financial statements. The executive director or the treasurer gives the approval for the final version of the form 990 to be created.”

“The organization's conflict of interest policy requires that each director, principal officer, and member of board of directors or appropriate committee with delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflict-of-interest policy b. Has read and understands the policy c. Has agreed to comply with the policy, and d. Understands that alexandria housing development corporation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“Alexandria housing development corporation (ahdc) board of directors employed a compensation specialist to analyze the compensation package for the ahdc's president, jonathan d frederick. Ahdc's president used industry reports, namely a local affordable housing regional network report, to ensure salaries for key employees were consistent with the market for like job descriptions. In addition, ahdc measure performance. Performance is assessed based on three major components: progress on planned strategic goals, completion of daily tasks, and fulfillment of the team member's stated job description. The quality of performance is determined by evaluating incorporation of culture values, use of professional development opportunities, and success meeting expectations on behavior and work standards. According to performance review results and budget available, team members are assigned compensation dependent on their grade level.”

“The organization's governing documents and policies are available for public inspection at the organization's office during regular business hours or upon request.”

“Utilities $ 1,319,188 real estate taxes 1,194,291 repairs & maintenance 1,226,176 supplies 262,557 mortgage interest 6,577,592 total occupancy expense $10,579,804”

“BAD DEBT RECOVERY 2,543.”