Alexandria Housing Development Corporation

“Ahdc rpo unit #1, llc is managed by equity management ii, llc, an unrelated party, pursuant to the terms of a management agreement dated january 1, 2012. The agreement is for one year and will remain in effect on a month-to-month basis unless terminated pursuant to the agreement. The fee is $85 per month and is payable quarterly. For the year ended december 31, 2019, property management fees of $1,020 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, as defined. For the year ended december 31, 2019, property management fees of $1,968 were incurred and paid.”

“The draft is reviewed by the executive director, treasurer and the accountants. The draft is compared to the prior years 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.”

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

“The organization acquired ellsworth apartments on september 5, 2019. The organization owns and operates this 20 unit apartment complex located in alexandria, virginia.”

“Utilities $5,385 mortgage interest 43,262 repairs & maintenance 3,759 property insurance 3,762 real estate taxes 10,460 rent expense 80,295 total occupancy expense $146,923”

“The process has not changed from the prior year.”