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, 2020, 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, 2020, property management fees of $12,330 were incurred and paid. Ahdc pc dr, llc is 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, 2020, property management fees of $269,129 were incurred and $66,158 remains payable.”

“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 specialists 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 constant with the market for like job descriptions.”

“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 has acquired parkstone alexandria apartments. The organization owns and operates this 326-unit apartment complex located in alexandria, virginia. Ahdc is the sole member and developer for ahdc pc dr, llc.”

“Utilities $561,440 real estate taxes 961,801 repairs & maintenance 776,229 property insurance 71,280 mortgage interest 4,622,443 total occupancy expense $6,993,193”

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