The Home Fund Inc

“A copy of form 990 is provided to the board for review and approval prior to filing.the organization's process for determining compensation for its president, karen bobb (who participated in the property return transactions), involves independent compensation committee review, review of comparable salaries, review of duties and responsibilities, approval by board of directors. This process ensures compensation is reasonable and not excessive. The return of donated property to substantial contributors was executed as a duty of the president, and this transaction itself did not involve additional compensation to the president.”

“A board member who has a conflict of interest does not take part in any decision related to that conflict. The organization has a robust conflict of interest policy in place, which requires all officers, directors, and key employees to disclose potential conflicts annually or as they arise. When the transactions involving the return of real property to substantial contributors (disqualified persons) were identified, the board of directors and legal counsel reviewed the proposed actions to ensure compliance with the policy and applicable tax law. President karen bobb, despite signing the deeds, did not have a personal conflict of interest beyond her role as an officer executing board-approved actions. The board concluded these transactions were necessary and appropriate to address the organization's retention of donated assets.”

“The board reviewed data in determining compensation.all transactions with interested persons, such as the return of donated real property to substantial contributors gary allen chestnut and cornell randall irons, are reviewed and approved by the board of directors or an authorized committee thereof, independent of the interested party. For the property returns in 2024, the board, in consultation with legal counsel, reviewed the details of the original donations and the reasons for the return. The board formally approved the disposition of these assets and authorized president karen bobb to execute the necessary documentation. This process ensures the transactions are fair, reasonable, and in the organization's best interest, not providing an excess benefit.”

“Conflict of interest policy is filed annually with the florida department of agriculture and consumer services. The organization makes its governing documents, conflict of interest policy, and form 990 available for public inspection upon request, as required by law. Copies can be requested in writing or by visiting the organization's offices during normal business hours. An electronic copy of form 990 is also available on guidestar.org. This ensures transparency and public accountability.”

“To advance solutions that use housing development as a platform for services to improve the lives of the most vulnerable people and build healthy communities; to manage as an entity or direct entities organized for the purpose of creating stable, vibrant and healthy communities by developing, financing, and operating affordable, program-enriched housing for families, seniors, and people with special needs who lack the economic resources to access quality, safe housing opportunities; the home fund inc., either directly or indirectly, will support or foster the development, acquisition, financing, operation and management of quality, affordable program-enriched housing for low and moderate income persons.”

“Return of donated real property to original donors. Properties located at leonard st, merritt st, and station st, altamonte springs, fl, were returned to substantial contributors gary allen chestnut and cornell randall irons in 2024. The total fair market value of the assets disposed of was $870,000.”