Comite De Bien Estar Inc

“The finance director and executive director review thereturn first. Then it is reviewed by the board ofdirectors and submitted for approval at the next meeting.”

“When a conflict of interest arises a memo of disclosure and rationale must be provided by the employee or board member. The memo is addressed to the Executive Committee, who will review it and make a recommendation to the Board of Directors. The memo must contain a description of the circumstances, the kind of assistance, source of the assistance, and availability of the product or service elsewhere, and the rationale for providing the assistance, product or service, or hiring the relative. If the potential conflict involves federal funds then the funding agency is contacted to request permission and a conflict of interest form is disclosed.”

“The Executive Directors contract is reviewed and approved by the Board of Directors using the "Rebuttable Compensation Checklist" which is submitted to the Human Resources department.”

“Other Officers and Key Employees salary is determined by the Human Resource Departments survey of comparable data, the employees length of service, employee evaluation, and education. They are approved by the Executive Director.”

“A written request for copies must be made to the administration office of the Comite de Bien Estar.The IRS Form 990 is also available to public on Guidestar.”

“Loss on relinqishment of project”

“Anyone can become a member by paying an initial $1,080 deposit, a $20 membership fee, and $5 per month thereafter. Members continue to make payments as they can afford to, $150 a month is expected until development of the land is complete. When the member has accumulated approximately $2,500 they are eligible to choose a lot. Then financing is arranged. Comite acts as a fiduciary agent and facilitates transfer of the deed of trust. The member makes monthly payments to the title company. There is a reserve account that covers any delinquent members so they maintain excellent credit. Over a period of 18 months a member develops equity which provides them with a vehicle for leverage on a mortgage. They can take 5 - 10 years to pay off their lot or decide to build a house. This is when Comite provides the majority of the housing and services to alleviate financial duress and other impediments to affordable housing. Members can also obtain a rewards card from Comite S-Mart which provides them with discount prices.”

“Bad debt expense 291443. 291443. 0. 0.”

“Dues and subscriptions 7506. 5581. 1925. 0.”

“Repairs & maintenance 115532. 96553. 18979. 0.”

“Grant to related entity 123939. 123939. 0. 0.”

“Forgivable loan expense 14631. 14631. 0. 0.”

“Miscellaneous 23808. 23788. 20. 0.”