Catholic Charities Housing Inc

“The Organization's by-laws states the Board of Trustees shall submit a list of nominees to the Archbishop of Baltimore to fill the positions of those trustees whose terms are expiring. The Archbishop of Baltimore has the power to appoint trustees.”

“The 990 for the organization was reviewed by the Treasurer before it was filed. The 990 for the organizations parent company was reviewed by the Executive Committee of its Board of Directors before it was filed and a provided to all board members before it was filed.”

“Upon election, each director signs a conflict of interest statement requiring disclosure of conflicts of interest and signs a conflict of interest statement annually thereafter during their term. The Organization's management continuously reviews and monitors to identify any area of conflict. Article X of the Organization's by-laws provides the process should a conflict of interest arise. The Organization's conflict of interest policy is also included in the employee handbook.”

“A compensation committee annually reviews the compensation of ACC's executive staff. Additionally, an independent firm is retained to evaluate the appropriateness of the compensation. Minutes of the compensation committee are recorded.”

“Documents available upon request.”

“On September 1, 2015, in a transaction approved by HUD, the Project sold all of its land, buildings, equipment and other fixed assets to Basilica Place Limited Partnership ("BPP") for a selling price of $12.3 million, its appraised value. The Project also transferred to BPP its reserve for replacement deposits and assigned to BPP its Section 8 Housing Assistance Payment agreement with HUD. Under BPP's ownership, the Project will continue to be operated for the benefit of the low income elderly and disabled in accordance with HUD requirements. As a result of the transaction, the Project ceased operations effective September 1, 2015. In connection with the transaction, the Project received a $7.4 million note receivable from BPP and $1.7 million in cash. In addition, the $3.2 million HUD mortgage balance was paid off at settlement. The note receivable bears interest at a rate of 3.46% (simple interest) and principal and interest are payable by BPP from available cash flow as defined in its partnership agreement. All unpaid principal and interest is due October 1, 2050.”

“Payment of seller note interest.”