Tlcs Inc.

“The board's executive committee, consisting of the officers (president, vice president, secretary, and treasurer) is authorized to act in all matters of the board.”

“The 990 will be reviewed in detail by the treasurer of the board of directors prior to filing as well as the cfo and ceo.”

“In the case of directors and officers, the board's executive committee reviews annual conflict statements and monitors actions during regular board meetings to be sure that directors act appropriately. In the case of employees, senior managers regularly monitor staff actions in relation to the agency's ethics and conflict of interest policies, and act accordingly when discrepancies are noted.”

“Comparable compensation for the ceo is reviewed by the compensation committee which is made up of members of the board. The compensation committee makes a compensation recommendation to the board at large. The recommendation is reviewed and discussed by the entire board and a final vote taken. Contemporaneous documentation and recordkeeping of the deliberations and decisions regarding the compensation arrangement are kept with the board minutes. The organization participates in the casra and impact foundry compensation review every year. The administrative director conducts a salary survey of compensation paid to similar positions in similar organizations. This material is reviewed by senior management. Any changes in the salary scale are presented to the board of directors for their review and approval.”

“Financial statements are available upon request. Governing documents and policies are provided to funders and regulatory authorities but are not generally available to the public.”

“In january 2023, tlcs entered into a partnership agreement with john stewart company in the 1413 howe avenue lp for the acquisition and rehabilitation of arden star motel, a 129-unit supportive housing project. Tlcs owns 35% in the limited partnership and is the managing general partner. The property was acquired on march 29, 2024 with a homekey grant from california department of housing and community development and loans from sacramento housing and redevelopment agency. In march 2023, tlcs formed 25 howe ave llc for the acquisition and rehabilitation of rodeway inn, a 70-unit supportive housing project. Tlcs is the sole member of the llc. The acquisition is financed by homekey grants from the state of california. Rodeway inn operates under a voluntary agreement with the sacramento housing and redevelopment agency requiring the property to operate as low-income for 55 years. Tlcs is a 49% owner of jhl sunrise pointe, llc, which has a 0.01% ownership interest in sunrise pointe housing partners lp that owns a 47-unit apartment complex. Tlcs provides on-site supervision for a fee and also receives development fees from the partnership. Tlcs is the managing partner and 35% owner in northview pointe gp, llc, which has a 0.01% ownership interest in northview pointe lp that owns a 60-unit permanent supportive housing complex. Tlcs receives development fees and fees for services.”

“Gaap adjustments 12,706,462.”