Low Income Housing Institute

“The auditing firm sends a draft of the return to the cfo of the organization, and the organization's staff forward a copy of the return to each board member for their comments prior to filing.”

“Conflict of interest questionnaires are administered annually. Conflicts are discussed when applicable during board meetings and member abstains from voting on relevant issues.”

“Compensation for executive director is determined by reviewing salary surveys. It is then approved by the board of directors. Compensation for officers and key employees is determined by reviewing salary surveys. It is then approved by the board of directors.”

“The form 990 and all related financial and policy information are made available to the public upon written request.”

“Average number of hours worked: all of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed.”

“Volunteer fees: program service expenses 20,767. Management and general expenses 1,447. Fundraising expenses 0. Total expenses 22,214. Prop mgmt fee expense: program service expenses 28,982. Management and general expenses 2,019. Fundraising expenses 0. Total expenses 31,001. Legal expense: program service expenses 222,741. Management and general expenses 30,826. Fundraising expenses 219,738. Total expenses 473,305. Contract services: program service expenses 1,508,622. Management and general expenses 105,102. Fundraising expenses 0. Total expenses 1,613,724. Audit expense: program service expenses 102,675. Management and general expenses 7,153. Fundraising expenses 0. Total expenses 109,828. Accounting/it support fees: program service expenses 84,445. Management and general expenses 5,883. Fundraising expenses 0. Total expenses 90,328. Grant administration fee: program service expenses 240. Management and general expenses 17. Fundraising expenses 0. Total expenses 257. Appraisal expense: program service expenses 1,730. Management and general expenses 121. Fundraising expenses 0. Total expenses 1,851. Security: program service expenses 470,775. Management and general expenses 32,798. Fundraising expenses 0. Total expenses 503,573. Security payroll: program service expenses 6,455,352. Management and general expenses 449,728. Fundraising expenses 0. Total expenses 6,905,080. Fire protection contract: program service expenses 297,885. Management and general expenses 20,753. Fundraising expenses 0. Total expenses 318,638. Contract security officers: program service expenses 2,474,754. Management and general expenses 172,410. Fundraising expenses 0. Total expenses 2,647,164. Contract svc conslting: program service expenses 55,066. Management and general expenses 3,836. Fundraising expenses 0. Total expenses 58,902. Legal expense sh: program service expenses 123. Management and general expenses 9. Fundraising expenses 0. Total expenses 132. Investor service fee: program service expenses 13,192. Management and general expenses 919. Fundraising expenses 0. Total expenses 14,111.”

“Oversight of auditing function: the management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”