Covia Affordable Communities

“Front porch communities and services is the sole member of the organization.”

“Front porch communities and services has the right to vote with respect to electing and removing the directors of covia affordable communities' (cac) board, provided that four directors shall be selected and appointed by front porch communities and services and three directors shall be selected by covia communities and appointed by front porch communities and services.”

“Front porch communities and services shall have voting rights with respect to (i) the election and removal of directors, (ii) the dissolution, liquidation, merger or sale of the substantial assets of the corporation, (iii) adopting, amending or repealing the articles of incorporation of the corporation or bylaws, and (iv) such other matters as may be provided in the bylaws or the nonprofit corporation law of california.”

“The cfo and management personnel review the 990 information before filing with the internal revenue service.”

“Officers and board members are asked on an annual basis if there are any activities and/or affiliations that would pose a conflict with their ability to serve on the board or items that they will need to recuse themselves from voting.”

“Senior management employees listed in part vii are employees of front porch communities and services, a related organization. They are paid and issued w-2s by front porch communities and services. The salaries reported on part vii of the 990 and schedule j are in part supported through management fees paid from the subsidiary communities and collected by covia affordable communities and directed to front porch communities and services. Front porch communities and services uses an independent consultant who analyzes and reports on reasonability of compensation every two years. The consultant is independent of management and reports directly to the chairman of the board. The consultant reviews and provides a report on any issues with the compensation the ceo and/or the cfo receive including any issues around excess compensation. Additionally, all key executives compensation are reviewed by the consultant. This review includes total cash compensation and benefits including retirement plans. Every year, the chief hr officer reviews the compensation for all management against market analysis guidelines and recommends changes. This review also includes a test of benefits against similar companies.”

“Policies and statements are available upon request.”