Pilgrim Tower North

“Pilgrim tower north is managed by foundation property management, inc., a professional property management company. Foundation property management, inc. Has a project owner's and management agent's certification for multifamily housing projects with the u.s. Department of housing and urban development for the operating project in which pilgrim tower north is the general partner. Under this certification, hud has approved foundation property management, inc. To manage the operating project in which pilgrim tower north is the general partner. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a sanitary and affordable environment. Stuart j. Hartman and david w. Napierskie are compensated by foundation property management, inc. As follows: base compensation of $599,635 and $238,012, other compensation of $8,400 and $4,800, deferred compensation of $38,460 and $0, and nontaxable benefits of $35,570 and $11,672, respectively.”

“The organization has one member and the member is retirement housing foundation, a california nonprofit, public benefit corporation.”

“The directors of the organization will be elected at the annual meeting of the member.”

“The bylaws may be amended or repealed by the vote of the member.”

“The company thoroughly reviews the form 990 before providing a copy to the governing body and filing.”

“Upon joining the company and annually thereafter, all employees and board members are required to complete and sign a certification acknowledging their understanding and agreement to comply with the company's conflict of interest policy, including disclosing any activities that may appear or may be deemed violations of the policy. Board members and company officers have an additional and more comprehensive conflict of interest policy and certification requirement. Designated management personnel are responsible for tracking the distribution and return of all certifications and for accounting and reporting any disclosures to the company's compliance officer. If further review of any disclosure is merited, the compliance officer forwards the certification to the company's general counsel, ceo and/or board for final disposition. Individuals who have made disclosures are advised of final dispositions. An employee's failure to submit timely certifications, disclosures and/or to take the necessary required actions to avoid conflicts may be disciplined, up to and including termination. If the individual is a board member, he or she may be subject to removal from his or her position.”

“The process for determining compensation for the ceo, executive director, top management officials and other officers or key employees included an extensive review and approval by independent persons.”

“The organization makes its governing documents and conflict of interest policy available to the public upon request.”

“The compensation listed on schedule j and elsewhere in this return is for services provided to and paid by retirement housing foundation, which is a related organization that sponsors and manages through subsidiaries approximately 190 tax exempt organizations and partnerships that provide affordable and market-rate housing, skilled nursing and assisted living services for senior adults, low income families and persons with disabilities throughout the united states including the district of columbia, puerto rico and the virgin islands.”

“For the purposes of schedule r, part v, the following applies: retirement housing foundation and foundation property management, inc. Are california not-for-profit corporations that sponsor or manage approximately 175 tax exempt organizations and partnerships that provide affordable and market-rate housing, skilled nursing and assisted living services for senior adults, low income families and persons with disabilities throughout the united states including the district of columbia, puerto rico and the virgin islands.”