Sycamore Terrace

“The organization is managed by humangood affordable housing f/k/a beacon communities, inc, a professional property management company. Humangood affordable housing has a project owner's and management agent's certification for multifamily housing projects with the us department of housing and urban development. Under this certification, hud has approved humangood affordable housing to manage this organization. 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 safe, sanitary and affordable environment.”

“The organization amended its bylaws and its articles of organization during 2019, including naming a sole corporate member, humangood affordable housing ("hgah"), updating the corporate address, and changing the definition of the board of directors, e.g., the number of directors is now set at between 7 and 13 members, and hgah, as sole member, names the board members.”

“Humangood affordable housing, a california nonprofit public organization, is the sole member of this organization.”

“Humangood affordable housing, the organization's sole member, elects all board members.”

“Humangood affordable housing, the organization's sole member, must first approve in writing any decision involving: (a) merger, consolidation or dissolution of the corporation; (b) amendment, repeal or restatement of the articles of incorporation or the bylaws of the corporation; (c) aggregate lending or borrowing for any purpose in excess of $150,000. For the purpose of this sub-paragraph the term aggregate borrowing includes but is not limited to lease agreements and contracts for sale; (d) purchase, sale, lease, disposition, hypothecation, exchange, gift, pledge, encumbrance or mortgage of any real property, and of any personal property with a value in excess of $150,000; (e) transactions outside the ordinary course of business; (f) hiring or termination for the management agent for any property owned by the corporation.”

“Form 990 preparation and review process: this return is prepared by an outside accounting firm. The controller and cfo of the management company review and approve the return for filing. In addition, the form 990 is furnished to the board of directors prior to filing.”

“Board members are required to disclose all conflicts of interest immediately as they occur. The board then evaluates the conflict and determines appropriate action.”

“The board utilizes an independent contractor to review compensation. The results of the independent review are then provided to a compensation committee who recommends compensation amounts to the board.”

“The organization makes its financial statements available to the public in several ways. They are available in our annual filing of form 990 which the public can access through the internet at such sites as guidestar.org and foundation center (http://tfcny.fdncenter.org/990s/990search/esearch.php). These documents are also available upon request at the organization's place of business.”

“Certain board members received a stipend for 2018 for their board committee work related to humangood. No compensation is paid to any board members for their role on this organization's board. Board stipends: commencing two years after the may 1, 2016 affiliation of humangood norcal and humangood socal, the seven-member humangood board began receiving general and meeting specific stipends for their service to the top governing organization, humangood. An evaluation was performed of similarly complex non-profit organizations to determine the reasonableness of the stipend amount for the hours committed to governance. No remuneration is attributable to service by these seven board members on boards of other humangood affiliates. The remuneration is taxable to each of the members and reported annually on form 1099 in addition to disclosure in the form 990. Based on receiving this remuneration and the advice of tax consultants, these board members are not reflected as being independent directors.”

“Donated assets - hg affordable housing -13,772,386.”