Foundation Property Management Inc

“Management duties are fulfilled by management company.”

“The organization has one class of member and the member is retirement housing foundation.”

“The member will annually elect the board of directors at the annual meeting of the members.”

“The bylaws may be amended or repealed by the vote of the members.”

“There are no committees with the authority to act on behalf of the governing body.”

“Senior management 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 the governing documents, conflict of interest policy, and financial statements available upon request.”

“This entity issues w-2's for approximately 832 employees whose compensation is charged to other related entities and is reported accordingly on those returns. The salaries reported on page 10 of this return represent compensation for 37 employees.”

“Impairment of intercompany loans -9,040,037.”

“The process is consistent with the prior years.”