Castle Argyle a California Non Profit Benefit Corporation

“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.”

“Contracts: program service expenses 101,238. Management and general expenses 0. Fundraising expenses 0. Total expenses 101,238. Security: program service expenses 41,727. Management and general expenses 0. Fundraising expenses 0. Total expenses 41,727.”

“Release of net assets with donor restrictions -331,710.”

“The management agent's board of directors has delegated an audit committee to the oversight and review of the audited financial statements and makes recommendations to all the voting members of the board. During fiscal year 2018-2019, there were no changes by the audit committee in their process of reviewing the audited financial statements or their selection of the independent auditors.”