Century Villages at Cabrillo Inc

“Form 990 review process. An external tax preparer and century villages at cabrillo, inc. Staff work together to gather the information necessary to complete the tax return. Staff reviews an initial draft tax return from the tax preparer and discusses any issues or changes. Once staff is satisfied with the draft tax return a copy is emailed to each member of the century villages at cabrillo, inc. Board of directors for their review. Any questions or requests for comment or clarification from the members of the board are handled by staff or the external tax preparer, and if needed a further draft is prepared for review by staff. The president, senior vice president, cfo and the board make a final review of the tax return prior to execution and filing.”

“Discussion and disclosure as a part of regular board meetings.”

“The process of determining compensation includes the following elements: 1. Review and approval - the compensation of the person is reviewed and approved by the board of directors provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. 2. Use of data as to comparable compensation - the compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 3. Contemporaneous documentation and recordkeeping - there is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“The organization's governing documents, conflicts of interest policy, and financial statements are available upon request.”

“Century villages at cabrillo (cvc) is a 501(c)3 nonprofit affiliate of century housing corporation, a 501(c)3 nonprofit community development financial institution. Founded in 1997, cvc's original sole purpose was to take title to the 27-acre former naval housing site known as the villages at cabrillo. Cvc's mission and programs have expanded significantly over the years. Cvc's board of directors is comprised of the same members that serve on the century housing corporation's board in order to provide prudent oversight of loans, investments, and guarantees on the property underwritten by century housing corporation. Cvc board members receive no compensation from cvc.”

“Yes, the organization has an audit committee with these responsibilities. Process is unchanged from prior year.”