Century Affordable Development Inc.

“On april 28, 2023, the organization became a victim of wire fraud in the amount of $293,047.20 and successfully recovered $289,083.02. The organization filed an ic3 complaint referral form with the fbi online on the date of loss. The organization has implemented new policies and procedures to safeguard its assets.”

“Form 990 review process. An external tax preparer and century affordable development, 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 affordable development, 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 and vice president & cfo 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.”

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