Harbor Side Apartments Housing Development Fund Corporation

“The organization does not have any committees in place that it keeps minutes to their meetings.”

“Harbor side apartments housing development fund corporation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is submitted to search for change's audit & finance committee for review and comment. When the form 990 has been approved by search for change's audit and finance committee, copies of the form 990 are distributed electronically to members of the organization's full governing body for any comments prior to the submission. The governing body is provided with reasonable time to review the prepared form 990 and provide their comments. Any comments are then grouped, summarized and provided to the compliance officer or committee in charge of filing the return for their review, each issue is documented and addressed until the review is finalized and the form 990 is approved for filing.”

“The conflict of interest policy applies to all of the corporation's directors, officers, and key persons. After there has been disclosure of a potential conflict, and after gathering any relevant information from the potentially conflicted person, the executive committee must determine whether there is an actual conflict of interest. The potentially conflicted person must not be present for deliberation or vote on the matter and must not attempt to influence improperly the determination of whether a conflict of interest exists. In determining whether a conflict of interest exists, the executive committee must consider whether the potential conflict of interest would cause a transaction entered into by the corporation to raise questions of bias, inappropriate use of the corporation's assets, or any other impropriety. When a matter involving a conflict of interest comes before the executive committee, the committee may seek information from the conflicted person prior to beginning deliberation and reaching a decision on the matter. However, a conflicted person must not be present during the discussion or vote on the matter and must not attempt to influence improperly the deliberation or vote. If the conflict is a related party transaction, the corporation may not enter into the transaction unless, after good faith disclosure of the material facts by the conflicted person, the executive committee determines that the transaction is fair, reasonable, and in the coporation's best interest at the time of such determination. If the related party has a substantial financial interest, the executive committee must: (1)consider alternative transactions to the extent available; or, (2)approve the transactions by a vote of a majority of the directors present at the meeting; and, (3)contemporaneously document in writing the basis for its approval, including its consideration of any alternative transactions. All potential or actual conflicts of interest discussed or voted upon must be documented in the organization's board minutes. All applicable individuals are required to fill out annual conflict of interest statements.”

“The organization makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on new york state attorney general website, guidestar.org and other similar types of websites. In addition, forms 990 and 1023 as well as the financial statements, conflict of interest policy and governing documents are available upon written request or by calling the organization directly.”

“Other fees: program service expenses 145,633. Management and general expenses 0. Fundraising expenses 0. Total expenses 145,633.”

“The organization's board of directors assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”