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FORM 990, PART VI, SECTION A, LINE 3: | EXPLANATION: THE CORPORATION CONTRACTS WITH THE COMMUNITY BUILDERS, INC. (TCB) TO MANAGE THE PROPERTY. THE MANAGEMENT FEE IS 6.55% OF THE GROSS COLLECTIONS COMPUTED MONTHLY. THE MANAGEMENT AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION, OR THE MANAGEMENT AGENT. |
FORM 990, PART VI, SECTION B, LINE 11: | EXPLANATION: THE ASSET MANAGEMENT DEPARTMENT REVIEWS THE 990 BEFORE APPROVING THE RETURN. |
FORM 990, PART VI, SECTION B, LINE 11: | EXPLANATION: THE CORPORATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
FORM 990, PART XII, LINE 2C: | EXPLANATION: THERE HAS BEEN NO CHANGE FROM THE PRIOR YEAR. |
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