FORM 990, PART VI, SECTION A, LINE 6 |
CARITAS, INC. DOES NOT SPECIFICALLY HAVE MEMBERS. WE EFFECTIVELY HAVE A SELF PERPETUATING BOARD OF DIRECTORS. THE BISHOP OF THE ROMAN CATHOLIC DIOCESE OF SAVANNAH MUST APPROVE ALL MEMBERS NOMINATED BY THE BOARD TO REPLACE BOARD MEMBERS WHO LEAVE THE ORGANIZATION. THE ROMAN CATHOLIC DIOCESE OF SAVANNAH HAS NO LEGAL AUTHORITY OVER THE BOARD AND HAS NO INTEREST IN THE CORPORATION. |
FORM 990, PART VI, SECTION A, LINE 7A |
THE BISHOP OF THE ROMAN CATHOLIC DIOCESE OF SAVANNAH MUST APPROVE ALL MEMBERS NOMINATED BY THE BOARD TO REPLACE BOARD MEMBERS WHO LEAVE THE ORGANIZATION. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE BY-LAWS OF THE ORGANIZATION SPECIFY SITUATIONS REQUIRING APPROVAL OF THE BOARD OF DIRECTORS. |
FORM 990, PART VI, SECTION B, LINE 11 |
A PRINTED COPY OF THE FORM 990 WILL BE PROVIDED TO THE BOARD MEMBERS PRIOR TO THE FILING WITH THE IRS. |
FORM 990, PART VI, SECTION B, LINE 15 |
THE COMPENSATION FOR KIMBERLY LIND IS BASED ON AN EVALUATION OF MRS. LIND'S PERFORMANCE AS MANAGER OF VILLA MARIE APARTMENTS AND WHICH INCLUDES EVALUATING COMPARABLE SALARIES FOR MANAGERS FOR OTHER PROFIT AND NON-PROFIT CORPORATIONS. HOWEVER, MRS. LIND'S COMPENSATION IN PART REFLECTS THAT VILLA MARIE APARTMENTS/CARITAS, INC. IS A STAND ALONE PROJECT WITH NO BACK UP OFFICE SUPPORT. |
FORM 990, PART VI, SECTION C, LINE 19 |
DOCUMENTS OF THE COPORATION ARE AVAILABLE UPON REQUEST IN ACCORDANCE WITH APPLICABLE HUD DISCLOSURE RULES. |
FORM 990 |
CARITAS, INC. UNDERGOES AN ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS. THE AUDIT FIRM IS SELECTED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ALSO PROVIDE OVERSIGHT FOR THE AUDIT PROCESS. |
PAGE 1, ITEM B: AMENDED RETURN |
FORM 990 WAS AMENDED TO CORRECT BOARD OF DIRECTORS LISTING FOR THE YEAR AND RELATED COMPENSATION DATA. THE FORM WAS ALSO AMENDED DUE TO A RESTATEMENT OF THE FINANCIAL STATEMENTS. AN ERROR IN RECORDING INTEREST EXPENSE AND ACCRUED INTEREST PAYABLE FOR THE FLEXIBLE SUBSIDY RESIDUAL RECEIPTS NOTE WAS DISCOVERED DURING THE AUDIT FOR THE FISCAL YEAR ENDING MARCH 31, 2017, RESULTING IN AN UNDERSTATEMENT OF PREVIOUSLY REPORTED INTEREST EXPENSE AND ACCRUED INTEREST PAYABLE. THE ERROR WAS CORRECTED AND RESULTED IN AN INCREASE IN INTEREST EXPENSE OF $9,978 AND AN INCREASE IN ACCRUED INTEREST PAYABLE OF $219,718. |