Form 990, Part VI, Section A, line 3 |
The Corporation is obligated under the terms of a Property Management Fee Agreement with AHC Management, LLC, an affiliate, for services in connection with the management of the rental operations of the Project. The terms of the agreement provide for a monthly fee equal to the lower of $1,600 plus the amount of 5.5% of the gross collections of the Project that exceed $1,600 or total monthly fees of $3,195. |
Form 990, Part VI, Section A, line 7a |
The Board of Directors are elected annually by the AHC, Inc. board of directors in accordance with the Articles of Incorporation Section 6. |
Form 990, Part VI, Section B, line 11b |
THE BOARD REVIEWS THE FORM 990 AND APPROVES THE FORM 990. |
Form 990, Part VI, Section B, line 12c |
THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE THROUGH CONTRACTS MANAGEMENT OR SELF DISCLOSURE, CONFLICTS ARE IDENTIFIED AND RELATED PARTIES ARE EXCLUDED FROM THE DECISION MAKING PROCESS. |
Form 990, Part VI, Section C, line 19 |
THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. |
FORM 990, PART IX, LINE 16 OCCUPANCY EXPENSE: |
UTILITIES $47,589 REPAIRS & MAINTENANCE 61,675 REAL ESTATE TAXES 30,573 PROPERTY INSURANCE 14,045 MISCELLANEOUS TAXES 441 TOTAL OCCUPANCY EXPENSE $154,323 |
Form 990, Part XI, line 9: |
Book to tax adjustments -4,933. |
Form 990, Part XII, Line 2c: |
THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |