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FORM 990, PART III, LINE 3 | PRIOR TO 5/31/2019, THE ORGANIZATION OPERATED 58 LOW-INCOME PUBLIC HOUSING UNITS IN NONIMPACTED CENSUS TRACTS IN BALTIMORE CITY AND ITS SURROUNDING COUNTIES OR OTHER BALTIMORE CITY NEIGHBORHOODS AS MUTUALLY AGREED UPON IN ACCORDANCE WITH APPLICABLE PUBLIC HOUSING REQUIREMENTS. CASE MANAGEMENT SERVICES WERE PROVIDED TO EVERY HOUSEHOLD TO HELP WITH SUPPORTIVE SERVICES. ON 5/31/2019, THE ORGANIZATION SOLD ALL THE 58 LOW-INCOME PUBLIC HOUSING UNITS TO HOMES FOR GREATER BALTIMORE LIMITED PARTNERSHIP IN THE AMOUNT OF $1,942,000. THE SALE WAS CARRIED IN THE FORMAT OF A SELLER CARRYBACK NOTE WHERE THE NOTE IS SECURED BY THE PROPERTY AND BEARS INTEREST AT 4% COMPOUNDED ANNUALLY WITH A MATURITY DATE OF 12/1/2060. PAYMENTS OF PRINCIPAL AND INTEREST WILL BE MADE TO THE ORGANIZATION FROM SURPLUS CASH AVAILABLE FROM THE BUYER. THE ORGANIZATION CEASED OPERATING THE LOW-INCOME HOUSING UNITS AND PROVIDING CASE MANAGEMENT SERVICES TO THE HOUSEHOLDS. |
FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION HAS NO COMMITTEES. |
FORM 990, PART VI, SECTION B, LINE 11B | A DRAFT OF FORM 990 IS REVIEWED & AUTHORIZED BY A MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. |
FORM 990, PART VI, SECTION B, LINE 12C | THE WRITTEN CONFLICT OF INTEREST POLICY IS DISCUSSED AT THE ANNUAL MEETING AND ALL OFFICERS AND DIRECTORS SIGN A STATEMENT ACKNOWLEDGING THE POLICY. |
FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST. |
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