| FORM 990, PART VI, SECTION A, LINE 3 |
COMMONWEALTH LAND TRUST, INC. (CLT), A NONPROFIT ORGANIZATION THAT HAS COMMON BOARD MEMBERS WITH THE CORPORATION, MANAGES THE OPERATIONS OF THE BUILDING, AND PROVIDES SERVICES IN CONNECTION WITH LEASING AND MANAGING THE PROJECT. IN ACCORDANCE WITH THE MANAGEMENT AGREEMENT, THE CORPORATION IS TO PAY ITS MANAGEMENT AGENT A MONTHLY MANAGEMENT FEE EQUAL TO 7% OF GROSS RENTS RECEIVED, AS DEFINED IN THE AGREEMENT. FOR THE YEAR ENDED DECEMBER 31, 2022 THE MANAGEMENT FEE AMOUNTED TO $20,848. |
| FORM 990, PART VI, SECTION A, LINE 8B |
THERE ARE NO OTHER COMMITTEES OTHER THAN THE BOARD OF DIRECTORS |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE TAX RETURN IS REVIEWED BY THE CFO AND THE PRESIDENT/CEO OF COMMONWEALTH LAND TRUST. A COPY IS PROVIDED TO THE BOARD PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE ORGANIZATION MONITORS THE POLICY ON A CASE BY CASE BASIS. |
| FORM 990, PART VI, SECTION C, LINE 19 |
THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G |
MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 123,089. MANAGEMENT AND GENERAL EXPENSES 31,874. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 154,963. |
| FORM 990, PART XII, LINE 2C: |
NO CHANGE FROM PRIOR YEAR. |