Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Any person can purchase a share in the corporation for the amount of $10.00 per person. Each shareholder is allowed one vote at the annual shareholders meeting. Directors are nominated and voted on by the shareholders. The nine nominees receiving the most votes are then elected to the board of directors. The board of directors then vote amongst themselves for the positions of officers. |
| Form 990, Part VI, Section B, Line 11b | Each member of the board of directors are given a copy of the complete 990 and all schedules, etc. They havd 10 (ten) days before the return is filed. Any questions, objections are address prior to filing the return. |
| Form 990, Part VI, Section B, Line 12c | We live in a town of 699, so everyone knows if there is a conflict of interest and the board members are more than willing to let anyone, especially other board members know of such conflicts. The same applies to the shareholders. |
| Form 990, Part VI, Section B, Line 15 | The only person receiving any compensation is the treasurer, who is also the site manager. The treasurer is not compensated. The Site Manager is compensated to manage 20 apartments, the grounds, schedule work, complete all necessary paper work. Complete leases. Compensation was arrived by contacting all near by towns with similar facilities and asking their salaries. All within 30 miles receive $600 per month to manage 16 apartments, plus allowances for annual leases, new leases, phone usage, etc. We pay our Site Manager $500.00 per month for 20 apartments with no compensation for leases. |
| Form 990, Part VI, Section C, Line 19 | All papers, income tax returns, etc are available upon request. Social Security numbers will be blacked out. |
| Software ID: | 20012124 |
| Software Version: | v1.00 |