| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE SOLE MEMBER OF THE ORGANIZATION IS PHIPPS HOUSES, A RELATED 501(C)(4) ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | AS THE SOLE MEMBER OF THE ORGANIZATION, PHIPPS HOUSES HAS THE RIGHT TO ELECT THE MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | UNDER NEW YORK STATE LAW, CERTAIN GOVERNANCE DECISIONS REQUIRE MEMBERSHIP APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11B | MEMBERS OF THE ORGANIZATION'S GOVERNING BODY REVIEW THE FORM 990 FOR ACCURACY OF CONTENT AND DISCUSS AS NECESSARY. |
| FORM 990, PART VI, SECTION B, LINE 12C | OFFICERS AND DIRECTORS MUST COMPLETE AND CERTIFY ANNUALLY A LIST OF CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICER OR KEY EMPLOYEE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | OTHER COMPREHENSIVE INCOME 7,992. |
| FORM 990, PART VII, SECTION A: | THE COMPENSATION OF THE PRESIDENT, VICE PRESIDENTS, SECRETARY AND TREASURER REFLECTS THEIR CONTRIBUTIONS TO NOT ONLY KB25 HOUSING DEVELOPMENT FUND CORPORATION BUT TO ALL OF ITS AFFILIATED ENTITIES. ON A CONSOLIDATED BASIS, THE PHIPPS HOUSES GROUP HAS ANNUAL REVENUE OF OVER $100 MILLION AND ASSETS CURRENTLY OF ALMOST $2 BILLION. |
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