| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE CORPORATION HAS ENTERED INTO A MANAGEMENT AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY OF STAMFORD D/B/A CHARTER OAK COMMUNITIES TO PAY A MANAGEMENT FEE 6% BASED ON TOTAL INCOME COLLECTED, AS APPROVED BY HUD. FOR THE YEAR ENDED DECEMBER 31, 2023, THE CORPORATION INCURRED MANAGEMENT FEES OF $61,616 |
| FORM 990, PART VI, SECTION B, LINE 11B | A HIGH LEVEL REVIEW IS PERFORMED AND THE RETURN IS COMPARED AGAINST LAST YEAR'S FILINGS BY THE RETURN SIGNER. THE REVIEWER WILL ASK QUESTIONS OF THE AUDIT TEAM, AS APPROPRIATE. |
| FORM 990, PART VI, SECTION B, LINE 12C | IF THERE IS A POTENTIAL/ALLEGED CONFLICT OF INTEREST THE DEPARTMENT OF HUMAN RESOURCES AND EXTERNAL EMPLOYEE LABOR AND EMPLOYEE RELATIONS ATTORNEY INVESTIGATE. THE CEO IS NOTIFIED IMMEDIATELY. THE ATTORNEY IS ONLY CONSULTED WHEN NECESSARY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAINTAINS RECORDS, FILES AUDITED FINANCIAL STATEMENTS WITH HUD AND TAX RETURNS WITH THE IRS. DOCUMENTS ARE MADE AVAILABLE BY REQUEST. |
| FORM 990, PART IX, LINE 11G | REIMBURSED OFFICE SALARIES: PROGRAM SERVICE EXPENSES 39,465. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,465. REIMBURSED O&M SALARIES: PROGRAM SERVICE EXPENSES 30,883. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 30,883. REIMBURSED HEALTH INSURANCE AND BENEFITS: PROGRAM SERVICE EXPENSES 35,726. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 35,726. REIMBURSED WORKERS COMP: PROGRAM SERVICE EXPENSES 1,466. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,466. TEMPORARY LABOR: PROGRAM SERVICE EXPENSES 3,547. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,547. |
| FORM 990, PART XI, LINE 9: | CASH TRANSFERS TO RELATED PARTY -3,344,142. |
| FORM 990, PART XII, LINE 2C | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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