2024-10-25T10:43:32-05:00 2023-12-31 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2023-01-01 061064281 Westhab Inc % PATRICIA VITELLI WEST 9143452800 8 Bashford Street Yonkers NY 10701 Richard Nightingale President 9143452800 2024-11-15 true true Michael Pintabone P01275156 7328281614 2023 2024-10-15 13:58:12Z Richard Nightingale 8 Bashford Street Yonkers NY 10701 151921220 false X WWW.WESTHAB.ORG X 1981 NY TO PROVIDE SAFE, AFFORDABLE HOUSING TO HOMELESS AND LOW-INCOME FAMILIES AND TO FURTHER THE PHYSICAL, SOCIAL, AND ECONOMIC STABILITY OF DISTRESSED NEIGHBORHOODS. 18 18 2079 300 0 0 107551765 143300879 3401999 5721144 136996 2268175 229026 7887 111319786 151298085 0 0 0 0 47565803 66913303 0 0 473801 62196937 83457119 109762740 150370422 1557046 927663 322845331 377666758 243322717 310748819 79522614 66917939 X "WESTHAB'S MISSION IS: BUILDING COMMUNITIES, CHANGING LIVES." WE PROVIDE SAFE, AFFORDABLE HOUSING TO ENABLE HOMELESS AND LOW-INCOME INDIVIDUALS AND FAMILIES TO BECOME SELF-SUFFICIENT, AND TO FURTHER THE PHYSICAL, SOCIAL AND ECONOMIC STABILITY OF DISTRESSED NEIGHBORHOODS BY DEVELOPING AFFORDABLE HOUSING, REVITALIZING COMMUNITIES, AND PROVIDING CRITICALLY NEEDED ADULT AND YOUTH SERVICES. false false 25744951 3457750 HOUSING SERVICES AND OPERATIONS (See attached Schedule O) 111529133 SHELTER OPERATIONS (See attached Schedule O) 1508096 EMPLOYMENT SERVICES (See attached Schedule O) 1051939 2263394 Affordable Low Income Housing Development 1051939 2263394 139834119 true true false false false false false false false false true false false true true true false true false false false false false false true false false false false true false false false false false false false false false false false false true true true true true false true 14 0 true 2079 true false false false false false true true false false false false false false X 18 18 false false false false false false false true true false false true true true true true true true true false NY X X PATRICIA VITELLI 9143452800 8 BASHFORD STREET YONKERS NY 10701 RICHARD NIGHTINGALE PRESIDENT & CEO 35.0 0.0 X 459836 0 47618 JAMES COUGHLIN CHIEF OPERATING OFFICER 35.0 0.0 X 340599 0 50110 ANDREW GREMANSKY SR. VICE PRESIDENT REAL ESTATE 35.0 0.0 X 312391 0 48135 PATRICIA VITELLI SR. VP, FINANCE AND ADMIN 35.0 0.0 X 292376 0 46734 STEVE MYRTHIL VICE PRESIDENT OF MIS 35.0 0.0 X 201557 0 40377 JINJA CUEVAS VP OF HUMAN RESOURCES 35.0 0.0 X 201792 0 39154 STEPHANIE VIOLA AVP OF ACCOUNTING 35.0 0.0 X 192736 0 39760 VALERIE C SMITH Vice President of NYC Shelters 35.0 0.0 X 205030 0 24738 EMILY BEHAN VICE PRESIDENT OF DEVELOPMENT 35.0 0.0 X 204560 0 10386 SAMANTHA VALENCIA AVP OF PROPERTY AND ASSET MGMT 35.0 0.0 X 167928 0 37140 JESSE JOHNSON AVP OF DATA & QUALITY ASSURANC 35.0 0.0 X 153663 0 36453 JACQUELINE MAURNO DIR OF RISK MANAGEMENT 35.0 0.0 X 147213 0 31420 TRACY RHETT AVP - Youth & EMP. SERVICES 35.0 0.0 X 154340 0 11458 NICOLE MYLAN AVP OF FAMILY SHELTERS 35.0 0.0 X 136431 0 19936 ELISSA RAMOS AVP OF SUPPORT SERVICES 35.0 0.0 X 139723 0 10435 DEJVI NDRECA DIRECTOR OF CONSTRUCTION MNGT 35.0 0.0 X 141782 0 1011 DWAN STARK SENIOR PROJECT MANAGER 35.0 0.0 X 136771 0 5441 JESSE KRASNOW CHAIR 2.0 0.0 X X 0 0 0 ROBERT H PETROCELLI JR FIRST VICE CHAIR 2.0 0.0 X X 0 0 0 CESAR F PEREIRA SECOND VICE CHAIR 2.0 0.0 X X 0 0 0 JEFFERSON C BOYCE SECRETARY 2.0 0.0 X X 0 0 0 PAUL TUROVSKY TREASURER 2.0 0.0 X X 0 0 0 BETSY HILLS BUSH DIRECTOR 2.0 0.0 X 0 0 0 JAMES FOY DIRECTOR 2.0 0.0 X 0 0 0 AL GUTIERREZ DIRECTOR 2.0 0.0 X 0 0 0 KEN HANAU DIRECTOR 2.0 0.0 X 0 0 0 DANIELLA JACKSON DIRECTOR 2.0 0.0 X 0 0 0 JONALIE KORENGOLD DIRECTOR 2.0 0.0 X 0 0 0 DANIEL MAGIDSON DIRECTOR 2.0 0.0 X 0 0 0 FREDERICK K MEHLMAN DIRECTOR 2.0 0.0 X 0 0 0 SETH L ROSEN DIRECTOR 2.0 0.0 X 0 0 0 DANIEL SARMIENTO DIRECTOR 2.0 0.0 X 0 0 0 DONNA JAKUBOVITZ SPECTOR DIRECTOR 2.0 0.0 X 0 0 0 RICHARD ST PAUL ESQ DIRECTOR 2.0 0.0 X 0 0 0 NICOLA STANDARD DIRECTOR 2.0 0.0 X 0 0 0 3588728 0 500306 24 false true false LIBERTY ONE QUEENS LLC 88 PINE STREET NEW YORK NY 10005 MAINTENANCE 3105292 LIBERTY ONE BRONX LLC 88 PINE STREET NEW YORK NY 10005 MAINTENANCE 1342378 LIBERTY ONE BROOKLYN LLC 88 PINE STREET NEW YORK NY 10005 MAINTENANCE 931065 FRONT DOOR MANAGEMENT 31 SPENCER ST BROOKLYN NY 11205 RENTAL SERVICES 334391 ELEZI RENOVATIONS INC 85 Dartmouth Ave YONKERS NY 10701 CONSTRUCTION 229094 99 797222 141238371 1265286 143300879 TENANTS RENT PARTICIPATION 531110 2828688 2828688 AFFORDABLE HOUSING MANAGEMENT FEE 531110 629062 629062 DEVELOPER FEES 531110 2263394 2263394 5721144 555585 0 555585 0 0 0 0 0 2118740 406150 1712590 1712590 0 1712590 216985 797222 216985 0 0 0 0 0 0 0 0 MISCELLANEOUS 900099 7887 7887 7887 151298085 5729031 0 2268175 0 0 0 0 3318879 1176116 2142763 0 51062924 46897254 3823082 342588 1315109 1019502 290282 5325 7021494 6401427 579171 40896 4194897 3782758 388469 23670 0 149835 76322 73513 245278 77246 168032 0 0 0 635341 214409 417647 3285 0 2774223 2441802 319806 12615 428906 231358 197301 247 0 65952878 65159315 793398 165 303170 259085 43238 847 0 16742 2400 14342 390956 254835 136121 0 1313151 1211750 101401 2448918 2363832 85086 TENANT SERVICES 8787988 8028304 759485 199 OTHER EXPENSES 246919 66744 136211 43964 BAD DEBT EXPENSE(RECOVERY) -237186 169660 -406846 150370422 139834119 10062502 473801 X 17376007 10988754 5479968 493745 8185407 18755900 979802 1066527 0 0 0 0 33961501 34416549 0 0 1151156 1119106 32689079 7726442 24125769 24962637 0 5654569 0 0 6210201 6896263 0 0 225375520 273312708 322845331 377666758 26196775 31459870 0 0 0 0 0 0 0 0 0 0 6792454 20582701 1565000 1565000 208768488 257141248 243322717 310748819 X 37036241 34446813 42486373 32471126 79522614 66917939 322845331 377666758 X 927663 94263 -13831649 205048 X false true X true true true X 52099724 79872238 103884468 107525065 143300879 486682374 0 0 52099724 79872238 103884468 107525065 143300879 486682374 0 486682374 368601 165296 155586 199677 555585 1444745 0 70621 158496 3015 101094 7887 341113 488468232 19047911 0.99634 0.99629 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 567249 567249 15851578 4399875 11451703 6134154 282860 5851294 6043811 2032697 4011114 4092287 1011010 3081277 24962637 DUE FROM AFFILIATED COMPANIES 17219748 OTHER CURRENT ASSETS 1270995 OTHER ASSETS 1046118 RIGHT OF USE ASSETS 253775847 273312708 0 DUE TO WDSS 856210 SECURITY DEPOSITS 296090 LEASE LIABILITIES 255988948 257141248 X FORM 990, SCHEDULE D, PART X, LINE 2 Westhab and certain affiliates are exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been reflected in the accompanying consolidated financial statements associated with these entities. Certain other affiliates such as the tax credit entities are partnerships treated as pass-through entities for federal and state reporting purposes. No provision or liability for federal or state income taxes has been recorded in the consolidated financial statements because all income or loss is passed through to the partners. The Company has no unrecognized income tax liabilities and had no income tax related penalties or interest for the years ended December 31, 2023 and 2022. Furthermore, there are no tax related interest or penalties included in the consolidated financial statements. GOLF OUTING 361805 283355 78450 78229 221 Annual Gala 652402 513867 138535 131730 6805 0 1014207 797222 216985 209959 7026 216985 X X X X false true false false false false false false false RICHARD NIGHTINGALE PRESIDENT & CEO 459836 0 0 0 0 0 21350 0 26268 0 507454 0 0 0 JAMES COUGHLIN CHIEF OPERATING OFFICER 340599 0 0 0 0 0 23842 0 26268 0 390709 0 0 0 ANDREW GREMANSKY SR. VICE PRESIDENT REAL ESTATE 312391 0 0 0 0 0 21867 0 26268 0 360526 0 0 0 PATRICIA VITELLI SR. VP, FINANCE AND ADMIN 292376 0 0 0 0 0 20466 0 26268 0 339110 0 0 0 VALERIE C SMITH Vice President of NYC Shelters 205030 0 0 0 0 0 14352 0 10386 0 229768 0 0 0 EMILY BEHAN VICE PRESIDENT OF DEVELOPMENT 204560 0 0 0 0 0 0 0 10386 0 214946 0 0 0 JINJA CUEVAS VP OF HUMAN RESOURCES 201792 0 0 0 0 0 14125 0 25029 0 240946 0 0 0 STEVE MYRTHIL VICE PRESIDENT OF MIS 201557 0 0 0 0 0 14109 0 26268 0 241934 0 0 0 STEPHANIE VIOLA AVP OF ACCOUNTING 192736 0 0 0 0 0 13492 0 26268 0 232496 0 0 0 SAMANTHA VALENCIA AVP OF PROPERTY AND ASSET MGMT 167928 0 0 0 0 0 11755 0 25385 0 205068 0 0 0 TRACY RHETT AVP - Youth & EMP. SERVICES 154340 0 0 0 0 0 10804 0 654 0 165798 0 0 0 JESSE JOHNSON AVP OF DATA & QUALITY ASSURANC 153663 0 0 0 0 0 10756 0 25697 0 190116 0 0 0 JACQUELINE MAURNO DIR OF RISK MANAGEMENT 147213 0 0 0 0 0 5152 0 26268 0 178633 0 0 0 ELISSA RAMOS AVP OF SUPPORT SERVICES 139723 0 0 0 0 0 9781 0 654 0 150158 0 0 0 NICOLE MYLAN AVP OF FAMILY SHELTERS 136431 0 0 0 0 0 9550 0 10386 0 156367 0 0 0 FORM 990, SCHEDULE J, PART 1, LINE 4B THE ORGANIZATION SPONSORS A 457(F) RETIREMENT PLAN. FORM 990, PART III, LINE 4A HOUSING SERVICES AND OPERATIONS: WESTHAB'S MISSION IS: BUILDING COMMUNITIES. CHANGING LIVES. WESTHAB BUILDS COMMUNITIES BY CREATING HIGH-QUALITY AFFORDABLE AND SUPPORTIVE HOUSING. WESTHAB CHANGES LIVES BY DELIVERING THE SERVICES AND SUPPORT THAT PEOPLE AND COMMUNITIES NEED TO THRIVE. THE SUM OF THESE EFFORTS IS COMPREHENSIVE COMMUNITY DEVELOPMENT IMPACT. WESTHAB WAS FOUNDED IN 1981 TO ADDRESS THE AFFORDABLE HOUSING CRISIS IN WESTCHESTER COUNTY. SINCE THEN, IT HAS BECOME WESTCHESTER'S LARGEST PROVIDER OF HOUSING AND SERVICES FOR THE HOMELESS AND ITS LARGEST NONPROFIT DEVELOPER OF AFFORDABLE AND SUPPORTIVE HOUSING. WESTHAB HAS ALSO GROWN A SUBSTANTIAL PORTFOLIO IN NEW YORK CITY WHERE WE DELIVER ALL ASPECTS OF OUR MISSION - PERMANENT AFFORDABLE AND SUPPORTIVE HOUSING, TRANSITIONAL HOUSING, EMPLOYMENT SERVICES, AND YOUTH SERVICES. SINCE WESTHAB'S FOUNDING, IT HAS BUILT 1,094 AFFORDABLE HOUSING UNITS, MOVED 10,749 HOUSEHOLDS FROM HOMELESSNESS INTO AFFORDABLE HOUSING, PLACED 11,837 PEOPLE INTO EMPLOYMENT, AND DELIVERED SERVICES TO OVER 10,000 HOMELESS AND AT-RISK YOUTH. WESTHAB CURRENTLY OPERATES 4,043 TRANSITIONAL, AFFORDABLE, AND SUPPORTIVE HOMES ACROSS WESTCHESTER AND NEW YORK CITY. IN 2023, WESTHAB PLACED 898 HOMELESS HOUSEHOLDS INTO PERMANENT HOUSING AND PLACED 2,209 JOB SEEKERS INTO EMPLOYMENT. WESTHAB CONTINUOUSLY EVOLVES OUR SERVICE MODELS TO DEVELOP NEW SOLUTIONS AND MEET PRESENTING COMMUNITY NEEDS. WE ADVOCATE FOR OUR TENANTS AND CLIENTS AND WORK TO EVOLVE SYSTEMS TO DELIVER THE BEST OUTCOMES FOR THE PEOPLE AND COMMUNITIES THAT WE PROUDLY SERVE. FORM 990, PART III, LINE 4B SHELTER OPERATIONS: WESTHAB HAS DEVELOPED A UNIQUE CAPACITY TO DELIVER EFFECTIVE PROGRAMS DESIGNED TO HELP FAMILIES AND SINGLES EXPERIENCING HOMELESSNESS SECURE PERMANENT HOUSING AND GET BACK ON THEIR FEET. WESTHAB HAS ADAPTED THE HOUSING FIRST CONCEPT TO MEET LOCAL NEEDS, WORKING TO ENSURE THAT HOMELESSNESS IS A BRIEF AND ONE-TIME EXPERIENCE. WESTHAB HELPED TO CREATE THE HOMELESS SYSTEM IN WESTCHESTER COUNTY, INNOVATING NEW SOLUTIONS LIKE THE EMERGENCY HOUSING APARTMENT PROGRAM AND CREATING FULL-SERVICE SHELTERS THAT PROVIDE INDIVIDUALIZED SERVICES TO MEET EACH CLIENT'S NEEDS. WESTHAB'S FAMILY SHELTERS MINIMIZE SCHOOL INTERRUPTIONS FOR STUDENTS AND PROVIDE COMPREHENSIVE OUT-OF-SCHOOL TIME PROGRAMS AND ON- SITE CHILDCARE SUPPORT. OVER THE YEARS, WESTHAB, THROUGH ITS PARTNERSHIP WITH THE WESTCHESTER COUNTY DEPARTMENT OF SOCIAL SERVICES, HAS SUCCESSFULLY REDUCED THE NEED FOR HOMELESS FACILITIES IN WESTCHESTER, CLOSING TWO SHELTERS AND SHIFTING OUR FOCUS TO DEVELOPING PERMANENT AFFORDABLE AND SUPPORTIVE HOUSING. WESTHAB PARTICIPATES ACTIVELY IN THE WESTCHESTER CONTINUUM OF CARE FOR THE HOMELESS PARTNERSHIP, WHICH HAS DEVELOPED HUNDREDS OF UNITS OF PERMANENT SUPPORTIVE HOUSING FOR SPECIAL NEEDS POPULATIONS. WESTHAB'S PORTFOLIO IN NEW YORK CITY HAS GROWN SUBSTANTIALLY IN RECENT YEARS. AT YEAR END 2023, WESTHAB OPERATED 19 TRANSITIONAL HOUSING PROGRAMS IN THE CITY SERVING ABOUT 2,500 HOUSEHOLDS. EACH PROGRAM IS CUSTOMIZED TO BEST MEET THE NEEDS OF ITS TENANTS, WHICH INCLUDE SINGLES, FAMILIES WITH CHILDREN, AND ADULT FAMILIES. IN ADDITION TO DEVELOPING COMPREHENSIVE YOUTH SERVICES PROGRAMS IN ITS FAMILY SHELTERS TO MEET THE MYRIAD ACADEMIC, ENRICHMENT AND SOCIAL NEEDS OF YOUNG PEOPLE, WESTHAB NOW ALSO OPERATES 7 COMMUNITY-BASED YOUTH CENTERS IN YONKERS (1), THE BRONX (3) AND MANHATTAN (3) TO MEET THE NEEDS OF AT-RISK YOUNG PEOPLE IN DISTRESSED NEIGHBORHOODS. FORM 990, PART III, LINE 4C EMPLOYMENT SERVICES: WESTHAB'S EMPLOYMENT SERVICES PROGRAMS FOCUS ON JOB READINESS TRAINING, JOB PLACEMENT AND JOB RETENTION. WE STARTED THIS SERVICE WITH HOMELESS RESIDENTS IN OUR SHELTERS, THEN EXPANDED TO SERVING THE LARGER COMMUNITY IN MOUNT VERNON AND YONKERS BY OPENING COMMUNITY RESOURCE CENTERS IN BOTH COMMUNITIES. IN 2016 WE EXPANDED OUR MODEL TO WORK WITH RESIDENTS OF OUR NEW YORK CITY HOMELESS PROGRAMS. IN 2016 THROUGH A PARTNERSHIP WITH THE CITY OF NEW ROCHELLE WESTHAB OPENED THE FIRST JOB SOURCE REFERRAL CENTER IN DOWNTOWN NEW ROCHELLE, A ONE STOP SHOP FOR COMMUNITY MEMBERS TO RECEIVE JOB READINESS TRAINING, HARD SKILL TRAINING, EDUCATIONAL ASSISTANCE, JOB PLACEMENT ASSISTANCE AND JOB RETENTION SERVICES. WESTHAB'S COMMUNITY RESOURCE CENTERS ENABLE SEVERAL THOUSAND RESIDENTS EACH YEAR TO ACCESS JOB-FINDING OPPORTUNITIES ON THE INTERNET, UPGRADE RESUMES, OBTAIN INTERVIEW CLOTHING, AND PRACTICE INTERVIEW TECHNIQUES. FORM 990, PART III, LINE 4D Affordable Low Income Housing Development: WESTHAB ACQUIRES PROPERTY AND DEVELOPS HOUSING, USING DIFFERENT FINANCING SOURCES AVAILABLE INCLUDING STATE AND FEDERAL FUNDS, LOW INCOME HOUSING TAX CREDIT FINANCING, AND PRIVATE DEBT FINANCING. WESTHAB PURCHASES VACANT LAND OR UNOCCUPIED BUILDINGS IN WESTCHESTER AND NEW YORK CITY AND FORMULATES A RESIDENTIAL DEVELOPMENT THAT MEETS AN EXISTING NEED IN THE COMMUNITY. WESTHAB ESTABLISHES A DEVELOPMENT TEAM THAT INCLUDES ARCHITECTS, ENGINEERS, ATTORNEYS, CONSULTANTS, AND A GENERAL CONTRACTOR THAT SERVE TO DESIGN AND BUILD THE QUALITY, AFFORDABLE HOUSING DEVELOPMENT. WESTHAB IS NEARING CONSTRUCTION COMPLETION ON SUMMIT ON HUDSON (FORMERLY KNOWN AS HUDSON HILL), A NEW 113-UNIT AFFORDABLE AND SUPPORTIVE RESIDENCE IN YONKERS. SUMMIT ON HUDSON INCORPORATES STATE-OF-ART GREEN TECHNOLOGIES AND WON A NEW YORK STATE / NYSERDA BUILDINGS OF EXCELLENCE AWARD FOR SUSTAINABLE DESIGN. THE BUILDING BUILDS UPON WESTHAB'S REAL ESTATE DEVELOPMENT EXPERIENCE AND WILL PROVIDE EXTENSIVE TENANT AMENITIES AS WELL AS RESOURCES TO THE LARGER COMMUNITY, INCLUDING A COMMUNITY BROADBAND NETWORK AND A PUBLIC SUSTAINABILITY EXHIBIT. SUMMIT IS EXPECTED TO OPEN IN EARLY 2024. IN TOTAL, INCLUDING PROJECTS CURRENTLY IN CONSTRUCTION, WESTHAB HAS DEVELOPED ABOUT 1,500 HOUSING UNITS AT AN INVESTMENT IN EXCESS OF $450,000,000. FORM 990, PART VI, SECTION A, LINES 8A & 8B MINUTES OF THE BOARD MEETINGS ARE WRITTEN AND ADOPTED BY THE BOARD AT SUBSEQUENT MEETINGS. ACTIONS OF THE EXECUTIVE COMMITTEE ARE WRITTEN AND RATIFIED BY THE FULL BOARD AT SUBSEQUENT MEETINGS. THE EXECUTIVE COMMITTEE, WHICH CONSISTS OF THE OFFICERS OF THE CORPORATION WHO ALSO SERVE ON THE BOARD OF DIRECTORS, HAS AUTHORITY TO ACT FOR THE BOARD BETWEEN BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE ORGANIZATION'S SENIOR VICE PRESIDENT-FINANCE AND ADMINISTRATION, CHIEF OPERATING OFFICER AND CHIEF EXECUTIVE OFFICER AND IS THEN DISTRIBUTED TO BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE OF CONFLICTS BY BOARD MEMBERS AND KEY EMPLOYEES. IN ADDITION, IF AND WHEN BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS COME BEFORE THE BOARD, THE APPROPRIATE DIRECTORS RECUSE THEMSELVES AND LEAVE THE MEETING DURING ANY DISCUSSION OF THE BUSINESS IN QUESTION. ROBERT PETROCELLI, 1ST VICE CHAIR, ACTS AS BROKER FOR SEVERAL OF WESTHAB'S EMPLOYEE BENEFIT PROGRAMS AND EARNS A STANDARD INDUSTRY COMMISSION DIRECTLY FROM THE PROVIDER. THIS ENGAGEMENT PRECEDES MR. PETROCELLI'S TENURE ON THE BOARD AND IS DULY DISCLOSED AND HANDLED IN ACCORDANCE WITH WESTHAB'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINES 15A & 15B WESTHAB ENGAGED AN OUTSIDE COMPENSATION CONSULTANT IN 2022 TO CONDUCT A COMPENSATION ANALYSIS FOR THE CEO AND EACH MEMBER OF THE LEADERSHIP TEAM. AN OUTSIDE CONSULTANT WILL BE ENGAGED AT LEAST EVERY THREE YEARS. ANNUALLY, THE CEO IS REQUESTED BY THE CHAIR OF THE BOARD TO PROVIDE THE COMPENSATION COMMITTEE WITH A RECOMMENDATION AND JUSTIFICATION FOR A COMPENSATION INCREASE, DECREASE OR A RECOMMENDATION TO REMAIN THE SAME. THE COMPENSATION COMMITTEE REVIEWS THE CEO'S RECOMMENDATION AND THE ANALYSIS FROM THE COMPENSATION CONSULTANT. THE CEO DETERMINES THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES BASED ON COMPARABILITY INFORMATION AND PERFORMANCE REVIEWS IN CONJUNCTION WITH THE ORGANIZATION'S HUMAN RESOURCE VICE PRESIDENT AND INPUT FROM THE COMPENSATION COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ANNUAL REPORT IS DISTRIBUTED TO ALL FUNDERS AND DONORS AND IS AVAILABLE THROUGH OUR WEBSITE AND UPON REQUEST. OUR GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE DISTRIBUTED UPON REQUEST TO ALL FUNDERS AND DONORS AND ARE AVAILABLE UPON REQUEST TO MEMBERS OF THE PUBLIC. FORM 990, PART XI, LINE 8 PRIOR PERIOD ADJUSTMENT AND RESTATEMENT: Subsequent to the issuance of the Company's 2022 consolidated financial statements an error was identified resulting in a prior period adjustment as of January 1, 2022 and a restatement of the 2022 consolidated financial statements. The prior period adjustment and restatement was the result of clarity provided in ASU 2018-08 Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. Based on this guidance the Company determined that amounts previously recorded as net assets with donor restriction should no longer be released from restriction over the related compliance period. Additionally, the Company determined that the barriers to revenue recognition associated with certain capital grants have not been overcome and the amounts received should have been recorded as forgivable mortgage notes payable amounting to approximately $13,832,000. As a result, the Company has recorded a prior period adjustment and restated its 2022 consolidated financial statements as -13,831,649. Form 990, Part XI, Line 9 Other Changes in net assets due to the change in discount rate on financial instruments of $205,048. Form 990, Schedule R, Part I 76 Locust Hill GP, LLC (EIN: 85-2906405) is 100% owned by the tax-exempt entity, Westhab, Inc. As such, 76 Locust Hill GP, LLC is considered a tax-exempt controlled entity as defined in IRC Section 168(h)(6)(F)(ii)(II). 76 Locust Hill GP, LLC hereby elects, pursuant to IRC Section 168(h)(6)(F)(ii)(II), to have its tax-exempt shareholder treat as unrelated business income (under IRC 511) any dividends, interest or gain from sale of stock with respect to this controlled entity. This entitles this tax-exempt controlled entity to not be treated as a tax-exempt entity. 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