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        <PersonNm>NATASHA HEIMRATH</PersonNm>
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        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
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        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>MA DEVELOPMENT FINANCE AGENCY USING BOND PROCEEDS, THE ORGANIZATION WILL UPGRADE CONCORD PARKS EXISTING HOUSING UNITS AND COMMON AREA; CONVERT SIX HOUSING UNITS INTO A NEW COMMON AREA FEATURING A THEATER, FITNESS ROOM, AND COMPUTER/GAME ROOM; AND BUILD A THREE-STORY, 11,800SF ADDITION, WHICH WILL CREATE 16 NEW HOUSING UNITS. ONCE CONSTRUCTION IS COMPLETE, THE COMMUNITY WILL OFFER 91 HOUSING UNITS 54 STUDIOS, 28 ONE-BEDROOM UNITS, AND NINE TWO-BEDROOM UNITS 20% OF WHICH WILL BE RENTED TO HOUSEHOLDS EARNING BETWEEN 60-100% OF AREA MEDIAN INCOME.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>SENIOR LIVING RESIDENCES LLC., A PROFESSIONAL ASSISTED LIVING MANAGEMENT COMPANY, HAS BEEN CONTRACTED TO PERFORM THE DAY TO DAY MANAGEMENT OF THE ASSISTED LIVING OPERATIONS. EMPLOYEES ARE LEASED FROM THE MANAGEMENT COMPANY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE CORPORATION HAS TWO MEMBERS, VOLUNTEERS OF AMERICA NATIONAL SERVICES, INC., (VOANS) A MINNESOTA NONPROFIT CORPORATION, AND VOLUNTEERS OF AMERICA OF MASSACHUSETTS, INC. (VOAM), A MASSACHUSETTS NONPROFIT CORPORATION.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE DRAFT 990 IS REVIEWED AND APPROVED BY THE TREASURER AND BOARD CHAIRMAN. IT IS THEN DISTRIBUTED TO THE BOARD MEMBERS FOR REVIEW UPON REQUEST.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SMALL NUMBER OF BOARD MEMBERS ALLOWS US TO MONITOR THEIR ACTIVITIES AS IT RELATES TO CONCORD PARK. BOARD MEMBERS ARE ALSO NOT INVOLVED IN ACTIVITIES, SUCH AS VENDOR SELECTION, OR THE VENDORS FROM WHOM WE PURCHASE CAPITAL ITEMS, THEREFORE, THEY ARE NOT IN A POSITION TO INFLUENCE THOSE ACTIVITIES. WE ALSO HAVE EACH BOARD MEMBER SIGN A CONFLICT OF INTEREST WHICH REQUIRES THEM TO DISCLOSE A POTENTIAL CONFLICT OF INTERST SO THE MATTER CAN BE REVIEWED BY THE ORGANIZATION.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE DIRECTOR (AND KEY EMPLOYEES) SALARY IS DETERMINED BY MUTUAL REVIEW AND APPROVAL BY THE MANAGEMENT COMPANY AND THE CORPORATION. IT IS BASED ON READILY ACCEPTED CATEGORIES SUCH AS EXPERIENCE, EDUCATION, LICENSURE, MARKET VALUE AND THE DEGREE OF RESPONSIBILITY OF THE POSITION. THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF THE MANAGEMENT COMPANY AND THERE IS NO CFO.</ExplanationTxt>
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        <ExplanationTxt>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. NO REQUESTS FOR INFORMATION WAS MADE DURING THE YEAR. FINANCIAL STATEMENTS ARE FILED ANNULLY WITH THE MASSACHUSETTS ATTORNEY GENERAL'S (AG) PUBLIC CHARITY DIVISON AND AVAIALABLE FOR VIEWING ON THE AG'S WEBSITE.</ExplanationTxt>
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