Ethics Project - Internal Memo

1. Name

· Turner and Hill Real Estate LLC

2. Industry

· Our Company is in the real estate industry. We focus on purchasing properties renovating them and then selling them for profit. We also buy property and rent them out while we wait for the value to increase on those particular properties before selling for profit.

3. Domestic or International

· We are a domestic company operating only in the United States of America. We may look to expand internationally at some point but right now are only in the planning phase.

4. Type of Partnership/Corporation

· We chose an LLC for our company with two Joint Owners Turner and Hill. The reason we choose LLC is to limit our personal liability if something goes wrong.

5. Number of employees

· We have two owners and ten additional employees. Of the ten employees we have two licensed real estate agents, four assistants, two accountants, 1 marketer, and one Manager who oversees the other nine employees and works directly with the owners.

6. Years in business

· We have been in business for 10 years. The first five years were very rough, and revenues were terrible, but things turned around and the last five years have been very profitable, and our name is well known now which brings in consistent repeat business and word of mouth business as well.

7. Yearly revenue

· Are yearly revenues the last five years are as followed $2,000,000 a year for Real Estate Sales and $500,000 from rental income.

8. Any complaints that have been lodged against the company

· We have ten complaints that are all the same are reference the amount of time it takes home buyers to get into their no property. All ten of the complaints were out of our control and were related to difficulties with the mortgage company the Home Buyer was working with.

9. Any other pertinent information you deem necessary

· Owners are involved with all operations daily and meet with every employee no less than once a week to ensure everyone stays on the same page. The owners also outsource an HR department to handle all HR tasks. All our employees have been with us at least four years and it is rare we must hire anyone new but occasionally we use temp agencies to assist during busy seasons. We also have lawyers on retainer but are not employees of our LLC like our accountant.

Citations