Note 19 - Related Party Transactions

9 Months Ended

Sep. 30, 2017

19.	Related Party Transactions

We contributed

$1.5

million and

$1.0

million in cash to the MDC/Richmond American Homes Foundation (the “Foundation”) during the

nine

months ended

September 30, 2017

and

2016,

respectively. The Foundation is a Delaware non-profit corporation that was incorporated on

September

30,

1999.

The Foundation is a non-profit organization operated exclusively for charitable, educational and other purposes beneficial to social welfare within the meaning of Section

501

(c)(

) of the Internal Revenue Code. The following Directors and/or officers of the Company served as directors of the Foundation at

September 30, 2017,

all of whom serve without compensation:

Name		MDC Title
Larry A. Mizel		Chairman and CEO
David D. Mandarich		President and COO

Three other individuals, who are independent of the Company, also serve as directors of the Foundation. All directors of the Foundation serve without compensation.