2022-09-15T12:52:39-05:00 2021-10-31 221478099 COHNREZNICK LLP 10 FORBES ROAD SUITE 200 BRAINTREE MA 02184 990 2020-11-01 222827292 WEBSTER HOUSING FOR THE ELDERLY INC C/O RCAP SOLUTIONS INC WEBS 9786306600 191 MAY STREET WORCESTER MA 01602 BRIAN SCALES PRESIDENT/CEO 9786306711 2022-09-14 1 BRIAN SCALES 999009999 JOLANTA TUCK CPA P01340068 7813803520 2022-09-13 3 AAL1 IAL1 2020 2023-04-26 12:10:37Z BRIAN SCALES 191 MAY STREET WORCESTER MA 01602 887260 0 X N/A X 1987 MA TO ACQUIRE, CONSTRUCT, REHABILITATE AND OPERATE 70 UNITS OF AFFORDABLE RESIDENTIAL HOUSING FOR ELDERLY PERSONS LOCATED IN WEBSTER, MASSACHUSETTS. 3 3 0 0 0 0 621753 606319 237146 275188 -71 -4955 5318 5655 864146 882207 0 0 0 0 0 0 0 0 0 850870 827833 850870 827833 13276 54374 2012162 1968060 3475177 3376701 -1463015 -1408641 TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING FOR THE ELDERLY IN WEBSTER, MA 0 0 751495 280843 TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING FOR THE ELDERLY IN WEBSTER, MA 751495 1 1 0 0 0 0 0 0 1 0 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 12 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 MA X BRIAN SCALES 9786306600 191 MAY STREET WORCESTER MA 01602 KAREN KOLLER PRESIDENT/TREASURER 0.10 48.40 X 0 276572 14563 DEBORAH FOLEY CLERK/RESIDENT AGENT 0.10 42.40 X 0 72043 4285 PAULA MAYVILLE DIRECTOR 0.10 0.00 X 0 0 0 DEBORAH FLANIGAN DIRECTOR 0.10 0.00 X 0 0 0 REBECCA CARRINGTON DIRECTOR 0.10 0.00 X 0 0 0 0 348615 18848 0 0 1 0 RCAP SOLUTIONS INC 191 MAY STREET WORCESTER MA 01620 MANAGEMENT SERVICES 267919 1 606319 606319 RENTAL INCOME 531110 275188 275188 275188 98 98 5053 -5053 -5053 -5053 LAUNDRY INCOME 531110 5655 5655 5655 882207 280843 0 -4955 X 64445 64445 1283 1283 10610 10610 140836 140836 572 572 19050 19050 371051 371051 1233 1233 137701 137701 2255 2255 SUPPORTIVE SERVICES 46305 46305 RESIDUAL RECEIPTS EXPEN 27395 27395 INSURANCE LOSS 5097 5097 827833 751495 76338 0 80331 86444 4795 625 36870 36770 4912558 3395626 1507855 1516932 382311 327289 2012162 1968060 80037 85214 4084 1906 21893 22960 3369163 3266621 3475177 3376701 X -1463015 -1408641 -1463015 -1408641 2012162 1968060 54374 0 X 0 1 X 1 1 1 X 569902 583621 607725 621753 606319 2989320 247475 251055 237086 237146 275188 1247950 817377 834676 844811 858899 881507 4237270 0 0 0 4237270 82 124 181 159 98 644 82 124 181 159 98 644 4419 5103 6174 5318 5655 26669 821878 839903 851166 864376 887260 4264583 0.99360 0.99380 0.00020 0.00010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY INCOME - 2016 AMOUNT: $ 4,334. 2017 AMOUNT: $ 5,103. 2018 AMOUNT: $ 5,085. 2019 AMOUNT: $ 5,291. 2020 AMOUNT: $ 5,655. MISCELLANEOUS - 2016 AMOUNT: $ 85. 2018 AMOUNT: $ 1,089. 2019 AMOUNT: $ 27. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 167488 167488 4452371 3218848 1233523 266792 151245 115547 25907 25533 374 1516932 TENANT ESCROW 23052 MORTGAGE ESCROW 19988 REPLACEMENT RESERVE 243989 RESIDUAL RECEIPTS 40260 327289 882207 0 882207 0 882207 827833 0 827833 0 827833 PART IV, LINE 2B: THE TENANT SECURITY DEPOSITS ARE HELD IN A SEPARATE BANK ACCOUNT. POLICY IS TO COLLECT A SECURITY DEPOSIT OF UP TO ONE MONTH'S RENT FROM THE TENANT. UPON TERMINATION OF THE LEASE, THE SECURITY DEPOSITS CAN BE USED TO PAY FOR DAMAGES CAUSED BY THE TENANT OR USED AGAINST UNPAID RECEIVABLES WITH THE REMAINING BALANCE BEING REFUNDED TO THE TENANT. 0 0 0 0 0 0 0 0 0 KAREN KOLLER PRESIDENT/TREASURER 0 265186 0 0 0 11386 0 13525 0 1038 0 291135 0 0 PART I, LINE 3 ANY INDIVIDUALS THAT RECEIVED COMPENSATION ON SCHEDULE J, PART II WERE COMPENSATED BY A RELATED ORGANIZATION DURING CALENDAR YEAR 2020. THE RELATED ORGANIZATION USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -FORM 990 OF OTHER ORGANIZATIONS -WRITTEN EMPLOYMENT CONTRACT -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION INCURRED AND PAID A MANAGEMENT FEE OF $62,938 FOR THE YEAR ENDED OCTOBER 31, 2021 TO RCAP. THE MANAGEMENT FEE IS EQUAL TO 7.07% OF TOTAL RENT COLLECTIONS PLUS AUTHORIZED RESIDUAL RECEIPTS ACCOUNT RELEASES USED TO OFFSET THE HAP SUBSIDY. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR RCAP. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGEMENT COMPANY CEO WORKS CLOSELY WITH THE CPA FIRM AND PROVIDE INFORMATION NECESSARY TO COMPLETE THE 990. THE 990 IS DISCUSSED WITH THE WEBSTER BOARD, HIGHLIGHTING THE IMPORTANCE OF COMPLIANCE WITH IRS REGULATIONS AS IT IS PRESENTED ON THE 990. THE FORM IS ELECTRONICALLY SENT TO THE BOARD OF DIRECTORS ONCE COMPLETED BY THE CPA FIRM. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC WHEN REQUESTED IN WRITING. REQUESTS SHOULD BE DIRECTED TO THE PRESIDENT OF THE BOARD OF DIRECTORS. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 140,836. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 140,836. RCAP SOLUTIONS INC 191 MAY STREET WORCESTER MA 01602 042454675 RENTAL ASSISTANCE MA 501(C)(3) LINE 7 N/A 0 RCAP SOLUTIONS FINANCIAL SERVICES INC 191 MAY STREET WORCESTER MA 01602 205660521 HOME MODIFICATION LOANS MA 501(C)(3) LINE12A, I RCAP SOLUTIONS INC 0 HOUSING FOR ROCKDALE ELDERS INC 191 MAY STREET WORCESTER MA 01602 042799671 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 RCAP SOLUTIONS INC 0 HUBBARDSTON ELDERLY HOUSING INC 191 MAY STREET WORCESTER MA 01602 042799669 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 RCAP SOLUTIONS INC 0 TOWNSEND ELDERLY RESIDENCES INC 191 MAY STREET WORCESTER MA 01602 222619885 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 RCAP SOLUTIONS INC 0 ATWOOD ELDER HOUSING INC 191 MAY STREET WORCESTER MA 01602 412277836 AFFORDABLE HOUSING MA 501(C)(3) LINE 7 RCAP SOLUTIONS INC 0 GROTON AFFORDABLE HOUSING INC 191 MAY STREET WORCESTER MA 01602 222831170 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 RCAP SOLUTIONS INC 0 WORCESTER NEW HORIZONS INC 191 MAY STREET WORCESTER MA 01602 043291646 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 RCAP SOLUTIONS INC 0 HAPCO LLC 191 MAY STREET WORCESTER MA 01602 010688838 LOW INCOME HOUSING RENTAL MA N/A 0 0 ATHOL HOUSING ASSOCIATES 191 MAY STREET WORCESTER MA 01602 010688835 GENERAL PARTNER OF HAPCO, LLC MA N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0