2024-10-22T12:20:39-05:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 273308155 THE APARTMENTS AT ORCHARD VIEW INC APAR 3367650424 350 ORCHARD VIEW DRIVE FRANKLIN NC 28734 PATRICK BETANCOURT CHAIRPERSON 3367650424 2024-10-22 1 0 JACOB A SOWERS P01712829 3178485700 2023 2024-10-15 13:58:12Z PATRICK BETANCOURT 350 ORCHARD VIEW DRIVE FRANKLIN NC 28734 288222 0 X N/A X 2010 NC THE APARTMENTS AT ORCHARD VIEW INC, A NORTH CAROLINA NOT FOR PROFIT CORPORATION, WAS ORGANIZED TO OWN AND OPERATE A 48 UNIT APARTMENT PROJECT FOR LOW INCOME FAMILIES KNOWN AS ORCHARD VIEW APARTMENTS (THE COMMUNITY) LOCATED IN FRANKLIN NORTH CAROLINA. THE UNITS WERE ELIGIBLE AND QUALIFIED FOR LOW INCOME HOUSING TAX CREDITS IN ACCORDANCE WITH SECTION 42 OF THE INTERNAL REVENUE CODE AS ENACTED BY THE TAX REFORM ACT OF 1986. 7 7 0 0 0 0 74254 69329 189285 205963 237 -8396 5229 9256 269005 276152 0 0 0 0 0 0 0 0 0 314296 321201 314296 321201 -45291 -45049 1125399 1065208 1500603 1485461 -375204 -420253 X THE APARTMENTS AT ORCHARD VIEW INC, A NORTH CAROLINA NOT FOR PROFIT CORPORATION, WAS ORGANIZED TO OWN AND OPERATE A 48 UNIT APARTMENT PROJECT FOR LOW INCOME FAMILIES KNOWN AS ORCHARD VIEW APARTMENTS (THE COMMUNITY) LOCATED IN FRANKLIN NORTH CAROLINA. THE UNITS WERE ELIGIBLE AND QUALIFIED FOR LOW INCOME HOUSING TAX CREDITS IN ACCORDANCE WITH SECTION 42 OF THE INTERNAL REVENUE CODE AS ENACTED BY THE TAX REFORM ACT OF 1986. 0 0 274902 193893 THE APARTMENTS AT ORCHARD VIEW INC, A NORTH CAROLINA NOT FOR PROFIT CORPORATION, WAS ORGANIZED TO OWN AND OPERATE A 48 UNIT APARTMENT PROJECT FOR LOW INCOME FAMILIES KNOWN AS ORCHARD VIEW APARTMENTS (THE COMMUNITY) LOCATED IN FRANKLIN NORTH CAROLINA. THE UNITS WERE ELIGIBLE AND QUALIFIED FOR LOW INCOME HOUSING TAX CREDITS IN ACCORDANCE WITH SECTION 42 OF THE INTERNAL REVENUE CODE AS ENACTED BY THE TAX REFORM ACT OF 1986. 274902 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X LAURA GRIMES 3367650424 PO BOX 25168 WINSTONSALEM NC 271145168 X PATRICK BETANCOURT CHAIR PERSON 0.50 0.00 X X 0 0 0 MARK WEST VICE CHAIR 0.50 0.00 X X 0 0 0 D'ANNE MADDOX SECRETARY TREASURER 0.50 0.00 X X 0 0 0 BOBBY SANDERS DIRECTOR 0.50 0.00 X 0 0 0 BOB SCOTT DIRECTOR 0.50 0.00 X 0 0 0 DICK SCHMIDT DIRECTOR 0.50 0.00 X 0 0 0 TIM HOGSED DIRECTOR 0.50 0.00 X 0 0 0 0 0 0 0 0 0 0 0 69329 69329 RENTAL INCOME 531110 205963 205963 205963 3674 3674 12070 -12070 -12070 -12070 TENANT CHARGES 531110 8774 8774 OTHER REVENUE-MISC. 531110 482 482 9256 276152 193893 0 12930 31463 31463 33 33 5869 5869 125 125 3943 3943 2006 2006 187140 187140 555 555 1053 1053 30038 30038 1252 1252 MTG CO EMPLOYEE CHAREBA 46423 46423 BAD DEBTS 11301 11301 321201 274902 46299 0 16075 8381 7055 1325 10627 12465 1328867 357410 982659 971457 86692 48699 2482 1719 19809 21162 1125399 1065208 3417 2648 43 22 1473255 1457559 23888 25232 1500603 1485461 X -375204 -420253 -375204 -420253 1125399 1065208 -45049 0 X X 0 1 X 1 1 1 X 86043 94259 76377 74254 69329 400262 163078 167638 175109 189285 205963 901073 249121 261897 251486 263539 275292 1301335 0 0 0 1301335 474 173 82 237 3674 4640 474 173 82 237 3674 4640 3790 6686 3404 5229 9256 28365 253385 268756 254972 269005 288222 1334340 0.97530 0.98300 0.00350 0.00110 X SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. EXPLANATION: INCLUDED ON PAGE 9 IN CURRENT YEAR OTHER REVENUE LINE 7C IS A LOSS ON DISPOSAL OF DEPRECIABLE ASSETS $12,070. THE LOSS IS NOT BEING INCLUDED ON SCHEDULE A, PART III, LINE 12 BECAUSE IT DOES NOT MEET THE DEFINITION OF SUPPORT AS DEFINED IN SECTION 509(D) OF THE INTERNAL REVENUE CODE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 244049 244049 1046411 329661 716750 22438 11780 10658 15969 15969 0 971457 SECURITY DEPOSITS 21104 ACCRUED WAGES PAYABLE 2647 ACCRUED PAYROLL TAXES PAYABLE 203 ACCRUED INTEREST PAYABLE 1278 25232 X 288222 0 288222 -12070 -12070 276152 342590 21389 21389 321201 0 321201 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XI, LINE 4B - OTHER ADJUSTMENTS: G/L ON DISPOSAL OF FIXED ASSETS - TAX -12,070. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION EXPENSE DIFFERENCE 11,903. G/L ON DISPOSAL OF FIXED ASSETS - BOOK 9,486. FORM 990, PART VI, SECTION A, LINE 3 THE APARTMENTS AT ORCHARD VIEW, INC. IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANGEMENT CORPORATION HAS A PROJECT OWNER'S & MANAGEMENT CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION HUD HAS APROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE APARTMENTS AT ORCHARD VIEW PROPERTY. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE INDEPENDENT ACCOUNTANT FOWARDS A DRAFT OF FORM 990 TO THE MANAGEMENT COMPANY, WHICH IN TURN DISPERSES A COMPLETE COPY OF THE 990 TO THE BOARD OF DIRECTORS FOR THIER REVIEW. UPON BOARD APPROVAL, THE BOARD PRESIDENT NOTIFIES THE MANAGEMENT COMPANY TO COMMUNICATE APPROVAL TO THE OUTSIDE ACCOUNTANT, WHICH ISSUES A FINAL RETURN FOR THE BOARD PRESIDENT TO SIGN AND FILE. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS WHO, DIRECTLY OR INDIRECTLY, HAVE A MATERIAL FINANCIAL INTEREST IN A TRANSACTION WITH THE CORPORATION OR WHO ARE DIRECTORS, OFFICERS, OR TRUSTEES OF ANY ENTITY WHICH IS A PARTY TO A TRANSACTION WITH THE CORPORATION SHALL ABSTAIN FROM VOTING ON SUCH TRANSACTION AS EXPLICITY EXPRESSED IN ARTICLE 3.8 OF THE CORPORATION'S BY-LAWS FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR KEY EMPLOYEES (SEE PAGE 7, PART VII). FORM 990, PART VI, SECTION C, LINE 19 FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C OVERVIEW OF AUDIT FUNCTION: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM.