2024-11-14T12:35:44-06:00 2023-12-31 860750225 Keegan Linscott & Associates PC 3443 N Campbell Avenue Suite 115 Tucson AZ 85719 990 2023-01-01 861008290 Fort Defiance Housing Corporation FORT 5058210193 8500 Menaul Blvd NE A220 Albuquerque NM 87112 Shelby Garcia CEO 5058210193 2024-11-11 1 1 Carla J Keegan P00596839 5208840176 2023 2024-10-15 13:58:12Z Sandstone Housing Shelby Garcia 8500 Menaul Blvd NE A220 Albuquerque NM 87112 5616260 0 X sandstonehousing.com X 1969 AZ Assisted low and middle income families with safe, healthy and affordable housing opportunities. 5 5 63 1 0 0 0 0 4917906 5028287 118 -115428 1897 586806 4919921 5499665 0 0 0 0 2187753 2073213 0 0 0 5297202 5218932 7484955 7292145 -2565034 -1792480 24635882 22134849 12647894 14805033 11987988 7329816 Our mission is to provide safe, healthy, and affordable housing for low-income to moderate-income families on the Navajo Nation. Our goal is to work together with the members of the Navajo Nation to help improve their overall quality of living. 0 0 6581012 5615093 Fort Defiance Housing Corporation was established to provide low income housing to individuals of low to moderate income levels. Rent assistance is received through HUD Section 8 Rental Assistance Program. Fort Defiance Housing Corporation has built several low income housing complexes, which are available with an Indian Development Block Grant through the Navajo Housing Authority and HUD. There has been no ongoing construction since 2004. 6581012 1 0 0 0 0 0 0 0 0 0 1 0 0 1 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 1 0 0 0 0 1 16 0 1 63 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 0 0 0 0 X X The Organization 5058210193 8500 Menaul Blvd NE A220 Albuquerque NM 87112 Russell Tanzer Board Chairman 1.00 X X 0 0 0 Starla Yellowman Board Secretary 1.00 X X 1750 0 0 David McLeod Board Member 1.00 X 1750 0 0 Tracy Alexis Board Member 1.00 X 1750 0 0 Timothy Begay Board Member 1.00 X 9420 0 0 Shelby Garcia CEO 50.00 X 91595 0 31178 106265 0 31178 0 0 0 0 0 Rental Income 531110 3927145 3927145 Tenant Subsidy Assistance 531110 1389936 1389936 Utility Income 531110 474641 474641 Other Tenant Charges 531110 70047 70047 Late Charges 531110 43857 43857 -877339 -877339 5028287 1167 1167 116595 -116595 -116595 -116595 ERC Adj to Income Earned in PYs 900099 584089 584089 Other Income 900099 2717 2717 586806 5499665 5615093 0 -115428 137443 104306 33137 1774825 1415699 359126 9316 7233 2083 151629 117720 33909 49317 33354 15963 58399 39497 18902 62870 42521 20349 3757 1803 1954 201272 132356 68916 38591 38591 79129 72861 6268 8480 4070 4410 190099 190099 2766192 2727415 38777 254061 204402 49659 Utilities 573764 573764 Repairs and Maintenance 527234 524417 2817 Garbage and Trash Remov 268870 268372 498 Bad Debt Expense 65226 65226 71671 55897 15774 7292145 6581012 711133 0 357994 931035 118322 144303 86015997 66256055 22526104 19759942 1633462 1299569 24635882 22134849 525488 219694 84963 61294 11247636 13755627 789807 768418 12647894 14805033 X 11987988 7329816 11987988 7329816 24635882 22134849 -1792480 -2865692 0 X 0 1 X 1 1 1 X 27211 667396 694607 4479598 4410935 4383538 4917906 5028287 23220264 4479598 4438146 5050934 4917906 5028287 23914871 0 0 0 23914871 250 122 104 118 1167 1761 250 122 104 118 1167 1761 6466 2912 2726553 1897 586806 3324634 4486314 4441180 7777591 4919921 5616260 27241266 0.87790 0.89460 0.00010 0.00000 X Schedule A, Part III, Line 12, Explanation of Other Income: Other Income - 2019 Amount: $ 6,466. 2020 Amount: $ 2,912. 2021 Amount: $ 1,773. 2022 Amount: $ 1,897. 2023 Amount: $ 2,717. Forgiveness of Debt - 2021 Amount: $ 2,724,780. ERC Adj to Income Earned in Prior Years - 2023 Amount: $ 584,089. 76861787 57542938 19318849 3958304 3678932 279372 5195906 5034185 161721 19759942 Replacement and Mortgage Reserves 1025451 Prepaid Expenses and Other Assets 19995 Security Deposits 110974 Tenant Assistance A/R 55360 Operating Lease Right of Use Asset 87789 1299569 Tenants Security Deposit 179020 EIDL Loan 498702 Operating Lease Liabilities 90696 768418 X 5499665 0 5499665 0 5499665 7292145 0 7292145 0 7292145 Part X, Line 2: FDHC is a Section 501(c)(3) exempt from taxation under the Internal Revenue Code ("IRC") section 501(a) and classified as other than a private foundation under IRC section 509(a)(1). Accordingly, no provision is made in the accompanying consolidated financial statements for federal and state income taxes. Income from certain activities not directly related to FDHC's tax exempt purpose, however, may be subject to taxation as unrelated business income. Management is not aware of any matters which would cause FDHC to lose its tax-exempt status. FDLP was organized as a single-member limited liability company and its taxable income or loss is reflected in FDHC's (sole member) exempt organization tax returns. FDLP is not required to file and does not file returns as it is considered a disregarded entity for tax purposes. Management has considered its tax positions and believes that all of the positions taken in its federal and state tax returns are more likely than not to be sustained upon examination. The Organization's returns are subject to examination by federal and state taxing authorities, generally for three years and four years, respectively, after they are filed. The Organization recognizes interest and penalties related to unrecognized tax benefits in miscellaneous expenses in the accompanying consolidated financial statements. During the years ended December 31, 2023 and 2022, the Organization did not recognize any interest and penalties. Form 990, Part VI, Section B, line 11b The tax return is reviewed by the Board of Directors prior to being signed by the CEO. Form 990, Part VI, Section B, line 12c The Board of Directors monitors and enforces compliance with the conflict of interest policy. Form 990, Part VI, Section C, line 19 Copies of the governing documents, including the conflict of interest policy and financial statements are available upon request. Form 990, Part XI, Line 8: During 2021 USDA repurchased $2.86 Million of debt from Wells Fargo. Originally it was understood by management that this was a forgiveness of debt after the amounts were paid off however during the 2023 audit Management was made aware that this was actually a repurchase and not a forgiveness. To correct this error, the December 31, 2021 consolidated financial statements were restated. The restatement resulted in an increase in long term debt of $2,865,692 and a corresponding decrease of net assets of the same amount. Fort Defiance Ltd 6200 Seagull NE Suite D Albequerque NM 87109 850447664 Real Estate Rentals NM 266609 3209058 Fort Defiance Housing Corporation