2024-11-14T18:46:44-06:00 2023-12-31 205991824 SC&H GROUP INC 910 RIDGEBROOK ROAD SPARKS MD 21152 990 2023-01-01 541251222 KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION KEYB 7034860626 2230 NORTH FAIRFAX DRIVE 100 ARLINGTON VA 22201 JOHN ELLIOTT CFO 7034860626 2024-11-14 1 0 TRAVIS DANIEL P01289276 4104031500 2024-11-14 2023 2024-10-15 13:58:12Z PAUL BERNARD 2230 NORTH FAIRFAX DRIVE 100 ARLINGTON VA 22201 729559 0 X WWW.AHCINC.ORG X 1983 VA TO ASSIST IN THE OPERATIONS OF DECENT, SAFE, AFFORDABLE HOUSING FOR LOW INCOME PERSONS. 5 0 0 0 0 0 0 0 750768 729559 0 0 0 0 750768 729559 188927 0 0 0 71480 112538 0 0 0 491574 514519 751981 627057 -1213 102502 3492815 3320685 2860938 2609351 631877 711334 TO ASSIST IN THE OPERATIONS OF DECENT, SAFE, AFFORDABLE HOUSING FOR LOW INCOME PERSONS. 0 0 568774 729559 KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION CONSISTS OF SIX MARKET-RATE APARTMENTS WITH NO INCOME QUALIFICATIONS AND 40 AFFORDABLE APARTMENTS AVAILABLE TO INDIVIDUALS EARNING UP TO 80% OF THE AREA MEDIAN INCOME. IN 2021, A MODEST REHAB WAS COMPLETED AND 5 UNITS WERE ADDED TO THE BUILDING. RESIDENT SERVICES PROVIDED EVICTION PREVENTION AND RENTAL ASSISTANCE AS WELL AS GROCERIES AND FOOD DISTRIBUTION TO RESIDENTS. 568774 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 1 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 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 0 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 VA X JOHN ELLIOTT CO AHC INC 7034860626 2230 NORTH FAIRFAX DRIVE SUITE 100 ARLINGTON VA 22201 PAUL BERNARD PRESIDENT 1.00 39.00 X X 0 346604 20307 KENNETH CRAWFORD VICE PRESIDENT 1.00 39.00 X X 0 161530 8363 STEVE YEATMAN TREASURER 1.00 39.00 X X 0 268397 33849 JENNIFER ENDO SECRETARY 1.00 39.00 X X 0 195474 28589 ALAN GOLDSTEIN VICE PRESIDENT UNTIL 9/23 1.00 39.00 X X 0 268075 36348 WALTER WEBDALE FORMER PRESIDENT 0.00 40.00 X 0 129813 0 0 1369893 127456 0 1 1 0 0 RENTAL INCOME 531110 717864 717864 OTHER INCOME 531110 6260 6260 LAUNDRY INCOME 531110 5435 5435 729559 729559 729559 0 0 X 99015 99015 6109 6109 7414 7414 28812 28812 1321 1321 11495 11495 21102 3126 17976 1474 1474 15097 15097 12523 12523 343545 343545 70883 70883 BAD DEBT EXPENSE 4345 4345 COMPLIANCE FEE 2460 2460 MISCELLANEOUS ADMIN EXP 1462 1462 627057 568774 58283 0 295453 183236 19661 20209 1998 3000 4029981 1635180 2467760 2394801 707943 719439 3492815 3320685 34753 19418 24374 23833 23627 24887 2778184 2541213 2860938 2609351 X 631877 711334 631877 711334 3492815 3320685 X 102502 -23045 X X 1 X 1 X 1 0 X 596379 644176 684194 750768 729559 3405076 596379 644176 684194 750768 729559 3405076 0 307707 340013 334993 435511 364640 1782864 307707 340013 334993 435511 364640 1782864 1622212 350 327 677 350 327 677 596729 644503 684194 750768 729559 3405753 0.47630 0.46480 0.00020 0.00030 X 0 1 X 795372 795372 2827563 1410892 1416671 216432 177512 38920 190614 46776 143838 2394801 DUE FROM AFFILIATES 601753 TENANT SECURITY DEPOSITS 26440 RESERVES 91246 719439 DUE TO AFFILIATE 2541213 2541213 730100 0 730100 -541 -541 729559 650643 0 650643 -23586 -23586 627057 PART IV, LINE 2B: THE AMOUNTS OF $24,887 AND $23,627 AS OF DECEMBER 31, 2023 AND 2022, RESPECTIVELY, REPRESENT ESCROW ACCOUNT OF TENANT SECURITY HELD IN TRUST. TENANT SECURITY DEPOSITS ARE HELD IN A FEDERALLY INSURED BANK PER VIRGINIA RENT ESCROW LAW. PART XI, LINE 4B - OTHER ADJUSTMENTS: PREPAID RENTS INCLUDED FOR TAX -541. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPRECIATION -23,586. 1 PART I, LINE 2: KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION WILL MAKE CHARITABLE DONATIONS TO AHC, INC., A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(3). THE DONATION EACH YEAR IS CONTINGENT UPON THE ORGANIZATION'S BOARD APPROVAL DURING THE BUDGET PROCESS. KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION ACKNOWLEDGES THAT AHC, INC. PROMISES TO USE THE AMOUNT DONATED FOR THE PURPOSES SPECIFIED. KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION DOES NOT TYPICALLY AWARD OUTSIDE GRANTS TO OTHER ORGANIZATIONS. 0 0 0 0 0 0 0 0 0 PAUL BERNARD PRESIDENT 0 320604 0 26000 0 0 0 8838 0 11469 0 366911 0 0 ALAN GOLDSTEIN VICE PRESIDENT UNTIL 9/23 0 250404 0 17671 0 0 0 20558 0 15790 0 304423 0 0 STEVE YEATMAN TREASURER 0 249820 0 18577 0 0 0 20351 0 13498 0 302246 0 0 JENNIFER ENDO SECRETARY 0 180916 0 14558 0 0 0 15518 0 13071 0 224063 0 0 KENNETH CRAWFORD VICE PRESIDENT 0 161530 0 0 0 0 0 1731 0 6632 0 169893 0 0 WALTER WEBDALE FORMER PRESIDENT 0 129813 0 0 0 0 0 0 0 0 0 129813 0 0 PART I, LINE 3 KEY BOULEVARD HOUSING DEVELOPMENT CORPORATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE AHC, INC., A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(3). A COMPENSATION STUDY ANALYSIS IS PERFORMED FOR TOP POSITIONS. A COMPENSATION CONSULTANT WAS USED TO DETERMINE MARKET RATE COMPENSATION AS RELATED TO JOB DESCRIPTIONS. FORM 990, PART VI, SECTION A, LINE 3 ON MARCH 28, 2022, THE EXISTING PROPERTY MANAGEMENT AGREEMENT, IN CONNECTION WITH THE MANAGEMENT OF THE RENTAL OPERATIONS OF THE PROJECT, WAS ASSIGNED TO PARADIGM MANAGEMENT II, L.P., AN UNRELATED THIRD PARTY, AND AMENDED. THE PROPERTY MANAGEMENT FEE IS BASED ON 4% OF THE PROJECT'S GROSS RENT COLLECTIONS, AS DEFINED. FOR THE YEAR ENDED DECEMBER 31, 2023, FEES IN THE AMOUNT OF $28,812 WERE INCURRED. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED ANNUALLY BY THE AHC, INC. BOARD OF DIRECTORS IN ACCORDANCE WITH THE ARTICLES OF INCORPORATION SECTION 6. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS THE FORM 990 AND APPROVES THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE THROUGH CONTRACTS MANAGEMENT OR SELF DISCLOSURE, CONFLICTS ARE IDENTIFIED AND RELATED PARTIES ARE EXCLUDED FROM THE DECISION-MAKING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 16 OCCUPANCY EXPENSE: UTILITIES $64,724 REPAIRS & MAINTENANCE 148,092 REAL ESTATE TAXES 46,683 PROPERTY INSURANCE 23,056 MISCELLANEOUS TAXES 490 INTEREST EXPENSE 60,500 TOTAL OCCUPANCY EXPENSE $343,545 FORM 990, PART XI, LINE 9: BOOK TO TAX ADJUSTMENTS -23,045. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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