2024-12-04T13:54:44-06:00 2024-09-30 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-10-01 581360271 LUTHERHAUS INCORPORATED LUTH 8283223720 720 7TH AVENUE NE HICKORY NC 28601 WILLIAM SIGMON CHAIR 8283223720 2024-12-04 1 0 JACOB A SOWERS P01712829 3178485700 2023 2024-10-15 13:58:12Z LUTHERHAUS APARTMENTS WILLIAM SIGMON 720 7TH AVENUE NE HICKORY NC 28601 456226 0 X N/A X 1979 NC THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN HICKORY, NORTH CAROLINA, KNOW AS LUTHERHAUS APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 11 11 0 0 0 0 284768 281213 144751 166019 4737 -659 2321 2430 436577 449003 0 0 0 0 0 0 0 0 0 403436 417365 403436 417365 33141 31638 790917 791679 1209619 1178743 -418702 -387064 X THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN HICKORY, NORTH CAROLINA, KNOW AS LUTHERHAUS APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 0 0 361060 158796 THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN HICKORY, NORTH CAROLINA, KNOW AS LUTHERHAUS APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 361060 1 1 0 0 0 0 0 0 0 0 1 0 1 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 0 0 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 1 0 0 1 1 0 1 1 0 0 1 0 0 1 0 0 0 X LAURA GRIMES 3367650424 PO BOX 25168 WINSTONSALEM NC 27114 X WILLIAM SIGMON CHAIR 0.50 0.00 X X 0 0 0 CINDY ELDER VICE CHAIR 0.50 0.00 X X 0 0 0 ALLEN CALDWELL TREASURER 0.50 0.00 X X 0 0 0 TED GOINS JR SECRETARY 0.50 0.00 X X 0 0 0 BECKIE TOMPKINS DIRECTOR 0.50 0.00 X 0 0 0 LINDA LUTZ DIRECTOR 0.50 0.00 X 0 0 0 CHRISTY LOHR SAPP DIRECTOR 0.50 0.00 X 0 0 0 SKIP DOWNS DIRECTOR 0.50 0.00 X 0 0 0 BRENDA FOX DIRECTOR 0.50 0.00 X 0 0 0 HANNAH HUFFMAN DIRECTOR 0.50 0.00 X 0 0 0 KENDRA HENDREN DIRECTOR 0.50 0.00 X 0 0 0 0 0 0 0 0 0 0 0 281213 281213 RENTAL INCOME 531110 166019 166019 166019 6564 6564 7223 -7223 -7223 -7223 LAUNDRY & VENDING 531110 2237 2237 OTHER REVENUE-MISC. 531110 134 134 TENANT CHARGES 531110 59 59 2430 449003 158796 0 8994 37843 37843 2 2 6407 6407 224 224 7498 7498 1541 1541 269721 269721 845 845 1426 1426 18726 18726 519 519 MTG CO. EMPLOYEE CHARGE 72613 72613 417365 361060 56305 0 828 0 2792 1096 21758 18831 1850259 1450966 396616 399293 146786 131520 64423 60811 157714 180128 790917 791679 15295 13478 24 3 1165359 1127308 28941 37954 1209619 1178743 X -418702 -387064 -418702 -387064 790917 791679 31638 0 X X 0 1 X 1 1 1 X 278296 293936 289011 284768 281213 1427224 278296 293936 289011 284768 281213 1427224 1427224 150 96 124 4737 6564 11671 2323 1801 2732 2321 2430 11607 1450502 692279 0.98400 0.96330 X SCHEDULE A, PART II, LINE 10: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. INCLUDED ON PAGE 9 IN CURRENT YEAR OTHER REVENUE LINE 7C IS A LOSS ON DISPOSAL OF DEPRECIABLE ASSETS OF $7,223. THE LOSS IS NOT BEING INCLUDED ON SCHEDULE A, PART III, LINE 12 BECAUSE IT DOES NOT MEET THE DEFINITON OF SUPPORT AS DEFINED IN SECTION 509(D) OF THE INTERNAL REVENUE CODE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50750 50750 1373728 1066649 307079 82384 40920 41464 343397 343397 0 399293 MORTGAGE ESCROW DEPOSITS 11551 C RESERVE REPLACEMENT FUND 118606 C RESIDUAL RECEIPTS 1363 C 131520 DEBT SERVICE SAVINGS 159443 SECURITY DEPOSITS 20685 180128 SECURITY DEPOSITS 19281 ACCRUED WAGES PAYABLE 3803 ACCRUED PAYROLL TAXES PAYABLE 273 ACCRUED INTEREST PAYABLE 5402 ACCRUED MGMT FEE PAYABLE 3330 MISC. CURRENT LIABILITIES 5865 37954 X 456225 7222 7222 449003 0 449003 427135 9770 9770 417365 0 417365 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 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 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL 7,222. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION EXPENSE DIFFERENCE 4,004. LOSS ON DISPOSAL 5,766. FORM 990, PART VI, SECTION A, LINE 3 LUTHERHAUS, INCORPORATED IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANAGEMENT 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 APPROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE LUTHERHAUS, INCORPORATED PROPERTY. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE LIMITED AT ALL TIMES TO INDIVIDUALS WHO ARE INCLUDED IN ONE OF THE FOLLOWING CLASSES: A.INDIVIDUALS WHO ARE TRUSTEES, DIRECTORS OR COUNCIL MEMBERS OF ST. ANDREW'S EVANGELICAL LUTHERAN CHURCH IN AMERICA, LOCATED IN HICKORY NORTH CAROLINA, OR THEIR DESIGNEES; B.INDIVIDUALS WHO ARE TRUSTEES, DIRECTORS OR COUNCIL MEMBERS OF BETHANY EVANGELICAL LUTHERAN CHURCH IN AMERICA, LOCATED IN HICKORY, NORTH CAROLINA, OR THEIR DESIGNEES; AND C.INDIVIDUALS WHO ARE TRUSTEES, DIRECTORS OR COUNCIL MEMBERS OF LUTHERAN SERVICES FOR THE AGING, INC., LOCATED IN SALISBURY, NORTH CAROLINA, OR THEIR DESIGNEES. FORM 990, PART VI, SECTION A, LINE 7A EXCEPT FOR THE APPOINTMENT OF DIRECTORS IN ACCORDANCE WITH THE BY-LAWS OF THE CORPORATION THE MEMBERS SHALL HAVE NO VOTING RIGHTS. DIRECTORS SHALL BE APPOINTED BY ST ANDREWS EVANGELICAL, BETHANY ELCA AND LUTHERAN SERVICES FOR THE AGING (LSA). THE SENIOR PASTORS OF ST ANDREWS AND BETHANY ELCA AND THE PRESIDENT OF LSA SHALL ALSO SERVE AS EX OFFICIO MEMBERS OF THE BOARD WITH VOICE AND VOTES. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE INDEPENDENT ACCOUNTANT FORWARDS 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 THEIR 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 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES THEIR POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. 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.