2024-12-16T15:14:54-06:00 2024-01-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2023-02-01 521927939 CAPREIT WELFARE BENEFIT TRUST CAPR 3012318700 6116 EXECUTIVE BLVD 100 ROCKVILLE MD 20852 IRA STRASSBERG OFFICER 3012318700 2024-12-16 1 1 LORI ROTHE YOKOBOSKY CPA P01273422 3016529100 2024-12-13 2023 2024-10-15 13:58:12Z IRA STRASSBERG 6116 EXECUTIVE BLVD 100 ROCKVILLE MD 20852 4262981 0 X N/A X 2013 MD TO SUPPORT HEALTH AND OTHER BENEFITS TO BE PAID TO THE ELIGIBLE EMPLOYEES OF CAPREIT. 1 1 0 0 53218 47828 0 0 4360536 4209763 0 53218 0 0 4360536 4262981 0 0 4500967 3527123 0 0 0 0 0 327501 269700 4828468 3796823 -467932 466158 2039851 2417145 122281 33417 1917570 2383728 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 1 1 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 X CAPREIT OPERATING LP 3012318700 6116 EXECUTIVE BLVD SUITE 100 ROCKVILLE MD 20852 X CAPREIT OPERATING LP TRUSTEE 1.00 X 0 0 0 0 0 0 0 0 0 0 0 EMPLOYER & EMPLOYEE CO 900099 4209763 4209763 4209763 53218 53218 4262981 4209763 53218 0 3527123 2500 267200 3796823 2039851 2417145 2039851 2417145 122281 33417 122281 33417 X 1917570 2383728 1917570 2383728 2039851 2417145 466158 0 X 0 1 X 0 0 0 X 4262981 0 4262981 0 4262981 3796823 0 3796823 0 3796823 PART X, LINE 2: THE INTERNAL REVENUE SERVICE ("IRS") HAS DETERMINED AND INFORMED THE PLAN SPONSOR BY A LETTER DATED FEBRUARY 13, 2013, THAT THE PLAN AND RELATED TRUST ARE DESIGNED IN ACCORDANCE WITH APPLICABLE SECTIONS OF THE INTERNAL REVENUE CODE ("IRC"). ALTHOUGH THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER, THE PLAN ADMINISTRATOR AND THE PLAN'S TAX COUNSEL BELIEVE THAT THE PLAN IS DESIGNED, AND IS CURRENTLY BEING OPERATED, IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVE THAT THE PLAN IS QUALIFIED AND THE RELATED TRUST IS TAX-EXEMPT. U.S. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. AS OF NOVEMBER 12, 2024, THE DATE THE FINANCIAL STATEMENTS WERE AVAILABLE TO BE ISSUED, REQUIRED NONDISCRIMINATION TESTING FOR THE YEAR ENDED JANUARY 31, 2024 HAD NOT BEEN COMPLETED FOR THE PLAN. PLAN MANAGEMENT DOES NOT BELIEVE THAT THIS WILL HAVE A MATERIAL IMPACT ON THE PLAN'S FINANCIAL STATEMENTS AND WILL TAKE APPROPRIATE ACTIONS, IF ANY ARE REQUIRED, TO MAINTAIN THE PLAN'S QUALIFIED TAX STATUS. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF JANUARY 31, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: CAPREIT WELFARE BENEFIT PLAN (THE PLAN) WAS FORMED TO SERVE AS THE FUNDING VEHICLE FOR HEALTH AND OTHER BENEFITS TO BE PAID TO THE ELIGIBLE EMPLOYEES OF CAPREIT OPERATING LP, CAPREIT RESIDENTIAL CORPORATION, AND CAPREIT MANAGEMENT, LLC AND THEIR RESPECTIVE ELIGIBLE DEPENDENTS PURSUANT TO THE CAPREIT WELFARE BENEFIT PLAN. THE PLAN IS ENGAGED IN NO ACTIVITIES OTHER THAN THOSE REQUIRED TO MAINTAIN ITS EXISTENCE. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: THE PLAN PROVIDES BENEFITS CONSISTING OF (I) A PARTIALLY SELF-FUNDED HEALTH PROGRAM PROVIDING MEDICAL, DENTAL, AND PRESCRIPTION BENEFITS, (II) A PREMIUM CONVERSION PROGRAM DESIGNED TO ENABLE PARTICIPANTS TO PAY THEIR PORTION OF THE COST OF COVERAGE ON A PRE-TAX BASIS UNDER THE EMPLOYER'S SELF-INSURED HEALTH PROGRAM, (III) A LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT (AD&D) PROGRAM, (IV) A LONG TERM DISABILITY PROGRAM, AND (V) AN ORGAN OR TISSUE TRANSPLANT PROGRAM. CURRENT HEALTH CLAIMS OF PARTICIPANTS AND THEIR PARTICIPATING ELIGIBLE DEPENDENTS ARE PROVIDED UNDER A GROUP STOP-LOSS INSURANCE ARRANGEMENT AFTER CERTAIN INDIVIDUAL AND FAMILY LIMITS OF $150,000 AND AGGREGATE CLAIMS LIMITS WHICH ARE BASED ON AN AGREED-UPON FORMULA WITH THE INSURER ARE MET. FORM 990, PART VI, SECTION A, LINE 7A CAPREIT OPERATING LIMITED PARTNERSHIP IS THE PLAN SPONSOR, THE ADMINISTRATOR. THEY HAVE THE POWER TO APPOINT THE TRUSTEE AND TERMINATE THE PLAN. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE TRUSTEE. FORM 990, PART VI, SECTION B, LINE 11B OFFICERS OF THE TRUSTEE'S GENERAL PARTNER REVIEW THE PLAN'S FEDERAL FORM 990 FOR ACCURACY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12 THE TRUSTEE USES THE CONFLICT OF INTEREST OF ITS GENERAL PARTNER. THE TRUSTEE'S GENERAL PARTNER MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY AND ANY IMPACT ON PLAN ADMINISTRATION. FORM 990, PART VI, SECTION C, LINE 19 THE PLAN MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CAPREIT OPERATING LIMITED PARTNERSHIP 6116 EXECUTIVE BLVD SUITE 100 ROCKVILLE MD 20852 522064504 REAL ESTATE MD N/A INVESTMENT 0 0 CAPREIT RESIDENTAL MANAGEMENT LLC 6116 EXECUTIVE BLVD SUITE 100 ROCKVILLE MD 20852 522347515 REAL ESTATE MD N/A 0 0 CAPREIT RESIDENTIAL CORPORATION 6116 EXECUTIVE BLVD SUITE 100 ROCKVILLE MD 20852 521858131 REAL ESTATE MD N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1