2024-03-15T13:27:50-05:00 2023-04-30 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2022-05-01 596194199 KINNERET INC KINN 4074254537 515 S DELANEY AVENUE ORLANDO FL 32801 RHONDA K PEARLMAN PRESIDENT 4074254537 2024-03-15 1 RHONDA PEARLMAN 999009999 1 FARLEN HALIKMAN P00363033 4077405400 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z KINNERET APARTMENTS RHONDA K PEARLMAN 515 S DELANEY AVENUE ORLANDO FL 32801 28818095 0 X WWW.KINNERETCOUNCIL.ORG X 1967 FL KINNERET, INC. IS THE OWNER OF AN APARTMENT COMPLEX WHOSE MISSION IS TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES TO LOW INCOME ELDERLY. X 15 15 0 17 0 0 0 0 2052660 986219 3437 27831876 25055 0 2081152 28818095 0 62400 0 0 201328 72203 0 0 0 958495 332278 1159823 466881 921329 28351214 2262156 29916012 912087 2678 1350069 29913334 KINNERET, INC. IS THE OWNER OF A HUD SUBSIDIZED APARTMENT COMPLEX WHOSE MISSION IS TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES TO LOW INCOME ELDERLY THROUGH PARTICIPATION IN THE SECTION 202 PROGRAM. 0 0 446889 62400 986219 THE ORGANIZATION OPERATES A LOW INCOME HOUSING PROJECT FOR ELDERLY AND HANDICAPPED INDIVIDUALS. 446889 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 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 1 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 1 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SHALOM ORLANDO 4076455933 851 N MAITLAND AVE MAITLAND FL 32751 X RHONDA K PEARLMAN PRESIDENT 5.00 6.00 X X 0 0 0 DICK APPELBAUM VICE PRESIDENT 1.00 2.00 X X 0 0 0 SCOTT ZIMMERMAN VP, TREASURER 5.00 10.00 X X 0 0 0 NEAL BLAHER DIRECTOR 1.00 2.00 X 0 0 0 LYNN FENSTER DIRECTOR 1.00 3.00 X 0 0 0 CAROL FEUERMAN DIRECTOR 1.00 6.00 X 0 0 0 LARRY GUTTER DIRECTOR 1.00 2.00 X 0 0 0 JOANNE KANE DIRECTOR 1.00 2.00 X 0 0 0 ERIN KATZMAN DIRECTOR 1.00 3.00 X 0 0 0 DON LEVIN DIRECTOR 1.00 2.00 X 0 0 0 ROSS PEARLMAN DIRECTOR 1.00 2.00 X 0 0 0 ALISON POLEJES DIRECTOR 1.00 2.00 X 0 0 0 MOLLIE SAVAGE DIRECTOR 1.00 2.00 X 0 0 0 GEANNE SHARE DIRECTOR 1.00 2.00 X 0 0 0 OLIVIA SHARE DIRECTOR 1.00 2.00 X 0 0 0 ROBERT HARA DIRECTOR EMERITUS (NON-VOT 1.00 2.00 X 0 0 0 PAUL MANDELKERN DIRECTOR EMERITUS (NON-VOT 1.00 2.00 X 0 0 0 MARK B SILVERBERG DIRECTOR EMERITUS (NON-VOT 1.00 2.00 X 0 0 0 0 0 0 0 0 0 0 0 RENT FROM RESIDENTS 531110 971168 971168 COMMERCIAL RENT 531110 9406 9406 LAUNDRY AND VENDING 531110 5645 5645 986219 426613 426613 27405263 0 27405263 27405263 27405263 28818095 986219 0 27831876 62400 62400 72203 72203 63344 53070 10274 8741 8741 7737 7332 405 169046 169046 572 572 13908 13908 68930 68930 466881 446889 19992 0 272440 515932 92749 2645 95880 0 603965 1115443 29343813 79034 56267 2262156 29916012 73868 2678 8119 0 740136 0 89964 0 912087 2678 X 1350069 29913334 1350069 29913334 2262156 29916012 28351214 212051 0 X X 0 1 X 1 0 X 1089842 1132045 1128871 2052660 986219 6389637 1089842 1132045 1128871 2052660 986219 6389637 0 0 0 6389637 3510 6528 500 3437 426613 440588 3510 6528 500 3437 426613 440588 3205 4065 66875 25055 99200 1096557 1142638 1196246 2081152 1412832 6929425 0.92210 0.98150 0.06360 0.00240 X 0 RAYMOND JAMES INVESTMENTS AND EXCESS CASH 29343813 F 29343813 X PART X, LINE 2: KINNERET IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND HAS BEEN GRANTED RECOGNITION OF ITS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, INCOME EARNED IN FURTHERANCE OF KINNERET'S TAX-EXEMPT PURPOSE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. CONSEQUENTLY, THESE FINANCIAL STATEMENTS CONTAIN NO PROVISION OR LIABILITY FOR INCOME TAXES. 1 KINNERET COUNCIL ON AGING INC 515 S DELANEY AVENUE ORLANDO FL 32801 593408517 501(C)(3) 62400 0 GENERAL SUPPORT. PART I, LINE 2: THE ORGANIZATION PROVIDED GRANTS SOLELY TO KINNERET COUNCIL ON AGING, INC. A RELATED ORGANIZATION. THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS THROUGH OVERLAP OF MANAGEMENT PERSONNEL BETWEEN THE FILING ORGANIZATION AND THE RECIPIENT ORGANIZATION. SALE OF BUILDING AND DISCONTINUED OPERATIONS 2023-10-17 27658022 FAIR MARKET VALUE FAIRSTEAD MANAGEMENT LLC 250 WEST 55TH STREET 35TH FLO NEW YORK NY 10019 0 0 0 0 PART V, LINE 2A THE ORGANIZATION'S PAYROLL AND PAYROLL TAX EXPENSES ARE PAID BY A RELATED ORGANIZATION, KINNERET II, INC. THE ORGANIZATION REIMBURSES KINNERET II FOR SUCH EXPENSES. FORM 990, PART VI, SECTION A, LINE 2 DICK APPELBAUM IS THE FATHER OF ALISON POLEJES. ROSS PEARLMAN, A MEMBER OF THE BOARD OF DIRECTORS IS THE SON OF ANOTHER BOARD MEMBER, RHONDA PEARLMAN. OLIVIA SHARE, A MEMBER OF THE BOARD OF DIRECTORS, IS THE DAUGHTER OF ANOTHER BOARD MEMBER, GEANNE SHARE. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATES ITS FINANCIAL REPORTING AND COMPLIANCE FUNCTIONS TO A MANAGEMENT COMPANY. THROUGH THE DATE OF THE SALE OF PROPERTIES IN OCTOBER OF 2023, CARTERET MANAGEMENT CORPORATION ("CARTERET") WAS THE MANAGING AGENT FOR KINNERET. THE MANAGEMENT AGREEMENT PROVIDES, AMONG OTHER THINGS, FOR A MANAGEMENT FEE OF APPROXIMATELY FIVE PERCENT OF GROSS COLLECTIONS. IN ADDITION TO THE MANAGEMENT FEE, CARTERET RECEIVES A BOOKKEEPING FEE OF $3 PER APARTMENT UNIT PER MONTH. AFTER OCTOBER OF 2023, THE ORGANIZATION BEGAN TO DELEGATE ITS FINANCIAL AND COMPLIANCE FUNCTIONS TO SHALOM MANAGEMENT, LLC ("SHALOM"). THIS MANAGEMENT AGREEMENT PROVIDES BOOKKEEPING SERVICES ONLY. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION (HEREINAFTER, EACH REFERRED TO AS A "MEMBER") SHALL BE THE CORPORATION'S PRESIDENT, VICE PRESIDENT(S), SECRETARY, AND TREASURER WHO HAVE BEEN ELECTED TO SERVE AND ARE SERVING AS SUCH FOR THE THEN-CURRENT YEAR. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD, BY RESOLUTION ADOPTED BY A MAJORITY OF THE ENTIRE BOARD, MAY APPOINT ONE OR MORE OTHER INDIVIDUALS TO SERVE AS MEMBERS FOR ANNUAL ONE (1) YEAR TERMS, WHICH TERM MAY BE RENEWED ON A CONSECUTIVE BASIS. THE BOARD MAY DECLINE TO RENEW THE MEMBERSHIP OF A MEMBER FOR ANY REASON. FORM 990, PART VI, SECTION A, LINE 7B APPROVAL OF GOVERNANCE DECISIONS IS RESERVED FOR AND SUBJECT TO THE APPROVAL OF THE ORGANIZATION'S MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IDENTIFIES A FINANCIALLY SOPHISTICATED DESIGNEE DIRECTOR TO REVIEW FORM 990 WITH OUR TAX PREPARER/CPA. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS OVERSEES THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. THERE IS AT LEAST ANNUALLY A REQUIREMENT FOR EACH BOARD MEMBER TO DISCLOSE ANY CONFLICTS TO THE REST OF THE BOARD. A CONFLICTED DIRECTOR IS RECUSED FROM VOTING ON MATTERS RELATED TO THEIR CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, IN CONNECTION WITH THE BUDGETARY APPROVAL PROCESS, OBTAINS COMPETITIVE SALARY INFORMATION AND ESTABLISHES A COMPENSATION MATRIX APPLICABLE TO ALL ORGANIZATION EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL POLICIES, COPIES OF FORM 990, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST TO THE PRESIDENT OF THE BOARD OF DIRECTORS. FORM 990, PART XII, LINE 2C OVERSIGHT OF THE AUDIT: THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS HAS RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. KINNERET II INC 515 S DELANEY AVENUE ORLANDO FL 32801 591760028 HOUSING FL 501(C)(3) LINE 11 N/A 0 KINNERET COUNCIL ON AGING INC 515 S DELANEY AVENUE ORLANDO FL 32801 593408517 SERVICES FOR RESIDENTS OF LOW-INCOME ELDERLY APARTMENT COMPLEX FL 501(C)(3) LINE 11 N/A 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0