2024-05-15T15:35:43-05:00 2023-06-30 521186096 RUBINO AND COMPANY CHARTERED 1960 GALLOWS ROAD SUITE 340 VIENNA VA 22182 990 2022-07-01 521068302 TOWN CENTER APARTMENTS INC TOWN 2407739000 10400 DETRICK AVENUE KENSINGTON MD 20895 CHELSEA ANDREWS EXECUTIVE DIRECTOR, HOC 2407739000 2024-05-15 1 CHELSEA ANDREWS 999009999 0 GERALD A GOLDMAN CPA P00676544 7035069700 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHELSEA ANDREWS 10400 DETRICK AVENUE KENSINGTON MD 20895 260413 0 X N/A X 1976 MD THE CORPORATION PROVIDES HOUSING FOR LOW-INCOME HOUSING FAMILIES. 4 4 0 4 0 0 757757 0 245626 260368 8 45 0 0 1003391 260413 0 0 0 0 298298 55128 0 0 0 582470 345511 880768 400639 122623 -140226 1693394 1856892 486764 790488 1206630 1066404 X THE ORGANIZATION OPERATES A 112 RESIDENTIAL RENTAL UNITS COMPLEX FOR LOW-INCOME RESIDENTS. 0 1 381441 260318 THE ORGANIZATION OPERATES A 112 RESIDENTIAL RENTAL UNITS COMPLEX FOR LOW-INCOME FAMILIES. 381441 1 0 0 0 0 0 0 0 0 0 1 0 0 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 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 X HOUSING OPPORTUNITIES COMM 2407739000 10400 DETRICK AVENUE KENSINGTON MD 20895 X SALLY ROMAN PRESIDENT 0.25 X X 0 0 0 SHANE POLLIN DIRECTOR 0.25 X 0 0 0 ROY O'PRIEST COMMISSIONER 0.25 X 0 0 0 JACKIE SIMON COMMISSIONER 0.25 X 0 0 0 0 0 0 0 0 0 0 0 RENT AND RELATED SERVICES 531110 260368 260368 260368 45 45 260413 260368 0 45 37290 37290 2195 2195 12818 12818 2825 2825 252 252 1491 1491 8300 8300 589 589 70660 70660 16442 16442 SECURITY CONTRACT 162282 162282 UTILITIES 57246 57246 MISCELLANEOUS OPERATING 19875 19875 TEMPORARY AGENCY SERVIC 18534 18534 -10160 -19567 9407 400639 381441 19198 0 28715 5202 -197824 46782 5920404 5162515 815529 757889 1046974 1047019 1693394 1856892 93447 13954 64747 3518 196957 196957 131613 576059 486764 790488 X 1206630 1066404 1206630 1066404 1693394 1856892 -140226 0 X 0 0 0 X 258775 359495 379032 757757 1755059 753210 896853 1242455 245626 260318 3398462 1011985 1256348 1621487 1003383 260318 5153521 0 0 0 5153521 179 42 8 8 45 282 179 42 8 8 45 282 1012164 1256390 1621495 1003391 260363 5153803 0.99990 0.99970 0.00010 0.00030 X 56000 56000 5138197 4553876 584321 724801 607233 117568 1406 1406 0 757889 TENANT SECURITY DEPOSITS 76193 MORTGAGE ESCROW 70188 RESERVE FOR REPLACEMENTS 506686 RESIDUAL RECEIPTS RESERVE 393952 1047019 TENANT SECURITY DEPOSITS 11633 OPERATING LOSS LOAN PAYABLE-AFFILIATE 564426 576059 X PART X, LINE 2: ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740 (ASC740), INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. IT IS MANAGEMENT'S BELIEF THAT THE CORPORATION DOES NOT HOLD ANY UNCERTAIN TAX POSITION. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. AT A MINIMUM, THE JUNE 30, 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES. FORM 990, PART III, LINE 3 THE ORGANIZATION OWNS A 112 UNIT RESIDENTIAL LOW-INCOME APARTMENT COMPLEX AT 90 MONROE STREET, ROCKVILLE, MD. THE SPONSOR THE HOUSING OPPORTUNITIES COMMISSION OF MONTGOMERY COUNTY, MARYLAND ("HOC"), THE PHA, HAS CLOSED THE COMPLEX DUE TO AGING AND SAFETY CONCERNS. THE TENANTS HAVE BEEN RELOCATED TO A NEW 150 UNIT MIXED-USE, MIXED-INCOME AFFORDABLE SENIOR APARTMENT COMPLEX LOCATED AROUND THE CORNER AT 2 HELEN HENAGHAN WAY, ROCKVILLE, MD. IT IS THE INTENTION OF HOC TO SELL THE ORGANIZATION'S APARTMENT COMPLEX. IN THE SHORT RUN, THE ASSET MY BE USED TEMPORARILY TO RELOCATE TENANTS WHILE OTHER PROPERTIES ARE BEING RENOVATED. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS OF TOWN CENTER IS THE GOVERNING BODY FOR TOWN CENTER APARTMENTS. INC. THE BOARD ENTERED INTO A MANAGEMENT AGREEMENT WITH THE HOUSING OPPORTUNTITIES COMMISSION OF MONTGOMERY COUNTY, MARYLAND (HOC) WHEREBY IT WAS AGREED THAT HOC IS RESPONSIBLE FOR MAINTAINING THE BOOKS AND RECORDS OF THE COMPANY AND FOR REPORTING REQUIREMENTS INCLUDING THE FILING OF ALL TAX RETURNS. AFTER THE TAX RETURNS ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THE RETURNS ARE REVIEWED BY HOC STAFF, HOC'S EXECUTIVE DIRECTOR APPROVES AND SIGNS IT. FORM 990, PART VI, SECTION B, LINE 15 TOWN CENTER APARTMENTS DOES NOT HAVE A CEO, EXECUTIVES, TOP MANAGEMENT OFFICIALS OR STAFF EMPLOYEES. ADDITIONALLY, ITS BOARD SERVES WITHOUT COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. HOUSING OPPORTUNITIES COMMISSION 10400 DETRICK AVENUE KENSINGTON MD 20895 MD N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0