2024-08-15T09:44:49-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2022-10-01 237001339 ALBERT LEA TRADES & LABOR ASSEMBLY SENIOR HOUSING INC ALBE 5073735391 915 MAPLEHILL DRIVE ALBERT LEA MN 56007 RICHARD CHAPMAN BOARD CHAIR 5073735391 2024-08-02 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2024-08-02 2022 2024-08-08 14:25:15Z RICHARD CHAPMAN 915 MAPLEHILL DRIVE ALBERT LEA MN 56007 1294343 0 X WWW.ALBERTLEASENIORHOUSING.COM X 1971 MN TO PROVIDE SUBSIDIZED RENTAL HOUSING FOR PERSONS WITH ELDERLY AND LOW INCOME QUALIFICATIONS 9 8 5 8 0 0 0 0 1139555 1285010 177 362 11206 8971 1150938 1294343 0 0 0 0 150962 148203 0 0 0 972540 1005993 1123502 1154196 27436 140147 2053967 2180091 2367910 2353887 -313943 -173796 TO PROVIDE SUBSIDIZED RENTAL HOUSING FOR PERSONS WITH ELDERLY AND LOW INCOME QUALIFICATIONS 0 0 888801 0 1285010 OPERATION OF ALBERT LEA TRADES AND LABOR ASSEMBLY SENIOR HOUSING, INC. TO PROVIDE 154 APARTMENTS OF SUBSIDIZED RENTAL HOUSING FOR PERSONS WITH ELDERLY OR LOW INCOME QUALIFICATIONS. 888801 0 0 0 0 0 0 0 1 0 1 0 0 1 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 0 0 0 0 0 1 24 0 5 0 0 0 0 0 0 0 0 0 X 9 8 1 1 0 0 1 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X LIFE STYLE INC MANAGMENT AGENT 5074518524 311 NORTH CEDAR AVE OWATONNA MN 55060 RICHARD CHAPMAN CHAIR 5.00 X X 0 0 0 DIANE LANDAAS VICE-CHAIR 2.00 X X 0 0 0 THERESA KNUDSTON TREASURER 1.00 X X 0 0 0 KEN BERTELSON SECRETARY 1.00 X X 0 0 0 BILL AVERY DIRECTOR 1.00 X 0 0 0 MARK ANDERSON DIRECTOR 1.00 X 0 0 0 FRANK WAKEFIELD DIRECTOR 1.00 X 0 0 0 BILL BUEGE DIRECTOR 1.00 X 0 0 0 DENNIS HAMBERG MANAGER 35.00 X 51455 0 0 HELEN HAMBERG MANAGER 35.00 X 32810 0 0 PAULA BACHTLE MANAGER 35.00 X 2594 0 0 86859 0 0 0 0 0 0 0 SUBSIDIZED RENTAL HOUS 532000 1269500 1269500 LAUNDRY REVENUE 812300 15510 15510 1285010 362 362 MISCELLANEOUS INCOME 900099 8971 8971 8971 1294343 1285010 0 9333 77003 77003 43977 43977 18493 6657 11836 8730 3143 5587 96036 96036 405 405 21446 21446 4040 4040 44531 27956 16575 410086 395566 14520 142474 142474 146846 146846 10950 10950 MISCELLANEOUS EXPENSE 83739 65792 17947 CONTRACTS 45440 45440 1154196 888801 265395 0 29263 36282 40980 43399 7221324 6031698 1215454 1189626 768270 910784 2053967 2180091 71292 111767 55757 57376 2240861 2184744 2367910 2353887 X -313943 -173796 -313943 -173796 2053967 2180091 140147 0 X 0 1 X 1 0 0 1 X 54181 54181 6502192 5695932 806260 664951 335766 329185 1189626 TENANT SECURITY DEPOSITS 57569 RESTRICTED DEPOSITS 718281 RESIDUAL RESERVES 124023 ESCROW DEPOSITS 10911 910784 X 1294343 0 1294343 0 1294343 1154196 0 1154196 0 1154196 PART IV, LINE 2B: THE PROJECT HOLDS IN TRUST, SECURITY DEPOSITS ADVANCED BY THE TENANTS OF THE PROJECT. THE PROJECT RECORDS THESE DEPOSITS PLUS INTEREST AS AN ASSET AND A RELATED LIABILITY. PART X, LINE 2: ALBERT LEA TRADES AND LABOR SENIOR HOUSING, INC. HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE PROJECT FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. NO LIABILITY HAS BEEN RECOGNIZED AS A RESULT OF THIS STANDARD. THE PROJECT FILES AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE IRS. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING INDIVIDUALS ARE RELATED PARTIES THAT SERVE AS MANAGERS THROUGH THE ORGANIZATION: HELEN HAMBERG & DENNIS HAMBERG - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION IS MANAGED BY LIFESTYLES INC. ALL FINANCIAL AND OPERATIONAL DECISIONS ARE MANAGED BY LIFESTYLES. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE THOSE PERSONS WHO ARE MEMBERS OF THE ALBERT LEA TRADES AND LABOR ASSEMBLY, AFL & CIO. THE MEMBERS OF THE CORPORATION SHALL ALL BE THE SAME CLASS, SHALL HAVE NO RIGHTS IN THE ANY OF THE PROPERTIES OF THE CORPORATION AND EACH SHALL HAVE ONE VOTE AT THE MEETINGS OF THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS SHALL BE ELECTED AT THE ANNUAL MEETING OF THE MEMBERS BY A MAJORITY VOTE OF THOSE PRESENT. FORM 990, PART VI, SECTION A, LINE 7B THE INCORPORATION MAY BE AMENDED ONLY UPON THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS PRESENT AT A REGULAR OR SPECIAL MEETING OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS PASSED A MOTION TO HAVE THE BOARD CHAIRMAN REVIEW AND APPROVE THE 990 PRIOR TO BEING SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.