2024-10-16T10:21:43-05:00 2023-12-31 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2023-01-01 042761797 LEBANESE COMMUNITY HOUSING FOR THE ELDERLY INC LEBA 9786818845 222 PELHAM STREET METHUEN MA 01844 CHRISTINE TOUMA-CONWAY PRESIDENT 9786818845 2024-10-16 1 1 JOLANTA TUCK CPA P01340068 7813803520 2024-10-03 2023 2024-10-15 13:58:12Z CHRISTINE TOUMA-CONWAY 222 PELHAM STREET METHUEN MA 01844 920268 0 X N/A X 1981 MA TO PROVIDE HOUSING TO LOW-INCOME ELDERLY & HANDICAPPED INDIVIDUALS. 9 8 0 0 0 0 703022 706160 174328 191704 6421 20210 3528 2194 887299 920268 0 0 0 0 0 0 0 0 0 895067 932464 895067 932464 -7768 -12196 945115 931966 2388197 2387244 -1443082 -1455278 TO PROVIDE HOUSING TO LOW-INCOME ELDERLY & HANDICAPPED INDIVIDUALS. 0 0 856158 193898 40 APARTMENT UNITS RENTED TO LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS (APPROX 50 CLIENTS SERVED). 856158 1 1 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 1 0 0 0 0 0 1 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 MA X DAVID BESHARA 9786818845 222 PELHAM STREET METHUEN MA 01844 X CHRISTINE TOUMA-CONWAY PRESIDENT 5.00 5.00 X X 0 0 0 DAVID BESHARA TREASURER 5.00 5.00 X X 0 0 0 PAUL BOSHAR CLERK 1.00 1.00 X X 0 0 0 ROBERT HAFFTY DIRECTOR 1.00 1.00 X 0 0 0 STEVEN KFOURY DIRECTOR 1.00 1.00 X 0 0 0 MATTHEW KRAUNELIS DIRECTOR 1.00 1.00 X 0 0 0 CYNTHIA MAROON DIRECTOR 1.00 1.00 X 0 0 0 CAROL MCGRAVEY DIRECTOR 1.00 1.00 X 0 0 0 KATHLEEN COREY RAHME DIRECTOR 1.00 1.00 X 0 0 0 0 0 0 0 0 0 0 BARKAN MANAGEMENT COMPANY 7 WELLS AVENUE NEWTON MA 02459 MANAGEMENT FEE AND SERVICES 330219 1 706160 706160 LOW INCOME RENTAL REVE 531310 191704 191704 191704 20210 20210 LAUNDRY AND VENDING 812300 768 768 1426 1426 2194 920268 193898 0 20210 X 43645 43645 8611 8611 24050 24050 281174 281174 26966 26966 483684 483684 62207 62207 BAD DEBTS EXPENSE 2127 2127 932464 856158 76306 0 13166 19204 7343 533 12599 10442 3441089 3003594 489322 437495 422685 464292 945115 931966 111098 137139 26 1854 14078 13759 2262995 2234492 2388197 2387244 X -1443082 -1455278 -1443082 -1455278 945115 931966 -12196 0 X 0 1 X 1 1 1 X 645139 659446 692576 703022 706160 3406343 645139 659446 692576 703022 706160 3406343 3406343 8298 3406 451 6421 20210 38786 3466 3037 10723 3528 2194 22948 3468077 851007 0.98220 0.98560 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 2,769. 2020 AMOUNT: $ 2,495. 2021 AMOUNT: $ 10,470. 2022 AMOUNT: $ 2,902. 2023 AMOUNT: $ 1,426. LAUNDRY AND VENDING INCOME - 2019 AMOUNT: $ 697. 2020 AMOUNT: $ 542. 2021 AMOUNT: $ 253. 2022 AMOUNT: $ 626. 2023 AMOUNT: $ 768. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 3406986 2969830 437156 34103 33764 339 437495 TENANT DEPOSITS - HELD IN TRUST 15177 REPLACEMENT RESERVE 325031 RESIDUAL RECEIPTS 10182 ESCROW DEPOSITS 113902 464292 X 920268 0 920268 0 920268 932464 0 932464 0 932464 PART IV, LINE 2B: TENANT SECURITY DEPOSITS OF $13,759 PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. PF BOSHAR COMPANY IS OWNED BY AN OFFICER OF THE ORGANIZATION 15965 PURCHASE OF GOODS/SERVICES 0 FORM 990, PART VI, SECTION A, LINE 3 THE PROPERTY IS MANAGED BY BARKAN MANAGEMENT COMPANY INC. PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD AND MASSHOUSING. THE CURRENT MANAGEMENT AGREEMENT PROVIDES FOR A MANAGEMENT FEE OF 4.74% OF EFFECTIVE RENTAL INCOME. DURING THE YEAR ENDED DECEMBER 31, 2023, THE CORPORATION INCURRED MANAGEMENT FEES OF $43,645. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD AND DISCUSSED AT AN ANNUAL CLOSING CONFERENCE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO UPDATE AND SIGN THE CONFLICT OF INTEREST CONTRACTS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST AT THE ENTITY'S OFFICES IN METHUEN, MASSACHUSETTS. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 281,174. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 281,174. FRIENDS OF CEDARS HOME FOR THE ELDERLY INC 222 PELHAM STREET METHUEN MA 01844 043044710 CARE, HOUSING MA 501(C)(3) LINE 7 N/A 1 CEDARS ELDERLY HOME INC 222 PELHAM STREET METHUEN MA 01844 260057247 PROVIDE HOUSING TO LOW-INCOME ELDERLY & HANDICAPPED INDIVIDUALS MA 501(C)(3) LINE 7 N/A 1 THE CEDARS HOME COMMUNITIES INC 222 PELHAM STREET METHUEN MA 01844 300532522 TITLE HOLDING COMPANY MA 501(C)(2) N/A 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0