2024-11-07T14:40:24-06:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 205386019 MARION PROJECT III INC MARI 4029798149 2840 S 123RD COURT OMAHA NE 68144 DICK DEARINGER PRESIDENT 4029798149 2024-11-07 1 0 EKATERINA GWYN P01333750 3178485700 2023 2024-10-15 13:58:12Z DICK DEARINGER 2840 S 123RD COURT OMAHA NE 68144 269377 0 X N/A X 2006 IA MARION PROJECT III, INC. (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED UNDER THE NOT-FOR-PROFIT STATUTES OF THE STATE OF IOWA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF CONSTRUCTING, OWNING AND OPERATING A 40 UNIT COMMUNITY KNOWN AS TRINITY POINTE (THE "COMMUNITY") LOCATED IN MARION, IOWA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.THE CORPORATION ENTERED INTO A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WHICH CONTAINS, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFERRING ANY OF THE COMMUNITY'S PROPERTY, ASSIGNING THE RIGHTS TO MANAGE OR RECEIVE THE RENTS AND PROFITS OF THE PROPERTY OR ASSUMING ADDITIONAL INDEBTEDNESS. PURSUANT TO THE REGULATORY AGREEMENT, THE COMMUNITY MUST MAINTAIN 39 OF ITS 40 UNITS AS AFFORDABLE TO LOW INCOME ELDERLY PERSONS. THE COMMUNITY IS OBLIGATED TO RECERTIFY RESIDENT ELIGIBILITY ON AN ANNUAL BASIS. 7 7 0 7 0 0 71760 77825 171772 186135 608 950 2736 4467 246876 269377 0 0 0 0 0 0 0 0 0 395827 382693 395827 382693 -148951 -113316 2994352 2853051 101398 43334 2892954 2809717 X MARION PROJECT III, INC. (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED UNDER THE NOT-FOR-PROFIT STATUTES OF THE STATE OF IOWA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF CONSTRUCTING, OWNING AND OPERATING A 40 UNIT COMMUNITY KNOWN AS TRINITY POINTE (THE "COMMUNITY") LOCATED IN MARION, IOWA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.THE CORPORATION ENTERED INTO A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WHICH CONTAINS, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFERRING ANY OF THE COMMUNITY'S PROPERTY, ASSIGNING THE RIGHTS TO MANAGE OR RECEIVE THE RENTS AND PROFITS OF THE PROPERTY OR ASSUMING ADDITIONAL INDEBTEDNESS. PURSUANT TO THE REGULATORY AGREEMENT, THE COMMUNITY MUST MAINTAIN 39 OF ITS 40 UNITS AS AFFORDABLE TO LOW INCOME ELDERLY PERSONS. THE COMMUNITY IS OBLIGATED TO RECERTIFY RESIDENT ELIGIBILITY ON AN ANNUAL BASIS. 0 0 336826 186135 MARION PROJECT III, INC. (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED UNDER THE NOT-FOR-PROFIT STATUTES OF THE STATE OF IOWA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF CONSTRUCTING, OWNING AND OPERATING A 40 UNIT COMMUNITY KNOWN AS TRINITY POINTE (THE "COMMUNITY") LOCATED IN MARION, IOWA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.THE CORPORATION ENTERED INTO A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WHICH CONTAINS, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFERRING ANY OF THE COMMUNITY'S PROPERTY, ASSIGNING THE RIGHTS TO MANAGE OR RECEIVE THE RENTS AND PROFITS OF THE PROPERTY OR ASSUMING ADDITIONAL INDEBTEDNESS. PURSUANT TO THE REGULATORY AGREEMENT, THE COMMUNITY MUST MAINTAIN 39 OF ITS 40 UNITS AS AFFORDABLE TO LOW INCOME ELDERLY PERSONS. THE COMMUNITY IS OBLIGATED TO RECERTIFY RESIDENT ELIGIBILITY ON AN ANNUAL BASIS. 336826 1 1 0 0 0 0 0 0 0 0 1 0 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 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X SELDIN COMPANY 4029798149 2840 S 123RD COURT OMAHA NE 68144 X DICK DEARINGER PRESIDENT 2.00 0.00 X X 0 0 0 SCOTT DRAPER VICE PRESIDENT 2.00 0.00 X X 0 0 0 TAMMY DANOVER TREASURER 2.00 0.00 X X 0 0 0 LINDA DEARINGER SECRETARY 2.00 0.00 X X 0 0 0 KATHLEEN LAMMERS DIRECTOR 0.50 0.00 X 0 0 0 KEN STANFORD DIRECTOR 0.50 0.00 X 0 0 0 DICK GRIMM DIRECTOR 0.50 0.00 X 0 0 0 0 0 0 0 0 0 0 0 77825 77825 RENTAL INCOME 531110 186135 186135 186135 950 950 LAUNDRY & VENDING 531110 4467 4467 4467 269377 186135 0 5417 19170 19170 16511 16511 1253 1253 16389 10721 5668 121810 121810 3730 3730 128117 128117 16066 15278 788 MANAGEMENT COMPANY EMPL 58498 58498 SERVICE COORDINATOR EXP 1149 1149 382693 336826 45867 0 8987 16741 4324 122 2099 3183 4366758 1666402 2828476 2700356 134250 115707 16216 16942 2994352 2853051 46734 23341 1745 2108 52919 17885 101398 43334 X -1085346 -1168583 3978300 3978300 2892954 2809717 2994352 2853051 X -113316 30079 X 0 1 X 0 1 1 X 391284 166208 62057 71760 77825 769134 391284 166208 62057 71760 77825 769134 228383 540751 1380 1397 856 608 950 5191 56531 2736 4467 63734 838059 727402 0.64520 0.71750 X SCHEDULE A, PART II, LINE 10: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. 2021 MISCELLANEOUS INCOME ALSO INCLUDES INSURANCE PROCEEDS RECEIVED TO RESTORE AND REPAIR DAMAGED PROPERTY DUE TO A CASUALTY EVENT IN 2020. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75000 75000 4145046 1574616 2570430 8813 8813 0 137899 82973 54926 2700356 ACCRUED MGMT FEE PAYABLE 888 MISC. CURRENT LIABILITIES 270 SECURITY DEPOSITS 16727 17885 X 299456 30079 30079 269377 0 269377 381052 0 381052 1641 1641 382693 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAAP ONLY REVENUE (RESIDUAL RECEIPTS RECAPTURE) 30,079. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DIFFERENCE IN DEPRECIATION 1,641. FORM 990, PART VI, SECTION A, LINE 2 LINDA DEARINGER, THE SECRETARY OF THE ORGANIZATION, IS THE SPOUSE OF DICK DEARINGER, THE PRESIDENT OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 MARION PROJECT III, INC. UTILIZES SELDIN MANAGEMENT COMPANY TO PROVIDE ALL OF THE DAY-TO-DAY SERVICES AND OTHER ADMINISTRATIVE SERVICES OF THE FACILITY. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE INDEPENDENT ACCOUNTANT FORWARDS A DRAFT OF FORM 990 TO THE MANAGEMENT COMPANY, WHICH IN TURN DISPERSES A COMPLETE COPY OF THE 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. UPON BOARD APPROVAL, THE BOARD PRESIDENT NOTIFIES THE MANAGEMENT COMPANY TO COMMUNICATE APPROVAL TO THE OUTSIDE ACCOUNTANT, WHICH ISSUES A FINAL RETURN FOR THE BOARD PRESIDENT TO SIGN AND FILE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AT THE FIRST BOARD MEETING OF THE YEAR. THE BOARD READS THE POLICY AND MAKES ANY NECESSARY CHANGES. NEW DIRECTORS ARE ELECTED AT THE FIRST MEETING OF THE YEAR AND, THUS ARE INCLUDED IN ON THE ANNUAL REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES ITS POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: GAAP ONLY REVENUE (RESIDUAL RECEIPTS RECAPTURE) 30,079. MARION SENIOR LIVING INC 2840 S 123RD COURT OMAHA NE 68144 311586739 RENTAL REAL ESTATE IA 501(C)(3) LINE 7 N/A 0 MARION SENIOR LIVING COMMUNITY PO BOX 572 MARION IA 52302 421427156 RENTAL REAL ESTATE IA 501(C)(3) LINE 7 N/A 0 SCOTT MEADOWS SENIOR HOUSING LIMITED 2840 S 123RD COURT OMAHA NE 68144 421526674 RENTAL REAL ESTATE IA N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0