2024-11-11T17:18:16-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 1785 INDIAN WOOD CIRCLE MAUMEE OH 43537 990 2023-01-01 451480958 TOLEDO HOUSING CORPORATION TOLE 4192463777 PO BOX 4550 TOLEDO OH 436100550 DOUGLAS A WILKINS KATHIE CROWLEY 4192463777 2024-11-11 1 1 JESSICA RITTER CPA P03098260 4197942000 2024-11-11 2023 2024-10-15 13:58:12Z DOUGLAS A WILKINS PO BOX 4550 TOLEDO OH 436100550 83034 0 X HTTPS://TOLEDOHOUSINGCORP.COM X 2011 OH TOLEDO HOUSING CORPORATION WAS FORMED IS TO PROVIDE AFFORDABLE HOUSING TO ELDERLY AND LOW-INCOME FAMILIES IN THE TOLEDO, OHIO, AREA. 3 3 0 0 0 0 58183 0 89101 83034 172535 0 0 0 319819 83034 0 0 0 0 0 0 0 0 0 133284 19732 133284 19732 186535 63302 11553369 15206671 1848296 5438296 9705073 9768375 X TOLEDO HOUSING CORPORATION WAS FORMED TO PROVIDE AFFORDABLE HOUSING TO ELDERLY AND LOW INCOME FAMILIES IN THE TOLEDO, OH AREA. 1 0 14071 83037 TOLEDO HOUSING CORPORATION WAS FORMED TO PROVIDE AFFORDABLE HOUSING TO ELDERLY AND LOW INCOME FAMILIES IN THE TOLEDO, OH AREA. 14071 1 0 0 0 0 0 0 0 0 0 1 1 0 0 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 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X DOUGLAS WILKINS CO TOLEDO HOUSING 4192463777 PO BOX 4550 TOLEDO OH 43610 X DOUGLAS WILKINS PRESIDENT 1.00 1.00 X X 0 0 0 MICHAEL O'NEILL VICE PRESIDENT 1.00 1.00 X X 0 0 0 STACEY FINEBERG SECRETARY 1.00 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 PROJECT OPERATIONS 531110 83034 83034 83034 83034 83034 0 0 131 131 3150 3150 2380 2380 2311 2311 CONTRACTS & SUPPLIES 5425 5425 COMPUTER & IT EXPENSES 4370 4370 REAL ESTATE TAXES 1965 1965 19732 14071 5661 0 2707320 2258467 28490 184775 3780 3780 102955 6932 98333 96023 8163733 11738989 551713 924637 11553369 15206671 1795479 1585479 221 221 3800000 52596 52596 1848296 5438296 X 0 0 0 0 9705073 9768375 9705073 9768375 11553369 15206671 63302 0 X 1 X 0 0 0 X 0 0 158637 58183 0 216820 158637 58183 216820 216820 173037 170441 165211 172535 0 681224 898044 202610 0.24140 0.29520 X THE TOLEDO HOUSING CORPORATION WAS FOUNDED IN 2011 TO PROVIDE AFFORDABLE HOUSING TO ELDERLY AND LOW INCOME INDIVIDUALS. THE ORGANIZATION HAS BEEN UNDERGOING CHANGES AND OVER THE PAST 2 YEARS. IN 2021 THC TOOK OWNERSHIP OF TURNER PROPERTIES, AN 8-UNIT PROJECT BASED SECTION 8 PROPERTY. IN DECEMBER OF 2023, THC PURCHASED THE LIMITED PARTNERSHIP INTEREST IN VISTULA HERITAGE VILLAGE II, A 165-UNIT SCATTERED SITE LOW-INCOME HOUSING TAX CREDIT PROJECT IN NORTH TOLEDO. THC IS CURRENTLY PURSUING A 4% BOND LIHTC DEVELOPMENT TRANSACTION INVOLVING THE SUBSTANTIAL REHAB OF 191-UNITS, 36 SCATTERED SITE PROJECTS IN AND AROUND TOLEDO'S DOWNTOWN. THE PROPOSED TRANSACTION INVOLVES THREE EXISTING, FEDERALLY ASSISTED PROJECTS; VISTULA HERITAGE VILLAGE (165 UNITS; SOUTH TOLEDO HOMES (18 UNITS); AND TURNER PROPERTIES (8 UNITS). THC WILL BE THE DEVELOPER ON THIS RENOVATION PROJECT. THEIR WILL FEDERAL HISTORIC TAX CREDITS DOLLARS HAVE BEEN APPROVED AND ARE PART OF THE PROPOSED TRANSACTION. ADDITIONALLY, THC IS PURSUING POSSIBLE ENERGY GRANTS AT THE FEDERAL, STATE AND LOCAL LEVELS. TO DATE, THC HAS FUNDED THE UPFRONT COSTS ASSOCIATED WITH PUTTING THIS APPLICATION TOGETHER. THE MAJORITY OF THESE DOLLARS WILL BE RETURNED TO THC WHEN THE DEAL CLOSES. WE HAVE 3 BOARD MEMBERS. THEY REPRESENT BUSINESS, LEGAL AND REAL ESTATE .PUTTING THIS LIHTC BOND APPLICATION HAS TAKEN SIGNIFICANT TIME AND LEADERSHIP FOCUS FROM OUR ALL-VOLUNTEER BOARD. AS WE REFOCUS ON OUR ORIGINAL MISSION, WE ARE BROADENING OUR SOURCES OF SUPPORT INCLUDING BOARD CONTRIBUTIONS, COMMUNITY/FOUNDATION DONATIONS, AND OTHER GRANTS. 10525 10525 92430 6932 85498 96023 INVESTMENT IN THC-NHV, LLC 4730452 C OTHER RESERVES 1009537 C RESERVE REPLACEMENT FUND -200000 C MORTGAGE RECEIVABLE 6199000 C 11738989 OTHER ASSETS 924637 924637 ADVANCES 47142 ACCRUED WAGES PAYABLE 271 ACCRUED PAYROLL TAXES PAYABLE 27 ACCRUED PROPERTY TAXES 3606 TENANT SECURITY DEPOSITS 1550 52596 FORM 990, PART III, LINE 2 ORGANIZATION ACQUIRED THE LIMITED PARTNER INTEREST IN VISTULA HERITAGE VILLAGE II, A 165-UNIT PROJECT BASED SECTION 8 PROPERTY AND BEGAN WORKING ON PUTTING TOGETHER A 4% LIHTC BOND DEAL TO REFINANCE THE PROPERTY. FORM 990, PART VI, SECTION A, LINE 2 DOUGLAS WILKINS, PRESIDENT IS THE FATHER OF STACEY FINEBERG, SECRETARY FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING FIRM SENDS A DRAFT OF THE RETURN TO TOLEDO HOUSING CORPORATION. THE CORPORATION FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B) HAS READ AND UNDERSTANDS THE POLICY, C) HAS AGREED TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. 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. 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