2024-04-26T09:06:33-05:00 2023-06-30 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2022-07-01 222966917 EASTHAMPTON HOUSING FOR THE ELDERLY INC EAST 8572218600 CO TCB INC 185 DARTMOUTH STREET BOSTON MA 02116 D MORGAN WILSON ASSISTANT TREASURER 8572218600 2024-04-25 1 D MORGAN WILSON 999009999 1 JOLANTA TUCK CPA P01340068 7813803520 2024-04-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHILLIP L CLAY C/O TCB INC 185 DARTMOUTH STREET BOSTON MA 02116 773843 0 X N/A X 1988 MA PROVIDE LOW-INCOME HOUSING FOR THE ELDERLY 1 1 0 0 0 0 492947 606393 181496 164105 31 242 2650 3103 677124 773843 0 0 0 0 0 0 0 0 0 728774 702233 728774 702233 -51650 71610 1293348 1370589 2083511 2089142 -790163 -718553 PROVIDE LOW-INCOME HOUSING FOR THE ELDERLY 0 0 652777 167208 PROVIDE ELDERLY PERSONS OF LOW AND VERY LOW INCOME WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR NEEDS. 652777 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 0 0 0 0 0 0 0 0 0 0 1 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 MA X D MORGAN WILSON 8572218600 185 DARTMOUTH ST BOSTON MA 02116 X PHILLIP L CLAY DIRECTOR 0.10 X 0 0 0 JAMES F RUSHFORD CLERK 0.10 X X 0 0 0 0 0 0 0 0 0 0 0 606393 606393 TENANT RENTS 531110 164105 164105 164105 242 242 LAUNDRY & VENDING REVE 812300 3103 3103 3103 773843 167208 0 242 X 34430 34430 6883 6883 15026 15026 87237 87237 25255 25255 407730 407730 1566 1566 80864 80864 RESIDENT SERVICES 43242 43242 702233 652777 49456 0 51774 102916 2057 1249 21555 3160228 2120040 1121052 1040188 118465 204681 1293348 1370589 57526 131990 75 821 12497 12568 2013413 1943763 2083511 2089142 X -790163 -718553 -790163 -718553 1293348 1370589 71610 0 X 0 1 X 1 1 1 X 507651 510029 523789 492947 606393 2640809 131816 137438 144809 181496 164105 759664 639467 647467 668598 674443 770498 3400473 0 0 0 3400473 25 25 32 31 242 355 25 25 32 31 242 355 1311 1860 1895 2650 3103 10819 640803 649352 670525 677124 773843 3411647 0.99670 0.99760 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 235185 235185 2845314 2040908 804406 52074 52074 0 27655 27058 597 1040188 TENANT DEPOSITS 12648 ESCROW DEPOSITS 32677 REPLACEMENT RESERVE 156545 RESIDUAL RECEIPTS RESERVE 2811 204681 X 773843 0 773843 0 773843 702233 0 702233 0 702233 PART IV, LINE 2B: THE CORPORATION HAS A POLICY TO COLLECT SECURITY DEPOSITS OF UP TO ONE MONTH'S RENT FROM TENANTS. THE SECURITY DEPOSITS CAN BE USED TO PAY FOR DAMAGES CAUSED BY THE TENANT OR USED AGAINST UNPAID RECEIVABLES. PART X, LINE 2: THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2023. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 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 2019 REMAIN OPEN. FORM 990, PART VI, SECTION A, LINE 3 THE COMMUNITY BUILDERS, INC. SERVES AS THE MANAGEMENT AGENT FOR THE PROJECT. THE MANAGEMENT FEE IS CALCULATED AS 4.50% OF THE GROSS COLLECTIONS COMPUTED MONTHLY. THE MANAGEMENT AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR THE MANAGEMENT AGENT. DURING THE YEAR ENDED JUNE 30, 2023, MANAGEMENT FEES OF $34,430 WERE INCURRED. FORM 990, PART VI, SECTION B, LINE 11B THE ASSET MANAGEMENT DEPARTMENT REVIEWS THE 990 BEFORE APPROVING THE RETURN. A COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL ITS GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS, AND FORM 990'S AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 87,237. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 87,237.