2024-06-05T10:20:23-05:00 2023-07-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2022-08-01 561053910 SANDY RUN MISSIONARY BAPTIST CHURCH APTS SAND 3367650424 200 COLEMAN DRIVE JACKSONVILLE NC 28546 JACOB EVANS PRESIDENT 3367650424 2024-06-04 1 JACOB EVANS XXX-XX-XXXX 0 JACOB A SOWERS P01712829 3178485700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JACOB EVANS 200 COLEMAN DRIVE JACKSONVILLE NC 28546 1999631 0 X N/A X 1974 NC SANDY RUN MISSIONARY BAPTIST CHURCH APARTMENTS I, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF NORTH CAROLINA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF REHABILITATING AND OPERATING A 152 UNIT COMMUNITY KNOWN AS SANDY RUN APARTMENTS IN JACKSONVILLE, NORTH CAROLINA, WHICH PROVIDES HOUSING FOR INDIVIDUALS WITH LOW AND MODERATE INCOME, PURSUANT TO SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE COMMUNITY IS FINANCED UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO A REGULATORY AGREEMENT GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION LEASES APARTMENT UNITS TO LOW INCOME FAMILIES (OR PERSONS) IN THE NORMAL COURSE OF BUSINESS. THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT WITH HUD. THE CONTRACT IS A SECTION 8 RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. 8 8 0 0 0 0 748349 1279460 497128 596135 197 1810 33505 122226 1279179 1999631 0 0 0 0 0 0 0 0 0 1354019 1634709 1354019 1634709 -74840 364922 6621339 6273079 8140482 7427300 -1519143 -1154221 X SANDY RUN MISSIONARY BAPTIST CHURCH APARTMENTS I, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF NORTH CAROLINA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF REHABILITATING AND OPERATING A 152 UNIT COMMUNITY KNOWN AS SANDY RUN APARTMENTS IN JACKSONVILLE, NORTH CAROLINA, WHICH PROVIDES HOUSING FOR INDIVIDUALS WITH LOW AND MODERATE INCOME, PURSUANT TO SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE COMMUNITY IS FINANCED UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO A REGULATORY AGREEMENT GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION LEASES APARTMENT UNITS TO LOW INCOME FAMILIES (OR PERSONS) IN THE NORMAL COURSE OF BUSINESS. THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT WITH HUD. THE CONTRACT IS A SECTION 8 RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. 0 0 1324853 596135 SANDY RUN MISSIONARY BAPTIST CHURCH APARTMENTS I, INC. (THE CORPORATION) IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF NORTH CAROLINA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF REHABILITATING AND OPERATING A 152 UNIT COMMUNITY KNOWN AS SANDY RUN APARTMENTS LOCATED IN JACKSONVILLE, NORTH CAROLINA, WHICH PROVIDES HOUSING FOR INDIVIDUALS WITH LOW AND MODERATE INCOME, PURSUANT TO SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE COMMUNITY IS FINANCED UNDER SECTION 221(D)(3), PURSUANT TO SECTION 223(A)(7) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO A REGULATORY AGREEMENT GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION LEASES APARTMENT UNITS TO LOW INCOME FAMILIES (OR PERSONS) IN THE NORMAL COURSE OF BUSINESS. THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, AS AMENDED. 1324853 1 1 0 0 0 0 0 0 0 0 1 0 1 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 0 0 0 0 1 10 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 X LAURA GRIMES 3367650424 PO BOX 25168 WINSTONSALEM NC 271445168 X X JACOB EVANS PRESIDENT 5.00 X X 0 0 0 TYRONE MAXWELL VICE PRESIDENT 5.00 X X 0 0 0 JOSELYN HILLMON SECRETARY 5.00 X X 0 0 0 BRIAN JACKSON DIRECTOR 5.00 X 0 0 0 DARRYL ROBERSON DIRECTOR 5.00 X 0 0 0 GREGORY O HUMPHREY DIRECTOR 5.00 X 0 0 0 HOLLY SYLVAIN DIRECTOR 5.00 X 0 0 0 PRECIOUS BORDEN DIRECTOR 5.00 X 0 0 0 0 0 0 0 0 0 0 0 1279460 1279460 RENTAL INCOME 531110 596135 596135 596135 1810 1810 RECAPTURE OF RESIDUAL 531110 49907 49907 TENANT CHARGES 531110 42297 42297 INSURANCE CLAIM PROCEE 531110 19956 19956 10066 10066 122226 1999631 596135 0 124036 109032 109032 8313 8313 5750 5750 60 60 21189 21189 635 635 1032258 1032258 9201 9201 700 700 255949 255949 MTG CO EMPLOYEE CHARGEB 154976 154976 BAD DEBTS 36646 36646 1634709 1324853 309856 0 98648 203418 39963 49053 136779 22165 9286831 3774511 5747369 5512320 505672 393582 42159 40781 50749 51760 6621339 6273079 971762 382148 3453 3542 7114853 6989856 50414 51754 8140482 7427300 X -1519143 -1154221 -1519143 -1154221 6621339 6273079 364922 0 X X 0 1 X 1 1 1 X 660505 567489 480787 748349 1279460 3736590 660505 567489 480787 748349 1279460 3736590 3736590 1401 3837 1548 197 1810 8793 26745 88116 17424 33505 122226 288016 4033399 2662625 0.92640 0.93810 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 126757 126757 7777782 2551227 5226555 806926 791164 15762 575366 432120 143246 5512320 MORTGAGE ESCROW DEPOSITS 166606 C RESERVE REPLACEMENT FUND 168377 C RESIDUAL RECEIPTS 58599 C 393582 SECURITY DEPOSITS 51754 51754 X 1999631 0 1999631 0 1999631 1625368 0 1625368 9341 9341 1634709 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 XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION ADJUSTMENT 9,341. FORM 990, PART VI, SECTION A, LINE 3 SANDY RUN MISSIONARY BAPTIST CHURCH APARTMENTS I, INC IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANAGEMENT CORPORATION HAS A PROJECT OWNER'S & MANAGEMENT CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION HUD HAS APROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE BULLOCK MCLEOD HOUSING COMPLEX. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION ARE TO BE LIMITED TO INDIVIDUALS WHO ARE EITHER TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH OR MEMBERS OF SANDY RUN MISSIONARY BAPTIST CHURCH AND WHO HAVE THE APPROVAL OF THE BOARD OF TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CORPORATION ARE TO BE LIMITED TO INDIVIDUALS WHO ARE EITHER TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH OR MEMBERS OF SANDY RUN MISSIONARY BAPTIST CHURCH AND WHO HAVE THE APPROVAL OF THE BOARD OF TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH. IF A MEMBER OF THE CORPORATION CEASES TO BE A TRUSTEE OF SANDY RUN MISSIONARY BAPTIST CHURCH OR MEMBER OF SANDY RUN MISSIONARY BAPTIST CHURCH, OF IF APPROVAL IS WITHDRAWN THEN IN EITHER EVEN SUCH SHALL CONSTITUTE AUTOMATIC RESIGNATION A MEMBER AND DIRECTOR OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CORPORATION ARE TO BE LIMITED TO INDIVIDUALS WHO ARE EITHER TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH OR MEMBERS OF SANDY RUN MISSIONARY BAPTIST CHURCH AND WHO HAVE THE APPROVAL OF THE BOARD OF TRUSTEES OF SANDY RUN MISSIONARY BAPTIST CHURCH. IF A MEMBER OF THE CORPORATION CEASES TO BE A TRUSTEE OF SANDY RUN MISSIONARY BAPTIST CHURCH OR MEMBER OF SANDY RUN MISSIONARY BAPTIST CHURCH, OF IF APPROVAL IS WITHDRAWN THEN IN EITHER EVEN SUCH SHALL CONSTITUTE AUTOMATIC RESIGNATION A MEMBER AND DIRECTOR OF THE CORPORATION. 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 THIER 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 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES THEIR POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. PART VII, SECTION A, LINE 1A, COLUMN B DESCRIPTION OF HOURS WORKED FOR RELATED ORGANIZATIONS: ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED. FORM 990, PAGE 12, PART XII, 2C OVERVIEW OF AUDIT FUNCTION: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM.