2024-10-23T11:08:31-05:00 2023-12-31 221478099 COHNREZNICK LLP 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2023-01-01 841480560 ROCKY MOUNTAIN MUTUAL HOUSING ASSOCIATION INC ROCK 3038638651 225 EAST 16TH AVENUE 600 DENVER CO 80203 SU CHAE VP OF FINANCE 3038638651 2024-10-10 1 0 LORI ROTHE YOKOBOSKY CPA P01273422 4107834900 2023 2024-10-15 13:58:12Z SU CHAE 225 EAST 16TH AVENUE 600 DENVER CO 80203 17498353 1 1 7213 X WWW.ROCKYMOUNTAINCOMMUNITIES.ORG X 1992 CO ROCKY MOUNTAIN COMMUNITIES MISSION IS TO BUILD BRIGHTER FUTURES BY INVESTING IN RESIDENT FOCUSED AFFORDABLE HOUSING AND SERVICES, EMPOWERING INDIVIDUALS AND FAMILIES TO THRIVE. 10 10 101 10 0 0 606149 695068 16472001 16343659 273414 410082 22545 49544 17374109 17498353 0 0 0 0 3960883 4650840 0 0 0 15444175 16246162 19405058 20897002 -2030949 -3398649 103404785 140995996 96354719 134850344 7050066 6145652 ROCKY MOUNTAIN COMMUNITIES MISSION IS TO BUILD BRIGHTER FUTURES BY INVESTING IN RESIDENT FOCUSED AFFORDABLE HOUSING AND SERVICES, EMPOWERING INDIVIDUALS AND FAMILIES TO THRIVE. 0 0 19358135 16393203 ROCKY MOUTAIN COMMUNITIES MANAGED AND OPERATED EIGHT INCOME RESTRICTED PROPERTIES. PROGRAMS AND SERVICES WERE PROVIDED AT FOUR PROPERTIES; INCLUDING SUMMER ENRICHMENT AND AFTERSCHOOL PROGRAMS AND PROGRAMS FOR SENIOR RESIDENTS. 19358135 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 101 0 1 101 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CO X SU CHAE 7203059806 225 EAST 16TH AVENUE NO 600 DENVER CO 80203 ANGEL HURTADO VICE CHAIR 1.00 1.00 X X 0 0 0 GREG LITVAK CHAIR 1.00 1.00 X X 0 0 0 TOM KONKEL SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 ROBERT WATTS DIRECTOR 1.00 1.00 X 0 0 0 MAX SEGALL DIRECTOR 1.00 1.00 X 0 0 0 LAUREN BERNSTEIN DIRECTOR 1.00 1.00 X 0 0 0 KATINA RYAN DIRECTOR 1.00 1.00 X 0 0 0 JENNIFER VAGHER DIRECTOR 1.00 1.00 X 0 0 0 ERIC NESBITT DIRECTOR 1.00 1.00 X 0 0 0 JUNE WALLER DIRECTOR 1.00 1.00 X 0 0 0 MARK MARSHALL CEO 40.00 1.00 X 175044 0 21228 DONTAE LATSON OUTGOING CEO 40.00 1.00 X 195006 0 17112 CHRIS FURLONG DEVELOPMENT MANAGER 40.00 1.00 X 100999 0 8652 GARRETT SLOTER SR. ASSET MANAGER 40.00 1.00 X 112306 0 10162 JUANITA RODRIGUEZ VP OF RESIDENT SERVICES 40.00 1.00 X 105234 0 10201 CLAUDINA HRUBY CONTROLLER 40.00 1.00 X 100871 0 5709 KARRIE SIMMONS OUTGOING VP OF FINANCE 40.00 1.00 X 179966 0 22116 969426 0 95180 7 0 1 0 0 695068 8450 695068 RENTAL INCOME 532000 15945952 15945952 DEVELOPER FEE REVENUE 532000 282684 282684 PROPERTY MANAGEMENT FEES 532000 115023 115023 16343659 410082 410082 49544 49544 49544 17498353 16393203 0 410082 408390 324795 83595 3766315 2995376 770939 175700 139735 35965 300435 238938 61497 49101 49101 390127 274605 115522 58663 48324 10339 3479204 3467954 11250 4253678 4245799 7879 760802 720846 39956 OPERATING AND MAINTENAN 2810756 2799976 10780 UTILITIES 1484430 1484430 ADMINISTRATIVE EXPENSES 991810 793633 198177 DEVELOPER FEE EXPENSE 684149 684149 1283442 1090474 192968 20897002 19358135 1538867 0 2628041 3697378 826416 620841 97875 426370 151551838 34372142 81420137 117179696 10987522 9401228 289385 272185 131806 222977 7023603 9175321 103404785 140995996 5601851 1803978 69904026 106141856 20848842 26904510 96354719 134850344 X 6951101 6120280 98965 25372 7050066 6145652 103404785 140995996 X -3398649 483422 2010813 X 0 1 X 1 1 1 X 380621 622589 599248 607964 695068 2905490 13114480 12856905 14112389 16472001 16343659 72899434 13495101 13479494 14711637 17079965 17038727 75804924 0 0 0 75804924 429199 137240 20744 273414 410082 1270679 429199 137240 20744 273414 410082 1270679 44502 10168 586394 22545 49544 713153 13968802 13626902 15318775 17375924 17498353 77788756 0.97450 0.97610 0.01630 0.01430 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER - 2019 AMOUNT: $ 44,502. 2020 AMOUNT: $ 10,168. 2021 AMOUNT: $ 586,394. 2022 AMOUNT: $ 22,545. 2023 AMOUNT: $ 49,544. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12303919 12303919 132423358 31924345 100499013 6824561 2447797 4376764 117179696 TAX AND INSURANCE ESCROW 2342554 TENANT SECURITY DEPOSITS 512912 REPLACEMENT RESERVES 5467693 PRE-DEVELOPMENT COSTS 653302 RIGHT OF USE ASSET 198860 9175321 ACCRUED INTEREST 637772 SECURITY DEPOSIT 507715 PREPAID RENTS 258216 DEVELOPMENT FEE PAYABLE 923335 NON CONTROLLING INTEREST IN LIMITED PARTNERSHIPS 24373246 LONG-TERM LEASE LIABILITY 204226 26904510 X PART X, LINE 2: RMC AND ITS CONSOLIDATED NONPROFIT CORPORATIONS ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE STATUTES. RMC DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. ALL NONPROFIT CORPORATIONS ARE REQUIRED TO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THERE ARE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. CERTAIN SUBSIDIARIES OF THE COMPANY ARE DISREGARDED ENTITIES FOR INCOME TAX PURPOSES AND DO NOT FILE AN INCOME TAX RETURN. TAXABLE INCOME OR LOSS PASSES THROUGH TO THE SOLE MEMBER TO BE REPORTED ON ITS TAX RETURN. THESE SUBSIDIARIES DO NOT TAKE ANY TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. THE LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES IN WHICH THE ORGANIZATION HAS AN OWNERSHIP INTEREST HAVE ELECTED TO BE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES AND, AS SUCH, ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND ARE REPORTED BY ITS OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THE PARTNERSHIPS' FEDERAL TAX STATUSES ARE BASED ON THEIR LEGAL STATUS AS A PARTNERSHIP. ACCORDINGLY, THE PARTNERSHIPS ARE NOT REQUIRED TO TAKE ANY TAX POSITIONS IN ORDER TO QUALIFY AS A PASS-THROUGH ENTITY. THE PARTNERSHIPS ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE PARTNERSHIPS HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. INCOME TAX RETURNS FILED BY THE ENTITIES ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2020 REMAIN OPEN. 1 X X 1 0 0 0 0 0 0 0 0 DONTAE LATSON OUTGOING CEO 107503 0 0 0 87503 0 8254 0 8858 0 212118 0 0 0 KARRIE SIMMONS OUTGOING VP OF FINANCE 179966 0 0 0 0 0 11133 0 10983 0 202082 0 0 0 MARK MARSHALL CEO 175044 0 0 0 0 0 7097 0 14131 0 196272 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE OF ROCKY MOUNTAIN MUTUAL HOUSING ASSOCIATION, INC. REVIEWS THE PERFORMANCE OF THE PRESIDENT/CEO, CONSIDERS COMPENSATION SURVEYS FROM SIMILAR ORGANIZATIONS AND THEN AGREES ON THE COMPENSATION FOR THE PRESIDENT/CEO. SCH J; PART I, LINE 4A THE FORMER CEO, DANTAE LATSON, RECEIVED SEVERANCE IN THE AMOUNT OF 87,503. FORM 990, PART VI, SECTION B, LINE 11B THE PROPERTY AND FINANCE COMMITTEE REVIEWS THE RETURN IN DETAIL. ONCE APPROVED, THE RETURN IS THEN REVIEWED AND APPROVED BY THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT AND CEO, REVIEWS SALARY SURVEYS FROM ENTITIES SUCH AS THE COLORADO NONPROFIT ASSOCIATION AND THE APARTMENT ASSOCIATION OF METRO DENVER. BASED ON THE VARIOUS ITEMS, THE COMMITTEE THEN AGREES ON THE ANNUAL SALARY. THE SALARIES OF OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION ARE AT THE DISCRETION OF THE PRESIDENT AND CEO, PROVIDED TOTAL COMPENSATION IS WITHIN THE BOARD APPROVED BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NONCONTROLLING NET ASSETS WITHOUT DONOR RESTRICTIONS 2,010,813. 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