2024-11-14T17:07:16-06:00 2023-12-31 411647057 MAHONEY ULBRICH CHRISTIANSEN & RUSS PA 10 RIVER PARK PLAZA SUITE 800 SAINT PAUL MN 55107 990 2023-01-01 465478037 BOLD COMMUNITIES BOLD 6504641319 4915 GAMBIER STREET LOS ANGELES CA 90032 MICHAEL MILLER PRESIDENT 6504641319 2024-11-12 1 0 MARC A KOTSONAS P00544551 6512276695 2024-11-12 2023 2024-10-15 13:58:12Z MICHAEL MILLER 4915 GAMBIER STREET LOS ANGELES CA 90032 1374055 0 X WWW.BOLDCOMMUNITIES.ORG X 2014 CA TO FOSTER, SUPPORT, CONSTRUCT, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND/OR OPERATE AND PROVIDE QUALIFIED AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND FAMILIES, QUALIFIED HOUSING FOR MENTALLY AND PHYSICALLY CHALLENGED PERSONS, AND QUALIFIED HOUSING FOR ELDERLY PERSONS WITHIN THE UNITED STATES. 5 3 0 0 0 0 17000 125000 0 1246229 0 2826 0 0 17000 1374055 0 0 0 0 0 0 0 0 0 27985 199580 27985 199580 -10985 1174475 12376 1189101 0 2250 12376 1186851 X TO FOSTER, SUPPORT, CONSTRUCT, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND/OR OPERATE AND PROVIDE QUALIFIED AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND FAMILIES, QUALIFIED HOUSING FOR MENTALLY AND PHYSICALLY CHALLENGED PERSONS, AND QUALIFIED HOUSING FOR ELDERLY PERSONS WITHIN THE UNITED STATES. 0 0 34535 1246229 ACQUIRED AND REONVATED A 61-UNIT MULTIFAMILY APARTMENT PROPERTY LOCATED IN LOS ANGELES COUNTY, CALIFORNIA, AT-RISK OF LOSING ITS IN-PLACE AFFORDABILITY RESTRICTIONS. UTILIZED 4% FEDERAL LOW INCOME HOUSING TAX CREDITS, STATE TAX CREDITS, TAX-EXEMPT BONDS AND A RENEWED SECTION 8 PROJECT BAED RENTAL ASSISTANCE CONTRACT TO FUND THE REHABILITATION. TOTAL PROJECT DEVELOPMENT COST, INCLUDING ACQUISITION, WAS APPROXIMATELY $57 MILLION DOLLARS. THE BUILDING WAS PLACED IN SERVICE IN DECEMBER 2023.CLOSED ON THE ACQUISITION OF A 45-UNIT MULTIFAMILY APARTMENT PROPERTY LOCATED IN DEL NORTE COUNTY, CALIFORNIA, AT-RISK OF LOSING ITS IN-PLACE AFFORDABILITY RESTRICTIONS. UTILIZED 4% FEDERAL LOW INCOME HOUSING TAX CREDITS, STATE TAX CREDITS, TAX-EXEMPT BONDS, CITY FUNDING AND PROJECT BASED VOUCHERS TO FUND THE ACQUISITION AND REHABILITATION OF THE PROPERTY. TOTAL PROJECT DEVELOPMENT COST, INCLUDING ACQUISITION, IS ANTICIPATED TO BE APPROXIMATELY $14 MILLION DOLLARS. THE RENOVATION IS EXPECTED TO BE COMPLETED IN 2025. 34535 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA X MICHAEL MILLER 6504641319 4915 GAMBIER STREET LOS ANGELES CA 90032 MICHAEL MILLER PRESIDENT 60.00 X X 0 0 0 OSCAR SOLARES TREASURER / SECRETARY 1.00 X X 10000 0 0 SANJAY CHAND BOARD MEMBER 1.00 X 0 0 0 JOSEPH PHILLIPS BOARD MEMBER 1.00 X 0 0 0 JULIAN PHILLIPS BOARD MEMBER 1.00 X 0 0 0 10000 0 0 1 0 0 0 BOLD CAPITAL LLC 2625 WHITNEY DRIVE ALHAMBRA CA 91803 CONSULTING SERVICES 118250 1 125000 125000 DEVELOPER FEE REVENUE 531390 1220314 1220314 PARTNER FEE REVENUE 531390 15000 15000 OTHER REVENUE 900099 10915 10915 1246229 2826 2826 1374055 1246229 0 2826 X 118250 118250 17375 17375 16429 16429 34000 34000 6900 6900 2869 2869 MISCELLANEOUS EXPENSES 3757 535 3222 199580 34535 165045 0 12376 17093 362826 767139 0 42043 12376 1189101 2250 0 2250 X 12376 1186851 12376 1186851 12376 1189101 1174475 0 X 0 1 X 1 0 X 30000 17000 125000 172000 30000 17000 125000 172000 26503 145497 2826 2826 174826 1246229 0.83220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS STATED THERE ARE CURRENTLY NO TAX EXAMINATIONS PENDING OR IN PROGRESS. BOLD CAPITAL LLC BOLD CAPITAL LLC IS OWNED BY MICHAEL MILLER 118250 MANAGEMENT SERVICES 0 FORM 990, PART VI, SECTION A, LINE 2 JOSEPH PHILLIPS AND JULIAN PHILLIPS ARE SIBLINGS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT REVIEWS THE 990 BEFORE DISTRIBUTING A COPY TO THE BOARD FOR REVIEW AND ADDITIONAL COMMENT, IF ANY. FORM 990, PART VI, SECTION B, LINE 12C THROUGH QUARTERLY REVIEW AND REGULAR COMMUNICATION WITH THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANT: PROGRAM SERVICE EXPENSES 34,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 34,000. PART VII, COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, ETC BOLD COMMUNITIES PAYS BOLD CAPITAL LLC FOR MANAGEMENT SERVICES. MICHAEL MILLER OWNS BOLD CAPITAL LLC. 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