2024-05-08T13:37:32-04:00 2023-12-31 721314069 MADDOX & ASSOCIATES APC 5627 BANKERS AVE BLDG 2 BATON ROUGE LA 708082610 990 2023-01-01 431557527 KEARNEY VILLA HOUSING CORPORATION KEAR 3147276664 2320 N FREMONT AVE STE D1 SPRINGFIELD MO 65803 TREVOR LOGAN PRESIDENT 3147276664 2024-04-12 true CORY BROCKERT 999009999 false WILLIAM B BEALE P00437323 2259263360 2024-05-08 2023 2023-04-26 12:10:37Z TREVOR LOGAN 5003 N 13TH STREET OZARK MO 65721 200997 false X X 1990 MO KEARNEY VILLA HOUSING CORPORATION OWNS AND OPERATES A 31 UNIT APARTMENT COMPLEX THAT PROVIDES SAFE AND AFFORDABLE HOUSING TO VERY LOW INCOME FAMILIES. THE CORPORATION'S ACTIVITIES ARE OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY RULES AND REGULATIONS OF THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). HUD PROVIDED THE INITIAL LOAN TO CONSTRUCT THE FACILITY AND PROVIDES MUCH OF THE CONTINUING SUPPORT BY WAY OF MONTHLY RENT SUBSIDY SECTION 8 - HOUSING ASSISTANCE PAYMENTS FOR THE ELDERLY. THE LOAN WAS REFINANCED IN 2017. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. ELIGIBLE LOW INCOME TENANTS PAY 30% OF THEIR INCOME AS RENT WHILE HUD PAYS THE DIFFERENCE BETWEEN THE CONTRACT RENT AND THE RENT PAID BY THE TENANT. 7 7 2 7 0 0 194958 200744 193 253 0 195151 200997 0 0 51901 55448 0 0 171602 185116 223503 240564 -28352 -39567 463412 422401 871235 869791 -407823 -447390 X KEARNEY VILLA HOUSING COPORATION OWNS AND OPERATES A 31 UNIT APARTMENT COMPLEX THAT PROVIDES SAFE AND AFFORDABLE HOUSING TO VERY LOW INCOME FAMILIES. THE CORPORATION'S ACTIVITIES ARE OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY RULES AND REGULATIONS OF THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). HUD PROVIDED THE INITIAL LOAN TO CONSTRUCT THE FACILITY AND PROVIDES MUCH OF THE CONTINUING SUPPORT BY WAY OF MONTHLY RENT SUBSIDY SECTION 8 - HOUSING ASSISTANCE PAYMENTS FOR THE ELDERLY. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. ELIGIBLE LOW INCOME TENANTS PAY 30% OF THEIR INCOME AS RENT WHILE HUD PAYS THE DIFFERENCE BETWEEN THE CONTRACT RENT AND THE RENT PAID BY THE TENANT. false false 213467 200744 PROVIDES SAFE AND AFFORDABLE HOUSING TO 31 ELDERLY AND LOW INCOME FAMILIES. 213467 true false false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 2 true false false false false false false false false false false false false X 7 7 false true false false false false false true true false false true false false true true true false X SANSONE GROUP 3147276664 120 SOUTH CENTRAL STE 500 ST LOUIS MO 63105 X BOYD HOMER DIRECTOR 0.10 X 0 0 0 JEREMY PICKENS DIRECTOR 0.10 X 0 0 0 WILLIAM REYNOLDS DIRECTOR 0.10 X 0 0 0 DANIEL ADAMS SECRETARY 0.10 X 0 0 0 TREVOR LOGAN PRESIDENT 0.10 X 0 0 0 GARY PICKENS TREASURER 0.10 X 0 0 0 TONY PICKENS VICE PRESIDE 0.10 X 0 0 0 false false false LOW INCOME HOUSING 531390 200744 200744 200744 253 253 200997 200744 253 41778 41778 3852 3852 9818 9818 18142 18142 8815 8815 12516 12516 54956 54956 140 140 29021 29021 MISC OPERATING 61391 61391 MISC ADMIN 79 79 MISC TAXES AND LICENSES 56 56 240564 213467 27097 0 14217 4820 273 317 3757 3466 1087221 836979 277777 250242 167388 163556 463412 422401 17060 30671 767 1074 845035 829643 8373 8403 871235 869791 X -407823 -447390 -407823 -447390 463412 422401 -39567 X false true X true true true X 185958 188767 191177 194958 200744 961604 185958 188767 191177 194958 200744 961604 961604 196 184 192 193 253 1018 196 184 192 193 253 1018 3955 3955 186154 192906 191369 195151 200997 966577 0.99490 0.92590 0.00000 0.00000 X PART III, LINE 12 GAIN ON RETENTION OF RES REC 3,955 46000 46000 73010 41244 31766 4999 4992 7 963212 790743 172469 250242 REPLACEMENT RESERVE 133706 TENANT SECURITY DEPOSITS 10354 INSURANCE ESCROW 9369 RESIDUAL RECEIPTS 7772 PROJECT IMPROVEMENT 2355 163556 TENANT SECURITY DEPOSITS 8403 8403 X 200997 200997 200997 240564 240564 240564 SCHEDULE D, PAGE 3, PART X THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE CORPORATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR TAX YEARS ENDING ON OR BEFORE DECEMBER 31, 2018. SCHEDULE D, PAGE 4, PART XIII THE CORPORATION MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE CORPORATION FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. THE CORPORATION'S MANAGEMENT BELIEVES THE CORPORATION HAS NO MATERIAL UNCERTAIN TAX POSITIONS TO BE ACCOUNTED FOR IN THE FINANCIAL STATEMENTS UNDER THE RULES. THE CORPORATION RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE. THE FEDERAL INCOME TAX RETURNS OF THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. FORM 990 - ORGANIZATION'S MISSION KEARNEY VILLA HOUSING COPORATION OWNS AND OPERATES A 31 UNIT APARTMENT COMPLEX THAT PROVIDES SAFE AND AFFORDABLE HOUSING TO VERY LOW INCOME FAMILIES. THE CORPORATION'S ACTIVITIES ARE OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY RULES AND REGULATIONS OF THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). HUD PROVIDED THE INITIAL LOAN TO CONSTRUCT THE FACILITY AND PROVIDES MUCH OF THE CONTINUING SUPPORT BY WAY OF MONTHLY RENT SUBSIDY SECTION 8 - HOUSING ASSISTANCE PAYMENTS FOR THE ELDERLY. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. ELIGIBLE LOW INCOME TENANTS PAY 30% OF THEIR INCOME AS RENT WHILE HUD PAYS THE DIFFERENCE BETWEEN THE CONTRACT RENT AND THE RENT PAID BY THE TENANT. FORM 990, PAGE 6, PART VI, LINE 3 SANSONE GROUP IS THE MANAGING AGENT FOR THE PROPERTY. THEY ARE PAID A FEE OF 8.2% OF GROSS INCOME, AND A FEE OF 10% FOR ALL COVERED CONSTRUCTION WORK FOR THE MANAGEMENT OF CONSTRUCTION PROJECTS, AS AUTHORIZED BY THE US DEPT OF HOUSING AND URBAN DEVELOPMENT. THE MANAGING AGENT OVERSEES THE PROPERTY, PROVIDED ALL ACCOUNTING FUNCTIONS AND COMPLIANCE WITH HUD REGULATIONS. SANSONE GROUP PERSONNEL MEETS ON A QUARTERLY BASIS WITH THE MANAGEMENT/OFFICER OF THE NFP ORGANIZATION TO DISCUSS THE FINANCIAL STATEMENTS AND INFORM THEM OF EVENTS THAT TRANSPIRED SINCE THE LAST MEETING. THE ITEMS DISCUSSED ARE DOCUMENTED AND SENT TO THE BOARD AT A LATER DATE. FORM 990, PAGE 6, PART VI, LINE 11B COPY OF THE COMPLETE TAX RETURN IS SENT TO THE PRESIDENT FOR HIS SIGNATURE. THE PRESIDENT THEN REVIEWS THE RETURN AND SENDS TO THE OTHER BOARD MEMBERS. WHEN THE SIGNED COPY IS RECEIVED BACK BY THE PREPARER, THE RETURN IS ELECTRONICALLY FILED. FORM 990, PAGE 6, PART VI, LINE 15A DIRECTORS AND/OR OFFICERS OF THE COPORATION ARE VOLUNTARY POSITIONS AND ARE NOT PAID ANY COMPENSATION OR REIMBURSED FOR THEIR TIME AND SERVICES. FORM 990, PAGE 6, PART VI, LINE 15B ALL OFFICER POSITIONS ARE PURELY VOLUNTARY. OFFICERS ARE NOT COMPENSATED IN ANY MANNER. FORM 990, PAGE 6, PART VI, LINE 19 THE COPORATION IS A NOT FOR PROFIT ENTITY FORMED TO PROVIDE SAFE AND AFFORDABLE HOUSING TO THE VERY LOW INCOME AND THE ELDERLY. THE ENTITY IS GOVERNED BY RULES AND REGULATIONS ISSUED BY THE US DEPT OF HOUSING AND DEVELOPMENT (HUD). THE GENERAL PUBLIC WOULD HAVE NO REASON TO REQUEST ANY SUCH INFORMATION. IF REQUIRED BY VENDORS FOR SALES TAX, THE AGENT PROVIDES A CERTIFICATE OF TAX EXEMPT STATUS.