2024-06-28T12:18:37-05:00 2023-12-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2023-01-01 510210514 SAINT MARY'S HOUSING CORPORATION SAIN 3019418040 5101 RIVER ROAD 101 BETHESDA MD 20816 KEVIN WHITE PRESIDENT 3019418040 2024-06-28 1 KEVIN WHITE 999009999 1 LORI ROTHE YOKOBOSKY CPA P01273422 3016529100 2024-06-28 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z KEVIN WHITE 5101 RIVER ROAD 101 BETHESDA MD 20816 11846594 0 X WWW.SAINTMARYSHOUSING.ORG X 1976 VA AFFORDABLE HOUSING AND SERVICES FOR LOW- AND MODERATE-INCOME SENIOR CITIZENS. 5 5 1 5 0 0 0 0 6251382 7157092 -900649 1770912 0 24999 5350733 8953003 0 0 0 0 1236292 1241376 0 0 0 3949742 3095619 5186034 4336995 164699 4616008 50011160 55801492 334210 383992 49676950 55417500 TO ACQUIRE AND MAINTAIN AFFORDABLE HOUSING FOR LOW- AND MODERATE-INCOME SENIOR CITIZENS. 0 0 1155979 5380427 EVERGREEN HOUSE, 246 RENTAL APARTMENTS FOR VERY LOW-INCOME SENIOR CITIZENS. 2002635 1801664 WINGLER WEST, LLC, A WHOLLY-OWNED SUBSIDIARY LIMITED LIABILITY COMPANY, OWNS AND OPERATES WINGLER WEST APARTMENTS, 132 RENTAL APARTMENTS FOR LOW- AND MODERATE-INCOME PERSONS IN ASHBURN, VIRGINIA. 567996 PROVIDE DEVELOPMENT FUNDING TO AFFILIATED ENTITIES TO ACQUIRE, CONSTRUCT, RENOVATE, AND/OR MAINTAIN AFFORDABLE RENTAL HOUSING FOR LOW- AND MODERATE-INCOME SENIOR CITIZENS 3726610 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 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 1 1 1 1 0 1 19 0 1 1 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MARGARET P BESSETTE 3019418040 5101 RIVER ROADSUITE 101 BETHESDA MD 20816 CHARLES WILSON SECRETARY / TREASURER 0.50 0.55 X X 0 0 0 MICHAEL FONT VICE PRESIDENT 0.50 0.50 X X 0 0 0 KEVIN WHITE PRESIDENT 0.50 1.00 X X 0 0 0 FATHER RICHARD GUEST DIRECTOR 0.50 0.50 X 0 0 0 SCOTT KLINE DIRECTOR 0.50 0.50 X 0 0 0 JOHN SPENCER EXECUTIVE DIRECTOR 40.00 X 149760 0 0 149760 0 0 1 0 0 0 EV-AIR-TIGHT LLC 8516 RAINSWOOD DRIVE HYATTSVILLE MD 20785 BUILDING EXTERIOR WATERPROOFING 430177 SECURITAS SECURITY SVC USA INC 6030 HOLLYWOOD BLVD STE HOLLYWOOD FL 33024 SECURITY GUARD SERVICES 152004 2 TENANT ASSISTANCE PAYMENTS 531110 4141254 4141254 PROGRAM SERVICES RENTS 531110 2580503 2580503 INTEREST INCOME- NOTES RECEIVABLE 531110 394464 394464 OTHER REVENUE 531110 21052 21052 LAUNDRY 531110 19819 19819 7157092 666533 666533 3997970 2893591 1104379 1104379 1104379 BAD DEBTS RECOVERED 900099 24602 24602 397 397 24999 8953003 7182091 0 1770912 X 149760 128559 21201 874204 750445 123759 83649 83649 133763 133763 349888 349888 1285 1285 53842 53842 7695 7695 7507 7507 177231 177231 1325248 1325248 1601 1601 808523 808523 38143 38143 OTHER ADMIN EXPENSES 105523 51523 54000 HOA/CONDO FEES 90256 90256 LOSS ON DISPOSAL 72259 72259 OTHER RENTING EXPENSES 35038 35038 21580 21580 4336995 3726610 610385 0 5438503 10319948 18435 24394 97380 195944 29241089 11505732 17621764 17735357 23471406 26135938 3363672 1389911 50011160 55801492 216862 214119 13533 18003 103815 107210 0 44660 334210 383992 X 49676950 55417500 49676950 55417500 50011160 55801492 4616008 1124542 0 X 0 1 X 0 1 1 0 1 X 4949830 4949830 16959456 11163365 5796091 6461746 17368 6444378 34527 22922 11605 835530 302077 533453 17735357 NOTES RECEIVABLE -MADONNA HOUSE AT BELMONT LP 2839099 C ADVANCE TO MADONNA HOUSE AT BELMONT LP 300000 C NOTES RECEIVABLE -WINGLER HOUSE LLC 4154449 C DUE FROM ST. MARY HOUSING DEVELOPMENT CORP 591142 C ALLOWANCE FOR DOUBTFUL ACCT -5121056 C INVESTMENT FUNDS 8377999 C ADVANCE TO SMHDC MADONNA HOUSE LLC 500000 C ADVANCE TO SAINT MARY'S HOUSING DEVELOPMENT CORP 715829 C SPECIAL SAVING ACCOUNT 13778476 C 26135938 DUE TO AFFILIATES 44660 44660 X 7537273 1124542 -24602 1099940 6437333 2515670 2515670 8953003 4312393 0 4312393 24602 24602 4336995 PART IV, LINE 2B: THE AMOUNTS OF $107,210 AND $103,815 AS OF DECEMBER 31, 2023 AND 2022. RESPECTIVELY, REPRESENT ESCROW ACCOUNT OF TENANT SECURITY HELD IN TRUST. TENANT SECURITY DEPOSITS ARE HELD IN A FEDERALLY INSURED BANK PER VIRGINIA RENT ESCROW LAW. PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE, EXCEPT FOR UNRELATED BUSINESS INCOME AS DEFINED BY THE CODE. THE CORPORATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. DUE TO ITS TAXEXEMPT 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 DECEMBER 31, 2023 AND 2022, 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 CONSOLIDATED FINANCIAL STATEMENTS. ACCORDINGLY, THESE CONSOLIDATED 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 2020 REMAIN OPEN. WINGLER IS A WHOLLY OWNED LIMITED LIABILITY COMPANY AND IS A DISREGARDED ENTITY FOR INCOME TAX PURPOSES AND DOES NOT FILE AN INCOME TAX RETURN. NO PROVISION OR BENEFIT FOR INCOME TAXES FOR WINGLER HAS BEEN INCLUDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS SINCE TAXABLE INCOME OR LOSS WILL PASS THROUGH TO, AND WILL BE REPORTABLE BY THE SOLE MEMBER, THE CORPORATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: EVERGREEN ENTITY BAD DEBTS -24,602. PART XI, LINE 4B - OTHER ADJUSTMENTS: ENTITY REVENUE RECLASSED FROM EXPENSES 2,515,670. PART XII, LINE 4B - OTHER ADJUSTMENTS: EVERGREEN ENTITY BAD DEBTS 24,602. SCHEDULE D LINE 4B EXPLANATION: EVERGREEN ENTITY BAD DEBTS $24,602 HAS BEEN RECLASSED TO REVENUE FROM THE EXPENSES. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT TAX RETURN IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW. THE BOARD REVIEWS THE TAX RETURN AND RESOLVES ANY QUESTIONS. THE BOARD SENDS APPROVAL TO THE TAX PREPARER TO FINALIZE THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY REQUIRE EACH DIRECTOR AND/OR OFFICER TO ANNUALLY DISCLOSE HIS/HER KNOWLEDGE AND UNDERSTANDING OF THE POLICY WHICH INCLUDES THE DUTY OF THE DIRECTOR AND/OR OFFICER TO DISCLOSE TO THE BOARD OF DIRECTORS ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE BOARD OF DIRECTORS (EXCLUDING ANY MEMBER WHICH IS PARTY TO THE CONFLICT) IS RESPONSIBLE FOR REVIEWING THE POTENTIAL CONFLICT AND MAKING THE DETERMINATION IF AN ACTUAL CONFLICT OF INTEREST EXISTS. THE BOARD OF DIRECTORS WILL REVIEW ALL THE FACTS AND CIRCUMSTANCES OF THE ACTUAL OR POTENTIAL CONFLICT TO DETERMINE IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS/WAS REASONABLY POSSIBLE AND IF NOT, DETERMINE THAT THE ARRANGEMENT IS IN THE BEST INTEREST OF THE ORGANIZATION, FOR ITS OWN BENEFIT AND IS FAIR AND REASONABLE. UPON KNOWLEDGE THAT A CONFLICT WAS NOT PROPERLY DISCLOSED TO THE BOARD OF DIRECTORS, APPROPRIATE CORRECTIVE AND DISCIPLINARY ACTIONS SHALL BE TAKEN. INDIVIDUALS PARTY TO ANY CONFLICTS OF INTEREST SHALL BE PRECLUDED FROM VOTING ON ANY MATTERS ASSOCIATED WITH THE ARRANGEMENT OR TRANSACTION INVOLVING SUCH CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A REVIEW OF INDUSTRY SALARY SURVEYS AND REVIEW OF 990S OF PEER ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11A MANAGEMENT EXPENSE: THE CORPORATION IS OBLIGATED UNDER THE TERMS OF A PROPERTY MANAGEMENT AGREEMENT WITH QUANTUM REAL ESTATE MANAGEMENT, LLC, AN UNRELATED PARTY. THE PROPERTY MANAGEMENT FEE IS BASED ON 5.5% OF RESIDENTIAL INCOME COLLECTED FROM EVERGREEN HOUSE APARTMENTS AND IS BASED ON 4.5% OF RESIDENTIAL INCOME COLLECTED FROM WINGLER WEST APARTMENTS. PROPERTY MANAGEMENT FEES INCURRED FOR THE YEAR ENDED DECEMBER 31, 2023, WERE $349,888. WINGLER WEST LLC 5101 RIVER ROAD SUITE 101 BETHESDA MD 20816 872207567 APARTMENT RENTAL TO LOW VA 1801664 13964623 SAINT MARY'S HOUSING CORPORATION CECELIA HOUSING INC 5101 RIVER ROAD SUITE 101 BETHESDA MD 20816 521214517 APARTMENT RENTAL TO LOW INCOME ELDERLY PERSONS VA 501(C)(4) SAINT MARY'S HOUSING CORPORATION 1 SECOND SAINT MARY'S HOUSING CORPORATION - 5101 RIVER ROAD SUITE 101 BETHESDA MD 20816 510220688 APARTMENT RENTAL TO LOW INCOME ELDERLY PERSONS VA 501(C)(4) SAINT MARY'S HOUSING CORPORATION 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SECOND SAINT MARY'S HOUSING CORPORATION D 1000000 LOAN FOR REFINANCEND; PAID OFF 8/ SECOND SAINT MARY'S HOUSING CORPORATION D 2190000 LOAN TO PAY OFF PRIOR LOAN; PAID