2024-09-19T10:20:16-05:00 2023-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2023-01-01 130816700 BYWATER MUTUAL HOMES INC BYWA 4102681428 911 C ROYAL STREET ANNAPOLIS MD 21401 DENEICE FISHER PRESIDENT 4439940240 2024-09-19 1 0 JOSEPH CONNOLLY P01959750 2122862600 2024-09-19 2023 2024-08-08 14:25:15Z DENEICE FISHER 1914-H COPELAND STREET ANNAPOLIS MD 21401 3599752 0 X N/A X 1970 MD TO PROVIDE HOUSING TO LOW INCOME FAMILIES AS A HUD COOPERATIVE 5 5 0 5 0 0 1408041 1394857 1999008 2124697 9867 29517 33555 50681 3450471 3599752 0 0 0 0 0 0 0 0 0 3359958 3317953 3359958 3317953 90513 281799 12033415 12268750 7999438 7927926 4033977 4340824 TO PROVIDE AFFORDABLE COOPERATIVE HOUSING IN ACCORDANCE WITH SECTION 236 OF THE NATIONAL HOUSING ACT. 0 0 3028972 0 2124697 BYWATER MUTUAL HOMES, INC. (THE "ENTITY") WAS ORGANIZED IN DECEMBER 1970 TO ACQUIRE AN INTEREST IN REAL PROPERTY LOCATED IN ANNAPOLIS, MARYLAND AND TO CONSTRUCT AND OPERATE TWO COOPERATIVE TOWNHOUSE COMPLEXES; ONE HAS 76 UNITS AND IS KNOWN AS BYWATER MUTUAL HOMES, INC., SECTION I AND ONE HAS 232 UNITS AND IS KNOWN AS BYWATER MUTUAL HOMES, INC., SECTION II. BOTH SECTION I AND SECTION II ARE OPERATED UNDER SECTION 236 OF TITLE II OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") AS TO DWELLING UNIT CHARGES AND OPERATING METHODS. 3028972 0 1 0 0 0 0 0 0 0 1 0 0 1 0 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 1 38 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 X QUANTUM REAL ESTATE MANAGEMENT LLC 3019418040 5101 RIVER ROAD SUITE 101 BETHESDA MD 20816 X DENEICE FISHER PRESIDENT 3.00 X X 0 0 0 ALMA CROPPER VICE PRESIDENT 0.50 X X 0 0 0 BETTY WRIGHT SECRETARY 1.50 X X 0 0 0 CAROL SPEAKS TREASURER 1.50 X 0 0 0 RATASHA HARLEY DIRECTOR 1.50 X 0 0 0 0 0 0 0 0 0 0 SK&B REMODELING 2566 TRANSOM PL WOODBRIDGE VA 22191 GENERAL CONTRACTOR 163205 UNITED COMPLETE SVC LLC 9312 PALMER PLACE LAUREL MD 20708 GENERAL CONTRACTOR 107299 2 1394857 1394857 RENTAL INCOME 531110 2124697 2124697 2124697 29517 29517 OTHER TENANT CHARGES 900099 50681 50681 50681 3599752 2124697 0 80198 153273 153273 43435 43435 21795 21795 182033 182033 17741 17741 31799 31799 949556 949556 4976 4976 377646 377646 29573 29573 REPAIRS & MAINTENANCE 1109908 1109908 ALLOC. OFFICE PAYROLL 353156 353156 MISC. PROGRAM EXP. 22124 22124 BAD DEBT 20938 20938 3317953 3028972 288981 0 341556 449590 10004 10215 181179 255227 118992 114135 19566613 11582584 8027856 7984029 3353828 3455554 12033415 12268750 132625 116067 221583 322084 7645230 7489775 7999438 7927926 X 4033977 4340824 4033977 4340824 12033415 12268750 281799 25048 0 X 0 1 X 0 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 328600 328600 18871789 11457707 7414082 366224 124877 241347 7984029 RESTRICTED DEPOSITS AND FUNDED RESERVES 3455554 3455554 X 3624800 25048 25048 3599752 0 3599752 3317953 0 3317953 0 3317953 PART X, LINE 2: THE ENTITY RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS FOR PERIODS PRIOR TO DECEMEBER 31, 2020. FORM 990, PART VI, SECTION A, LINE 3 THE PROPERTY IS MANAGED BY QUANTUM REAL ESTATE MANAGEMENT, LLC. PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. THE FEE IS 5% OF GROSS COLLECTIONS OF THE PROJECT. THE FEE IS CAPPED AT $41.47 PER UNIT PER MONTH. FOR THE YEAR ENDED DECEMBER 31, 2023 AND 2022, MANAGEMENT FEES WERE $153,273. THERE WERE NO BOARD MEMBERS WHO WERE COMPENSATED BY THE MANAGEMENT COMPANY FOR THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD ACTED AS A WHOLE ON ALL MATTERS AND NO COMMITTEE WAS APPOINTED DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B BYWATER MUTUAL HOMES, INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. BEFORE THE PREPARED FORM 990 IS FILED, IT IS SENT ELECTRONICALLY TO EVERY MEMBER OF THE BOARD TO REVIEW AND IS DISCUSSED WITH MANAGEMENT AT A MEETING OF THE BOARD OF DIRECTORS. ONCE THE BOARD HAS APPROVED THE RETURN IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST.