2024-11-15T19:28:23-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 222536262 SULLIVAN MCKINNEY ELDER HOUSING INC SULL 2032591991 224 MEADOWBROOK ROAD FAIRFIELD CT 06824 DAVID BECKER TREASURER 2032591991 2024-11-15 1 1 GARRETT M HIGGINS P00543209 9143818900 2024-11-15 2023 2024-10-15 13:58:12Z DAVID BECKER 224 MEADOWBROOK ROAD FAIRFIELD CT 06824 831850 0 X EHMCHM.ORG X 1984 CT TO PROVIDE HOUSING FOR THE ELDERLY AND OTHER ELIGIBLE OCCUPANTS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, AND THE REGULATIONS THEREUNDER NOW IN EFFECT. IT HAS LEASED, RENOVATED, AND OPERATES AN APARTMENT COMPLEX OF 40 UNITS IN FAIRFIELD, CONNECTICUT. THE PROJECT IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). AS TO RENT CHARGES AND OPERATING METHODS, THE AGENCY RECEIVES MORTGAGE FINANCING UNDER SECTION 202 AND RECEIVES APPROXIMATELY 75% OF ITS APARTMENT RENTAL INCOME FROM SECTION 8 SUBSIDIES PROVIDED BY HUD. 5 5 0 6 0 0 22500 612924 816500 214147 175 365 0 4414 839175 831850 0 0 0 0 146551 0 0 0 0 737848 870092 884399 870092 -45224 -38242 2771360 2692944 2675662 2635488 95698 57456 X TO PROVIDE HOUSING FOR THE ELDERLY AND OTHER ELIGIBLE OCCUPANTS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, AND THE REGULATIONS THEREUNDER NOW IN EFFECT. IT HAS LEASED, RENOVATED, AND OPERATES AN APARTMENT COMPLEX OF 40 UNITS IN FAIRFIELD, CONNECTICUT. THE PROJECT IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). AS TO RENT CHARGES AND OPERATING METHODS, THE AGENCY RECEIVES MORTGAGE FINANCING UNDER SECTION 202 AND RECEIVES APPROXIMATELY 75% OF ITS APARTMENT RENTAL INCOME FROM SECTION 8 SUBSIDIES PROVIDED BY HUD. 0 0 751182 0 214147 SULLIVAN MCKINNEY ELDER HOUSING, INC. IS ORGANIZED AS A NON-PROFIT CORPORATION TO PROVIDE HOUSING FOR THE ELDERLY AND OTHER ELIGIBLE OCCUPANTS. IT OPERATES AN APARTMENT COMPLEX OF 40 UNITS, LOCATED IN FAIRFIELD, CONNECTICUT. THE PROJECT IS REGULATED BY HUD AND THE ORGANIZATION RECEIVES APPROXIMATELY 75% OF ITS INCOME THROUGH HUD SUBSIDIES. 751182 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 0 1 11 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 X ELDERLY HOUSING MANAGEMENT 2032304809 127 WASHINGTON AVENUE 5TH FL EAST NORTH HAVEN CT 06473 X CAROLYN DURGY PRESIDENT 1.00 X X 0 0 0 KELLY MCDERMOTT VICE PRESIDENT AND CEO 1.00 X X 0 0 0 DAVID BECKER TREASURER 1.00 X X 0 0 0 THERESA BROWN DIRECTOR 1.00 X 0 0 0 PATRICE A KLEIN DIRECTOR 1.00 X 0 0 0 CONNIE M SAXL DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 612924 612924 RENTAL INCOME 531110 214147 214147 214147 365 365 MISCELLANEOUS REVENUE 900099 4414 4414 4414 831850 214147 0 4779 48337 48337 704 704 10074 10074 55980 55980 2109 2109 25690 8 25682 242464 241519 945 1108 1108 217956 215820 2136 ALLOCATED SALARIES 170654 142839 27815 CONGREGATE SERVICE EXPE 54876 54876 REPAIR AND MAINTENANCE 39900 39900 TAXES AND LICENSES 240 240 870092 751182 118910 0 87567 100053 579022 587312 4514 411 1686 1686 5818372 3995008 1999167 1823364 99404 0 180118 2771360 2692944 55654 23703 2439304 2429636 166986 166986 13718 15163 2675662 2635488 X 95698 57456 95698 57456 2771360 2692944 -38242 0 X X 0 1 X 1 1 1 X 581106 573401 571869 604419 612924 2943719 192399 223558 234894 201625 214147 1066623 773505 796959 806763 806044 827071 4010342 0 0 0 4010342 253 212 162 175 365 1167 253 212 162 175 365 1167 4414 4414 773758 797171 806925 806219 831850 4015923 0.99860 0.99980 0.00030 0.00200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5536718 3781967 1757401 281654 213041 65963 1823364 DEFERRED FINANCING COSTS 148049 DEBT REFINANCING SERVICE 16667 SECURITY DEPOSIT 15402 180118 TENANT DEPOSITS 15163 15163 X 831850 0 831850 0 831850 870092 0 870092 0 870092 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS NOT BEEN DESIGNATED AS A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE. THE CORPORATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT BELIEVES THAT THE CORPORATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2019. FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION ENTERED INTO AN AGREEMENT WITH ELDERLY HOUSING MANAGEMENT, INC. OF NORTH HAVEN, CONNECTICUT FOR THE GENERAL MANAGEMENT OF THE ONGOING OPERATION OF THE PROJECT. UNDER THE AGREEMENT, THE CONTRACTOR WILL COLLECT RENTS, DISBURSE EXPENSES AND LOAN PAYMENTS, PROVIDE REQUIRED REPORTING TO HUD AND TO THE CORPORATION AND PROVIDE MANAGEMENT OF THE DAY-TO-DAY OPERATIONS OF THE PROJECT AS REQUIRED. MANAGEMENT FEE TOTALED $48,337 FOR THE YEAR ENDED DECEMBER 31, 2023. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IN ADDITION, THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.