2024-03-19T15:39:40-05:00 2023-10-31 562353893 AGRESTA STORMS & O'LEARY PC 5140 COMMERCE CIRCLE INDIANAPOLIS IN 46237 990 2022-11-01 352036890 COMMUNITY HOUSING INITIATIVE INC COMM 3178344756 8 S MAIN ST STE 101 PO BOX 396 WHITESTOWN IN 46075 MITCHELL L WALTERS PRESIDENT 3178344756 2024-03-15 1 MITCHELL WALTERS XXX-XX-XXXX 0 BRAD M FELDMAN CPA P00661658 3177809850 2024-03-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MITCHELL L WALTERS 8 S MAIN ST STE 101 PO BOX 396 WHITESTOWN IN 46075 974113 0 X N/A X 1998 IN AFFORDABLE HOUSING - SEE PART III LINE 1 FOR MISSION STATEMENT. 3 3 0 3 0 0 460713 484464 433360 482293 20 1366 7606 5990 901699 974113 0 0 0 0 168046 184482 0 0 0 774518 882085 942564 1066567 -40865 -92454 1881753 1726802 3125223 3062726 -1243470 -1335924 X TO PROMOTE SCIENTIFIC, EDUCATIONAL AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF INTERNAL REVENUE CODE. CONSISTENT WITH THESE PURPOSES, COMMUNITY HOUSING IS ORGANIZED TO PROVIDE DECENT HOUSING THAT IS AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME PERSONS AND TO PROMOTE, FORMULATE, CONDUCT, ADMINISTER AND OTHERWISE ASSIST IN RESEARCH, PROGRAMS AND STUDIES IN THE FILES OF HOUSING AND URBAN DEVELOPMENT. COMMUNITY HOUSING IS A PUBLIC BENEFIT CORPORATION WITHIN THE MEANING OF I.C. 23-17-2-23. 0 0 862774 482293 TO PROVIDE LOW-INCOME HOUSING FOR ELDERLY AND DISABLED INDIVIDUALS SUBSIDIZED BY A CONTRACT WITH U.S. DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT. COMMUNITY HOUSING IS MADE UP OF SIX APARTMENT COMPLEXES LOCATED IN INDIANA AND ARIZONA. 862774 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 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 IN X X JUSTUS PROPERTY MANAGEMENT INC 3178344756 8 SOUTH MAIN STREET SUITE 101 WHITESTOWN IN 46075 X MITCHELL L WALTERS PRESIDENT 2.00 X X 0 0 0 STEPHANIE J WALTERS SECRETARY 2.00 X X 0 0 0 STEVEN K WALTERS VP 2.00 X X 0 0 0 0 0 0 0 0 0 0 0 484464 484464 TENANT RENT AND CHARGE 531110 482293 482293 482293 1366 1366 LAUNDRY AND VENDING 812300 5990 5990 5990 974113 482293 0 7356 167981 167981 10560 10560 5941 5941 100976 100976 2208 2208 40500 40500 3133 3133 19590 19590 424901 424901 34275 34275 157283 157283 51506 51506 BAD DEBTS 20887 20887 TELEPHONE AND INTERNET 11763 11763 OTHER ADMIN EXPENSES 9660 9660 TRAINING 5403 5403 1066567 862774 203793 0 163999 173426 40765 29274 13536 19658 6533459 5413976 1271067 1119483 56465 56542 335921 328419 1881753 1726802 21155 40387 3030149 2946231 73919 76108 3125223 3062726 X -1243470 -1335924 -1243470 -1335924 1881753 1726802 -92454 0 X X 0 1 X 1 1 1 X 710006 738149 927474 894073 966757 4236459 710006 738149 927474 894073 966757 4236459 4236459 143 82 23 20 1366 1634 4181 5433 7494 16693 5990 39791 4277884 0.99030 0.99020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 127514 127514 6015679 5023710 991969 390266 390266 0 1119483 TAX AND INSURANCE ESCROW 34616 REPLACEMENT RESERVE 293803 328419 ACCRUED MORTGAGE INTEREST 3029 ACCRUED REAL ESTATE TAXES 15578 TENANT SECURITY DEPOSITS 54995 PREPAID REVENUE 2506 76108 X 974113 0 974113 0 974113 1066567 0 1066567 0 1066567 PART X, LINE 2: COMMUNITY HOUSING INITIATIVE, INC. IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX UNDER THE INDIANA NOT-FOR-PROFIT CORPORATION ACT OF 1971. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. COMMUNITY HOUSING INITIATIVE, INC. HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. IF CHI WERE TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE, AND PENALTIES ON ANY INCOME TAX WOULD BE REPORTED AS PENALTIES. MANAGEMENT'S CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ON ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF, AS WELL AS OTHER FACTORS. CHI IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. CHI'S MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. FORM 990, PART VI, SECTION A, LINE 3 COMMUNITY HOUSING INITIATIVE, INC. HAS A MANAGEMENT AGENT CONTRACT WITH LANDMARK MANAGEMENT COMPANY, INC AND JUSTUS MANAGEMENT COMPANY FOR DAILY OPERATIONS. ON A MONTHLY BASIS, MANAGEMENT COMPANIES REPORTS TO THE BOARD OF DIRECTORS ON FINANCIAL OPERATIONS AND COMPLIANCE WITH LAWS AND REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11B COMMUNITY HOUSING INITIATIVE EXECUTIVE DIRECTOR AND MANAGEMENT AGENT REVIEWS INTERNAL REVENUE SERVICE (IRS) FORM 990 WITH PREPARER. AFTER REVIEW AND REVISIONS, IT IS PRESENTED TO THE FULL BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 COMMUNITY HOUSING INITIATIVE, INC. MAKES GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS AVAILABLE UPON WRITTEN REQUEST. FORM 990 PART XII, LINE 2C COMMUNITY HOUSING INITIATIVE, INC. BOARD OF DIRECTORS WITH THE MANAGEMENT AGENTS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS AND RESPONSIBLE FOR THE SELECTION OF INDEPENDENT ACCOUNTANT.