2024-05-15T11:50:21-05:00 2023-06-30 721396621 CARR RIGGS & INGRAM LLC 402 E TYLER AVENUE HARLINGEN TX 78550 990 2022-07-01 742247344 THE PALMS RETIREMENT CENTER PALM 9564214331 525 E DAVIS STREET HARLINGEN TX 78550 MELVIN D JUSTICE PRESIDENT 9564214331 2024-05-14 1 MELVIN JUSTICE 999009999 0 JONATHAN E HALL CPA P01524578 9564233765 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MELVIN D JUSTICE 525 E DAVIS STREET HARLINGEN TX 78550 619200 0 X N/A X 1982 TX THE PROJECT IS OPERATED AS AN APARTMENT COMPLEX OF 18 EFFICIENCY AND 45 ONE BEDROOM UNITS FOR ELDERLY OR DISABLED PERSONS WITH LOW INCOME. 7 7 5 0 0 0 162827 360582 222403 244481 68 93 14019 14044 399317 619200 0 0 0 0 139533 138802 0 0 0 439480 437567 579013 576369 -179696 42831 1059280 1051397 1503422 1452708 -444142 -401311 THE PROJECT IS OPERATED AS AN APARTMENT COMPLEX OF 18 EFFICIENCY AND 45 ONE BEDROOM UNITS FOR ELDERLY OR DISABLED PERSONS WITH LOW INCOME. 0 0 489914 258525 THIS ORGANIZATION PROVIDES FEDERALLY-SUBSIDIZED HOUSING AND A SAFE, SANITARY ENVIRONMENT FOR ELDERLY OR DISABLED PERSONS WITH A LOW INCOME. THE ORGANIZATION PROVIDES 18 EFFICIENCY AND 45 ONE-BEDROOM UNITS. 489914 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 4 0 5 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 0 0 1 1 1 0 X EVARISTO MELGOZA 9564214331 525 E DAVIS STREET HARLINGEN TX 78550 MELVIN D JUSTICE PRESIDENT 0.00 X X 0 0 0 MIKE SULLIVAN VICE PRESIDENT 0.00 X X 0 0 0 EDWARD H WHITTINGTON SECRETARY 0.00 X X 0 0 0 DAN M HATFIELD DIRECTOR 0.00 X 0 0 0 RACHEL HENDRIX DIRECTOR 0.00 X 0 0 0 SYLVIA HEMBREE DIRECTOR 0.00 X 0 0 0 TYLER JONES DIRECTOR 0.00 X 0 0 0 EVARISTO MELGOZA SITE MGR 40.00 X 47996 0 0 47996 0 0 0 0 0 0 0 360582 360582 DWELLING RENTAL INCOME 532000 248538 248538 VACANCIES-APARTMENTS 532000 -4057 -4057 244481 93 93 MISCELLANEOUS INCOME 532000 14044 14044 14044 619200 258525 0 93 49149 41777 7372 70579 59992 10587 9245 7858 1387 9829 8355 1474 36313 30866 5447 18750 15937 2813 17261 14672 2589 61686 52433 9253 84141 71520 12621 66690 56686 10004 71235 60550 10685 OPERATING & MAINTENANCE 66695 56691 10004 SUPPLIES 14796 12577 2219 576369 489914 86455 0 18797 23548 230937 273288 60747 62767 2657743 1966374 748374 691369 425 425 1059280 1051397 12736 12846 1474377 1423038 16309 16824 1503422 1452708 X -444142 -401311 -444142 -401311 1059280 1051397 42831 0 X 0 1 X 1 1 1 X 364212 367231 364400 162827 360582 1619252 364212 367231 364400 162827 360582 1619252 1619252 192 208 146 68 93 707 12161 11282 11799 14019 14044 63305 1683264 0.96200 0.96280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18000 18000 2336333 1709989 626344 266730 227917 38813 36680 28468 8212 691369 TENANT SECURITY DEPOSITS 16824 16824 X 619200 0 619200 0 619200 576369 0 576369 0 576369 PART X, LINE 2: THE PROJECT REMAINS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN ADDITION, THE PROJECT HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE FISCAL YEAR ENDED JUNE 30, 2023. THE PROJECT BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATION FOR YEARS PRIOR TO JUNE 30, 2019. FORM 990, PART VI, SECTION A, LINE 3 THE PALM'S RETIREMENT CENTER, INC. PAYS A MANAGEMENT FEE TO TERON ENTERPRISES AMOUNTING TO 6% OF GROSS RENT COLLECTIONS. TERON ENTERPRISES IN TURN PROVIDES THE PALM'S RETIREMENT CENTER, INC. WITH MANAGEMENT ASSISTANCE THROUGHOUT THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE MANAGING AGENT BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 TERON ENTERPRISES REPRESENTATIVE APPROVES SALARIES AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1. WHERE APPLICABLE, TERON ENTERPRISES REPRESENTATIVE APPROVES SALARIES FOR OFFICERS AND/OR MANAGERS AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. EACH REQUEST IS REVIEWED BY THE BOARD. IF THE REQUEST IS APPROVED BY THE BOARD, THE DOCUMENT IS RELEASED TO THE REQUESTOR.