2024-08-15T17:51:22-04:00 2023-12-31 364119639 KOLNICKI PETERSON & WIRTH CPA'S 1400 OPUS PLACE SUITE 100 DOWNERS GROVE IL 60515 990 2023-01-01 362666771 OAK PARK RESIDENCE CORPORATION OAKP 7083866061 21 SOUTH BOULEVARD OAK PARK IL 60304 WAYNE PIERCE CHAIR 7083866061 2024-07-30 true true KENNETH W PETERSON CPA P00046293 6303901140 2024-08-15 2023 2024-08-08 14:25:15Z DAVID G POPE 21 SOUTH BOULEVARD OAK PARK IL 60302 10140044 false X WWW.OAKPARKRC.COM X 1979 IL THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. 9 9 56 0 739565 800467 8902899 9252865 606 86712 135633 0 9778703 10140044 0 0 1670312 1728855 0 0 8860515 8919556 10530827 10648411 -752124 -508367 42582613 45218271 42324778 45467803 257835 -249532 X THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. false false 7492526 8978972 TO REPAIR, PURCHASE, SELL AND MANAGE SUBSTANDARD RESIDEN- TIAL HOUSING IN OAK PARK, ILLINOIS. THE CORPORATION ALSO MANAGES PROPERTIES AND SELLS FORECLOSED HOUSES. 1018677 1074360 OPERATION OF THE OAKS, AN APARTMENT COMPLEX FOR THE ELDERY AND PHYSICALLY HANDICAPPED THAT IS SUBSUDIZED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 8511203 true true false false false false false false false false true false false true true true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false true true false false false true 31 0 true 56 true false false false false false false false false X 9 9 false false false false false false false true true false false false true true true true true true true false IL X BRAD SINN 7083866061 21 SOUTH BLVD OAK PARK IL 60304 DAVID G POPE CEO 30.00 10.00 X 187144 59098 0 DARIAN BLOOM DIRECTOR 1.00 X 0 0 0 RYAN VON DREHLE DIRECTOR 1.00 X 0 0 0 PETER GONZALEZ TREASURER 1.00 X X 0 0 0 MAJORIE GREENWALD SECRETARY 1.00 X X 0 0 0 NANCY LEAVY DIRECTOR 1.00 X 0 0 0 WAYNE PIERCE CHAIR 1.00 X X 0 0 0 CODY POWELL DIRECTOR 1.00 X 0 0 0 JENNIFER STRATMAN VICE CHAIR 1.00 X X 0 0 0 RACHEL WEBER DIRECTOR 1.00 X 0 0 0 187144 59098 1 false true false SYNERGY CONSTRUCTION 2037 W CARROLL STREET CHICAGO IL 60612 BLDG CONSULTANT 2095948 KAPETANEAS PAINTING INC 2130 WESTCHESTER BLVD WESTCHESTER IL 60154 PAINTING/REPAIR 336780 A PLUS CLEANING & MAINTENANCE 4137 W LAKE STREET CHICAGO IL 60624 JANITORIAL SERV 303432 MORALES GENERAL CONTRACTORS 4944 W ERIE STREET CHICAGO IL 60644 MASONRY 256265 FLYNN CONSTRUCTION CO 1405 BRIDGEHAMPTON DRIVE PLAINFIELD IL 60586 REHAB & REPAIRS 204670 6 800467 800467 RENT-TENANTS 532000 8983678 8983678 MGMT. & MAINT. FEES 561000 189172 189172 VILL OAK PARK SMALL CONDO GT 561000 42500 42500 PROGRAM REIMBURSEMENTS 900099 22548 22548 OTHER ADMINISTRATIVE FEES 900099 14967 14967 9252865 86712 86712 10140044 9252865 86712 246242 246242 1185076 210008 975068 297537 28068 269469 69652 69652 2684038 2214580 469458 1146093 1145066 1027 2339915 2313072 26843 352841 291642 61199 REAL ESTATE TAXES 1363050 1355210 7840 ADMINISTRATIVE EXPENSES 709677 383373 326304 BAD DEBT 206222 206222 AMORTIZATION OF FEES 48068 48068 10648411 8511203 2137208 0 764579 457851 183501 352836 36040 62130 176932 212660 67612712 33833520 34690303 33779192 3334679 817360 3396579 9536242 42582613 45218271 169543 217155 707776 734187 18011178 17664881 21126339 24266727 2309942 2584853 42324778 45467803 X 1702100 1136849 -1444265 -1386381 257835 -249532 42582613 45218271 X -508367 1000 X false true X true true true X 698709 710064 1227553 739565 800467 4176358 698709 710064 1227553 739565 800467 4176358 4176358 50972 144748 192 606 86712 283230 134633 134633 4594221 41801037 0.90900 0.92030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3600846 3600846 61909824 33833520 28076304 2102042 2102042 33779192 CONTRUCTION IN PROCESS 8231490 RESTRICTED CASH 950010 ESCROW DEPOSITS 205706 RIGHT OF USE ASSET 148036 INVESTMENT IN SUBSIDIARY 1000 9536242 ACCRUED EXP. REAL ESTATE TAXES 1362967 SECURITY DEPOSIT/OTHER LIABILITIES 793984 ACCRUED EXP. SALARIES & EMPLOYEE BEN 193210 LEASE LIABILITY 152437 ACCRUED INTEREST 82255 2584853 X 10377026 251121 251121 10125905 14139 14139 10140044 10972429 338157 338157 10634272 14139 14139 10648411 SCHEDULE D, PAGE 3, PART X THE INTERNAL REVENUE SERVICE HAS RULED THAT THE ORGANIZATION IS EXEMPT FROM THE PAYMENT OF FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A CHARITABLE ORGANIZATION. THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED ASC 740-10-05 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" THAT CLARIFIED THE ACCOUNTING AND RECOGNITION FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ORGANIZATION'S INCOME TAX RETURNS. THE ORGANIZATION ADOPTED THE STANDARD IN 2010. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE ORGANIZATION'S OPEN AUDIT PERIODS ARE 2020 THROUGH 2022. IN EVALUATING THE ORGANIZATION'S TAX PROVISIONS AND ACCRUALS, FUTURE TAXABLE INCOME AND THE REVERSAL OF TEMPORARY DIFFERENCES, INTERPRETATIONS OF TAX PLANNING STRATEGIES ARE CONSIDERED. THE ORGANIZATION BELIEVES THEIR ESTIMATES ARE BASED ON CURRENT FACTS AND CIRCUMSTANCES. SCHEDULE D, PAGE 4, PART XI, LINE 2D ELIZABETH H & CYRUS V GIDDINGS CORPORATION REVENUE 176,961 RC MANAGEMENT S CORP REVENUE 74,160 SCHEDULE D, PAGE 4, PART XI, LINE 4B MANAGEMENT FEES 14,139 SCHEDULE D, PAGE 4, PART XII, LINE 2D ELIZABETH H & CYRUS V GIDDINGS CORPORATION EXPENSES 262,179 RC MANAGEMENT S CORP EXPENSES 75,978 SCHEDULE D, PAGE 4, PART XII, LINE 4B MANAGEMENT FEES 14,139 false false false false false false false false false DAVID G POPE CEO 187144 59098 187144 59098 A ILLINOIS FINANCE AUTHORITY REVBOND 861091967 45188RWS4 2017-01-01 20000000 REFINANCE CONVENTIONAL LOAN false false false A 2008 false false false false A false false false false false false false A false false false false true false false false false A false PURPOSE OF ISSUE DESCRIPTION ILLINOIS FINANCE AUTHORITY REV.BONDS REFINANCE CONVENTIONAL LOAN FORM 990 - ORGANIZATION'S MISSION THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. FORM 990, PAGE 6, PART VI, LINE 11B THE CONTROLLER AND EXECUTIVE DIRECTOR WILL REVIEW THE 990 AND ONCE THEY HAVE COMPLETED THEIR REVIEW THE 990 WILL BE PRESENTED TO THE BOARD PRESIDENT AND TREASURER FOR REVIEW AND SIGNATURE. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS HAS THE RESPONSIBILITY FOR FORMULATING THE POLICIES AND PROGRAMS OF THE ORGANIZATION. SUPERVISING AND IMPLEMENTING THE POLICIES AND TAKING THE NECESSARY CORRECTIVE ACTION TO PROMOTE THE CENTER'S GOALS ARE ENFORCED AT EACH OF THE MONTHLY REGULARLY SCHEDULED MEETINGS. IN ADDITION A HANDBOOK CONTAINS THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. MONITORING INCLUDES THE ORGANIZATION'S PROCUREMENT POLICY WHICH REQUIRES A BID PROCESS AND EXECUTIVE DIRECTOR OVERSIGHT FOR PURCHASES OF 5,000.00 OR MORE. PURCHASES OF 20,000.00 OR MORE REQUIRE A SEALED BID PROCESS AND APPROVAL BY THE BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR MAINTAINS AN OPEN DOOR POLICY WHICH ALLOWS EMPLOYEES TO FREELY COME FORWARD WITH ANY ISSUES. FORM 990, PAGE 6, PART VI, LINE 15A ALL POSITIONS HAVE A WRITTEN JOB DESCRIPTION DESCRIBING FUNCTIONS TO BE PERFORMED, EDUCATION REQUIRED, AND NUMBER OY YEARS OF WORK EXPERIENCE REQUIRED. THE WORK PERFORMANCE OF EACH INDIVIDUAL IS CAREFULLY EVALUATED AND REVIEWED AT LEAST ONCE ON AN ANNUAL BASIS. SALARY ADVANCEMENT IS BASED UPON THE FINANCIAL CIRCUMSTANCES OF THE CORPORATION, THE SALARY RANGE FOR THE POSITION, AND THE EMPLOYEE'S DEMONSTRATED WORK PERFORMANCE. OVERSIGHT OF THE PROCESS SITS WITH THE PERSONAL COMMITTEE COMPRISED OF FOUR MEMBERS OF THE BOARD OF DIRECTORS, THE EXECUTIVE DIRECTOR, AND THE HUMAN RESOURCE DIRECTOR. FORM 990, PAGE 6, PART VI, LINE 15B SEE ABOVE EXPLANATION WHICH COVERS PROCESS OF THE COMPENSATION PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 THE GOVERNING DOCUMENTS WILL BE MADE AVAILABLE TO THE PUBIC UPON REQUEST VIA THE U.S. MAIL. OR E- MAIL SERVICE. FORM 990, PART XI, LINE 9 REMOVAL OF RELATED PARTY EQUITY 1,000 A & L LLC 1018 N AUSTIN 908 S LOMBARD OAK PARK IL 60304 371785948 OWNS BUILD IL 196222 3892424 OPRC OAK PARK RESIDENCE CORPORATION THE OAKS LLC 114 S HUMPHREY OAK PARK IL 60302 263918817 OWNS APT IL 1076561 2374353 OPRC OAK PARK RESIDENCE CORPORATION ELIZABETH H & CYRUS V GIDDINGS CO 21 SOUTH BOULEVARD OAK PARK IL 60302 363846104 HOUSING IL 501C3 10 OPRC false RC MANAGEMENT SERVICES 21 S BOULEVARD OAK PARK IL 60302 270896947 PROP.MGMT. IL N/A C CORP 74160 13062 1.00000 false false false false false false false false false false false false false false false true false false false false ELIZABETH AND CYRUS GIDDINGS CORP O 30758 GROSS PAID WAGES