2024-09-10T08:05:07-05:00 2023-12-31 571157523 Aprio LLP 2002 Summit Boulevard Suite 120 Atlanta GA 30319 990 2023-01-01 300606247 Galleria Manor Senior Development Inc GALL 7704319696 2730 Cumberland Boulevard SE Smyrna GA 30080 Renee Sandell Vice President 7704319696 2024-09-03 1 1 Stacy Cullen P00974308 4048929651 2024-09-03 2023 2024-08-08 14:25:15Z Mark Du Mas 2730 Cumberland Boulevard SE Smyrna GA 30080 949261 0 X n/a X 2010 GA To acquire, construct, own and operate an 88-unit rental housing facility for low-income elderly residents known as Galleria Manor located in Smyrna Georgia. 6 6 0 6 0 0 0 0 941079 853508 11200 58497 0 37256 952279 949261 163197 0 0 0 128975 124876 0 0 0 900596 867135 1192768 992011 -240489 -42750 10820996 10703375 2835216 2760345 7985780 7943030 To acquire, construct, own and operate an 88-unit rental housing facility for low-income elderly residents known as Galleria Manor located in Smyrna Georgia. 0 0 948629 890764 The organization owns and operates an 88-unit rental apartment facility for self-sufficient low-income elderly residents. The organization sponsors the development and operation of affordable housing for low-income individuals to meet the housing needs of low-income residents. 948629 1 0 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 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 GA X Mark Du Mas 7704319696 2730 Cumberland Boulevard SE Smyrna GA 30080 X Mark Du Mas President 1.00 X X 0 0 0 Renee Sandell Vice-President 1.00 X X 0 0 0 Kevin Kirby Secretary 1.00 X X 0 0 0 Betty Jones Boardmember 1.00 X 0 0 0 Julie Bowen Boardmember 1.00 X 0 0 0 Robert Ryan Boardmember 1.00 X 0 0 0 0 0 0 0 0 0 0 0 Rental Income 531110 853508 853508 853508 58497 58497 Miscellaneous Revenue 531110 37256 37256 37256 949261 890764 0 58497 102232 102232 9614 9614 13030 13030 43382 43382 10325 10325 5517 5517 5553 5553 28760 28760 4239 4239 62183 62183 116193 116193 329690 329690 104296 104296 Operating and Maintenan 148111 148111 Compliance Expense 5041 5041 Dues and Subscriptions 1507 1507 Property Taxes 1323 1323 1015 1015 992011 948629 43382 0 69329 169167 1544503 19421 41577 11396 18836 12931844 4166353 9064441 8765491 111906 81168 0 1627136 10820996 10703375 37842 47930 10781 9229 2749457 2650611 37136 52575 2835216 2760345 X 7985780 7943030 7985780 7943030 10820996 10703375 -42750 0 X X 0 1 X 0 0 X 891030 918257 929103 941079 853508 4532977 891030 918257 929103 941079 853508 4532977 0 0 0 4532977 9229 1757 737 11200 58497 81420 9229 1757 737 11200 58497 81420 37256 37256 900259 920014 929840 952279 949261 4651653 0.97450 0.99360 0.01750 0.00640 X 1825290 1825290 11106554 4166353 6940201 8765491 Replacement Reserve 269259 Tax and Insurance Escrow 21790 Compliance Reserve 957597 Operating Reserve 358123 Tenant Security Deposits 20367 1627136 Tenant Security Deposits 19668 Due to Affiliate 32907 52575 X 1218261 269000 269000 949261 0 949261 992011 0 992011 0 992011 Part X, Line 2: The Organization has been classified as a public charity and is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and state taxes under the provisions of the Georgia not-for-profit corporation code, and accordingly, no provision for income taxes has been provided. The Organization is no longer subject to income tax examinations for calendar years prior to 2020. Part XI, Line 2d - Other Adjustments: Annual Amortization of the Section 1602 Grant for book purposes. 269,000. Form 990, Part I, Line 8, Grant Funding The organization secured ARRA section 1602 grant funding of $10,760,000 through the Georgia Housing and Finance Authority of which $6,256,916 was drawn in 2010 and the balance of $4,503,084 was drawn in 2011 for the construction of Galleria Manor which is an 88-unit rental apartment facility for low-income seniors in Smyrna, Georgia. The construction of the facility was completed as of august 15, 2011. The organization is required by the section 1602 grant to remain compliant with the program guidelines for a period of fifteen years. Form 990, Part VI, Section A, line 8b The organization does not have committees with the authority to act on behalf of the board. Form 990, Part VI, Section B, line 11b The President reviews and approves the form 990 prior to its filing. Form 990, Part VI, Section B, line 12c Officers and Directors are reminded of this policy at each board meeting and are asked to disclose any potential conflicts of interest for discussion by the board. Form 990, Part VI, Section C, line 19 The documents are available upon request. Form 990, Part VI, Section B, Line 15: The organization has no paid employees or officers. Directors and officers serve in a volunteer capacity and are not compensated for their services. Form 990, Part VI, Section C, Line 19: The documents are available upon request. Form 990, Part XII, Line 2D, Other Revenue There are no uncertain tax positions under fin 48 (ASC 740-10) disclosed in the audited financial statements and footnotes. Paces Foundation Inc 2730 Cumberland Boulevard Smyrna GA 30080 581949667 Affordable Housing GA 501(C)(3) Sec 509 A(2) No 0 Rosewood Cordele Development Inc 2730 Cumberland Boulevard Smyrna GA 30080 271073169 Affordable Housing GA 501(C)(3) Sec 509 a(2) No 0 Waterford Dublin Development Inc 2730 Cumberland Boulevard Smyrna GA 30080 271073302 Affordable Housing GA 501(C)(3) Sec 509 A(2) No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0