2024-11-05T10:24:13-06:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 954269192 LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION LOSA 6262966298 700 W MAIN STREET ALHAMBRA CA 91801 CAROLINA ROMO AUTHORIZED SIGNER 6262966298 2024-11-04 1 0 EVAN ANTTONEN P01925603 3178485700 2023 2024-10-15 13:58:12Z EMILIO SALAS 700 W MAIN STREET ALHAMBRA CA 91801 1157900 0 X N/A X 1989 CA LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION WAS INCORPORATED ON OCTOBER 16, 1989 AS A NONPROFIT PUBLIC BENEFIT CORPORATION, TO CONSTRUCT, OWN AND OPERATE A 35 UNIT APARTMENT PROJECT LOCATED IN THE UNINCORPORATED WILLOWBROOK AREA OF LOS ANGELES COUNTY, CALIFORNIA, KNOWN AS CANNON APARTMENTS PROJECT. THE PROJECT WAS ENDORSED FOR INSURANCE UNDER SECTION 241(F) OF THE NATIONAL HOUSING ACT, WITH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT. ALL OF THE UNITS QUALIFY FOR FEDERAL RENT SUBSIDY PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED. 3 3 0 0 0 0 503861 519581 727358 620416 149 329 7696 17574 1239064 1157900 0 0 0 0 0 0 0 0 0 1459796 1551767 1459796 1551767 -220732 -393867 10667458 10565254 11476907 11768570 -809449 -1203316 X LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION WAS INCORPORATED ON OCTOBER 16, 1989 AS A NONPROFIT PUBLIC BENEFIT CORPORATION, TO CONSTRUCT, OWN AND OPERATE A 35 UNIT APARTMENT PROJECT LOCATED IN THE UNINCORPORATED WILLOWBROOK AREA OF LOS ANGELES COUNTY, CALIFORNIA, KNOWN AS CANNON APARTMENTS PROJECT (THE "PROJECT"). THE PROJECT WAS ENDORSED FOR INSURANCE UNDER SECTION 241(F) OF THE NATIONAL HOUSING ACT, WITH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT. ALL OF THE UNITS QUALIFY FOR FEDERAL RENT SUBSIDY PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED. 0 0 1316774 620416 LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION WAS INCORPORATED ON OCTOBER 16, 1989 AS A NONPROFIT PUBLIC BENEFIT CORPORATION, TO CONSTRUCT, OWN AND OPERATE A 35 UNIT APARTMENT PROJECT LOCATED IN THE UNINCORPORATED WILLOWBROOK AREA OF LOS ANGELES COUNTY, CALIFORNIA, KNOWN AS CANNON APARTMENTS PROJECT. THE PROJECT WAS ENDORSED FOR INSURANCE UNDER SECTION 241(F) OF THE NATIONAL HOUSING ACT, WITH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT. ALL OF THE UNITS QUALIFY FOR FEDERAL RENT SUBSIDY PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED. 1316774 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 1 0 0 0 1 0 0 1 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 1 1 1 0 0 0 0 0 CA X CAROLINA ROMO 6262966298 700 W MAIN STREET ALHAMBRA CA 91801 X X EMILIO SALAS CHAIRMAN 1.00 1.00 X X 0 0 0 MANUEL SALAZAR VICE CHAIRMAN 1.00 1.00 X X 0 0 0 DANIEL WILES SECRETARY 1.00 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 519581 519581 RENTAL INCOME 531110 699433 699433 INVESTOR SERVIE FEE IN 531110 110771 110771 INVESTMENT ACTIVITY IN 531110 -24 -24 INVESTMENT IN ATHENS V 531110 -35 -35 INVESTMENT ACTIVITY IN 531110 -66700 -66700 -123029 -123029 620416 329 329 OTHER REVENUE-MISC. 531110 16706 16706 TENANT CHARGES 531110 868 868 17574 1157900 620416 0 17903 75834 75834 4159 4159 78463 78463 76537 76537 892345 892345 221859 221859 23555 23555 MANAGEMENT COMPANY EMPL 171266 171266 BAD DEBTS 7749 7749 1551767 1316774 234993 0 2560758 2499935 438216 618496 1053 22056 9916717 3881290 6234496 6035427 533619 499867 8648 7609 890668 881864 10667458 10565254 940143 1110227 5131 6727 9417883 9417883 1113750 1233733 11476907 11768570 X -809449 -1203316 -809449 -1203316 10667458 10565254 -393867 0 X X 0 0 0 X 461439 501456 494790 503861 519581 2481127 461439 501456 494790 503861 519581 2481127 2481127 522 205 86 149 329 1291 7989 6188 42025 7696 17574 81472 2563890 3487885 0.96770 0.97020 X SCHEDULE A, PART II, LINE 10: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 455816 455816 8942076 3436595 5505481 104772 46873 57899 414053 397822 16231 6035427 SECURITY DEPOSITS 58687 GROUND LEASE - RIGHT OF USE 823177 881864 INVESTMENT IN SEGUNDO TERRACE 309272 SECURITY DEPOSITS 56780 INVESTMENT IN VILLA NUEVA 8992 GROUND LEASE 858689 1233733 X 1300135 142235 142235 1157900 0 1157900 1551767 0 1551767 0 1551767 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. WILLOWBROOK TOWNHOMES, ALTADENA VISTAS, SEGUNDO TERRACE, AND GUADALUPE TERRACE ARE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES AND, AS SUCH, ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND ARE REPORTED BY THEIR OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THESE ENTITIES' FEDERAL TAX STATUSES AS PASS-THROUGH ENTITIES ARE BASED ON THEIR LEGAL STATUS AS LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES. ACCORDINGLY, THESE ENTITIES ARE NOT REQUIRED TO TAKE ANY TAX POSITIONS IN ORDER TO QUALIFY AS PASS-THROUGH ENTITIES. THESE ENTITIES ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THESE ENTITIES HAVE NO OTHER TAX POSITIONS WHICH THEY MUST CONSIDER FOR DISCLOSURE. THERE HAS BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE CONSOLIDATED STATEMENTS OF PROFIT AND LOSS - CHANGES IN NET ASSETS - WITHOUT DONOR RESTRICTIONS OR CONSOLIDATED STATEMENTS OF FINANCIAL POSITION FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. GENERALLY, THE FEDERAL RETURNS ARE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: & VILLA NUEVA RHCP BOOK/TAX DIFFERENCE IN REVENUE 142,235. FORM 990, PART VI, SECTION A, LINE 3 THE CANNON APARTMENT COMPLEX IS MANAGED BY LEVINE MANAGEMENT GROUP, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. LEVINE MANAGEMENT GROUP HAS A PROJECT OWNERS AND MANAGEMENT AGENTS CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED LEVINE MANAGEMENT GROUP TO MANAGE THE CANNON APARTMENT COMPLEX. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION B, LINE 11B THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREEN TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR KEY EMPLOYEES (SEE PAGE 7, PART VII). FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. ALL DOCUMENT REQUESTS ARE FORWARDED TO THE SECRETARY WHO COMPILES THE INFORMATION AND PROVIDES IT TO THE REQUESTOR. PART VII, SECTION A, LINE 1A, COLUMN B ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. PART XII, LINE 2C THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM. WILLOWBROOK TOWNHOMES LLC 2400 N LINCOLN AVENUE ALTADENA CA 91001 471343670 PROVIDE AFFORDABLE HOUSING CA 131787 1535992 LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION GUADALUPE TERRACE LLC 2400 N LINCOLN AVENUE ALTADENA CA 91001 471348580 PROVIDE AFFORDABLE HOUSING CA 402016 5745998 LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION-1 2400 N LINCOLN AVENUE ALTADENA CA 91001 954378181 PROVIDE AFFORDABLE HOUSING CA 501(C)(3) LINE 6 0 ALTADENA VISTA APT LP 700 W MAIN STREET ALHAMBRA CA 91801 330657184 LOW INCOME RESIDENTIAL HOUSING CA LOW INCOME RENTAL -66700 1186541 0 0 0.99000 SEGUNDO TERRACE LP 700 W MAIN STREET ALHAMBRA CA 91801 954618640 LOW INCOME RESIDENTIAL HOUSING CA LOW INCOME RENTAL -123029 352321 0 1 0.00100 ATHENS VISTAS LP 700 W MAIN STREET ALHAMBRA CA 91801 364817817 LOW INCOME RESIDENTIAL HOUSING CA LOW INCOME RENTAL -35 61286 0 1 0.00000 VILLA NUEVA RHCP LP 700 W MAIN STREET ALHAMBRA CA 91801 464701491 LOW INCOME RESIDENTIAL HOUSING CA LOW INCOME RENTAL -23 22666 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SEGUNDO TERRACE LP R 78500 COST