2024-11-12T15:54:25-06:00 2023-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2023-01-01 742177138 Villages Ltd VILL 9704162910 1715 W Mountain Avenue Fort Collins CO 80521 Tonya Frammolino CFO 9704162910 2024-11-12 1 1 Lisa Chaffee CPA P00193453 7012551091 2024-11-12 2023 2024-10-15 13:58:12Z Tonya Frammolino 1715 W Mountain Avenue Fort Collins CO 80521 11417861 0 X www.housingcatalyst.com X 1980 CO To provide affordable housing for the elderly and low-income families of Fort Collins, Colorado. 8 8 0 8 0 0 0 1178197 2451900 2653442 30024 6813538 0 0 2481924 10645177 0 120000 0 0 201802 363803 0 0 0 1925984 2585210 2127786 3069013 354138 7576164 23852035 31071476 822275 465552 23029760 30605924 To provide and promote adequate and affordable housing, economic opportunity, and a safe living environment free from discrimination. 0 0 2959333 120000 3117883 Villages, Ltd. was established in 1980 as a 501(c)(3) organization whose purpose is to acquire, develop and preserve affordable housing for the elderly and low-income families of Fort Collins, Colorado. The Organization owns and manages a total of 200 residential units and has thus helped thousands of low-income families in the Fort Collins community over the past 30 years. The organization currently manages 200 residential units. 2959333 1 1 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 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 8 8 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 0 0 0 X Tara Gaffney 9704162910 1715 W Mountain Avenue Fort Collins CO 80521 Julie Brewen Secretary/Treasurer/CEO 10.00 40.00 X X 0 236064 32772 Cathy Mathis Director 1.00 1.00 X 0 0 0 Jennifer Wagner President 1.00 1.00 X X 0 0 0 Lizette Mill Vice President 1.00 1.00 X X 0 0 0 David Bye Director (thru May) 1.00 1.00 X 0 0 0 Emily Francis Director 1.00 1.00 X 0 0 0 Ann Green Director 1.00 1.00 X 0 0 0 Hepburn Wilkins Director 1.00 1.00 X 0 0 0 Anne Nelsen Director 1.00 1.00 X 0 0 0 Joseph Penta Director 1.00 1.00 X 0 0 0 Tonya Frammolino CFO 10.00 40.00 X 0 179533 46256 0 415597 79028 0 0 1 0 0 1178197 1178197 Rental Income 531110 2210005 2210005 Interest Income 531390 340224 340224 Other Tenant Income 531390 47053 47053 56160 56160 2653442 226779 226779 7359443 772684 6586759 6586759 6586759 10645177 2653442 0 6813538 X 120000 120000 363803 359808 3995 230966 228430 2536 15617 15445 172 188031 185966 2065 38000 38000 60 59 1 346762 343325 3437 17115 16927 188 243043 236502 6541 414 409 5 55 55 560531 529987 30544 93692 93172 520 Repairs and Maintenance 795324 774171 21153 Bad Debt Expense 52935 52935 Other Financing Costs 500 500 2165 2142 23 3069013 2959333 109680 0 80887 83140 9460279 5378908 47685 71708 2186 18079166 8012439 5224152 10066727 8386013 14758819 653019 709988 23852035 31071476 598615 177462 7959 9158 78532 79846 137169 199086 822275 465552 X 23029760 30605924 23029760 30605924 23852035 31071476 7576164 0 X 0 1 X 1 0 X 500000 1178197 1678197 2980272 2891946 2578768 2451900 2653442 13556328 2980272 2891946 3078768 2451900 3831639 15234525 0 0 0 15234525 57140 12628 1759 37943 226779 336249 57140 12628 1759 37943 226779 336249 3037412 2904574 3080527 2489843 4058418 15570774 0.97840 0.98960 0.02160 0.01040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 2164517 2164517 14743780 7635343 7108437 651030 263956 387074 492422 113140 379282 27417 27417 10066727 Notes Receivable 14758819 C 14758819 Due to Housing Catalyst 72717 Deferred Infow of Resources 126369 199086 10645177 0 10645177 0 10645177 3069013 0 3069013 0 3069013 Part IV, Line 2b: The Organization holds funds on behalf of its tenants for security deposits. 0 Housing Catalyst 1715 W Mountain Ave Fort Collins CO 80521 840069194 120000 0 Resident Service 0 1 0 0 0 0 0 0 0 0 0 Julie Brewen Secretary/Treasurer/CEO 0 234790 0 0 0 1274 0 25492 0 8561 0 270117 0 0 Tonya Frammolino CFO 0 178788 0 0 0 745 0 19039 0 28455 0 227027 0 0 Form 990, Part VI, Section A, line 3 The CEO and CFO are compensated by a related management company, Housing Catalyst, for services provided to both Villages, Ltd and Housing Catalyst. Villages, Ltd pays Housing Catalyst for administrative fees that include CEO and CFO services. The agreement does not specifically identify the breakout of CEO and CFO services from other administrative fees. The overall fees paid to Housing Catalyst is reported in Form 990, Part IX, line 11a. The compensation reported on Part VII reflects the CEO and CFO compensation for all services to all entities. Form 990, Part VI, Section A, line 8b There are no committees that can act on behalf of the governing board. Form 990, Part VI, Section B, line 11b The members of the board are provided a copy of the Form 990 to review prior to filing. Form 990, Part VI, Section B, line 12c The Organization performs an annual review of its conflict of interest policy. All officers, trustees, and other employees are required annually to review the policy and disclose any potential conflicts that may be occurring or may potentially occur. The Villages' legal counsel and President of the Board of Directors shall review any potential conflicts to determine if one exists. Should a conflict exist the respective individual with the conflict shall refrain from further discussions and voting on the issue. Form 990, Part VI, Section B, line 15 The Organization does not compensate its officers or Board of Directors. An related management company, Housing Catalyst, performed administrative and management services and does not pay the CEO, CFO or board members specifically for the services provided to Villages, Ltd. Housing Catalyst reviews the officer compensation for reasonableness. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Form 990, Part IX, Lines 7 and 9: The salaries and benefits reported on the Part IX Functional Expenses represents the reimbursement of expenses by the filing organization to an unrelated management company. The unrelated management company acts as a common paymaster and files the respective W-2s. Housing Catalyst 1715 W Mountain Ave Fort Collins CO 80521 840069194 Affordable Housing CO N/A 0 Village on Plum LLLP 1715 W Mountain Ave Fort Collins CO 80521 383930859 Affordable Housing CO N/A 0 0 Village on Stanford LLLP 1715 W Mountain Ave Fort Collins CO 80521 262088769 Affordable Housing CO N/A 0 0 Village on Redwood LLLP 1715 W Mountain Ave Fort Collins CO 80521 810947012 Affordable Housing CO N/A 0 0 Village on Horsetooth LLLP 1715 W Mountain Ave Fort Collins CO 80521 814559844 Affordable Housing CO N/A 0 0 Village on Shields LLLP 1715 W Mountain Ave Fort Collins CO 80521 611808185 Affordable Housing CO N/A 0 0 Mason Place LLLP 1715 W Mountain Ave Fort Collins CO 80521 840691948 Affordable Housing CO N/A 0 0 Redtail Ponds Permanent Supportive Housing LLLP 1715 W Mountain Ave Fort Collins CO 80521 463360423 Affordable Housing CO N/A 0 0 Oak 140 LLLP 1715 W Mountain Ave Fort Collins CO 80521 862994948 Affordable Housing CO N/A 0 0 Village on Impala LLLP 1715 W Mountain Ave Fort Collins CO 80521 923471595 Affordable Housing CO N/A 0 0 Village on Elizabeth LLLP 1715 W Mountain Ave Fort Collins CO 80521 208273022 Affordable Housing CO Villages Ltd Related 937926 0 0 0.99990 Redtail Ponds Permanent Supportive Housing LLC 1715 W Mountain Ave Fort Collins CO 80521 463296100 Affordable Housing CO N/A C 0 Village on Plum LLC 1715 W Mountain Ave Fort Collins CO 80521 465410764 Affordable Housing CO N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0