2024-11-12T21:51:20-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 2 BETHESDA METRO CENTER SUITE 420 BETHESDA MD 20814 990 2023-01-01 526079918 SCOTLAND COMMUNITY DEVELOPMENT INC SCOT 3019832248 7838 SCOTLAND DRIVE POTOMAC MD 20854 IRIS NEAL PRESIDENT 3012995066 2024-11-12 1 1 TRACY CAI P01959755 3016523464 2024-10-28 2023 2024-10-15 13:58:12Z IRIS NEAL 7838 SCOTLAND DRIVE POTOMAC MD 20854 513171 0 X N/A X 1965 MD TO PROVIDE HOUSING TO LOW INCOME RESIDENTS UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT. 10 10 0 12 0 0 0 0 367787 440302 5648 72869 0 0 373435 513171 2190 3951 0 0 0 0 0 0 0 43997 60278 46187 64229 327248 448942 7677378 8129015 15987 11538 7661391 8117477 X PROVIDING HOUSING TO LOW INCOME RESIDENTS UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT. 0 0 3951 3951 440302 SCOTLAND COMMUNITY DEVELOPMENT, INC. WAS INCORPORATED ON JUNE 11, 1965 AS A NOT-FOR-PROFIT, NON-STOCK CORPORATION IN ORDER TO CARRY OUT ITS PURPOSE TO DEVELOP, CONSTRUCT, OWN, MANAGE AND MAINTAIN A 75 UNIT LOW INCOME HOUSING APARTMENT COMPLEX IN POTOMAC, MARYLAND.ON DECEMBER 4, 2017, THE ENTITY SOLD ITS APARTMENT COMPLEX AND RELATED ASSETS TO SCOTLAND TOWNHOMES LIMITED PARTNERSHIP (THE "PARTNERSHIP") FOR $4,500,000. THIS SALE ALSO RESULTED IN THE ENTITY PROVIDING A $4,000,000 LOAN TO THE PARTNERSHIP. THE ENTITY HAS A 20% INTEREST IN SCOTLAND GENERAL PARTNERSHIP, LLC, WHO ARE PART OF THE PARTNERSHIP AND MADE A $200,000 INITIAL INVESTMENT IN THE PARTNERSHIP.SUBSEQUENT TO THE SALE, THE PARTNERSHIP ENTERED INTO A USER AGREEMENT WITH THE STATE OF MARYLAND WHICH ESTABLISHES HUD'S CRANSTON-GONZALEZ NATIONAL AFFORDABLE HOUSING ACT, SECTION 811 PROJECT RENTAL ASSISTANCE DEMONSTRATION PROGRAMS TO PROVIDE RENTAL ASSISTANCE TO PERSONS WITH DISABILITIES AT THE SCOTLAND TOWNHOMES. 3951 1 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 0 1 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 X IRIS NEAL 3019832248 7838 SCOTLAND DRIVE POTOMAC MD 20854 X IRIS NEAL PRESIDENT/DIRECTOR 0.30 X X 0 0 0 DIANE QUINN TILLERY VICE PRESIDENT/DIRECTOR 0.30 X X 0 0 0 AMAL FALLAH SECRETARY/ DIRECTOR 0.30 X X 0 0 0 MELISSA BARRINGTON DIRECTOR 0.30 X 0 0 0 DONNA BOXER DIRECTOR THRU SEPT 2023 0.30 X 0 0 0 KAY FREEMAN DIRECTOR 0.30 X 0 0 0 JANE HOUSTON DIRECTOR THRU MAR 2023 0.30 X 0 0 0 VIRGINIE MBA MAHAKOM DIRECTOR 0.30 X 0 0 0 PATRICIA MASON DIRECTOR 0.30 X 0 0 0 FATU SAMSUMANA DIRECTOR 0.30 X 0 0 0 MICHAEL SHAHADEH DIRECTOR 0.30 X 0 0 0 JAMES WATSON DIRECTOR 0.30 X 0 0 0 0 0 0 0 0 0 0 0 PROGRAM RELATED INT. 531110 240000 240000 RENTAL INCOME 531110 124500 124500 DEVELOPMENT FEE 531110 72515 72515 GROUND LEASE INTEREST 531110 3287 3287 440302 72869 72869 513171 440302 0 72869 3951 3951 29015 29015 9450 9450 4985 4985 3250 3250 2046 2046 11112 11112 REPAIRS AND MAINTENANCE 400 400 MISC. ADMIN EXPENSES 20 20 64229 3951 60278 0 56 56 1757299 1841149 638934 766721 2275 2275 5278814 5518814 7677378 8129015 15987 11538 15987 11538 X 7661391 8117477 7661391 8117477 7677378 8129015 448942 7144 0 X 0 0 0 X 371919 367787 367787 367787 440302 1915582 371919 367787 367787 367787 440302 1915582 0 235000 235000 235000 235000 234868 1174868 235000 235000 235000 235000 234868 1174868 740714 36634 16365 469 5648 72869 131985 36634 16365 469 5648 72869 131985 408553 384152 368256 373435 513171 2047567 0.36180 0.36860 0.06450 0.04160 X 0 MORTGAGE RECEIVABLE FROM SCOTLAND TOWNHOMES LP 5318875 C INVESTMENT IN SCOTLAND TOWNHOMES LP 199939 C 5518814 FORM 990, PART VI, SECTION A, LINE 4 THE ARTICLES OF INCPORATION AND BY-LAWS WERE AMENDED BY THE BOARD OF DIRECTORS IN 2023. CHANGES MADE TO THE AMENDED ARTICLE OF INCORPORATION AND AMENDED BY-LAWS, INCLUDED THE FOLLOWING PRINCIPAL REVISIONS, IN ADDITION TO OTHER SMALLER CHANGES: - ARTICLE IV, TYPE OF MEMBERS UPDATED TO RENTAL RESIDENTS AND HOMEOWNERS - ARTICLE V, MEMBERS SHALL ELECT TWO DIRECTORS FOR A TERM OF ONE YEAR; TWO DIRECTORS FOR A TERM OF TWO YEARS; TWO DIRECTORS FOR A TERM OF THREE YEARS; AND ONE DIRECTOR FOR A TERM OF THREE YEARS; AND, AS THE TERMS OF SUCH DIRECTORS EXPIRE, NEW DIRECTORS SHALL BE ELECTED BY THE MEMBERS AT EACH ANNUAL MEETING THEREAFTER FOR TERMS OF THREE (3) YEARS EACH. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS THE FOLLOWING CLASSES OF MEMBERS: A) RENTAL RESIDENTS B) HOMEOWNERS FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS OF THE CORPORATION. IN ADDITION, EACH MEMBER HAVING VOTING POWER SHALL BE ENTITLED TO VOTE ON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD ACTED AS A WHOLE ON ALL MATTERS AND NO COMMITTEES WERE APPOINTED DURING THE CALENDAR YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED BY THE PRESIDENT PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.