2024-11-15T16:02:33-06:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 455203995 HOUSING AND ECONOMIC CONCEPTS INC HOUS 3172365959 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 JANETTE O'BRIEN PRESIDENT 3178463111 2024-11-14 1 0 KELLI A MCKINZIE P01264971 3178485700 2023 2024-10-15 13:58:12Z JANETTE O'BRIEN 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 1907123 0 X WWW.KITTLEPROPERTIES.COM X 2012 IN HOUSING AND ECONOMIC CONCEPTS, INC. ("HEC") IS AN INDIANA NOT-FOR-PROFIT CORPORATION (THE "CORPORATION") INCORPORATED ON APRIL 24, 2012. THE CORPORATION WAS ORGANIZED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MISSION OF THE CORPORATION IS TO PARTICIPATE IN HOUSING UNDERTAKINGS THAT FOSTER AND SUPPORT VULNERABLE POPULATIONS, AND ACQUIRE, CONSTRUCT AND/OR OTHERWISE MAINTAIN HOUSING TO PROVIDE SAFE, DECENT AND AFFORDABLE HOUSING TO LOW AND MODERATE INCOME CITIZENS. 8 7 0 0 0 0 0 0 501301 1624254 284653 267778 0 15091 785954 1907123 0 0 0 0 33216 34399 0 0 0 865937 1945543 899153 1979942 -113199 -72819 4401861 4071770 395429 138157 4006432 3933613 X HOUSING AND ECONOMIC CONCEPTS, INC. ("HEC") IS AN INDIANA NOT-FOR-PROFIT CORPORATION (THE "CORPORATION") INCORPORATED ON APRIL 24, 2012. THE CORPORATION WAS ORGANIZED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MISSION OF THE CORPORATION IS TO PARTICIPATE IN HOUSING UNDERTAKINGS THAT FOSTER AND SUPPORT VULNERABLE POPULATIONS, AND ACQUIRE, CONSTRUCT AND/OR OTHERWISE MAINTAIN HOUSING TO PROVIDE SAFE, DECENT AND AFFORDABLE HOUSING TO LOW AND MODERATE INCOME CITIZENS. 0 0 1963577 1907123 THE MISSION OF THE CORPORATION IS TO PARTICIPATE IN HOUSING UNDERTAKINGS THAT FOSTER AND SUPPORT VULNERABLE POPULATIONS, AND ACQUIRE, CONSTRUCT AND/OR OTHERWISE MAINTAIN HOUSING TO PROVIDE SAFE, DECENT AND AFFORDABLE HOUSING TO LOW AND MODERATE INCOME CITIZENS. 1963577 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 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 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 1 1 IN X KITTLE PROPERTY GROUP 3178463111 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 X PATRICIA GAMBLE-MOORE FORMER PRESIDENT 0.10 X X 0 0 0 JENICE L MYERS EXECUTIVE DIRECTOR 2.00 X X 0 0 0 JANETTE O'BRIEN PRESIDENT 0.10 X X 0 0 0 LEIGH RILEY EVANS DIRECTOR 0.10 X 0 0 0 JULIA HUFFMAN DIRECTOR 0.10 X 0 0 0 JEFFREY L KITTLE DIRECTOR 0.10 X 0 0 0 SEAN O'CONNOR DIRECTOR 0.10 X 0 0 0 LORI PHILLIPS-STEELE DIRECTOR 0.10 X 0 0 0 0 0 0 0 0 0 0 0 RENTAL INCOME 531390 1564291 1564291 SERVICING FEES 531390 59963 59963 1624254 267778 267778 MISC. REVENUE 531390 15091 15091 15091 1907123 1907123 0 0 28493 28493 3780 3780 2126 2126 15823 15823 542 542 1692111 1692111 825 825 BAD DEBTS 236242 236242 1979942 1963577 16365 0 757566 755500 617799 691272 742927 763355 518954 534184 500318 372894 1264297 954565 4401861 4071770 6513 13120 68037 56444 320879 65703 0 2890 395429 138157 X 4006432 3933613 4006432 3933613 4401861 4071770 -72819 0 X X 0 1 X 1 0 X 4250 634000 638250 253703 1236966 1103623 532413 1655227 4781932 257953 1236966 1737623 532413 1655227 5420182 23946 617319 634000 1275265 206507 557797 32812 84359 22262 903737 230453 1175116 666812 84359 22262 2179002 3241180 89 577 564 1230 257953 1236966 1737712 532990 1655791 5421412 0.59780 0.42070 0.00000 X SCHEDULE A, PART III, SECTION A, LINE 1 2019 UNUSUAL GRANTS NOT REPORTED ON SCHEDULE A, PART III: * $320,249: 2019 BAD DEBT ALLOWANCE FOR AHP & HOME LOANS ON PAGE 1, NOT ON SCH A * $1,179: PROGRAM SERVICE REVENUE ON PAGE 1 NOT ON SCH A ON PAE 1, NOT ON SCH A 2020 UNUSUAL GRANTS NOT REPORTED ON SCHEDULE A, PART III: * $321,150: 2020 BAD DEBT ALLOWANCE FOR AHP & HOME LOANS ON PAGE 1, NOT ON SCH A 2021 UNUSUAL GRANTS NOT REPORTED ON SCHEDULE A, PART III: *$222,959: 2021 BAD DEBT ALLOWANCE FOR AHP & HOME LOANS ON PAGE 1, NOT ON SCH A 2022 UNUSUAL GRANTS NOT REPORTED ON SCHEDULE A, PART III: *$252,962: 2022 BAD DEBT ALLOWANCE FOR AHP & HOME LOANS ON PAGE 1, NOT ON SCH A 2023 UNUSUAL GRANTS NOT REPORTED ON SCHEDULE A, PART III: *$236,242: 2023 BAD DEBT ALLOWANCE FOR AHP & HOME LOANS ON PAGE 1, NOT ON SCH A *$15,091 MISC. INCOME ON PAGE 1, NOT ON SCH A 0 INVESTMENT IN PILGRIM PLACE -19369 C INVESTMENT IN CENTRAL APTS. 371011 C INVESTMENT IN LASALLE 61766 C INVESTMENT IN LOFTS AT ASHFORD 100 C INVESTMENT IN JERMAN HOUSING 2985 C INVESTMENT IN PORTLAND PLACE -43638 C INVESTMENT IN WHITE RIVER 44 C INVESTMENT IN LAFAYETTE LANDING -5 C 372894 DEVELOPMENT FEE RECEIVABLE 954565 954565 ACCRUED EXPENSES 2890 2890 X 342268 0 342268 1564855 1564855 1907123 675047 387384 387384 287663 1692279 1692279 1979942 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL REVENUE FROM PASS-THROUGH INVESTMENTS 1,564,291. INTEREST INCOME FROM PASS-THROUGH INVESTMENTS 564. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAAP EQUITY IN SUBSIDIARY INCOME 387,384. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE FROM PASS-THROUGH INVESTMENTS 1,692,279. KITTLE PROPERTY GROUP INC 35% CONTROLLED ENTITY FEES PYBL X 518400 65703 0 1 1 HERMAN AND KITTLE PROPERTIES INC 35% CONTROLLED ENTITY ADVANCE PYBL X 9141 0 1 1 KITTLE PROPERTY GROUP INC 35% CONTROLLED ENTITY ADVANCE PYBL X 854 696 0 1 1 STARR SENIOR APARTMENTS LP 35% CONTROLLED ENTITY AHP LOAN AND ACCRUED INTEREST X 250000 0 1 1 PORTLAND PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY AHP LOAN AND ACCRUED INTEREST X 380000 0 1 1 PILGRIM PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY AHP LOAN AND ACCRUED INTEREST X 400000 0 1 1 JERMAN HOUSING LP 35% CONTROLLED ENTITY AHP LOAN AND ACCRUED INTEREST X 360000 0 1 1 TYSON SCHOOL APARTMENTS LP 35% CONTROLLED ENTITY AHP LOAN AND ACCRUED INTEREST X 500000 0 1 1 STARR SENIOR APARTMENTS LP 35% CONTROLLED ENTITY HOME LOAN AND ACCRUED INTEREST X 238000 0 1 1 PORTLAND PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY HOME LOAN AND ACCRUED INTEREST X 300000 0 1 1 PILGRIM PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY HOME LOAN AND ACCRUED INTEREST X 264000 0 1 1 JERMAN HOUSING LP 35% CONTROLLED ENTITY HOME LOAN AND ACCRUED INTEREST X 300000 0 1 1 TYSON SCHOOL APARTMENTS LP 35% CONTROLLED ENTITY HOME LOAN AND ACCRUED INTEREST X 300000 0 1 1 STARR SENIOR APARTMENTS LP 35% CONTROLLED ENTITY OPERATING DEFICIT LOAN X 38982 0 1 1 TYSON SCHOOL APARTMENTS LP 35% CONTROLLED ENTITY OPERATING DEFICIT LOAN X 42283 42283 0 1 1 PORTLAND PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY FEES RECEIVABLE X 0 359420 0 1 1 TYSON SCHOOL APARTMENTS LP 35% CONTROLLED ENTITY FEES RECEIVABLE X 0 120018 0 1 1 JERMAN PLACE JERMAN HOUSING LP 35% CONTROLLED ENTITY FEES RECEIVABLE X 0 40000 0 1 1 PORTLAND PLACE SENIOR HOUSING LP 35% CONTROLLED ENTITY DEFERRED DEVELOPMENT FEE RECEIVABLE X 0 116552 0 1 1 CENTRAL APARTMENTS LP 35% CONTROLLED ENTITY DEFERRED DEVELOPMENT FEE RECEIVABLE X 0 84386 0 1 1 829058 KITTLE PROPERTY GROUP INC DISQUALIFIED PERSON LIH GUARANTEE FEE 0 PILGRIM PLACE SENIOR HOUSING INVESTOR LLC DISQUALIFIED PERSON LOAN REPAYMENT 0 STARR SENIOR HOUSING APARTMENTS DISQUALIFIED PERSON LOAN REPAYMENT 0 CENTRAL APARTMENTS DISQUALIFIED PERSON MANAGEMENT FEES 0 STARR SENIOR HOUSING APARTMENTS DISQUALIFIED PERSON MANAGEMENT FEES 0 SCHEDULE L, PART II HERMAN AND KITTLE PROPERTIES INC. IS A 35% CONTROLLED ENTITY PURSUANT TO IRC SECTION 4958(F)(3). FORM 990, PART VI, SECTION A, LINE 2 ALL MEMBERS OF THE BOARD ARE AFFILIATED WITH THE AFFORDABLE HOUSING INDUSTRY. JEFFREY L. KITTLE IS PRESIDENT OF KITTLE PROPERTY GROUP, INC. (FORMERLY HERMAN & KITTLE PROPERTIES, INC.), AND JENICE MYERS IS AN EMPLOYEE OF KITTLE PROPERTY GROUP, INC. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE RETURN IS SENT TO EACH INDIVIDUAL ON THE BOARD PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH THE POLICY, ANY PERSONS WHO HAVE A CONFLICT OF INTEREST WILL BE REQUIRED TO REPORT THAT CONFLICT AND WILL NOT BE PERMITTED TO VOTE ON ANY DECISIONS REGARDING THOSE CONFLICTED MATTERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: 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. PILGRIM PLACE SENIOR HOUSING LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 352121281 LOW INCOME HOUSING RENTALS IN N/A RELATED 1146721 0 0 0.99990 CENTRAL APARTMENTS LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 421748211 LOW INCOME HOUSING RENTALS IN N/A RELATED -97960 3261207 0 0 0.99990 PORTLAND PLACE SENIOR HOUSING LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 481253417 LOW INCOME HOUSING RENTALS IN N/A RELATED -26007 1366837 0 0 0.99990 RELIANCE-LASALLE ASSOCIATES LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 452696077 LOW INCOME HOUSING RENTALS LA N/A RELATED -3440 1720809 0 0 0.01000 TYSON SCHOOL APARTMENTS LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 020655631 LOW INCOME HOUSING RENTALS IN N/A RELATED 6851 0 0 0.99990 JERMAN HOUSING LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 320025786 LOW INCOME HOUSING RENTALS IN N/A RELATED 1548038 0 0 0.99990 THE RESERVE AT WHITE RIVER LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 831333873 LOW INCOME HOUSING RENTALS IN N/A RELATED -12 247 0 0 0.00000 LAFAYETTE LANDING AT KESSLER LP 310 E 96TH STREET SUITE 400 INDIANAPOLIS IN 46240 273929160 LOW INCOME HOUSING RENTALS IN N/A RELATED -5 153981 0 0 0.00010 CENTRAL SCHOOL GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 463519441 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -114298 1.00000 0 HOOSIER PLACE GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 463533552 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -105961 1.00000 0 PILGRIM PLACE SENIOR HOUSING GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 473324324 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -35606 1.00000 0 CENTRAL APARTMENTS GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 463508504 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -10 9812 1.00000 0 PORTLAND PLACE SENIOR HOUSING GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 463564276 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -28500 1.00000 0 LAMMERS PIKE GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 473217760 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -146701 1.00000 0 LASALLE GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 813297996 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -30 4359 1.00000 0 TYSON SCHOOL GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 815381208 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C 99274 1.00000 0 JERMAN HOUSING GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 822787222 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -40521 1.00000 0 THE LOFTS AT ASHFORD GP LLC 310 EAST 96TH ST SUITE 400 INDIANAPOLIS IN 46240 833554398 GENERAL PARTNER OF LOW INCOME HOUSING PROJECT IN HOUSING AND ECONOMIC CONCEPTS INC C -11 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1