2024-11-15T18:32:26-06:00 2023-12-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2023-07-01 202023995 GRACE HOUSE INC GRAC 3014936000 11400 ROCKVILLE PIKE STE 505 ROCKVILLE MD 20852 LEILA A FINUCANE CEO/PRESIDENT 3014936000 2024-11-15 1 1 JOLANTA TUCK CPA P01340068 3016529100 2024-11-15 2023 2024-10-15 13:58:12Z LEILA A FINUCANE 11400 ROCKVILLE PIKE STE 505 ROCKVILLE MD 20852 1228466 0 X N/A X 2004 MD ASSISTED LIVING RESIDENCE FOR LOW- AND MODERATE-INCOME FRAIL ELDERLY PERSONS. 3 3 0 3 0 0 33228 9419 2403300 1206104 -32360 2664 676 10279 2404844 1228466 75000 0 0 0 0 0 0 0 0 2379603 1335497 2454603 1335497 -49759 -107031 3878321 3955510 3670881 3855101 207440 100409 ASSISTED LIVING RESIDENCE FOR LOW- AND MODERATE-INCOME FRAIL ELDERLY PERSONS. 0 0 1234021 1216383 ASSISTED LIVING RESIDENCE FOR LOW- AND MODERATE-INCOME FRAIL ELDERLY PERSONS. 1234021 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 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 1 0 0 0 1 10 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X SARAH O'RIELLY 3014936000 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 JAMES POPE DIRECTOR 0.50 5.00 X 0 0 0 MICHAEL GILL DIRECTOR 0.50 5.00 X 0 0 0 DONALD TOMASSO DIRECTOR 0.50 5.00 X 0 0 0 JACQUELINE R SMEDLEY VICE PRESIDENT 1.00 39.00 X 0 280402 43589 LEILA A FINUCANE PRESIDENT & CEO 1.00 39.00 X 0 411552 54890 SARAH O'RIELLY SECRETARY (INCOMING) 1.00 39.00 X 0 212802 40398 JEFFREY BLACKWELL ASST SECRETARY 1.00 39.00 X 0 245203 41189 MICHELLE M LIMERES TREASURER 1.00 39.00 X 0 248660 42407 0 1398619 222473 0 0 1 0 0 4224 5195 9419 RENT REVENUE - HOUSING 531110 1203229 1203229 OTHER HOUSING REVENUE 531110 2875 2875 1206104 2664 2664 INSURANCE PROCEEDS 900099 10279 10279 10279 1228466 1216383 0 2664 891079 809489 81590 33 33 19886 19886 13537 13537 4388 4388 14932 14932 1152 1152 49047 49047 1500 1500 55129 55129 83097 83097 REPAIRS & MAINTENANCE 88722 88722 OTHER TAXES & LICENSES 1109 1109 111886 111886 1335497 1234021 101476 0 52320 272089 5306 11990 0 1734 5801059 2437028 3459449 3364031 43253 55573 317993 250093 3878321 3955510 157604 395956 373 373 190991 220427 3318888 3233487 3025 4858 3670881 3855101 X 205940 98909 1500 1500 207440 100409 3878321 3955510 -107031 0 X 0 0 0 X 193490 33228 9419 236137 2177326 2244163 2288725 2403300 1208216 10321730 2177326 2244163 2482215 2436528 1217635 10557867 0 0 0 10557867 4800 2199 1121 8562 2664 19346 4800 2199 1121 8562 2664 19346 1585 676 10278 12539 2182126 2246362 2484921 2445766 1230577 10589752 0.99700 0.99810 0.00180 0.00170 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: CABLE REVENUE - 2021 AMOUNT: $ 1,585. 2022 AMOUNT: $ 676. INSURANCE PROCEEDS - 2023 AMOUNT: $ 10,278. 2023 - SHORT YEAR THE ORGANIZATION CHANGED ACCOUNTING PERIODS FROM JUNE 30TH TO DECEMBER 31ST. ACCORDINGLY THE 2023 COLUMN COVERS THE PERIOD FROM JULY 1, 2023 THROUGH DECEMBER 31, 2023. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 640000 640000 4677166 2062439 2614727 98325 92923 5402 385568 281666 103902 3364031 REPLACEMENT RESERVES 29666 RESIDENT SECURITY DEPOSITS 220427 250093 PREPAID REVENUE 4858 4858 X PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS AS REQUIRED BY STATE LAW. PART X, LINE 2: VICTORY HOUSING INC. AND CERTAIN NON-PROFIT AFFILIATES HAVE APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023. DUE TO THE TAX-EXEMPT STATUS, VICTORY HOUSING INC. AND CERTAIN NON-PROFIT AFFILIATES ARE NOT SUBJECT TO INCOME TAXES. VICTORY HOUSING INC. AND CERTAIN NON-PROFIT AFFILIATES ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES FOR VICTORY HOUSING INC. AND CERTAIN NON-PROFIT AFFILIATES AND THEY HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") HAS ISSUED GUIDANCE WHICH CLARIFIES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES FOR RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE RELATING TO UNCERTAIN TAX POSITIONS. THIS GUIDANCE CLARIFIES THE ACCOUNTING AND RECOGNITION FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE INCOME TAX RETURNS. INCOME TAX RETURNS FILED BY VICTORY ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. 1 PART I, LINE 2: CONTRIBUTION WAS MADE TO AFFILIATE, THEREFORE, THE BOARD IS ABLE TO MONITOR USE OF FUNDS. 0 0 0 0 0 0 0 0 0 LEILA A FINUCANE PRESIDENT & CEO 0 316377 0 91500 0 3675 0 46958 0 7932 0 466442 0 0 JACQUELINE R SMEDLEY VICE PRESIDENT 0 234098 0 45900 0 404 0 34115 0 9474 0 323991 0 0 MICHELLE M LIMERES TREASURER 0 206960 0 41100 0 600 0 30796 0 11611 0 291067 0 0 JEFFREY BLACKWELL ASST SECRETARY 0 204603 0 40000 0 600 0 29686 0 11503 0 286392 0 0 SARAH O'RIELLY SECRETARY (INCOMING) 0 182002 0 29600 0 1200 0 26264 0 14134 0 253200 0 0 PART I, LINE 3 THE PRESIDENT AND CHIEF EXECUTIVE OFFICER RECEIVES COMPENSATION FROM A RELATED ENTITY, VICTORY HOUSING, INC. ("VICTORY HOUSING"). VICTORY HOUSING USES AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE VICTORY HOUSING BOARD TO ESTABLISH COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONE CLASS OF MEMBERSHIP WHICH CONSISTS OF THE ARCHBISHOP OF THE ARCHDIOCESE OF WASHINGTON,THE MODERATOR OF THE CURIA OF THE ARCHDIOCESE OF WASHINGTON, THE CHANCELLOR OF THE ARCHDIOCESE OF WASHINGTON,AND THEIR SUCCESSORS IN OFFICE, EACH AS SELECTED OR APPOINTED ACCORDING TO THE DISCPLINE OF THE ROMAN CATHOLIC CHURCH. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS HAVE THE POWER TO ELECT AND REMOVE MEMBERS TO THE BOARD OF DIRECTORS AND FILL VACANCIES THAT MAY OCCUR. FORM 990, PART VI, SECTION A, LINE 7B THE CORPORATE MEMBERS RESERVE TO THEMSELVES AUTHORITY TO AUTHORIZE THE FOLLOWING ACTIONS: (A)THE OVERSIGHT AND AUTHENTICATION OF THE CORPORATION'S MISSION; (B)THE ADOPTION OR AMENDMENT OF A MISSION STATEMENT; (C)THE AMENDMENT OF THE ARTICLES OF INCORPORATION AND THE AMENDMENT OF THE BYLAWS; (D)THE ELECTION AND REMOVAL OF MEMBERS TO THE BOARD OF DIRECTORS AND THE FILLING OF VACANCIES THAT MAY OCCUR; (E)THE APPOINTMENT AND TERMINATION OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER ("CEO"); (F)THE ACQUISITION, PURCHASE, SALE, LEASE, DISPOSITION OR HYPOTHECATION OF REAL PROPERTY BY CORPORATION; (G)THE APPROVAL OF THE BORROWING OF MONEY OR THE GUARANTEE OF ANY OBLIGATIONS; (H)THE APPROVAL OF ANY BUDGET WHICH REFLECTS AN OPERATING DEFICIT; (I) THE APPROVAL OF FISCAL AUDITORS; (J) THE MERGER, LIQUIDATION, DISSOLUTION, WINDING UP, OR ABANDONMENT OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S RELATED ORGANIZATION, VICTORY HOUSING, HAS A WRITTEN CONFLICT OF INTEREST POLICY. THE BOARD MEMBERS AND OFFICERS OF THE ORGANIZATION ACKNOWLEDGE AND ADHERE TO THIS POLICY, AND THEY ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST. ADDITIONALLY, ANY CONFLICTS THAT ARISE THAT ARE RELATED TO TRANSACTIONS CONSIDERED BY THE BOARD ARE DISCUSSED AT QUARTERLY MEETINGS. FORM 990, PART VI, SECTION B, LINE 15 THOSE MEMBERS OF THE BOARD FOR WHOM COMPENSATION IS REPORTED IN PART VII OF THIS FORM 990 ARE COMPENSATED BY A RELATED ORGANIZATION, VICTORY HOUSING, INC. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. ANDREW KIM HOUSE INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 522219830 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 AVONDALE PARK APARTMENTS INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 522028130 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 BARTHOLOMEW HOUSE INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 521979394 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 BYRON HOUSE INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 521901039 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 CAMBRIDGE APARTMENTS INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 522231301 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 CCS HOUSING INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 562623529 REAL ESTATE DC 501(C)(3) LINE 10 VICTORY HSG 0 CHEVAL COURT INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 202024019 REAL ESTATE MD 501(C)(3) LINE 10 VICTORY HSG 0 MALTA HOUSE INC 11400 ROCKVILLE PIKE SUITE 505 ROCKVILLE MD 20852 521845215 REAL ESTATE MD 501(C)(3) LINE 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