2025-02-11T01:22:11-06:00 2024-06-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2023-07-01 570551240 THE NAVIGATOR CORPORATION NAVI 7048825415 300 EAST JOHN STREET SUITE 138 MATTHEWS NC 28105 MARK SCHIMMOELLER PRESIDENT 7042285415 2025-02-10 1 0 CASEY H PATTERSON P01281279 3362944494 2025-02-09 2023 2025-03-06 01:10:19Z CHRISTOPHER TOWERS MARK SCHIMMOELLER 300 EAST JOHN STREET SUITE 138 MATTHEWS NC 28105 3043024 0 X N/A X 1969 SC THE NAVIGATOR CORPORATION WAS ORGANIZED FOR THE PURPOSE OF DEVELOPING AND OPERATING CHRISTOPHER TOWERS, A 225 UNIT APARTMENT COMMUNITY IN COLUMBIA, SOUTH CAROLINA, IN ORDER TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR THE ELDERLY. THE CORPORATION OPERATES THE PROJECT UNDER THE PROVISIONS OF SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT OF 1959, WITH MORTGAGE INSURANCE PROVIDED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). 10 10 0 10 0 0 1610235 1829069 1095002 1205672 -3605 237 0 8046 2701632 3043024 0 0 0 0 0 0 0 0 0 3085995 2828603 3085995 2828603 -384363 214421 10991108 11005854 13711956 13512281 -2720848 -2506427 TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR THE ELDERLY AS REGULATED BY SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT ISSUED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 0 0 2748601 1205672 TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR THE ELDERLY BY OPERATING A 225-UNIT APARTMENT COMMUNITY AS REGULATED BY SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT ISSUED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 2748601 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 10 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 X MULTIFAMILY SELECT INC 7042285415 300 EAST JOHN STREET SUITE 138 MATTHEWS NC 28105 X MARK SCHIMMOELLER PRESIDENT 8.00 X X 0 0 0 JOHN SISARIO 2ND VICE PRESIDENT 4.00 X X 0 0 0 BILL MASON SECRETARY 4.00 X X 0 0 0 RALPH GIANGRANDI AUDITOR 8.00 X X 0 0 0 JAMES SANSONETTI DIRECTOR 0.50 X 0 0 0 DONALD VANBORSCH DIRECTOR 0.50 X 0 0 0 ROBERT WIGGS JR DIRECTOR 0.50 X 0 0 0 DANIEL LEONARDI DIRECTOR 0.50 X 0 0 0 MICHAEL MANCARI 1ST VICE PRESIDENT 4.00 X X 0 0 0 MICHAEL MIKA DIRECTOR 0.50 X 0 0 0 0 0 0 0 0 0 0 0 1829069 1829069 RENTAL INCOME 531110 1185699 1185699 LAUNDRY & VENDING REVE 531110 13815 13815 TENANT CHARGES 531110 5281 5281 CABLE TV REIMBURSEMENT 531110 877 877 1205672 237 237 MISCELLANEOUS REVENUE 900099 8046 8046 8046 3043024 1205672 0 8283 X 182257 182257 2149 2149 67500 67500 3097 3097 42064 42064 336528 336528 458980 458980 358751 358751 455967 455967 PAYROLL REIMBURSEMENT 193764 193764 SECURITY PAYROLL/CONTRA 146523 146523 SUPPLIES 97088 97088 MORTGAGE INSURANCE PREM 92379 92379 391556 381203 10353 2828603 2748601 80002 0 140689 156834 35249 63136 85337 428957 17268001 7959516 9646923 9308485 589369 569056 493541 479386 10991108 11005854 544726 214138 22263 34650 13101659 12830410 0 389522 43308 43561 13711956 13512281 X -2720848 -2506427 -2720848 -2506427 10991108 11005854 214421 0 X 0 1 X 1 1 1 X 1376570 1374187 1371232 1610235 1829069 7561293 1066753 1077220 1064609 1095002 1213718 5517302 2443323 2451407 2435841 2705237 3042787 13078595 0 0 0 13078595 786 470 118 195 237 1806 786 470 118 195 237 1806 2444109 2451877 2435959 2705432 3043024 13080401 0.99990 0.99990 0.00010 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 234713 234713 14790369 5873574 8916795 93156 55973 37183 2127840 2008046 119794 21923 21923 0 9308485 TENANT SECURITY DEPOSITS 43561 43561 X 3043024 0 3043024 0 3043024 2828603 0 2828603 0 2828603 PART X, LINE 2: 'IT IS THE CORPORATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR THE YEAR ENDED JUNE 30, 2024. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS DELEGATED CONTROL OVER MANAGEMENT DUTIES TO MULTIFAMILY SELECT, INC. THE AFFORDABLE HOUSING APARTMENT COMPLEX IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. THE MANAGEMENT COMPANY WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE CORPORATION CONSISTS OF ITS BOARD OF DIRECTORS, AND OTHER PERSONS INTERESTED IN THE PURPOSES OF THE CORPORATION AS PRESCRIBED IN THE CHARTER. MEMBERSHIP IN THE CORPORATION IS PERSONAL AND NOT TRANSFERABLE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, THERE SHALL BE ELECTED BY BALLOT OF THE MEMBERS, NOMINEES TO FILL VACANCIES ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS MAY BE AMENDED AT ANY REGULAR MEETING OF THE BOARD OF DIRECTORS OR AT ANY SPECIAL MEETING CALLED FOR THAT PURPOSE, PROVIDED THAT WRITTEN NOTICE OF THE PROPOSED AMENDMENT SHALL HAVE BEEN GIVEN AT LEAST TEN DAYS PRIOR TO SUCH MEETING. SUCH AMENDMENT SHALL REQUIRE AN AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE BOARD OF DIRECTORS PRESENT AT A DULY CONSTITUTED MEETING AND SHALL FURTHER REQUIRE THE WRITTEN APPROVAL OF THE GOVERNMENT. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY FOR FORM 990 IS FORWARDED TO EACH BOARD MEMBER FOR THEIR REVIEW AND COMMENT PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION C, LINE 19 THE INFORMATION IS AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 24E CONTRACTS: PROGRAM SERVICE EXPENSES 91,792. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 91,792. MANAGER SALARY REIMBURSEMENT: PROGRAM SERVICE EXPENSES 84,259. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,259. OFFICE SALARY REIMBURSEMENT: PROGRAM SERVICE EXPENSES 74,552. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 74,552. BAD DEBTS: PROGRAM SERVICE EXPENSES 34,162. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 34,162. PAYROLL TAX REIMBURSEMENT: PROGRAM SERVICE EXPENSES 28,630. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,630. GARBAGE AND TRASH REMOVAL: PROGRAM SERVICE EXPENSES 28,357. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,357. MANAGEMENT CONSULTANTS: PROGRAM SERVICE EXPENSES 21,337. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,337. OTHER MISCELLANEOUS ADMINISTRATIVE EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 10,353. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,353. ENTITY EXPENSE: PROGRAM SERVICE EXPENSES 10,002. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,002. HEATING/COOLING REPAIRS: PROGRAM SERVICE EXPENSES 7,125. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,125. MISCELLANEOUS OPERATING EXPENSE: PROGRAM SERVICE EXPENSES 987. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 987. CHRISTOPHER TOWERS FOUNDATION 1805 DEVINE STREET COLUMBIA SC 29201 570754332 HOUSING SC 501(C)(3) LINE 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0