2025-06-17T14:44:00-05:00 2024-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2024-01-01 561236679 MCDOWELL HOUSING CORPORATION MCDO 3367653906 PO BOX 5539 GREENVILLE SC 29606 LARRY RAMSEY PRESIDENT 3367653906 2025-06-17 1 0 JESSICA COOPER P01011828 3178485700 2024 2025-03-06 01:10:19Z X BLUE RIDGE TERRACE APARTMENTS LARRY RAMSEY PO BOX 5539 GREENVILLE SC 29606 611186 0 X NA X 1979 NC TO PROVIDE LOW INCOME HOUSING TO FAMILIES AND INDIVIDUALS IN MARION, NORTH CAROLINA. 6 6 0 7 0 0 402110 411536 175155 189290 195 273 19174 10087 596634 611186 0 0 0 0 0 0 0 0 0 616829 604934 616829 604934 -20195 6252 1079181 1063931 1400876 1379374 -321695 -315443 TO PROVIDE LOW INCOME HOUSING TO FAMILIES AND INDIVIDUALS IN MARION, NORTH CAROLINA. 0 0 485919 189290 MCDOWELL HOUSING CORPORATION, A NORTH CAROLINA NOTFORPROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 60UNIT APARTMENT COMMUNITY IN MARION, NORTH CAROLINA, KNOWN AS BLUE RIDGE TERRACE APARTMENTS, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) PROVIDES RENT FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 485919 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 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 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 1 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X NHE INC 8035361056 PO BOX 5539 GREENVILLE SC 29606 X LARRY RAMSEY PRESIDENT 0.00 X X 0 0 0 ALLEN MCKINNEY VICE PRESIDENT 0.00 X X 0 0 0 JAMES WASHBURN SECRETARY/TREASURER 0.00 X X 0 0 0 LARRY BYRD DIRECTOR 0.00 X 0 0 0 JANE WOODARD DIRECTOR 0.00 X 0 0 0 DOUG JOHNSON DIRECTOR 0.00 X 0 0 0 0 0 0 0 0 0 0 0 411536 411536 RENTAL INCOME 531110 189290 189290 189290 273 273 TENANT CHARGES 531110 8801 8801 LAUNDRY & VENDING 531110 1286 1286 10087 611186 189290 0 10360 39231 39231 6500 6500 28046 28046 283734 283734 1325 1325 54540 54540 42598 42598 33639 33639 MANAGEMENT CO EMPLOYEE 67310 23397 43913 SERVICE COORDINATOR CON 48011 48011 604934 485919 119015 0 11081 15363 4546 5147 83710 9583 2868583 2343616 537192 524967 356179 424122 67084 63529 19389 21220 1079181 1063931 7508 28004 326 1008 1288346 1243364 104696 106998 1400876 1379374 X -321695 -315443 -321695 -315443 1079181 1063931 6252 0 X X 0 1 X 1 1 1 X 400707 400836 411922 402110 411536 2027111 169830 175245 174083 175155 189290 883603 570537 576081 586005 577265 600826 2910714 0 0 0 2910714 106 93 91 195 273 758 106 93 91 195 273 758 19174 10087 29261 570643 576174 586096 596634 611186 2940733 0.98980 0.99310 0.00030 0.00020 X SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 90000 90000 2331913 2035937 295976 97315 69712 27603 349355 237967 111388 524967 ESCROW DEPOSITS 45940 C RESERVE FOR REPLACEMENTS 194537 C RESIDUAL RECEIPTS 100768 C DEBT SERVICE SAVINGS ESCROW 82877 C 424122 SECURITY DEPOSITS 21230 RESIDUAL RECEIPTS AVAILABLE FOR RECAPTURE 85768 106998 611186 0 611186 0 611186 604934 0 604934 0 604934 FORM 990, PART VI, SECTION A, LINE 3 THE BOARD OF DIRECTORS HAS DELEGATED THE MANAGEMENT OF THE RENTAL APARTMENTS TO THE NORTH CAROLINA HOUSING SERVICES AND MANAGEMENT CORPORATION. THE APARTMENT COMPLEX IS REGULATED BY U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. NORTH CAROLINA HOUSING SERVICES AND MANAGEMENT CORPORATION WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE CORPORATION SHALL, AT ALL TIMES, BE LIMITED TO INDIVIDUALS WHO ARE EITHER (1) DIRECTORS OF THE MARION, NORTH CAROLINA LIONS CLUB, OR (2) MEMBERS OF THE MARION, NORTH CAROLINA LIONS CLUB OR RESIDENTS OF MCDOWELL COUNTY, NORTH CAROLINA, WHO HAVE APPROVAL OF THE BOARD OF DIRECTORS OF THE MARION, NORTH CAROLINA LIONS CLUB. FORM 990, PART VI, SECTION A, LINE 7A THE OFFICERS OF THE CORPORATION, AS PROVIDED BY THE BYLAWS OF THE CORPORATION, SHALL BE ELECTED BY THE TRUSTEES OF THE CORPORATION, IN THE MANNER THEREIN SET OUT, AND SHALL SERVE UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED. THE TRUSTEES SHALL ELECT THE REGULAR OFFICERS OF THE CORPORATION AT THE ANNUAL MEETING, FOR TERMS OF ONE YEAR. FORM 990, PART VI, SECTION A, LINE 8B ALL DECISIONS REGARDED THE ENTITY MUST BE AGREED UPON BY A MAJORITY OF THE BOARD MEMEBERS. NO BOARD MEMBER MAY ACT INDEPENDENTLY OF THE BOARD IN MATTERS REGARDING THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTING FIRM AND PROVIDED TO THE MANAGEMENT COMPANY FOR INITIAL REVIEW AND APPROVAL. AFTER ANY QUESTIONS AND COMMENTS FROM THE MANAGEMENT COMPANY ARE ADDRESSED, THE RETURN IS PROVIDED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW AND APPROVAL. AFTER ANY QUESTIONS AND COMMENTS FROM THE BOARD OF DIRECTORS ARE ADDRESSED, THE FINAL APPROVED RETURN IS PROVIDED TO THE DESIGNATED BOARD OFFICER FOR SIGNATURE AND FILING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE REVIEWED, APPROVED AND SIGNED BY DESIGNATED OFFICERS ON BEHALF OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE IS MONITORED AT REGULARLY SCHEDULE MEETINGS OF THE BOARD OF DIRECTORS AND AT OTHER TIMES, IF NEEDED. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MAINTAINED BY THE BOARD OF DIRECTORS AND COPIES ARE PROVIDED UPON REQUEST. FORM 990, PART XII, LINE 2C: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. 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.