2025-10-10T12:23:11-05:00 2024-12-31 720916213 BERNARD & FRANKS CORP OF CPA'S 4141 VETERANS BLVD SUITE 313 METAIRIE LA 700025581 990 2024-01-01 271357234 2222 TULANE AVENUE APARTMENTS NONPROFIT INC 2222 5048214496 2475 CANAL STREET 300 NEW ORLEANS LA 70119 MARTHA J KEGEL EXECUTIVE DIRECTOR 5048214496 2025-10-08 1 0 JAMES L WHITE P00028819 5048850170 2024 2025-03-06 01:10:19Z MS MARTHA KEGEL 2475 CANAL STREET 300 NEW ORLEANS LA 70119 1281384 0 X N/A X 2016 LA THE 2222 TULANE ORGANIZATION HAS A MISSION TO REDUCE, PREVENT AND END HOMELESSNESS. 3 3 0 3 0 0 93848 68392 0 0 0 0 1076400 1132575 1170248 1200967 0 0 0 0 23514 19095 0 0 0 1095603 1252672 1119117 1271767 51131 -70800 12484708 12018088 10110855 9715035 2373853 2303053 AS A RELATED ENTITY OF UNITY OF GREATER NEW ORLEANS, 2222 TULANE AVENUE APARTMENTS NONPROFIT HAS A MISSION TO REDUCE, PREVENT AND END HOMELESSNESS. 0 0 879809 2222 TULANE (THE ROSA F. KELLR BUILDING/RFK) PROVIDES AFFORDABLE HOUSING WITH CASE MANAGEMENT AND OTHER SUPPORTIVE SERVICES FOR ALL PSH TENANTS AND SUPPORTIVE SERVICES FOR ALL NON-PSH TENANTS ARE CONDUCTED ON-SITE AT THE PROPERTY LOCATION. ALL UNITS AT RFK ARE RESERVED FOR TENANTS WHO HAVE INCOMES AT OR BELOW 50 PERCENT OF THE AREA MEDIAN INCOME, AMI, AS ESTABLISHED BY HUD. THEREFORE, THE ENTIRE COMPLEX MEETS THE DEFINITION OF LOW-INCOME ACTIVITIES 100% OF THE TIME FOR THE SOLE OPERATING PURPOSE TO PROVIDE STABLE RENTAL HOUSING TO INDIVIDUALS AND FAMILIES WHO ARE FORMERLY HOMELESS AND AT RISK OF BECOMING HOMELESS. 879809 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X THE ORGANIZATION 5048214496 2475 CANAL STREET 300 NEW ORLEANS LA 70119 X MARTHA J KEGEL PRESIDENT AND DIRECTOR 5.00 X X 0 0 0 ANGELA PATTERSON VICE-PRESIDENT 2.00 X X 0 0 0 FRANCES MISENHEIMER SECRETARY/TREASURER 2.00 X X 0 0 0 0 0 0 0 0 0 0 0 68392 68392 786325 80417 705908 705908 705908 FORGIVENESS OF DEBT 531111 426667 426667 426667 1200967 1132575 0 0 19095 19095 67392 50544 16848 14273 10705 3568 18599 18599 373874 280405 93469 PROPERTY OPERATION AND 597829 448372 149457 PROPERTY INSURANCE AND 175280 89783 85497 FRINGE BENEFITS AND PAY 5425 5425 1271767 879809 391958 0 57520 58204 18605 20203 67220 45235 16365220 5491659 11247435 10873561 1093928 1020885 12484708 12018088 57912 74920 20630 30739 9892351 9470391 139962 138985 10110855 9715035 X 2373853 2303053 2373853 2303053 12484708 12018088 -70800 0 X 0 1 X 0 0 X 93848 68392 162240 93848 68392 162240 162240 162240 1854261 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 907428 907428 15457792 5491659 9966133 10873561 DUE FROM RELATED PARTIES 171137 RESTRICED CASH AND CASH EQUIVALENTS - DEVELOPMENT 708263 REPLACEMENT RESERVE 108050 TENANTS' DEPOSIT 33435 1020885 PROPERTY MANAGEMENT FEE PAYABLE 3697 ASSET MANAGEMENT FEE PAYABLE 6655 PAYROLL LIABILITIES 1448 OTHER ACCRUED EXPENSES 77814 DUE TO OTHER RELATED PARTIES 2999 TENANTS' DEPOSITS 32480 SCCRUED INTEREST PAYABLE 13892 138985 X 1200967 0 1200967 0 1200967 1271767 0 1271767 0 1271767 PART X, LINE 2: IN JULY 2023, THE ORGANIZATION SUBMITTED AN APPLICATION FOR RECOGNITION OF EXEMPTION UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE WITH THE REQUEST TO GRANT EXEMPTION RETROACTIVE TO JANUARY 1, 2019. THE INFORMATION OUTLINED BELOW IN THE IMMEDIATE PARAGRAPH, WAS SUBMITTED TO THE IRS AS TO WHY THE ORGANIZATION REQUESTED THE JANUARY 1, 2019 EFFECTIVE DATE. THE ORIGINAL OWNERSHIP ENTITY FOR THE BUSINESS, 2222 TULANE APARTMENTS, LLC WAS AN LLC DISREGARDED ENITY OF UNITY OF GREATER NEW ORLEANS, INC., A 501 (C) (3). IN JULY 2016, OWNERSHIP WAS TRANSFERRED FROM 2222 TULANE APARTMENTS, LLC TO UNITY HOUSING, INC., A RELATED 501 (C) (3) OF UNITY OF GREATER NEW ORLEANS, INC. THEN ON JANUARY 1, 2019, THE OWNERSHIP WAS TRANSFERRED TO 2222 TULANE AVENUE APARTMENTS NONPROFIT, INC. (THE ORIGINAL OWNERSHIP ENITY, 2222 TULANE APARTMENTS, LLC WAS CONVERTED TO 2222 TULANE APARTMENTS, INC. IN 2016, WHICH WAS THEN CONVERTED TO 2222 TULANE AVENUE APARTMENTS NONPROFIT, INC. IN 2016). THE ORIGINAL APPLICATION FOR EXEMPTION BEGAN IN 2020 BUT WAS NEVER COMPLETED FOR FILING DUE TO THE TIMING OF COVID AS WELL AS 2 CONSECUTIVE YEARS OF DECLARED DISASTERS IN LOUISIANA (HURRICAN DELTA IN 2020 AND HURRICANE IDA IN 2021) THAT AFFECTED NEW ORLEANS AREA. SINCE THE 2222 TULANE BUSINESS WAS PLACED INTO SERVICE, ITS OWNERSHIP ENITY HAS ACTED SPECIFICALLY AS A NONPROFIT BY PROVIDING AFFORDABLE HOUSING TO VULNERABLE POPULATIONS AS PART OF THE MISSION OF UNITY OF GREATER NEW ORLEANS, INC. TO PREVENT, REDUCE AND END HOMELESSNESS. IN RESPONSE TO THE 501 (C) (3) APPLICATION SUBMITTED, THE IRS DID GRANT THE ORGANIZATION 501 (C) (3) TAX EXEMPTION STATUS UNDER SECTION 170 (B) (1) (A). HOWEVER, THE EFFECTIVE EXEMPTION DATE WAS SET AT THE APPLICATION DATE OF JULY 21, 2023 AND NOT AT THE REQUESTED DATE OF JANUARY 1, 2019. THE ORGANIZATION IS CURRENTLY SEEKING ADVICE FROM ACCOUNTING PROFESSIONALS AS TO HOW TO MOVE FORWARD WITH A RECONSIDERATION REQUEST TO THE IRS FOR GRANTING EXEMPTION TO BE EFFECTIVE AT JANAUARY 1, 2019. AS OF DECEMBER 31, 2023, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFIY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PROVIDED TO ALL OF THE BOARD MEMBERS BEFORE IT WAS FILED TO IRS. THE BOARD MEMBERS WERE GIVEN TIME TO REVIEW OF THE FORM 990 AND OBTAIN ANSWERS TO QUESTIONS FROM THE CPA'S AND MANGEMENT TO THE SATISFACTION OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12 THE BOARD OF DIRECTORS REGULARLY AND CONSISTENTLY MONITORS AND ENFORCE COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PURPOSES OF THE BOARD OF DIRECTORS SALARY REVIEW POLICY, IS TO DETERMINE THAT SALARIES PAID TO THE EXECUTIVES OF THE ORGANIZATION DO NO EXCEED AMOUNTS THAT ARE REASONABLE. REASONABLE COMPENSATION AS DEFINED BY THE TAX CODE IS THE AMOUNT ORDINARILY PAID FOR LIKE SERVICES BY LIKE ENTERPRISES (WHETHER TAXABLE OR TAX-EXEMPT) UNDER LIKE CIRCUMSTANCES. IN THE DETERMINATION OF A REASONABLE SALARY, FEES, BONUSES, SEVERANCE, DEFERRED COMPENSATION, OTHER COMPENSATORY BENEFITS, FRINGE BENEFITS, AND FOREGONE INTEREST ON LOANS IN TOTAL MUST BE USED AS THE MEASURE OF REASONABLE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 18 THE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE OFFICE LOCATED AT 2475 CANAL STREET, STE 300 NEW ORLEANS, LA 70119. THE DOCUMENTS CAN BE REQUESTED BY PHONE AT (504) 821-4496. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUESTING SUCH DOCUMENTS AT THE OFFICE LOCATED AT 2475 CANAL STREET, STE 300, NEW ORLEANS, LA 70119. THE DOCUMENTS CAN BE REQUESTED BY PHONE AT (504) 821-4496. 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 UNITY OF GREATER NEW ORLEANS INC C 68392 FAIR MARKET VALUE 3222 CANAL ST APARTMENTS NONPROFIT INC E 171137 FAIR MARKET VALUE