2025-11-15T03:16:35-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2024-01-01 042704682 CHARLESTOWN ECONOMIC DEVELOPMENT CORPORATION CHAR 6172422600 20 DEVENS STREET CHARLESTOWN MA 02129 THOMAS CUNHA PRESIDENT 6172422600 2025-11-13 1 1 JOLANTA TUCK P01340068 7813803520 2025-11-11 2024 2025-03-06 01:10:19Z THOMAS CUNHA 20 DEVENS STREET CHARLESTOWN MA 02129 1305354 0 X N/A X 1976 MA TO PROVIDE HOUSING TO THE ELDERLY IN A 30 UNIT COMPLEX IN CHARLESTOWN, MA. 4 4 0 4 0 0 946752 987082 226899 246992 53686 68628 848 2652 1228185 1305354 0 0 0 0 0 0 0 0 0 1079147 1023702 1079147 1023702 149038 281652 4947301 5160409 4272676 4204132 674625 956277 TO PROVIDE HOUSING TO THE ELDERLY IN A 30 UNIT COMPLEX IN CHARLESTOWN, MA. 0 0 TO PROVIDE HUD SUBSIDIZED HOUSING TO THE ELDERLY OF CHARLESTOWN, MA. 0 1 0 0 0 0 0 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 MA X ERIC PHILLIPI 6712422417 20 DEVENS STREET CHARLESTOWN MA 02129 X THOMAS CUNHA PRESIDENT/DIRECTOR 2.00 X X 0 0 0 EILEEN WARD CLERK 2.00 X X 0 0 0 ERIC T PHILLIPI TREASURER 2.00 X X 0 0 0 KEVIN ROCHE OFFICER 2.00 X X 0 0 0 0 0 0 0 0 0 0 BARKAN MANAGEMENT COMPANY INC 7 WELLS AVENUE NEWTON MA 02459 MANAGEMENT SERVICES 242962 1 987082 987082 RENTAL INCOME 531390 246992 246992 246992 68628 68628 2652 2652 2652 1305354 249644 0 68628 X 32402 368 20071 205317 19438 615138 130968 1023702 537379 642473 2195 2675 14242 31792 6127098 3021701 3236365 3105397 1157120 1378072 4947301 5160409 62944 39327 102 2075 15990 15933 4193640 4134815 0 11982 4272676 4204132 X 674625 956277 674625 956277 4947301 5160409 281652 0 X 0 1 X 0 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4950 4950 5621445 2617921 3003524 500703 403780 96923 3105397 SECURITY DEPOSITS 17042 REPLACEMENT RESERVE 345239 REAL ESTATE TAX AND INSURANCE ESCROW 327718 RESIDUAL RECEIPTS RESERVE 688073 1378072 REAL ESTATE TAXES PAYABLE 11982 11982 X 1305354 0 1305354 0 1305354 1023702 0 1023702 0 1023702 PART IV, LINE 2B: THE ORGANIZATION REPORTS TENANT SECURITY DEPOSITS ON PART X LINE 21. PART X, LINE 2: THE CORPORATION HAS 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, 2024. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION 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 2021 REMAIN OPEN. FORM 990, PART VI, SECTION A, LINE 3 THE PROPERTY IS MANAGED BY BARKAN MANAGEMENT COMPANY, INC., PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. THE CURRENT MANAGEMENT AGREEMENT PROVIDES FOR A MANAGEMENT FEE OF 2.62% OF GROSS EFFECTIVE INCOME. DURING THE YEAR ENDED DECEMBER 31, 2024, THE CORPORATION INCURRED MANAGEMENT FEES OF $32,402. FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS REVIEWED BY THE PRESIDENT AND TREASURER. IT IS THEN SENT TO THE FULL BOARD PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES 205,317.