2025-11-16T09:39:19-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 621 CAPITOL MALL SUITE 2150 SACRAMENTO CA 95814 990 2024-01-01 911764112 POWELL BOULEVARD APARTMENTS INC POWE 5032310682 4150 S MOODY AVENUE PORTLAND OR 97239 MEI LEE CFO 5032310682 2025-11-14 1 1 JOLANTA TUCK P01340068 9164429100 2025-11-14 2024 2025-03-06 01:10:19Z MARGARET SALAZAR 4150 S MOODY AVENUE PORTLAND OR 97239 442455 0 X REACHCDC.ORG X 1997 OR TO PROVIDE LOW-INCOME HOUSING FOR DUAL-DIAGNOSIS, CHRONICALLY MENTALLY ILL INDIVIDUALS 12 12 0 12 0 0 90884 113331 58850 53738 3017 3598 58518 271788 211269 442455 0 0 0 0 0 0 0 0 0 281327 318245 281327 318245 -70058 124210 1223097 1426876 564471 644040 658626 782836 TO PROVIDE LOW-INCOME HOUSING FOR DUAL-DIAGNOSIS, CHRONICALLY MENTALLY ILL INDIVIDUALS 0 0 287136 325526 POWELL BOULEVARD APARTMENTS, INC. WAS FORMED TO CONSTRUCT AND OPERATE A 20-UNIT APARTMENT COMPLEX FOR LOW-INCOME PERSONS WHO ARE CHRONICALLY MENTALLY ILL. 287136 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 1 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 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 OR X MEI LEE 5032310682 4150 S MOODY AVENUE PORTLAND OR 97239 JILL LAM BOARD CHAIR 1.00 8.00 X X 0 0 0 TEJAN CONTEH VICE CHAIR 1.00 8.00 X X 0 0 0 PAUL CUMMINGS TREASURER 1.00 8.00 X X 0 0 0 JAMIE BECKLAND SECRETARY 1.00 8.00 X X 0 0 0 ALMA FLORES BOARD MEMBER 1.00 8.00 X 0 0 0 CELIA SMOOT BOARD MEMBER 1.00 8.00 X 0 0 0 CHRISTOPHER SOHLER BOARD MEMBER 1.00 8.00 X 0 0 0 EDWARD KNIGHTLY BOARD MEMBER 1.00 8.00 X 0 0 0 JIM LODWICK BOARD MEMBER 1.00 8.00 X 0 0 0 JOHN CARDENAS BOARD MEMBER 1.00 8.00 X 0 0 0 SAMUEL STUCKEY BOARD MEMBER 1.00 8.00 X 0 0 0 SEAN EDWARDS BOARD MEMBER 1.00 8.00 X 0 0 0 TEKLE BUSHEN CHIEF FINANCIAL OFFICER 1.00 47.00 X 0 193661 20473 MARGARET SALAZAR PRESIDENT & CEO 1.00 47.00 X 0 218664 45693 0 412325 66166 0 0 1 0 0 113331 113331 NET RENTAL REVENUE 531110 53738 53738 53738 3598 3598 GAIN ON INVOLUNTARY CO 900099 214668 214668 INSURANCE REIMBURSEMEN 900099 33544 33544 LAUNDRY AND VENDING 531110 1381 1381 22195 22195 271788 442455 325526 0 3598 X 19542 19542 4396 4396 11567 11567 69730 69730 24737 24737 116239 116239 270 270 71599 71599 MISC. TAXES, LICENSES, 165 165 318245 287136 31109 0 27742 8527 1892 2316 295 200 2275307 1064716 1014566 1210591 178602 205242 1223097 1426876 279175 343541 4156 115 4511 4213 221918 221918 54711 74253 564471 644040 X -997986 -873776 1656612 1656612 658626 782836 1223097 1426876 124210 0 X 0 1 X 1 1 1 X 117874 112645 79710 90884 113331 514444 117874 112645 79710 90884 113331 514444 514444 58 15 383 3017 3598 7071 58518 271788 330306 851821 310923 0.60390 0.89400 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LAUNDRY VENDING - 2023 AMOUNT: $ 2,337. 2024 AMOUNT: $ 1,381. MISCELLANEOUS REVENUE - 2023 AMOUNT: $ 4,864. 2024 AMOUNT: $ 22,195. GAIN ON INVOLUNTARY CONVERSION - 2023 AMOUNT: $ 51,317. 2024 AMOUNT: $ 214,668. INSURANCE REIMBURSEMENT - 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 33,544. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 56877 56877 2147359 1000738 1146621 71071 63978 7093 1210591 TENANT DEPOSITS 4213 ESCROW DEPOSITS 11661 RESERVE FOR REPLACEMENTS 186099 RESIDUAL RECEIPTS RESERVE 3269 205242 DUE TO RELATED PARTY 74253 74253 X 442455 0 442455 0 442455 318245 0 318245 0 318245 PART IV, LINE 2B: TENANT DEPOSITS ARE HELD IN TRUST. PART X, LINE 2: THE COMPANY HAS APPLIED FOR AND RECEIVED A DETERMINATION 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 COMPANY IS NOT SUBJECT TO INCOME TAXES. THE COMPANY 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 COMPANY AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE COMPANY HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE COMPANY 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. 0 0 0 0 0 0 0 0 0 MARGARET SALAZAR PRESIDENT & CEO 0 177330 0 10000 0 31334 0 1159 0 44534 0 264357 0 0 TEKLE BUSHEN CHIEF FINANCIAL OFFICER 0 168117 0 0 0 25544 0 4457 0 16016 0 214134 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE COMPANY HAS ENGAGED THE SERVICES OF REACH COMMUNITY DEVELOPMENT, INC., AN AFFILIATE, TO MANAGE THE DAILY OPERATIONS OF THE PROPERTY. UNDER THIS AGREEMENT, THE COMPANY IS REQUIRED TO PAY REACH COMMUNITY DEVELOPMENT, INC. 11.50% OF RESIDENTIAL RENTAL INCOME COLLECTED. DURING THE YEAR ENDED DECEMBER 31, 2024, $19,542 IN PROPERTY MANAGEMENT FEES WERE INCURRED. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE DISTRIBUTED ELECTRONICALLY TO THE OFFICERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST DISCLOSURES ARE MONITORED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST FROM THE ORGANIZATION. FINANCIAL INFORMATION IS ALSO AVAILABLE FROM THE OREGON DEPARTMENT OF JUSTICE. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 69,730. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 69,730. BMA INC 4150 S MOODY AVENUE PORTLAND OR 97239 931174394 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 COMMUNITY HOUSING II INC 4150 S MOODY AVENUE PORTLAND OR 97239 931300045 LOW-INCOME HOUSING OR 501(C)(3) LINE 7 N/A 0 COMMUNITY HOUSING III INC 4150 S MOODY AVENUE PORTLAND OR 97239 010777882 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 COMMUNITY HOUSING INC 4150 S MOODY AVENUE PORTLAND OR 97239 943041307 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 MARION STREET APARTMENTS INC 4150 S MOODY AVENUE PORTLAND OR 97239 931209647 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 REACH APARTMENTS INC 4150 S MOODY AVENUE PORTLAND OR 97239 943085792 LOW-INCOME HOUSING OR 501(C)(3) LINE 7 N/A 0 REACH COMMUNITY DEVELOPMENT INC 4150 S MOODY AVENUE PORTLAND OR 97239 930813981 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 TAYLOR APARTMENTS INC 4150 S MOODY AVENUE PORTLAND OR 97239 931209646 LOW-INCOME HOUSING OR 501(C)(3) LINE 10 N/A 0 124TH AND ASH LP 4150 S MOODY AVENUE PORTLAND OR 97239 823965588 LOW-INCOME HOUSING OR N/A 0 0 72ND AND FOSTER LP 4150 S MOODY AVENUE PORTLAND OR 97239 813073180 LOW-INCOME HOUSING OR N/A 0 0 FRUIT VALLEY LP 4150 S MOODY AVENUE PORTLAND OR 97239 270782644 LOW-INCOME HOUSING OR N/A 0 0 PATTON SQUARE PARTNERS LP 4150 S MOODY AVENUE PORTLAND OR 97239 205425786 LOW-INCOME HOUSING OR N/A 0 0 REACH 62ND AVE LLC 4150 S MOODY AVENUE PORTLAND OR 97239 475413110 LOW-INCOME HOUSING OR N/A 0 0 REACH ARGYLE LP 4150 S MOODY AVENUE PORTLAND OR 97239 823354313 LOW-INCOME HOUSING OR N/A 0 0 REACH B49 PARTNERS LP 4150 S MOODY AVENUE PORTLAND OR 97239 274635096 LOW-INCOME HOUSING OR N/A 0 0 REACH BEAVERTON LP 4150 S MOODY AVENUE PORTLAND OR 97239 832534660 LOW-INCOME HOUSING OR N/A 0 0 REACH BRONAUGH PARTNERS LP 4150 S MOODY AVENUE PORTLAND OR 97239 472949178 LOW-INCOME HOUSING OR N/A 0 0 REACH GATEWAY SENIOR HSG LP 4150 S MOODY AVENUE PORTLAND OR 97239 800930515 LOW-INCOME HOUSING OR N/A 0 0 REACH ISABELLA COURT LLC 4150 S MOODY AVENUE PORTLAND OR 97239 474388596 LOW-INCOME HOUSING OR N/A 0 0 REACH ORENCO II LLC 4150 S MOODY AVENUE PORTLAND OR 97239 465146622 LOW-INCOME HOUSING OR N/A 0 0 REACH ORENCO III LLC 4150 S MOODY AVENUE PORTLAND OR 97239 473939188 LOW-INCOME HOUSING OR N/A 0 0 REACH ORENCO LLC 4150 S MOODY AVENUE PORTLAND OR 97239 454607664 LOW-INCOME HOUSING OR N/A 0 0 REACH ROSE APARTMENTS LP 4150 S MOODY AVENUE PORTLAND OR 97239 824855669 LOW-INCOME HOUSING OR N/A 0 0 REACH WALNUT PARTNERS LP 4150 S MOODY AVENUE PORTLAND OR 97239 270924852 LOW-INCOME HOUSING OR N/A 0 0 TOWNE SQUARE LP 4150 S MOODY AVENUE PORTLAND OR 97239 455390002 LOW-INCOME HOUSING OR N/A 0 0 WHEELDON ADMIRAL LLC 4150 S MOODY AVENUE PORTLAND OR 97239 270162291 LOW-INCOME HOUSING OR N/A 0 0 PLAZA LOS AMIGOS LP 4150 S MOODY AVENUE PORTLAND OR 97239 880758879 LOW-INCOME HOUSING OR N/A 0 0 REACH ARGYLE GP LLC 4150 S MOODY AVENUE PORTLAND OR 97239 832444633 LOW-INCOME HOUSING OR N/A C 0 REACH BRONAUGH GP LLC 4150 S MOODY AVENUE PORTLAND OR 97239 472963987 LOW-INCOME HOUSING OR N/A C 0 REACH GATEWAY LLC 4150 S MOODY AVENUE PORTLAND OR 97239 320411748 LOW-INCOME HOUSING OR N/A C 0 REACH IC LLC 4150 S MOODY AVENUE PORTLAND OR 97239 474750452 LOW-INCOME HOUSING OR N/A C 0 REACH ORCHARDS II LLC 4150 S MOODY AVENUE PORTLAND OR 97239 472981576 LOW-INCOME HOUSING OR N/A C 0 REACH ORCHARDS III LLC 4150 S MOODY AVENUE PORTLAND OR 97239 473924349 LOW-INCOME HOUSING OR N/A C 0 REACH ORCHARDS LLC 4150 S MOODY AVENUE PORTLAND OR 97239 465204815 LOW-INCOME HOUSING OR N/A C 0 REACH ROSE GP LLC 4150 S MOODY AVENUE PORTLAND OR 97239 842694124 LOW-INCOME HOUSING OR N/A C 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0