2026-08-28T11:07:36-04:00 2025-12-31 263670494 RECTOR REEDER & LOFTON PC 623 TOM BREWER ROAD LOGANVILLE GA 300524042 990 2025-01-01 043322638 SOUTHEASTERN MASSACHUSETTS AFFORDAB SOUT 5085886880 45 GODDARD ROAD BROCKTON MA 02301 THOMAS THIBEAULT EXECUTIVE DIRECTOR 5085886880 2026-08-10 MICHAEL K OZMENT CPA P01647253 7708798411 2026-08-28 2025 THOMAS THIBEAULT 987482 false X N/A X 1996 MA PROVIDE HOUSING FOR LOW TO MODERATE INCOME PEOPLE AS DEFINED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 11 10 0 0 0 885031 925023 63900 62459 0 948931 987482 0 0 0 0 0 723593 775165 723593 775165 225338 212317 6284033 6339295 2335458 2178403 3948575 4160892 PROVIDE HOUSING FOR LOW TO MODERATE INCOME PEOPLE AS DEFINED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT false false 641255 925023 THE ORGANIZATION MAINTAINS A PROGRAM THAT CREATES AFFORDABLE RENTAL HOMES FOR LOW AND MODERATE INCOME INDIVIDUALS BY PURCHASING AND REHABILITATING MULTIFAMILY HOMES WITHIN THE CITY OF BROCKTON. THE ORGANIZATION OWNS AND MANAGES 42 UNITS OF RESIDENTIAL RENTAL HOUSING. THE HOUSING UNITS ARE RENTED TO TENANTS WHO QUALIFY WITH LOW TO MODERATE INCOME AT REDUCED RENTAL RATES. OPERATIONS ARE FURTHER SUBSIDIZED WITH SECTION 8 HOUSING ASSISTANCE. TEH ORGANIZATION ALSO PURCHASES HOUSES UNDER FORECLOSURE TO REHABILITATE AND SELL TO HOUSEHOLDS WHOSE INCOME MEETS THE AFFORDABILITY REQUIREMENTS IN ACCORDANCE WITH 24 CFR, PART 92.254. THE HOMES ARE REQUIRED TO REMAIN QUALIFIED FOR THE AFFORDABILITY PERIOD SET FORTH IN THE HOME INVESTMENT FUNDS GRANT CONTRACT 641255 true false false false false false false false false false true false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 8 0 false 0 false false false false false false false false X 11 10 false true false false false false false true true false false true true true true true true false false false MA X THOMAS THIBEAULT 5085886880 45 GODDARD RD BROCKTON MA 02301 X THOMAS THIBEAULT EXECUTIVE DI X 0 0 0 RICHARD OLSON PRESIDENT X X 0 0 0 DAVID TEIXEIRA TREASURER X X 0 0 0 JOHN MCGARRY CLERK X X 0 0 0 TIMOTHY SULLIVAN DIRECTOR X 0 0 0 ALLYNE PECEVICH DIRECTOR X 0 0 0 GERARD NADEAU DIRECTOR X 0 0 0 JEANETTE CAYER DIRECTOR X 0 0 0 CAROL ROBERTS DIRECTOR X 0 0 0 FRED WELSH DIRECTOR X 0 0 0 SUSAN HASOMERIS DIRECTOR X 0 0 0 LINDA KENNEY LOGAN DIRECTOR X 0 0 0 false false false WORLD INSURANCE ASSOCIATES LLC PROPERTY INSURA 145224 1 DWELLING RENT 917610 917610 OTHER INCOME 7413 7413 925023 62459 62459 987482 925023 62459 109084 109084 2144 2144 16500 16500 5008 5008 239465 239465 1174 1174 61875 61875 191585 191585 120997 120997 BAD DEBTS 27239 27239 TAXES 94 94 775165 641255 133910 0 1545503 1738434 73408 81456 40362 75225 7050194 2606014 4624760 4444180 6284033 6339295 72296 16974 235 4 2262927 2161425 2335458 2178403 X 3948575 4160892 3948575 4160892 6284033 6339295 212317 X false true X true true true X 395357 392075 787432 170275 302751 826043 885031 925023 3109123 565632 694826 826043 885031 925023 3896555 3896555 1169 14210 84335 63900 62459 226073 1169 14210 84335 63900 62459 226073 566801 709036 910378 948931 987482 4122628 0.94520 0.95490 0.05000 0.05000 X 1204217 1204217 5816630 2576667 3239963 29347 29347 4444180 987482 987482 987482 775165 775165 775165 FORM 990, PAGE 6, PART VI, LINE 3 THE ORGANIZATION ENTERED INTO A MANAGEMENT AGREEMENT WITH THE BROCKTON HOUSING AUTHORITUY (BHA) UNDER WHICH BHA WILL PROVIDE BOTH ONGOING OPERATING MANAGEMENT SERVICES AND CONSTRUCTION MANAGEMENT SERVICES TO THE ORGANIZATION. UNDER THE TERMS OF THE AGREEMENT, THE ORGANIZATION WILL PAY A MANAGEMENT FEE EQUAL TO 11% OF GROSS REVENUE WITH THE REST OF DWELLING UNITS. A PORTION OF THE FEE, 4%. IS GUARANTEED; 2% IS ONLY PAYABLE OUT OF THE NET CASH FLOW AS DEFINED. THE REMAINING 5%, THE INCENTIVE FEE, IS ALSO PAYABLE OUT OF NET CASH FLOW. HOWEVER, IF THERE IS INSUFFICIENT NET CASH FLOW FOR THE YEAR TO PAY THE INCENTIVE FEE, SUCH FEE WILL NOT ACCUMULATE OR BE CONSIDERED DUE AND OWING. FORM 990, PAGE 6, PART VI, LINE 11B A COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS FORM 990. THE FINANCIAL DATA ON FORM 990 IS RECONCILED TO THE FINANCIAL INFORMATION ON THE AUDITED FINANCIAL STATEMENTS. THE NON-FINANCIAL INFORMATION, SUCH AS QUESTIONS CONCERNING GOVERNANCE, POLICIES, AND TAX COMPLIANCE ARE REVIEWED TO ENSURE THAT THEY ARE ACCURATE. CONSIDERATION IS GIVEN AS TO THE COMPLETENESS OF UNRELATED BUSINESS INCOME IF ANY. FORM 990, PAGE 6, PART VI, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF THE COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT FORM 990, PAGE 6, PART VI, LINE 19 ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR INSPECTION BY THE PUBLIC AT THE ORGANIZATIONS OFFICES DURING NORMAL BUSINESS HOURS.