2026-04-22T13:06:23-05:00 2025-06-30 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2024-07-01 562124379 WAKE COUNTY OPPORTUNITIES HOUSING CORP DBA HOLLY SPRINGS II APARTMENTS WAKE 9198344198 567 E HARGETT STREET RALEIGH NC 27601 HOWARD PATTERSON CHAIRMAN 9198344198 2026-04-14 1 0 JACOB A SOWERS P01712829 3178485700 2024 2025-03-06 01:10:19Z HOLLY SPRINGS II APARTMENTS HOWARD PATTERSON 567 E HARGETT STREET RALEIGH NC 27601 317319 0 X N/A X 1998 NC THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN HOLLY SPRINGS, NC KNOWN AS HOLLY SPRINGS II APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMEENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 9 PROGRAM OF THE NATIONAL HOUSING ACT. 8 8 0 0 0 0 138964 147216 144107 164234 5229 -9789 626 1515 288926 303176 0 0 0 0 0 0 0 0 0 369315 377287 369315 377287 -80389 -74111 1878586 1801643 3597767 3594935 -1719181 -1793292 X THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN HOLLY SPRINGS, NC KNOWN AS HOLLY SPRINGS II APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMEENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 9 PROGRAM OF THE NATIONAL HOUSING ACT. 0 0 263622 150091 THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN HOLLY SPRINGS, NC KNOWN AS HOLLY SPRINGS II APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMEENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 9 PROGRAM OF THE NATIONAL HOUSING ACT. 263622 1 1 0 0 0 0 0 0 0 0 1 0 1 0 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 1 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 X LAURA GRIMES 3367650424 PO BOX 25168 WINSTONSALEM NC 27114 X X HOWARD PATTERSON CHAIRMAN 0.50 0.50 X X 0 0 0 JOHN HEMINGWAY TREASURER 0.50 0.50 X X 0 0 0 ROBERT SMITH SECRETARY 0.50 0.50 X X 0 0 0 ANTONIA ABRON DIRECTOR 0.50 0.50 X 0 0 0 CRYSTAL BULLOCK DIRECTOR 0.50 0.50 X 0 0 0 ERVIN R BOND DIRECTOR 0.50 0.50 X 0 0 0 FRANCES PULLEY DIRECTOR 0.50 0.50 X 0 0 0 WILLIAM SCOTT DIRECTOR 0.50 0.50 X 0 0 0 0 0 0 0 0 0 0 0 147216 147216 RENTAL INCOME 531110 164234 164234 164234 4354 4354 14143 -14143 -14143 -14143 TENANT CHARGES 531110 827 827 LAUNDRY & VENDING 531110 640 640 OTHER REVENUE-MISC. 531110 48 48 1515 303176 150091 0 5869 58262 58262 6581 6581 70 70 5511 5511 1441 1441 176120 176120 126 126 87490 87490 924 924 MTG CO EMPLOYEE CHARGEB 40750 40750 BAD DEBTS 12 12 377287 263622 113665 0 926 18375 1802 3035 225 225 3569950 1972812 1650872 1597138 207415 164574 17346 18296 1878586 1801643 145061 141181 433 65 3433000 3433000 19273 20689 3597767 3594935 X -1719181 -1793292 -1719181 -1793292 1878586 1801643 -74111 0 X X 0 1 X 1 1 1 X 128975 143064 139770 138964 147216 697989 116394 109224 122620 144107 164234 656579 245369 252288 262390 283071 311450 1354568 0 0 0 1354568 92 70 1942 5229 4354 11687 92 70 1942 5229 4354 11687 1768 1411 1686 626 1515 7006 247229 253769 266018 288926 317319 1373261 0.98640 0.98920 0.00850 0.00600 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. INCLUDED ON PAGE 9 IN CURRENT YEAR OTHER REVENUE LINE 7C IS A LOSS ON DISPOSAL OF DEPRECIABLE ASSETS OF $14,143. THE LOSS IS NOT BEING INCLUDED ON SCHEDULE A, PART III, LINE 12 BECAUSE IT DOES NOT MEET THE DEFINITION OF SUPPORT AS DEFINED IN SECTION 509 (D) OF THE INTERNAL REVENUE CODE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92500 92500 3460664 1956026 1504638 16786 16786 0 1597138 MORTGAGE ESCROW DEPOSITS 21996 C RESERVE REPLACEMENT FUND 135730 C RESIDUAL RECEIPTS 6848 C 164574 SECURITY DEPOSITS 17564 ACCRUED WAGES PAYABLE 2892 ACCRUED PAYROLL TAXES PAYABLE 233 20689 X 317319 14143 14143 303176 0 303176 395500 18213 18213 377287 0 377287 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: TAX LOSS ON DISPOSAL 14,143. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK TO TAX DEPRECIATION EXPENSE DIFFERENCE 4,068. LOSS ON DISPOSAL OF FIXED ASSET 14,145. FORM 990, PART VI, SECTION A, LINE 3 WAKE COUNTY OPPORTUNITIES HOUSING CORP. IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANGEMENT CORPORATION HAS A PROJECT OWNER'S & MANAGEMENT CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION HUD HAS APROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE HOLLY SPRINGS II APARTMENTS PROPERTY. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE INDEPENDENT ACCOUNTANT FOWARDS A DRAFT OF FORM 990 TO THE MANAGEMENT COMPANY, WHICH IN TURN DISPERSES A COMPLETE COPY OF THE 990 TO THE BOARD OF DIRECTORS FOR THIER REVIEW. UPON BOARD APPROVAL, THE BOARD PRESIDENT NOTIFIES THE MANAGEMENT COMPANY TO COMMUNICATE APPROVAL TO THE OUTSIDE ACCOUNTANT, WHICH ISSUES A FINAL RETURN FOR THE BOARD PRESIDENT TO SIGN AND FILE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES THEIR POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B HOURS WORKED FOR RELATED ORGANIZATIONS: ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED. FORM 990, PART XII, LINE 2C OVERVIEW OF AUDIT FUNCTION: 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. WAKE COUNTY OPPORTUNTITIES CORP 1415 OLD MILL CIRLCE WINSTON SALEM NC 27114 581878332 LOW INCOME HOUSING NC 501(C)(3) 509(A)(2) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0