Milford Housing Development Fund Company Inc

“Regarding the facts and circumstances test on schedule a, part ii.milford housing development fund co. (mhdfc) was formed in 1993 as a public charity to provide housing for low income individuals. Mhdfc assisted with the development of milford apartments, lp, a 28-unit low income housing project located in milford, new york. The project was funded by loan proceeds from the new york state housing trust fund corporation (htfc). The operating activities of the project are governed by the partnership agreement and the htfc.on august 10, 2010, mhdfc acquired a 99% ownership interest in the project and is its sole limited partner. Although mhdfc does not meet its public support test for 2018, the transfer of the property in milford to a limited partnership was required by the htfc to set up project development, and the intention is that the property will revert back to mhdfc to continue operations and to try and receive other forms of public support to pursue its mission in the future. So it is important to maintain the mhdfc as a publicly supported 501(c)(3) and not a private foundation.”

“Description AmountK-1 MILFORD APTS LP - ALLOC LOSS 52,781NYS CHARITIES BUREAU 25”

“Category Beginning of Year End of YearDUE FROM MILFORD APTS, INC 35,126 35,126”

“Category Beginning of Year End of YearINVESTMENT IN MILFORD APTS, LP 646,076 698,841DUE TO MILFORD APTS, LP 25 50”

“Ending net assets originally reported as of 12/31/2018 was $569,751, and an amended return was recently filed, which resulted in amended ending net assets equal to $610,975, a change of $41,224, equal to the total adjustment recorded in the amended return.”