Civic Intelligence

Promise Development Corporation

EIN 31-1708526 • 501(c)3 • Memphis, TN

Profile

Promote economic development in the north memphis community by providing affordable housing

262 Chelsea Ave Ste 101Memphis, TN 38107

pdevcorp.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

50th percentile

0.13x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

57th percentile

0.21x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

77th percentile

25%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

59th percentile

$127,714

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

62nd percentile

9.2%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2022

Revenue Growth

51st percentile

7.2%

Faster revenue growth than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2022

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$7,218,735

Up $68,512 (+1.0%) from 2022

Liabilities

Down

$869,025

Down $32,699 (-3.6%) from 2022

Net Assets

Up

$6,349,710

Up $101,211 (+1.6%) from 2022

Operations
Liabilities / Revenue57th percentileNet Margin77th percentile

Revenue

Down

$3,499,542

Down $778,023 (-18%) from 2022

Expenses

Up

$3,450,236

Up $250,983 (+7.8%) from 2022

Net Income

Down

$49,306

Down $1,029,006 (-95%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth62nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $4,582,302Liabilities 2016: $559,022Net Assets 2016: $4,023,2802016Assets 2018: $4,996,655Liabilities 2018: $436,189Net Assets 2018: $4,560,4662018Assets 2019: $5,024,263Liabilities 2019: $857,745Net Assets 2019: $4,166,5182019Assets 2020: $5,992,520Liabilities 2020: $881,000Net Assets 2020: $5,111,5202020Assets 2021: $5,823,077Liabilities 2021: $652,890Net Assets 2021: $5,170,1872021Assets 2022: $7,150,223Liabilities 2022: $901,724Net Assets 2022: $6,248,4992022Assets 2023: $7,218,735Liabilities 2023: $869,025Net Assets 2023: $6,349,7102023

Highlighted filing

2023

Assets$7,218,735
Liabilities$869,025
Net Assets$6,349,710
Open 2023 Filing

Operations Trend

Revenue Growth51st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $2,333,806Expenses 2016: $2,478,829Net Income 2016: -$145,0232016Revenue 2018: $2,584,353Expenses 2018: $2,257,620Net Income 2018: $326,7332018Revenue 2019: $2,516,184Expenses 2019: $2,380,334Net Income 2019: $135,8502019Revenue 2020: $3,719,840Expenses 2020: $2,774,838Net Income 2020: $945,0022020Revenue 2021: $3,033,896Expenses 2021: $2,975,229Net Income 2021: $58,6672021Revenue 2022: $4,277,565Expenses 2022: $3,199,253Net Income 2022: $1,078,3122022Revenue 2023: $3,499,542Expenses 2023: $3,450,236Net Income 2023: $49,3062023

Highlighted filing

2023

Revenue$3,499,542
Expenses$3,450,236
Net Income$49,306
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,218,735
Liabilities
$869,025
Net assets
$6,349,710
Revenue
$3,499,542
Expenses
$3,450,236
Net income
$49,306
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$7.22$0.87$6.35$3.50$3.45$0.05
2022Detailed filing. Detailed filing data is available for this year.$7.15$0.90$6.25$4.28$3.20$1.08
2021Detailed filing. Detailed filing data is available for this year.$5.82$0.65$5.17$3.03$2.98$0.06
2020Detailed filing. Detailed filing data is available for this year.$5.99$0.88$5.11$3.72$2.77$0.95
2019Detailed filing. Detailed filing data is available for this year.$5.02$0.86$4.17$2.52$2.38$0.14
2018Detailed filing. Detailed filing data is available for this year.$5.00$0.44$4.56$2.58$2.26$0.33
2016Detailed filing. Detailed filing data is available for this year.$4.58$0.56$4.02$2.33$2.48$0.15
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.1
Gross Receipts
$3,499,542
Mission and Program Overview

Mission

Promote economic development in the north memphis community by providing affordable housing

To enhance the quality of life through creating and preserving housing, promoting economic development opportunities and encouraging community life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,506,699$6,841,592▲ $334,893
Pledges and Grants Receivable$69,287$218,144▲ $148,857
Other Notes and Loans Receivable, Net$402,882$71,080▼ $331,802
Cash and Non-Interest-Bearing Accounts$102,406$58,977▼ $43,429
Prepaid Expenses and Deferred Charges$44,307--
Receivables From Officers Etc$6,857$6,857→ $0
Investments Program Related$100$100→ $0
Total Assets$7,150,223$7,218,735▲ $68,512
Other Assets Total$17,685$21,985▲ $4,300
Liabilities
Mortgage Notes Payable Secured by Investment Property$551,163$514,172▼ $36,991
Accounts Payable and Accrued Expenses$306,669$304,863▼ $1,806
Other Liabilities$43,892$49,990▲ $6,098
Total Liabilities$901,724$869,025▼ $32,699
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,248,499$6,349,710▲ $101,211
Total Net Assets Fund Balance$6,248,499$6,349,710▲ $101,211
Total Liabilities and Net Assets / Fund Balance$7,150,223$7,218,735▲ $68,512

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,568,502$2,168,500$6,737,002
Land$1,610,787-$1,610,787
Equipment$639,000$214,030$853,030
Other Land Buildings$23,303-$23,303
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cornelius SandersExecutive DirectorPT$124,668$3,579$128,247
Reva MarshallSecretaryPT$25,017$333$25,350

Board Members and Trustees

NameTitle
Chemise BuirseBoard Chair/president
Janice BennettVice President
Demetra KeysMember
Justin StarlingMember
Melvin WilliamsMember
Robert MaloneMember
Rodney SandersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
B&w ExcavatingConstructionPO BOX 80408, Memphis, TN 38108$575,000
Walden Pointe ApartmentsRent4168 THE PLACE ST 3, Memphis, TN 38128$125,010
Revenue and Support

Revenue Composition

Contributions and Grants
$2,212,616
Program Service Revenue
$1,286,926
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,151,079
Change in Net Assets
$49,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,586,985
Salaries, Compensation, and Employee Benefits$863,251
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$313,551$308,824-$622,375
Occupancy$592,942--$592,942
Depreciation Depletion$218,671$54,668-$273,339
Insurance$171,786$42,946-$214,732
Current Officers, Directors, Trustees, and Key Employees$149,684--$149,684
All Other Expenses$59,974$39,117-$99,091
Other Expenses$14,208$56,833-$71,041
Travel$45,583$11,396-$56,979
Payroll Taxes$52,008--$52,008
Other Employee Benefits$2,707$36,477-$39,184
Fees for Services Legal$3,077$27,692-$30,769
Interest$24,326--$24,326
Advertising$6,884--$6,884
Fees for Services Accounting$255$2,295-$2,550
Total Functional Expenses$2,736,782$713,454$0$3,450,236
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
James WardSpouse of Housing and Community CoordinatorRepairs, Maintenance, and Landscaping ServicesNo$80,766

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$6,857$6,857→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$49,990
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The board of directors is given an opportunity to review the return before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest policy is updated annually.”

Form 990, Part VI, Section B, Line 15

“Compensation is reviewed and approved annually”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Promise Development Corporation
EIN
31-1708526
Phone
9019070035
Address
262 CHELSEA AVE STE 101, MEMPHIS, TN 38107

Signing Officer

Name
Cornelius Sanders
Title
Executive Director
Phone
9019070035
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cornelius Sanders
Formed
2006
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
33
Volunteers
0

Preparer

Firm
Frazee Ivy Davis Plc
Address
5100 POPLAR AVE STE 1400, MEMPHIS, TN 38137-1499
Preparer
J Slater Smithers CPA
Phone
9016851040
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

“The process has not changed from the prior year.”

Raw XML AppendixShowing 400 of 523 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherEmployeeBenefitsGrp/TotalAmt039184
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc2UTILITIES, CABLE, AND I
IRS990/OtherExpensesGrp/Desc3BUSINESS EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt038320
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt134787
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt260099
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt356833
IRS990/OtherExpensesGrp/ProgramServicesAmt0440677
IRS990/OtherExpensesGrp/ProgramServicesAmt1400054
IRS990/OtherExpensesGrp/ProgramServicesAmt2240395
IRS990/OtherExpensesGrp/ProgramServicesAmt314208
IRS990/OtherExpensesGrp/TotalAmt0478997
IRS990/OtherExpensesGrp/TotalAmt1434841
IRS990/OtherExpensesGrp/TotalAmt2300494
IRS990/OtherExpensesGrp/TotalAmt371041
IRS990/OtherLiabilitiesGrp/BOYAmt043892
IRS990/OtherLiabilitiesGrp/EOYAmt049990
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0308824
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0313551
IRS990/OtherSalariesAndWagesGrp/TotalAmt0622375
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0402882
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt071080
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt052008
IRS990/PayrollTaxesGrp/TotalAmt052008
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt069287
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0218144
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt044307
IRS990/PrincipalOfficerNm0CORNELIUS SANDERS
IRS990/PriorPeriodAdjustmentsAmt051905
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/BusinessCd2532000
IRS990/ProgramServiceRevenueGrp/BusinessCd3532000
IRS990/ProgramServiceRevenueGrp/BusinessCd4532000
IRS990/ProgramServiceRevenueGrp/Desc0LOW INCOME HOUSING REN
IRS990/ProgramServiceRevenueGrp/Desc1MISCELLANEOUS
IRS990/ProgramServiceRevenueGrp/Desc2LAWN CARE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3APPLICATION FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc4LATE FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01203825
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt148379
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt233036
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31155
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4303
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01203825
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt148379
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt233036
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31155
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4303
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03032764
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03500
IRS990/PYOtherExpensesAmt02388460
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01241301
IRS990/PYRevenuesLessExpensesAmt01078312
IRS990/PYSalariesCompEmpBnftPaidAmt0810793
IRS990/PYTotalExpensesAmt03199253
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04277565
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt06857
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt06857
IRS990/ReconcilationRevenueExpnssAmt049306
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01286926
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02212616
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03032764
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01670067
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02805778
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01957193
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011678418
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0558991
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0558991
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95430
IRS990ScheduleA/PublicSupportPY170Pct00.91180
IRS990ScheduleA/PublicSupportTotal170Amt011678418
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02212616
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03032764
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01670067
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02805778
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01957193
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt011678418
IRS990ScheduleA/TotalSupportAmt012237409
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04568502
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02168500
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06737002
IRS990ScheduleD/EquipmentGrp/BookValueAmt0639000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0214030
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0853030
IRS990ScheduleD/LandGrp/BookValueAmt01610787
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01610787
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt023303
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023303
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt049990
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06841592
IRS990ScheduleD/TotalLiabilityAmt049990
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JAMES WARD
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SPOUSE OF HOUSING AND COMMUNITY COORDINATOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt080766
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0REPAIRS, MAINTENANCE, AND LANDSCAPING SERVICES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt06857
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0EPI HOLDINGS LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0PROMISE DEVELOPMENT CORP ADVANCED EXPENSES ON BEHALF OF EPI HOLDINGS, LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt06857
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0THE EXECUTIVE DIRECTOR IS THE SOLE OWNER OF EPI HOLDINGS.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt06857
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS IS GIVEN AN OPPORTUNITY TO REVIEW THE RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST POLICY IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS REVIEWED AND APPROVED ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0710963583
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd01
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.00500
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0RESIDENTIAL REAL ESTATE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0APRIL WOODS APARTMENTS LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt040 SOUTH MAIN SUITE 2560
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0MEMPHIS
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd038103

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