Ahepa 232 III Inc.

990 • Fiscal year 2014 • EIN 33-1039034

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 04, 2014

Organization Profile N/A

7355 Shadeland Station Way46256

(317) 844-7480

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

0.02x

Higher debt load relative to assets than 30% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

0.17x

Higher debt load relative to revenue than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

-30%

Higher net margin than 10% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

-3.6%

Faster asset growth than 25% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet

Liabilities / Assets30th percentile

Assets

Down

$2,885,189

Down $107,467 (-3.6%) from 2013

Net Assets

Down

$2,825,311

Down $103,629 (-3.5%) from 2013

Liabilities

Down

$59,878

Down $3,838 (-6.0%) from 2013

Revenue And Expenses

Liabilities / Revenue59th percentile Net Margin10th percentile

Revenue

$351,035

No earlier filing loaded for comparison.

Expenses

$454,664

Up $22,489 (+5.2%) from 2013

Net Income

-$103,629

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

Highlighted filing

2014

Assets$2,885,189

Liabilities$59,878

Net Assets$2,825,311

Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

Highlighted filing

2014

Revenue$351,035

Expenses$454,664

Net Income-$103,629

Open 2014 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2013 to Jun 30, 2014
Signed: Nov 4, 2014
Return Version: 2013v3.0
Gross Receipts: $351,035

Mission and Program Overview

Mission

Ahepa 232 iii, inc. Is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of indiana. The corporation was organized to construct, own and operate a 50-unit apartment community in indianapolis, indiana, known as ahepa 232 phase iii apartments, pursuant to section 202 of the national affordable housing act, as amended. The sponsor of the corporation is ahepa national housing corporation.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$2,769,230	$2,679,505	▼ $89,725
Investments Program Related	$195,001	$177,254	▼ $17,747
Prepaid Expenses and Deferred Charges	$10,415	$10,421	▲ $6
Cash and Non-Interest-Bearing Accounts	$2,824	$2,823	▼ $1
Accounts Receivable	$894	$890	▼ $4
Total Assets	$2,992,656	$2,885,189	▼ $107,467
Other Assets Total	$14,292	$14,296	▲ $4
Liabilities
Accounts Payable and Accrued Expenses	$40,287	$35,706	▼ $4,581
Other Liabilities	$23,429	$24,172	▲ $743
Total Liabilities	$63,716	$59,878	▼ $3,838
Net Assets / Fund Balance
Unrestricted Net Assets	$2,928,940	$2,825,311	▼ $103,629
Total Net Assets Fund Balance	$2,928,940	$2,825,311	▼ $103,629
Total Liabilities and Net Assets / Fund Balance	$2,992,656	$2,885,189	▼ $107,467

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$2,333,431	$741,597	$3,075,028
Land	$325,000	-	$325,000
Equipment	$21,074	$106,818	$127,892
Investment Program Related Org	$5,000	-	-

Compensation and Service Providers

Top Officer Pay34th percentile

Board Members and Trustees

Name	Title
Angelo Kostarides	President
Angelo Zarvas	Vice President
Angela Magrames	Director
George Karampas	Director
Ilias Sotos	Director
Irene Sarris	Director
Andrew Spirrison	Former Secretary
Nick Spirrison	Secretary
Aristotle Nicolaides	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $195,755
Program Service Revenue: $152,774
Investment Income: $135
Other Revenue: $2,371
Change in Net Assets: $-103,629

Audited Revenue Reconciliation

Revenue per Audited Statements: $351,035
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $0
Total Revenue per Audited Statements: $351,035
Total Revenue per Form 990: $351,035

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$454,664
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Occupancy	$164,560	-	-	$164,560
Depreciation Depletion	$89,727	-	-	$89,727
Other Expenses	$52,825	-	-	$52,825
Fees for Services Management	-	$40,039	-	$40,039
Office Expenses	-	$10,361	-	$10,361
Fees for Services Accounting	-	$8,475	-	$8,475
Information Technology	-	$3,993	-	$3,993
Conferences and Meetings	-	$1,866	-	$1,866
Advertising	-	$522	-	$522
Insurance	-	$309	-	$309
Total Functional Expenses	$389,099	$65,565	$0	$454,664

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$454,664
Total Expenses per Audited Statements	$454,664
Total Expenses per Form 990	$454,664
Expenses Not Reported on Financial Statements	$0
Expenses Not Reported on Form 990	$0

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
58-2170955	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
06-1783644	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
72-1397412	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
65-0444455	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-0877902	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1140959	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1262817	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
76-0402131	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
76-0492575	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
76-0580172	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
20-2099590	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
20-4271422	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
36-4304808	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
26-1587755	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-2989708	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
42-1417593	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-3210357	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
43-1224060	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
43-1455622	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
26-1531552	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
27-3127414	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
20-4874218	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
27-3543590	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
06-1084245	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
34-1964795	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
23-3087877	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
27-3219515	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
26-1866424	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-3112741	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
16-1565446	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-1634086	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-1916082	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-1978023	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-2104146	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
73-1694582	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
32-0192583	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
34-1467775	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-2157104	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
06-1160495	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-3433990	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
75-3030804	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
31-1539595	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
30-0054200	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
04-3401165	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
31-1760703	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
30-0141823	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
39-2068442	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
25-1856119	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
42-1329782	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
42-1487324	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
27-0084978	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-1552643	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-1635762	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
20-3265536	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-2778822	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-3348871	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-2855925	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
22-3265024	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
06-1422444	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
20-4556679	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
26-4231174	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
56-2031674	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
56-2133469	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
14-1993928	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-2317285	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
75-3149099	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
56-2523021	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-0955243	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
57-0886811	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1039178	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1080112	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
91-1955630	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1194202	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
63-1262819	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
43-1962855	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
36-4528066	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
90-0343256	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
80-0360315	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
35-2390578	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
04-3708201	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
38-2742386	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
38-3554484	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
56-1961732	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
59-3699587	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
59-2842462	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
59-3760329	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
85-0439854	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
85-0458871	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
30-0241540	-	Affordable Low-income Housing	501(c)(3)	Line 9	No
52-1295844	-	Sponsoring and Granting Various Hud Developments for Elderly/handicapped	501(c)(3)	Line 9	No
35-1867058	-	Management & Operation of Affordable Housing	501(c)(3)	Line 9	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
27-3561603	-	Affordable Low-income Housing	-	-	-	No
80-0815644	-	Affordable Low-income Housing	-	-	-	No

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Tenant Security Deposits	$13,345
Minimum Capital Investment	$10,827

Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Two members of the board are brothers. There are no business relationships with each other or with the organization.”

Form 990, Part VI, Section A, Line 3

“The corporation is managed by ahepa affordable management company, inc., an affiliate of ahepa national housing corporation. Ahepa affordable management company, inc. Has a project owner's and management agent's certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved ahepa affordable management company, inc. To manage the underlying project of the corporation. 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 A, Line 7A

“With the exception of a director of the corporation who satisfies the community representation requirements, membership in the corporation shall, at all times, be limited to individuals who are either members of ahepa national housing corporation, or nonmembers who have the approval of the board of directors of ahepa national housing corporation. In the event that a member of the corporation ceases to be a member of ahepa national housing corporation, or, if the aforesaid approval is withdrawn, then, in either event, such shall constitute automatic resignation as a member and director of the corporation. The director who satisfies the community representation requirement shall automatically be qualified as a member of the corporation.”

Form 990, Part VI, Section B, Line 11

“The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.”

Form 990, Part VI, Section C, Line 19

“The 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:

“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.”

Filing and Contact Details

Filer

EIN: 33-1039034
Phone: 3178447480

Signing Officer

Name: Angelo Kostarides
Title: President
Phone: 3178447480
Signed: 2014-11-04
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Angelo Kostarides
Formed: 2002
Legal Domicile: In
Voting Board Members: 8
Independent Board Members: 8
Employees: 0
Volunteers: 0

Preparer

Preparer: Steven R Hise
Phone: 3178485700

Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“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.”

Financial Statement Notes

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.”

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IRS990/Form990PartVIISectionAGrp/PersonNm	3	NICK SPIRRISON
IRS990/Form990PartVIISectionAGrp/PersonNm	4	ARISTOTLE NICOLAIDES
IRS990/Form990PartVIISectionAGrp/PersonNm	5	IRENE SARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm	6	ILIAS SOTOS
IRS990/Form990PartVIISectionAGrp/PersonNm	7	GEORGE KARAMPAS
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IRS990/Form990PartVIISectionAGrp/TitleTxt	1	VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt	2	FORMER SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt	3	SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt	4	TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt	5	DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt	6	DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt	7	DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt	8	DIRECTOR
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IRS990/MissionDesc	0	AHEPA 232 III, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN INDIANAPOLIS, INDIANA, KNOWN AS AHEPA 232 PHASE III APARTMENTS, PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT, AS AMENDED. THE SPONSOR OF THE CORPORATION IS AHEPA NATIONAL HOUSING CORPORATION.
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IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	193
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IRS990/PYOtherRevenueAmt	0	9874
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IRS990/ReportOtherAssetsInd	0	0
IRS990/ReportOtherLiabilitiesInd	0	1
IRS990/ReportProgramRelatedInvstInd	0	1
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IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt	0	MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS.
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt	0	190979
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt	0	192063
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt	0	578797
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt	0	135
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt	0	304
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt	0	393
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt	0	276
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt	0	1301
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt	0	152774
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt	0	144985
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt	0	134113
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt	0	314880
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt	0	313643
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt	0	1060395
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt	0	135
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt	0	304
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt	0	393
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt	0	276
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt	0	1301
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt	0	313643
IRS990ScheduleA/Total509Grp/TotalAmt	0	1639192
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt	0	328068
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt	0	317345
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt	0	1658205
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	RESTRICTED
IRS990/ScheduleBRequiredInd	0	1
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	2333431
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	741597
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	3075028
IRS990ScheduleD/EquipmentGrp/BookValueAmt	0	21074
IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	106818
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt	0	127892
IRS990ScheduleD/ExpensesNotReportedAmt	0	0
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt	0	0
IRS990ScheduleD/ExpensesSubtotalAmt	0	454664
IRS990ScheduleD/FootnoteTextInd	0	X
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt	1	24909
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt	2	10827
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt	3	5000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	0	RESERVE FOR REPLACEMENTS FUND
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	1	PAINTING RESERVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	2	MINIMUM CAPITAL INVESTMENT FUND
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	3	ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	0	C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	1	C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	2	C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd	3	C
IRS990ScheduleD/LandGrp/BookValueAmt	0	325000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	325000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	13345
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	10827
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	1	MINIMUM CAPITAL INVESTMENT
IRS990ScheduleD/RevenueNotReportedAmt	0	0
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt	0	0
IRS990ScheduleD/RevenueSubtotalAmt	0	351035
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueProgramRltdAmt	0	177254
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IRS990ScheduleD/TotalRevenuePerForm990Amt	0	351035
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IRS990/ScheduleJRequiredInd	0	0
IRS990/ScheduleORequiredInd	0	1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	TWO MEMBERS OF THE BOARD ARE BROTHERS. THERE ARE NO BUSINESS RELATIONSHIPS WITH EACH OTHER OR WITH THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	THE CORPORATION IS MANAGED BY AHEPA AFFORDABLE MANAGEMENT COMPANY, INC., AN AFFILIATE OF AHEPA NATIONAL HOUSING CORPORATION. AHEPA AFFORDABLE MANAGEMENT COMPANY, INC. HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED AHEPA AFFORDABLE MANAGEMENT COMPANY, INC. TO MANAGE THE UNDERLYING PROJECT OF THE CORPORATION. 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	WITH THE EXCEPTION OF A DIRECTOR OF THE CORPORATION WHO SATISFIES THE COMMUNITY REPRESENTATION REQUIREMENTS, MEMBERSHIP IN THE CORPORATION SHALL, AT ALL TIMES, BE LIMITED TO INDIVIDUALS WHO ARE EITHER MEMBERS OF AHEPA NATIONAL HOUSING CORPORATION, OR NONMEMBERS WHO HAVE THE APPROVAL OF THE BOARD OF DIRECTORS OF AHEPA NATIONAL HOUSING CORPORATION. IN THE EVENT THAT A MEMBER OF THE CORPORATION CEASES TO BE A MEMBER OF AHEPA NATIONAL HOUSING CORPORATION, OR, IF THE AFORESAID APPROVAL IS WITHDRAWN, THEN, IN EITHER EVENT, SUCH SHALL CONSTITUTE AUTOMATIC RESIGNATION AS A MEMBER AND DIRECTOR OF THE CORPORATION. THE DIRECTOR WHO SATISFIES THE COMMUNITY REPRESENTATION REQUIREMENT SHALL AUTOMATICALLY BE QUALIFIED AS A MEMBER OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	6	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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	6	FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd	0	0
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	0
IRS990ScheduleR/AssetSaleToOtherOrgInd	0	0
IRS990ScheduleR/DivRelatedOrganizationInd	0	0
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd	0	0
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	0	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	1	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1	0	AHEPA 310 INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1	1	AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	0	300781299
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	0	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	1	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	0	AL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	1	IN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt	0	AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt	1	SENIOR LIVING (MARKET RATE)
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1	0	AHEPA 310 APARTMENTS-GP INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1	1	HELLENIC MANAGEMENT INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1	0	3656 GOVERNMENT BLVD

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $2,885,189
Liabilities: $59,878
Net assets: $2,825,311
Revenue: $351,035
Expenses: $454,664
Net income: -$103,629

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$2.51	$0.08	$2.44	$0.64	$0.62	$0.02
2023Detailed filing. Detailed filing data is available for this year.	$2.47	$0.05	$2.42	$0.57	$0.59	$0.02
2022Detailed filing. Detailed filing data is available for this year.	$2.49	$0.05	$2.44	$0.53	$0.57	$0.03
2021Detailed filing. Detailed filing data is available for this year.	$2.53	$0.05	$2.48	$0.51	$0.53	$0.03
2020Detailed filing. Detailed filing data is available for this year.	$2.54	$0.04	$2.50	$0.52	$0.52	$0.00
2019Detailed filing. Detailed filing data is available for this year.	$2.61	$0.11	$2.50	$0.47	$0.50	$0.03
2018Detailed filing. Detailed filing data is available for this year.	$2.67	$0.13	$2.53	$0.39	$0.47	$0.08
2017Detailed filing. Detailed filing data is available for this year.	$2.67	$0.05	$2.61	$0.39	$0.46	$0.07
2016Detailed filing. Detailed filing data is available for this year.	$2.72	$0.04	$2.68	$0.39	$0.46	$0.07
2015Detailed filing. Detailed filing data is available for this year.	$2.80	$0.05	$2.75	$0.38	$0.45	$0.07
2014Detailed filing. Detailed filing data is available for this year.	$2.89	$0.06	$2.83	$0.35	$0.45	$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.99	$0.06	$2.93		$0.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$3.07	$0.05	$3.02		$0.43