Civic Intelligence

Ahepa 232 Inc.

990 • Fiscal year 2023 • EIN 35-1552643

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 16, 2024

7355 Shadeland Station WayIndianapolis, IN 46256

(317) 849-5591

Siviq Scores

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

Liabilities / Assets

88th percentile

0.66x

Higher debt load relative to assets than 88% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

3.75x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

23rd percentile

-10%

Higher net margin than 23% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

28th percentile

-2.6%

Faster asset growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

36th percentile

-1.2%

Faster revenue growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$4,330,573

Down $113,661 (-2.6%) from 2022

Net Assets

Down

$1,462,472

Down $78,965 (-5.1%) from 2022

Liabilities

Down

$2,868,101

Down $34,696 (-1.2%) from 2022

Revenue

Down

$764,202

Down $9,642 (-1.2%) from 2022

Expenses

Up

$843,167

Up $75,356 (+9.8%) from 2022

Net Income

Down

-$78,965

Down $84,998 (-1409%) from 2022

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $1,113,427Liabilities 2012: $1,536,744Net Assets 2012: -$423,3172012Assets 2013: $1,094,180Liabilities 2013: $1,447,949Net Assets 2013: -$353,7692013Assets 2014: $1,077,019Liabilities 2014: $1,392,450Net Assets 2014: -$315,4312014Assets 2015: $1,066,648Liabilities 2015: $1,332,351Net Assets 2015: -$265,7032015Assets 2016: $4,287,041Liabilities 2016: $4,146,239Net Assets 2016: $140,8022016Assets 2017: $4,930,960Liabilities 2017: $3,382,574Net Assets 2017: $1,548,3862017Assets 2018: $4,836,445Liabilities 2018: $3,273,284Net Assets 2018: $1,563,1612018Assets 2019: $4,764,266Liabilities 2019: $3,177,395Net Assets 2019: $1,586,8712019Assets 2020: $4,749,260Liabilities 2020: $3,134,805Net Assets 2020: $1,614,4552020Assets 2021: $4,501,005Liabilities 2021: $2,965,601Net Assets 2021: $1,535,4042021Assets 2022: $4,444,234Liabilities 2022: $2,902,797Net Assets 2022: $1,541,4372022Assets 2023: $4,330,573Liabilities 2023: $2,868,101Net Assets 2023: $1,462,4722023Assets 2024: $4,207,353Liabilities 2024: $2,810,438Net Assets 2024: $1,396,9152024

Highlighted filing

2023

Assets$4,330,573
Liabilities$2,868,101
Net Assets$1,462,472

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $599,2242012Expenses 2013: $557,9932013Revenue 2014: $647,637Expenses 2014: $609,299Net Income 2014: $38,3382014Revenue 2015: $651,520Expenses 2015: $601,792Net Income 2015: $49,7282015Revenue 2016: $1,104,072Expenses 2016: $697,567Net Income 2016: $406,5052016Revenue 2017: $2,169,128Expenses 2017: $761,544Net Income 2017: $1,407,5842017Revenue 2018: $718,717Expenses 2018: $703,942Net Income 2018: $14,7752018Revenue 2019: $735,541Expenses 2019: $711,831Net Income 2019: $23,7102019Revenue 2020: $745,883Expenses 2020: $718,299Net Income 2020: $27,5842020Revenue 2021: $762,936Expenses 2021: $841,983Net Income 2021: -$79,0472021Revenue 2022: $773,844Expenses 2022: $767,811Net Income 2022: $6,0332022Revenue 2023: $764,202Expenses 2023: $843,167Net Income 2023: -$78,9652023Revenue 2024: $822,200Expenses 2024: $887,757Net Income 2024: -$65,5572024

Highlighted filing

2023

Revenue$764,202
Expenses$843,167
Net Income-$78,965
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 16, 2024
Return Version
2022v5.0
Gross Receipts
$764,202
Mission and Program Overview

Mission

Ahepa 232, 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 own and operate a 72-unit apartment community in indianapolis, indiana, known as ahepa 232 apartments, pursuant to section 202 of the national affordable housing act, as amended. The sponsor of the corporation is ahepa national housing corporation.

The corporation was organized to construct, own, and operate an affordable housing apartment community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,394,507$3,326,698▼ $67,809
Cash and Non-Interest-Bearing Accounts$236,224$214,832▼ $21,392
Prepaid Expenses and Deferred Charges$32,338$39,893▲ $7,555
Accounts Receivable$4,616$9,822▲ $5,206
Total Assets$4,444,234$4,330,573▼ $113,661
Other Assets Total$776,549$739,328▼ $37,221
Liabilities
Unsecured Notes Loans Payable$2,848,677$2,790,132▼ $58,545
Accounts Payable and Accrued Expenses$33,174$56,604▲ $23,430
Other Liabilities$20,466$20,089▼ $377
Deferred Revenue$480$1,276▲ $796
Total Liabilities$2,902,797$2,868,101▼ $34,696
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,541,437$1,462,472▼ $78,965
Total Net Assets Fund Balance$1,541,437$1,462,472▼ $78,965
Total Liabilities and Net Assets / Fund Balance$4,444,234$4,330,573▼ $113,661

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,084,946$1,176,207$4,261,153
Equipment$79,619$206,932$286,551
Land$156,088-$156,088
Other Land Buildings$6,045$75,176$81,221
Other Assets Org$63,363--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Angelo KostaridesPresident
Angelo ZarvasVice President
Angela MagramesDirector
Ilias SotosDirector
Irene SarrisDirector
Nick SpirrisonDirector
Panos NiarchosDirector
Andrew SpirrisonSecretary
Irene DoneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$755,145
Investment Income
$1,052
Other Revenue
$8,005
Change in Net Assets
$-78,965

Audited Revenue Reconciliation

Revenue per Audited Statements
$764,202
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$764,202
Total Revenue per Form 990
$764,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$843,167
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$140,310--$140,310
Interest$106,460--$106,460
Insurance$66,569--$66,569
Occupancy$63,662--$63,662
Fees for Services Management-$53,325-$53,325
All Other Expenses$19,673--$19,673
Other Expenses$17,436--$17,436
Fees for Services Accounting-$10,312-$10,312
Information Technology$7,889--$7,889
Conferences and Meetings-$4,149-$4,149
Office Expenses$3,882--$3,882
Advertising$2,109--$2,109
Fees for Services Legal$1,222--$1,222
Total Functional Expenses$775,381$67,786$0$843,167

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$843,167
Total Expenses per Audited Statements$843,167
Total Expenses per Form 990$843,167
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 ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Liability$20,089
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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

The following members have a family relationship: andrew spirrison and nick spirrison.

Form 990, Part VI, Section A, Line 3

The corporation is managed by ahepa affordable management company, inc., an affiliate of a 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 us department of housing and urban development (hud). 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 outgoing 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

The directors of the corporation shall, at all times be, limited to individuals who are either members of ahepa national housing corporation, the sponsoring organization, or nonmembers who have the approval of the board of directors of the said sponsoring organization. If a director ceases to be a member of ahepa national housing corporation or if the aforementioned approval is withdrawn, then in either event, such shall constitute automatic resignation as a member and director of the corporation.

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

The irs form 990 is initially reviewed by the management company and then provided to the board of directors for review and final approval before filing the return.

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.

Part VII, Section A, Line 1A, Column B

All the officers, directors, and employees listed in part vii, section a, performed 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 hours worked for related organizations both in terms of number of hours worked and type of work performed.

Filing and Contact Details

Filer

Filer Name
Ahepa 232 Inc
EIN
35-1552643
Phone
3178495591
Address
7355 SHADELAND STATION WAY, INDIANAPOLIS, IN 46256

Signing Officer

Name
Angelo Kostarides
Title
President
Phone
3178495591
Signed
2024-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angelo Kostarides
Formed
1989
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Clark Schaefer Hackett & Co
Address
14 EAST MAIN STREET SUITE 500, SPRINGFIELD, OH 45502
Preparer
Renea R Irick
Phone
9373992000
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The process is consistent with prior years.

Financial Statement Notes

PART X, LINE 2:

No provision or benefit for income taxes has been included in these financial statements since the organization was organized as a not-for-profit corporation and has secured tax exempt status under section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the years ended june 30, 2023 and 2022. The organization has determined that all income tax filing positions would be sustained upon examination and accordingly, the organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions pursuant to asc 740 income taxes as of june 30, 2023 and 2022.

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IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MANAGEMENT EXPENSE STAF
IRS990/OtherExpensesGrp/Desc1CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc2SERVICE COORDINATOR EXP
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0168701
IRS990/OtherExpensesGrp/ProgramServicesAmt1116959
IRS990/OtherExpensesGrp/ProgramServicesAmt260509
IRS990/OtherExpensesGrp/ProgramServicesAmt317436
IRS990/OtherExpensesGrp/TotalAmt0168701
IRS990/OtherExpensesGrp/TotalAmt1116959
IRS990/OtherExpensesGrp/TotalAmt260509
IRS990/OtherExpensesGrp/TotalAmt317436
IRS990/OtherLiabilitiesGrp/BOYAmt020466
IRS990/OtherLiabilitiesGrp/EOYAmt020089
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt08005
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt08005
IRS990/OtherRevenueTotalAmt08005
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt032338
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt039893
IRS990/PrincipalOfficerNm0ANGELO KOSTARIDES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT ASSISTANCE HUD
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0515848
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1239297
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0515848
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1239297
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0166
IRS990/PYOtherExpensesAmt0767811
IRS990/PYOtherRevenueAmt08107
IRS990/PYProgramServiceRevenueAmt0765571
IRS990/PYRevenuesLessExpensesAmt06033
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0767811
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0773844
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-78965
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0755145
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01052
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0166
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0242
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01086
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0887
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03433
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0755145
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0765571
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0757264
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0725685
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0731982
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03735647
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0166
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0242
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01086
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0887
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03433
IRS990ScheduleA/InvestmentIncomeCYPct00.00090
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt08005
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt08107
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt05430
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt019172
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt02672
IRS990ScheduleA/OtherIncome509Grp/TotalAmt043386
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98760
IRS990ScheduleA/PublicSupportPY509Pct00.98930
IRS990ScheduleA/PublicSupportTotal509Amt03735647
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0755145
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0765571
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0757264
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0725685
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0731982
IRS990ScheduleA/Total509Grp/TotalAmt03735647
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0764202
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0773844
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0762936
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0745943
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0735541
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03782466
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03084946
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01176207
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04261153
IRS990ScheduleD/EquipmentGrp/BookValueAmt079619
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0206932
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0286551
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0843167
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0156088
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0156088
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0514292
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt121212
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2140461
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt363363
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ESCROW DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06045
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt075176
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt081221
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020089
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0764202
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS SINCE THE ORGANIZATION WAS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION AND HAS SECURED TAX EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. THE ORGANIZATION HAS DETERMINED THAT ALL INCOME TAX FILING POSITIONS WOULD BE SUSTAINED UPON EXAMINATION AND ACCORDINGLY, THE ORGANIZATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS PURSUANT TO ASC 740 INCOME TAXES AS OF JUNE 30, 2023 AND 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03326698
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0739328
IRS990ScheduleD/TotalExpensesPerForm990Amt0843167
IRS990ScheduleD/TotalLiabilityAmt020089
IRS990ScheduleD/TotalRevenuePerForm990Amt0764202
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0764202
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0843167
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING MEMBERS HAVE A FAMILY RELATIONSHIP: ANDREW SPIRRISON AND NICK SPIRRISON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION IS MANAGED BY AHEPA AFFORDABLE MANAGEMENT COMPANY, INC., AN AFFILIATE OF A 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 US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). 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 OUTGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DIRECTORS OF THE CORPORATION SHALL, AT ALL TIMES BE, LIMITED TO INDIVIDUALS WHO ARE EITHER MEMBERS OF AHEPA NATIONAL HOUSING CORPORATION, THE SPONSORING ORGANIZATION, OR NONMEMBERS WHO HAVE THE APPROVAL OF THE BOARD OF DIRECTORS OF THE SAID SPONSORING ORGANIZATION. IF A DIRECTOR CEASES TO BE A MEMBER OF AHEPA NATIONAL HOUSING CORPORATION OR IF THE AFOREMENTIONED APPROVAL IS WITHDRAWN, THEN IN EITHER EVENT, SUCH SHALL CONSTITUTE AUTOMATIC RESIGNATION AS A MEMBER AND DIRECTOR OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE IRS FORM 990 IS INITIALLY REVIEWED BY THE MANAGEMENT COMPANY AND THEN PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND FINAL APPROVAL BEFORE FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A, PERFORMED 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 HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS WORKED AND TYPE OF WORK PERFORMED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS IS CONSISTENT WITH PRIOR YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART VII, SECTION A, LINE 1A, COLUMN B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0AHEPA 232 PHASE II INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1AHEPA 232 III INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0351635762
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1331039034
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IN

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