Ahepa 232 Phase II Inc.

990 • Fiscal year 2018 • EIN 35-1635762

Jul 01, 2017 to Jun 30, 2018 • Filed on May 12, 2019

Organization Profile N/A

7355 Shadeland Station WayIndianapolis, IN 46256

(317) 845-3410

Siviq Scores

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

1.20x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

5.79x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

-5.8%

Higher net margin than 26% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

-4.4%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

-11%

Faster revenue growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet

Liabilities / Assets94th percentile

Assets

Down

$2,154,477

Down $99,914 (-4.4%) from 2017

Net Assets

Down

-$435,837

Down $25,990 (-6.3%) from 2017

Liabilities

Down

$2,590,314

Down $73,924 (-2.8%) from 2017

Revenue And Expenses

Liabilities / Revenue96th percentile Net Margin26th percentile

Revenue

Down

$447,716

Down $55,376 (-11%) from 2017

Expenses

Down

$473,706

Down $26,919 (-5.4%) from 2017

Net Income

Down

-$25,990

Down $28,457 (-1154%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

Highlighted filing

2018

Assets$2,154,477

Liabilities$2,590,314

Net Assets-$435,837

Open 2018 Filing

Operations Trend

Revenue Growth21st percentile

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

Highlighted filing

2018

Revenue$447,716

Expenses$473,706

Net Income-$25,990

Open 2018 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2017 to Jun 30, 2018
Signed: May 12, 2019
Return Version: 2017v2.3
Gross Receipts: $447,716

Mission and Program Overview

Mission

Ahepa 232 phase ii, 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 50-unit apartment community in indianapolis, indiana, known as ahepa 232 phase ii 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	$1,537,233	$1,467,467	▼ $69,766
Investments Program Related	$497,974	$485,633	▼ $12,341
Intangible Assets	$107,788	$104,554	▼ $3,234
Cash and Non-Interest-Bearing Accounts	$77,262	$61,962	▼ $15,300
Prepaid Expenses and Deferred Charges	$15,160	$16,125	▲ $965
Accounts Receivable	$1,279	$2,035	▲ $756
Total Assets	$2,254,391	$2,154,477	▼ $99,914
Other Assets Total	$17,695	$16,701	▼ $994
Liabilities
Mortgage Notes Payable Secured by Investment Property	$2,571,907	$2,531,796	▼ $40,111
Accounts Payable and Accrued Expenses	$62,930	$41,821	▼ $21,109
Other Liabilities	$29,401	$16,697	▼ $12,704
Total Liabilities	$2,664,238	$2,590,314	▼ $73,924
Net Assets / Fund Balance
Unrestricted Net Assets	$-409,847	$-435,837	▼ $25,990
Total Net Assets Fund Balance	$-409,847	$-435,837	▼ $25,990
Total Liabilities and Net Assets / Fund Balance	$2,254,391	$2,154,477	▼ $99,914

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$1,347,200	$695,429	$2,042,629
Leasehold Improvements	$51,829	$213,202	$265,031
Equipment	$51,538	$82,246	$133,784
Land	$16,900	-	$16,900
Investment Program Related Org	$19,752	-	-

Compensation and Service Providers

Top Officer Pay35th percentile

Board Members and Trustees

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

Revenue and Support

Revenue Composition

Contributions and Grants: $298,844
Program Service Revenue: $147,506
Investment Income: $199
Other Revenue: $1,167
Change in Net Assets: $-25,990

Audited Revenue Reconciliation

Revenue per Audited Statements: $447,716
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $0
Total Revenue per Audited Statements: $447,716
Total Revenue per Form 990: $447,716

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$473,706
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	$232,384	-	-	$232,384
Depreciation Depletion	$73,000	-	-	$73,000
Other Expenses	$37,025	-	-	$37,025
Fees for Services Management	-	$29,043	-	$29,043
Fees for Services Accounting	-	$8,850	-	$8,850
Office Expenses	-	$6,684	-	$6,684
Fees for Services Legal	-	$5,766	-	$5,766
Information Technology	-	$2,483	-	$2,483
Conferences and Meetings	-	$1,239	-	$1,239
Advertising	-	$803	-	$803
Travel	-	$607	-	$607
Insurance	-	$124	-	$124
Total Functional Expenses	$418,107	$55,599	$0	$473,706

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$473,706
Total Expenses per Audited Statements	$473,706
Total Expenses per Form 990	$473,706
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
Ahepa 100 Inc	South Bend, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 110 Ii Inc	Norwich, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 110 Iii Inc	Norwich, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 110 Inc	Norwich, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 113 Inc	Beavercreek, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 118 Inc	Toledo, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 127 Ii Inc	Cincinnati, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 127 Inc	Milford, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 133 Penelope 55 Inc	New Orleans, LA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 156 Inc	Canonsburg, PA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 18 Inc	W Palm Beach, FL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 192 Ii Inc	Ankeny, IA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 192 Iii Inc	Ankeny, IA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 192 Inc	Johnston, IA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 23 Ii Inc	Montgomery, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 23 Iii Inc	Montgomery, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 23 Inc	Montgomery, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 232 Iii Inc	Indianapolis, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 232 Inc	Indianapolis, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 242 Inc	Greenville, SC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 245 Ii Inc	Newport, RI	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 245 Inc	Newport, RI	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 250 Ii Inc	Waterford, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 250 Iii Inc	Groton, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 250 Inc	Niantic, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 250 Iv Inc	Niantic, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 250 V Inc	Niantic, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 284 Ii Inc	Columbia, SC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 284 Iii Inc	Columbia, SC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 284 Inc	Columbia, SC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 284 Iv Inc	Columbia, SC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 29 Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 29 Phase Ii Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 29 Phase Iii Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 29 Phase Iv Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 296 Inc	Pensacola, FL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 3 Inc	Hoover, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 302 Inc	San Bernardino, CA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Iii Inc	Fairhope, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Inc (ahepa 310 Ii)	Merrillville, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Iv Inc	Saraland, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Ix Inc	Theodore, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 V Inc	Mobile, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Vi Inc	Mobile, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Vii Inc	Mobile, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Viii Inc	Irvington, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 X Inc	Semmes, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Xi Inc	Theodore, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 Xii Inc	Daphne, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 310 of Citronelle Inc	Citronelle, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 343 Inc	Lavergne, TN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 35 Inc	Nashua, NH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 37 Inc	Syracuse, NY	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 371 Ii Inc	Harrison Twp, MI	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 371 Inc	Harrison Twp, MI	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 39 Inc	Haverhill, MA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 408 Inc	Wilmington, NC	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 410 Inc	Daytona Beach, FL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 421 Inc	North Miami, FL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 489 Apartments Inc	New Port Richey, FL	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 501 Ii Inc	Albuquerque, NM	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 501 Iii Inc	Albuquerque, NM	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 501 Inc	Albuquerque, NM	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 53 Ii Inc	St Louis, MO	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 53 Iii Inc	St Louis, MO	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 53 Inc	St Louis, MO	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 53 Iv Inc	St Louis, MO	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 58 Inc	Wethersfield, CT	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 59 Inc	Canton, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 60 Inc	Allentown, PA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 63 Inc	Fairlawn, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 67 Inc	Webster, NY	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Phase Ii Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Phase Iii Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Phase Iv Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Phase V Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 78 Phase Vi Inc	Merrillville, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa 89 Inc	Boardman, OH	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa Affordable Housing Management Company Inc	Fishers, IN	Management & Operation of Affordable Housing	501(c)(3)	Line 10	No
Ahepa Buffalo Housing Development Inc (ahepa 67 Ii)	Cheektowaga, NY	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa Dop 54 Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa Dop 54 Phase Ii Inc	Houston, TX	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa Dop 60 Inc	Mishawaka, IN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa National Housing Corporation	Fishers, IN	Sponsoring and Granting Various Hud Developments for Elderly/handicapped	501(c)(3)	Line 10	No
Ahepa One Inc	Decatur, GA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa-penelope 120 Inc	Peabody, MA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa-penelope 35 Ii Inc	Bloomington, MN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa-penelope 35 Inc	Bloomington, MN	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa-penelope 38 Apartments Inc	Ankeny, IA	Affordable Low-income Housing	501(c)(3)	Line 10	No
Ahepa-penelope District One Apartments of Hoover Inc	Hoover, AL	Affordable Low-income Housing	501(c)(3)	Line 10	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
Ahepa 310 Apartments Lllp	Mobile, AL	Affordable Low-income Housing	-	-	-	No
Ahepa 63 Apartments Ltd	Tallmadge, OH	Affordable Low-income Housing	-	-	-	No
Hellenic Senior Living of Indianapolis LLC	Fishers, IN	Affordable Low-income Housing	-	-	-	No
Hellenic Senior Living of New Albany LLC	Fishers, IN	Affordable Low-income Housing	-	-	-	No
Omega Senior Housing Limited Dividend Housing Association Lp	Harrison Township, MI	Affordable Low-income Housing	-	-	-	No

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Tenant Security Deposits	$16,697

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 B, Line 11B

“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

Filer Name: Ahepa 232 Phase Ii Inc
EIN: 35-1635762
Phone: 3178453410
Address: 7355 SHADELAND STATION WAY, INDIANAPOLIS, IN 46256

Signing Officer

Name: Angelo Kostarides
Title: President
Phone: 3178453410
Signed: 2019-05-12
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Angelo Kostarides
Formed: 1989
Legal Domicile: In
Voting Board Members: 8
Independent Board Members: 8
Employees: 0
Volunteers: 0

Preparer

Firm: DAUBY O'CONNOR & ZALESKI LLC
Address: 501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer: Jonathan B Scott
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/MissionDesc	0	AHEPA 232 PHASE II, 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 50-UNIT APARTMENT COMMUNITY IN INDIANAPOLIS, INDIANA, KNOWN AS AHEPA 232 PHASE II 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc	0	SCHEDULE A, PART III, LINE 12:
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	82246
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IRS990ScheduleD/FootnoteTextInd	0	X
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt	1	444676
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt	2	19752
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	0	ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc	1	RESERVE FOR REPLACEMENTS FUND
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt	0	0
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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.
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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	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	3	THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	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	5	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 B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd	0	0
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	0
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IRS990ScheduleR/DivRelatedOrganizationInd	0	0
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	0	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	1	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	2	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	3	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	4	0
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt	0	AHEPA 310 INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt	1	AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt	2	AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt	3	AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt	4	AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	0	300781299
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	1	471852631
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	2	471543724
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	3	811289201
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN	4	811301171
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	0	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	1	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	2	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	3	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt	4	C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	0	AL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	1	IN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	2	IN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd	3	IN

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $2,154,477
Liabilities: $2,590,314
Net assets: -$435,837
Revenue: $447,716
Expenses: $473,706
Net income: -$25,990

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$1.72	$2.24	$0.52	$0.59	$0.60	$0.01
2023Detailed filing. Detailed filing data is available for this year.	$1.76	$2.27	$0.51	$0.56	$0.58	$0.02
2022Detailed filing. Detailed filing data is available for this year.	$1.82	$2.31	$0.49	$0.55	$0.54	$0.01
2021Detailed filing. Detailed filing data is available for this year.	$1.85	$2.35	$0.50	$0.53	$0.57	$0.04
2020Detailed filing. Detailed filing data is available for this year.	$2.03	$2.49	$0.46	$0.53	$0.54	$0.01
2019Detailed filing. Detailed filing data is available for this year.	$2.10	$2.55	$0.44	$0.51	$0.52	$0.01
2018Detailed filing. Detailed filing data is available for this year.	$2.15	$2.59	$0.44	$0.45	$0.47	$0.03
2017Detailed filing. Detailed filing data is available for this year.	$2.25	$2.66	$0.41	$0.50	$0.50	$0.00
2016Detailed filing. Detailed filing data is available for this year.	$2.52	$2.93	$0.41	$0.54	$0.47	$0.07
2015Detailed filing. Detailed filing data is available for this year.	$0.73	$1.22	$0.49	$0.48	$0.46	$0.02
2014Detailed filing. Detailed filing data is available for this year.	$0.78	$1.29	$0.50	$0.48	$0.46	$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.78	$1.29	$0.51		$0.44
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.80	$1.35	$0.55		$0.45