Civic Intelligence

Beth-Anne Residences

990 • Fiscal year 2018 • EIN 36-3999938

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

1140 N Lamon AveChicago, IL 60651

(773) 473-7870

Siviq Scores

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

Liabilities / Assets

97th percentile

1.51x

Higher debt load relative to assets than 97% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

7.73x

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

13th percentile

-19%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$125,411

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

31st percentile

-2.5%

Faster asset growth than 31% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

36th percentile

-0.6%

Faster revenue growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$7,002,067

Down $180,414 (-2.5%) from 2017

Net Assets

Down

-$3,605,836

Down $255,129 (-7.6%) from 2017

Liabilities

Up

$10,607,903

Up $74,715 (+0.7%) from 2017

Revenue

Down

$1,372,098

Down $8,321 (-0.6%) from 2017

Expenses

Up

$1,627,227

Up $84,462 (+5.5%) from 2017

Net Income

Down

-$255,129

Down $92,783 (-57%) from 2017

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0M-$10MAssets 2013: $7,887,185Liabilities 2013: $10,547,803Net Assets 2013: -$2,660,6182013Assets 2014: $7,665,659Liabilities 2014: $10,509,570Net Assets 2014: -$2,843,9112014Assets 2015: $7,492,387Liabilities 2015: $10,504,256Net Assets 2015: -$3,011,8692015Assets 2016: $7,289,236Liabilities 2016: $10,477,597Net Assets 2016: -$3,188,3612016Assets 2017: $7,182,481Liabilities 2017: $10,533,188Net Assets 2017: -$3,350,7072017Assets 2018: $7,002,067Liabilities 2018: $10,607,903Net Assets 2018: -$3,605,8362018Assets 2019: $6,658,430Liabilities 2019: $10,510,202Net Assets 2019: -$3,851,7722019Assets 2021: $6,204,064Liabilities 2021: $10,517,999Net Assets 2021: -$4,313,9352021Assets 2022: $5,975,593Liabilities 2022: $10,551,769Net Assets 2022: -$4,576,1762022Assets 2023: $5,655,168Liabilities 2023: $10,526,334Net Assets 2023: -$4,871,1662023Assets 2024: $5,465,460Liabilities 2024: $10,561,718Net Assets 2024: -$5,096,2582024Assets 2025: $5,187,321Liabilities 2025: $10,646,409Net Assets 2025: -$5,459,0882025

Highlighted filing

2018

Assets$7,002,067
Liabilities$10,607,903
Net Assets-$3,605,836

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2013: $1,559,0762013Revenue 2014: $1,393,606Expenses 2014: $1,576,899Net Income 2014: -$183,2932014Revenue 2015: $1,373,189Expenses 2015: $1,541,147Net Income 2015: -$167,9582015Revenue 2016: $1,442,551Expenses 2016: $1,619,043Net Income 2016: -$176,4922016Revenue 2017: $1,380,419Expenses 2017: $1,542,765Net Income 2017: -$162,3462017Revenue 2018: $1,372,098Expenses 2018: $1,627,227Net Income 2018: -$255,1292018Revenue 2019: $1,382,351Expenses 2019: $1,628,287Net Income 2019: -$245,9362019Revenue 2021: $1,523,704Expenses 2021: $1,673,240Net Income 2021: -$149,5362021Revenue 2022: $1,595,352Expenses 2022: $1,857,593Net Income 2022: -$262,2412022Revenue 2023: $1,587,211Expenses 2023: $1,882,201Net Income 2023: -$294,9902023Revenue 2024: $1,646,526Expenses 2024: $1,871,618Net Income 2024: -$225,0922024Revenue 2025: $1,607,074Expenses 2025: $1,969,904Net Income 2025: -$362,8302025

Highlighted filing

2018

Revenue$1,372,098
Expenses$1,627,227
Net Income-$255,129
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$1,372,098
Mission and Program Overview

Mission

The organization owns and operates a 125 unit residential rental facility for the elderly and disabled individuals pursuant to section 202 of the national housing act.

The organization's mission is to provide housing for the low income elderly and disabled individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,400,082$6,226,779▼ $173,303
Prepaid Expenses and Deferred Charges$47,453$43,845▼ $3,608
Cash and Non-Interest-Bearing Accounts$84,420$33,038▼ $51,382
Other Notes and Loans Receivable, Net$4,292$0▼ $4,292
Accounts Receivable$4,606$3,551▼ $1,055
Total Assets$7,182,481$7,002,067▼ $180,414
Other Assets Total$641,628$694,854▲ $53,226
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,371,000$10,371,000→ $0
Accounts Payable and Accrued Expenses$129,720$200,089▲ $70,369
Other Liabilities$31,737$35,214▲ $3,477
Deferred Revenue$731$1,600▲ $869
Total Liabilities$10,533,188$10,607,903▲ $74,715
Net Assets / Fund Balance
Unrestricted Net Assets$-3,350,707$-3,605,836▼ $255,129
Total Net Assets Fund Balance$-3,350,707$-3,605,836▼ $255,129
Total Liabilities and Net Assets / Fund Balance$7,182,481$7,002,067▼ $180,414

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,712,331$4,871,606$10,583,937
Leasehold Improvements$282,493$428,494$710,987
Other Land Buildings$228,908$201,461$430,369
Equipment$3,047$122,962$126,009
Other Assets Org$25,341--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Edward ColemanExecutive Director$125,411$125,411
Saul CyvasSecretary/director$125,000$125,000

Board Members and Trustees

NameTitle
Geoffrey KossChairman
John Jay YoungVice Chairman
Abbey HelmetagDirector
Jay WeaverDirector
Kevin MasseyDirector
Sherman HicksDirector
Valora StarrDirector
Terra FullerSecretary
Andrew CurtisTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Shield Security Services-321 NORTH CICERO, Chicago, IL 60644$137,244
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,370,616
Investment Income
$1,482
Other Revenue
$0
Change in Net Assets
$-255,129

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,372,098
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,372,098
Total Revenue per Form 990
$1,372,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,159,960
Salaries, Compensation, and Employee Benefits$467,267
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$270,536$121,803-$392,339
Depreciation Depletion$369,890--$369,890
Occupancy$187,103--$187,103
Fees for Services Management$78,046--$78,046
Payroll Taxes$74,928--$74,928
Insurance$55,982--$55,982
All Other Expenses$19,092$885-$19,977
Fees for Services Accounting-$15,000-$15,000
Other Expenses$4,063$3,331-$3,331
Fees for Services Legal-$2,550-$2,550
Advertising-$250-$250
Total Functional Expenses$1,421,839$205,388$0$1,627,227

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,627,227
Total Expenses per Audited Statements$1,627,227
Total Expenses per Form 990$1,627,227
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 Deposits$35,214
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The corporation has contracted with a management agent, evergreen real estate services, llc, pursuant to a management agreement approved by hud. Under the management agreement, for the years ended june 30, 2018 and 2017, management fees were $78,046 and $78,162, respectively, based on approximately 5.68 percent of monthly rental collections capped at $55 per unit per month for 2018 and 2017. As of june 30, 2018 and 2017, property management fees payable were $7,914 and $7,651, respectively.

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

The board retains the services of an independent cpa firm to prepare the organization's form 990. The form 990 is reviewed by the finance committee before it is filed. The finance committee serves as audit committee and has been designated authority to approve audits and tax returns. The board treasurer or chair signs the form. Copies will then be provided to all members of the board.

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

Annually, the organization monitors and enforces its policies through the board term renewal process at the first meeting of each fiscal year.

Form 990, Part VI, Section B, Line 15

Compensation review procedures are performed by a related organization, bethel new life, inc. (36-3013241). The ceo's compensation is determined by the board of directors. The activity for determining compensation is led by the executive committee of the board. The compensation of other officers are determined by the president & ceo who are vested with the authority to determine such salaries. Typically, the salaries reflect the ranges portrayed in compensation studies and disclosed in the annual budget approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The organization makes all documents available at its business address during normal business hours.

Part VII - Section A - Compensation Disclosures

The compensation from a related organization, bethel new life, inc. Reported in part vii for edward coleman and saul cyvas, is the compensation paid by bethel new life, inc. For their full time positions. Beth-anne residences does not pay for any of the salary or benefits for these individuals.

Filing and Contact Details

Filer

Filer Name
Beth-anne Residences
EIN
36-3999938
Phone
7734737870
Address
1140 N LAMON AVE, CHICAGO, IL 60651

Signing Officer

Name
Edward Coleman
Title
Chief Executive Officer
Phone
7734737870
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Coleman
Formed
1998
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Plante & Moran Pllc
Address
10 S RIVERSIDE PLAZA 9TH FLOOR, CHICAGO, IL 60606
Preparer
Lu Ann Trapp
Phone
3122071040
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the corporation and recognize a tax liability if the corporation has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or other applicable taxing authorities. Management has analyzed the tax positions taken by the corporation and has concluded that, as of june 30, 2018 and 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.

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IRS990/LandBldgEquipBasisNetGrp/EOYAmt06226779
IRS990/LandBldgEquipCostOrOtherBssAmt011851302
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION OWNS AND OPERATES A 125 UNIT RESIDENTIAL RENTAL FACILITY FOR THE ELDERLY AND DISABLED INDIVIDUALS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt010371000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt010371000
IRS990/NetAssetsOrFundBalancesBOYAmt0-3350707
IRS990/NetAssetsOrFundBalancesEOYAmt0-3605836
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0187103
IRS990/OccupancyGrp/TotalAmt0187103
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0641628
IRS990/OtherAssetsTotalGrp/EOYAmt0694854
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0PROFESSIONAL CONTRACTS
IRS990/OtherExpensesGrp/Desc1MAINTENANCE & REPAIRS
IRS990/OtherExpensesGrp/Desc2PROGRAM SUPPLIES
IRS990/OtherExpensesGrp/Desc3BAD DEBT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt014640
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt146929
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23331
IRS990/OtherExpensesGrp/ProgramServicesAmt0255874
IRS990/OtherExpensesGrp/ProgramServicesAmt1106325
IRS990/OtherExpensesGrp/ProgramServicesAmt24063
IRS990/OtherExpensesGrp/TotalAmt0270514
IRS990/OtherExpensesGrp/TotalAmt1106325
IRS990/OtherExpensesGrp/TotalAmt250992
IRS990/OtherExpensesGrp/TotalAmt33331
IRS990/OtherLiabilitiesGrp/BOYAmt031737
IRS990/OtherLiabilitiesGrp/EOYAmt035214
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0121803
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0270536
IRS990/OtherSalariesAndWagesGrp/TotalAmt0392339
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04292
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt074928
IRS990/PayrollTaxesGrp/TotalAmt074928
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt047453
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt043845
IRS990/PrincipalOfficerNm0EDWARD COLEMAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE - TENAN
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3LAUNDRY & VENDING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0912269
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1451678
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26398
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3271
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0912269
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1451678
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26398
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3271
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0209
IRS990/PYOtherExpensesAmt01233967
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01380210
IRS990/PYRevenuesLessExpensesAmt0-162346
IRS990/PYSalariesCompEmpBnftPaidAmt0308798
IRS990/PYTotalExpensesAmt01542765
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01380419
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-255129
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01370616
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01482
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0209
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt096
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt045
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01884
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01370616
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01380210
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01442455
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01373137
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01393561
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt06959979
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01482
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0209
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt096
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt045
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01884
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt06959979
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01370616
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01380210
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01442455
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01373137
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01393561
IRS990ScheduleA/Total509Grp/TotalAmt06959979
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01372098
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01380419
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01442551
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01373189
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01393606
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06961863
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05712331
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04871606
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010583937
IRS990ScheduleD/EquipmentGrp/BookValueAmt03047
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0122962
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0126009
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01627227
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0282493
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0428494
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0710987
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt035286
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1634227
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt225341
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0228908
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0201461
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0430369
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt035214
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01372098
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2018 AND 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06226779
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0694854
IRS990ScheduleD/TotalExpensesPerForm990Amt01627227
IRS990ScheduleD/TotalLiabilityAmt035214
IRS990ScheduleD/TotalRevenuePerForm990Amt01372098
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01372098
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01627227
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS CONTRACTED WITH A MANAGEMENT AGENT, EVERGREEN REAL ESTATE SERVICES, LLC, PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. UNDER THE MANAGEMENT AGREEMENT, FOR THE YEARS ENDED JUNE 30, 2018 AND 2017, MANAGEMENT FEES WERE $78,046 AND $78,162, RESPECTIVELY, BASED ON APPROXIMATELY 5.68 PERCENT OF MONTHLY RENTAL COLLECTIONS CAPPED AT $55 PER UNIT PER MONTH FOR 2018 AND 2017. AS OF JUNE 30, 2018 AND 2017, PROPERTY MANAGEMENT FEES PAYABLE WERE $7,914 AND $7,651, RESPECTIVELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE BEFORE IT IS FILED. THE FINANCE COMMITTEE SERVES AS AUDIT COMMITTEE AND HAS BEEN DESIGNATED AUTHORITY TO APPROVE AUDITS AND TAX RETURNS. THE BOARD TREASURER OR CHAIR SIGNS THE FORM. COPIES WILL THEN BE PROVIDED TO ALL MEMBERS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, THE ORGANIZATION MONITORS AND ENFORCES ITS POLICIES THROUGH THE BOARD TERM RENEWAL PROCESS AT THE FIRST MEETING OF EACH FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION REVIEW PROCEDURES ARE PERFORMED BY A RELATED ORGANIZATION, BETHEL NEW LIFE, INC. (36-3013241). THE CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE ACTIVITY FOR DETERMINING COMPENSATION IS LED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE COMPENSATION OF OTHER OFFICERS ARE DETERMINED BY THE PRESIDENT & CEO WHO ARE VESTED WITH THE AUTHORITY TO DETERMINE SUCH SALARIES. TYPICALLY, THE SALARIES REFLECT THE RANGES PORTRAYED IN COMPENSATION STUDIES AND DISCLOSED IN THE ANNUAL BUDGET APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ALL DOCUMENTS AVAILABLE AT ITS BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE COMPENSATION FROM A RELATED ORGANIZATION, BETHEL NEW LIFE, INC. REPORTED IN PART VII FOR EDWARD COLEMAN AND SAUL CYVAS, IS THE COMPENSATION PAID BY BETHEL NEW LIFE, INC. FOR THEIR FULL TIME POSITIONS. BETH-ANNE RESIDENCES DOES NOT PAY FOR ANY OF THE SALARY OR BENEFITS FOR THESE INDIVIDUALS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19

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