Civic Intelligence

New Prospects Housing Corporation

EIN 54-2116300 • 501(c)3 • Greenville, SC

Profile

New prospects housing corporation is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of south carolina. The corporation was formed for the purpose of operating a 12 unit community known as new prospects located in anderson, south carolina, which provides housing for persons with disabilities. The corporation receives housing assistance from the u.s. Department of housing and urban development pursuant to section 811 of the national housing act, as amended.

325 Rocky Slope Road 301Greenville, SC 29607

n/A

Siviq Scores

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

Liabilities / Assets

70th percentile

0.12x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

90th percentile

0.73x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Net Margin

26th percentile

-8.1%

Higher net margin than 26% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2025

Asset Growth

45th percentile

1.3%

Faster asset growth than 45% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

37th percentile

-1.2%

Faster revenue growth than 37% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Assets

Up

$772,622

Up $9,594 (+1.3%) from 2024

Liabilities

Up

$95,540

Up $20,199 (+27%) from 2024

Net Assets

Down

$677,082

Down $10,605 (-1.5%) from 2024

Revenue

Down

$130,651

Down $1,630 (-1.2%) from 2024

Expenses

Up

$141,256

Up $22,644 (+19%) from 2024

Net Income

Down

-$10,605

Down $24,274 (-178%) from 2024

Trend Graphs

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $729,396Liabilities 2011: $85,741Net Assets 2011: $643,6552011Assets 2012: $713,065Liabilities 2012: $96,492Net Assets 2012: $616,5732012Assets 2013: $695,661Liabilities 2013: $95,024Net Assets 2013: $600,6372013Assets 2014: $682,305Liabilities 2014: $102,443Net Assets 2014: $579,8622014Assets 2015: $680,779Liabilities 2015: $124,979Net Assets 2015: $555,8002015Assets 2016: $650,924Liabilities 2016: $122,872Net Assets 2016: $528,0522016Assets 2017: $632,007Liabilities 2017: $107,204Net Assets 2017: $524,8032017Assets 2018: $603,486Liabilities 2018: $113,385Net Assets 2018: $490,1012018Assets 2019: $601,201Liabilities 2019: $110,685Net Assets 2019: $490,5162019Assets 2020: $602,965Liabilities 2020: $104,811Net Assets 2020: $498,1542020Assets 2021: $637,339Liabilities 2021: $103,911Net Assets 2021: $533,4282021Assets 2022: $705,995Liabilities 2022: $79,694Net Assets 2022: $626,3012022Assets 2023: $752,922Liabilities 2023: $78,904Net Assets 2023: $674,0182023Assets 2024: $763,028Liabilities 2024: $75,341Net Assets 2024: $687,6872024Assets 2025: $772,622Liabilities 2025: $95,540Net Assets 2025: $677,0822025

Highlighted filing

2025

Assets$772,622
Liabilities$95,540
Net Assets$677,082

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $60,744Expenses 2011: $97,150Net Income 2011: -$36,4062011Revenue 2012: $74,108Expenses 2012: $101,190Net Income 2012: -$27,0822012Revenue 2013: $82,259Expenses 2013: $98,195Net Income 2013: -$15,9362013Revenue 2014: $80,120Expenses 2014: $100,895Net Income 2014: -$20,7752014Revenue 2015: $277,191Expenses 2015: $301,253Net Income 2015: -$24,0622015Revenue 2016: $79,357Expenses 2016: $107,105Net Income 2016: -$27,7482016Revenue 2017: $86,875Expenses 2017: $90,124Net Income 2017: -$3,2492017Revenue 2018: $84,172Expenses 2018: $118,874Net Income 2018: -$34,7022018Revenue 2019: $103,501Expenses 2019: $103,086Net Income 2019: $4152019Revenue 2020: $119,928Expenses 2020: $112,290Net Income 2020: $7,6382020Revenue 2021: $138,144Expenses 2021: $102,870Net Income 2021: $35,2742021Revenue 2022: $204,976Expenses 2022: $112,103Net Income 2022: $92,8732022Revenue 2023: $177,463Expenses 2023: $129,746Net Income 2023: $47,7172023Revenue 2024: $132,281Expenses 2024: $118,612Net Income 2024: $13,6692024Revenue 2025: $130,651Expenses 2025: $141,256Net Income 2025: -$10,6052025

Highlighted filing

2025

Revenue$130,651
Expenses$141,256
Net Income-$10,605

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.73$0.96$6.77$1.31$1.41$0.11
2024Detailed filing. Detailed filing data is available for this year.$7.63$0.75$6.88$1.32$1.19$0.14
2023Detailed filing. Detailed filing data is available for this year.$7.53$0.79$6.74$1.77$1.30$0.48
2022Detailed filing. Detailed filing data is available for this year.$7.06$0.80$6.26$2.05$1.12$0.93
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.37$1.04$5.33$1.38$1.03$0.35
2020Detailed filing. Detailed filing data is available for this year.$6.03$1.05$4.98$1.20$1.12$0.08
2019Detailed filing. Detailed filing data is available for this year.$6.01$1.11$4.91$1.04$1.03$0.00
2018Detailed filing. Detailed filing data is available for this year.$6.03$1.13$4.90$0.84$1.19$0.35
2017Detailed filing. Detailed filing data is available for this year.$6.32$1.07$5.25$0.87$0.90$0.03
2016Summary only. Only limited summary data is available for this year.$6.51$1.23$5.28$0.79$1.07$0.28
2015Summary only. Only limited summary data is available for this year.$6.81$1.25$5.56$2.77$3.01$0.24
2014Summary only. Only limited summary data is available for this year.$6.82$1.02$5.80$0.80$1.01$0.21
2013Summary only. Only limited summary data is available for this year.$6.96$0.95$6.01$0.82$0.98$0.16
2012Summary only. Only limited summary data is available for this year.$7.13$0.96$6.17$0.74$1.01$0.27
2011Summary only. Only limited summary data is available for this year.$7.29$0.86$6.44$0.61$0.97$0.36
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Dec 15, 2025
Return Version
2024v5.2
Gross Receipts
$130,651
Mission and Program Overview

Mission

New prospects housing corporation is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of south carolina. The corporation was formed for the purpose of operating a 12 unit community known as new prospects located in anderson, south carolina, which provides housing for persons with disabilities. The corporation receives housing assistance from the u.s. Department of housing and urban development pursuant to section 811 of the national housing act, as amended.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$626,244$621,346▼ $4,898
Investments Program Related$126,107$143,138▲ $17,031
Cash and Non-Interest-Bearing Accounts$7,033$2,708▼ $4,325
Prepaid Expenses and Deferred Charges$14$1,709▲ $1,695
Accounts Receivable$564$990▲ $426
Total Assets$763,028$772,622▲ $9,594
Other Assets Total$3,066$2,731▼ $335
Liabilities
Accounts Payable and Accrued Expenses$5,078$92,795▲ $87,717
Other Liabilities$70,263$2,731▼ $67,532
Deferred Revenue-$14-
Total Liabilities$75,341$95,540▲ $20,199
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$687,687$677,082▼ $10,605
Total Net Assets Fund Balance$687,687$677,082▼ $10,605
Total Liabilities and Net Assets / Fund Balance$763,028$772,622▲ $9,594

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$533,616$316,701$850,317
Land$69,288-$69,288
Other Land Buildings$18,442$33,576$52,018
Investment Program Related Org$128,408--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brian ThomasBoard Chair
Candace TimmermanPresident
Denise FranklinVice Chair
Alyson RaineyDirector
Britt GillespieDirector
Gary StancellDirector
Irene Hamilton-jonesDirector
Jack ReadDirector
Jessica SalviniDirector
Julia MullenDirector
LESLEE O'KELLYDirector
MARK O'ROURKEDirector
Naomi RusktikovaDirector
Jervelle FortSecretary
Jim BoydTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$80,456
Program Service Revenue
$47,366
Investment Income
$2,579
Other Revenue
$250
Change in Net Assets
$-10,605

Audited Revenue Reconciliation

Revenue per Audited Statements
$130,651
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$130,651
Total Revenue per Form 990
$130,651
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$141,256
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
Occupancy$76,575--$76,575
Depreciation Depletion$23,463--$23,463
Fees for Services Management-$8,622-$8,622
Office Expenses-$4,770-$4,770
Fees for Services Accounting-$4,500-$4,500
Travel-$1,012-$1,012
Insurance$1,010--$1,010
Other Expenses$5,456$959-$959
Total Functional Expenses$106,504$34,752$0$141,256

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$141,256
Total Expenses per Audited Statements$141,256
Total Expenses per Form 990$141,256
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$2,731
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 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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization has entered into a management agreement with a management agent for day-to-day management of the apartment community as is customary for owners/operators of hud-assisted rental communities. 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

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

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

The return is prepared by a cpa firm and sent to the management agent for initial review and approval. The management agent then sends the return to the board of directors for final review, approval, and signature.

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

Officers, employees and board members are required annually to disclose all conflicts of interest.

Form 990, Part VI, Section B, Line 15

The board uses information based on other not-for-profit industry groups and a performance management process to assess, grade the performance of officers and to set pay grades and raises. The executive director uses information based on other not-for-profit industry groups and a performance management process to assess, grade the performance of key employees and to set pay grades and ranges.

Form 990, Part VI, Section C, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
New Prospects Housing Corporation
EIN
54-2116300
Phone
8035361056
Address
325 ROCKY SLOPE ROAD 301, GREENVILLE, SC 29607
Doing Business As
New Prospects

Signing Officer

Name
Candace Timmerman
Title
CEO
Phone
8035361056
Signed
2025-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Candace Timmerman
Formed
2004
Legal Domicile
Sc
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Jessica Cooper
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 are subject to examination for three years after the later of the original or extended due date or the date filed with the applicable tax authority.

Raw XML AppendixShowing 400 of 614 raw XML fields

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

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02004
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GovernmentGrantsAmt080456
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0130651
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0NEW PROSPECTS HOUSING CORPORATION IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF SOUTH CAROLINA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 12 UNIT COMMUNITY KNOWN AS NEW PROSPECTS LOCATED IN ANDERSON, SOUTH CAROLINA, WHICH PROVIDES HOUSING FOR PERSONS WITH DISABILITIES. THE CORPORATION RECEIVES HOUSING ASSISTANCE FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MANAGEMENT COMPANY EMPL
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0CANDACE TIMMERMAN
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt013669
IRS990/PYSalariesCompEmpBnftPaidAmt00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0132281
IRS990/QuidProQuoContributionsInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12:
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt085215
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt079188
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt070368
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt095668
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0410895
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt02579
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt03156
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0756
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt051
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt034
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt06576
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt047366
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt043910
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt055844
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt047177
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt035743
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0230040
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02579
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03156
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0756
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt051
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt034
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06576
IRS990ScheduleA/InvestmentIncomeCYPct00.00840
IRS990ScheduleA/InvestmentIncomePYPct00.00520
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0250
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt041675
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt087380
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt06699
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0136004
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.81800
IRS990ScheduleA/PublicSupportPY509Pct00.81900
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0127822
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0129125
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0135032
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0117545
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0131411
IRS990ScheduleA/Total509Grp/TotalAmt0640935
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0130651
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0132281
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0177463
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0204976
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0138144
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0783515
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0533616
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0316701
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0850317
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0141256
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt014730
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1128408
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt069288
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt069288
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt018442
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033576
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt052018
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02731
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0130651
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 ARE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0621346
IRS990ScheduleD/TotalBookValueProgramRltdAmt0143138
IRS990ScheduleD/TotalExpensesPerForm990Amt0141256
IRS990ScheduleD/TotalLiabilityAmt02731
IRS990ScheduleD/TotalRevenuePerForm990Amt0130651
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0130651
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0141256
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ENTERED INTO A MANAGEMENT AGREEMENT WITH A MANAGEMENT AGENT FOR DAY-TO-DAY MANAGEMENT OF THE APARTMENT COMMUNITY AS IS CUSTOMARY FOR OWNERS/OPERATORS OF HUD-ASSISTED RENTAL COMMUNITIES. 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/ExplanationTxt1THE DIRECTORS OF THE CORPORATION SHALL, AT ALL TIMES, BE LIMITED TO INDIVIDUALS WHO ARE EITHER MEMBERS OF THE BOARD OF DIRECTORS OF UNITED HOUSING CONNECTIONS OR NONMEMBERS WHO HAVE THE APPROVAL OF THE BOARD OF DIRECTORS OF THE SAID SPONSORING ORGANIZATION. IN THE EVENT THAT A DIRECTOR OF THE CORPORATION CEASES TO BE A MEMBER OF THE BOARD OF DIRECTORS OF UNITED HOUSING CONNECTIONS, OR IF THE AFORESAID APPROVAL IS WITHDRAWN, THEN, IN EITHER EVENT, SUCH SHALL CONSTITUTE AUTOMATIC RESIGNATION AS A DIRECTOR OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN IS PREPARED BY A CPA FIRM AND SENT TO THE MANAGEMENT AGENT FOR INITIAL REVIEW AND APPROVAL. THE MANAGEMENT AGENT THEN SENDS THE RETURN TO THE BOARD OF DIRECTORS FOR FINAL REVIEW, APPROVAL, AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS, EMPLOYEES AND BOARD MEMBERS ARE REQUIRED ANNUALLY TO DISCLOSE ALL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD USES INFORMATION BASED ON OTHER NOT-FOR-PROFIT INDUSTRY GROUPS AND A PERFORMANCE MANAGEMENT PROCESS TO ASSESS, GRADE THE PERFORMANCE OF OFFICERS AND TO SET PAY GRADES AND RAISES. THE EXECUTIVE DIRECTOR USES INFORMATION BASED ON OTHER NOT-FOR-PROFIT INDUSTRY GROUPS AND A PERFORMANCE MANAGEMENT PROCESS TO ASSESS, GRADE THE PERFORMANCE OF KEY EMPLOYEES AND TO SET PAY GRADES AND RANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A

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