Stratton Homes Inc.

“Expenses office expense 1,399 fidelity bond insurance 473 supplies 601 miscellaneous admin exp 7,475 other taxes/insurance exp 562 loss due to recap of res 250 non-investment depreciation 17,884 total 28,644”

“Prior period adjustment 0”

“Accounts receivable 166 4,103 prepaid expenses and deferred charges 812 320 replacement reserve 23,501 41,877 escrow deposits 13,547 16,901 tenant deposits held in trust 1,747 1,747 residual receipts reserve 2,249 2,250 restricted invest replacement res 0 0 total 42,022 67,198”

“Accounts payable and accrued expenses 3,072 10,055 tenant security deposits 1,747 1,747 advances from project owner 27,395 27,395”

“Stratton homes, inc. Operates two residential group houses located in lugoff, south carolina for persons with intellectual and developmental disabilities. The organization constructed the homes using financing provided by section 811 of the cranston-gonzales national affordable housing act that provides capital advances to nonprofit owners of housing occupied by disabled persons between the ages of 18 and 62.”

“The executive director is paid a salary through the related organization, kershaw county dsnb. The hud project is not billed for this salary, therefore, it is not reported on form 990ez.”