Civic Intelligence

Ahepa 489 Apartments Inc.

990 • Fiscal year 2022 • EIN 59-3760329

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 12, 2023

6625 Rowan RoadNew Port Richey, FL 34653

(727) 843-0636

Siviq Scores

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

Liabilities / Assets

58th percentile

0.11x

Higher debt load relative to assets than 58% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

81st percentile

0.53x

Higher debt load relative to revenue than 81% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

15th percentile

-20%

Higher net margin than 15% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

30th percentile

-5.0%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

46th percentile

3.4%

Faster revenue growth than 46% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Flat

$2,304,029

Flat from 2022

Net Assets

Flat

$2,058,548

Flat from 2022

Liabilities

Flat

$245,481

Flat from 2022

Revenue

Flat

$465,816

Flat from 2022

Expenses

Flat

$557,951

Flat from 2022

Net Income

Flat

-$92,135

Flat from 2022

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2010: $3,036,706Liabilities 2010: $3,630,290Net Assets 2010: -$593,5842010Assets 2011: $3,027,163Liabilities 2011: $3,665,867Net Assets 2011: -$638,7042011Assets 2012: $2,967,913Liabilities 2012: $3,683,068Net Assets 2012: -$715,1552012Assets 2013: $2,899,992Liabilities 2013: $3,678,883Net Assets 2013: -$778,8912013Assets 2014: $2,836,433Liabilities 2014: $3,694,071Net Assets 2014: -$857,6382014Assets 2015: $2,815,126Liabilities 2015: $3,674,144Net Assets 2015: -$859,0182015Assets 2016: $2,774,911Liabilities 2016: $3,668,878Net Assets 2016: -$893,9672016Assets 2017: $2,737,513Liabilities 2017: $3,673,520Net Assets 2017: -$936,0072017Assets 2018: $2,670,957Liabilities 2018: $3,678,008Net Assets 2018: -$1,007,0512018Assets 2019: $2,603,650Liabilities 2019: $3,673,535Net Assets 2019: -$1,069,8852019Assets 2020: $2,537,539Liabilities 2020: $3,672,977Net Assets 2020: -$1,135,4382020Assets 2021: $2,424,026Liabilities 2021: $273,343Net Assets 2021: $2,150,6832021Assets 2022: $2,304,029Liabilities 2022: $245,481Net Assets 2022: $2,058,5482022Assets 2022: $2,304,029Liabilities 2022: $245,481Net Assets 2022: $2,058,5482022Assets 2023: $2,219,875Liabilities 2023: $215,192Net Assets 2023: $2,004,6832023Assets 2025: $2,155,404Liabilities 2025: $195,643Net Assets 2025: $1,959,7612025

Highlighted filing

2022

Assets$2,304,029
Liabilities$245,481
Net Assets$2,058,548

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $368,4692010Expenses 2011: $365,7062011Expenses 2012: $381,3392012Revenue 2013: $327,803Expenses 2013: $391,539Net Income 2013: -$63,7362013Revenue 2014: $358,301Expenses 2014: $437,048Net Income 2014: -$78,7472014Revenue 2015: $379,960Expenses 2015: $381,340Net Income 2015: -$1,3802015Revenue 2016: $405,155Expenses 2016: $440,104Net Income 2016: -$34,9492016Revenue 2017: $404,802Expenses 2017: $446,842Net Income 2017: -$42,0402017Revenue 2018: $404,033Expenses 2018: $475,077Net Income 2018: -$71,0442018Revenue 2019: $413,861Expenses 2019: $476,695Net Income 2019: -$62,8342019Revenue 2020: $437,551Expenses 2020: $503,104Net Income 2020: -$65,5532020Revenue 2021: $450,328Expenses 2021: $507,135Net Income 2021: -$56,8072021Revenue 2022: $465,816Expenses 2022: $557,951Net Income 2022: -$92,1352022Revenue 2022: $465,816Expenses 2022: $557,951Net Income 2022: -$92,1352022Revenue 2023: $489,065Expenses 2023: $542,930Net Income 2023: -$53,8652023Revenue 2025: $623,440Expenses 2025: $608,559Net Income 2025: $14,8812025

Highlighted filing

2022

Revenue$465,816
Expenses$557,951
Net Income-$92,135
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 12, 2023
Return Version
2021v4.2
Gross Receipts
$465,816
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,206,635$2,083,644▼ $122,991
Cash and Non-Interest-Bearing Accounts$8,971$39,267▲ $30,296
Prepaid Expenses and Deferred Charges$20,348--
Accounts Receivable$1,549$11,839▲ $10,290
Total Assets$2,424,026$2,304,029▼ $119,997
Other Assets Total$186,523$169,279▼ $17,244
Liabilities
Unsecured Notes Loans Payable$158,199$158,199→ $0
Accounts Payable and Accrued Expenses$99,944$72,521▼ $27,423
Other Liabilities$14,918$13,564▼ $1,354
Deferred Revenue$282$1,197▲ $915
Total Liabilities$273,343$245,481▼ $27,862
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,150,683$2,058,548▼ $92,135
Total Net Assets Fund Balance$2,150,683$2,058,548▼ $92,135
Total Liabilities and Net Assets / Fund Balance$2,424,026$2,304,029▼ $119,997

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,752,591$1,507,546$3,260,137
Land$295,362-$295,362
Equipment$35,691$252,872$288,563
Other Assets Org$5,444--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Demetrios MakrisPresident
Argirios VasilopoulosVice President
Bill MakrisDirector
Dean MakrisDirector
JOE O'NEILDirector
Steve PhotiadesDirector
Yorgo MullenaxDirector
Anthony SaravanosSecretary
George PanagosTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$464,392
Investment Income
$14
Other Revenue
$1,410
Change in Net Assets
$-92,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$465,816
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$465,816
Total Revenue per Form 990
$465,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$557,951
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$122,991--$122,991
Occupancy$65,005--$65,005
Insurance$44,409--$44,409
Fees for Services Management-$29,376-$29,376
All Other Expenses$12,916--$12,916
Fees for Services Accounting-$10,450-$10,450
Information Technology$6,407--$6,407
Other Expenses$6,350--$6,350
Office Expenses$2,789--$2,789
Conferences and Meetings-$2,373-$2,373
Fees for Services Legal$61--$61
Interest$1--$1
Total Functional Expenses$515,752$42,199$0$557,951

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$557,951
Total Expenses per Audited Statements$557,951
Total Expenses per Form 990$557,951
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$13,564
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

Board members demetrios makris, dean makris, and bill makris have a family relationship

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 A, Line 8B

There are no committees with the authority to act on behalf of the board of directors.

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 489 Apartments Inc
EIN
59-3760329
Phone
7278430636
Address
6625 ROWAN ROAD, NEW PORT RICHEY, FL 34653

Signing Officer

Name
Demetrios Makris
Title
President
Phone
7278430636
Signed
2023-01-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Demetrios Makris
Formed
2001
Legal Domicile
Fl
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, 2022 and 2021. 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, 2022 and 2021.

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IRS990/OtherRevenueTotalAmt01410
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt020348
IRS990/PrincipalOfficerNm0DEMETRIOS MAKRIS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT ASSISTANCE HUD
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0299744
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1164648
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0299744
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1164648
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt060
IRS990/PYOtherExpensesAmt0507135
IRS990/PYOtherRevenueAmt02713
IRS990/PYProgramServiceRevenueAmt0447555
IRS990/PYRevenuesLessExpensesAmt0-56807
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0507135
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0450328
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-92135
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0464392
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt014
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt060
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0750
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01005
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt065
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01894
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0464392
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0447555
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0425639
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0411486
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0401998
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02151070
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt014
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt060
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0750
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01005
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt065
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01894
IRS990ScheduleA/InvestmentIncomeCYPct00.00090
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01410
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt02713
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt011162
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01370
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01970
IRS990ScheduleA/OtherIncome509Grp/TotalAmt018625
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99060
IRS990ScheduleA/PublicSupportPY509Pct00.99030
IRS990ScheduleA/PublicSupportTotal509Amt02151070
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0464392
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0447555
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0425639
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0411486
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0401998
IRS990ScheduleA/Total509Grp/TotalAmt02151070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0465816
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0450328
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0437551
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0413861
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0404033
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02171589
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01752591
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01507546
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03260137
IRS990ScheduleD/EquipmentGrp/BookValueAmt035691
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0252872
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0288563
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0557951
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0295362
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0295362
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0148797
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115038
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt25444
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ESCROW DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013564
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0465816
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, 2022 AND 2021. 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, 2022 AND 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02083644
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0169279
IRS990ScheduleD/TotalExpensesPerForm990Amt0557951
IRS990ScheduleD/TotalLiabilityAmt013564
IRS990ScheduleD/TotalRevenuePerForm990Amt0465816
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0465816
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0557951
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS DEMETRIOS MAKRIS, DEAN MAKRIS, AND BILL MAKRIS HAVE A FAMILY RELATIONSHIP
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/ExplanationTxt3THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 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/ExplanationTxt5THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL 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/ExplanationTxt7THE 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 A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART VII, SECTION A, LINE 1A, COLUMN B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02424026
IRS990/TotalAssetsEOYAmt02304029
IRS990/TotalAssetsGrp/BOYAmt02424026
IRS990/TotalAssetsGrp/EOYAmt02304029
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042199
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0515752
IRS990/TotalFunctionalExpensesGrp/TotalAmt0557951
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0273343
IRS990/TotalLiabilitiesEOYAmt0245481
IRS990/TotalLiabilitiesGrp/BOYAmt0273343
IRS990/TotalLiabilitiesGrp/EOYAmt0245481
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02150683
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02058548
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0515752
IRS990/TotalProgramServiceRevenueAmt0464392
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01424
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0464392
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0465816
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.16$0.20$1.96$0.62$0.61$0.01
2023Summary only. Only limited summary data is available for this year.$2.22$0.22$2.00$0.49$0.54$0.05
2022Detailed filing. Detailed filing data is available for this year.$2.30$0.25$2.06$0.47$0.56$0.09
2022Summary only. Only limited summary data is available for this year.$2.30$0.25$2.06$0.47$0.56$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.42$0.27$2.15$0.45$0.51$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.54$3.67$1.14$0.44$0.50$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.60$3.67$1.07$0.41$0.48$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$3.68$1.01$0.40$0.48$0.07
2017Summary only. Only limited summary data is available for this year.$2.74$3.67$0.94$0.40$0.45$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.77$3.67$0.89$0.41$0.44$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.82$3.67$0.86$0.38$0.38$0.00
2014Summary only. Only limited summary data is available for this year.$2.84$3.69$0.86$0.36$0.44$0.08
2013Summary only. Only limited summary data is available for this year.$2.90$3.68$0.78$0.33$0.39$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.97$3.68$0.72$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.03$3.67$0.64$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.04$3.63$0.59$0.37