Housing and Community Services Inc

“The organization contracts with wedge management, inc. And nhmc - national housing management corporation, related taxable corporations, to serve as its management agents for the operational activities of its low-income housing properties.”

“The executive director is charged with the timely and accurate preparation of the annual form 990. An independent cpa firm prepares a draft of the form 990. The organization vice president of financial compliance and senior vice president of finance & accounting review the draft. The executive director reviews and signs the final form 990, which is then filed. A copy of the form 990 that was filed is provided to the board of directors at the board meeting subsequent to the filing of the form 990.”

“At the annual meeting of the board members, all members are asked to review and sign a new policy statement and advise the board if any conflicts exist.”

“The organization board of directors establishes a compensation committee annually to review the executive director (ed) compensation. See schedule j, part i, line 3 for methods that are used to establish the compensation. Wedge management, inc. (wmi) and nhmc-national housing management corporation (nhmc) are related taxable corporations that provide property management and accounting services to the organization for its low-income housing properties. The ed of the organization is the ceo of wmi and the president of nhmc. Together the organization, wmi, and three other organization associates pay the compensation and benefits (c&b) for the ed.”

“All documents are available upon request.”

“The organization continued as the sole member of 810/910 north frio street gp, llc, which is the general partner of 810/910 north frio street, lp (lp}. The lp owns and operates the vista verde apartments, 192 units of affordable housing in san antonio, texas financed with tax credits awarded by the tdhca. During this reporting period the organization maintained a hud property based section 8 housing assistance payment contract making 190 units available to individuals and families with incomes less than 30% of the area median income (ami}. The organization maintained the operations of the property in compliance with hud and tdhca regulations. Further, an on-site hud neighborhood networks center which houses a computer center with internet access was maintained. An after-school program was maintained that operated out of the center and provided tutoring and structured activities for property youth. The organization continued as the sole member of west durango gp, llc, which is the general partner of west durango, lp (lp}. The lp owns and operates the west durango plaza apartments, 82 units of affordable housing in san antonio, texas, financed with tax credits awarded by the tdhca. During this reporting period the organization maintained a hud property based section 8 housing assistance payment contract making all 82 units available to individuals and families with incomes less than 30% of the ami. The organization maintained the operations of the property in compliance with hud and tdhca regulations. Further, an on-site hud neighborhood networks center which houses a computer center with five computers with internet access was maintained. Additionally, an after-school program was maintained that operated out of the center and provided tutoring and structured activities for property youth. The organization continued as the sole member of kingsville lulac manor gp, llc, which is the general partner of kingsville lulac manor, lp (lp). The lp owns and operates the kingsville lulac manor apartments, 88 units of affordable housing in kingsville, texas, financed with tax credits awarded by the tdhca. During this reporting period the organization maintained a hud property based section 8 housing assistance payment contract making all 88 units available to individuals and families with incomes less than 30% of the ami. Additionally, during this period, the organization maintained an on-site hud neighborhood networks center which houses a computer center with internet access. The organization continued as the sole member of guild park gp, llc, which is the general partner of guild park, lp (lp). The lp owns and operates the guild park apartments, 114 units of affordable housing in san antonio, texas, which is financed with tax credits awarded by the tdhca. All 114 of the units are available to individuals and families with income less than 30% to 60% of the ami. The organization continued as the 99.9% limited partner in om/ov, lp, which owns and operates the oak manor apartments, 229 units of affordable housing in san antonio, texas. Acquisition and rehabilitation was financed with tax credit exchange program funding awarded by the tdhca. A hud property based section 8 housing assistance payment contract is maintained making 220 units available to individuals and families with income less than 30% of the ami. The organization continued as the sole member of hcs montabella pointe, llc, which is the general partner of montabella pointe, ltd. The limited partnership owns and operates the montabella pointe apartments, 144 units of affordable housing in san antonio, texas, which was funded using tax credit assistance program funding and tax credit awards.”

“The organization had no employees during the period and does not expect to pay wages in the future. The organization was not required to file a form w-3, because it leased all operating personnel from a professional employer organization (peo). The organization reported employee leasing costs in form 990, part ix, lines 5 and 7 to 10, as applicable, as if the leased employees were directly paid employees of the organization.”

“Pv country club village gp, llc, a texas limited liability company that has elected to be classified as an association taxable as a corporation, taxpayer identification number 85-2993248, whose address is 3419 nacogdoches rd., san antonio, texas 78217, hereby makes an election under section l 68(h)(6)(f)(ii) of the internal revenue code of 1986, as amended (the "code"), which provides that any gain recognized by a tax-exempt entity (as defined in section 168(h)(2) of the code) on any disposition of an interest in pv country club village gp, llc, and any dividend income (which is properly allocable to income of pv country club village gp, llc, which is not subject to federal income tax) or interest income received or accrued by a tax-exempt entity from pv country club village gp, llc shall be treated as unrelated business taxable income for purposes of section 511 of the code. Such election is irrevocable and binds all tax-exempt entities holding interests in pv country club village gp, llc. Pv country club village gp, llc is a tax-exempt controlled entity of housing and community services, inc., a texas non-profit corporation and 50l (c)(3) tax-exempt entity. Executed effective for the initial tax period ended december 31, 2022.”