Archuleta Housing for the Elderly

“Expenses office expenses 7,345 misc admin expenses 2,136 insurance 3,146 bad debts 711 misc taxes, licenses & pe 95 non-investment depreciation 22,470 total 35,903”

“Accounts receivable 1,284 1,414 less allowance 0 397 net 1,284 1,017 prepaid expenses and deferred charges 2,776 3,058 land improvements 3,665 13,640 less accumulated depreciation 462 1,267 building equippment 14,768 14,768 less accumulated depreciation 3,816 5,226 maintenance equipment 946 946 less accumulated depreciation 946 946 replacement reserves 43,900 42,865 residual receipts 3,009 3,014 tenant security deposits 4,238 4,171 total 69,362 76,040”

“Accounts payable and accrued expenses 18,077 14,607 deferred revenue 8 58 tenant security deposits 4,234 4,171 mortgage and other notes payable 827,240 827,240”

“To provide elderly or disabled persons with housing facilities and services specifically designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness and usefulness in longer living, the charges for such facilities and services are to be predicated upon the provision, maintenance and operation thereof on a nonprofit basis.”

“To provide elderly or disabled persons with safe , stable, and affordable housing, to create supportive opportunities to promote self-sufficiency and build community for our residents. Currently, operate a 12 unit project for the very low income elderly or disabled persons.”

“The purpose for the amended and restated articles of incorporation was to more clearly define 'elderly' as "at least 62 years of age or older, of low income or special needs. To provide on a non-profit basis, housing for low-income senior individuals, couples, or disabled persons, pursuant to section 202 of the housing act of 1959, as amended, or section 811 of the national affordable housing act". In addition, the articles now clearly state the maximum number of board directors serving shall be 9.”