2024-12-09T11:09:52-06:00 2021-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2021-01-01 042944144 HOUSING CORPORATION OF ARLINGTON HOUS 7818595294 252 MASSACHUSETTS AVE ARLINGTON MA 02474 ERICA SCHWARZ CURRENT EXECUTIVE DIRECTOR 7818595294 2024-12-05 1 JUSTIN K LEROUX CPA P01722988 5083669100 2024-12-05 2021 2024-10-15 13:58:12Z X THOMAS NEE 252 MASSACHUSETTS AVE ARLINGTON MA 02474 1905445 0 X WWW.HOUSINGCORPARLINGTON.ORG X 1986 MA THE HOUSING CORPORATION OF ARLINGTON PROVIDES AND ADVOCATES FOR DECENT, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES AND INDIVIDUALS IN ARLINGTON AND SURROUNDING COMMUNITIES, WHILE PROMOTING SOCIAL AND ECONOMIC DIVERSITY. 13 13 7 69 0 0 1319941 579947 1228666 1160530 456272 80 10775 164888 3015654 1905445 106722 127072 0 0 384934 464173 0 0 99088 1747366 2768829 2239022 3360074 776632 -1454629 31940456 17581714 31724884 18122282 215572 -540568 TO ACQUIRE, DEVELOP, IMPROVE, SELL, MANAGE (MORTGAGE, REMORTGAGE) AND LEASE AFFORDABLE HOUSING IN THE TOWN OF ARLINGTON FOR LOW AND MODERATE INCOME FAMILIES AND TO PROVIDE OTHER SOCIAL AND CIVIC SERVICES TO BENEFIT LOW AND MODERATE INCOME MEMBERS OF SOCIETY. 0 0 2331964 1325418 THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELS BELOW MARKET RATES. THE PROGRAM WAS PROVIDED THROUGH 61 RENTAL UNITS OWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTS IN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATION OF ARLINGTON THAT WERE ATRRIBUTABLE TO THE OVERALL AFFORDABLE HOUSING PROGRAM. 860429 127072 IN 2021, THE HOMELESS PREVENTION PROGRAM PROVIDED GRANTS TO HOUSEHOLDS ON THE VERGE OF BEOMING HOMELESS. THE MAJORITY OF THESE GRANTS WERE USED FOR MOVING EXPENSES, RENT, AND SECURITY DEPOSITS. THE PROGRAM ALSO ASSISTS INDIVIDUALS IN FINDING AFFORDABLE UNITS IN ARLINGTON, ESPECIALLY ADVOCATING FOR TENANTS WITH THE ARLINGTON HOUSING AUTHORITY. 3192393 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 12 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X TAKA MASHOKO 7818595294 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 THOMAS NEE PRESIDENT 3.00 1.00 X X 0 0 0 JONATHAN WALLACH TREASURER 3.00 1.00 X X 0 0 0 DEIRDRE WESTCOTT CLERK 3.00 X X 0 0 0 JANET BLODGETT DIRECTOR 2.00 X 0 0 0 JOHN COOPER DIRECTOR 2.00 X 0 0 0 MARESHIA DONALD DIRECTOR 2.00 X 0 0 0 JILLIAN FLYNN DIRECTOR 2.00 X 0 0 0 ABHIDNYA KURVE DIRECTOR 2.00 X 0 0 0 NEAL MONGOLD DIRECTOR 2.00 1.00 X 0 0 0 MARY-ANNE MORRISON DIRECTOR 2.00 X 0 0 0 MATTHEW PIERCE DIRECTOR 2.00 X 0 0 0 FRANCIS TADLEY DIRECTOR 2.00 X 0 0 0 MANUEL BOLIVAR DIRECTOR 2.00 X 0 0 0 JEFFREY KATZ INTERIM EXECUTIVE DIRECTOR (AS OF 7/1/21) 40.00 1.00 X 96028 0 9028 PAMELA HALLETT EXECUTIVE DIRECTOR (UNTIL 6/30/21) 40.00 1.00 X 89579 0 6160 185607 0 15188 0 0 0 0 DELPHI CONSTRUCTION 255 BEAR HILL ROAD WALTHAM MA 02451 GENERAL CONTRACTOR 10340580 DAVIS SQUARE ARCHITECTS 240 ELM STREET SOMERVILLE MA 02144 ARCHITECTURE 156961 2 366637 213310 579947 RENTAL INCOME 531120 1107446 1107446 DEVELOPER FEES 531390 32552 32552 MANAGEMENT FEES 531390 20532 20532 1160530 80 80 OTHER INCOME 531110 164888 164888 164888 1905445 1325418 0 80 127072 127072 200795 181437 9232 10126 208470 130028 30874 47568 21962 14344 3017 4601 32946 24892 3295 4759 109894 109894 36471 36471 53979 52109 765 1105 220225 187551 13366 19308 26756 11616 6193 8947 642146 638988 1292 1866 590 590 654960 654960 37707 36340 559 808 LOAN LOSS PROVISIONS 618192 618192 BAD DEBTS 249297 249297 MISCELLANEOUS 118612 118612 3360074 3192393 68593 99088 688976 331044 118724 85546 14570 537850 36507 23209 21763528 6269823 30326827 15493705 146026 1719186 31940456 17581714 1920860 348288 58198 57887 29745826 16526107 0 1190000 31724884 18122282 X 215572 -540568 215572 -540568 31940456 17581714 X -1454629 285489 413000 X X 0 1 X 1 0 X 395393 547258 515791 1319941 579947 3358330 395393 547258 515791 1319941 579947 3358330 62770 3295560 2067 3891 4864 1272 80 12174 3370504 5683733 0.97780 0.85610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 2348615 2348615 11946414 4624513 7321901 7351890 1631364 5720526 116609 13946 102663 15493705 RESTRICTED CASH 412979 DUE FROM AFFILIATES 1306207 1719186 CONDITIONAL GRANT ADVANCE 1100000 LINE OF CREDIT 90000 1190000 X PART IV, LINE 2B: HCA MAINTAINS TENANT SECURITY DEPOSITS IN A CUSTODIAL CAPACITY IN ACCORDANCE WTIH TENANT RENTAL AGREEMENTS. PART X, LINE 2: THE AGENCY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE AGENCY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2021. HOWEVER, THE AGENCY IS SUBJECT TO AUDIT BY TAX AUTHORITIES. 1 HOMELESS PREVENTION PROGRAM 54 127072 N/A PART I, LINE 2: THE HOMELESSNESS PREVENTION PROGRAM WAS CREATED TO PROVIDE EMERGENCY FINANCIAL SUPPORT TO ARLINGTON RESIDENTS FACING EVICTION DUE TO AN UNEXPECTED CRISIS. THE PROGRAM PROVIDES GRANTS TO ASSIST WITH BACK RENT, AN UNEXPECTED CRISIS OR SECURITY DEPOSITS. GRANTS ARE CAPPED AT $1,500 AND ARE GIVEN ONLY IN CASES IN WHICH THE ASSISTANCE WILL STABILIZE HOUSING FOR A RESIDENT FOR AT LEAST A SIX MONTH PERIOD. FORMAL PROGRAM GUIDELINES SET FORTH ELIGIBLE COSTS, INCOME LIMITS OF APPLICANTS, AND FUNDING LIMITS. THE PROGRAM IS ADMINISTERED BY HCA. A COMMITTEE COMPOSED OF THREE MEMBERS CHOSEN FROM THE TOWN OF ARLINGTON COUNCIL ON AGING, A COMMUNITY APPOINTEE AND BOARD MEMBER REVIEW ALL APPLICANTS AND MAKE A RECOMMENDATION FOR GRANTS. MANAGEMENT OF HCA MAKES THE FINAL FUNDING DECISIONS. FORM 990, PART 1: THE ORGANIZATION IS FILING AN AMENDED RETURN FOR 12/31/2021 DUE TO UPDATED FINANCIAL STATEMENTS BEING ISSUED. INCLUDED IN THE AMENDED FORM 990 IS: AN UPDATE TO REVENUE AMOUNTS ON PAGE 9 AN UPDATE TO THE EXPENSE AMOUNTS ON PAGE 10 AN UPDATE TO THE BALANCE SHEET AMOUNTS ON PAGE 11 AN UPDATE TO RECONCILING ITEMS ON PAGE 12 AN UPDATE TO SCHEDULE A PART II AN UPDATE TO SCHEDULE B AN UPDATE TO SCHEDULE D, PART VI FORM 990, PART VI, SECTION A, LINE 3 THE AGENCY HAS AN AGREEMENT WITH MALONEY PROPERTIES, INC. (MALONEY), AN UNRELATED ENTITY TO CARRY ON THE DAY-TO-DAY OPERATIONS OF THE PROJECTS. MALONEY RECEIVES A MANAGEMENT FEE OF 5% HCA'S RENTAL UNITS' GROSS RENTS, AS DEFINED IN THE AGREEMENT. THE AGENCY INCURRED MANAGEMENT FEES UNDER THESE AGREEMENTS TOTALING $109,894 FOR 2021. FORM 990, PART VI, SECTION B, LINE 11B HCA'S EXECUTIVE DIRECTOR AND FINANCE COMMITTEE REVIEW A DRAFT OF THE FORM 990. ONCE APPROVED BY THE EXECUTIVE DIRECTOR AND FINANCE COMMITTEE A FINAL VERSION OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C HCA REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY HAVING THE BOARD MEMBERS SIGN THIS POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS TO ENSURE THEY ARE COMPARABLE TO SIMILAR ORGANIZATIONS AND REASONABLE FOR THE DUTIES BEING PERFORMED. THE SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS. APPROXIMATELY NINETY (90) DAYS AFTER A TOP MANAGEMENT OFFICIAL BEGINS EMPLOYMENT WITH HCA, THE EXECUTIVE COMMITTEE WILL COMPLETE A PERFORMANCE EVALUATION. THEREAFTER, A PERFORMANCE EVALUATION IS GENERALLY HELD ANNUALLY IN THE TOP MANAGEMENT OFFICIAL'S ANNIVERSARY MONTH. IF A SALARY ACTION IS APPROPRIATE BASED UPON THE PERFORMANCE EVALUATION, IT WILL GENERALLY OCCUR AT THE SAME TIME THE ANNUAL PERFORMANCE EVALUATION IS COMPLETED. APPROXIMATELY NINETY (90) DAYS AFTER AN EMPLOYEE BEGINS EMPLOYMENT WITH HCA, THE IMMEDIATE SUPERVISOR WILL COMPLETE A PERFORMANCE EVALUATION IN CONSULTATION WITH THE EXECUTIVE DIRECTOR. THEREAFTER, A PERFORMANCE EVALUATION IS GENERALLY HELD ANNUALLY IN THE EMPLOYEE'S ANNIVERSARY MONTH. IF A SALARY ACTION IS APPROPRIATE BASED UPON THE EMPLOYEE'S PERFORMANCE EVALUATION, IT WILL GENERALLY OCCUR AT THE SAME TIME OF THE EMPLOYEE'S ANNUAL PERFORMANCE EVALUATION IS COMPLETED. FORM 990, PART VI, SECTION C, LINE 18 HCA'S FORM 990 IS AVAILABLE UPON REQUEST AND ON WWW.GUIDESTAR.ORG. HCA'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 HCA'S FORM 990 IS AVAILABLE UPON REQUEST AND ON WWW.GUIDESTAR.ORG. HCA'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER NET ASSET 413,000. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. HOLY SAGE KRP LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 843912985 AFFORDABLE HOUSING MA 0 0 HOUSING CORPORATION OF ARLINGTON ACADEMY DEVELOPMENT PARTNERS INC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 371654418 AFFORDABLE HOUSING MA 501(C)(3) LINE 7 HOUSING CORPORATION OF ARLINGTON 1 HCA CAPITOL SQUARE APARTMENTS LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 460615711 RENTAL REAL ESTATE MA N/A 0 0 DSBI LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 843968780 RENTAL REAL ESTATE MA N/A 0 0 DSBI MANAGER LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 872035443 RENTAL REAL ESTATE MA N/A 0 0 252 258-260 MASS AVE LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 800898408 RENTAL REAL ESTATE MA HOUSING CORPORATION OF ARLINGTON C 0.79000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0