GENESIS HOUSING CORPORATION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- GENESIS HOUSING CORPORATION (EIN 23-2785337)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-03-15
- IRS object ID
- 202320749349300027
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-03-15T09:45:19-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 232315910 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAUM SMITH & CLEMENS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2060 DETWILER RD SUITE 125 | AddressLine1Txt |
| City | HARLEYSVILLE | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19438 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 232785337 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GENESIS HOUSING CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GENE | BusinessNameControlTxt |
| Phone | 6102754357 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1430 DEKALB STREET SUITE 2020 | AddressLine1Txt |
| City | NORRISTOWN | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JUDITH S MEMBERG | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 6102754357 | PhoneNum |
| Signature | 2023-03-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JUDITH | PersonFirstNm |
| Person Last | MEMBERG | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JUSTIN YODER | PreparerPersonNm |
| PTIN | P03014822 | PTIN |
| Phone | 2153685755 | PhoneNum |
| Preparation | 2023-03-13 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JUDITH S MEMBERG | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1430 DEKALB STREET SUITE 2020 | AddressLine1Txt |
| City | NORRISTOWN | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $946,767 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.GENESISHOUSING.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1994 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | DEVELOPMENT OF AFFORDABLE HOUSING, REVITALIZATION OF NEIGHBORHOODS & EDUCATION OF CONSUMERS ON HOUSING AND FINANCIAL ISSUES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 4 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $501,844 | PYContributionsGrantsAmt |
| CY Contributions Grants | $754,618 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $176,099 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $192,141 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8 | PYInvestmentIncomeAmt |
| CY Investment Income | $8 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $677,951 | PYTotalRevenueAmt |
| CY Total Revenue | $946,767 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $78,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $230,155 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $284,749 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $577,365 | PYOtherExpensesAmt |
| CY Other Expenses | $526,382 | CYOtherExpensesAmt |
| PY Total Expenses | $885,520 | PYTotalExpensesAmt |
| CY Total Expenses | $811,131 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$207,569 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $135,636 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $898,152 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,060,470 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $104,963 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $131,645 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $793,189 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $928,825 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SINCE 1994, GENESIS HOUSING CORPORATION, A 501(C)(3) NON-PROFIT ORGANIZATION, HAS SERVED MONTGOMERY COUNTY PA AND THE SURROUNDING COUNTIES AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO). GENESIS HOUSING CORPORATION IS DEDICATED TO THE DEVELOPMENT OF AFFORDABLE HOUSING, THE REVITALIZATION OF NEIGHBORHOODS AND TO THE EDUCATION OF CONSUMERS ON HOUSING AND FINANCIAL ISSUES | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $464,007 | ExpenseAmt |
| Revenue | $184,535 | RevenueAmt |
| Desc | RENOVATION: GENESIS HOUSING CORPORATION REHABS PROPERTIES TO PROVIDE SAFE, DECENT AND AFFORDABLE HOMES FOR LOWER INCOME HOUSEHOLDS. PROPERTIES REHABBED HELP TO IMPROVE AND STABILIZE NEIGHBORHOODS. OWNER-OCCUPIED HOMES ARE RENOVATED TO PROVIDE SAFE AND DECENT HOUSING FOR LOWER INCOME HOMEOWNERS. COLLABORATIONS: GENESIS HOUSING CORPORATION WORKS WITH PARTNERS TO REHAB LARGER VACANT PROPERTIES TO CREATE AFFORDABLE RENTAL UNITS. GENESIS HOUSING CORPORATION ALSO PROVIDES CONSULTING SERVICES TO ASSIST OTHER NON-PROFIT ORGANIZATION COMPLETE RENOVATION PROJECTS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $235,870 | ExpenseAmt |
| Revenue | $7,606 | RevenueAmt |
| Desc | MONTGOMERY COUNTY LEAD PAINT ABATEMENT AND HEALTHY HOMES PROGRAM | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE HUD CERTIFIED HOUSING COUNSELING SERVICES ON CREDIT, MONEY MANAGEMENT AND HOME BUYING. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $699,877 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 4 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | PA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6102754357 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1430 DEKALB STREET SUITE 2020 | AddressLine1Txt |
| City | NORRISTOWN | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|
| JUDITH MEMBERG | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $70,000 | $0 | $15,375 | |
| CAROLYN PRANTE | ||||||
| PRESIDENT | 1.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| SUSAN SHIBER | ||||||
| PRESIDENT | 1.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| ROBERT STEVENSON | ||||||
| SECRETARY/TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| BRIAN BILLINGS | ||||||
| VICE PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| AL GRYGA | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| SHARON MCMICHAEL | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| ANNA JOHNSON | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| DENNIS MATHEWS | ||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $70,000 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $15,375 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $631,972 | GovernmentGrantsAmt |
| All Other Contributions | $122,646 | AllOtherContributionsAmt |
| Total Contributions | $754,618 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DEVELOPER FEES | 531390 | $104,021 | $104,021 |
| RENTAL OF PROPERTY | 531110 | $80,514 | $80,514 |
| CONSULTING INCOME | 531390 | $7,606 | $7,606 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $192,141 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8 | TotalRevenueColumnAmt |
| Exclusion | $8 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $946,767 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $192,141 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $85,702 | TotalAmt |
| Program Services | $42,851 | ProgramServicesAmt |
| Management And General | $42,851 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $164,036 | TotalAmt |
| Program Services | $157,144 | ProgramServicesAmt |
| Management And General | $6,892 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,091 | TotalAmt |
| Program Services | $2,091 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,221 | TotalAmt |
| Program Services | $14,221 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,699 | TotalAmt |
| Program Services | $15,396 | ProgramServicesAmt |
| Management And General | $3,303 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,950 | TotalAmt |
| Management And General | $11,950 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,321 | TotalAmt |
| Program Services | $7,874 | ProgramServicesAmt |
| Management And General | $2,447 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,099 | TotalAmt |
| Program Services | $11,426 | ProgramServicesAmt |
| Management And General | $2,673 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $555 | TotalAmt |
| Management And General | $555 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,993 | TotalAmt |
| Program Services | $25,993 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,404 | TotalAmt |
| Management And General | $22,404 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| HOME REHAB COSTS - NEIG | $314,773 | $314,773 | |
| RENTAL PROPERTIES EXP | $55,978 | $55,978 | |
| NEIGHBORHOOD ASSISTANCE | $52,130 | $52,130 | |
| BAD DEBT | $18,179 | $18,179 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $811,131 | TotalAmt |
| Program Services | $699,877 | ProgramServicesAmt |
| Management And General | $111,254 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $149,655 | BOYAmt |
| EOY | $131,658 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,287 | BOYAmt |
| EOY | $6,287 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $51,074 | BOYAmt |
| EOY | $122,890 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,073 | BOYAmt |
| EOY | $4,354 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $721,515 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $171,199 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $576,309 | BOYAmt |
| EOY | $550,316 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,754 | BOYAmt |
| EOY | $244,965 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $898,152 | BOYAmt |
| EOY | $1,060,470 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,887 | BOYAmt |
| EOY | $65,089 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,011 | BOYAmt |
| EOY | $23,297 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106 | BOYAmt |
| EOY | $106 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,959 | BOYAmt |
| EOY | $43,153 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,963 | BOYAmt |
| EOY | $131,645 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $340,724 | BOYAmt |
| EOY | $440,028 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $452,465 | BOYAmt |
| EOY | $488,797 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $793,189 | BOYAmt |
| EOY | $928,825 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $898,152 | BOYAmt |
| EOY | $1,060,470 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $135,636 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,257,405 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $481,429 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $450,768 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $501,844 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $754,618 | CurrentTaxYearAmt |
| Total | $3,446,064 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,257,405 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $481,429 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $450,768 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $501,844 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $754,618 | CurrentTaxYearAmt |
| Total | $3,446,064 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $362,134 | SubstantialContributorsTotAmt |
| Public Support Total170 | $3,083,930 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $466 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $71 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $9 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $8 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $8 | CurrentTaxYearAmt |
| Total | $562 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $3,446,626 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $873,889 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.89480 | PublicSupportCY170Pct |
| Public Support PY170 | 0.93210 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $708,960 | OtherCostOrOtherBasisAmt |
| Depreciation | $159,762 | DepreciationAmt |
| Book Value | $549,198 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,425 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,425 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,130 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,012 | DepreciationAmt |
| Book Value | $1,118 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $550,316 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| CONSTRUCTION IN PROGRESS | $221,075 |
| SECURITY DEPOSITS | $1,060 |
| OTHER ASSETS | $22,830 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $244,965 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DEPOSITS | $4,585 |
| PREPAID RENT | $38,568 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $43,153 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $946,767 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $946,767 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $946,767 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $811,131 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $811,131 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $811,131 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION IS REQUIRED TO RECOGNIZE, MEASURE, CLASSIFY, AND DISCLOSE IN THE FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ORGANIZATION'S TAX RETURNS. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD TREASURER (CPA). IF THERE ARE NO CORRECTIONS, 990 IS PROVIDED TO ENTIRE BOARD FOR REVIEW AND DISCUSSION AT BOARD MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | IF THERE IS A CONFLICT OF INTEREST, OR THE APPEARANCE OF A CONFLICT OF INTEREST, FOR ANY BOARD VOTE, THE BOARD MEMBER WILL EXPLAIN THE CONFLICT AND ABSTAIN FOR THIS VOTE. |
| FORM 990, PART VI, SECTION B, LINE 15 | BOARD REVIEWS BUDGETS, SALARIES, AND ANY INCREASES IN SALARIES. BOARD VOTES TO APPROVE CHANGES. |
| FORM 990, PART VI, SECTION C, LINE 18 | UPON REQUEST |
| FORM 990, PART VI, SECTION C, LINE 19 | UPON REQUEST |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WARREN HOUSING DEVELOPMENT INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1430 DEKALB STREET | AddressLine1Txt |
| City | NORRISTOWN | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 202417370 | EIN |
| Primary Activities | DEVELOP AFFORDABLE HOUSING | PrimaryActivitiesTxt |
| Legal Domicile State | PA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GENESIS HOUSING CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Share Of Total IncomeShareOfTotalIncomeAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RELIANCE CROSSING LIMITED PARTNERSHIP | |||||||||||
| 5 POWELL LANE | COLLINGSWOOD | NJ | 08108 | 472205423 | DEVELOPMENT OF LOW INCOME HOUSING | NJ | GENESIS RELIANCE INC | -$21 | Yes (1) | Yes (1) | |
| BEECH STREET FACTORY LP | |||||||||||
| 2 CANAL END ROAD UNIT 201-E | BRISTOL | PA | 19007 | 475474842 | DEVELOPMENT OF LOW INCOME HOUSING | PA | GENESIS BEECH STREET | -$19 | Yes (1) | Yes (1) | |
| WILLOWS AT EAST GREENVILLE MM LLC | |||||||||||
| 5 POWELL LANE | COLLINGSWOOD | NJ | 08108 | 832320452 | DEVELOPMENT OF LOW INCOME HOUSING | NJ | GENESIS WILLOWS | -$4 | Yes (1) | Yes (1) | 0.51000 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| GENESIS BEECH STREET | |||||||||
| 1430 DEKALB STREET SUITE 2020 | NORRISTOWN | PA | 19401 | 475454874 | GENERAL PARTNER FOR DEVELOPMENT OF LOW INCOME HOUSING | PA | GENESIS HOUSING CORPORATION | C | 0 |
| GENESIS-RELIANCE INC | |||||||||
| 1430 DEKALB STREET SUITE 2020 | NORRISTOWN | PA | 19401 | 473018896 | GENERAL PARTNER FOR DEVELOPMENT OF LOW INCOME HOUSING | PA | GENESIS HOUSING CORPORATION | C | 0 |
| GENESIS WILLOWS | |||||||||
| 1430 DEKALB STREET SUITE 2020 | NORRISTOWN | PA | 19401 | 830662461 | GENERAL PARTNER FOR DEVELOPMENT OF LOW INCOME HOUSING | PA | GENESIS HOUSING CORPORATION | C | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BEECH STREET FACTORY LP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | S | TransactionTypeTxt |
| Involved | $120,904 | InvolvedAmt |
| Method Of Amount Determination | CASH PAID | MethodOfAmountDeterminationTxt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE R PART II | FormAndLineReferenceDesc |
| Explanation | FOR INFORMATIONAL PURPOSES ONLY: GENESIS HOUSING CORPORATION AMONG OTHERS IS PARTY TO AN AGREEMENT INVOLVING WELLS FARGO BANK N.A. AS A CONDITION OF THAT AGREEMENT WELLS FARGO BANK N.A. HAS A REQUIREMENT THAT GENESIS HOUSING CORPORATION INCLUDE CERTAIN INFORMATION WITH THE FILING OF ITS FORM 990. THE FOLLOWING INFORMATION IS PRESENTED PURSUANT TO THAT REQUIREMENT. GENESIS HOUSING CORPORATION IS THE SOLE SHAREHOLDER OF GENESIS RELIANCE INC. A PENNSYLVANIA NOT FOR PROFIT STOCK CORPORATION. GENESIS RELIANCE INC. MADE THE FOLLOWING ELECTION ON ITS INITIAL RETURN. GENESIS RELIANCE INC. GENERAL ELECTION: ELECTION NOT TO BE TREATED AS EXEMPT ENTITY SECTION 168(H)(6)(F)(II) IRS CODE THE TAXPAYER HEREBY ELECTS TO HAVE ANY GAIN RECOGNIZED BY ITS TAX EXEMPT PARENT ON ANY DISPOSITION OF ANY INTEREST IN THE TAXPAYER (AND TREAT ANY DIVIDENDS OR INTEREST RECEIVED OR ACCRUED FROM THE TAXPAYER) AS UNRELATED BUSINESS TAXABLE INCOME UNDER CODE SECTION 511 IN ORDER FOR THE TAXPAYER NOT TO BE TREATED AS A "TAX-EXEMPT ENTITY" (OR AS A SUCCESSOR TO A TAX EXEMPT ENTITY) UNDER SECTION 168 (H)(6)(F)(II) OF THE IRS. THIS ELECTION IS IRREVOCABLE. GENESIS BEECH STREET MADE THE FOLLOWING ELECTION ON ITS INITIAL TAX RETURN: GENESIS BEECH STREET, A NONPROFIT SUBSIDIARY OF GENESIS HOUSING CORPORATION, A PENNSYLVANIA NONPROFIT CORPORATION, HEREBY ELECTS, PURSUANT TO INTERNAL REVENUE CODE SECTION 168(H)(6)(F), THAT THE ENTITY SHALL NOT BE TREATED AS A TAX-EXEMPT ENTITY AND ANY GAIN RECOGNIZED BY THE TAX EXEMPT ENTITY ON ANY DISPOSITION OF AN INTEREST IN SUCH ENTITY (AND ANY DIVIDEND OR INTEREST RECEIED OR ACCRUED BY THE TAX EXEMPT ENTITY FROM SUCH TAX-EXEMPT CONTROLLED ENTITY) SHALL BE TREATED AS UNRELATED BUSINESS TAXABLE INCOME UNDER INTERNAL REVENUE CODE SECTION 511. THIS ELECTION IS IRREVOCABLE. GENESIS HOUSING CORPORATION IS THE SOLE SHAREHOLDER OF GENESIS WILLOWS A PENNSYLVANIA NOT FOR PROFIT STOCK CORPORATION. GENESIS WILLOWS MADE THE FOLLOWING ELECTION ON ITS INITIAL RETURN. GENESIS WILLOWS GENERAL ELECTION: ELECTION NOT TO BE TREATED AS EXEMPT ENTITY SECTION 168(H)(6)(F)(II) IRS CODE THE TAXPAYER HEREBY ELECTS TO HAVE ANY GAIN RECOGNIZED BY ITS TAX EXEMPT PARENT ON ANY DISPOSITION OF ANY INTEREST IN THE TAXPAYER (AND TREAT ANY DIVIDENDS OR INTEREST RECEIVED OR ACCRUED FROM THE TAXPAYER) AS UNRELATED BUSINESS TAXABLE INCOME UNDER CODE SECTION 511 IN ORDER FOR THE TAXPAYER NOT TO BE TREATED AS A "TAX-EXEMPT ENTITY" (OR AS A SUCCESSOR TO A TAX EXEMPT ENTITY) UNDER SECTION 168 (H)(6)(F)(II) OF THE IRS. THIS ELECTION IS IRREVOCABLE. ADDITIONAL INFORMATION FOR SCHEDULE R PART III COLUMN K: THE PROGRAM ONLY ALLOWS 2 DECIMAL POINTS FOR PERCENTAGE OF OWNERSHIP - BELOW ARE THE ACTUAL PERCENTAGES: RELIANCE CROSSING LIMITED PARTNERSHIP .0051000% BEECH STREET FACTORY LP .0049000% GENESIS WILLOWS 51.00% | ExplanationTxt |