2023-08-01T09:33:59-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2022-01-01 231668087 CASA FARNESE INC CASA 2157353858 1300 LOMBARD STREET PHILADELPHIA PA 19147 JOSEPH H JACOVINI CHAIRMAN 2157353858 2023-07-26 1 JOSEPH JACOVINI 999009999 0 VICKI RAIVITCH P00075336 2156433900 2023-06-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOSEPH H JACOVINI 1300 LOMBARD STREET PHILADELPHIA PA 19147 4183699 0 X N/A X 1962 DE PROVIDE LOW AND MODERATE INCOME HOUSING TO 288 SENIOR CITIZENS, THROUGH APARTMENT RENTALS 15 15 11 18 0 0 0 9500 3957881 4045056 306 313 142988 128830 4101175 4183699 0 1634 0 0 681188 701422 0 0 0 2913702 3125577 3594890 3828633 506285 355066 16828224 16763275 10801909 10381894 6026315 6381381 APARTMENT RENTAL - TO PROVIDE LOW TO MODERATE INCOME HOUSING TO SENIOR CITIZENS IN ACCORDANCE WITH HUD GUIDELINES 0 0 3532561 1634 4045056 THE ORGANIZATION PROVIDES LOW TO MODERATE INCOME HOUSING T0 288 SENIOR CITIZENS IN ACCORDANCE WITH HUD GUIDELINES. 52236 0 0 THE ORGANIZATION PROVIDES A COORDINATOR OF SERVICES TO PROVIDE VARIOUS SOCIAL SERVICES TO RESIDENTS. 3584797 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 PA X PRD MANAGEMENT 8564861990 587 HADDON AVE COLLINGSWOOD NJ 08108 X ANNETTE RIZZO PRESIDENT 3.00 X X 0 0 0 JOSEPH H JACOVINI ESQUIRE CHAIRMAN 3.00 X X 0 0 0 DAVID JACOVINI TREASURER 0.30 X X 0 0 0 DAVID P DALESANDRO ESQUIRE SECRETARY 0.30 X X 0 0 0 EILEEN M COGGINS BOARD MEMBER 0.30 X 0 0 0 DINA DELLA DUCATA BOARD MEMBER 0.30 X 0 0 0 TONY EWING BOARD MEMBER 0.30 X 0 0 0 LAWRENCE FARNESE JR BOARD MEMBER 0.30 X 0 0 0 DR ALFRED IEZZI BOARD MEMBER 0.30 X 0 0 0 DAVID KIMMEL BOARD MEMBER 0.30 X 0 0 0 DOMINIC S LIBERI ESQUIRE BOARD MEMBER 0.30 X 0 0 0 DIANE MENIO BOARD MEMBER 0.30 X 0 0 0 CAROL A TAMBURINO BOARD MEMBER 0.30 X 0 0 0 LAURA VALENTI BOARD MEMBER 0.30 X 0 0 0 JEAN WANG BOARD MEMBER 0.30 X 0 0 0 0 0 0 0 0 0 0 RIVER MECHANICAL SERVICES INC 605 W ASHLAND AVENUE GLENOLDEN PA 19036 CONTRACTING SERVICES 542285 OTIS ELEVATOR CORPORATION PO BOX 1371 NEWARK NJ 07188 SPRINKLER PROJECT 428477 BATH SAVER INC 542 INDUSTRIAL DRIVE LEWISBERRY PA 17339 CONTRACTING SERVICES 194262 OPS SECURITY GROUP 1500 S CHRISTOPHER COLUMBUS BLVD 6 PHILADELPHIA PA 19147 SECURITY SERVICES 176933 ELECTRONIC SECURITY GROUP 5115 CAMPUS DRIVE PLYMOUTH MEETING PA 19462 CONTRACTING SERVICES 144188 7 9500 9500 RENTAL INCOME 531110 4045056 4045056 4045056 313 313 99100 0 99100 99100 99100 LAUNDRY INCOME 812300 29200 29200 LATE CHARGES & OTHER 812900 530 530 29730 4183699 4045056 0 129143 X 1634 1634 542563 542563 117016 117016 41843 41843 212987 212987 48221 48221 67863 37014 30849 590267 590267 403 403 63080 63080 356674 356674 413921 413921 1048313 1048313 161007 161007 REPAIRS & MAINTENANCE 84640 84640 SUPPLIES 75460 75460 BAD DEBTS 2741 2741 3828633 3584797 243836 0 587110 388836 1862885 1795939 44316 15965 127807 132909 27536337 13228969 14087373 14307368 118733 122258 16828224 16763275 366377 152482 20697 16780 10296102 10090374 118733 122258 10801909 10381894 X 6026315 6381381 6026315 6381381 16828224 16763275 355066 0 X 0 1 X 1 0 X 4000 9500 13500 3771064 3833547 3900579 3957881 4045056 19508127 31335 30125 29145 28130 29200 147935 3806399 3863672 3929724 3986011 4083756 19669562 0 0 0 19669562 121416 121405 123113 114806 99413 580153 121416 121405 123113 114806 99413 580153 120484 883 358 530 122255 3927815 4105561 4053720 4101175 4183699 20371970 0.96550 0.96230 0.02850 0.03140 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OVERPAYMENT ON RESERVE - 2019 AMOUNT: $ 119,350. LATE CHARGES OTHER - 2019 AMOUNT: $ 1,134. 2020 AMOUNT: $ 883. 2021 AMOUNT: $ 358. 2022 AMOUNT: $ 530. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 369038 369038 25604572 12002091 13602481 1562727 1226878 335849 14307368 TENANT SECURITY DEPOSITS 122258 122258 X 4188699 5000 5000 4183699 0 4183699 3833633 5000 5000 3828633 0 3828633 PART X, LINE 2: THE PROJECT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS EXEMPT FROM PENNSYLVANIA AND PHILADELPHIA LOCAL INCOME TAXES. NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION UTILIZES THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. THE PROJECT IS ALSO EXEMPT FROM PHILADELPHIA REAL ESTATE TAXES. THE PROJECT'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVERSE INTERNAL DONATION 5,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: REVERSE INTERNAL DONATION 5,000. FORM 990, PART VI, SECTION A, LINE 2 JOSEPH H. JACOVINI, CHAIRMAN, AND DAVID JACOVINI, TREASURER, HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION USES PRD MANAGEMENT, INC., (PRD) TO MANAGE ITS OPERATIONS. PRD'S DUTIES INCLUDE HIRING, SUPERVISING, DIRECTING, DISCHARGING AND DETERMINING THE COMPENSATION OF ALL EMPLOYEES AND MANAGING THE RENTAL AND MAINTENANCE OF UNITS WITHIN THE BUILDING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN REVIEWED AND APPROVED BY THE FINANCE COMMITTEE. THE FINAL VERSION OF THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS, OFFICERS, COMMITTEE MEMBERS AND ALL EMPLOYEES OR STAFF MEMBERS OF THE ORGANIZATION THAT HOLD SENIOR MANAGEMENT POSITIONS. A POTENTIAL CONFLICT MUST BE DISCLOSED TO THE DIRECTORS OR ANY OTHER ORGANIZATION PERSONS CONSIDERING A PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE, THE INTERESTED PERSON SHALL NOT PARTICIPATE IN THE DECISION BY THE ORGANIZATION REGARDING THE MATTER UNDER CONSIDERATION. AFTER EXERCISING DUE DILIGENCE, THE ORGANIZATION SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF NOT, THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, THE BOARD SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. ANNUAL DISCLOSURE IS REQUIRED, AND THE CONFLICT OF INTEREST POLICY INCLUDES A DUTY TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY INDIVIDUAL THAT MEETS THE INTERNAL REVENUE SERVICE DEFINITION OF TOP MANAGEMENT OFFICIAL, OFFICER, OR KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 590,267. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 590,267.