2022-10-13T04:37:36-05:00 2021-12-31 221478099 COHNREZNICK LLP 10 FORBES ROAD SUITE 200 BRAINTREE MA 02184 990 2021-01-01 042707590 HANOVER LEGION ELDERLY HOUSING CORPORATION HANO 7818490011 CO CORCORAN MGMT 100 GRANDVIEW RD BRAINTREE MA 02184 THOMAS BAILEY PRESIDENT 7818490011 2022-10-12 1 THOMAS BAILEY 999009999 JOLANTA TUCK CPA P01340068 7813803520 2022-10-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z THOMAS BAILEY C/O CORCORAN MGMT 100 GRANDVIEW RD BRAINTREE MA 02184 1134988 0 X N/A X 1979 MA THE ORGANIZATION'S MISSION IS TO PROVIDE SIXTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 6 6 0 0 0 0 771211 790465 317227 326532 5036 880 13250 17111 1106724 1134988 0 0 0 0 0 0 0 0 0 962261 1067932 962261 1067932 144463 67056 2572449 2587565 3080784 3028844 -508335 -441279 THE ORGANIZATION'S MISSION IS TO PROVIDE SIXTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 0 0 980685 330627 THE ORGANIZATION PROVIDES HOUSING FOR ELDERLY OR HANDICAPPED PERSONS WITH LOW INCOME TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 980685 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 MA X CORCORAN MANAGEMENT 7818490011 100 GRANDVIEW ROAD SUITE 207 BRAINTREE MA 02184 X THOMAS BAILEY PRESIDENT 1.00 X X 0 0 0 DOROTHY QUINN CLERK/TREASURER 1.00 X X 0 0 0 DONALD BUCKLEY DIRECTOR 1.00 X 0 0 0 DONNA D'AMORE HANNIGAN DIRECTOR 1.00 X 0 0 0 CHUCK MERRITT DIRECTOR 1.00 X 0 0 0 JOE SALVUCCI DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 CORCORAN MANAGEMENT COMPANY 100 GRANDVIEW ROAD SUITE 207 BRAINTREE MA 02184 MANAGEMENT SERVICES 292281 JOHN BEAN ROOFING PO BOX 925 HANOVER MA 02339 CONSTRUCTION SERVICES 215700 2 790465 790465 RENT INCOME TENANTS 531110 326532 326532 326532 880 880 COMCAST REVENUE 531110 13016 13016 LAUNDRY INCOME 531110 4045 4045 TENANT CHARGES 531110 50 50 17111 1134988 330627 0 13896 X 45454 45454 47 47 15753 15753 246827 246827 467 467 38235 19531 18704 629968 629968 83387 83387 ENTITY EXPENSE 7286 7286 LOSS DUE TO RECAPTURE 3 3 505 505 1067932 980685 87247 0 128222 129825 4681 35073 28871 4353554 2549407 1664284 1804147 740189 624722 2572449 2587565 131542 131840 1069 1061 26223 27881 2905654 2852060 16296 16002 3080784 3028844 X -508335 -441279 -508335 -441279 2572449 2587565 67056 0 X 0 1 X 1 1 1 X 732523 750857 758440 771211 790465 3803496 732523 750857 758440 771211 790465 3803496 3803496 6881 13857 14198 5036 880 40852 10252 4695 6436 13250 17111 51744 3896092 1555460 0.97620 0.97490 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LAUNDRY VENDING - 2017 AMOUNT: $ 3,951. 2018 AMOUNT: $ 3,661. 2019 AMOUNT: $ 3,590. 2020 AMOUNT: $ 3,936. 2021 AMOUNT: $ 4,045. TENANT CHARGES - 2017 AMOUNT: $ 940. 2018 AMOUNT: $ 175. 2019 AMOUNT: $ 508. 2020 AMOUNT: $ 410. 2021 AMOUNT: $ 50. COMCAST REVENUE - 2018 AMOUNT: $ 480. 2019 AMOUNT: $ 2,052. 2020 AMOUNT: $ 4,699. 2021 AMOUNT: $ 13,016. MISCELLANEOUS - 2017 AMOUNT: $ 5,361. 2018 AMOUNT: $ 379. 2019 AMOUNT: $ 286. 2020 AMOUNT: $ 4,205. 2021 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 445971 445971 3852062 2509208 1342854 43271 27949 15322 12250 12250 0 1804147 TAX AND INSURANCE ESCROW 108681 RESERVE FOR REPLACEMENT 469864 TENANT SECURITY DEPOSITS 30388 RESIDUAL RECEIPTS RESERVE 15789 624722 EXCESS PROJECT FUNDS 789 ACCRUED MORTGAGE INTEREST PAYABLE 15213 16002 1134988 0 1134988 0 1134988 1067932 0 1067932 0 1067932 PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS OF FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS, WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE. FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION INCURRED A MANAGEMENT FEE OF $45,454 FOR THE YEAR ENDED DECEMBER 31, 2021, DUE TO CORCORAN MANAGEMENT COMPANY. THE MANAGEMENT FEE IS EQUAL TO 4% OF EFFECTIVE RENTAL REVENUE. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY MASSHOUSING, THE CORPORATION OR CORCORAN MANAGEMENT COMPANY. FORM 990, PART VI, SECTION B, LINE 11B A FULL COPY OF THE FORM 990 IS PROVIDED TO THE BOARD BEFORE FILING. THE FORM 990 IS REVIEWED BY THE BOARD PRESIDENT BEFORE IT IS SIGNED. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE FORM 990 ARE MADE AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT CURRENTLY HAVE WRITTEN POLICIES RELATED TO CONFLICTS OF INTEREST, WHISTLEBLOWER PROTECTION OR DOCUMENT RETENTION AND DESTRUCTION. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 246,827. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 246,827.