2022-10-26T08:47:17-05:00 2021-12-31 221478099 COHNREZNICK LLP 10 FORBES ROAD SUITE 200 BRAINTREE MA 02184 990 2021-01-01 042679926 BRIGHTON ALLSTON ELDERLY HOMES INC BRIG 7818490011 CO CORCORAN MGMT 100 GRANDVIEW RD BRAINTREE MA 02184 KAREN SMITH PRESIDENT 7818490011 2022-10-25 1 KAREN SMITH 999009999 JOLANTA TUCK CPA P01340068 7813803520 2022-10-20 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z KAREN SMITH C/O CORCORAN MGMT 100 GRANDVIEW RD BRAINTREE MA 02184 6270211 0 X N/A X 1978 MA THE ORGANIZATION'S MISSION IS TO PROVIDE EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS, TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 9 9 0 0 0 0 1721598 2184476 298284 306303 2544 118464 5390 7766 2027816 2617009 0 0 0 0 0 0 0 0 0 1668873 1885479 1668873 1885479 358943 731530 22124990 22284970 21306926 20766392 818064 1518578 THE ORGANIZATION'S MISSION IS TO PROVIDE EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS, TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 0 0 1687628 314069 PROVIDED EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 1687628 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 9 9 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 MA X CORCORAN MANAGEMENT CO INC 7818490014 100 GRANDVIEW ROAD SUITE 207 BRAINTREE MA 02184 X KAREN SMITH PRESIDENT 1.00 X X 0 0 0 ROBERT MARSHALL TREASURER 1.00 X X 0 0 0 JAMES GIBBONS CLERK 1.00 X X 0 0 0 WILLIAM CORRIGAN DIRECTOR 1.00 X 0 0 0 JANE MCHALE DIRECTOR 1.00 X 0 0 0 MARY DOLAN DIRECTOR 1.00 X 0 0 0 DAVID MCNAIR DIRECTOR 1.00 X 0 0 0 MILLIE HOLLUM-MCLAUGHLIN DIRECTOR 1.00 X 0 0 0 ANTHONY D'ISIDORO 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 & BOOKKEEPING SERVICES 427730 CNA CONSTRUCTION SERVICES INC 7 HERITAGE DRIVE LINCOLN RI 02865 RENOVATION SERVICES 128209 2 2184476 2184476 TENANT RENTAL INCOME 531110 306303 306303 306303 26340 26340 3745326 3653202 92124 92124 92124 LAUNDRY INCOME 531110 4482 4482 OTHER INCOME 900099 3284 3284 7766 2617009 314069 0 118464 X 173415 31063 142352 7304 7304 22392 22392 10902 10902 285378 285378 264 264 66743 51842 14901 1168368 1168368 150713 150713 1885479 1687628 197851 0 18725276 4526810 305 106981 150675 5568208 4012810 1580613 1555398 14207563 1712120 1844219 22124990 22284970 267581 117088 8169 6289 21313 21152 21009786 20621786 77 77 21306926 20766392 X 818064 1518578 818064 1518578 22124990 22284970 731530 -31016 0 X 0 1 X 1 1 1 X 1596040 1663543 1692226 1721598 2184476 8857883 358717 263395 296194 298284 306303 1522893 1954757 1926938 1988420 2019882 2490779 10380776 0 0 0 10380776 541 1644 2431 2544 26340 33500 541 1644 2431 2544 26340 33500 14325 8074 7696 5390 7766 43251 1969623 1936656 1998547 2027816 2524885 10457527 0.99270 0.99480 0.00320 0.00080 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY INCOME - 2017 AMOUNT: $ 5,974. 2018 AMOUNT: $ 5,527. 2019 AMOUNT: $ 5,832. 2020 AMOUNT: $ 5,032. 2021 AMOUNT: $ 4,482. OTHER INCOME - 2017 AMOUNT: $ 8,351. 2018 AMOUNT: $ 2,547. 2019 AMOUNT: $ 1,864. 2020 AMOUNT: $ 358. 2021 AMOUNT: $ 3,284. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 256321 256321 4745313 3482966 1262347 64763 49584 15179 501811 480260 21551 1555398 TAX AND INSURANCE ESCROW 361968 RESERVE FOR REPLACEMENT 956009 TENANT SECURITY DEPOSIT ESCROW 23789 SPECIAL DEVELOPMENT ESCROW 44513 MORTGAGE INSURANCE PREMIUM ESCROW 15514 ESCROW RESERVE 442426 1844219 RESIDUAL RECEIPTS PAYABLE 77 77 2615711 -31016 40620 9604 2606107 10902 10902 2617009 1915197 40620 40620 1874577 10902 10902 1885479 PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS ON 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 $138,512, FOR THE YEAR ENDED DECEMBER 31, 2021 DUE TO CORCORAN MANAGEMENT COMPANY. THE MANAGEMENT FEE IS EQUAL TO 5.5% OF TOTAL GROSS COLLECTIONS. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR CORCORAN MANAGEMENT COMPANY. AS APPROVED BY HUD, ADDITIONAL MANAGEMENT FEES WERE INCURRED PER THE BETTER BUILDING CHALLENGE PROGRAM, EFFECTIVE JUNE 2014. THE ADDITIONAL FEES ARE EQUAL TO $4 PER UNIT PER MONTH. DURING THE YEAR ENDED DECEMBER 31, 2021, ADDITIONAL MANAGEMENT FEES OF $3,840 WERE INCURRED AND PAID. 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 19 THE 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 285,378. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 285,378.