2021-10-27T12:08:39-05:00 2020-12-31 141731700 MICHAEL A TOBIN & ASSOCIATES CPA'S PC 40 BRITISH AMERICAN BLVD LATHAM NY 12110 990 2020-01-01 237120738 SOMALTOW HOUSING COMPANY INC SOMA 101 SOUTH PEARL STREET ALBANY NY 12207 GARY HALLOCK PRESIDENT 2021-10-20 true GARY HALLOCK 999009999 MICHAEL A TOBIN II P00248170 5187833100 2021-10-20 2020 2022-09-23 18:48:47Z GARY HALLOCK 101 SOUTH PEARL STREET ALBANY NY 12207 3430359 false X X 1971 NY TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES. 5 5 22 6 0 0 2727619 2710088 102638 59156 0 2830257 2769244 0 0 557464 627871 0 0 2937231 2984331 3494695 3612202 -664438 -842958 21976547 21217142 5687446 5608137 16289101 15609005 TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES. false false 3248189 2710088 TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES. 3248189 true false false false false false false false true false true false false true true true false false false false false false false false false false false false false false true false false false false false false false true true false false false false false false true true true false false true 10 0 22 true false false false false false false false false false false false false X 5 5 true false false false false false false true true false false true true true true true true false false false NY X KIMBERLY HANSEN WOODS 5184630294 101 SOUTH PEARL STREET ALBANY NY 12207 KIMBERLY HANSEN WOODS EXECUTIVE DI 40.00 X 110151 0 0 JOHN BISHOP DIRECTOR 1.00 X 0 0 0 MARCIA CHANDLER DIRECTOR 1.00 X 0 0 0 GARY HALLOCK PRESIDENT 1.00 X X 0 0 0 PETER MCKEE VICE PRESIDE 1.00 X X 0 0 0 JOHN SABURRO TREASURER 1.50 X X 0 0 0 ERIC SPRAGUE SECRETARY 1.00 X X 0 0 0 110151 1 false false false X RENTAL INCOME 2661535 2661535 LAUNDRY & VENDING FEES 18330 18330 MANAGEMENT FEES 13180 13180 AIR CONDITIONERS 10393 10393 SECURITY DEPOSITS FORFEITED 4894 4894 1756 1756 2710088 50731 50731 669540 661115 8425 8425 8425 2769244 2710088 59156 589402 464362 125040 -2311 -716 -1595 40780 32129 8651 45480 45480 75882 75882 13794 13794 15007 15007 722 722 48795 43916 4879 525007 523651 1356 58376 58376 154049 112962 41087 DEPRECIATION 1538130 1538130 MAINTENANCE & REPAIR MAT. 95755 95755 SERIES A FEES - 1.65% 74932 74932 COVID-19 EXPENSE 57604 57604 280798 246366 34432 3612202 3248189 364013 0 265372 318938 325113 412869 47136 59401 73316 91588 36217135 22085967 15403974 14131168 2625987 2806779 3235649 3396399 21976547 21217142 124276 204612 53101 66722 5820000 5620000 96418 96580 -406349 -379777 5687446 5608137 X 16289101 15609005 16289101 15609005 21976547 21217142 X -842958 162862 X X true X false true false X 571468 572586 453817 2727619 2710088 7035578 571468 572586 453817 2727619 2710088 7035578 7035578 52401 63553 55935 61905 50731 284525 52401 63553 55935 61905 50731 284525 623869 636139 509752 2789524 2760819 7320103 0.96110 0.94630 0.04000 0.05000 X false true X 303033 303033 35813589 22085967 13727622 100513 100513 14131168 INVESTMENT IN SUBSIDIARY 1660449 OPERATING RESERVE 1168260 OTHER RESTRICTED DEPOSITS 224042 REPLACEMENT RESERVE 223787 TENANT SECURITY DEPOSITS 96580 HUD EXCESS RENT ACCOUNT 10563 ACCRUED INTEREST RECEIVABLE 10465 INVESTMENT RATE CAP AGREEMENT 2054 DUE FROM PROJECT 199 3396399 UNAMORTIZED DEBT ISSUANCE COSTS -379777 -379777 X SCHEDULE D, PAGE 2, PART IV, LINE 2B TENANT SECURITY DEPOSITS SCHEDULE D, PAGE 3, PART X THE COMPANY ADOPTED FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE COMPANY HAS ANALYZED THE TAX POSITIONS TAKEN IN ITS FILINGS WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. THE COMPANY BELIEVES THAT IT'S INCOME TAX FILING POSITION WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE COMPANY'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE COMPANY HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2020. THE COMPANY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. A CITY OF ALBANY IDA SENIOR HOUSING 522015750 01244PAA6 2003-01-31 11890000 REHABILITATION OF BUILDING FACILITIES false false false A false false true true A false false false false false false false A false false false false false false false false false A false PURPOSE OF ISSUE DESCRIPTION CITY OF ALBANY IDA SENIOR HOUSING REHABILITATION OF BUILDING FACILITIES BISHOP BEAUDRY CONSTRUCTION LLC JOHN BISHOP IS 39171 CONSTRUCTION SERVICE false A BOARD MBR. false AND A PTR. IN false AN LLC WITH false HUSBAND OF false EXEC. DIRECTOR false DAUGHTER OF 110838 COMPENSATION false EXEC. DIRECTOR false FORM 990 ON JANUARY 3, 2019, THE ORGANIZATION PURCHASED THE RIGHT, TITLE AND INTEREST IN A LOW INCOME HOUSING PROJECT PREVIOUSLY OWNED BY SOUTH MALL TOWERS, L.P. (EIN - 01-0747926) FROM THE INVESTOR LIMITED PARTNERS OWNING 99.991% OF THE LIMITED PARTNERSHIP FOR APPROXIMATELY 1.7 MILLION AND ASSUMPTION OF LIABILITIES, COVENANTS AND OBLIGATIONS OF THE INVESTOR LIMITED PARTNERS. THE ORGANIZATION PREPARED CONSOLIDATED FINANCIAL STATEMENTS WITH THE LIMITED PARTNESHIP DUE THEIR CONTROLLING INTEREST IN THE LIMITED PARTNERSHIP. THE ORGANIZATION WILL BE TREATED AS A PARTNER IN A JOINT VENTURE FOR FEDERAL INCOME TAX PURPOSES AND HAS REPORTED THE ACTIVITIES OF THE PARTNERSHIP AS PART OF ITS OWN ACTIVITIES, AND HAS REPORTED THE LIMITED PARTNERSHIP'S REVENUE, EXPENSES AND ASSETS, TO THE EXTENT OF THE ORGANIZATIONS PROPORTIONATE INTEREST IN THE LIMITED PARTNERSHIP FOR 2020. FORM 990, PAGE 6, PART VI, LINE 2 BISHOP BEAUDRY CONSTRUCTION, LLC KIM HANSEN WOODS MEMBER EX. DIRECTOR WIFE- MEMBER IN BISHOP BEAUDRY FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT COPY OF THE FORM 990 WAS SENT TO THE TREASURER FOR HIS REVIEW AND COMMENTS PRIOR TO A REVIEW BY THE OTHER BOARD MEMBERS. A DRAFT COPY OF THE FORM 990 WAS THEN SENT TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO RESPOND TO AN ANNUAL QUESTIONNAIRE REGARDING ANY CONFLICTS OF INTEREST. ANY NOTED CONFLICTS ARE RESOLVED IN A TIMELY MANNER. COPIES OF THE QUESTIONNAIRE ARE MAINTAINED BY THE ORGANIZATION. ANY DIRECTOR OR OFFICER MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ARE REQUIRED TO RECUSE THEMSELVES FROM ANY DECISION ON MATTERS IN WHICH THEY HAVE AN INTEREST. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 EQUITY INTEREST IN SUBSIDIARY 0 FORM 990, PART XII THE ENTIRE BOARD OF DIRECTORS UNDER THE LEADERSHIP OF THE BOARD TREASURER ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE COMPILATION OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. SOUTH MALL TOWERS ALBANY LP 101 SOUTH PEARL STREET ALBANY NY 12207 010747926 RENTAL HSG NY N/A false false 0.99990 false false false false false false false false false false false false false false false false false false false