2025-07-30T13:59:07-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2024-01-01 363696608 KENWOOD AREA HOUSING INC C/O EMBRACE LIVING COMMUNITIES KENW 6305218021 1900 SPRING RD STE 450 OAK BROOK IL 60523 RALPH GAINES PRESIDENT AND CEO 6305218021 2025-07-29 1 1 KAREN A SCHAEFER P00545171 3125085900 2025-07-25 2024 2025-03-06 01:10:19Z X RALPH GAINES 1900 SPRING ROAD SUITE 450 OAK BROOK IL 605231480 1195570 0 X WWW.EMBRACELIVING.ORG X 1989 IL TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 8 7 0 4 0 0 0 0 1095234 1192491 397 263 7548 2816 1103179 1195570 0 0 0 0 411388 413640 0 0 0 832221 883977 1243609 1297617 -140430 -102047 1405213 1438124 71731 206689 1333482 1231435 TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE, WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 0 0 1215180 1195103 KENWOOD AREA HOUSING WAS FORMED IN 1989 AS A NONPROFIT CORPORATION UNDER THE STATE OF ILLINOIS FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT FOR THE ELDERLY AS DEFINED IN SECTION 202 OF THE HOUSING ACT OF 1959. IT OPERATES 60 UNITS BUILDING. 1215180 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 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 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X EMBRACE LIVING COMMUNITIES 6305218021 1900 SPRING ROAD SUITE 450 OAK BROOK IL 60523 SCOTT MEYER CHAIRMAN 0.20 X 0 0 0 RUTH CARLSON DIRECTOR 0.20 X 0 0 0 KAREN-LATIMER-HORSTHEAKE DIRECTOR 0.20 X 0 0 0 TONYA PITTS DIRECTOR 0.20 X 0 0 0 IRV WOODS DIRECTOR 0.20 X 0 0 0 ROBERT GAMRATH DIRECTOR 0.20 X 0 0 0 J PAUL BERTSCHE DIRECTOR 0.20 X 0 0 0 RALPH GAINES PRESIDENT & CEO 0.20 39.80 X 0 371596 50615 ANNE M OLIVA EXECUTIVE VICE PRESIDENT & CEO 1.00 40.00 X 0 214166 22837 GARY ADAMS DIRECTOR OF OPERATIONS 0.20 39.80 X 0 116071 29254 ALINA SERBAN CHIEF OF STAFF 1.00 40.00 X 0 101464 38357 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 1.00 40.00 X 0 119654 40480 DAWN ZENKNER CONTROLLER 0.20 39.80 X 0 112421 38818 ED HAVLOVIC DIRECTOR OF PLANT OPERATIO 1.00 40.00 X 0 106816 27750 0 1142188 248111 0 0 1 0 AMERICAN SECURITY GUARD SERVICES INC 1515 S HARLEM AVE FOREST PARK IL 60130 SECURITY GUARD 234640 TK ELEVATOR 3100 INTERSTATE NORTH CIR SE STE 5 ATLANTA GA 30339 ELEVATOR REPAIRS 137555 2 TENANT ASSISTANCE PAYM 531110 953400 953400 RENTAL REVENUE 531110 239091 239091 1192491 263 263 LAUNDRY REVENUE 531110 2397 2397 TENANT CHARGES 531110 125 125 294 294 2816 1195570 1195570 0 0 306463 306463 80558 80558 26619 26619 64380 64380 3744 3744 18057 18057 112 112 24001 24001 361215 361215 186 186 4657 4657 148689 148689 48450 48450 CONTRACTS 153225 153225 SUPPLIES 33889 33889 SUPPORTIVE SERVICES 10900 10900 OTHER RENTING EXPENSE 4799 4799 7673 7673 1297617 1215180 82437 0 3322 5492 95148 26001 20430 29625 4804479 3750538 952179 1053941 334134 323065 1405213 1438124 45705 178160 26026 28529 71731 206689 X -3278376 -3380423 4611858 4611858 1333482 1231435 1405213 1438124 -102047 0 X 0 1 X 1 1 1 X 1021812 1045720 1058098 1095234 1192491 5413355 1021812 1045720 1058098 1095234 1192491 5413355 5413355 670 213 234 397 263 1777 3542 14563 2240 7548 2816 30709 5445841 0.99400 0.99180 X 0.99170 54117 54117 4020874 3446297 574577 689988 264741 425247 39500 39500 0 1053941 TENANT SECURITY DEPOSITS 18678 RESERVE FOR INSURANCE 23144 RESERVE FOR REPLACEMENT 254458 OTHER RESTRICTED DEPOSITS 26785 323065 TENANT SECURITY DEPOSITS 18414 ACCRUED PAYROLL 10115 28529 X 1195570 0 1195570 0 1195570 1297617 0 1297617 0 1297617 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2024. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE ("IRS") AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2021 REMAIN OPEN. X X X 0 0 0 0 0 0 0 0 0 RALPH GAINES PRESIDENT & CEO 0 371596 0 0 0 0 0 0 0 50615 0 422211 0 0 ANNE M OLIVA EXECUTIVE VICE PRESIDENT & CEO 0 214166 0 0 0 0 0 0 0 22837 0 237003 0 0 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 0 119654 0 0 0 0 0 0 0 40480 0 160134 0 0 DAWN ZENKNER CONTROLLER 0 112421 0 0 0 0 0 0 0 38818 0 151239 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS OF EMBRACE LIVING COMMUNITIES AND AFFILIATES APPOINTS THE PRESIDENT & CEO AND THE CFO AND DETERMINES THEIR COMPENSATION. THE METHOD USED TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT & CEO AND THE CFO, RECEIVED FROM RELATED ORGANIZATIONS, INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER SIMILAR ORGANIZATIONS. THE PROCESS INCLUDES A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY AND/OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO ITS SUBMISSION, FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE DEPARTMENT. IT IS THEN PRESENTED TO THE PRESIDENT AND THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. TO ENSURE COMPLIANCE WITH THIS POLICY, THE ORGANIZATION REQUIRES THE FOLLOWING: ON AN ANNUAL BASIS, ALL MEMBERS OF THE BOARD OF DIRECTORS, THE EXECUTIVE LEADERSHIP TEAM, MEMBERS OF SENIOR MANAGEMENT, AND EMPLOYEES WITH PURCHASING AND/OR HIRING RESPONSIBILITIES OR AUTHORITY SHALL INFORM, IN WRITING, THE CHAIRMAN OF THE BOARD, THE CHAIR OF THE FINANCE/AUDIT COMMITTEE, AND THE ORGANIZATION'S EXECUTIVE LEADERSHIP TEAM OF ALL REPORTABLE CONFLICTS. PRIOR TO THE PREPARATION OF THE DISCLOSURE STATEMENTS, THE FINANCE DEPARTMENT SHALL DISTRIBUTE A LIST OF ALL VENDORS WITH WHOM THE ORGANIZATION HAS TRANSACTED BUSINESS AT ANY TIME DURING THE PRECEDING YEAR, ALONG WITH A COPY OF THE DISCLOSURE STATEMENT. THE EXECUTIVE LEADERSHIP TEAM SHALL REVIEW ALL FORMS COMPLETED BY EMPLOYEES, AND THE FINANCE/AUDIT COMMITTEE CHAIRMAN OF THE BOARD SHALL REVIEW ALL COMPLETED FORMS AND DETERMINE APPROPRIATE RESOLUTION IN ACCORDANCE WITH THE NEXT SECTION OF THIS POLICY. IF A CONFLICT ARISES DURING THE YEAR, THE EMPLOYEE OR BOARD MEMBER WILL IMMEDIATELY NOTIFY THE EXECUTIVE LEADERSHIP TEAM WHO WILL DETERMINE APPROPRIATE RESOLUTION. ALL REAL OR APPARENT CONFLICTS OF INTEREST SHALL BE DISCLOSED TO THE FINANCE/AUDIT COMMITTEE CHAIRMAN OF THE BOARD AND THE EXECUTIVE LEADERSHIP TEAM OF THE ORGANIZATION. CONFLICTS SHALL BE RESOLVED AS FOLLOWS: THE CHAIR OF THE FINANCE/AUDIT COMMITTEE SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING THE BOARD OF DIRECTORS AND THE EXECUTIVE LEADERSHIP TEAM. THE CHAIRMAN OF THE BOARD SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING FINANCE/AUDIT COMMITTEE MEMBERS. THE EXECUTIVE LEADERSHIP TEAM SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING EMPLOYEES BELOW THE SENIOR MANAGEMENT LEVEL, SUBJECT TO THE APPROVAL OF THE FINANCE/AUDIT COMMITTEE. AN EMPLOYEE OR DIRECTOR MAY APPEAL THE DECISION THAT A CONFLICT, OR APPEARANCE OF CONFLICT, EXISTS AS FOLLOWS: *AN APPEAL MUST BE DIRECTED TO THE CHAIR OF THE BOARD. *APPEALS MUST BE MADE WITHIN 30 DAYS OF THE INITIAL DETERMINATION. *RESOLUTION OF THE APPEAL SHALL BE MADE BY VOTE OF THE FULL BOARD OF DIRECTORS. *BOARD MEMBERS WHO ARE THE SUBJECT OF THE APPEAL, OR WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE SUBJECT OF THE APPEAL, SHALL ABSTAIN FROM PARTICIPATING IN, DISCUSSING, OR VOTING ON THE RESOLUTION, UNLESS THEIR DISCUSSION IS REQUESTED BY THE REMAINING MEMBERS OF THE BOARD. FAILURE TO COMPLY WITH THE STANDARDS CONTAINED IN THIS POLICY WILL RESULT IN DISCIPLINARY ACTION THAT MAY INCLUDE TERMINATION, REFERRAL FOR CRIMINAL PROSECUTION, AND REIMBURSEMENT TO THE ORGANIZATION OR TO THE GOVERNMENT, FOR ANY LOSS OR DAMAGE RESULTING FROM THE VIOLATION. AS WITH ALL MATTERS INVOLVING DISCIPLINARY ACTION, PRINCIPLES OF FAIRNESS WILL APPLY. ANY EMPLOYEE CHARGED WITH A VIOLATION OF THIS POLICY WILL BE AFFORDED AN OPPORTUNITY TO EXPLAIN HIS/HER ACTIONS BEFORE DISCIPLINARY ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEES ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC. AND EMBRACE LIVING COMMUNITIES. ALL FORMS, INCLUDING W-2'S AND REPORTS, ARE ISSUED UNDER THE EIN OF GROUP MANAGEMENT SERVICES, INC. 34-1707723. THE REPORTING ORGANIZATION REIMBURSES EMBRACE LIVING COMMUNITIES FOR ALL EMPLOYEE COMPENSATION EXPENSES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ALSO CAN BE FOUND ON THE INTERNET IN WEB SITES FOR NOTFORPROFIT ORGANIZATIONS LIKE WWW.GUIDESTAR.COM. MANAGEMENT EMBRACE LIVING COMMUNITIES, A NOTFORPROFIT CORPORATION, IS THE MANAGING AGENT AND RECEIVES MANAGEMENT FEES AS A PERCENTAGE OF THE GROSS RENTS, INCLUDING RENTAL SUBSIDIES AND OTHER INCOME UNDER TERMS OF A MANAGEMENT AGREEMENT APPROVED BY HUD. THE MANAGING AGENT IS RESPONSIBLE FOR THE DAY TO DAY ACTIVITIES OF THE ORGANIZATION SUCH AS MAINTAINING THE BUILDING, RESIDENT SUPPORT, HIRING AND SUPERVISING THE EMPLOYEES. IT ALSO PROVIDES ALL THE NECESSARY BOOKKEEPING AND ACCOUNTING SERVICES AND SUBMITS ALL THE REQUIRED FINANCIAL REPORTS. ALL DECISIONS AND REPORTS ARE PRESENTED AND DISCUSSED WITH THE BOARD OF DIRECTORS AND APPROVED BY THE BOARD OF DIRECTORS. OFFICER COMPENSATION OFFICERS OF EMBRACE LIVING COMMUNITIES (THE MANAGEMENT AGENT) ALSO SERVE AS OFFICERS OF THE REPORTING ORGANIZATION. THEY ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC AND EMBRACE LIVING COMMUNITIES. THEIR COMPENSATION IS PAID BY EMBRACE LIVING COMMUNITIES FROM THE MANAGEMENT FEES FROM THE REPORTING CORPORATION AND ALL OTHER AFFILIATED CORPORATIONS. 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