2020-06-08T10:37:40-05:00 2019-12-31 043097400 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2019-01-01 042679926 BRIGHTON ALLSTON ELDERLY HOMES INC BRIG 7818490011 CO CORCORAN MGMT 100 GRANDVIEW RD BRAINTREE MA 02184 KAREN SMITH PRESIDENT 7818490011 2020-06-03 1 ALISON JOHNSON CPA P01526964 7813803520 2020-06-03 70.91.219.129 2020-06-03 12:46:55 ED P CB723D511B4361143C95584A8FE9F03509BC83C0 CB723D511B4361143C95584A8FE9F03509BC83C0 2019 2020-09-23 17:36:50Z KAREN SMITH 59 ALDIE ST ALLSTON MA 02134 1998547 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. 10 10 0 0 0 0 1663543 1692226 263395 296194 1644 2431 8074 7696 1936656 1998547 0 0 0 0 0 0 0 0 0 1508759 1632170 1508759 1632170 427897 366377 3357283 3351432 3264539 2892311 92744 459121 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 1486980 303890 PROVIDED EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS. 1486980 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 10 10 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 ELLEN SCOFIELD 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 396050 1 1692226 1692226 TENANT RENTAL INCOME 531110 296194 296194 296194 2431 2431 LAUNDRY & OTHER INCOME 531110 5832 5832 1864 1864 7696 1998547 303890 0 2431 X 183419 69758 113661 43 43 21980 21980 276149 276149 460 460 81709 72203 9506 863513 863513 192370 192370 12363 12363 RECAPTURE OF RESIDUAL R 55 55 109 109 1632170 1486980 145190 0 391925 499286 486 373 57935 58029 5168026 3669727 1660310 1498299 1246627 1295445 3357283 3351432 366809 309182 423 3935 21786 22202 2875499 2556915 22 77 3264539 2892311 X 92744 459121 92744 459121 3357283 3351432 366377 0 X 0 1 X 1 1 1 X 1182948 1208040 1596040 1663543 1692226 7342797 430256 448474 358717 263395 296194 1797036 1613204 1656514 1954757 1926938 1988420 9139833 0 0 0 9139833 526 516 541 1644 2431 5658 526 516 541 1644 2431 5658 35158 6496 14325 8074 7696 71749 1648888 1663526 1969623 1936656 1998547 9217240 0.99160 0.99050 0.00060 0.00040 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY INCOME - 2015 AMOUNT: $ 5,881. 2016 AMOUNT: $ 6,478. 2017 AMOUNT: $ 5,974. 2018 AMOUNT: $ 5,527. 2019 AMOUNT: $ 5,832. OTHER INCOME - 2015 AMOUNT: $ 28,781. 2016 AMOUNT: $ 18. 2017 AMOUNT: $ 8,351. 2018 AMOUNT: $ 2,547. 2019 AMOUNT: $ 1,864. TENANT CHARGES - 2015 AMOUNT: $ 496. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 256321 256321 3529163 2988991 540172 815968 239272 576696 64763 34404 30359 501811 407060 94751 1498299 TAX AND INSURANCE ESCROW 265082 RESERVE FOR REPLACEMENT 941398 TENANT SECURITY DEPOSIT ESCROW 22202 SPECIAL DEVELOPMENT ESCROW 44484 RESIDUAL RECEIPTS RESERVE 19827 MORTGAGE INSURANCE PREMIUM ESCROW 2452 1295445 RESIDUAL RECEIPTS PAYABLE 77 77 2026963 28416 28416 1998547 0 1998547 1660586 28416 28416 1632170 0 1632170 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 $109,821, FOR THE YEAR ENDED DECEMBER 31, 2019 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, 2019, ADDITIONAL MANAGEMENT FEES OF $3,840 WERE INCURRED AND PAID. FORM 990, PART VI, SECTION B, LINE 11B 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 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 276,149. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 276,149.