OFFICE OF MORTGAGE SETTLEMENT: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- OFFICE OF MORTGAGE SETTLEMENT (EIN 45-4458511)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2019-12-12
- IRS object ID
- 201923469349301312
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-12-12T15:31:48-06:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 561743537 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LANGDON & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 223 US HIGHWAY 70 EAST SUITE 100 | AddressLine1Txt |
| City | GARNER | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 275294051 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 454458511 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OFFICE OF MORTGAGE SETTLEMENT | BusinessNameLine1Txt |
| Business Name Line2 | OVERSIGHT | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | OFFI | BusinessNameControlTxt |
| Phone | 9197836400 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 FAYETTEVILLE STREET SUITE 1900 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27601 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPH A SMITH JR | PersonNm |
| Person Title | PRES. & BOARD CHAIR | PersonTitleTxt |
| Phone | 9198254748 | PhoneNum |
| Signature | 2019-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ANTHONY T PANDISCIA | PreparerPersonNm |
| PTIN | P00187421 | PTIN |
| Phone | 9196621001 | PhoneNum |
| Preparation | 2019-11-27 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 12.105.62.70 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-11-27 | IPDt |
| IP Tm | 11:32:53 | IPTm |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 871E0C94F70976A4E9FE63D04D026D4F1CDD97AD | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | AF3FDBDD0516B2502FB466EC929A7BEC979D7781 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-04-17 16:48:07Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Final Return | Yes (X) | FinalReturnInd |
| Principal Officer | JOSEPH A SMITH JR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 FAYETTEVILLE STREET STE 1900 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $827,476 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2012 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | FORM 990, PART I, LINE 1 AND PART III, LINES 1 AND 4A: JOSEPH A. SMITH, JR. FORMED THE OFFICE OF MORTGAGE SETTLEMENT OVERSIGHT (OMSO), A NON-FOR-PROFIT CORPORATION, TO HELP HIM CARRY OUT HIS DUTIES AS MONITOR (THE MONITOR) OF THE NATIONAL MORTGAGE SETTLEMENT. THE MONITOR'S PRIMARY TASKS ARE TO DETERMINE WHETHER THE SERVICERS ARE IN COMPLIANCE WITH THE MORTGAGE SERVICING STANDARDS AND CONSUMER RELIEF REQUIREMENTS AS SET FORTH IN THE CONSENT JUDGMENTS THAT COMPRISE THE SETTLEMENT. OMSO ASSISTS THE MONITOR WITH FUNCTIONS RELATED TO THE BUSINESS OF BEING THE MONITOR, INCLUDING MANAGING THE OMSO BUDGET, CONTRACTING WITH CONSULTANTS AND PROFESSIONAL FIRMS, HIRING EMPLOYEES AND MAINTAINING BOOKS AND RECORDS. REFERENCE CAN BE FOUND AT UNC LAW SCHOOL NATIONAL MORTGAGE SETTLEMENTS DIGITAL ARCHIVE AT: HTTPS://SCHOLARSHIP.LAW.UNC.EDU/MORTGAGE-SETTLEMENTS. | ActivityOrMissionDesc |
| Contract Termination | Yes (X) | ContractTerminationInd |
| Voting Members Governing Body | 1 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 0 | VotingMembersIndependentCnt |
| Total Employee | 2 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $8,425,577 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $826,916 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,447 | PYInvestmentIncomeAmt |
| CY Investment Income | $560 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $8,429,024 | PYTotalRevenueAmt |
| CY Total Revenue | $827,476 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $52,468 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $733,360 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $357,971 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,928,297 | PYOtherExpensesAmt |
| CY Other Expenses | $7,268,565 | CYOtherExpensesAmt |
| PY Total Expenses | $10,661,657 | PYTotalExpensesAmt |
| CY Total Expenses | $7,679,004 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,232,633 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$6,851,528 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,464,375 | TotalAssetsBOYAmt |
| Total Assets EOY | $0 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,406,293 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,058,082 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $0 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | FORM 990, PART I, LINE 1 AND PART III, LINES 1 AND 4A: JOSEPH A. SMITH, JR. FORMED THE OFFICE OF MORTGAGE SETTLEMENT OVERSIGHT (OMSO), A NON-FOR-PROFIT CORPORATION, TO HELP HIM CARRY OUT HIS DUTIES AS MONITOR (THE MONITOR) OF THE NATIONAL MORTGAGE SETTLEMENT. THE MONITOR'S PRIMARY TASKS ARE TO DETERMINE WHETHER THE SERVICERS ARE IN COMPLIANCE WITH THE MORTGAGE SERVICING STANDARDS AND CONSUMER RELIEF REQUIREMENTS AS SET FORTH IN THE CONSENT JUDGMENTS THAT COMPRISE THE SETTLEMENT. OMSO ASSISTS THE MONITOR WITH FUNCTIONS RELATED TO THE BUSINESS OF BEING THE MONITOR, INCLUDING MANAGING THE OMSO BUDGET, CONTRACTING WITH CONSULTANTS AND PROFESSIONAL FIRMS, HIRING EMPLOYEES AND MAINTAINING BOOKS AND RECORDS. REFERENCE CAN BE FOUND AT UNC LAW SCHOOL NATIONAL MORTGAGE SETTLEMENTS DIGITAL ARCHIVE AT: HTTPS://SCHOLARSHIP.LAW.UNC.EDU/MORTGAGE-SETTLEMENTS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | Yes (true) | SignificantChangeInd |
| Expense | $623,829 | ExpenseAmt |
| Revenue | $826,916 | RevenueAmt |
| Desc | SEE DESCRIPTION NOTED ON SCHEDULE O. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $52,468 | ExpenseAmt |
| Grant | $52,468 | GrantAmt |
| Desc | RESIDUAL BALANCE OF NET ASSETS IN CASH THAT WAS APPROPRIATELY DISBURSED TO A PUBLIC CHARITY IN ACCORDANCE WITH THE ORGANIZATION'S BYLAWS UPON DISSOLUTION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $52,468 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $52,468 | TotalOtherProgSrvcGrantAmt |
| Total Program Service Expenses | $676,297 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | Yes (true) | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 11 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 2 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 1 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 0 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPH A SMITH JR | PersonNm |
| Phone | 9197836400 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 FAYETTEVILLE STREET STE 1900 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27601 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPH A SMITH JR | PersonNm |
| Title | PRES. & BOAR | TitleTxt |
| Average Hours Per Week | 1.00 | AverageHoursPerWeekRt |
| Individual Trustee Or Director | Yes (X) | IndividualTrusteeOrDirectorInd |
| Officer | Yes (X) | OfficerInd |
| Reportable Comp From Org | $325,000 | ReportableCompFromOrgAmt |
| Reportable Comp From Rltd Org | $0 | ReportableCompFromRltdOrgAmt |
| Other Compensation | $0 | OtherCompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $325,000 | TotalReportableCompFromOrgAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CROWE CHIZEK LLP | |||||
| PO BOX 145415 | CINCINNATI | OH | 45250 | COMP MONITORING | $3,073,143 |
| BDO USA LLP | |||||
| PO BOX 642743 | PITTSBURGH | PA | 152642743 | COMP MONITORING | $1,188,645 |
| POYNER SPRUILL LLP | |||||
| 301 FAYETTEVILLE STREET STE 1900 | RALEIGH | NC | 27601 | COMP MONITORING | $534,189 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SETTLEMENT INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $826,916 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $826,916 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $826,916 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $560 | TotalRevenueColumnAmt |
| Exclusion | $560 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $827,476 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $826,916 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $560 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,468 | TotalAmt |
| Program Services | $52,468 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $357,971 | TotalAmt |
| Management And General | $357,971 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,984,704 | TotalAmt |
| Program Services | $623,829 | ProgramServicesAmt |
| Management And General | $6,360,875 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $86,936 | TotalAmt |
| Management And General | $86,936 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,458 | TotalAmt |
| Management And General | $9,458 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,031 | TotalAmt |
| Management And General | $118,031 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| RENT | $64,246 | $64,246 |
| TELEPHONE | $3,090 | $3,090 |
| UTILITIES | $2,100 | $2,100 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,679,004 | TotalAmt |
| Program Services | $676,297 | ProgramServicesAmt |
| Management And General | $7,002,707 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,139,789 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $324,586 | BOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,464,375 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,406,293 | BOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,406,293 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,058,082 | BOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,058,082 | BOYAmt |
| EOY | $0 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,464,375 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$6,851,528 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$206,554 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEIGHBORHOOD REINVESTMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 999 N CAPITAL STREET NE SUITE 900 | AddressLine1Txt |
| City | WASHINGTON DC | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20002 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 521148078 | RecipientEIN |
| Cash Grant | $52,468 | CashGrantAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPH A SMITH JR | PersonNm |
| Title | PRES. & BOARD CHAIR | TitleTxt |
| Base Compensation Filing Org | $325,000 | BaseCompensationFilingOrgAmt |
| Total Compensation Filing Org | $325,000 | TotalCompensationFilingOrgAmt |
Schedule N IRS990ScheduleN
Liquidation Of Assets Table LiquidationOfAssetsTableGrp
Liquidation Of Assets Detail LiquidationOfAssetsDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets Distri Or Expnss Paid | CASH | AssetsDistriOrExpnssPaidDesc |
| Distribution | 2019-06-30 | DistributionDt |
| Fair Market Value Of Asset | $52,468 | FairMarketValueOfAssetAmt |
| EIN | 521148078 | EIN |
| Person | NEIGHBORHOOD REINVESTMENT CORP | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 999 N CAPITAL STREET NE SUITE 900 | AddressLine1Txt |
| City | WASHINGTON DC | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20002 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRC Section | 501(C)(3) | IRCSectionTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Director Of Successor | false | DirectorOfSuccessorInd |
| Employee Of Successor | false | EmployeeOfSuccessorInd |
| Owner Of Successor | false | OwnerOfSuccessorInd |
| Receive Compensation | false | ReceiveCompensationInd |
| Assets Distributed | Yes (true) | AssetsDistributedInd |
| Required To Notify AG | Yes (true) | RequiredToNotifyAGInd |
| Liabilities Paid | Yes (true) | LiabilitiesPaidInd |
| Bonds Outstanding | false | BondsOutstandingInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | FORM 990, PART I, LINE 1 AND PART III, LINES 1 AND 4A: JOSEPH A. SMITH, JR. FORMED THE OFFICE OF MORTGAGE SETTLEMENT OVERSIGHT (OMSO), A NON-FOR-PROFIT CORPORATION, TO HELP HIM CARRY OUT HIS DUTIES AS MONITOR (THE MONITOR) OF THE NATIONAL MORTGAGE SETTLEMENT. THE MONITOR'S PRIMARY TASKS ARE TO DETERMINE WHETHER THE SERVICERS ARE IN COMPLIANCE WITH THE MORTGAGE SERVICING STANDARDS AND CONSUMER RELIEF REQUIREMENTS AS SET FORTH IN THE CONSENT JUDGMENTS THAT COMPRISE THE SETTLEMENT. OMSO ASSISTS THE MONITOR WITH FUNCTIONS RELATED TO THE BUSINESS OF BEING THE MONITOR, INCLUDING MANAGING THE OMSO BUDGET, CONTRACTING WITH CONSULTANTS AND PROFESSIONAL FIRMS, HIRING EMPLOYEES AND MAINTAINING BOOKS AND RECORDS. REFERENCE CAN BE FOUND AT UNC LAW SCHOOL NATIONAL MORTGAGE SETTLEMENTS DIGITAL ARCHIVE AT: HTTPS://SCHOLARSHIP.LAW.UNC.EDU/MORTGAGE-SETTLEMENTS. |
| FORM 990 | WITH REGARD TO PAGE 1, ITEM J, "WEBSITE ADDRESS", INFORMATION FOR THE ORGANIZATION MAY BE OBTAINED AT THE FOLLOWING WEBSITE: HTTPS://SCHOLARSHIP.LAW.UNC.EDU/MORGAGE-SETTLEMENTS |
| FORM 990, PAGE 2, PART III, LINE 3 | THE ORGANIZATION HAS CEASED OPERATIONS AND EFFECTIVELY DISSOLVED IN ACCORDANCE WITH ITS BYLAWS AS OF THE END OF THE FISCAL YEAR 6/30/19. |
| FORM 990, PAGE 2, PART III, LINE 4D | RESIDUAL BALANCE OF NET ASSETS IN CASH THAT WAS APPROPRIATELY DISBURSED TO A PUBLIC CHARITY IN ACCORDANCE WITH THE ORGANIZATION'S BYLAWS UPON DISSOLUTION. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 HAS BEEN REVIEWED BY OUTSIDE COUNSEL AND THE ENTIRE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 12C | EACH DIRECTOR AND OFFICER IS REQUIRED ON AT LEAST AN ANNUAL BASIS TO DISCLOSE ANY KNOWN CONFLICTS. THE OMSO MANAGEMENT REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES THE POLICY. IN THE EVENT OF A POTENTIAL CONFLICT, THE DIRECTOR OR OFFICER WILL RECUSE HIMSELF/HERSELF FROM DELIBERATION AND VOTING ON THE ISSUE. |
| FORM 990, PAGE 6, PART VI, LINE 15A | AS PART OF THE CORPORATE GOVERANCE FOR THE OFFICE OF THE MORTGAGE SETTLEMENT OVERSIGHT ("OMSO"), THE BOARD OF DIRECTORS OF OMSO CONSULTS WITH ITS GENERAL COUNSEL, BROOKS, PIERCE, MCLENDON, HUMPHREY & LEONARD, L.L.P. AND PEARL, MEYER & PARTNERS LLC, AN INDEPENDENT EXECUTIVE COMPENSATION FIRM, TO ADVISE THEM ON THE REASONABLENESS OF PROPOSED COMPENSATION FOR ALL OFFICERS AND MEMBERS OF THE BOARD OF DIRECTORS. IN ADDITION, THE MONITOR'S COMPENSATION IS INCLUDED AS PART OF A BUDGET APPROVED BY A COMMITTEE CREATED UNDER THE SETTLEMENT. |
| FORM 990, PAGE 6, PART VI, LINE 15B | AS PART OF THE CORPORATE GOVERANCE FOR THE OFFICE OF THE MORTGAGE SETTLEMENT OVERSIGHT ("OMSO"), THE BOARD OF DIRECTORS OF OMSO CONSULTS WITH ITS GENERAL COUNSEL, BROOKS, PIERCE, MCLENDON, HUMPHREY & LEONARD, L.L.P. AND PEARL, MEYER AND PARTNERS LLC, AN INDEPENDENT EXECUTIVE COMPENSATION FIRM, TO ADVISE THEM ON THE REASONABLENESS OF PROPOSED COMPENSATION FOR ALL OFFICERS AND OTHER KEY EMPLOYEES (AS APPLICABLE). |
| FORM 990, PAGE 6, PART VI, LINE 19 | PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, FINANCIAL STATEMENTS AND ANNUAL REPORTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | PROFESSIONAL FEES 623,829 0 0 REIMBURSEMENT OF PREPAID FEES 0 6,360,875 0 TOTAL 623,829 6,360,875 0 |
| FORM 990, PART XI, LINE 9 | A WIND-DOWN ADJUSTMENT REPRESENTING -206,554 PREPAID EXPENSES FOR SERVICES TO BE PROVIDED BY 0 THIRD PARTY VENDORS SUBSEQUENT TO THE 0 ORGANIZATION'S EFFECTIVE DISSOLUTION DATE. 0 TOTAL -206,554 |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|
| OMSO OCWEN LLC | |||||||
| 301 FAYETTEVILLE STREET STE 1801 | RALEIGH | NC | 27601 | MONITORING | NC | $9 | N/A |
| OMSO ST LLC | |||||||
| 301 FAYETTEVILLE STREET STE 1801 | RALEIGH | NC | 27601 | MONITORING | NC | $75 | N/A |
| OMSO HSBC LLC | |||||||
| 301 FAYETTEVILLE STREET STE 1801 | RALEIGH | NC | 27601 | MONITORING | NC | $98 | N/A |
| NMS | |||||||
| 301 FAYETTEVILLE STREET ST 1801 | RALEIGH | NC | 27601 | MONOTROING | NC | $62 | N/A |