2018-05-15T16:51:59-05:00 2017-06-30 420714325 RSM US LLP 201 FIRST ST SE SUITE 800 CEDAR RAPIDS IA 52401 990 2016-07-01 208640691 AFFORDABLE HOUSING NETWORK INC AFFO 3193656247 5400 KIRKWOOD BOULEVARD SW CEDAR RAPIDS IA 52404 TAMI GILLMORE TOP FINANCIAL OFFICIAL 3193656247 2018-05-15 1 CARLEY UMSTEAD P00982177 3192985333 108.171.132.188 2018-05-15 09:04:34 CD P 656274256C426902BAE5426111F9E7B4E80C08A9 63F0EEB24C910906BC6653715CD0B4582F1A1648 2016 2021-01-29 14:40:06Z ANNE GRUENEWALD 5400 KIRKWOOD BOULEVARD SW CEDAR RAPIDS IA 52404 5945546 0 X WWW.AFFORDABLEHOUSINGNETWORK.ORG X 2007 IA TO PROVIDE AFFORDABLE HOUSING TO INDIVIDUALS AND FAMILIES IN NEED. 12 12 13 37 0 0 846635 663824 4130987 5043207 114401 -40131 314124 95585 5406147 5762485 0 0 0 0 1282296 1394658 0 0 0 5536594 4077774 6818890 5472432 -1412743 290053 27302953 27873584 19074740 19355318 8228213 8518266 TO PROVIDE AFFORDABLE HOUSING TO INDIVIDUALS AND FAMILIES IN NEED. 0 0 3756590 5043207 AFFORDABLE HOUSING RENTALS: AHNI OWNS 694 AFFORDABLE HOUSING RENTAL UNITS AND MANAGES 142 AFFORDABLE HOUSING RENTAL UNITS, FOR A TOTAL OF 836 RENTAL UNITS INTENDED TO BE RENTED TO INDIVIDUALS AND FAMILIES WITH LOW TO VERY LOW INCOME. INCOME BETWEEN 50% AND 80% OF AREA MEDIAN INCOME (AMI) IS "LOW INCOME AND INCOME BETWEEN 30% AND 50% OF AMI IS "VERY LOW INCOME." AHNI PROVIDES THE FOLLOWING SERVICES TO INSURE A STABLE AND CLEAN LIVING ENVIRONMENT: RENTAL AGENT SERVICES AND FACILITY MAINTENANCE. 1250373 0 NEIGHBORHOOD REVITALIZATION: AHNI OPERATES A NEIGHBORHOODREVITALIZATION PROJECT IN THE WELLINGTON HEIGHTS NEIGHBORHOOD OF CEDARRAPIDS DESIGNED TO REDUCE RENTAL DENSITY, INCREASE THE NUMBER OF HOMEOWNERS AND RETURN A NEIGHBORHOOD BACK TO THE MAJESTIC AND STABLE PLACEIT ONCE WAS. DURING THE FISCAL YEAR, AHNI ACQUIRED 20 PROPERTIES,CONSTRUCTED 0 PROPERTIES, AND COMPLETED REHABILITATION OF 2 PROPERTIESWHICH WERE OFFERED TO THE COMMUNITY AS IMPROVED RENTALS, RENT-TO-OWN,AND HOMES FOR SALE WITH THE ULTIMATE GOAL OF GUIDING CHILDREN ANDFAMILIES TO SUCCESSFUL OUTCOMES AND STRENGTHENING THE COMMUNITY. 5006963 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 41 0 1 13 1 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X SCOTT KRCHAK 3193640259 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 X KARL HOFFMAN BOARD CHAIR 2.00 X X 0 0 0 EMILY MEYER SECRETARY 1.00 X X 0 0 0 MARTY STOLL VICE CHAIR 1.00 X X 0 0 0 GARY BECKER BOARD PAST CHAIR 1.00 X X 0 0 0 RICHARD ALLEN DIRECTOR 1.00 X 0 0 0 SAM BERGUS DIRECTOR 1.00 X 0 0 0 EMILY FLOWERGARDEN DIRECTOR 1.00 X 0 0 0 TRAVIS KOLDER DIRECTOR 1.00 X 0 0 0 AMANDA LANGSTON DIRECTOR 1.00 X 0 0 0 KATHI MOSS UNTIL 012017 DIRECTOR 1.00 X 0 0 0 HUNTER SKOGMAN DIRECTOR 1.00 X 0 0 0 BLAINE SHAFFER DIRECTOR 1.00 X 0 0 0 JOE LOCK DIRECTOR 1.00 X 0 0 0 ANNE GRUENEWALD PRESIDENT 5.00 50.00 X 0 181281 37313 TAMI GILLMORE TOP FINANCIAL OFFICIAL 5.00 50.00 X 0 142060 21272 RENIE NEUBERGER EXECUTIVE DIRECTOR 50.00 X 91195 0 10054 JAMES A ERNST PROJECT MANAGER (SEE SCH. O) 0.00 30.00 X 0 121162 6205 91195 444503 74844 0 0 1 0 WOODRUFF CONSTRUCTION 501 GREENFIELD DR TIFFIN IA 52340 CONSTRUCTION 325747 THE WALDINGER CORPORATION 1255 STAMY RD HIAWATHA IA 52233 CONSTRUCTION 156745 AEC CONTRACTING INC 1401 MOUNT VERNON ROAD SE CEDAR RAPIDS IA 52401 CONSTRUCTION 150254 CONNERLEY CONSTRUCTION INC 5915 FOURTH STREET SW UNIT 151 CEDAR RAPIDS IA 52404 CONSTRUCTION 102057 4 624324 39500 663824 RENTAL INCOME 531110 4334336 4334336 AUXILIARY RENTAL INCOM 531390 569514 569514 AFFILIATE SERVICES 531310 139357 139357 5043207 4601 4601 117626 162358 -44732 -44732 -44732 17088 20703 -3615 -3615 FORGIVABLE LOAN PROGRA 531390 99200 99200 99200 5762485 5043207 0 55454 100102 90092 10010 1097427 942593 154834 10261 10261 164396 107473 56923 22472 10456 12016 304545 297253 7292 50565 29795 20770 70020 68220 1800 9485 9485 2466 1488 978 46655 46589 66 16671 16671 644497 644497 111877 111877 744 744 592390 563811 28579 1058248 1058248 158415 158415 REPAIRS AND MAINTENANCE 472579 467208 5371 REHAB COSTS OVER FMV 339107 339107 STAFF DEVELOPMENT 9344 2390 6954 190166 31034 159132 5472432 5006963 465469 0 1767139 1555624 348129 395716 130374 130374 14531 0 61888 77365 32777257 7968303 23792417 24808954 171441 171441 604286 423000 412748 311110 27302953 27873584 495536 515477 11516476 10986955 4725230 5385242 1484956 1401662 852542 1065982 19074740 19355318 X 8228213 8518266 8228213 8518266 27302953 27873584 290053 0 X X 0 1 X 1 1 1 X 3463911 1995438 3211600 846635 663824 10181408 2783526 3778772 4674153 4130987 5043207 20410645 21509 33918 27377 17088 99892 6247437 5795719 7919671 5004999 5724119 30691945 2765755 1821037 2626423 300000 9500 7522715 0 2765755 1821037 2626423 300000 9500 7522715 23169230 8753 8558 2116 2759 4601 26787 8753 8558 2116 2759 4601 26787 569348 767543 352366 328721 99200 2117178 6825538 6571820 8274153 5336479 5827920 32835910 0.70560 0.68130 0.00080 0.00090 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: STATE HISTORICAL TAX CREDIT - 2012 AMOUNT: $ 569,348. FORGIVEABLE LOAN PROGRAM - 2013 AMOUNT: $ 767,543. 2014 AMOUNT: $ 352,366. 2015 AMOUNT: $ 328,721. 2016 AMOUNT: $ 99,200. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2143078 2143078 29821497 7831499 21989998 245555 136659 108896 567127 145 566982 24808954 ACCOUNTS PAYABLE - RELATED ORGANIZATIONS 837484 DEPOSITS 228498 1065982 X 5827920 20703 20703 5807217 -44732 -44732 5762485 5537867 20703 20703 5517164 -44732 -44732 5472432 PART X, LINE 2: AHNI AND AHNI HOLDINGS ARE RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THESE AGENCIES MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY NET INCOME FROM UNRELATED BUSINESS ACTIVITIES. THESE AGENCIES FILE FORMS 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY AND UNRELATED BUSINESS INCOME (UBI) IS REPORTED ON FORM 990-T, AS APPROPRIATE. AHNI PROPERTIES, INC. IS A TAXABLE CORPORATION UNDER THE INTERNAL REVENUE CODE REGULATIONS. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS, WHICH INCLUDE SUCH MATTERS AS THE TAX EXEMPT STATUS AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UBI. AS OF JUNE 30, 2017 AND 2016, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. FORMS 990 FILED BY AHNI ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED JUNE 30, 2013 AND PRIOR. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 20,703. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS -44,732. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 20,703. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS -44,732. 0 1 0 0 0 0 0 0 0 ANNE GRUENEWALD PRESIDENT 0 159589 0 0 0 21692 0 33290 0 4023 0 218594 0 0 TAMI GILLMORE TOP FINANCIAL OFFICIAL 0 142060 0 0 0 0 0 2907 0 18365 0 163332 0 0 PART I, LINE 3 COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED BY FOUR OAKS FAMILY AND CHILDREN'S SERVICES, A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AFFORDABLE HOUSING NETWORK INC. METHODS USED IN ESTABLISHING COMPENSATION INCLUDE: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY, AND - APPROVAL BY THE FOUR OAKS EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. SEE SCHEDULE O, IN RESPONSE TO FORM 990, PART VI, SECTION B, LINE 15 FOR FURTHER EXPLANATION OF COMPENSATION SETTING PROCEDURES. PART I, LINE 4B ONE INDIVIDUAL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF A RELATED ORGANZATION, FOUR OAKS FAMILY AND CHILDREN'S SERVICES, DURING CALENDAR YEAR 2016 WITH CONTRIBUTIONS AS FOLLOWS: ANNE GRUENEWALD - $30,000 THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON SCHEDULE J, PART II, COL (C). ONE INDIVIDUAL RECEIVED PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF A RELATED ORGANIZATION, FOUR OAKS FAMILY AND CHILDREN'S SERVICES, DURING CALENDAR YEAR 2016 WITH PAYMENTS AS FOLLOWS: JAMES A. ERNST - $65,621 A LINN COUNTY IOWA 426004338 NONEAVAIL 2007-05-23 5200000 ACQUISITION OF PROPERTY 0 0 0 B LINN COUNTY IOWA 426004338 NONEAVAIL 2009-09-23 6000000 REHAB OF BUILDING CONSTRUCTION 0 0 0 C CITY OF ELY IOWA 162057007 NONEAVAIL 2003-03-14 4640000 GENEVA CORP PROJECT 0 0 0 A 5200000 51343 41185 5107472 2007 0 0 1 1 B 6000000 33603 73799 5892598 2012 0 0 1 1 C 4640000 4640000 2005 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 1 0 0 0 0 A 1 B 1 C 1 FORM 990, PART VI, SECTION A, LINE 3 AHNI HAS A MANAGEMENT AGREEMENT IN PLACE BY WHICH AHNI PAYS A FEE TO FOUR OAKS FAMILY AND CHILDREN'S SERVICES FOR ADMINISTRATIVE MANAGEMENT. FORM 990, PART VI, SECTION A, LINE 6 FOUR OAKS FAMILY AND CHILDREN'S SERVICES IS THE SOLE MEMBER OF AHNI. FORM 990, PART VI, SECTION A, LINE 7A FOUR OAKS, THE SOLE MEMBER OF AHNI, HAS THE POWER TO APPOINT THREE DIRECTORS, WHICH ARE THEN CONFIRMED BY THE AHNI BOARD. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN BOARD ACTIONS ARE SUBJECT TO MEMBER (FOUR OAKS) APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE TAX PREPARER REVIEWS THE FORM 990 IN DRAFT FORM WITH THE EXECUTIVE DIRECTOR, TOP FINANCIAL OFFICIAL, AND COMMITTEE RESPONSIBLE FOR REVIEW OF THE FORM 990. ALL QUESTIONS AND CONCERNS ARE ADDRESSED TO FULL SATISFACTION BEFORE BECOMING FINAL. THE FINAL FORM 990 IS PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL OFFICERS, DIRECTORS, AND EMPLOYEES TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY AS WELL AS REPORT ANY DUALITY OF INTEREST AS SOON AS THE INTEREST OCCURS. WHEN HIRING INDEPENDENT CONTRACTORS FOR MAJOR PROJECTS, THE ORGANIZATION SENDS REQUESTS FOR PROPOSAL ("RFPS.") FOR MAJOR RECURRING SERVICE CONTRACTS, RFPS ARE DONE EVERY 3-5 YEARS OR MARKET RATES ARE REVIEWED BY MANAGEMENT TO ENSURE THAT THE TERMS FOR RENEWING THE CONTRACT ARE STILL AT COMPETITIVE MARKET RATES. THROUGHOUT THE PROCESS, ANY INTERESTED BOARD MEMBERS AND/OR COMMITTEE MEMBERS MUST ABSTAIN FROM THE DISCUSSION AND THE SELECTION OF A CONTRACTOR. WHERE MAJOR CONFLICTS EXISTS, THE BOARD MEMBER WILL EITHER RESIGN AS A BOARD MEMBER OR WITHDRAW HIS/HER FIRM FROM CONSIDERATION FOR THE CONTRACT. AS AN ADDITIONAL SAFEGUARD, MANAGEMENT REVIEWS VENDOR LISTS AND BOARD MEMBER LISTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 ANNE GRUENEWALD, PRESIDENT/CEO, AND TAMI GILLMORE, TOP FINANCIAL OFFICIAL ARE COMPENSATED BY FOUR OAKS FAMILY & CHILDREN'S SERVICES, A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AHNI. RENIE NEUBERGER, EXECUTIVE DIRECTOR, IS COMPENSATED BY AHNI, HOWEVER HER COMPENSATION IS ESTABLISHED BY FOUR OAKS. IN SETTING EXECUTIVE COMPENSATION, FOUR OAKS UTILIZES A COMPENSATION SETTING COMMITTEE, AN INDUSTRY SALARY SURVEY, AND A MARKET REVIEW AND COMPENSATION COMPARISON OBTAINED EVERY THREE YEARS FROM AN INDEPENDENT ACCOUNTING FIRM. FOUR OAKS RETAINS DOCUMENTATION WITH REGARD TO CRITERIA USED TO ARRIVE AT COMPENSATION FOR OFFICERS. MS. GRUENEWALD, AND MS. GILLMORE DO NOT RECEIVE ADDITIONAL COMPENSATION FOR THE SERVICES THEY PROVIDE TO AHNI. OTHER OFFICERS AND DIRECTORS SERVING ON THE AHNI BOARD ARE UNCOMPENSATED VOLUNTEERS. FORM 990, PART VI, SECTION B, LINE 10A AND 10B: AFFORDABLE HOUSING NETWORK, INC. MANAGES SEVERAL LOW INCOME RESIDENTIAL RENTAL PROPERTIES OF AFFILIATED ENTITIES PURSUANT TO WRITTEN MANAGEMENT AGREEMENTS. ANY AFFILIATED ENTITIES IN WHICH AFFORDABLE HOUSING NETWORK, INC. HAS THE PRESCRIBED AMOUNT OF DIRECT OR INDIRECT OWNERSHIP OR CONTROL ARE LISTED AS RELATED ORGANIZATIONS ON FORM 990, SCHEDULE R, AS APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FROM 990, PART VII, SECTION A, LINE 1A, (15): COMPENSATION REPORTED FOR JAMES A. ERNST INCLUDES $59,416 BASE SALARY AND $6,205 IN BENEFITS RELATED TO THE SERVICES HE PROVIDED DURING THE CURRENT YEAR AS PROJECT MANAGER FOR FOUR OAKS FAMILY AND CHILDREN'S SERVICES ("FOUR OAKS"), A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AFFORDABLE HOUSING NETWORK, INC. THE REMAINING $65,621 REPRESENTS A PAYOUT OF DEFERRED COMPENSATION HE EARNED IN PRIOR YEARS WHILE SERVING AS THE PRESIDENT/CEO OF FOUR OAKS. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM PRIOR TAX YEARS. FOUR OAKS FAMILY AND CHILDREN'S SERVICES 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 420998726 TREATMENT, COUNSELING, PREVENTION IA 501(C)(3) LINE 10 N/A 0 JANE BOYD COMMUNITY HOUSE 943 14TH AVENUE SE CEDAR RAPIDS IA 52401 420680359 INDIVIDUAL AND FAMILY SERVICES IA 501(C)(3) LINE 7 FOUR OAKS FAMILY AND CHILDREN'S SERVICES 0 AHNI HOLDINGS 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 271786138 LOW INCOME HOUSING IA 501(C)(3) LINE 12A, I AFFORDABLE HOUSING NETWORK INC 1 FAMILY RESOURCES INC 2800 EASTERN AVE DAVENPORT IA 52803 420698225 COUNSELING, FAMILY SERVICES IA 501(C)(3) LINE 7 FOUR OAKS FAMILY AND CHILDREN'S SERVICES 0 DAVENPORT FAMILY HOMES LTD 2800 EASTERN AVE DAVENPORT IA 52803 421179514 RENTAL IA 501(C)(2) FAMILY RESOURCES INC 0 BROWN APARTMENTS LP 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 261195327 LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AFFORDABLE HOUSING NETWORK INC RELATED -9 364752 0 1 0.00010 SUGAR CREEK BEND LLLP PO BOX 473 SPENCER IA 51301 270529358 LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AHNI PROPERTIES INC RELATED -9 43 0 1 0.00010 BLAIRS FERRY LIMITED PARTNERSHIP 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 421421298 LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AFFORDABLE HOUSING NETWORK INC RELATED -4766 291514 0 0 0.99990 3200 PIONEER LLLP (GENERAL INTEREST) 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 463879173 INACTIVE - LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AFFORDABLE HOUSING NETWORK INC RELATED 0 1 0.01000 3200 PIONEER LLLP (LIMITED INTEREST) 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 463879173 INACTIVE - LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AHNI HOLDINGS RELATED 0 0 0.99000 AHNI PROPERTIES INC 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 263756672 LOW INCOME RESIDENTIAL REAL ESTATE MANAGEMENT IA AFFORDABLE HOUSING NETWORK INC C -9 1.00000 1 HARBET AVENUE PROPERTIES INC 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 264520424 INACTIVE - LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AFFORDABLE HOUSING NETWORK INC C 1.00000 1 3200 PIONEER AVE SE LLC 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 371783665 INACTIVE - LOW INCOME RESIDENTIAL REAL ESTATE RENTAL IA AFFORDABLE HOUSING NETWORK INC C 1.00000 1 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 0 0 BLAIRS FERRY LIMITED PARTNERSHIP L 58870 CASH BROWN APARTMENTS LP D 345522 WRITTEN AGREEMENT