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        <BookValueAmt>1727848</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>27583071</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>6235439</DepreciationAmt>
        <BookValueAmt>21347632</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>165737</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>72903</DepreciationAmt>
        <BookValueAmt>92834</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>2328340</OtherCostOrOtherBasisAmt>
        <BookValueAmt>2328340</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>25496654</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>ACCOUNTS PAYABLE - RELATED ORGANIZATIONS</Desc>
        <Amt>664691</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEPOSITS</Desc>
        <Amt>209848</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>874539</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>6207525</TotalRevEtcAuditedFinclStmtAmt>
      <OtherRevenueAmt>39365</OtherRevenueAmt>
      <RevenueNotReportedAmt>39365</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>6168160</RevenueSubtotalAmt>
      <OtherRevenuesNotIncludedAmt>2128979</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>2128979</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>8297139</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>5512942</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>39365</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>39365</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>5473577</ExpensesSubtotalAmt>
      <OtherExpensesNotIncludedAmt>577556</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>577556</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>6051133</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>AHNI, AHNI HOLDINGS AND GENEVA CORPORATION 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, 2015 AND 2014, 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, 2011 AND PRIOR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>COST OF SALES 39,365.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>ELIMINATED INTERCOMPANY REVENUES OF AUDIT REPORT CONSOLIDATED ENTITIES 515,205. GAIN ON SALE OF ASSETS 62,351. CHANGE IN NET ASSETS OF AHNI HOLDINGS 1,551,423.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>COST OF SALES 39,365.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>ELIMINATED INTERCOMPANY EXPENSES OF AUDIT REPORT CONSOLIDATED ENTITIES 515,205. GAIN ON SALE OF ASSETS 62,351.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
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      <SupplementalNonqualRtrPlanInd>1</SupplementalNonqualRtrPlanInd>
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      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ANNE GRUENEWALD</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>0</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>158933</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>20874</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>11768</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>0</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>284</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>0</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>191859</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JAMES A ERNST</PersonNm>
        <TitleTxt>FORMER FOUR OAKS PRESIDENT/CEO</TitleTxt>
        <BaseCompensationFilingOrgAmt>0</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>151118</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>5753</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>25317</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>0</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>5611</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>0</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>187799</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 4B</FormAndLineReferenceDesc>
        <ExplanationTxt>TWO INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN OF A RELATED ORGANZATION, FOUR OAKS FAMILY AND CHILDREN'S SERVICES, DURING THE CALENDAR YEAR 2014 WITH CONTRIBUTIONS AS FOLLOWS: JAMES A. ERNST - $20,667 ANNE GRUENEWALD - $7,000 THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON SCHEDULE J, PART II, COL (C).</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART II</FormAndLineReferenceDesc>
        <ExplanationTxt>JAMES A. ERNST IS A FORMER OFFICER OF AFFORDABLE HOUSING NETWORK INC ("AHNI") BY VIRTUE OF HIS FORMER POSITION AS THE PRESIDENT/CEO OF FOUR OAKS FAMILY AND CHILDREN'S SERVICES ("FOUR OAKS"), A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AHNI. IN MAY OF 2014, ANNE GRUENEWALD BECAME FOUR OAKS' NEW PRESIDENT/CEO AND MR. ERNST, THE FOUNDING PRESIDENT/CEO MOVED INTO A TRANSITIONAL ROLE MANAGING SPECIAL PROJECTS FOR AND AS AN EMPLOYEE OF FOUR OAKS THROUGH JUNE 30, 2015. FOR THE ENTIRE FISCAL YEAR ENDED JUNE 30, 2015 MS. GRUENEWALD SERVED AS PRESIDENT/CEO OF FOUR OAKS AND MR. ERNST SERVED IN THIS TRANSITIONAL ROLE. HOWEVER, NOTE THAT MR. ERNST'S CALENDAR YEAR 2014 COMPENSATION REPORTED IN FORM 990, PART VII AND SCH J INCLUDES A FIVE MONTH PERIOD DURING WHICH HE SERVED AND WAS COMPENSATED AS PRESIDENT/CEO OF FOUR OAKS AT 50 HOURS PER WEEK. MR. ERNST HAD NO ROLES OR RESPONSIBILITIES WITH REGARD TO AHNI DURING THE FISCAL YEAR ENDED JUNE 30, 2015. HE IS BEING LISTED AS A "FORMER" OFFICER ON AHNI'S FORM 990 SOLELY FOR THE PURPOSE OF COMPLIANCE WITH THE FORM 990 INSTRUCTIONS.</ExplanationTxt>
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        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>LINN COUNTY IOWA</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>426004338</BondIssuerEIN>
        <CUSIPNum>NONEAVAIL</CUSIPNum>
        <BondIssuedDt>2007-05-23</BondIssuedDt>
        <IssuePriceAmt>5200000</IssuePriceAmt>
        <PurposeDesc>ACQUISITION OF PROPERTY</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>LINN COUNTY IOWA</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>426004338</BondIssuerEIN>
        <CUSIPNum>NONEAVAIL</CUSIPNum>
        <BondIssuedDt>2009-09-23</BondIssuedDt>
        <IssuePriceAmt>6000000</IssuePriceAmt>
        <PurposeDesc>REHAB OF BUILDING CONSTRUCTION</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>CITY OF ELY IOWA</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>162057007</BondIssuerEIN>
        <CUSIPNum>NONEAVAIL</CUSIPNum>
        <BondIssuedDt>2003-03-14</BondIssuedDt>
        <IssuePriceAmt>4640000</IssuePriceAmt>
        <PurposeDesc>GENEVA CORP PROJECT</PurposeDesc>
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        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceedsAmt>5200000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>51343</IssuanceCostsFromProceedsAmt>
        <WorkingCapitalExpendituresAmt>41185</WorkingCapitalExpendituresAmt>
        <CapitalExpendituresAmt>5107472</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2007</SubstantialCompletionYr>
        <CurrentRefundingInd>0</CurrentRefundingInd>
        <AdvanceRefundingInd>0</AdvanceRefundingInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>B</BondReferenceCd>
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        <IssuanceCostsFromProceedsAmt>33603</IssuanceCostsFromProceedsAmt>
        <WorkingCapitalExpendituresAmt>73799</WorkingCapitalExpendituresAmt>
        <CapitalExpendituresAmt>5892598</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2012</SubstantialCompletionYr>
        <CurrentRefundingInd>0</CurrentRefundingInd>
        <AdvanceRefundingInd>0</AdvanceRefundingInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
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      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <TotalProceedsAmt>4640000</TotalProceedsAmt>
        <CapitalExpendituresAmt>4640000</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2005</SubstantialCompletionYr>
        <CurrentRefundingInd>1</CurrentRefundingInd>
        <AdvanceRefundingInd>0</AdvanceRefundingInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
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      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0.00000</PrivateBusUseByOthersPct>
        <PrivateBusConcerningUBIPct>0.00000</PrivateBusConcerningUBIPct>
        <TotalPrivateBusinessUsePct>0.00000</TotalPrivateBusinessUsePct>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
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      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>B</BondReferenceCd>
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        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
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        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0.00000</PrivateBusUseByOthersPct>
        <PrivateBusConcerningUBIPct>0.00000</PrivateBusConcerningUBIPct>
        <TotalPrivateBusinessUsePct>0.00000</TotalPrivateBusinessUsePct>
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        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>0</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>C</BondReferenceCd>
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        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>0</WrittenProcToMonitorReqsInd>
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      <TaxExemptBondsArbitrageGrp>
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        <ExceptionToRebateInd>1</ExceptionToRebateInd>
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        <VariableRateIssueInd>1</VariableRateIssueInd>
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        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>0</WrittenProcToMonitorReqsInd>
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      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <RealEstateResidentialGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>1</ContributionCnt>
        <NoncashContributionsRptF990Amt>1551423</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FMV</MethodOfDeterminingRevenuesTxt>
      </RealEstateResidentialGrp>
      <Form8283ReceivedCnt>0</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>0</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>0</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>0</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, COLUMN (B):</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>AHNI HAS A MANAGEMENT AGREEMENT IN PLACE BY WHICH AHNI PAYS A FEE TO FOUR OAKS FAMILY AND CHILDREN'S SERVICES FOR ADMINISTRATIVE MANAGEMENT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>FOUR OAKS FAMILY AND CHILDREN'S SERVICES IS THE SOLE MEMBER OF AHNI.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>FOUR OAKS, THE SOLE MEMBER OF AHNI, HAS THE POWER TO APPOINT THREE DIRECTORS, WHICH ARE THEN CONFIRMED BY THE AHNI BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>CERTAIN BOARD ACTIONS ARE SUBJECT TO MEMBER (FOUR OAKS) APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>JAMES A. ERNST, FORMER FOUR OAKS PRESIDENT/CEO, ANNE GRUENEWALD, PRESIDENT/CEO, AND TAMI GILLMORE, TOP FINANCIAL OFFICIAL ARE COMPENSATED BY FOUR OAKS FAMILY &amp; CHILDREN'S SERVICES, A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AHNI. JOE LOCK, EXECUTIVE DIRECTOR, AND RENIE NEUBERGER, EXECUTIVE DIRECTOR, ARE COMPENSATED BY AHNI, HOWEVER THEIR 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. MR. ERNST, 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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FROM 990, PART VII, SECTION A, LINE 15:</FormAndLineReferenceDesc>
        <ExplanationTxt>JAMES A. ERNST IS A FORMER OFFICER OF AFFORDABLE HOUSING NETWORK INC("AHNI") BY VIRTUE OF HIS FORMER POSITION AS THE PRESIDENT/CEO OF FOUR OAKS FAMILY &amp; CHILDREN'S SERVICES ("FOUR OAKS"), A RELATED TAX-EXEMPT ENTITY THAT IS THE SOLE MEMBER OF AHNI. IN MAY OF 2014, ANNE GRUENEWALD BECAME FOUR OAKS' NEW PRESIDENT/CEO AND MR. ERNST, THE FOUNDING PRESIDENT/CEO MOVED INTO A TRANSITIONAL ROLE MANAGING SPECIAL PROJECTS FOR AND AS AN EMPLOYEE OF FOUR OAKS THROUGH JUNE 30, 2015. FOR THE ENTIRE FISCAL YEAR ENDED JUNE 30, 2015 MS. GRUENEWALD SERVED AS PRESIDENT/CEO OF FOUR OAKS AND MR. ERNST SERVED IN THIS TRANSITIONAL ROLE. HOWEVER, NOTE THAT MR. ERNST'S CALENDAR YEAR 2014 COMPENSATION REPORTED IN FORM 990, PART VII AND SCH J INCLUDES A FIVE MONTH PERIOD DURING WHICH HE SERVED AND WAS COMPENSATED AS PRESIDENT/CEO OF FOUR OAKS AT 50 HOURS PER WEEK. MR. ERNST HAD NO ROLES OR RESPONSIBILITIES WITH REGARD TO AHNI DURING THE FISCAL YEAR ENDED JUNE 30, 2015. HE IS BEING LISTED AS A "FORMER" OFFICER ON AHNI'S FORM 990 SOLELY FOR THE PURPOSE OF COMPLIANCE WITH THE FORM 990 INSTRUCTIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN NET ASSETS OF AHNI HOLDINGS -1,551,423.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM PRIOR TAX YEARS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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          <AddressLine1Txt>5400 KIRKWOOD BLVD SW</AddressLine1Txt>
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          <ZIPCd>52404</ZIPCd>
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          <AddressLine1Txt>943 14TH AVENUE SE</AddressLine1Txt>
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          <AddressLine1Txt>5400 KIRKWOOD BLVD SW</AddressLine1Txt>
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        <OtherOrganizationName>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>BROWN APARTMENTS LP</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>D</TransactionTypeTxt>
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        <MethodOfAmountDeterminationTxt>WRITTEN AGREEMENT</MethodOfAmountDeterminationTxt>
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</Return>