2015-11-13T13:04:42-06:00 2014-12-31 263874426 HOLDEN & COMPANY LLP 68 MITCHELL BLVD STE 240 SAN RAFAEL CA 949032060 990 2014-01-01 237071540 CONCORD HOMES INC CONC 9256871200 2020 GRANT STREET CONCORD CA 94520 DENNIS HORGAN PRESIDENT 9256871200 2015-11-12 true THOMAS J HOLDEN P00507742 4154724225 2015-11-12 X 2014 2016-03-07 17:11:31Z DENNIS HORGAN 2020 GRANT STREET CONCORD CA 94520 2493334 false X N/A X 1975 CA TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. 6 6 0 6 0 1176989 1121241 1181153 1222886 2662131 149207 0 5020273 2493334 0 0 465217 414786 0 0 1614953 1652776 2080170 2067562 2940103 425772 30131953 3720283 859421 6376896 29272532 -2656613 TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. false false 2043706 1222886 THE CORPORATION OWNS AND OPERATES AN APARTMENT COMPLEX, INCLUDING FOOD SERVICE, PROVIDING 196 RENTAL UNITS FOR LOW INCOME ELDERLY AND DISABLED PERSONS IN CONCORD, CA. THE PROJECT OPERATES UNDER A REGULATORY AGREEMENT WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 2043706 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 15 0 true 0 false false false false false false false false false false X 6 6 false true false false false false false true true false false true false false false false false false CA X BARCELON ASSOCIATES MGMT CORP 9256871200 2020 GRANT STREET CONCORD CA 94520 X DENNIS HORGAN PRESIDENT 1.00 1.00 X X 0 0 0 LEE CULEMANN SECRETARY 1.00 1.00 X X 0 0 0 FRANK FRIBLEY TREASURER 1.00 1.00 X X 0 0 0 GARY ROWE VICE PRESIDE 1.00 1.00 X 0 0 0 MARGARET POWELL BOARD MEMBER 1.00 1.00 X 0 0 0 MARILYN WOLLENWEBER BOARD MEMBER 1.00 1.00 X 0 0 0 false false false SODEXHO 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 234006 1 1121241 1121241 TENANT RENTS 869027 869027 FOOD SERVICE 230860 230860 INSURANCE RECOVERY 55477 55477 CABLE TV REIMBURSEMENT 47418 47418 OTHER TENANT CHGS 12620 12620 7484 7484 1222886 149207 149207 2493334 1222886 149207 X 299419 299419 84009 84009 31358 31358 141120 127008 14112 7206 6485 721 29760 26784 2976 1700 1700 12823 12823 1370 1370 40972 36875 4097 8127 8127 276721 276721 54515 52565 1950 UTILITIES 279651 279651 FOOD SERVICES 240970 240970 CONTRACT WORK 187865 187865 REAL ESTATE TAXES 81295 81295 288681 288681 2067562 2043706 23856 0 47547 185521 38617 144347 6003 13838 1330575 45708 153784 6191414 4882460 1413245 1308954 27250258 1913839 30131953 3720283 104116 88441 669939 85366 6288455 859421 6376896 X 29272532 -2656613 29272532 -2656613 30131953 3720283 425772 -32354917 X false true X true true true X 1110002 1139242 1159533 1176989 1121241 5707007 1110002 1139242 1159533 1176989 1121241 5707007 5707007 1948066 2189549 2430287 2662131 149207 9379240 15086247 2404039 0.37830 0.32810 X PART II, LINE 17B THE ORGANIZATION OPERATES A LOW-INCOME HOUSING PROJECT, INCLUDING DAILY FOOD SERVICE, FOR THE BENEFIT OF ELDERLY PERSONS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT (AN "OLD AGE HOME" FOR THE PUBLIC) AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO OPERATING METHODS, TENANT RENTS, AND TENANT INCOME ELIGIBILITY. THE ORGANIZATION MAINTAINS A CONTINUOUS PROGRAM FOR SOLICITATION OF FUNDS FROM THE PUBLIC AND GOVERNMENTAL UNITS, AND, AS A RESULT, HAS ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (SECTION 8 ASSISTANCE) WITH HUD ON BEHALF OF QUALIFIED LOW-INCOME TENANTS. THE CURRENT CONTRACT DOES NOT EXPIRE UNTIL JULY 2029. HUD HAS ESTABLISHED VARIOUS GUIDELINES FOR THE RENEWAL OF THESE CONTRACTS, AND THE ORGANIZATION MAINTAINS COMPLIANCE WITH THE REQUIRED GUIDELINES TO ASSURE THE POTENTIAL OF OBTAINING FUTURE SECTION 8 FUNDING FROM HUD UPON THE EXPIRATION OF THE CURRENT CONTRACT IN 2029. IN ADDITION, THE ORGANIZATION HAS AN INTEREST REDUCTION PAYMENT CONTRACT WITH HUD UNDER WHICH HUD, FOR THE BENEFIT OF THE ORGANIZATION, PAYS A SPECIFIED PORTION OF THE MONTHLY PAYMENT DUE ON THE MORTGAGE ORIGINALLY INCURRED TO ACQUIRE AND REHABILITATE THE LOW-INCOME HOUSING PROJECT. THE CONTRACT REQUIRES THE ORGANIZATION TO CONTINUE TO PROVIDE LOW-INCOME HOUSING TO THE PUBLIC IN COMPLIANCE WITH REGULATIONS, OPERATING METHODS, AND TENANT RENT AND INCOME ELIGIBILITY REQUIREMENTS ESTABLISHED BY HUD. THE INTEREST REDUCTION PAYMENT CONTRACT EXPIRES IN 2016, AT WHICH TIME THE MORTGAGE WILL BE PAID IN FULL. FOR 2013, THE ORGANIZATION RECEIVED SUPPORT FROM HUD IN THE FORM OF 939,312 OF SECTION 8 ASSISTANCE PAYMENTS AND 187,677 OF INTEREST REDUCTION PAYMENTS. THE ORGANIZATION'S OTHER SOURCE OF SUPPORT (ON AN ACCRUAL BASIS) FOR 2013, AS DEFINED BY TREAS. REGS. SECTION 1.170A-9T(F) (7)(I), WAS INTEREST INCOME OF 2,662,131, ALL OF WHICH WAS ACCRUED AND UNPAID. AT DECEMBER 31, 2013, THE BOARD OF DIRECTORS OF THE ORGANIZATION WAS COMPOSED OF FIVE UNPAID VOLUNTEERS FROM THE CONCORD, CALIFORNIA COMMUNITY, NONE OF WHOM WERE SIGNIFICANT DONORS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 245762 245762 4996599 4197121 799478 1045240 RESERVES 1455248 DEFERRED FINANCING FEES 317415 TENANT DEPOSITS 85846 ESCROW DEPOSITS 55330 SALVIO GRANT LAND PARTNERSHIP PLAZA TOWER ASSOCIATES ACCRUED INTEREST ON LOAN RECEIVABLE 1913839 MORTGAGE PAYABLE - L/T 6118048 TENANT SECURITY DEPOSITS 86507 MORTGAGE PAYABLE - S/T 81952 PREPAID REVENUE 1948 6288455 X 2493334 2493334 2493334 2067562 2067562 2067562 SCHEDULE D, PAGE 3, PART X THE CORPORATION HAS BEEN GRANTED TAX-EXEMPT STATUS BY THE INTERNAL REVENUE SERVICE UNDER CODE SECTION 501(C)(3) AND BY THE CALIFORNIA FRANCHISE TAX BOARD UNDER CODE SECTION 23701(D). GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) PROVIDES ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE ORGANIZATION IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION'S RETURNS FOR YEARS ENDED DECEMBER 31, 2012, 2013, AND 2014 ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. FORM 990, PAGE 6, PART VI, LINE 3 THE ORGANIZATION'S MANAGEMENT COMPANY WAS RESPONSIBLE FOR THE DAY TO DAY OPERATIONS OF THE LOW-INCOME HOUSING PROJECT, INCLUDING TENANT SELECTION AND CERTIFICATION, RENT COLLECTION, HIRING AND SUPERVISION OF EMPLOYEES (ALL PROJECT STAFF WERE EMPLOYEES OF THE MANAGEMENT COMPANY), FACILITY MAINTENANCE, ETC. FORM 990, PAGE 6, PART VI, LINE 11B PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE MANAGEMENT COMPANY, PRESENTED TO THE BOARD OF DIRECTORS, AND SIGNED BY A BOARD MEMBER. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION AT ITS MANAGEMENT AGENT'S OFFICE. FORM 990, PART IX, LINE 24E OPERATING EXPENSES 73,030 0 0 SUPPLIES 69,760 0 0 ADMIN EXPENSES 63,316 0 0 TRASH REMOVAL 40,144 0 0 SECURITY 19,104 0 0 HVAC 12,923 0 0 TAXES & PERMITS 3,297 0 0 TRAINING 3,040 0 0 MORTGAGE INSURANCE 2,605 0 0 RESIDENT SCREENING 1,030 0 0 BAD DEBTS 432 0 0 FORM 990, PART XI, LINE 9 LIQUIDATING DISTR. TO RELATED ORGS/CITY OF CONCORD 5,037,247 DEBT FORGIVENESS - CONCORD PLAZA TOWERS 27,317,670 CONCORD PLAZA TOWER INC 2020 GRANT STREET CONCORD CA 94520 942984887 HOUSING CA 501C3 9 NA false false true false false false false false false false false false false false true true false false false false CONCORD PLAZA TOWER INC B 32354917 CASH/FMV