2015-11-13T14:19:46-06:00 2014-12-31 043728817 TRONCONI SEGARRA & ASSOCIATES LLP 8321 MAIN STREET WILLIAMSVILLE NY 14221 990 2014-01-01 205148995 RICHARDSON CENTER CORPORATION RICH 7166011150 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 PAUL HOJNACKI TREASURER 7166011150 2015-11-13 1 MICHAEL B DOLAN CPA P00141357 7166331373 2014 2016-04-25 22:37:26Z X HOWARD ZEMSKY 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 42539233 0 X WWW.RICHARDSON-OLMSTED.COM X 2006 NY WE ENVISION THE REHABILITATION OF THE NATIONAL HISTORIC LANDMARK RICHARDSON OLMSTED COMPLEX (THE FORMER BUFFALO STATE ASYLUM FOR THE INSANE), COMPRISED OF THE H. H. RICHARDSON-DESIGNED BUILDINGS AND FREDERICK LAW OLMSTED-DESIGNED GROUNDS, TO BE THE CROWNING JEWEL OF A MIXED-USE, MULTI-PURPOSE CIVIC CAMPUS OF PUBLIC AND PRIVATE ACTIVITIES. 15 13 2 45 0 0 3004285 42505736 28715 32829 2343 668 0 0 3035343 42539233 0 0 0 0 114774 127276 0 0 0 4492481 49787 4607255 177063 -1571912 42362170 2649102 58663026 1294404 350173 1354698 58312853 X WE ENVISION THE REHABILITATION OF THE NATIONAL HISTORIC LANDMARK RICHARDSON OLMSTED COMPLEX (THE FORMER BUFFALO STATE ASYLUM FOR THE INSANE), COMPRISED OF THE H. H. RICHARDSON-DESIGNED BUILDINGS AND FREDERICK LAW OLMSTED-DESIGNED GROUNDS, TO BE THE CROWNING JEWEL OF A MIXED-USE, MULTI-PURPOSE CIVIC CAMPUS OF PUBLIC AND PRIVATE ACTIVITIES. 0 0 536 DIRECTING THE STABILIZATION AND REHABILITATION OF THE NATIONAL HISTORIC LANDMARK IN BUFFALO, NEW YORK KNOWN AS THE RICHARDSON OLMSTED COMPLEX. 78 FACILITATE THE PLANNING FOR REHABILITATION AND REUSE OF THE NATIONAL HISTORIC LANDMARK IN BUFFALO, NEW YORK KNOWN AS THE RICHARDSON OLMSTED COMPLEX. 117154 DESIGN AND FACILITATE THE CORE PROJECT DEVELOPMENT. THE PROJECT WILL INCLUDE THE CREATION OF A HOTEL, EVENT AND CONFERENCE CENTER AND AN ARCHITECTURE CENTER FOR BUFFALO. 2900 32829 TOURS AND OPEN HOUSE EVENTS 2900 32829 120668 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 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 1 1 1 0 0 0 1 7 0 2 1 0 0 0 0 0 0 0 0 0 0 X 15 13 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 NY X MONICA PELLEGRINO FAIX 7166011150 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 STANFORD LIPSEY CHAIRMAN 5.00 X X 0 0 0 HOWARD ZEMSKY PRESIDENT 5.00 X X 0 0 0 PAUL CIMINELLI VICE CHARIMAN 5.00 X X 0 0 0 PAUL HOJNACKI TREASURER 5.00 X X 0 0 0 CHRISTOPHER GREENE SECRETARY 5.00 X X 0 0 0 CLINTON BROWN DIRECTOR 5.00 X 0 0 0 KATHERINE CONWAY TURNER DIRECTOR 5.00 X 0 0 0 EVA HASSETT DIRECTOR 5.00 X 0 0 0 KELLY HAYES MCALONIE DIRECTOR 5.00 X 0 0 0 THOMAS HERRERA-MISHLER DIRECTOR 5.00 X 0 0 0 GAIL JOHNSTONE DIRECTOR 5.00 X 0 0 0 WILLIAM JONES DIRECTOR 5.00 X 0 0 0 BARBARA CAMPAGNA DIRECTOR 5.00 X 0 0 0 SUSANNE BAIR DIRECTOR 5.00 X 0 0 0 JEFFREY WELLINGTON DIRECTOR 5.00 X 0 0 0 MONICA PELLEGRINO FAIX EXECUTIVE DIRECTOR 40.00 X 68650 0 7377 68650 0 7377 0 0 0 0 0 42461895 43841 2567000 42505736 TOUR AND OPEN HOUSES 900099 32829 32829 32829 668 668 42539233 32829 0 668 68650 48055 20595 38726 27108 11618 4628 3240 1388 6608 4626 1982 8664 6065 2599 12267 12267 687 687 7973 7973 1375 1375 647 647 3924 3924 17400 17400 PROJECT DEVELOPMENT COS 2000 2000 STABILIZATION AND REHAB 536 536 PLANNING FOR REHABILITA 78 78 2900 2900 177063 120668 56395 0 13627 13042 436 436 960434 250675 1674384 1234145 221 26077 2986982 17400 0 2969582 0 54169069 2649102 58663026 1234404 286675 60000 63498 1294404 350173 X 120235 54747209 1234463 3565644 1354698 58312853 2649102 58663026 X 42362170 14595985 0 X X 0 1 X 1 0 X 624489 6034572 1961479 3004285 42538565 54163390 624489 6034572 1961479 3004285 42538565 54163390 54163390 5723 4113 2343 668 12847 54176237 0.99980 0.99930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1175000 1175000 1392000 17400 1374600 419982 419982 2969582 DUE FROM RELATED PARTY 229721 INVESTMENT IN RICHARDSON CENTER DEVELOPMENT FUND COMPANY 53939348 54169069 LINE OF CREDIT 55000 DUE TO RELATED PARTY 8498 63498 X 42556381 17148 17148 42539233 0 42539233 194211 17148 17148 177063 0 177063 PART X, LINE 2: FIN 48: ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - THE ORGANIZATION'S MANAGEMENT EVALUATES ITS TAX POSITIONS TO DETERMINE WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION, BASED ON TECHNICAL MERITS OF THE TAX POSITION. MANAGEMENT HAS ANALYZED THE ORGANIZATION'S TAX POSITIONS AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE DISCLOSURE IN THE FINANCIAL STATEMENTS. X 1 2567000 ASSESSMENT OF PROPERTY 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 CHAIRMAN STANFORD LIPSEY AND TREASURER PAUL HOJNACKI HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE TREASURER AND SECRETARY AND IS MADE AVAILABLE FOR REVIEW BY THE OTHER DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AND ALL DIRECTORS ARE REQUIRED TO COMPLETE ACKNOWLEGMENT FORMS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE ON A YEARLY BASIS. RESEARCH IS DONE BY REVIEWING SURVEYS AND COMPENSATION INFORMATION OF EQUIVALENT POSITIONS IN OTHER LOCAL CHARITIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND TAX RETURN AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE FINANCIAL AND AUDIT COMMITTEES REVIEW AND COMMENT ON THE FINANCIAL STATEMENTS, PARTICIPATE IN THE AUDIT BY ANSWERING ANY QUESTIONS POSED BY THE AUDITORS AND MAKE RECOMMENDATIONS TO THE BOARD. THEY ALSO SELECTED THE INDEPENDENT AUDITOR THROUGH AN RFP PROCESS WHICH EVALUATED BOTH QUALIFICATIONS AND PRICE. FORM 990, PART XI, LINE 8 PRIOR TO 2014, THE ORGANIZATION DID NOT HAVE OWNERSHIP OF THE LAND OR BUILDINGS OF THE COMPLEX, OR ANY LEASEHOLD INTEREST IN THE COMPLEX. AS A RESULT, THE ORGANIZATION HAS HISTORICALLY RECORDED COSTS ASSOCIATED WITH THE STRUCTURAL STABILIZATION, REHABILITATION AND DEVELOPMENT OF THE COMPLEX AS PROGRAM EXPENSE WHEN INCURRED. THE ORGANIZATION WAS GRANTED TITLE TO THE COMPLEX PROPERTY ON JUNE 26, 2014. ADDITIONALLY, AS PART OF A HISTORIC TAX CREDIT INVESTMENT WHICH FINALIZED ON SEPTEMBER 19, 2014 AND WITH WHICH THE ORGANIZATION AND CERTAIN SUBSIDIARIES OF THE ORGANIZATION ARE INVOLVED, THE ORGANIZATION MADE AN EQUITY TRANSFER TO RICHARDSON CENTER DEVELOPMENT CORPORATION IN THE AMOUNT OF $16,557,309. THIS EQUITY TRANSFER AMOUNT REPRESENTS COMPLEX DEVELOPMENT COSTS INCURRED BY THE ORGANIZATION PRIOR TO 2014 TOTALING $14,595,985 AND COSTS INCURRED DURING 2014 PRIOR TO THE TAX CREDIT INVESTMENT CLOSING ON SEPTEMBER 19, 2014 TOTALING $1,961,324. THESE COSTS ARE CONSIDERED TO BE QUALIFIED REHABILITATION EXPENDITURES FOR HISTORIC TAX CREDIT PURPOSES. IN ORDER TO COMPLETE THE EQUITY TRANSFER TO RICHARDSON CENTER DEVELOPMENT COMPANY, DURING 2014 THE ORGANIZATION APPLIED A CHANGE IN ACCOUNTING METHOD IN WHICH CERTAIN COSTS PREVIOUSLY RECOGNIZED AS PROGRAM EXPENSE WERE CONSIDERED TO HAVE BEEN CAPITALIZED AS CONSTRUCTION IN PROGRESS. THE CHANGE IN ACCOUNTING METHOD AND THE EQUITY TRANSFER TO RICHARDSON CENTER DEVELOPMENT COMPANY DESCRIBED ABOVE HAVE BEEN MADE FOR INCOME TAX PURPOSES, WHICH IS AN OTHER COMPREHENSIVE BASIS OF ACCOUNTING AND; THEREFORE, IS NOT IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE FINANCIAL STATEMENTS OF THE ORGANIZATION OF PRIOR YEARS HAVE BEEN ADJUSTED TO RETROSPECTIVELY APPLY THIS CHANGE IN ACCOUNTING METHOD. AS A RESULT OF THIS CHANGE, THE ORGANIZATION'S NET ASSETS AS OF JANUARY 1, 2014 INCREASED BY $14,595,985. RCDC ASSOCIATES LLC 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 800810491 REAL ESTATE DEVELOPMENT NY 61 61 RICHARDSON CENTER CORPORATION RICHARDSON ARCHITECTURE CENTER INC 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 261868261 TO CELEBRATE AND EDUCATE THE PUBLIC ABOUT BUFFALO'S ARCHITECTURE NY 501(C)(3) LINE 7 RICHARDSON CENTER CORPORATION 1 RCC MASTER TENANT LLC 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 471447894 REAL ESTATE RENTAL NY N/A RELATED 0 1 0.01000 RICHARDSON CENTER DEVELOPMENT QALICB LLC 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 455160528 REAL ESTATE DEVELOPMENT NY RICHARDSON CENTER DEVELOPMENT CORPORATION RELATED 0 0 RICHARDSON CENTER DEVELOPMENT CORPORATION 726 EXCHANGE STREET SUITE 1006 BUFFALO NY 14210 611680478 REAL ESTATE DEVELOPMENT NY RICHARDSON CENTER CORPORATION C -3970 54144169 1.00000 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 RICHARDSON CENTER DEVELOPMENT CORPORATION B 53939348 ACTUAL PAYMENTS RICHARDSON CENTER DEVELOPMENT QALICB LLC D 229721 ACTUAL PAYMENTS