2015-11-10T17:14:36-06:00 2014-12-31 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2014-01-01 311616634 PRESERVATION OF AFFORDABLE HOUSING INC % LAURA VENNARD PRES 6172619898 40 COURT STREET SUITE 700 BOSTON MA 02108 Laura Vennard Officer 6172619898 2015-11-15 true LEONARD J BERKOWITZ P00851654 6176481400 2015-11-15 2014 2016-04-25 22:37:26Z laura vennard 40 court street boston MA 02108 39038283 false X WWW.POAH.ORG X 1998 IL PRESERVATION OF AFFORDABLE HOUSING, INC. (POAH) WAS FORMED TO PRESERVE AND CREATE AFFORDABLE HOUSING FOR PERSONS IN NEED OF SUCH HOUSING. 9 8 481 0 4711174 6689896 51785793 30055848 1751014 2291818 0 0 58247981 39037562 0 0 0 0 20676626 22841062 0 0 513125 6826248 7175548 27502874 30016610 30745107 9020952 151458164 156912797 21016131 19985254 130442033 136927543 POAH WAS FORMED TO PRESERVE AND CREATE AFFORDABLE HOUSING FOR PERSONS IN NEED OF SUCH HOUSING. false false 27455167 30055848 POAH is dedicated to the long term preservation, creation, ownership and operation of affordable housing properties. At December 31, 2014 POAH, or its related organizations owned and operated 8,520 units of decent, safe and affordable housing for low income persons and families. 27455167 true true false false false false false false false false true false true false true true false true false false false false false false false false false false false true false false false true false false false true false false false false true true true true false false true 46 0 true 481 true false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true true true true true IL MA X LAURA VENNARD 6172619898 40 COURT STREET BOSTON MA 02108 X REESE FAYDE DIRECTOR 1.0 0.0 X 5000 0 0 HERBERT MORSE DIRECTOR 2.0 0.0 X 4000 0 0 TOBY LEVY DIRECTOR 1.0 0.0 X 3500 0 0 MARK GOLDHABER DIRECTOR 1.0 0.0 X 4000 0 0 Amy Anthony PRESIDENT 40.0 0.0 X X 526520 0 17648 GEORGIA MURRAY director 2.0 0.0 X 3500 0 0 WILLIAM APGAR DIRECTOR 1.0 0.0 X 5000 0 0 ESTELLE RICHMAN DIRECTOR 1.0 0.0 X 6000 0 0 JARRETT BARRIOS DIRECTOR 1.0 0.0 X 2000 0 0 W Bart Lloyd MANAG. DIR. ACQ & GEN. COUNSEL 40.0 0.0 X 324003 0 19721 Laura vennard treasurer, manag. dir & cfo 40.0 0.0 X 374050 0 15232 ANDREW SPOFFORD SECRETARY 40.0 0.0 X 128256 0 0 LEE FELGAR PRES OF PHM LLC,TERMED 2/14/14 40.0 0.0 X 140563 0 6854 PATRICIA BELDEN COO/PRESIDENT OF PHM 40.0 0.0 X 314617 0 21870 RODGER BROWN MANAGING DIR., REAL ESTATE DEV 40.0 0.0 X 345324 0 22615 Jeanne Taylor CFO of PHM LLC 40.0 0.0 X 237643 0 16814 ROCHELLE BEEKS COO OF PHM LLC 40.0 0.0 X 311899 0 13087 CORY MIAN VICE PRESIDENT, DEVELOPMENT 40.0 0.0 X 186661 0 19341 DENA XIFARAS VP ASSET MANAGEMENT 40.0 0.0 X 186701 0 21693 CHARLES ADAMS SENIOR PROJECT MANAGER 40.0 0.0 X 183000 0 14497 3292237 0 189372 12 false true false METROPOLITAN FAMILY SERVICES ONE N DEARBORN ST CHICAGO IL 60602 CONSULTING SERVICES 226489 COHNREZNICK LLP 7501 WISCONSIN AVE STE 400E BETHESDA MD 20814 ACCOUNTING SERVICES 119500 MINDSHIFT TECHNOLOGIES INC 309 WAVERLY OAKS RD 301 WALTHAM MA 02452 it support services 133860 SGA YOUTH FAMILY SERVICES 11 EAST ADAMS ST STE 1500 CHICAGO IL 60603 CONSULTING SERVICES 201016 4 X 6436251 253645 6689896 DEVELOPMENT AND MANAGEMENT INCOME 531390 26678986 26678986 STATE TAX CREDIT PROCEEDS 531390 3288680 3288680 MISCELLANEOUS REVENUE 531190 88182 88182 30055848 2292187 2292187 0 0 0 0 0 352 721 -369 -369 -369 0 0 0 0 39037562 30055848 2291818 0 0 0 0 2186342 1787276 312933 86133 0 17909319 16851588 808847 248884 269574 223746 35045 10783 785081 651617 102061 31403 1690746 1403319 219797 67630 0 148343 108808 39535 188120 188120 0 0 0 0 603793 399818 203975 0 498333 413617 64783 19933 346567 287650 45054 13863 0 734563 609687 95493 29383 562127 466065 96062 0 89299 81182 8117 703011 703011 0 90114 90114 82962 82962 MISCELLANEOUS EXP 46070 38238 5989 1843 FILING & REGISTRATION FEES 81749 67852 10627 3270 DEVELOPMENT EXPENSE 1142943 1142943 RESIDENT SERVICES 253361 253361 1604193 1604193 30016610 27455167 2048318 513125 X 7984075 7069306 3125505 1901282 528559 421974 11385014 7157490 0 0 0 0 101830398 113239700 0 0 291068 357486 1705643 264941 323430 1440702 0 0 0 0 20350924 18850274 57079 33190 5582112 6441393 151458164 156912797 853498 640722 0 0 867085 933130 0 0 0 0 10088720 10289495 7263638 6798721 0 0 1943190 1323186 21016131 19985254 X 130323645 136633227 118388 294316 0 0 130442033 136927543 151458164 156912797 X 9020952 -2535442 X false true X true true true X 200365 1145052 1341107 4711174 6689896 14087594 8355491 877366 52350204 51785793 30055848 143424702 0 0 0 8555856 2022418 53691311 56496967 36745744 157512296 0 0 0 157512296 820101 1126304 1799884 1750964 2267250 7764503 0 820101 1126304 1799884 1750964 2267250 7764503 0 0 9375957 3148722 55491195 58247931 39012994 165276799 0.95302 0.94917 0.04698 0.05083 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 432246 264941 167305 1273397 1273397 1440702 INVESTMENT IN PARTNERSHIPS 18421309 C INVESTMENT IN HPIEX 428965 C 18850274 0 DUE TO RELATED ORGANIZATIONS 164281 ACCRUED INTEREST 88540 ACCRUED EXPENSES 712658 OPERATING LOSS LOAN PAYABLE 181414 DEVELOPMENT COSTS PAYABLE 176293 1323186 X RECONCILIATION TO FINANCIAL STATEMENTS NO SEPARATE AUDIT, CONSOLIDATED AUDIT FILED. fin 48 The Company is exempt from federal income taxes under the provisions of the Internal Revenue Code Section 501(c)(3) and did not have any unrelated business income for the years ended December 31, 2014 and 2013. No provision or benefit for income taxes has been included in these financial statements for POAH LLC, PHM LLC, and the entities controlled by POAH or an affiliate since the limited liability company's net taxable profit or loss is passed through to the individual members. The Company is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Company has no other tax positions which must be considered for disclosure. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2011 remain open. X false true X X X X X false false false false false false false true false Amy Anthony PRESIDENT 316270 0 210250 0 0 0 10400 0 7248 0 544168 0 0 0 W Bart Lloyd MANAG. DIR. ACQ & GEN. COUNSEL 222478 0 101525 0 0 0 5224 0 14497 0 343724 0 0 0 Laura vennard treasurer, manag. dir & cfo 237270 0 136780 0 0 0 10400 0 4832 0 389282 0 0 0 PATRICIA BELDEN COO/PRESIDENT OF PHM 244776 0 69841 0 0 0 6964 0 14906 0 336487 0 0 0 RODGER BROWN MANAGING DIR., REAL ESTATE DEV 216324 0 129000 0 0 0 8118 0 14497 0 367939 0 0 0 Jeanne Taylor CFO of PHM LLC 177126 0 60517 0 0 0 9506 0 7308 0 254457 0 0 0 ROCHELLE BEEKS COO OF PHM LLC 229887 0 60512 0 21500 0 3648 0 9439 0 324986 0 0 0 CORY MIAN VICE PRESIDENT, DEVELOPMENT 149401 0 37260 0 0 0 4844 0 14497 0 206002 0 0 0 DENA XIFARAS VP ASSET MANAGEMENT 149441 0 37260 0 0 0 7196 0 14497 0 208394 0 0 0 CHARLES ADAMS SENIOR PROJECT MANAGER 160000 0 23000 0 0 0 0 0 14497 0 197497 0 0 0 TAX INDEMNIFICATION AND GROSS UP PAYMENTS A GROSS-UP PAYMENT FOR TUITION REIMBURSEMENT WAS PAID TO AN EMPLOYEE. Discretionary bonuses Discretionary bonuses are awarded and included on Part II Column B (ii). HOUSING INVESTMENTINC OWNED BY POAH PRESID PURCHASE OF POAH LLC X 5419984 2392839 false true true HOUSING INVESTMENTINC OWNED BY POAH PRESID PURCHASE OF POAH LLC X 2938279 4168759 false true true HOUSING INVESTMENTINC OWNED BY POAH PRESID PURCHASE OF POAH LLC X 2422935 3727898 false true true 10289496 HOUSING INVESTMENT INC OWNDED BY POAH CEO 2667483 SEE ATTACHMENT false PART II, LINE 2(E) AND 3(E) ORIGINAL PRINCIPAL AMOUNT IS THE PRESENT VALUE OF THESE CONTINGENT NOTES AT THE TIME OF THE PURCHASE OF HII'S INTEREST IN POAH, LLC. PART IV, LINE 1(D) POAH PURCHASED HOUSING INVESTMENT INC'S INTEREST IN POAH, LLC. THE INTEREST WAS INDEPENDENTLY VALUED AND INSTALLMENT NOTES WERE ISSUED BY POAH TO HOUSING INVESTMENTS, INC (SEE SCH L PART II). THE AMOUNT LISTED OF $2,667,483 REPRESENTS NOTE PAYMENTS MADE DURING 2014. part vi section A question 3 Preservation of Affordable Housing Inc's Board of Directors sets policy for the organization, approves acquisitions, joint ventures, approves annual budgets and appoints officers of the organization. part vi section B question 11 APPROVAL OF THE 990 WAS ASSIGNED TO THE AUDIT COMMITTEE BY THE BOARD MEMBERS. the audit committee reviewed, discussed and approved the 990 for filing. A copy of the 990 prepared for filing was given to each board member prior to filing. part vi section B question 12 BOARD MEMBERS, OFFICERS, AND STAFF ARE COVERED by A CONFLICT OF INTEREST POLICY. THE CHAIR AND PRESIDENT MONITOR TRANSACTIONS FOR POTENTIAL CONFLICTS AND EXPECT OTHERS ACTING ON BEHALF OF POAH TO DO THE SAME. ANY POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED BY THE BOARD, WHICH ENFORCES THE POLICY. THE BOARD VOTES ON ANY CONFLICTS AND ON THE ORGANIZATION'S MAJOR EXPENDITURES AFTER DISCUSSION, WITHOUT THE PARTICIPATION OF ANY CONFLICTED PARTY. POAH's policy applies to to preservation of affordable housing, llc and preservation housing management LLC both disregarded entities. part vi section B question 13 POAH, the filing organization, has a written whistleblower policy. POAH's policy applies to Preservation of Affordable Housing, LLC and Preservation Housing Management LLC, both disregarded entities part vi section b question 14 POAH, the filing organization, has a written document retention and destruction policy. POAH's policy applies to Preservation of Affordable Housing, LLC, a disregarded entity. Preservation Housing Management LLC, a disregarded entity of POAH, abides by a document retention and destruction policy that has not been formally adopted but will be during 2015. part vi section B question 15 COMPENSATION FIGURES FOR THE PRESIDENT AND KEY EMPLOYEES WERE PRESENTED TO A COMMITTEE OF THE BOARD FOR REVIEW AND APPROVAL. INDEPENDENT COMPENSATION STUDIES WERE COMMISSIONED AND REVIEWED PERIODICALLY. part vi section C question 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. form 990 part XI line 9 Adjustment due to increase in contingent liabilities. POAH CHERRY HILL LLC 40 COURT STREET BOSTON MA 02108 202971274 AFFORDBLE HSG RI -50268 3312803 POAH INC POAH TORRINGFORD WEST LLC 40 COURT STREET BOSTON MA 02108 203716805 AFFORDBLE HSG CT 126421 30276 POAH INC POAH FIELDSTONE APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 113796175 AFFORDBLE HSG RI 20000 3743309 POAH INC POAH CENTRAL ANNEX LLC 40 COURT STREET BOSTON MA 02108 830479245 AFFORDBLE HSG MA -5768 49074 POAH INC RIVERVIEW RESIDENCES DOVER LLC 40 COURT STREET BOSTON MA 02108 300470515 AFFORDBLE HSG NH 92697 1666456 POAH INC POAH CUTLER MANOR LLC 40 COURT STREET BOSTON MA 02108 261845026 AFFORDBLE HSG FL -21556 14696098 POAH INC POAH CUTLER MEADOWS LLC 40 COURT STREET BOSTON MA 02108 261845150 AFFORDBLE HSG FL 1266847 12624848 POAH INC POAH MIDDLETOWNE APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 261847715 AFFORDBLE HSG FL 38524 6042712 POAH INC POAH GROVE PARC APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 262930050 AFFORDBLE HSG IL -679368 1201038 POAH INC POAH HILLSIDE APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 204261855 AFFORDBLE HSG RI -18 -101 POAH INC POAH POCASSET APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 204261981 AFFORDBLE HSG RI -42 1067604 POAH INC POAH HILLCREST APARTMENTS LLC 40 COURT STREET BOSTON MA 02108 760835595 AFFORDBLE HSG RI -29 -154 POAH INC POAH CAMPBELL ARMS LLC 40 COURT STREET BOSTON MA 02108 261848397 AFFORDBLE HSG FL 29012 6518918 POAH INC POAH NEW HORIZONS LLC 40 COURT STREET BOSTON MA 02108 261848319 AFFORDBLE HSG FL -17 600586 POAH INC POAH Brandy Hill LLC 40 Court Streetb Boston MA 02108 271170307 AFFORDBLE HSG MA 137915 8138808 POAH INC POAH NSP Chicago LLC 40 Court Street Boston MA 02108 800526061 AFFORDBLE HSG IL -852683 17916876 POAH INC BR SUGAR RIVER LLC 40 COURT STREET SUITE 700 BOSTON MA 02108 412231680 AFFORDBLE HSG NH 41233 POAH INC POAH VENTURES LLC 40 COURT STREET BOSTON MA 02108 463081410 AFFORDBLE HSG MA -557762 7641967 POAH INC POAH TRINITY EAST LLC 40 COURT STREET BOSTON MA 02108 455474291 AFFORDBLE HSG FL 23822 5146118 POAH INC POAH TRINITY WEST LLC 40 COURT STREET BOSTON MA 02108 455451937 AFFORDBLE HSG FL 149702 5617031 POAH INC TRINITY TOWERS S PRES ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 453787825 AFFORDBLE HSG FL 197273 3393577 POAH INC COLONY PLAZA ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 364306225 AFFORDBLE HSG MO -184870 5296970 POAH INC COUNTRY CLUB VILLAGE ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 364306224 AFFORDBLE HSG MO 94648 2379233 POAH INC GLENWOOD MANOR ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 364306228 AFFORDBLE HSG MO -149842 3893951 POAH INC HIGHLAND MEADOWS ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 364306218 AFFORDBLE HSG MO -54920 981327 POAH INC VILLAGE MEADOWS ASSOCIATES LP 40 COURT STREET BOSTON MA 02108 364306214 AFFORDBLE HSG MO -108266 1388020 POAH INC preservation of affordable Housing llc 40 COURT STREET BOSTON MA 02108 043577340 DEVELOP AFF. 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