2014-08-15T07:43:48-05:00 2013-12-31 362658780 MUELLER & CO LLP 1707 N RANDALL RD STE 200 ELGIN IL 60123 990 2013-01-01 363086133 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP LAKE 8472447616 P O BOX 321 GURNEE IL 60031 MARY ELLEN TAMASY PRESIDENT 8472447616 2014-08-13 1 ROY GROESBECK P01318350 8478888600 2013 2015-11-30 17:44:51Z MARY ELLEN TAMASY 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 1682551 0 X WWW.LCRDCIL.ORG X 1978 IL LAKE COUNTY RESIDENTIAL DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION WHOSE PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR FAMILIES AND INDIVIDUALS PRIMARILY IN LAKE COUNTY, ILLINOIS. 8 8 2 8 0 0 842618 246776 680568 837826 134 79 141 597870 1523461 1682551 513771 1900 0 0 156787 191910 0 0 0 615763 662830 1286321 856640 237140 825911 10463777 11293798 1150938 1155048 9312839 10138750 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP IS A NOT-FOR-PROFIT CORPORATION WHOSE PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR FAMILIES AND INDIVIDUALS PRIMARILY IN LAKE COUNTY, ILLINOIS. 0 0 104582 1900 1026006 DEVELOPMENT OF MULTI-FAMILY RESIDENTIAL REAL ESTATE FOR LOW INCOME INDIVIDUALS UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT IN ACCORDANCE WITH REGULATIONS ISSUED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. PROVIDED LOAN FOR WEATHERIZATION TO LOW INCOME MULTI-FAMILY RESIDENTIAL RENTAL PROPERTY. 521618 0 396120 ACQUISITION, RENOVATION, RENTAL AND SALE OF RESIDENTIAL REAL ESTATE FOR LOW INCOME INDIVIDUALS UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT IN ACCORDANCE WITH REGULATIONS ISSUED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 145919 0 10125 MANAGEMENT AND RENTAL OF UNITS IN THE MARY PAT MADDEX PLACE WHICH IS A TRANSITIONAL APARTMENT BUILDING FOR HOMELESS FAMILIES WITH SUPPORT PROVIDED BY LAKE COUNTY PADS. 772119 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 2 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 IL X MARY ELLEN TAMASY 8472447616 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 EVE B LEE CHAIRMAN 4.00 X X 0 0 0 SCOTT A STEWART VICE-CHAIRMAN 4.00 X X 0 0 0 STEVE BONGARD TREASURER/SECRETARY 4.00 X X 0 0 0 JANETT CHOCIANOWSKI DIRECTOR 2.00 X 0 0 0 TONYA WINTERS DIRECTOR 2.00 X 0 0 0 DIANE CORBETT DIRECTOR 2.00 X 0 0 0 EDDIE VANCE DIRECTOR 2.00 X 0 0 0 JOSEPH C MALLER DIRECTOR 2.00 X 0 0 0 YVETTE EWING DIRECTOR 2.00 X 0 0 0 MARY ELLEN TAMASY PRESIDENT 40.00 X 97000 0 2662 97000 0 2662 0 0 0 0 0 206856 39920 246776 DEVELOPER FEES 236000 431581 431581 EXEMPT PURPOSE RENTAL 531110 406245 406245 837826 79 79 SALE OF TAX CREDIT 531310 594425 594425 MISCELLANEOUS 531310 3445 3445 597870 1682551 1435696 0 79 1900 1900 94337 66036 28301 77605 61707 15898 5017 3755 1262 14951 11049 3902 5583 4364 1219 14577 10125 4452 59691 54752 4939 14066 8671 5395 1766 624 1142 1423 1423 225 225 48212 48212 173512 172450 1062 32666 26440 6226 REAL ESTATE TAXES 122950 114538 8412 PROPERTY REPAIRS AND MA 102464 101064 1400 OTHER 49430 48744 686 UTILITIES 34056 34056 2209 2209 856640 772119 84521 0 104441 324154 146085 174293 15563 2539 648 6440000 6440000 3967 3894 5877339 2136518 3766745 3740821 594425 10463777 11293798 145245 168963 972297 954293 33396 31792 1150938 1155048 X 2872839 3698750 6440000 6440000 9312839 10138750 10463777 11293798 825911 0 X 0 1 X 1 0 X 163875 1542805 1489929 842618 1682551 5721778 163875 1542805 1489929 842618 1682551 5721778 5721778 284240 278122 287682 356966 406324 1613334 7335112 755317 0.78010 0.76110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 750004 750004 5030628 2131832 2898796 96707 4686 92021 3740821 PROGRAM RELATED INVESTMENTS 594425 C 594425 SECURITY DEPOSITS 31792 31792 X PART X, LINE 2: LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP. (LCRDC) HAS BEEN DETERMINED TO BE EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR EITHER FEDERAL OR STATE INCOME TAXES. LCRDC HAS ADOPTED ACCOUNTING PRINCIPLES RELATED TO UNCERTAIN TAX POSITIONS AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. CURRENTLY, THE 2010, 2011 AND 2012 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. HOWEVER, THE ORGANIZATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY ANY OF THESE JURISDICTIONS. BASED ON THE EVALUATION OF LCRDC'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS WOULD BE UPHELD UNDER AN EXAMINATION; THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED FOR THE YEARS ENDED DECEMBER 31, 2013 AND DECEMBER 31, 2012. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S ACCOUNTANT. THEN IT IS REVIEWED BY THE PRESIDENT WHO THEN REVIEWS IT WITH THE CHAIRMAN. A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS IS REQUIRED TO SIGN STATEMENTS THAT AFFIRM THAT THEY HAVE RECEIVED, READ, UNDERSTAND AND COMPLY WITH THIS POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE UPON REQUEST. LCRDC - ZION LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 203317234 SUBSIDIZED LOW INCOME HOUSING IL -45 491826 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP LCRDC VERNON HILLS SLF LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 271815147 SUBSIDIZED LOW INCOME HOUSING IL -7 287683 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP LCRDC VERNON HILLS SA LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 271815282 SUBSIDIZED LOW INCOME HOUSING IL -47 1067622 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP LCDRC - FREEPORT LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 800956768 SUBSIDIZED LOW INCOME HOUSING IL 1937901 3254371 LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP LCDRC - CRYSTAL LAKE LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 900904162 SUBSIDIZED LOW INCOME HOUSING IL LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP ZION SENIOR COTTAGES LP 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 030501495 SUBSIDIZED LOW INCOME HOUSING IL LCRDC-ZION LLC RELATED -45 491826 0 1 0.00510 NORTH CHICAGO-LCRDC LP 131 E PARK AVENUE SUITE 101 LIBERTYVILLE IL 60048 800138953 SUBSIDIZED LOW INCOME HOUSING IL LCRDC-NORTH CHICAGO LLC RELATED -29 -162826 0 1 0.00920 VERNON HILLS SLF ASSOCIATES LP 701 LEE STREET SUITE 500 DES PLAINES IL 60016 264519543 SUBSIDIZED LOW INCOME HOUSING IL LCRDC VERNON HILLS SLF LLC RELATED -7 287683 0 1 0.00510 VERNON HILLS SA ASSOCIATES LP 701 LEE STREET SUITE 500 DES PLAINES IL 60016 264519362 SUBSIDIZED LOW INCOME HOUSING IL LCRDC VERNON HILLS SA LLC RELATED -47 1067622 0 1 0.00510 PARK CITY - LCRDC LP 131 E PARK AVENUE SUITE 101 LIBERTYVILLE IL 60048 260693044 SUBSIDIZED LOW INCOME HOUSING IL LCRDC-PARK CITY LLC RELATED -160 1023041 0 1 0.82800 PECOR INVESTMENTS-2012-CXLN LP 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60016 383877358 SUBSIDIZED LOW INCOME HOUSING IL LAKE COUNTY RESIDENTIAL DEV CORP RELATED 0 1 0.51000 LCRDC - NORTH CHICAGO LLC 1280 BLACKBURN STREET SUITE 301 GURNEE IL 60031 320156376 SUBSIDIZED LOW INCOME HOUSING IL LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP C -29 -162826 0.92000 0 LCRDC - PARK CITY LLC 131 E PARK AVE SUITE 101 LIBERTYVILLE IL 60048 260692939 SUBSIDIZED LOW INCOME HOUSING IL LAKE COUNTY RESIDENTIAL DEVELOPMENT CORP C -160 1023041 0.90000 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 VERNON HILLS SLF ASSOC LP B 145720 FAIR MARKET VALUE PARK CITY-LCRDC LP B 337256 FAIR MARKET VALUE VERNON HILLS SA ASSOC LP B 120847 FAIR MARKET VALUE FREEPORT-LCRDC B 594425 FAIR MARKET VALUE