2014-11-13T15:46:50-06:00 2013-12-31 043097400 KEVIN P MARTIN ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2013-01-01 237099102 CHARLESVIEW INC CHAR 7817941000 123 ANTWERP STREET BRIGHTON MA 02135 ROBERT FOX TREASURER 7817941000 2014-11-13 1 KRISTIN E LABONTE CPA P00744707 7813803520 2014-11-13 2013 2015-11-30 17:44:51Z FATHER FRANK GLYNN 123 ANTWERP STREET BRIGHTON MA 02135 4116233 0 X HTTP://CHARLESVIEWCOMMUNITY.ORG X 1969 MA CHARLESVIEW, INC. IS DEDICATED TO ADVANCING THE WELL-BEING OF INDIVIDUALS AND FAMILIES AND PROMOTING THE DIVERSITY AND VIBRANCY OF THE ALLSTON/BRIGHTON COMMUNITY. WE DO THIS BY PROVIDING HEALTHY, AFFORDABLE HOMES; OFFERING PROGRAMS DESIGNED TO ENRICH, EDUCATE AND INSPIRE; AND ENGAGING IN INNOVATIVE PHILANTHROPY. 13 13 2 0 0 0 3751233 2121775 4644082 1955480 5758 8317 33721 30661 8434794 4116233 0 0 0 0 33772 0 0 0 0 4348732 24112371 4382504 24112371 4052290 -19996138 68967191 49150103 365073 544123 68602118 48605980 X CHARLESVIEW, INC. IS DEDICATED TO ADVANCING THE WELL-BEING OF INDIVIDUALS AND FAMILIES AND PROMOTING THE DIVERSITY AND VIBRANCY OF THE ALLSTON/BRIGHTON COMMUNITY. WE DO THIS BY PROVIDING HEALTHY, AFFORDABLE HOMES; OFFERING PROGRAMS DESIGNED TO ENRICH, EDUCATE AND INSPIRE; AND ENGAGING IN INNOVATIVE PHILANTHROPY. 0 1 2323506 893603 PROVIDE 213 UNITS OF AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME AND 4 COMMERCIAL UNITS, IN ALLSTON, MASSACHUSETTS. THE BUILDING WAS SOLD DURING 2011, HOWEVER, PURSUANT TO A MASTER LEASE AGREEMENT, CHARLESVIEW, INC. WAS STILL OPERATING THE AFFORDABLE HOUSING PROJECT ON BEHALF OF THE THIRD PARTY BUYER UNTIL THE TENANTS WERE RELOCATED TO THE ALTERNATE SITE DURING THE YEAR ENDED DECEMBER 31, 2013. 21788865 1092538 PROVIDE FINANCING TO DEVELOP AFFORDABLE HOUSING PROJECT. 24112371 1 1 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 1 0 0 2 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 1 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 MA X JUSTIN PAQUETTE 7817941000 PEABODY PROPERTIES INC 536 GRANITE BRAINTREE MA 02184 RABBI YONAH BERMAN VICE PRESIDENT 2.00 X X 0 0 0 ZACHARY KERZEE DIRECTOR 2.00 X 0 0 0 FATHER FRANK GLYNN PRESIDENT 2.00 X X 0 0 0 ROBERT FOX TREASURER 2.00 X X 0 0 0 MARIE ACE SECRETARY 2.00 X X 0 0 0 ANDREW GILSON DIRECTOR 2.00 X 0 0 0 ETTA ANDERSON DIRECTOR 2.00 X 0 0 0 LILLIAN BURGESS DIRECTOR 2.00 X 0 0 0 JOHN CUSACK DIRECTOR 2.00 X 0 0 0 WILLIAM ROSENBERG DIRECTOR 2.00 X 0 0 0 OMRI FINE DIRECTOR 2.00 X 0 0 0 DR LAWRENCE FIORENTINO DIRECTOR 2.00 X 0 0 0 ROBERT MARSHALL DIRECTOR 2.00 X 0 0 0 JO-ANN BARBOUR EXECUTIVE DIRECTOR 40.00 X 115000 0 0 115000 0 0 1 0 0 0 PEABODY PROPERTIES 536 GRANITE STREET BRAINTREE MA 02184 OFFICE, MAINTENANCE AND OTHER SERVICES 565093 PEABODY PROPERTIES 536 GRANITE STREET BRAINTREE MA 02184 MANAGEMENT FEE 119643 2 2101775 20000 2121775 TENANT RENT 531110 862942 862942 DISCOUNT ACCRETION ON 900099 584599 584599 INTEREST ON NOTES RECE 900099 507939 507939 1955480 8317 8317 LAUNDRY & VENDING 531390 15432 15432 STORES & COMMERCIAL 531390 7650 7650 7579 7579 30661 4116233 1986141 0 8317 119643 119643 33322 33322 29074 29074 579924 579924 61076 61076 1220521 1220521 DISCOUNT ON NOTES RECEI 21788865 21788865 RELOCATION EXPENSES 243248 243248 GIFTS FOR RESIDENTS 5500 5500 BAD DEBT 1622 1622 29576 29576 24112371 24112371 0 0 2389127 567592 1000094 137828 89869 63497023 43923865 41535 1816 2901678 3566867 68967191 49150103 185548 106004 46530 73138 10000 47757 431924 2100 6195 365073 544123 X 68602118 48605980 68602118 48605980 68967191 49150103 -19996138 0 X 0 1 X 1 1 1 X 1865356 2079754 2893739 3751233 2121775 12711857 1305512 1249784 1399898 4644082 1955480 10554756 3170868 3329538 4293637 8395315 4077255 23266613 0 3290560 1026543 4317103 3290560 1026543 4317103 18949510 12245 5280 7406 5758 8317 39006 12245 5280 7406 5758 8317 39006 50924 21284 52288 33721 30661 188878 3234037 3356102 4353331 8434794 4116233 23494497 0.80660 0.84320 0.00170 0.00240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 GENERAL RESERVE 1966093 ADMINISTRATIVE RESERVE 351981 ASSURANCE RESERVE 1243784 DUE FROM CHLP 5009 3566867 DUE TO CHLP 6195 6195 X 4096233 0 4096233 20000 20000 4116233 24092371 0 24092371 20000 20000 24112371 PART X, LINE 2: GAAP PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FOR THOSE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. FOR THE YEAR ENDED DECEMBER 31, 2013, THE CORPORATION HAS DETERMINED THAT IT HAS NOT TAKEN ANY TAX POSITIONS WHICH WOULD RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE. GENERALLY, THE CORPORATION'S INFORMATION RETURNS REMAIN OPEN FOR POSSIBLE FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS AFTER THE FILING DATE. THE CORPORATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION NETTED WITH EXPENSE ON FINANCIALS 20,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION NETTED WITH EXPENSE ON FINANCIALS 20,000. FORM 990, PART III, LINE 3 THE CORPORATION ENTERED INTO A SECTION 8 HOUSING ASSISTANCE PAYMENTS (HAP) CONTRACT WITH HUD, WHEREBY IT WAS ENTITLED TO A RENT SUBSIDY FOR 200 UNITS BASED UPON THE DIFFERENCE BETWEEN MARKET RENTS, AS DEFINED IN THE CONTRACT, AND THE AMOUNTS PAID BY TENANTS. DURING THE YEAR ENDED DECEMBER 31, 2011 AND PURSUANT TO THE SALE OF THE PROJECT TO THE THIRD PARTY, THE HAP CONTRACT WAS RENEWED WITH THE THIRD PARTY OF THE PROPERTY. THE CORPORATION ENTERED INTO A MASTER LEASE AGREEMENT WITH THE THIRD PARTY, WHICH TRANSFERRED ALL RIGHTS AND OBLIGATIONS UNDER THE HAP CONTRACT BACK TO THE CORPORATION. DURING THE YEAR ENDED DECEMBER 31, 2013, THE TENANTS WERE RELOCATED TO THE ALTERNATE SITE, THE MASTER LEASE WAS TERMINATED AND THE HAP CONTRACT WAS TRANSFERRED. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT COMPANY: PEABODY PROPERTIES, 536 GRANITE STREET, BRAINTREE, MA 02184 781-794-1000. THE CORPORATION INCURRED A MANAGEMENT FEE OF $119,643 FOR THE YEAR ENDED DECEMBER 31, 2013. THE MANAGEMENT FEE IS EQUAL TO 4% OF TOTAL RENT COLLECTIONS. THE AGREEMENT WAS IN EFFECT UNTIL THE OPENING AND RELOCATION OF THE TENANTS TO THE RELOCATION SITE. FORM 990, PART VI, SECTION A, LINE 6 FIFTEEN INCORPORATORS SIGNED AGREEMENT ON MAY 9, 1969 TO FORM "A PRIVATE CORPORATION UNDER AND SUBJECT TO THE PROVISIONS OF CHAPTER 121A OF THE (MASSACHUSETTS) GENERAL LAWS AND TO PROVIDE, ON A NON-PROFIT BASIS, PURSUANT TO SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, HOUSING FOR THE USE AND OCCUPANCY BY FAMILIES DISPLACED FROM URBAN RENEWAL AREAS OR BY GOVERNMENT ACTION AND BY FAMILIES OF LOW OR MODERATE INCOME WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS, AND ALSO FOR ITSELF OR OTHER PERSONS IDENTITFIED HEREWITH. THE CORPORATION IS IRREVOCABLY DEDICATED TO, AND OPERATED EXCLUSIVELY FOR, NON-PROFIT PURPOSES." FORM 990, PART VI, SECTION A, LINE 7A FROM THE ARTICLES OF ORGANIZATION,"THE CORPORATION SHALL HAVE AN ODD NUMBER OF DIRECTORS, NOT LESS THAN THREE, AS FIXED BY THE BYLAWS, WHO SHALL BE ELECTED BY THE STOCKHOLDERS, AND WHO SHALL SERVE UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED." FORM 990, PART VI, SECTION A, LINE 7B ACCORDING TO THE BYLAWS "THE DIRECTORS SHALL BE ELECTED BY THE STOCKHOLDERS AT THE ANNUAL MEETING", AND "THE BUSINESS OF THE CORPORATION SHALL BE MANAGED BY (THE) BOARD OF DIRECTORS..." AND "A DIRECTOR MAY BE REMOVED FROM OFFICE (A)...BY A VOTE OF A MAJORITY OF THE STOCKHOLDERS...OR (B) FOR CAUSE BY A MAJORITY OF THE DIRECTORS...". FORM 990, PART VI, SECTION A, LINE 8B NOT APPLICABLE FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD TREASURER BEFORE FILING. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST