2014-08-14T16:15:16-05:00 2013-12-31 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2013-01-01 042944144 HOUSING CORPORATION OF ARLINGTON HOUS 7813163429 20 ACADEMY STREET NO G-11 ARLINGTON MA 02476 THOMAS NEE TREASURER 7813163429 2014-08-12 1 MATTHEW MCGINNIS CPA P01585083 5083669100 2014-08-12 2013 2015-11-30 17:44:51Z THOMAS NEE 20 ACADEMY STREET ARLINGTON MA 02476 2809328 0 X WWW.HOUSINGCORPARLINGTON.ORG X 1986 MA THE HOUSING CORPORATION OF ARLINGTON PROVIDES AND ADVOCATES FOR DECENT, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES AND INDIVIDUALS IN ARLINGTON AND SURROUNDING COMMUNITIES, WHILE PROMOTING SOCIAL AND ECONOMIC DIVERSITY. 12 12 5 100 0 0 330164 633266 1056097 1284944 249 189 97801 885664 1484311 2804063 90850 22589 0 0 255006 267261 0 0 35014 1293230 990569 1639086 1280419 -154775 1523644 12522508 12792949 13171770 12974899 -649262 -181950 TO ACQUIRE, DEVELOP, IMPROVE, SELL, MANAGE (MORTGAGE, REMORTGAGE) AND LEASE AFFORDABLE HOUSING IN THE TOWN OF ARLINGTON FOR LOW AND MODERATE INCOME FAMILIES AND TO PROVIDE OTHER SOCIAL AND CIVIC SERVICES TO BENEFIT LOW AND MODERATE INCOME MEMBERS OF SOCIETY. 0 0 1140638 0 2175873 THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELS BELOW MARKET RATES. THE PROGRAM WAS PROVIDED THROUGH 58 RENTAL UNITS OWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTS IN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATION OF ARLINGTON THAT WERE ATTRIBUTABLE TO THE OVERALL AFFORDABLE HOUSING PROGRAM. 22589 22589 IN 2013, THE HOMELESS PREVENTION PROGRAM PROVIDED GRANTS TO APPROXIMATELY 28 AT-RISK HOUSEHOLDS ON THE VERGE OF LOSING THEIR HOUSING. THE MAJORITY OF THESE GRANTS WERE USED FOR MOVING EXPENSES AND TO PAY BACK RENT. 1163227 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 34 0 1 5 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X PAMELA HALLETT 7813163429 20 ACADEMY STREET ARLINGTON MA 02476 PAUL PARRAVANO PRESIDENT 2.00 X X 0 0 0 THOMAS NEE TREASURER 2.00 X X 0 0 0 PAMELA BALDWIN DIRECTOR 2.00 X 0 0 0 GREGORY BOWE DIRECTOR 2.00 X 0 0 0 JANET BLODGETT DIRECTOR 2.00 X 0 0 0 JACK COOPER DIRECTOR 2.00 X 0 0 0 MARC DOHAN DIRECTOR 2.00 X 0 0 0 CARL FLUMERFELT DIRECTOR 2.00 X 0 0 0 NEAL MONGOLD DIRECTOR 2.00 X 0 0 0 MARY-ANNE MORRISON DIRECTOR 2.00 X 0 0 0 MARYLOU VEST DIRECTOR 2.00 X 0 0 0 DEIRDRE WESTCOTT DIRECTOR 2.00 X 0 0 0 PAMELA HALLETT EXECUTIVE DIRECTOR 40.00 X 93303 0 7005 93303 0 7005 0 0 0 0 0 X 38035 485592 109639 633266 RENTAL INCOME 531110 716662 716662 DEVELOPER FEES & REIMB 531110 568282 568282 1284944 189 189 0 38035 5265 -5265 -5265 PROCEEDS FROM SALE OF 531390 886332 886332 MISCELLANEOUS 531110 4597 4597 890929 2804063 2175873 0 -5076 22589 22589 100308 77236 10031 13041 130649 100204 14626 15819 17270 12780 2072 2418 19034 14085 2284 2665 37840 37840 6658 940 5718 15947 3330 11987 630 3153 2334 378 441 36717 36717 503783 489861 13922 1830 1830 1950 1950 337635 337635 MISCELLANEOUS 21858 21858 NON-RECOVERABLE COSTS 21160 21160 EQUIPMENT RENTAL 2038 2038 1280419 1163227 82178 35014 67372 289876 287844 303207 28269 0 43673 15145 21982 26395 14622286 2984987 11822180 11637299 251188 521027 12522508 12792949 68864 53754 54813 54196 13048093 12866949 13171770 12974899 X -687708 -366801 38446 184851 -649262 -181950 12522508 12792949 X 1523644 -1056332 X X 0 1 X 1 1 1 X 310355 395324 257755 330164 633266 1926864 310355 395324 257755 330164 633266 1926864 40996 1885868 412 532 130 249 189 1512 628 648 4312 1524 4597 11709 1940085 4555796 0.97210 0.94830 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 1749615 1749615 9914483 2473115 7441368 2950582 505119 2445463 7606 6753 853 11637299 X PART IV, LINE 2B: HCA MAINTAINS TENANT SECURITY DEPOSITS IN A CUSTODIAL CAPACITY IN ACCORDANCE WITH TENANT RENTAL AGREEMENTS. PART X, LINE 2: HCA FOLLOWS THE STANDARDS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRE INTEREST AND PENALTIES, AND TO ADJUST THEIR CONSOLIDATING FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. AS OF DECEMBER 31, 2013, HCA DETERMINED THAT THEY HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. HCA FILES INCOME TAX AND INFORMATION RETURNS IN THE UNITED STATES FEDERAL AND MASSACHUSETTS STATE JURISDICTIONS. THESE RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR THE LAST THREE YEARS. WALK FOR AFFORDABLE HOUSING 38035 38035 5265 38035 38035 5265 5265 -5265 1 HOMELESS PREVENTION PROGRAM 28 22589 FMV PART I, LINE 2: THE HOMELESSNESS PREVENTION PROGRAM WAS CREATED TO PROVIDE EMERGENCY FINANCIAL SUPPORT TO ARLINGTON RESIDENTS FACING EVICTION DUE TO AN UNEXPECTED CRISIS. THE PROGRAM PROVIDES GRANTS TO ASSIST WITH BACK RENT, AN UNEXPECTED CRISIS OR SECURITY DEPOSITS. GRANTS ARE CAPPED AT $1,500 AND GIVEN ONLY IN CASES IN WHICH THE ASSISTANCE WILL STABILIZE HOUSING FOR A RESIDENT FOR AT LEAST A SIX MONTH PERIOD. FORMAL PROGRAM GUIDELINES SET FORTH ELIGIBLE COSTS, INCOME LIMITS OF APPLICANTS, AND FUNDING LIMITS. THE PROGRAM IS ADMINISTERED BY HCA. A COMMITTEE COMPOSED OF THREE MEMBERS CHOSEN FROM THE TOWN OF ARLINGTON COUNCIL ON AGING, A COMMUNITY APPOINTEE AND BOARD MEMBER REVIEW ALL APPLICANTS AND MAKES A RECOMMENDATION FOR GRANTS. MANAGEMENT OF HCA MAKES THE FINAL FUNDING DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 HCA'S EXECUTIVE DIRECTOR AND FINANCE COMMITTEE REVIEW A DRAFT OF THE FORM 990. ONCE APPROVED BY THE EXECUTIVE DIRECTOR AND FINANCE COMMITTEE A FINAL VERSION OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C HCA REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY HAVING THE BOARD MEMBERS SIGN THIS POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE REVIEWED BY THE BOARD OF DIRECTORS TO ENSURE THEY ARE COMPARABLE TO SIMILAR ORGANIZATIONS AND REASONABLE FOR THE DUTIES BEING PERFORMED. THE SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THESE ITEMS ARE AVAILABLE UPON REQUEST. FORM 990, PART VIII, LINE 11A: HOUSING CORPORATION OF ARLINGTON RECEIVED $886,332 IN PROCEEDS FROM A LOCAL BANK IN EXCHANGE FOR STATE HISTORIC TAX CREDITS. THE PROCEEDS WERE THEN LOANED INTO A RELATED PROJECT (SEE SCHEDULE R, PART III AND PART V). THE LOAN ALSO HAS A VALUATION ALLOWANCE AGAINST IT FOR THE SAME AMOUNT (SEE PART XI LINE 9) AS THE LOAN WILL NOT BE RECOVERABLE IN THE NEAR FUTURE. THERE WAS NO DIRECT INCOME EVENT RELATING TO THIS SPECIFIC TRANSACTION DURING 2013. FORM 990, PART XI, LINE 9: PROVISION ALLOWANCE ON NOTES RECEIVABLE - RELATED PARTY. -1,056,332. FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED IN 2013. ACADEMY DEVELOPMENT PARTNERS INC 20 ACADEMY STREET ARLINGTON MA 02476 371654418 AFFORDABLE HOUSING MA 501(C)(3) LINE 7 N/A 0 CAPITOL SQUARE APARTMENTS LLC 20 ACADEMY STREET ARLINGTON MA 02476 460615711 RENTAL REAL ESTATE MA 252 258-260 MASS AVE LLC N/A 1 0 252 258-260 MASS AVE LLC 20 ACADEMY STREET ARLINGTON MA 02476 800898408 RENTAL REAL ESTATE MA N/A C -1285 0.79000 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 CAPITOL SQUARE APARTMENTS LLC D 389535 FAIR MARKET VALUE CAPITOL SQUARE APARTMENTS LLC D 4350993 FAIR MARKET VALUE CAPITOL SQUARE APARTMENTS LLC L 753674 FAIR MARKET VALUE CAPITOL SQUARE APARTMENTS LLC D 1056332 FAIR MARKET VALUE