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        <OtherCostOrOtherBasis>8861030</OtherCostOrOtherBasis>
        <Depreciation>2978893</Depreciation>
        <BookValue>5882137</BookValue>
      </Buildings>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>152290</OtherCostOrOtherBasis>
        <Depreciation>127988</Depreciation>
        <BookValue>24302</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>7344224</TotalOfBookValueLandBuildings>
      <OtherAssets>
        <Description>INSURANCE ESCROW</Description>
        <BookValue>53901</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>TAX ESCROW</Description>
        <BookValue>14687</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>TENANT SECURITY DEPOSITS</Description>
        <BookValue>102012</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>DUE FROM AFFORDABLE HOUSING ALLIANCE</Description>
        <BookValue>1053446</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>PREPAID REAL ESTATE TAXES</Description>
        <BookValue>121719</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>RESIDUAL RECEIPTS</Description>
        <BookValue>56</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>TENANT SECURITY DEPOSIT RECEIVABLE</Description>
        <BookValue>1725</BookValue>
      </OtherAssets>
      <TotalBookValueOtherAssets>1347546</TotalBookValueOtherAssets>
      <OtherLiabilities>
        <Description>TENANT SECURITY DEPOSITS</Description>
        <Amount>103737</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>103737</TotalOfAmounts>
      <FootnoteInPartXIII>X</FootnoteInPartXIII>
      <TotRevenueEtcAuditedFinclStmt>1740309</TotRevenueEtcAuditedFinclStmt>
      <RevenueNotRptdF990>0</RevenueNotRptdF990>
      <RevenueSubtotal>1740309</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>1740309</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>1879852</TotExpensesEtcAuditedFinclStmt>
      <ExpensesNotRptdF990>0</ExpensesNotRptdF990>
      <ExpensesSubtotal>1879852</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>1879852</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIII>
        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X, LINE 2:</ReturnReference>
        <Explanation>THE CORPORATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAIN TAX POSITIONS, WHICH CLARIFIES THE ACCOUNTING AND RECOGNITION FOR TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS INCOME TAX RETURNS. THE CORPORATION RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNRECOGNIZED TAX BENEFITS THAT WILL SIGNIFICANTLY INCREASE OR DECREASE OVER THE NEXT TWELVE MONTHS, NOR HAS THE CORPORATION INCURRED ANY INTEREST OR PENALTIES RELATED TO INCOME TAX EXPENSE DURING THE YEAR ENDED DECEMBER 31, 2012. GENERALLY, IN ACCORDANCE WITH THE STATUTES OF LIMITATIONS, THE CORPORATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR RETURNS FILED FOR YEARS BEFORE 2008.</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>TAX FORM 990 REVIEWED BY SENIOR MANAGEMENT PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>FINANCIAL STATEMENTS AVAILABLE TO PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990 PART XII LINE 2C</ReturnReference>
        <Explanation>THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>AFFORDABLE HOUSING ALLIANCE</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>59 BROAD STREET</AddressLine1>
          <City>EATONTOWN</City>
          <State>NJ</State>
          <ZIPCode>07724</ZIPCode>
        </AddressUS>
        <EIN>223114280</EIN>
        <PrimaryActivities>PROVIDE AFFORDABLE HOUSING TO INDIVIDUALS</PrimaryActivities>
        <LegalDomicileState>NJ</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>170(B)(1)(A)(VI)</PublicCharityStatus>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>1</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>0</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>1</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>AFFORDABLE HOUSING ALLIANCE</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>D</TransactionType>
        <AmountInvolved>1053446</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>AFFORDABLE HOUSING ALLIANCE</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>O</TransactionType>
        <AmountInvolved>417411</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>