2012-11-15T15:13:22-06:00 2011-12-31 REZNICK GROUP PC 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 208146583 990 2011-01-01 521665967 NATIONAL FOUNDATION FOR AFFORDABLE HOUSING SOLUTIONS INC % TODD TRAVIS NATI 3019980440 11200 ROCKVILLE PIKE 220 ROCKVILLE MD 20852 todd travis 2012-11-15 true ED RYAN CPA 3016529100 2011 2016-02-24 21:20:13Z MARTIN SCHWARTZBERG 11200 ROCKVILLE PIKESTE 225 ROCKVILLE MD 20852 14477899 false X http://nfahs.com X 1990 DC THE FOUNDATION IS DEDICATED TO PRESERVING THE NATION'S EXISTING ASSISTED RENTAL HOUSING STOCK AND IS COMMITTED TO PROVIDING THEIR UNDERSERVED POPULATION with solutions and access to housing. 8 7 0 0 38084642 11030262 3788403 3435294 15924 12343 0 0 41888969 14477899 55500 47710 0 0 1263203 1098886 0 0 0 2474272 2357563 3792975 3504159 38095994 10973740 60802868 72394496 4858463 5877165 55944405 66517331 THE FOUNDATION IS DEDICATED TO PRESERVING THE NATION'S EXISTING ASSISTED RENTAL HOUSING STOCK AND IS COMMITTED TO PROVIDING THE UNDERSERVED POPULATION WITH SOLUTIONS AND BETTER ACCESS TO DECENT, SAFE AND WELL-MANAGED AFFORDABLE HOUSING AND COMMUNITY PROGRAMS AND SERVICES. false false 3299374 3435294 THE EO RESEARCHES VARIOUS APPROACHES TO ENSURE ADEQUATE AFFORDABLE HOUSING INCLUDING A TAX-BASED STRATEGY AND A NON-PROFIT CONVERSION STRATEGY. IT SPEAKS AND DEALS WITH INDUSTRY LEADERS, CREATES FINANCIAL MODELS AND PREPARES VARIOUS POSITION REMARKS. IT ALSO EXPLORES NON-PROFIT OWNERSHIP OF AFFORDABLE HOUSING. IN ADDITION, IT CREATES 509(A)(3) ORGANIZATIONS THAT ACQUIRE AFFORDABLE LOW INCOME HOUSING. 3299374 true true false false false false false false false true false false true false true false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false false true 0 0 true 0 true false false false false false false false false false false X 8 7 false false false false false false false true true false false true true true true false true true true false MD X TODD TRAVIS 3019980401 11200 ROCKVILLE PIKE ROCKVILLE MD 20852 X MARTIN C SCHWARTZBERG 40.0 X X 225000 0 0 DENISE MUHA 1.0 X 0 0 0 BERNARD BEAL MRBEAL CO 1.0 X ANTHONY COELHO 1.0 X REV MSGR WILLIAM LINDER 1.0 X JASON GOLDBLATT 1.0 X ROBERT WELTCHEK 1.0 X Jay Berman 1.0 X 0 NOAH NORDHEIMER 40.0 X 345985 JANET CHARLTON 40.0 X 275000 0 0 susan wilder 40.0 X 218000 eliot reid 40.0 X 272500 jaymar g joseph 40.0 X 143000 1479485 0 0 7 false true false STELLAR ADVISORS LLC 11200 ROCKVILLE PIKE SUITE 250 ROCKVILLE MD 20852 TECHNICAL ADVISORY 180596 Preservation Services LLC 11200 Rockville Pike Suite 250 ROCKVILLE MD 20852 technical advisory 692348 Stellar Realty LLC 2600 Tower Oaks Boulevard Suite ROCKVILLE MD 20852 technical advisory 170000 Green Wall Group LLC 16 Moulton Road SOUTHBOROUGH MA 01772 technical advisory 257953 4 10980262 50000 11030262 FEE INCOME 531110 120000 120000 INTEREST NOTE RECEIVABLE 531110 2379959 2379959 OTHER REVENUE 531110 456214 456214 REIMBURSED EXPENSES 531110 479121 479121 3435294 12343 12343 0 0 0 0 0 0 0 14477899 3435294 12343 47710 47710 0 0 0 882000 882000 0 167037 167037 0 0 49849 49849 0 113378 113378 119400 119400 0 0 0 459707 459707 0 158542 158542 0 0 73707 73707 0 0 0 287632 287632 0 121243 121243 18242 18242 OTHER EXPENSE 91998 91998 TUITION, DUES AND SUBSCRIPTION 22536 22536 OTHER GENERAL & ADMIN EXP 85385 85385 MANAGEMENT FEES 233195 233195 572598 572598 3504159 3299374 204785 0 1498808 2534166 9482423 9036480 0 0 384093 2630423 0 0 0 0 35076826 42623501 0 0 75000 0 327959 192379 119156 135580 0 0 0 0 0 0 0 0 14166562 15434346 60802868 72394496 104213 1122915 0 0 0 0 0 0 0 0 0 0 0 0 4754250 4754250 0 0 4858463 5877165 X 52621930 60293091 3322475 6224240 0 0 55944405 66517331 60802868 72394496 X 10973740 -400814 X false true true X false X 7681477 1327919 5239987 38084642 11030262 63364287 60000 60000 60000 3788403 3435294 7403697 7741477 1387919 5299987 41873045 14465556 70767984 70767984 705611 405857 380179 15924 12343 1519914 705611 405857 380179 15924 12343 1519914 9431 -1695 97999 105735 8456519 1792081 5778165 41888969 14477899 72393633 0.97754 0.96731 0.02100 0.03057 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 202705 96289 106416 125254 96090 29164 135580 ACQUISITION FEE (NET OF AMORT) 102140 FINANCING COSTS 127125 INTEREST RECEIVABLE 2917960 DEPOSITS 1237808 DUE FROM AFFILIATES 10989937 CONSTRUCTION IN PROGRESS 59376 15434346 0 0 fin 48 disclosure The Foundation has applied for and received a determination letter from the Internal Revenue Service (IRS) to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2011. Due to its tax exempt status, the Foundation is not subject to income taxes. The Foundation is required to file and does file tax returns with the IRS and other taxing authorities. None of the subsidiary entities had unrelated business income for the year ended December 31, 2011. Accordingly, these financial statements do not reflect a provision for income taxes. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Foundation and recognize a tax liability if the Foundation has taken an uncertain tax position that more likely than not would be sustained upon examination by a government authority. Management has analyzed the tax positions taken by the Foundation and has concluded that as of December 31, 2011, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Foundation is subject to routine audit by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2008. true EAGLE BANK FOUNDATION CO GOLD CLASSIC 7815 WOODMONT AVENUE BETHESDA MD 20814 501(C)(3) 12500 breast cancer research 14 MONITORING THE USE OF GRANT FUNDS Schedule I, Part I, Line 2 There is no method for monitoring grants paid Y X X false false false false false false false false true false MARTIN C SCHWARTZBERG 225000 0 0 0 0 0 0 0 0 0 225000 0 0 0 NOAH NORDHEIMER 110000 235985 345985 JANET CHARLTON 275000 0 0 0 0 0 0 0 0 0 275000 0 0 susan wilder 162000 56000 218000 eliot reid 220000 52500 272500 line 8 prior to her becoming a foundation employee, the NFAHS board of directors and the pertinent state housing finance agencies had approved the participation of an entity in which Charlton had an interest as the developer for three LIHTC redevelopment transactions. during 2010 payments of development fee were made for services rendered to three (3) limited partnerships in which affiliates of the national foundation for affordable housing solutions, inc. serve as general partner or managing member. such fees were paid for services rendered prior to 2010 and were paid from investor equity contributed to such partnerships by unrelated, third party tax credit investors. the development fee paid in each transaction are subject to certain federal and state governmental limitations as to gross amount and schedule for payments. line 9 not applicable governance PART VI, SECTION B, LINE 12C AN AFFIRMATIVE SIGNED STATEMENT OF NO CONFLICTS IS REQUIREd. governance PART VI, SECTION B, LINE 15B THE COMPENSATION COMMITTEE REVIEWS. THERE HAS BEEN VERY LITTLE CHANGE. governance PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE DURING NORMAL BUSINESS HOURS UPON REQUEST. reconciliation of net assets part Xi, line 5 distributions $(400,814) governance part vi, section b, quesiton 11a Prior to filing the 990 is vetted by members of the executive committee, and third party legal and acounting personal. final approval is then gived by the chairman of the board. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:MARTIN C. SCHWARTZBERG TITLE:PRESIDENT, CEO, CHAIRMAN HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:DENISE MUHA TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:BERNARD BEAL, M.R.BEAL & CO TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:ANTHONY COELHO TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:REV MSGR WILLIAM LINDER TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JASON GOLDBLATT TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:ROBERT WELTCHEK TITLE:DIRECTOR HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jay Berman TITLE:director HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:NOAH NORDHEIMER TITLE:SR. VP HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JANET CHARLTON TITLE:EXECUTIVE VICE PRESIDENT HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:susan wilder TITLE:general counsel HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:eliot reid TITLE:coo HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:jaymar g joseph TITLE:senior development manager HOURS:1 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:NON-REIMBURSABLE COSTS TOTAL EXPENSES:572598 PROGRAM SERVICES:572598 CLAIBORNE HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521795395 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false CHEMUNG VIEW HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521921440 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false GLENVIEW HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521965128 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false LONDONDERRY HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521795393 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false MOUNT CARMEL HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521920898 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false KISH HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521920903 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false HUNTINGTON HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521879282 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false BROOKSIDE HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521968153 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false COUNTRYSIDE HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521824857 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false GLENARDEN HOUSING OF MARYLAND INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521929847 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false KING HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521927975 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false INDIAN HEAD HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521927914 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false GLENREED HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521927912 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false WILLOW CREEK HOUSING INC 11200 ROCKVILLE PIKE 2ND FLR ROCKVILLE MD 20852 521963655 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false echelon housing inc 11200 ROCKVILLE PIKE 2ND FLOOR ROCKVILLE MD 20852 521880077 HOUSING MD 501(c)(3) 509(a)(3) NFAHS false 516 HUMBOLDT AFFORDABLE LLC 11200 ROCKVILLE PIKE STE 225 ROCKVILLE MD 20852 452022453 HOUSING MN NA RELATED -18634 81952 false false 0.01000 brookside general partner inc 11200 rockville pike suite 250 rockville MD 20852 274150955 real estate inves MD brookside hsg c corp 1.00000 glenview general partner llc 11200 rockville pike suite 250 rockville MD 20852 273751726 real estate inves MD glenview housin c corp -59 553220 1.00000 king housing inc 11200 rockville pike suite 250 rockville MD 20852 272684470 real estate inves MD king hsg inc c corp -109 3073 1.00000 glenarden Associates llc 11200 rockville pike suite 200 rockville MD 20852 274970928 real estate inves MD glenarden hsg c corp 2 1233 1.00000 glenreed associates llc 11200 rockville pike suite 200 rockville MD 20852 274974184 real estate inves MD glenreed hsg c corp 1606148 1.00000 false false true false false false false false false false true false false false false false true false CLAIBORNE HOUSING INC C 500000 CASH LONDONDERRY HOUSING INC C 450000 CASH KISH HOUSING INC C 31682 cash MOUNT CARMEL HOUSING INC Q 117644 FMV GLENVIEW HOUSING INC K 2111739 FMV KING HOUSING INC K 2696277 FMV BROOKSIDE HOUSING INC K 1423680 FMV GLENREED HOUSING INC c 3730256 cash GLENARDEN HOUSING OF MARYLAND INC c 6187151 cash Mid-Pine k 1120323 FMV Settlers Point k 621516 fmv glenarden housing of maryland inc k 1690882 fmv glenreed housing inc k 1265196 fmv Wimbledon q 82358 fmv maple knoll q 75070 fmv lewis park q 142067 fmv shadley apts q 68332 fmv humboldt afford q 180760 fmv court view towers q 54492 fmv willow creek q 50667 fmv springdale q 127082 fmv mt carmel apts q 117644 fmv glenview q 220483 fmv