2012-11-15T13:13:40-06:00 2011-12-31 043097400 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2011-01-01 237099102 CHARLESVIEW INC CO PEABODY PROPERTIES INC CHAR 7817941000 536 GRANITE STREET BRAINTREE MA 02184 ROBERT FOX 7817941000 2012-11-07 1 KRISTIN LABONTE P00744707 7813803520 2012-11-07 2011 2016-02-24 21:20:13Z FATHER FRANK GLYNN 536 GRANITE STREET BRAINTREE MA 02184 99908248 0 X N/A X 1969 MA TO PROVIDE AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME IN ALLSTON, MASSACHUSETTS. 13 13 0 0 0 0 2079754 2893739 1249784 1399898 5280 70289510 21284 52288 3356102 74635435 0 918925 0 0 0 0 0 0 0 2727962 11912243 2727962 12831168 628140 61804267 11442447 64683865 8929921 367072 2512526 64316793 X TO PROVIDE AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME IN ALLSTON, MASSACHUSETTS. 1 1 3170601 89346770 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. IS STILL OPERATING THE AFFORDABLE HOUSING PROJECT ON BEHALF OF THE THIRD PARTY BUYER. 9660567 918925 99245 PROVIDE FINANCING TO DEVELOP AFFORDABLE HOUSING PROJECT. 12831168 1 1 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 20 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 1 1 1 1 0 0 0 1 1 0 0 1 1 0 0 0 MA X JUSTIN PAQUETTE 7817941000 PEABODY PROPERTIES INC 536 GRANITE BRAINTREE MA 02184 X RABBI ABRAHAM HALBFINGER 0.20 X 0 0 0 ROBERT FOX 0.20 X X 0 0 0 MARIE ACE 0.20 X X 0 0 0 FATHER FRANK GLYNN 0.20 X X 0 0 0 WILLIAM ROSENBERG 0.20 X 0 0 0 DR LAWRENCE FIORENTINO 0.20 X 0 0 0 ETTA ANDERSON 0.20 X 0 0 0 LILLIAN BURGESS 0.20 X 0 0 0 RABBI AZRIEL BLUMBERG 0.20 X X 0 0 0 REV SAM JOHNSON 0.20 X 0 0 0 PAUL FLECK 0.20 X 0 0 0 LORI LAMPERT 0.20 X 0 0 0 ROBERT MARSHALL 0.20 X 0 0 0 0 0 0 0 0 0 0 PEABODY PROPERTIES 536 GRANITE STREET BRAINTREE MA 02184 OFFICE, MAINTENANCE AND OTHER SERVICES 608628 PEABODY PROPERTIES 536 GRANITE STREET BRAINTREE MA 02184 MANAGEMENT FEE 206586 2 2893739 2893739 TENANT RENT 531110 1300653 1300653 INTEREST ON NOTES RECE 900099 99245 99245 1399898 7406 7406 95554917 25272813 70282104 70282104 87993829 -17711725 LAUNDRY & VENDING 531390 33602 33602 STORES & COMMERCIAL 531390 10200 10200 INSURANCE PROCEEDS 531390 1350 1350 7136 7136 52288 74635435 89446015 0 -17704319 918925 918925 206586 206586 16363 16363 54387 54387 572844 572844 675 675 62764 62764 2065363 2065363 163161 163161 DISCOUNT ON NOTES RECEI 8741642 8741642 ADMINISTRATIVE EXPENSES 23295 23295 OTHER RENTING EXPENSES 5073 5073 MISC TAXES, LICENSES, P 90 90 12831168 12831168 0 0 355435 965273 29689 137170 61650891 30395 33068 0 4460421 6566507 1897463 11442447 64683865 138989 239942 27197 50087 67043 4697528 10000 4066207 0 8929921 367072 X 2512526 64316793 2512526 64316793 11442447 64683865 61804267 0 X 0 1 1 X 1 1 X 1757796 1816401 1865356 2079754 2893739 10413046 1237632 1280454 1305512 1249784 1399898 6473280 2995428 3096855 3170868 3329538 4293637 16886326 0 0 0 16886326 26445 23546 12245 5280 7406 74922 26445 23546 12245 5280 7406 74922 34504 29641 50924 21284 52288 188641 3056377 3150042 3234037 3356102 4353331 17149889 0.98460 0.98200 0.00440 0.00610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 74635435 12831168 61804267 61804267 74635435 0 74635435 0 74635435 12831168 0 12831168 0 12831168 PART IV, LINE 2B: CHARLESVIEW, INC. HAS TENANT DEPOSITS HELD IN TRUST OF $67,043 FOR THE YEAR ENDED DECEMBER 31, 2011. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2011, THE CORPORATION HAS NO MATERIAL UNCERTAIN TAX POSITIONS TO BE ACCOUNTED FOR IN THE FINANCIAL STATEMENTS. THE CORPORATION RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE. ALL TAX YEARS PRIOR TO 2008 ARE CLOSED VIA THE PASSING OF THE STATUTE OF LIMITATIONS. NO NOTICES HAVE BEEN RECEIVED FROM EITHER THE INTERNAL REVENUE SERVICE OR COMMONWEALTH OF MASSACHUSETTS ADDRESSING ANY SUBSEQUENT YEAR. 1 TELFORD STREET HOMEOWNERSHIP LLC 95 BERKELEY STREET BOSTON MA 02116 042324773 504669 ASSIST IN THE DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS BRIGHTON MILLS HOMEOWNERSHIP LLC 95 BERKELEY STREET BOSTON MA 02116 042324773 414256 ASSIST IN THE DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS 2 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: A COMMON DEVELOPER IS DEVELOPING THE PROJECTS AND REPORTING BACK TO CHARLESVIEW. SEE PART III 2011-06-30 92633321 SEE PART III 042103580 PRESIDENT AND FELLOWS OF HARVARD COLLEGE 1350 MASS AVENUE CAMBRIDGE MA 02138 501(C)(3) 0 0 0 0 PART II, LINE 1(A) DESCRIPTION OF ASSET(S) DISTRIBUTED:ON JUNE 30, 2011 THE CORPORATION CLOSED ON A PURCHASE AND SALE AGREEMENT WITH A THIRD PARTY RELATING TO THE EXCHANGE OF THE EXISTING EXEMPT USE CHARLESVIEW APARTMENTS REAL PROPERTY FOR A RELOCATION SITE AND OTHER SITES IN THE SAME NEIGHBORHOOD OWNED BY AN UNRELATED TAXABLE ENTITY.PART II, LINE 1(D) METHOD OF DETERMINING FMV FOR ASSETS DISTRIBUTED:CASH RECEIVED OF $72,000,000 PLUS FAIR VALUE OF VARIOUS PROPERTIES RECEIVED PER TAX ASSESSMENTS. THE TELFORD STREET HOMEOWNERSHIP SITE HAS AN ASSESSED TAX VALUE OF $2,154,000. THE BRIGHTON HOMEOWNER/RENTAL PROPERTY SITE HAS AN ASSESSED TAX VALUE OF $32,596,000. THIS ASSESSMENT WAS BASED ON 563,674 SQUARE FEET. HOWEVER, ONLY 319,558 SQUARE FEET WERE TRANSFERRED RESULTING IN A TAX VALUE OF $18,479,321 FOR PROPERTY TRANSFERRED. NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 DURING THE YEAR ENDED DECEMBER 31, 2007, THE CORPORATION ENTERED INTO A PURCHASE AND SALE AGREEMENT WITH A THIRD PARTY RELATING TO THE EXCHANGE OF THE EXISTING CHARLESVIEW APARTMENTS REAL PROPERTY (THE "EXISTING SITE") FOR AN ALTERNATE SITE (THE "RELOCATION SITE") AND OTHER SITES (THE "OTHER SITES") IN THE SAME NEIGHBORHOOD. DURING THE YEAR ENDED DECEMBER 31, 2011 THE CORPORATION SOLD THEIR PURCHASE RIGHTS TO THE OTHER SITES AND RELOCATION SITES IN EXCHANGE FOR NOTES RECEIVABLE, IN ORDER TO PROVIDE FINANCING FOR DEVELOPMENT OF VARIOUS AFFORDABLE HOUSING PROJECTS. CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 DURING THE YEAR ENDED DECEMBER 31, 2007, THE CORPORATION ENTERED INTO A PURCHASE AND SALE AGREEMENT WITH A THIRD PARTY RELATING TO THE EXCHANGE OF THE EXISTING CHARLESVIEW APARTMENTS REAL PROPERTY (THE "EXISTING SITE") FOR AN ALTERNATE SITE (THE "RELOCATION SITE") AND OTHER SITES (THE "OTHER SITES") IN THE SAME NEIGHBORHOOD. ON JUNE 30, 2011 THE CORPORATION CLOSED ON THE PURCHASE AND SALE AGREEMENT. IN CONNECTION WITH THE CLOSING ON THE PURCHASE AND SALE AGREEMENT, THE CORPORATION ENTERED INTO A MASTER LEASE AGREEMENT WITH THE THIRD PARTY, WHEREBY THE CORPORATION WILL CONTINUE TO OPERATE THE EXISTING SITE ON BEHALF OF THE THIRD PARTY UNTIL THE DEVELOPMENT OF THE RELOCATION SITE IS COMPLETE. THE CORPORATION IS NOT LIABLE FOR ANY FIXED RENT, BUT WILL BE LIABLE FOR ALL REPAIR AND MAINTENANCE COSTS INCURRED DURING THE TERM OF THE LEASE. 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 $206,586 FOR THE YEAR ENDED DECEMBER 31, 2011. THE MANAGEMENT FEE IS EQUAL TO 5% OF TOTAL RENT COLLECTIONS. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION, OR THE MANAGEMENT AGENT. 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 THE BOARD OF DIRECTORS REVIEWS THE 990 BEFORE IT IS SUBMITTED. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST