2012-08-14T18:26:36-05:00 2011-12-31 263874426 HOLDEN & COMPANY LLP 68 MITCHELL BLVD SUITE 240 SAN RAFAEL CA 94903 990 2011-01-01 237071540 CONCORD HOMES INC CONC 9256871200 2020 GRANT STREET CONCORD CA 94520 ROSE MARIE HANSEN 9256871200 2012-07-31 1 THOMAS J HOLDEN P00507742 4154724225 2012-07-31 X 2011 2016-02-24 21:20:13Z ROSE MARIE HANSEN 2020 GRANT STREET CONCORD CA 94520 4503222 0 X N/A X 1975 CA THE CORPORATION'S MISSION IS TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. 5 5 0 5 0 0 1110002 1139242 1145524 1174431 1948066 2189549 0 0 4203592 4503222 0 0 0 0 362443 366416 0 0 0 1395707 1520194 1758150 1886610 2445442 2616612 22886754 25439439 1545298 1480641 21341456 23958798 THE CORPORATION'S MISSION IS TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. 0 0 1867232 1174431 THE CORPORATION WAS ORGANIZED TO OWN AND OPERATE AN APARTMENT COMPLEX INCLUDING FOOD SERVICE, CONSISTING OF 196 RENTAL UNITS FOR LOW-INCOME ELDERLY PERSONS IN CONCORD, CA, UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. 1867232 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 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 1 1 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 CA X BARCELON ASSOCIATES MANAGEMENT CORP 9256871200 2020 GRANT STREET CONCORD CA 94520 X ROSE MARIE HANSEN 1.00 X X 0 0 0 LEE CULEMANN 1.00 X X 0 0 0 FRANK FRIBLEY 1.00 X X 0 0 0 DENNIS HORGAN 1.00 X 0 0 0 GARY ROWE 1.00 X 0 0 0 0 0 0 0 0 0 0 SODEXHO 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 261442 1 1139242 1139242 TENANT RENTS 531110 847554 847554 FOOD SERVICE 531110 260593 260593 CABLE TV REIMBURSEMENT 531110 40226 40226 FACILITY RENT-GROUND L 531110 13900 13900 LAUNDRY & OTHER TENANT 531110 10656 10656 1502 1502 1174431 2189549 2189549 4503222 1174431 0 2189549 316422 316422 23965 23965 26029 26029 129460 116514 12946 7850 7065 785 544 544 56472 50825 5647 12840 12840 2099 2099 89951 89951 215192 215192 73252 73252 REPAIRS AND MAINTENANCE 343873 343873 SERVICE EXPENSES 264535 264535 UTILITIES 245503 245503 PROPERTY TAXES 67628 67628 10995 10995 1886610 1867232 19378 0 87174 134788 231609 182489 1390 6905 1330575 1330575 43353 43090 6142204 4882825 1211417 1259379 365692 395000 19615544 22087213 22886754 25439439 85113 240599 1385524 1163437 74661 76605 1545298 1480641 X 21341456 23958798 21341456 23958798 22886754 25439439 X 2616612 730 X X 0 1 1 X 1 1 X 553671 566625 787206 1110002 1139242 4156746 553671 566625 787206 1110002 1139242 4156746 4156746 1473050 1514735 1773206 1948066 2189549 8898606 13055352 0.31840 0.30710 X THE OGANIZATION OPERATES A LOW-INCOME HOUSING PROJECT, INCLUDING DAILY FOOD SERVICE, FOR THE BENEFIT OF ELDERLY PERSONS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT (AN "OLD AGE HOME" FOR THE PUBLIC) AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO OPERATING METHODS, TENANT RENTS AND TENANT INCOME ELIGIBILITY.THE ORGANIZATION MAINTAINS A CONTINUOUS PROGRAM FOR SOLICITATION OF FUNDS FROM THE PUBLIC AND GOVERNMENTAL UNITS AND, AS A RESULT, HAS ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (SECTION 8 ASSISTANCE) WITH THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ON BEHALF OF QUALIFIED LOW-INCOME TENANTS. THE CURRENT CONTRACT DOES NOT EXPIRE UNTIL JULY 2029. HUD HAS ESTABLISHED VARIOUS GUIDELINES FOR THE RENEWAL OF THESE CONTRACTS AND THE ORGANIZATION MAINTAINS COMPLIANCE WITH THE REQUIRED GUIDELINES TO ASSURE THE POTENTIAL OF OBTAINING FURTURE SECTION 8 FUNDING FROM HUD UPON THE EXPIRATION OF THE CURRENT CONTRACT IN 2029.IN ADDITION, THE ORGANIZATION HAS AN INTEREST REDUCTION PAYMENT CONTRACT WITH HUD UNDER WHICH HUD, FOR THE BENEFIT OF THE ORGANIZATION, PAYS A SPECIFIED PORTION OF THE MONTHLY MORTGAGE PAYMENT DUE ON THE MORTGAGE THAT WAS ORIGINALLY INCURRED TO AQUIRE AND REHABILITATE THE LOW-INCOME HOUSING PROJECT. THE CONTRACT REQUIRES THE ORGANIZATION TO CONTINUE TO PROVIDE LOW-INCOME HOUSING TO THE PUBLIC IN COMPLIANCE WITH REGULATIONS, OPERATING METHODS, AND TENANT RENT AND INCOME ELIGIBILITY REQUIREMENTS ESTABLISHED BY HUD. THE INTEREST REDUCTION PAYMENT CONTRACT EXPIRES IN 2016, AT WHICH TIME THE MORTGAGE WILL BE PAID IN FULL.FOR 2010, THE ORGANIZATION RECEIVED SUPPORT FROM HUD IN THE FORM OF $949,000 OF SECTION 8 ASSISTANCE PAYMENTS AND $100,291 OF INTEREST REDUCTION PAYMENTS.THE OTHER SOURCES OF SUPPORT (ON AN ACCRUAL BASIS) FOR 2011, AS DEFINED BY REG SUBSECTION 1.170A-9T(F)(7)(I), WERE INTEREST INCOME OF $2,160,241 AND DIVIDEND INCOME OF $29,308.OF THE $2,160,241 OF INTEREST INCOME FOR 2010, $1,981,665 WAS ACCRUED (AND UNPAID) INTEREST RECEIVABLE FROM A RELATED ENTITY FOR DEBTS DUE TO THE ORGANIZATION FOR AMOUNTS LOANED TO THE RELATED ENTITY TO OBTAIN, REHABILITATE AND OPERATE A SEPARATE GOVERNMENT REGULATED LOW-INCOME HOUSING PROJECT FOR THE ELDERLY. THE PRINCIPAL AND INTEREST ARE DEFERRED, AND NO PAYMENTS OF PRINCIPAL OR INTEREST HAVE EVER BEEN RECEIVED ON THE NOTE RECEIVABLE OR THE RELATED ACCRUED INTEREST RECEIVABLE.ON A CASH BASIS, ONLY $2,814 OF INTEREST AND $29,308 OF DIVIDENDS WERE ACTUALLY RECEIVED IN 2011 ON BANK AND INVESTMENT ACCOUNTS.AT DECEMBER 31, 2011, THE BOARD OF DIRECTORS OF THE ORGANIZATION WAS COMPOSED OF FIVE NON-PAID VOLUNTEERS FROM THE CONCORD, CALIFORNIA COMMUNITY, NONE OF WHICH WERE SIGNIFICANT DONORS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 245762 245762 4937432 4247401 690031 959010 635424 323586 1259379 TENANT SECURITY DEPOSITS 82537 ACCRUED INTEREST ON LOAN RECEIVABLE 18831506 ESCROWS HELD BY MORTGAGE 29959 PLAZA TOWER ASSOCIATES 94714 REPLACEMENT RESERVES 455549 RESIDUAL RECEIPTS RESERVE 574646 EXCESS INCOME RESERVE 35904 SALVIO GRANT LAND PARTNERSHIP 1982398 22087213 TENANT SECURITY DEPOSITS 76172 PREPAID REVENUE 433 76605 4503222 1886610 2616612 730 730 2617342 2211134 0 2211134 2292088 2292088 4503222 1795811 0 1795811 90799 90799 1886610 PART XI, LINE 8 - OTHER ADJUSTMENTS: BOARD ACCTS NET CHANGE; NOT ON FINANCIAL STATMENTS 730. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOARD ACCOUNT REVENUE 2,202,137. MORTGAGE INTEREST PAID BY HUD 89,951. PART XIII, LINE 4B - OTHER ADJUSTMENTS: BOARD ACCOUNT EXPENSES 848. MORTGAGE INTEREST PAID BY HUD 89,951. FORM 990, PART VI, SECTION A, LINE 3 DESCRIPTION OF DELEGATED DUTIES TO MANAGEMENT COMPANY - THE MANAGEMENT COMPANY WAS RESPONSIBLE FOR THE DAY TO DAY OPERATIONS OF THE LOW-INCOME HOUSING PROJECT, INCLUDING TENANT SELECTION AND CERTIFICATION, RENT COLLECTION, HIRING AND SUPERVISION OF EMPLOYEES (ALL PROJECT STAFF WERE EMPLOYEES OF THE MANAGEMENT COMPANY), FACILITY MAINTENANCE, ETC. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO SEPARATE COMMITTEES WITHIN THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW PROCESS - THE FORM 990 IS REVIEWED BY THE MANAGEMENT COPMPANY, PRESENTED TO THE BOARD OF DIRECTORS AND THEN SIGNED BY A MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE - DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE MANAGEMENT AGENT'S OFFICE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: BOARD ACCTS NET CHANGE; NOT ON FINANCIAL STATMENTS 730. TOTAL TO FORM 990, PART XI, LINE 5: 730. FORM 990, PART XII, LINE 2C. THE BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS; THE BOARD REVIEWS AND APPROVES A DRAFT OF THE AUDITED FINANCIAL STATEMENTS PRIOR TO ITS RELEASE. THE BOARD OF DIRECTORS ALONG WITH THE MANAGEMENT COMPANY OVERSEE THE SELECTION OF AUDITOR. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CONCORD PLAZA TOWER INC 2020 GRANT STREET CONCORD CA 94520 942984887 LOW INCOME HOUSING CA 501(C)(3) LINE 9 N/A 0 SALVIO-GRANT LAND PARTNERSHIP 1950 PARKSIDE DRIVE CONCORD CA 94519 680095668 FACILITY RENT CA N/A RELATED 175762 1982398 0 1 PLAZA TOWER ASSOCIATES 2020 GRANT STREET CONCORD CA 94520 680089688 LOW-INCOME HOUSING CA CONCORD PLAZA TOWER INC RELATED 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PLAZA TOWER ASSOCIATES D 1330575 PROMISSORY NOTE