2012-08-09T09:57:54-05:00 2011-12-31 043097400 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2011-01-01 042679926 BRIGHTON ALLSTON ELDERLY HOMES INC BRIG 7818490011 C/O CORCORAN MGMT CO 100 GRANDVIEW RD NO 207 BRAINTREE MA 02184 JAMES CREAMER 7818490011 2012-08-02 1 KRISTIN LABONTE P00744707 7813803520 2012-08-02 2011 2016-02-24 21:20:13Z JAMES CREAMER 59 ALDIE ST ALLSTON MA 02134 1200397 0 X N/A X 1978 MA TO PROVIDE EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS 8 8 0 0 0 0 895430 939473 234986 253288 2553 1800 20795 5836 1153764 1200397 0 0 0 0 0 0 0 0 0 1116931 1110887 1116931 1110887 36833 89510 2853004 2913172 4093192 4063850 -1240188 -1150678 TO PROVIDE AFFORDABLE RENTAL UNITS FOR ELDERLY AND HANDICAPPED PERSONS 0 0 1110887 259124 PROVIDED EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS 1110887 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 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 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 MA X CORCORAN MANAGEMENT CO INC 7818490014 100 GRANDVIEW ROAD SUITE 207 BRAINTREE MA 02184 X KAREN SMITH 1.00 X 0 0 0 WILLIAM CORRIGAN 1.00 X 0 0 0 JAMES CREAMER 1.00 X X 0 0 0 JANE MCHALE 1.00 X 0 0 0 MARY DOLAN 1.00 X 0 0 0 BOB MARSHALL 1.00 X X 0 0 0 JIM GIBBONS 1.00 X 0 0 0 HELENA CREAMER 1.00 X X 0 0 0 0 0 0 0 0 0 0 CORCORAN MANAGEMENT COMPANY 100 GRANDVIEW ROAD SUITE 207 BRAINTREE MA 02184 MANAGEMENT SERVICES 240272 1 939473 939473 TENANT RENTAL INCOME 531110 253288 253288 253288 1800 1800 LAUNDRY & OTHER INCOME 531110 4523 4523 TENANT CHARGES 531110 1313 1313 5836 1200397 259124 0 1800 69102 69102 2410 2410 17590 17590 174727 174727 368 368 34372 34372 719811 719811 49 49 88888 88888 BAD DEBT 3136 3136 434 434 1110887 1110887 0 0 167036 144197 1215 6166 34984 35714 4071651 2393287 1723487 1678364 926282 1048731 2853004 2913172 186284 207434 3187 1580 19842 18978 3883879 3835858 4093192 4063850 X -1240188 -1150678 -1240188 -1150678 2853004 2913172 89510 0 X X 0 1 1 X 1 1 X 779613 826124 853127 895430 939473 4293767 253017 266261 242368 234986 253288 1249920 1032630 1092385 1095495 1130416 1192761 5543687 0 0 0 5543687 7186 5325 3377 2553 1800 20241 7186 5325 3377 2553 1800 20241 5177 5920 20561 20795 5836 58289 1044993 1103630 1119433 1153764 1200397 5622217 0.98600 0.98240 0.00360 0.00470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 256321 256321 3815330 2393287 1422043 1678364 TAX AND INSURANCE ESCROW 109308 RESERVE FOR REPLACEMENT 482336 TENANT SECURITY DEPOSIT ESCROW 23161 FINANCING FEES, NET OF ACCUMULATED AMORTIZATION 169408 SPECIAL DEVELOPMENT ESCROW 43079 RESIDUAL RECEIPTS RESERVE 206683 MORTGAGE INSURANCE PREMIUM ESCROW 14756 1048731 1200397 1110887 89510 89510 1217677 17280 17280 1200397 0 1200397 1128167 17280 17280 1110887 0 1110887 PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS OF FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS, WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA (GAAP) PRESCRIBE 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 PROJECT DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. THE PROJECT 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. FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION INCURRED A MANAGEMENT FEE OF $65,545, FOR THE YEAR ENDED DECEMBER 31, 2011 DUE TO CORCORAN MANAGEMENT COMPANY. THE MANAGEMENT FEE IS EQUAL TO 5.5% OF TOTAL GROSS COLLECTIONS. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION, OR THE CORCORAN MANAGEMENT COMPANY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE BOARD PRESIDENT BEFORE IT IS SIGNED FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE FORM 990 ARE MADE AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT CURRENTLY HAVE WRITTEN POLICIES RELATED TO CONFLICTS OF INTEREST, WHISTLEBLOWER PROTECTION OR DOCUMENT RETENTION AND DESTRUCTION. FORM 990, PART XII, LINE 2C EXPLANATION: THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE METHODS USED BY THE COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.