2011-03-10T15:24:55-06:00 2010-06-30 CLIFTON GUNDERSON LLP 500 MARQUETTE NW SUITE 800 ALBUQUERQUE NM 87102 990 2009-07-01 850388252 YES Housing Inc YESH 5052541373 104 Roma NW Albuquerque NM 87102 Augustine C Baca 5052541373 2011-02-18 1 Stephen E Livingston CPA 5058428290 2009 2016-02-24 21:20:13Z Augustine C Baca 104 Roma NW Albuquerque NM 87102 3283530 0 X www.yeshousing.org X 1990 NM To build and revitalize communities with quality, affordable housing, accessible social services, and a dedication to being positive agents for change within the community. Co-developed the acquisition and rehab of a 56 unit apartment complex in Las Cruces, NM for Tierra del Sol Housing Corp., another NM nonprofit. Acquired, rehabbed, and sold 8 single family houses under the Neighborhood Stabilization Program. 6 4 14 4 0 0 616442 614300 1185082 1344256 227063 75621 5858 0 2034445 2034177 2870 598543 0 1436703 1542143 0 0 1624637 1658859 3064210 3799545 -1029765 -1765368 23550110 23391265 6949758 7589378 16600352 15801887 To build and revitalize communities with quality, affordable housing, accessible social services, and a dedication to being positive agents for change within the community. 1 0 1527557 598543 717612 Development of affordable housing including grants to YES Housing of Arizona and other agencies. 1048741 506157 Ownership and rental of affordable housing. 204708 120487 Social services to residents. 2781006 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 21 0 1 14 1 0 0 0 0 0 0 0 0 0 6 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NM X X Clyde Skinner 5059239604 104 Roma NW Albuquerque NM 87102 Orlando Vigil 0.50 X 0 0 0 Robert J Avila 0.50 X 0 0 0 William M Knauf 0.50 X 0 0 0 Paul Mondragon 0.50 X 0 0 0 Augustine C Baca 33.00 X X X 161235 0 51266 Joseph R Ortega 45.00 X X 138465 0 47881 Clyde S Skinner 45.00 X 104904 0 40792 404604 0 139939 3 0 1 0 0 614300 614300 Development Fees 900099 500916 500916 Rent 532000 486673 486673 Rent Related Income 532000 319167 319167 Constructions Manageme 230000 37500 37500 1344256 244624 244624 1080350 1249353 -169003 -169003 -169003 2034177 1344256 0 75621 598543 598543 544544 363700 180844 564877 377280 187597 135817 90712 45105 198959 132884 66075 97946 65418 32528 40035 40035 18231 12176 6055 41938 28010 13928 56714 37879 18835 21059 14065 6994 42628 28471 14157 248495 165969 82526 10950 7313 3637 494251 330109 164142 264017 176336 87681 45383 30311 15072 Repairs & Maintenance 75880 50680 25200 Predevelopment Costs 50918 50918 Social Services 43105 43105 Equipment 32598 21772 10826 Training 22493 15023 7470 150164 100297 49867 3799545 2781006 1018539 0 222363 62628 2036252 1656022 77077 76795 3795766 3702509 18325 13326 8572420 2213243 6473978 6359177 6688394 6985084 4175458 4477862 62297 57862 200 0 23550110 23391265 344616 374769 6581584 7142498 23558 72111 6949758 7589378 X 16600352 15801887 16600352 15801887 23550110 23391265 X 0 1 1 X 1 1 X 503086 566415 635021 616442 614300 2935264 503086 566415 635021 616442 614300 2935264 2935264 231122 385493 668363 288608 244624 1818210 74769 30521 17382 5858 128530 4882004 14824270 0.60120 0.58550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2305548 2305548 4947740 1748462 3199278 648165 221324 426841 670967 243457 427510 6359177 Investment in Brentwood Gardens Apts, LP 773591 F Investment in Montana Meadows Apts, LP 436071 F Investment in Wildewood Apts, LP 251036 F Investment in Apple Ridge Apts, LP 29511 F Investment in Roswell Summit Apts, LP 76 F Development Fees Receivable 2331349 C Predevelopment Capitalized Costs 10000 C Work in Process 646228 C 4477862 Security Deposits/Prepaid Rent 24119 Investment in Bella Vista Townhomes, LP 61 Investment in Otero Village, LP 850 Investment in Vista Grande Apts, LP 47081 72111 2034177 3799545 -1765368 966903 674613 1641516 -123852 3061366 966903 692475 1659378 1401988 632189 632189 2034177 3185218 17862 17862 3167356 632189 632189 3799545 Part XI, Line 8 - Other Adjustments: Revenue of Affiliate: 692475. Expenses of Affiliate: -17862. Part XII, Line 2d - Other Adjustments: Revenue of Affiliate: 692475. Part XII, Line 4b - Other Adjustments: Adjustment for consolidated financial statement eliminations: 632189. Part XIII, Line 2d - Other Adjustments: Expenses of Affiliate: 17862. Part XIII, Line 4b - Other Adjustments: Adjustment for consolidated financial statement eliminations: 632189. Fin 48, Part X, Line 2: The organization's income tax footnote contains a description of the requirements of FIN 48. It then contains the following text: As of June 30, 2010, YES performed a comprehensive review of its material tax positions in accordance with recognition and measurement standards established by GAAP. As a result of this review, YES qualified as a tax exempt organization under Section 501(c)(3) of the IRC and had no income derived from unrelated business activities and did not identify any entity level tax positions that would not meet the more-likely-than-not-threshold. 1 YES Housing of Arizona Inc 104 Roma NW Albuquerque NM 87102 721534324 501(c)(3) 591863 Book Development of affordable housing Other Miscellaneous Agencies 6680 Book Development of affordable housing 1 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Determination of uses is made by the Board of Directors at the beginning of each fiscal year or as an action item during the fiscal year. X X X X 0 0 0 0 0 0 0 0 0 Augustine C Baca 147396 0 0 0 13839 0 31442 0 19824 0 212501 0 0 0 Joseph R Ortega 129405 0 0 0 9060 0 27404 0 20477 0 186346 0 0 0 Form 990, Part III, line 2 New Program Services YES Housing, Inc. was awarded a $2.3 million NSP contract from the New Mexico Mortgage Finance Authority to buy, rehab, and re-sell 10 Real Estate Owned (REO) single family houses. Form 990, Page 5, Part V, Questions 7g & h The organization did not receive the types of contributions listed and, therefore, does not have either a Form 8899 or a Form 1098-C filing requirement. Therefore these questions are left blank because they are not applicable and the answer is neither yes or no. Form 990, Part VI, Section B, line 11 The Form 990 is presented by the preparing CPA firm to the Audit Committee for review prior to its submission to the Board. Form 990, Part VI, Section B, line 12c A conflict of interest statement is signed by each member of the Board, Officers, and Key employees every year. The statement explains the terms and asks for details regarding any conflict. If a conflict arises which relates to an employee, it is reviewed by the CEO and then is presented to the independent members of the Board if necessary. If a conflict arises which relates to a Board member, it is reviewed by the Chairman of the Board and then presented to the independent members of the Board if necessary. A person with a conflict is not allowed to vote on such transactions. Form 990, Part VI, Section B, line 15 At the March 2009 Board meeting, the CEO presented the Board with several compensation reports used to determine the reasonableness of the Top Management positions in the organization. The Board indicated that the Top Management compensation levels were just and conforming to current markets but referred the CEO's compensation to the independent Wage and Compensation Committee. The Committee met and reviewed several compensation reports and studies consisting of the September 2008 Guidestar Compensation report; Form 990's from other like entities; the New Mexico Business weekly dated December 2008; Non-profits Ranked By Income; and the NM DOL Salary Surveys. The Committee recommended approval and the Board approved the CEO compensation at the April 15, 2009 Board meeting. The Board determined that the CEO's compensation will be reviewed every three (3) years. The approval process was documented. The compensation committee (CEO, EVP, VP/CFO) reviewed several compensation reports and studies consisting of the 2008 Guidestar Compensation report; Robert Half 2009 Salary Guide; Form 990's from other like entities; NM DOL Surveys; and also communicated with senior management of similar organizations to determine the reasonableness of Key Employees. It was determined that based on comparable data and compensation reports, Key Employee salaries were within reason and conforming to the current market. Each Key Employee's salary is reviewed during each annual review. Form 990, Part VI, Section C, line 19 All governing documents, Conflict of Interest Policy, and most recent audited financial statements are available on the organization's website, www.yeshousing.org, under "View Reporting" and are also made available upon request. Form 990, Page 12, Part XI, Question 2c There has been no change in the audit oversight or selection process during the tax year. Form 990 Schedule D Part XI Line 10: Deficit per F/S does not agree with difference between beg & end net assets The Schedule D Financial Statement Excess (Deficit) reported in Part XI Line 10 represents the consolidated excess (deficit). The reconciliation of unconsolidated excess (deficit) is as follows: Beginning Net Assets, Form 990, Page 1, Line 22 16,600,352 Ending net Assets, Form 990, Page 1, Line 22 15,801,887 Difference in Net Assets (Deficit) (798,465) Plus: revenue of YES Housing of Arizona 692,475 Less: expenses of YES Housing of Arizona (17,862) Excess (Deficit) per audited financial statements (123,852) Sch. D, Part XI, Line 10 YES Brentwood Gardens LLC 104 Roma NW Albuquerque NM 87102 850483745 Affordable Housing NM -6 773591 YES Housing Inc YES Montana Meadows LLC 104 Roma NW albuquerque NM 87102 850480048 affordable Housing NM 2 436071 yES Housing Inc YES Wildewood LLC 104 Roma NW albuquerque NM 87102 850475448 affordable Housing NM -6 251036 yES Housing Inc YES Apple Ridge LLC 104 Roma NW albuquerque NM 87102 721526695 affordable Housing NM 1 29511 yES Housing Inc YES Vista Grande LLC 104 Roma NW albuquerque NM 87102 450514260 affordable Housing NM -16 -47088 yES Housing Inc YES 1st and Roma LLC 104 Roma NW albuquerque NM 87102 270981070 Inactive NM 0 0 yES Housing Inc YES NSP LLC 104 Roma NW albuquerque NM 87102 270843963 Affordable Housing NM 0 0 yES Housing Inc YES La Hacienda LLC 104 Roma NW albuquerque NM 87102 272931718 Affordable Housing NM 0 0 yES Housing Inc YES Housing of Arizona Inc 104 Roma NW Albuquerque NM 87102 721534324 Affordable Housing AZ 501(c)(3) Public Charity YES Housing Inc Otero Village LP 104 Roma NW Albuquerque NM 87102 860963359 Affordable Housing NM YES Housing Inc Related -116 190539 0 1 Apple Ridge Apartments LP 104 Roma NW albuquerque NM 87102 721526697 affordable Housing NM yES Housing Inc related 1 416638 0 1 Brentwood Gardens Apartments LP 104 Roma NW albuquerque NM 87102 850483988 affordable Housing NM yES Housing Inc related -6 875278 0 1 Montana Meadows Apartments LP 104 Roma NW albuquerque NM 87102 850480049 affordable Housing NM yES Housing Inc related 2 552573 0 1 Wildewood Apartments LP 104 Roma NW albuquerque NM 87102 850475523 affordable Housing NM yES Housing Inc related -6 574578 0 1 Vista Grande Apartments LP 104 Roma NW albuquerque NM 87102 412096157 affordable Housing NM yES Housing Inc related -16 1119048 0 1 Bella Vista Townhomes LP 104 Roma NW albuquerque NM 87102 260727608 affordable Housing NM yES Housing Inc related -36 359474 0 1 Roswell Summit Apartments LP 104 Roma NW albuquerque NM 87102 260524103 affordable Housing NM yES Housing Inc related -16 138801 0 1 Los Tres Apartments LP 104 Roma NW albuquerque NM 87102 870744393 affordable Housing AZ YES Los Tres LLC related -138 5547323 0 1 YES Los Tres LLC 104 Roma NW albuquerque NM 87102 202786022 affordable Housing AZ YES of Arizona LLC related -97 958 0 0 YES Bella Vista LLC 104 Roma NW Albuquerque NM 87102 260727524 Affordable Housing NM YES Housing Inc C -27 240845 0.67000 YES Roswell Summit LLC 104 Roma NW albuquerque NM 87102 200524004 affordable Housing NM YES Housing Inc C -16 138801 1.00000 Yes of Arizona LLC 104 Roma NW albuquerque NM 87102 204086794 affordable Housing AZ YES Housing of Arizona Inc C -97 958 1.00000 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 YES Housing of Arizona Inc B 591863 Vista Grande Apartments LP D 36133