2011-11-15T16:10:12-06:00 2010-12-31 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2010-01-01 237099102 CHARLESVIEW INC CO PEABODY PROPERTIES INC CHAR 7817941000 536 GRANITE STREET BRAINTREE MA 02184 ROBERT FOX 7817941000 2011-11-10 1 KRISTIN LABONTE 7813803520 2011-11-10 2010 2016-03-07 17:11:31Z FATHER FRANK GLYNN 536 GRANITE STREET BRAINTREE MA 02184 3356102 0 X N/A X 1969 MA TO PROVIDE AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME IN ALLSTON, MASSACHUSETTS. 14 14 0 0 0 0 1865356 2079754 1305512 1249784 12245 5280 50924 21284 3234037 3356102 0 0 0 0 0 0 0 0 0 3338642 2727962 3338642 2727962 -104605 628140 10809311 11442447 8924925 8929921 1884386 2512526 TO PROVIDE AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME IN ALLSTON, MASSACHUSETTS. 0 0 2727962 1271068 TO PROVIDE 213 UNITS OF AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME AND 4 COMMERCIL UNITS, IN ALLSTON, MASSACHUSETTS. 2727962 1 1 0 0 0 0 0 0 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 0 0 0 X 14 14 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 HALBINGER 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 WILILAM ROSENBERG 0.20 X 0 0 0 ANDREW GILSON 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 0 0 0 ROBERT MARSHALL 0.20 X 0 0 0 REV SAM JOHNSON 0.20 X X 0 0 0 PAUL FLECK 0.20 X 0 0 0 LORI LAMPORT 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 400592 PEABODY PROPERTIES 536 GRANITE STREET BRAINTREE MA 02184 MANAGEMENT FEE 149997 2 2079754 2079754 TENANT RENT 531110 1249784 1249784 1249784 5280 5280 LAUNDRY & VENDING 531390 15948 15948 STORES & COMMERCIAL 531390 5056 5056 280 280 21284 3356102 1271068 0 5280 163633 163633 25052 25052 32031 32031 437007 437007 65155 65155 1664409 1664409 330939 330939 SUPPORTIVE SERVICES 9646 9646 90 90 2727962 2727962 0 0 176722 355435 28035 29689 32394 30395 13530608 9070187 4791360 4460421 5780800 6566507 10809311 11442447 247840 138989 19220 27197 4948764 4697528 3709101 4066207 8924925 8929921 X 1884386 2512526 1884386 2512526 10809311 11442447 628140 0 X 0 1 1 X 1 1 X 1651750 1757796 1816401 1865356 2079754 9171057 1232888 1237632 1280454 1305512 1249784 6306270 2884638 2995428 3096855 3170868 3329538 15477327 0 0 0 15477327 27890 26445 23546 12245 5280 95406 27890 26445 23546 12245 5280 95406 52543 34504 29641 50924 21284 188896 2965071 3056377 3150042 3234037 3356102 15761629 0.98200 0.98090 0.00610 0.00690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26375 26375 11685885 7324944 4360941 1715799 1685824 29975 102549 59419 43130 4460421 TAX & INSURANCE ESCROW 138936 REPLACEMENT RESERVE 2107804 CASH - SECURITY DEPOSITS 67354 RESIDUAL RECEIPT RESERVE 105522 FINANCING FEES, NET OF ACCUM AMORT 146891 DUE FROM AFFILIATE 4000000 6566507 TENANT SECURITY DEPOSITS 66207 DEPOSIT ON SALE OF PROPERTY 4000000 4066207 3356102 2727962 628140 0 628140 3356102 0 3356102 0 3356102 2727962 0 2727962 0 2727962 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE PROJECT ADOPTED THE PROVISIONS OF U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES WHICH 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 POSTION MUST BE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. FOR THE YEAR ENDED DECEMBER 31, 2010, THE PROJECT HAS NO MATERIAL UNCERTAIN TAX POSITIONS TO BE ACCOUNTED FOR IN THE FINANCIAL STATEMENTS. THE PROJECT RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE. ALL TAX YEARS PRIOR TO 2007 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 MANAGEMENT COMPANY: PEABODY PROPERTIES, 536 GRANITE STREET, BRAINTREE, MA 02184 781-794-1000. THE CORPORATION INCURRED A MANAGEMENT FEE OF $163,633 FOR THE YEAR ENDED DECEMBER 31, 2010. 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