2011-08-15T12:15:27-05:00 2010-12-31 KEVIN P MARTIN & ASSOCIATES PC 10 FORBES WEST BRAINTREE MA 02184 990 2010-01-01 042679926 BRIGHTON ALLSTON ELDERLY HOMES INC BRIG 7818490011 C/O CORCORAN MGMT CO 100 GRANDVIEW RD NO 207 BRAINTREE MA 02184 JAMES CREAMER 7818490011 2011-07-22 1 BRIAN W MCNEIL 7813803520 2011-07-22 2010 2016-02-24 21:20:13Z JAMES CREAMER 59 ALDIE ST ALLSTON MA 02134 1153764 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 853127 895430 242368 234986 3377 2553 20561 20795 1119433 1153764 0 0 0 0 0 0 0 0 0 1112778 1116931 1112778 1116931 6655 36833 2856431 2853004 4133452 4093192 -1277021 -1240188 TO PROVIDE AFFORDABLE RENTAL UNITS FOR ELDERLY AND HANDICAPPED PERSONS 0 0 1116931 255781 PROVIDED EIGHTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS 1116931 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 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 249874 1 895430 895430 RENT INCOME TENANTS 531110 234986 234986 234986 2553 2553 LAUNDRY & OTHER INCOME 812300 20795 20795 20795 1153764 255781 0 2553 67836 67836 127 127 17640 17640 180298 180298 367 367 20835 20835 492618 492618 236052 236052 86859 86859 SUPPORTIVE SERVICES 12837 12837 OTHER EXPENSES 1462 1462 1116931 1116931 0 0 120832 167036 380 1215 35078 34984 4027886 2304399 1698301 1723487 1001840 926282 2856431 2853004 181502 186284 1999 3187 3929155 3883879 20796 19842 4133452 4093192 X -1277021 -1240188 -1277021 -1240188 2856431 2853004 36833 X X 0 1 1 X 1 1 X 744879 779613 826124 853127 895430 4099173 266558 253017 266261 242368 234986 1263190 1011437 1032630 1092385 1095495 1130416 5362363 0 0 0 5362363 7026 7186 5325 3377 2553 25467 7026 7186 5325 3377 2553 25467 18114 5177 5920 20561 20795 70567 1036577 1044993 1103630 1119433 1153764 5458397 0.98240 0.98430 0.00470 0.00520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 256321 256321 3771565 2304399 1467166 1723487 TAX AND INSURANCE ESCROW 122043 RESERVE FOR REPLACEMENT 457349 TENANT SECURITY DEPOSIT ESCROW 23157 FINANCING FEES, NET OF ACCUMULATED AMORTIZATION 175162 SPECIAL DEVELOPMENT ESCROW 42691 RESIDUAL RECEIPTS RESERVE 105880 926282 TENANT SECURITY DEPOSITS 19842 19842 1153764 1116931 36833 0 36833 1170000 16236 16236 1153764 0 1153764 1133167 16236 16236 1116931 0 1116931 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE PROJECT ADOPTED THE PROVISIONS OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA 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 POSITION 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 THE CORPORATION INCURRED A MANAGEMENT FEE OF $63,336, FOR THE YEAR ENDED DECEMBER 31, 2010 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.