2023-08-23T14:52:08-05:00 2022-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2022-01-01 450455374 HOMESTEAD PLACE HOME 7017462545 1405 1ST AVE N GRAND FORKS ND 58203 TERRY HANSON EXECUTIVE DIRECTOR 7017462545 2023-08-14 1 TERRY HANSON 999009999 0 BRIAN OPSAHL P01221767 7017754685 2023-07-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TERRY HANSON 1405 1ST AVE N GRAND FORKS ND 58203 432803 0 X N/A X 2000 ND PROVIDE LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND. 5 5 0 0 0 0 278278 285531 145250 147109 151 163 0 0 423679 432803 0 0 0 0 0 115514 0 0 0 379989 327229 379989 442743 43690 -9940 1761038 1734191 705308 688401 1055730 1045790 TO PROVIDE LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND. 0 0 358252 147109 HOMESTEAD PLACE PROVIDES LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND. 358252 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 0 0 0 X HOMESTEAD PLACE 7017462545 1405 1ST AVE N GRAND FORKS ND 58201 X CURT KREUN PRESIDENT 1.00 X X 0 0 0 JOAN JOHNSON VICE PRESIDENT 1.00 X X 0 0 0 TERRY HANSON SECRETARY - NON VOTING 1.00 X X 0 0 0 FAYME STRINGER-HENRY DIRECTOR (THROUGH DECEMBER 2022) 1.00 X 0 0 0 BRET WEBER DIRECTOR 1.00 X 0 0 0 JEREMY MORRIS DIRECTOR 1.00 X 0 0 0 ZAC ISTA DIRECTOR (STARTED DECEMBER 2022) 1.00 X 0 0 0 0 0 0 0 0 0 0 0 285531 285531 RENTAL REVENUE 531110 147109 147109 147109 163 163 432803 147109 0 163 82349 77061 5288 6274 5871 403 21334 19964 1370 5557 5200 357 36036 36036 116 116 6650 6650 3702 3702 129211 129211 22532 22532 55245 55245 22334 22334 MISCELLANEOUS 30752 183 30569 BAD DEBT EXPENSE 16352 16352 RENTAL EXPENSES 4299 4299 442743 358252 84491 0 199077 189417 483201 550727 39017 8996 10305 10857 2256477 1311969 998124 944508 31314 29686 1761038 1734191 20859 25890 6983 10392 658406 633879 19060 18240 705308 688401 X 1055730 1045790 1055730 1045790 1761038 1734191 -9940 0 X 0 1 X 1 1 1 X 276401 263727 282217 278278 285531 1386154 276401 263727 282217 278278 285531 1386154 1386154 175 237 200 151 163 926 1387080 705034 0.99930 0.99930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 185852 185852 1982546 1223890 758656 88079 88079 0 944508 SPECIAL ASSESSMENTS 5845 TENANT SECURITY DEPOSITS 12395 18240 X 432803 0 432803 0 432803 442744 1 1 442743 0 442743 PART X, LINE 2: THE PROJECT AND ITS NONPROFIT OWNER ARE EXEMPT FROM INCOME TAXES ON EXEMPT PURPOSE INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RELINGS, COURT DECISIONS, AND OTHER EVIDENCE. THE FEDERAL INCOME TAX RETURNS OF THE ORGANIZATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THE DUE DATE OF THE RETURNS. IT IS THE OPINION OF MANAGEMENT THAT THE ORGANIZAITON HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 1. FORM 990, PART VI, SECTION A, LINE 1A TERRY HANSON, THE BOARD SECRETARY, IS A NONVOTING MEMBER. FORM 990, PART VI, SECTION A, LINE 3 HOMESTEAD PLACE ENTERED INTO AN AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY OF GRAND FORKS, NORTH DAKOTA, TO ACT AS ITS AGENT IN THE OPERATION OF THE PROJECT'S PROPERTIES AND TO MAKE ALL COLLECTIONS FOR IT. THE MANAGEMENT AGREEMENT PROVIDES FOR A MONTHLY MANAGEMENT FEE OF 9% OF GROSS COLLECTIONS RECEIVED DURING THE MONTH. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AT A BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE COGNIZANT OF THE INTEREST RULES AND UPON DISCOVERY OF POTENTIAL CONFLICTS, IT IS DISCUSSED AMONG THE BOARD MEMBERS AND STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.