2023-11-14T16:50:16-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2022-01-01 223026442 CAMBRIDGE AFFORDABLE HOUSING CORP CAMB 6175206387 362 GREEN STREET CAMBRIDGE MA 02139 JOHN FILIP CFO 6175206387 2023-11-13 1 JOHN FILIP 999009999 0 DANIELLE NIHILL P01350943 7819821001 2023-11-12 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN FILIP 362 GREEN STREET CAMBRIDGE MA 02139 10017577 0 X WWW.CAMBRIDGE-HOUSING.ORG X 1989 MA MANAGEMENT & SERVICES FOR RELATED ORGANIZATIONS WHICH OWN & OPERATE LOW INCOME HOUSING. 6 5 0 5 0 0 542312 256975 12367855 8164686 156392 2921 80657 1592995 13147216 10017577 542312 256975 0 0 1599059 1656234 0 0 0 12033571 9816528 14174942 11729737 -1027726 -1712160 128682054 123208985 128431841 124670932 250213 -1461947 THE ORGANIZATION'S MISSION IS TO PROVIDE MANAGEMENT AND SUPPORTING SERVICES FOR RELATED ORGANIZATIONS WHICH OWN AND OPERATE LOW-INCOME HOUSING UNITS FOR QUALIFIED INDIVIDUALS IN THE CITY OF CAMBRIDGE, MA. 0 0 10329620 256975 8164686 AFFORDABLE HOUSING - MANAGEMENT AND SUPPORTING SERVICES FOR RELATED ORGANIZATIONS WHICH OWN AND OPERATE HOUSING FOR LOW AND MODERATE INCOME PERSONS. 10329620 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X JOSEPH DIMAMBRO 6175206387 362 GREEN STREET CAMBRIDGE MA 02139 MICHAEL J JOHNSTON CLERK 1.00 40.00 X X 0 249651 73362 BRENDA SNOWDEN DOWNING DEPUTY EXECUTIVE DIRECTOR 1.00 40.00 X 0 230304 68159 MARGARET DONNELLY-MORAN DIRECTOR OF PLANNING & DEV 1.00 40.00 X 0 251297 45357 JOHN FILIP CHIEF FINANCIAL OFFICER 1.00 40.00 X 0 238993 53897 KEVIN J BRAGA DIRECTOR OF OPERATIONS 1.00 40.00 X 0 204748 64908 HANNAH M BOLCOME DIRECTOR OF LEASED HOUSING (UNTIL 2/22) 1.00 40.00 X 0 63625 0 ELAINE DEROSA PRESIDENT 1.00 2.00 X X 0 0 0 LOUIS BACCI III VICE PRESIDENT 1.00 2.00 X X 0 0 0 GERALD J CLARK TREASURER 1.00 2.00 X X 0 0 0 VICTORIA BERGLAND DIRECTOR 1.00 2.00 X 0 0 0 SUSAN T CONNELLY DIRECTOR 1.00 2.00 X 0 0 0 0 1238618 305683 0 0 1 0 BWA ARCHITECTURE 132 LINCOLN STREET BOSTON MA 02111 ARCHITECTURAL SERVICES 2666838 1 256975 256975 RENTAL INCOME 532000 6741899 6741899 DEVELOPMENT FEE 531390 1422787 1422787 8164686 2921 2921 GAIN ON RESTRUCTURING OF LEASE & 531390 918374 918374 OTHER INCOME 531390 674621 674621 1592995 10017577 8164686 0 1595916 256975 256975 1122480 641068 481412 210908 210908 322846 244023 78823 387923 387923 1533 1533 74048 74048 55715 55715 20754 20754 2073265 2073265 6755 6755 2841870 2841870 2147947 2147947 423661 423661 DEVELOPMENT FEE 1422787 1422787 CONDO ASSESSMENT FEES 131804 131804 TENANT SERVICES 89306 89306 ADMINISTRATIVE EXPENSES 82246 82246 56914 56914 11729737 10329620 1400117 0 17235751 19589830 193016 216100 442601 289714 37831122 8627656 65217939 29203466 45592747 73909875 128682054 123208985 3176526 1435498 19322 17992 103387071 97172889 21848922 26044553 128431841 124670932 X 250213 -1461947 250213 -1461947 128682054 123208985 -1712160 0 X 0 1 X 1 0 X 419174 1252060 561099 542312 256975 3031620 12225456 9610932 9766691 12448512 8164686 52216277 12644630 10862992 10327790 12990824 8421661 55247897 0 0 0 55247897 3114 23417 13295 8317 2921 51064 3114 23417 13295 8317 2921 51064 1592995 1592995 12647744 10886409 10341085 12999141 10017577 56891956 0.97110 0.99910 0.00090 0.00090 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GAIN ON RESTRUCTURING OF LEASE DEBT - 2022 AMOUNT: $ 918,374. OTHER INCOME - 2022 AMOUNT: $ 674,621. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3297296 3297296 34099321 8519103 25580218 434505 108553 325952 29203466 MORTGAGE ESCROW DEPOSITS 12232 DEVELOPMENT COSTS 6384728 INVESTMENT IN UNCONSOLIDATED ENTITIES 601 DUE FROM RELATED PARTY 2413918 DEVELOPMENT FEES RECEIVABLE 7018902 CONSTRUCTION IN PROGRESS 824699 ROU ASSET, NET OF AMORTIZATION 56594402 OPERATING RESERVES 660393 73909875 DUE TO RELATED PARTY 3991796 DEVELOPMENT FEES PAYABLE 11700445 ACCRUED INTEREST PAYABLE 7797874 DEFERRED RENT OBLIGATION 105945 LEASE LIABILITY 2448493 26044553 X PART X, LINE 2: THE CORPORATION IS A NONPROFIT ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (IRC). ACCORDINGLY, CONTRIBUTIONS TO THE CORPORATION QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI). INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE CORPORATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2022 AND DECEMBER 31, 2021, ALL OF THE CORPORATION'S REVENUES WERE REALIZED FROM EXEMPT ACTIVITIES. THE CORPORATION IS EXEMPT FROM MASSACHUSETTS INCOME TAXES UNDER CHAPTER 180 OF THE MASSACHUSETTS GENERAL LAWS. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT DOES NOT BELIEVE ITS EVALUATION OF TAX POSITIONS WILL SIGNIFICANTLY CHANGE WITHIN 12 MONTHS OF DECEMBER 31, 2022. ANY CHANGES IN TAX POSITIONS WILL BE RECORDED WHEN THE ULTIMATE OUTCOME BECOMES KNOWN. THE CORPORATIONS INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES GENERALLY FOR THREE YEARS PRECEDING THE YEAR ENDED DECEMBER 31, 2022. THE CORPORATION RECOGNIZES INTEREST AND PENALTIES IMPOSED BY TAXING AUTHORITIES IN OPERATING EXPENSES. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THE CORPORATION RECOGNIZED NO INTEREST OR PENALTIES IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 1 CAMBRIDGE HOUSING AUTHORITY 362 GREEN STREET CAMBRIDGE MA 02139 046002081 GOVERNMENT 176725 0 CHARITABLE CAMBRIDGE COMMUNITY FOUNDATION 99 BISHOP ALLEN DRIVE CAMBRIDGE MA 02139 046012492 501(C)(3) 76500 0 CHARITABLE RESIDENT SERVICES EMPOWERMENT 362 GREEN STREET CAMBRIDGE MA 02139 832304984 501(C)(3) 3750 0 CHARITABLE 3 PART I, LINE 2: RECORDS ARE MAINTAINED FOR GRANTS TO THE CAMBRIDGE HOUSING AUTHORITY. X 0 0 0 0 0 0 0 0 0 MICHAEL J JOHNSTON CLERK 0 247435 0 2216 0 0 0 47958 0 25404 0 323013 0 0 BRENDA SNOWDEN DOWNING DEPUTY EXECUTIVE DIRECTOR 0 218004 0 12300 0 0 0 42752 0 25407 0 298463 0 0 MARGARET DONNELLY-MORAN DIRECTOR OF PLANNING & DEV 0 239297 0 12000 0 0 0 45279 0 78 0 296654 0 0 JOHN FILIP CHIEF FINANCIAL OFFICER 0 226493 0 12500 0 0 0 43531 0 10366 0 292890 0 0 KEVIN J BRAGA DIRECTOR OF OPERATIONS 0 192498 0 12250 0 0 0 37521 0 27387 0 269656 0 0 PART I, LINE 3 THE BOARD OF CAMBRIDGE HOUSING AUTHORITY (CHA), A RELATED ORGANIZATION, APPOINTS A CLERK WHO USES A DILIGENT REVIEW PROCESS TO DETERMINE COMPENSATION OF OFFICERS AND TOP MANAGEMENT. THE COMPENSATION PROCESS INCLUDES A REVIEW OF MARKET RATES AND PASSED AFTER A REVIEW BY THE BOARD. THE COMPENSATION CONTRACT IS KEPT CURRENT BY THE ORGANIZATION'S HUMAN RESOURCES DEPARTMENT. COMPENSATION IS ONLY RECEIVED BY CHA ACTIVITIES - NO COMPENSATION IS PAID DIRECTLY FROM CAMBRIDGE AFFORDABLE HOUSING CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE FORM 990 IS REVIEWED BY THE CLERK AND THE CFO OF THE ORGANIZATION WHO ARE AUTHORIZED SIGNERS OF THE ORGANIZATION. COPIES ARE MADE AVAILABLE TO THE BOARD UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS ENFORCED VIA EMPLOYEE HANDBOOK THAT IS UPDATED AND DISTRIBUTED AS CHANGES ARE MADE IN WHICH EACH EMPLOYEE RECEIVES A COPY. BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE INTERESTS THAT MAY RISE TO CONFLICTS OF INTEREST. COMPLIANCE WITH THE POLICY IS OVERSEEN BY THE EXECUTIVE DIRECTOR AND HUMAN RESOURCE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION COMMISSIONS AN INDEPENDENT COMPENSATION STUDY FROM AN OUTSIDE THIRD PARTY. THIS PROCESS WAS LAST COMPLETED IN 2021. 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. INTERNAL REVENUE CODE SECTION 168(H)(6) ELECTION THE ORGANIZATION OWNS/CONTROLS CAHC PORTER ROAD MANAGER, LLC, ROOSEVELT TOWERS MANAGER, LLC, TRUMAN APARTMENTS MANAGER, LLC, AND PUTNAM SCHOOL APARTMENTS MANAGER, LLC EACH OF WHICH ARE CORPORATIONS THAT HAVE MADE AN ELECTION IN ACCORDANCE WITH CODE SECTION 168(H)(6)(F)(II), TO BE TREATED AS OTHER THAN A TAX-EXEMPT CONTROLLED ENTITY FOR PURPOSES OF USING THE ALTERNATIVE DEPRECIATION SYSTEM FOR CERTAIN PROPERTY SPECIFIED IN SECTION 168 (G)(2). THIS PROPERTY INCLUDES RESIDENTIAL RENTAL PROPERTY SPECIFIED IN SECTION 168 (G)(2). THIS PROPERTY INCLUDES RESIDENTIAL RENTAL PROPERTY WHICH THE ENTITY WILL BE DEPRECIATING OVER A RECOVERY PERIOD OF 27.5 YEARS. CAMBRIDGE AFFORDABLE HOUSING CORPORATION ELECTS TO TREAT THE GAIN FROM ANY DISPOSITION OF ITS OWNERSHIP INTERESTS (AND ANY DIVIDEND RECEIVED OR ACCRUED FROM THE CONTROLLED ENTITY) AS UNRELATED BUISNESS TAXABLE INCOME FOR PURPOSES OF CODE SECTION 511 OF THE INTERNAL REVENUE CODE. 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