2023-11-03T15:39:24-05:00 2022-12-31 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990EZ 2022-01-01 161363895 MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY INC MOTH 7168289751 790 RIDGE ROAD LACKAWANNA NY 14218 CINDY LEE SECRETARY 7168289751 2023-11-02 1 CINDY LEE XXX-XX-XXXX 1 MELISSA SLATER P01275195 5853811000 2023-11-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X X WWW.OLVHS.ORG X X 101505 X 101503 2 101505 79086 10633 89719 11786 -81635 0 -69849 X 860 207 44825 61194 147536 153749 193221 215150 274856 284999 -81635 -69849 X MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY, INC. WAS DEVELOPED AND OPERATES WITH FEDERAL HOUSING FINANCING. THE PROPERTY UTILIZES THE FEDERAL HOUSING PROGRAM 202 SECTION 8 TO MAKE RENT AFFORDABLE TO LOWER INCOME TENANTS. THE PROPERTY WAS DEVELOPED WITH FUNDING THROUGH THE HUD 202 SECTION 8 PROGRAM, WHICH PROVIDES FUNDING FOR ADULTS WHO ARE DISABLED OR 62 OR OLDER. MOTHER OF GRACE IS AN AFFORDABLE APARTMENT COMMUNITY LOCATED AT 289 CROSBY BLVD., AMHERST, NEW YORK, 14226, WHICH IS IN ERIE COUNTY. THE PROPERTY CONSISTS OF 10 ASSISTED RENTAL UNITS. MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY, INC. PROVIDES RENTAL SUBSIDIES TO RENTERS. THE TYPE OF SUBSIDY PROVIDED TO APARTMENT RENTERS BY THIS PROPERTY IS HUD 202 SECTION 8 RENTAL ASSISTANCE. THE SUBSIDY ALLOWS THE RENTER TO PAY 30% OF THEIR INCOME FOR RENT WHILE THE SUBSIDY PAYS THE DIFFERENCE. TO QUALIFY, A RENTER MUST EARN 50% OR LESS THAN AREA MEDIAN INCOME, AND BE DISABLED OR 62 YEARS OF AGE OR OLDER. 0 89719 89719 FATHER DAVID LIPUMA PRESIDENT 0.50 0 0 0 FATHER PETER J KARALUS VICE PRESIDENT 0.50 0 0 0 CINDY LEE SECRETARY 0.50 0 0 0 R HALLADAY SWANSON TREASURER 0.50 0 0 0 BISHOP MICHAEL W FISHER MEMBER 0.50 0 0 0 MICHAEL QUINN MEMBER 0.50 0 0 0 ELLEN MUSIALOWSKI MEMBER 0.50 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CINDY LEE 790 RIDGE ROAD LACKAWANNA NY 14218 7168289750 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X 92038 96096 97024 98452 101503 485113 92038 96096 97024 98452 101503 485113 0 0 0 485113 110 122 45 28 2 307 110 122 45 28 2 307 35 35 92148 96253 97069 98480 101505 485455 0.99930 0.99890 0.00060 0.00100 X FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME DESCRIPTION: INTEREST AND DIVIDENDS. AMOUNT: 2. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: OFFICE EXPENSE. AMOUNT: 2,212. DESCRIPTION: MANAGEMENT FEE. AMOUNT: 5,230. DESCRIPTION: BOOKKEEPING. AMOUNT: 402. DESCRIPTION: LICENSES. AMOUNT: 867. DESCRIPTION: BAD DEBTS. AMOUNT: 6. DESCRIPTION: AUDIT EXPENSE. AMOUNT: 1,475. DESCRIPTION: LEGAL EXPENSE. AMOUNT: 361. DESCRIPTION: BANK FEES. AMOUNT: 80. TOTAL TO FORM 990-EZ, LINE 16: 10,633. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: SECURITY DEPOSIT. BEG. OF YEAR AMOUNT: 2,005. END OF YEAR AMOUNT: 2,213. DESCRIPTION: REPLACEMENT RESERVE. BEG. OF YEAR AMOUNT: 144,856. END OF YEAR AMOUNT: 150,877. DESCRIPTION: PREPAID EXPENSES. BEG. OF YEAR AMOUNT: 675. END OF YEAR AMOUNT: 659. FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES DESCRIPTION: MORTGAGE PAYABLE. BEG. OF YEAR AMOUNT: 158,365. END OF YEAR AMOUNT: 146,971. DESCRIPTION: NOTES PAYABLE. BEG. OF YEAR AMOUNT: 91,741. END OF YEAR AMOUNT: 91,741. DESCRIPTION: DUE TO (FROM) OLVHS. BEG. OF YEAR AMOUNT: 22,529. END OF YEAR AMOUNT: 43,143. DESCRIPTION: SECURITY DEPOSITS. BEG. OF YEAR AMOUNT: 2,005. END OF YEAR AMOUNT: 2,213. DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 216. END OF YEAR AMOUNT: 931. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.