2023-11-07T08:40:53-05:00 2022-12-31 364119639 KOLNICKI PETERSON & WIRTH CPA'S 1400 OPUS PLACE SUITE 100 DOWNERS GROVE IL 60515 990 2022-01-01 362666771 OAK PARK RESIDENCE CORPORATION OAKP 7083866061 21 SOUTH BOULEVARD OAK PARK IL 60304 WAYNE PIERCE CHAIR 7083866061 2023-10-03 true WAYNE PIERCE 999009999 false KENNETH W PETERSON CPA P00046293 6303901140 2023-11-06 2022 2023-04-26 12:10:37Z DAVID G POPE 21 SOUTH BOULEVARD OAK PARK IL 60302 9778703 false X WWW.OAKPARKRC.COM X 1979 IL THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. 7 7 48 0 1227553 739565 8643235 8902899 558401 606 135633 10429189 9778703 0 0 1591829 1670312 0 0 8516474 8860515 10108303 10530827 320886 -752124 43726959 42582613 42717000 42324778 1009959 257835 X THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. false false 9363703 8567880 TO REPAIR, PURCHASE, SELL AND MANAGE SUBSTANDARD RESIDEN- TIAL HOUSING IN OAK PARK, ILLINOIS. THE CORPORATION ALSO MANAGES PROPERTIES AND SELLS FORECLOSED HOUSES. 957056 325019 OPERATION OF THE OAKS, AN APARTMENT COMPLEX FOR THE ELDERY AND PHYSICALLY HANDICAPPED THAT IS SUBSUDIZED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 10320759 true true false false false false false false false false true false false true true true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false true true false false false true 38 0 true 48 true false false false false false false false false X 7 7 false false false false false false false true true false false false true true true true true true true false IL X BRAD SINN 7083866061 21 SOUTH BLVD OAK PARK IL 60304 DAVID G POPE CEO 30.00 10.00 X 250159 0 0 RYAN VON DREHLE DIRECTOR 1.00 X 0 0 0 PETER GONZALEZ TREASURER 1.00 X X 0 0 0 MAJORIE GREENWALD SECRETARY 1.00 X X 0 0 0 NANCY LEAVY DIRECTOR 1.00 X 0 0 0 WAYNE PIERCE CHAIR 1.00 X X 0 0 0 JENNIFER STRATMAN VICE CHAIR 1.00 X X 0 0 0 RACHEL WEBER DIRECTOR 1.00 X 0 0 0 250159 1 false true false SYNERGY CONSTRUCTION 2037 W CARROLL STREET CHICAGO IL 60612 BLDG CONSULTANT 893553 MORALES GENERAL CONTRACTORS 4944 W ERIE STREET CHICAGO IL 60644 MASONRY 384945 A PLUS CLEANING & MAINTENANCE 4127 W LAKE STREET CHICAGO IL 60624 JANITORIAL SERV 308838 KAPETANEAS PAINTING INC 2130 WESTCHESTER BLVD WESTCHESTER IL 60154 PAINTING/REPAIR 258650 FLYNN CONSTRUCTION CO 1405 BRIDGEHAMPTON DRIVE PLAINFIELD IL 60586 REHAB & REPAIRS 165522 5 739565 739565 RENT-TENANTS 532000 8721026 8721026 MGMT. & MAINT. FEES 561000 86280 86280 VILL OAK PARK SMALL CONDO GT 561000 42500 42500 PROGRAM REIMBURSEMENTS 900099 36024 36024 OTHER ADMINISTRATIVE FEES 900099 17069 17069 8902899 606 606 DEBT FORGIVENESS 135633 135633 135633 9778703 8902899 136239 250159 250159 1108642 1108642 311511 311511 -14842 -25671 10829 63211 63211 2763675 2702342 61333 1224178 1181619 42559 2219069 2172992 46077 355594 348059 7535 REAL ESTATE TAXES 1283740 1251856 31884 ADMINISTRATIVE EXPENSES 746785 739536 7249 BAD DEBT 173570 173570 AMORTIZATION OF FEES 45535 42933 2602 10530827 10320759 210068 0 1976644 764579 115001 183501 32279 36040 575798 176932 66265413 31575110 36555267 34690303 3493840 3334679 386214 591916 3396579 43726959 42582613 195783 169543 105266 707776 18560000 18011178 21874697 21126339 1981254 2309942 42717000 42324778 X 2569756 1702100 -1559797 -1444265 1009959 257835 43726959 42582613 -752124 X false true X true true true X 678195 698709 710064 1227553 739565 4054086 678195 698709 710064 1227553 739565 4054086 4054086 19990 50972 144748 192 606 216508 134633 134633 4405227 39206436 0.92030 0.94190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3600846 3600846 60645178 60645178 2019389 2019389 31575110 -31575110 34690303 CONTRUCTION IN PROCESS 2215589 RESTRICTED CASH 774625 ESCROW DEPOSITS 212795 RIGHT OF USE ASSET 193570 3396579 ACCRUED EXP. REAL ESTATE TAXES 1338240 SECURITY DEPOSIT/OTHER LIABILITIES 781836 LEASE LIABILITY 196513 ACCRUED EXP. SALARIES & EMPLOYEE BEN 182663 ACCRUED INTEREST 58945 DUE FROM OAK PARK RESIDENCE -248255 2309942 X 10043094 264391 264391 9778703 9778703 10825295 294468 294468 10530827 10530827 SCHEDULE D, PAGE 3, PART X THE INTERNAL REVENUE SERVICE HAS RULED THAT THE ORGANIZATION IS EXEMPT FROM THE PAYMENT OF FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE AS A CHARITABLE ORGANIZATION. THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED ASC 740-10-05 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" THAT CLARIFIED THE ACCOUTING AND RECOGNITION FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ORGANIZATION'S INCOME TAX RETURNS. THE ORGANIZATION ADOPTED THE STANDARDS IN 2010. THE ORGANZIATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE ORGANIZATION'S OPEN AUDIT PERIODS ARE 2019 THROUGH 2021. IN EVALUATING THE ORGANZATION'S TAX PROVISIONS AND ACCRUALS, FUTURE TAXABLE INCOME AND THE REVERSAL OF TEMPORARY DIFFERENCES, INTERPRETATIONS OF TAX PLANNING STRATEGIES ARE CONSIDERED. THE ORGANIZATION BELIEVES THEIR ESTIMATES ARE BASED ON CURRENT FACTS AND CIRCUMSTANCES. SCHEDULE D, PAGE 4, PART XI, LINE 2D ELIZABETH H & CYRUS V GIDDINGS CORPORATION REVENUE 185,793 RC MANAGEMENT S CORP REVENUE 78,598 SCHEDULE D, PAGE 4, PART XII, LINE 2D ELIZABETH H & CYRUS V GIDDINGS CORPORATION EXPENSES 223,391 RC MANAGEMENT S CORP EXPENSES 71,077 X X X false false false false false false false false false DAVID G POPE CEO 250159 250159 A ILLINOIS FINANCE AUTHORITY REVBOND 861091967 45188RWS4 2017-01-01 20000000 REFINANCE CONVENTIONAL LOAN false false false A 2008 false false false false A false false false false false false false A false false false false true false false false false A false PURPOSE OF ISSUE DESCRIPTION ILLINOIS FINANCE AUTHORITY REV.BONDS REFINANCE CONVENTIONAL LOAN FORM 990 - ORGANIZATION'S MISSION THE ORGANIZATION WAS ESTABLISHED TO PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE RESIDENTS OF THE VILLAGE OF OAK PARK, ILLINOIS BY IMPROVING OR CAUSING TO BE IMPROVED SUBSTANDARD OAK PARK HOUSING STOCK AND DEVELOPING PROJECTS AND ACTIVITIES FOR THE PREVENTION AND ELIMINATION OF BLIGHT INFLUENCE AND IN COOPERATION WITH GOVERNMENT AND CIVIC BODIES FOR THE PREVENTION AND ELIMINATION OF RACIAL AND ETHNIC PREJUDICE AND DISCRIMINATION. THE ORGANIZATION ALSO ASSISTS THE LOCAL GOVERNMENT IN IMPLEMENTING ITS FAIR HOUSING ORDINANCE, INSTRUCTS AND COUNCELS INDIVIDUALS AND GROUPS ON HOUSING MANAGEMENT STANDARDS, HOUSING REHABILITATION TECHNIQUES AND IMPROVEMENT OF RESIDENTIAL PROPERTIES TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES TO MEET THEIR PHYSICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. FORM 990, PAGE 6, PART VI, LINE 11B THE CONTROLLER AND EXECUTIVE DIRECTOR WILL REVIEW THE 990 AND ONCE THEY HAVE COMPLETED THEIR REVIEW THE 990 WILL BE PRESENTED TO THE BOARD PRESIDENT AND TREASURER FOR REVIEW AND SIGNATURE. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS HAS THE RESPONSIBILITY FOR FORMULATING THE POLICIES AND PROGRAMS OF THE ORGANIZATION. SUPERVISING AND IMPLEMENTING THE POLICIES AND TAKING THE NECESSARY CORRECTIVE ACTION TO PROMOTE THE CENTER'S GOALS ARE ENFORCED AT EACH OF THE MONTHLY REGULARLY SCHEDULED MEETINGS. IN ADDITION A HANDBOOK CONTAINS THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. MONITORING INCLUDES THE ORGANIZATION'S PROCUREMENT POLICY WHICH REQUIRES A BID PROCESS AND EXECUTIVE DIRECTOR OVERSIGHT FOR PURCHASES OF 5,000.00 OR MORE. PURCHASES OF 20,000.00 OR MORE REQUIRE A SEALED BID PROCESS AND APPROVAL BY THE BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR MAINTAINS AN OPEN DOOR POLICY WHICH ALLOWS EMPLOYEES TO FREELY COME FORWARD WITH ANY ISSUES. FORM 990, PAGE 6, PART VI, LINE 15A ALL POSITIONS HAVE A WRITTEN JOB DESCRIPTION DESCRIBING FUNCTIONS TO BE PERFORMED, EDUCATION REQUIRED, AND NUMBER OY YEARS OF WORK EXPERIENCE REQUIRED. THE WORK PERFORMANCE OF EACH INDIVIDUAL IS CAREFULLY EVALUATED AND REVIEWED AT LEAST ONCE ON AN ANNUAL BASIS. SALARY ADVANCEMENT IS BASED UPON THE FINANCIAL CIRCUMSTANCES OF THE CORPORATION, THE SALARY RANGE FOR THE POSITION, AND THE EMPLOYEE'S DEMONSTRATED WORK PERFORMANCE. OVERSIGHT OF THE PROCESS SITS WITH THE PERSONAL COMMITTEE COMPRISED OF FOUR MEMBERS OF THE BOARD OF DIRECTORS, THE EXECUTIVE DIRECTOR, AND THE HUMAN RESOURCE DIRECTOR. FORM 990, PAGE 6, PART VI, LINE 15B SEE ABOVE EXPLANATION WHICH COVERS PROCESS OF THE COMPENSATION PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 THE GOVERNING DOCUMENTS WILL BE MADE AVAILABLE TO THE PUBIC UPON REQUEST VIA THE U.S. MAIL. OR E- MAIL SERVICE. A & L LLC 1018 N AUSTIN 908 S LOMBARD OAK PARK IL 60304 371785948 OWNS BUILD IL 178734 3634881 OPRC OAK PARK RESIDENCE CORPORATION THE OAKS LLC 114 S HUMPHREY OAK PARK IL 60302 263918817 OWNS APT IL 1075190 2373511 OPRC OAK PARK RESIDENCE CORPORATION ELIZABETH H & CYRUS V GIDDINGS CO 21 SOUTH BOULEVARD OAK PARK IL 60302 363846104 HOUSING IL 501C3 10 OPRC false RC MANAGEMENT SERVICES 21 S BOULEVARD OAK PARK IL 60302 270896947 PROP.MGMT. IL N/A C CORP 78598 46470 1.00000 false false false false false false false false false false false false false false false true false false false false ELIZABETH AND CYRUS GIDDINGS CORP O 24982 GROSS PAID WAGES