2023-11-15T09:05:53-06:00 2022-12-31 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2022-01-01 561236679 MCDOWELL HOUSING CORPORATION MCDO 3367653906 2585 W CLEMMONSVILLE RD SUITE 102 WINSTONSALEM NC 27127 LARRY RAMSEY PRESIDENT 3367653906 2023-11-08 1 LARRY RAMSEY 999009999 0 IRISH THURSTON P01662190 3362944494 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BLUE RIDGE TERRACE APARTMENTS LARRY RAMSEY 2585 W CLEMMONSVILLE RD SUITE 102 WINSTONSALEM NC 27127 586096 0 X N/A X 1979 NC TO PROVIDE LOW INCOME HOUSING TO FAMILIES AND INDIVIDUALS IN MARION, NORTH CAROLINA. 7 7 0 7 0 0 400836 411922 175245 174083 93 91 0 0 576174 586096 0 0 0 0 0 0 0 0 0 458870 511280 458870 511280 117304 74816 1056935 1095051 1433251 1396551 -376316 -301500 X MCDOWELL HOUSING CORPORATION, A NORTH CAROLINA NOT-FOR-PROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 60-UNIT APARTMENT COMMUNITY IN MARION, NORTH CAROLINA, KNOWN AS BLUE RIDGE TERRACE APARTMENTS, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) PROVIDES RENT FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 0 0 500073 174083 MCDOWELL HOUSING CORPORATION, A NORTH CAROLINA NOT-FOR-PROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 60-UNIT APARTMENT COMMUNITY IN MARION, NORTH CAROLINA, KNOWN AS BLUE RIDGE TERRACE APARTMENTS, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) PROVIDES RENT FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. 500073 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 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 X NC HOUSING SERVICES & MANAGEMENT CO 3367653906 2585 W CLEMMONSVILLE RD SUITE 102 WINSTONSALEM NC 27127 X LARRY RAMSEY PRESIDENT 0.00 X X 0 0 0 ALLEN MCKINNEY VICE PRESIDENT 0.00 X X 0 0 0 JAMES WASHBURN SECRETARY/TREASURER 0.00 X X 0 0 0 CLINE PYATT DIRECTOR 0.00 X 0 0 0 DEBORAH LANEY DIRECTOR 0.00 X 0 0 0 DOUG JOHNSON DIRECTOR 0.00 X 0 0 0 GERETHA BYRD DIRECTOR 0.00 X 0 0 0 0 0 0 0 0 0 0 0 411922 411922 TENANT RENTAL PAYMENTS 531110 160585 160585 TENANT CHARGES 531110 10729 10729 LAUNDRY AND VENDING 531110 2769 2769 174083 91 91 586096 174083 0 91 X 34791 34791 707 707 5332 5332 14053 14053 13378 13378 240 240 58266 58266 43326 43326 55379 55379 MANAGER SALARY REIMBURS 66823 66823 PAYROLL REIMBURSEMENT 54689 54689 ASSISTED LIVING EXPENSE 48941 48941 CONTRACTS 41078 41078 74277 68402 5875 511280 500073 11207 0 73540 13040 238790 330123 1992 3096 74503 88875 2833066 2263000 573878 570066 74194 70639 20038 19212 1056935 1095051 45435 50669 32 32 1367746 1326638 20038 19212 1433251 1396551 X -376316 -301500 -376316 -301500 1056935 1095051 74816 0 X 0 1 X 1 1 1 X 386549 383790 400707 400836 411922 1983804 157417 170356 169830 175245 174083 846931 543966 554146 570537 576081 586005 2830735 0 0 0 2830735 105 118 106 93 91 513 105 118 106 93 91 513 544071 554264 570643 576174 586096 2831248 0.99980 0.99980 0.00020 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 90000 90000 2323213 1998282 324931 70498 67456 3042 349355 197262 152093 570066 TENANT SECURITY DEPOSITS 19212 19212 X 586096 0 586096 0 586096 511280 0 511280 0 511280 PART X, LINE 2: IT IS THE CORPORATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2022. FORM 990, PART VI, SECTION A, LINE 3 THE BOARD OF DIRECTORS HAS DELEGATED THE MANAGEMENT OF THE RENTAL APARTMENTS TO THE NORTH CAROLINA HOUSING SERVICES AND MANAGEMENT CORPORATION. THE APARTMENT COMPLEX IS REGULATED BY U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. NORTH CAROLINA HOUSING SERVICES AND MANAGEMENT CORPORATION WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE CORPORATION SHALL, AT ALL TIMES, BE LIMITED TO INDIVIDUALS WHO ARE EITHER (1) DIRECTORS OF THE MARION, NORTH CAROLINA LIONS CLUB, OR (2) MEMBERS OF THE MARION, NORTH CAROLINA LIONS CLUB OR RESIDENTS OF MCDOWELL COUNTY, NORTH CAROLINA, WHO HAVE APPROVAL OF THE BOARD OF DIRECTORS OF THE MARION, NORTH CAROLINA LIONS CLUB. FORM 990, PART VI, SECTION A, LINE 7A THE OFFICERS OF THE CORPORATION, AS PROVIDED BY THE BY-LAWS OF THE CORPORATION, SHALL BE ELECTED BY THE TRUSTEES OF THE CORPORATION, IN THE MANNER THEREIN SET OUT, AND SHALL SERVE UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED. THE TRUSTEES SHALL ELECT THE REGULAR OFFICERS OF THE CORPORATION AT THE ANNUAL MEETING, FOR TERMS OF ONE YEAR. FORM 990, PART VI, SECTION A, LINE 8B ALL DECISIONS REGARDING THE ENTITY MUST BE AGREED UPON BY A MAJORITY OF THE BOARD MEMBERS. NO BOARD MEMBER MAY ACT INDEPENDENTLY OF THE BOARD IN MATTERS REGARDING THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE REVIEWED, APPROVED AND SIGNED BY DESIGNATED OFFICERS ON BEHALF OF THE CORPORATION. FORM 990, PART VI, SECTION C, LINE 19 ALL TAX RETURNS, OTHER GOVERNMENT FILINGS, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE OFFICES OF THE MANAGEMENT COMPANY: NORTH CAROLINA HOUSING SERVICES AND MANAGEMENT CORPORATION, 2585 W CLEMMONSVILLE ROAD, SUITE 102, WINSTON-SALEM, NC 27127. FORM 990, PART IX, LINE 24E SUPPLIES: PROGRAM SERVICE EXPENSES 26,177. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,177. PAYROLL TAX REIMBURSEMENT: PROGRAM SERVICE EXPENSES 9,150. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,150. OFFICE SALARY REIMBURSEMENT: PROGRAM SERVICE EXPENSES 8,640. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,640. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 8,277. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,277. MISC OPERATING EXPENSES: PROGRAM SERVICE EXPENSES 7,065. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,065. MORTGAGE INSURANCE PREMIUMS: PROGRAM SERVICE EXPENSES 6,055. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,055. MISC ADMINISTRATIVE EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,875. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,875. GARBAGE & TRASH REMOVAL: PROGRAM SERVICE EXPENSES 1,273. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,273. SECURITY CONTRACT: PROGRAM SERVICE EXPENSES 1,069. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,069. OTHER RENTING EXPENSES: PROGRAM SERVICE EXPENSES 696. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 696.