2024-04-26T09:09:32-05:00 2023-06-30 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2022-07-01 043460631 WESTFIELD 202 INC WEST 8572218600 CO TCB INC 185 DARTMOUTH STREET BOSTON MA 02116 D MORGAN WILSON TREASURER 8572218600 2024-04-25 1 D MORGAN WILSON 999009999 1 JOLANTA TUCK CPA P01340068 7813803520 2024-04-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHILLIP CLAY C/O TCB INC 185 DARTMOUTH STREET BOSTON MA 02116 478385 0 X N/A X 1999 MA LOW-INCOME HOUSING FOR THE ELDERLY. 6 6 0 6 0 0 291910 289295 180638 185884 47 301 2541 2905 475136 478385 0 0 0 0 0 0 0 0 0 698236 594098 698236 594098 -223100 -115713 3039210 2929733 576115 582351 2463095 2347382 WESTFIELD 202, INC.'S PRIMARY PURPOSE IS TO PROVIDE ELDERLY PERSONS OF LOW AND VERY LOW INCOME WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR NEEDS. 0 0 548099 188789 WESTFIELD 202, INC. PROVIDED 46 UNITS OF RESIDENTIAL HOUSING AND SUPPORT SERVICES TO LOW AND VERY LOW INCOME ELDERLY PERSONS IN WESTFIELD, MASSACHUSETTS. 548099 1 1 0 0 0 0 0 0 1 0 1 0 0 1 0 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 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 MA X D MORGAN WILSON 8572218600 185 DARTMOUTH STREET BOSTON MA 02116 X PHILLIP L CLAY PRESIDENT 0.10 X X 0 0 0 JOHN LUTZ DIRECTOR 0.10 X 0 0 0 SUSAN MCCANN SECRETARY 0.10 X X 0 0 0 JAMES F RUSHFORD CLERK 0.10 X X 0 0 0 D MORGAN WILSON TREASURER 0.10 X X 0 0 0 WILLIE JONES DIRECTOR 0.10 X 0 0 0 0 0 0 0 0 0 0 THE COMMUNITY BUILDERS INC 185 DARTMOUTH STREET BOSTON MA 02116 MANAGEMENT SERVICES 170990 1 289295 289295 TENANT RENTAL INCOME 531110 185884 185884 185884 301 301 LAUNDRY & VENDING 531110 2905 2905 2905 478385 188789 0 301 X 24288 24288 21711 21711 113055 113055 27183 27183 240253 240253 1949 1949 137831 137831 SERVICE EXPENSE 27828 27828 594098 548099 45999 0 48154 8899 1378 1688 31427 5384585 2849972 2668611 2534613 150461 146628 170606 206478 3039210 2929733 61686 67077 471 1499 13958 13775 500000 500000 576115 582351 X 2463095 2347382 2463095 2347382 3039210 2929733 -115713 0 X 0 1 X 1 1 1 X 293569 295444 298378 291910 289295 1468596 181249 182666 181507 180638 185884 911944 474818 478110 479885 472548 475179 2380540 0 0 0 2380540 61 71 58 47 301 538 61 71 58 47 301 538 22927 2644 2620 2541 2905 33637 497806 480825 482563 475136 478385 2414715 0.98580 0.98710 0.00020 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 5302403 2767806 2534597 1195 1195 0 80987 80971 16 2534613 RESERVE FOR REPLACEMENTS 178888 RESIDUAL RECEIPTS RESERVE 13024 TENANT DEPOSITS 14566 206478 X 478385 0 478385 0 478385 594098 0 594098 0 594098 PART IV, LINE 2B: THE CORPORATION HAS A POLICY TO COLLECT SECURITY DEPOSITS OF UP TO ONE MONTH'S RENT FROM TENANTS. THE SECUTIRY DEPOSITS CAN BE USED TO PAY FOR DAMAGES CAUSED BY THE TENANT OR USED AGAINST UNPAID RECEIVABLES. PART X, LINE 2: THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2023. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2019 REMAIN OPEN. FORM 990, PART VI, SECTION A, LINE 3 THE COMMUNITY BUILDERS (TCB), AN AFFILIATE OF THE CORPORATION, SERVES AS THE MANAGEMENT AGENT FOR THE PROJECT. THE MANAGEMENT FEE IS CALCULATED AS 9% OF THE GROSS COLLECTIONS COMPUTED MONTHLY BUT NOT TO EXCEED $44 PER UNIT. THE MANAGEMENT AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR THE MANAGEMENT AGENT. DURING THE YEAR ENDED JUNE 30, 2023, MANAGEMENT FEES OF $24,288 WERE INCURRED. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 THE CORPORATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 113,055. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 113,055.