2024-11-11T16:02:11-06:00 2023-12-31 582646754 CARTER & COMPANY CPAS LLC PO BOX 279 DESTIN FL 32540 990 2023-01-01 330861387 AOFGOLDEN STATE COMMUNITY DEVELOPMENT CORP AOFG 7147991339 7755 CENTER AVENUE 575 HUNTINGTON BEACH CA 92647 KATHRYN T WALKER SVP-FINANCE 7709332263 2024-11-11 1 0 SAMUEL T BOERMA P00614373 8506500125 2023 2024-10-15 13:58:12Z KATHRYN T WALKER 7755 CENTER AVENUE SUITE 575 HUNTINGTON BEACH CA 92647 413609 0 7174 X WWW.AOFGOLDENSTATE.COM X 1999 CA TO ACQUIRE, REHABILITATE, RENT AND SELL AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY, AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES. 5 3 1 0 0 0 0 0 366253 413381 316 228 0 0 366569 413609 0 0 0 0 160807 171179 0 0 0 254943 216901 415750 388080 -49181 25529 2278391 2449178 2751499 2896757 -473108 -447579 TO ACQUIRE, REHABILITATE, RENT AND SELL AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY, AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES. 0 0 228392 247054 RENTAL PROPERTIES ARE REHABILITATED AND LEASED TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES. 20922 OPERATION OF TWO APARTMENT BUILDINGS FOR LOW INCOME TENANTS. 139923 145405 TO PROVIDE ELEVEN AFFORDABLE RENTAL UNITS TO LOW-INCOME AND VERY LOW-INCOME SENIORS IN ALHAMBRA. 368315 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X AJAY NAYAR 7147991339 7755 CENTER AVE SUITE 575 HUNTINGTON BEACH CA 92647 DANIEL DO-KHANH TRUSTEE 0.20 0.20 X 0 0 0 SAN PHAM TRUSTEE 0.20 X 0 0 0 CYNTHIA GRADY TRUSTEE 0.20 X 0 0 0 KATHRYN T WALKER SVP-FINANCE, TRUSTEE 3.00 40.00 X X 0 400000 59815 SHARON TRAN SECRETARY, TRUSTEE 1.00 40.00 X X 0 200666 39592 BRETT MASCARO PRESIDENT, TRUSTEE 1.00 40.00 X X 0 349375 46697 AJAY NAYER VICE PRESIDENT 40.00 X 134792 0 20931 134792 950041 167035 1 0 1 0 0 ASSET ADMINISTRATION 531310 247054 247054 RENTS - LA VALENCIA 531110 145405 145405 LAUREL WOODS AHLP K-1 531390 20922 20922 413381 228 228 413609 413381 0 228 140000 126000 14000 12000 10800 1200 8736 7862 874 10443 9399 1044 49592 49592 4122 3710 412 2480 2232 248 4140 3726 414 141 141 1059 1059 9623 9623 63575 63575 656 590 66 FACILITIES EXPENSE 66722 66722 PROFESSIONAL EXPENSES 13982 12584 1398 TAXES, LICENSES, & FEES 490 490 AUTOMOBILE EXPENSES 210 210 109 109 388080 368315 19765 0 271252 481594 23869 26640 3848 4176 2884993 1111193 1836761 1773800 139179 160100 3482 2868 2278391 2449178 57700 34902 608 2143 2681801 2646677 11390 213035 2751499 2896757 X -473108 -447579 -473108 -447579 2278391 2449178 25529 0 X X 0 1 X 1 0 X 258616 270992 249751 366253 413381 1558993 258616 270992 249751 366253 413381 1558993 0 0 0 1558993 999 590 466 316 228 2599 999 590 466 316 228 2599 259615 271582 250217 366569 413609 1561592 0.99830 0.99790 0.00170 0.00210 X 400000 400000 2280715 906915 1373800 33500 33500 0 113150 113150 0 57628 57628 0 1773800 INVESTMENT IN LAUREL WOODS AFFORDABLE 160100 C 160100 SECURITY DEPOSIT LIABILITY 11035 ADVANCES FROM AFFILIATES 202000 213035 X PART X, LINE 2: GOLDEN STATE IS CLASSIFIED AS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. GOLDEN STATE HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10 INCOME TAXES. IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE IMPLEMENTATION OF ASC 740-10 HAD NO IMPACT ON THE GOLDEN STATE'S STATEMENT OF FINANCIAL POSITION OR STATEMENT OF ACTIVITIES. GOLDEN STATE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. 0 0 0 0 0 0 0 0 0 KATHRYN T WALKER SVP-FINANCE, TRUSTEE 0 260000 0 125000 0 15000 0 37397 0 22418 0 459815 0 0 BRETT MASCARO PRESIDENT, TRUSTEE 0 299375 0 50000 0 0 0 37397 0 9300 0 396072 0 0 SHARON TRAN SECRETARY, TRUSTEE 0 170666 0 30000 0 0 0 20476 0 19116 0 240258 0 0 AJAY NAYER VICE PRESIDENT 119792 0 15000 0 0 0 12291 0 8640 0 155723 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B CFO OF PARENT ORGANIZATION REVIEWS THE TAX RETURN, AS DOES THE PRESIDENT. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND OFFICERS DISCUSS, REVIEW AND SIGN THE POLICY ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION ENGAGED AN INDEPENDENT COMPENSATION CONSULTING FIRM IN 2019 TO PREPARE A COMPENSATION STUDY FOR THE POSITION OF VICE PRESIDENT AND INTERESTED PERSONS. THIS STUDY WAS COMPLETED IN MAY 2019. THE ORGANIZATION HAS A COMPENSATION COMMITTEE WHICH REVIEWS THE VICE PRESIDENT'S SALARY AND MAKES RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE FOR REVIEW AT CORPORATE ADDRESS. FORM 990, PART XII, LINE 2C: NO CHANGE FROM THE PRIOR YEAR. 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