2024-11-14T15:31:28-06:00 2023-12-31 943108253 NOVOGRADAC & COMPANY LLP 211 CONGRESS STREET SUITE 710 BOSTON MA 02110 990 2023-01-01 222527669 ACRE TRIANGLE COMMUNITY DEVELOPMENT CORPORATION ACRE 9784527523 517 MOODY STREET LOWELL MA 01854 P DEBORAH MOTEW VP 9784527523 2024-11-14 1 1 CHARLES A RHUDA III P00133647 6173301920 2023 2024-10-15 13:58:12Z RICHARD CHAVEZ 517 MOODY STREET LOWELL MA 01854 313310 0 1 X N/A X 1983 MA PROPERTY MANAGEMENT - MANAGES PROPERTIES DEVELOPED TO HOUSE LOW AND MODERATE INCOME RESIDENTS 12 12 0 0 0 26970 0 0 273336 282742 97 208 31115 30360 304548 313310 40000 75000 0 0 38297 45360 0 0 0 211510 225864 289807 346224 14741 -32914 2094323 2065477 306831 310899 1787492 1754578 MANAGE AFFORDABLE HOUSING 0 0 329152 75000 313102 PROPERTY MANAGEMENT - MANAGES PROPERTIES DEVELOPED TO HOUSE LOW AND MODERATE INCOME RESIDENTS AS WELL AS MANAGEMENT OF COMMERCIAL BUILDING USED MAINLY FOR MINORITY BUSINESSES. 329152 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X THE CORPORATION 9784527523 517 MOODY STREET LOWELL MA 01854 JESS WILSON DIRECTOR 1.00 X 0 0 0 SIXTO DEJESUS CHAIR 1.00 X 0 0 0 RICHARD CHAVEZ TREASURER 1.00 X 0 0 0 PAUL GAUDET DIRECTOR 1.00 X 0 0 0 PATTY COFFEY DIRECTOR 1.00 X 0 0 0 CARLOS GONZALEZ DIRECTOR 1.00 X 0 0 0 MASADA JONES CLERK 1.00 X 0 0 0 MUSU GAYE DIRECTOR 1.00 X 0 0 0 PETER MARTIN DIRECTOR 1.00 X 0 0 0 ERIC PONN EXECUTIVE COMMITTEE 1.00 X 0 0 0 THOMAS EMERY DIRECTOR OF REAL ESTATE 1.00 X 0 100006 20534 CARMEN BERMUDEZ DIRECTOR 1.00 X 0 0 0 DEBORAH MOTEW VICE CHAIR 1.00 X 0 0 0 LAURA TAVARES DIRECTOR 1.00 X 0 0 0 MARY WAMBUI DIRECTOR 1.00 X 0 0 0 CLAIRE RICKER DIRECTOR OF REAL ESTATE 1.00 X 0 0 0 MARIA GUTIERREZ-YAPUR DIRECTOR OF PROGRAMS 1.00 X 0 76733 3837 AMADA GREGORY DIRECTOR 1.00 X 0 0 0 SIDNEY LIANG DIRECTOR 1.00 X 0 0 0 ZELMA LYONS-KHADAR VICE CHAIR 1.00 X 0 0 0 THAO LAN 5TH EXECUTIVE, CLERK 1.00 X 0 0 0 LESLIE BRIONES DIRECTOR 1.00 X 0 0 0 BRANDY DAILEY DIRECTOR 1.00 X 0 0 0 GEORGE RAMIREZ DIRECTOR 1.00 X 0 0 0 SHAMIR ROVERA-QUINTAL DIRECTOR OF OPERATIONS 1.00 X 0 74900 25685 MICHELE WITTS CHIEF FINANCIAL OFFICER 40.00 X 0 112658 21465 YUN JU CHOI EXECUTIVE DIRECTOR 40.00 X 0 145456 15840 0 509753 87361 0 0 1 0 0 RENTAL INCOME 531110 282742 282742 282742 208 208 MISCELLANEOUS 531110 30360 30360 30360 313310 313102 0 208 75000 75000 37190 37190 4817 4817 3353 3353 8500 8500 8264 8264 12199 12199 26051 26051 16306 16306 CONTRACTED SERVICES 56266 56266 REAL ESTATE TAXES 43357 43357 UTILITIES 29386 29386 PROPERTY MANAGEMENT FEE 12518 12518 13017 8463 4554 346224 329152 17072 0 130904 89082 5464 4532 802875 443888 370337 358987 5307 4963 1582311 1607913 2094323 2065477 48394 63685 253394 241845 5043 5369 306831 310899 X 1787492 1754578 1787492 1754578 2094323 2065477 -32914 0 X X 0 1 X 1 0 X 220882 227290 248754 273336 282742 1253004 220882 227290 248754 273336 282742 1253004 0 0 0 1253004 83 67 86 97 208 541 83 67 86 97 208 541 30890 30907 30368 31115 30360 153640 251855 258264 279208 304548 313310 1407185 0.89040 0.88650 0.00040 0.00040 X 76886 76886 484647 275627 209020 131890 74872 57018 109452 93389 16063 358987 RECEIVABLES FROM RELATED PARTIES 1352582 MORTGAGE ESCROWS 61152 REPLACEMENT RESERVE 194179 1607913 DUE TO AFFILIATES 2561 SECURITY DEPOSITS 2021 PREPAID RENT 787 5369 X PART X, LINE 2: THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE COMPANY TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE COMPANY. THE COMPANY HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE COMPANY'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE COMPANY ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. FORM 990, PART IV, LINE 11F THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE COMPANY TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE COMPANY. THE COMPANY HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE COMPANY'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE COMPANY ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 1 COALITION FOR A BETTER ACRE INC 517 MOODY STREET LOWELL MA 01854 042760272 501(C)(3) 75000 0 SUPPORT OPERATIONS 0 0 0 0 0 0 0 0 0 YUN JU CHOI EXECUTIVE DIRECTOR 0 145456 0 0 0 0 0 0 0 15840 0 161296 0 0 SCHEDULE J, PART II, LINE 1 A REVIEW OF COMPENSATION FOR EXECUTIVE DIRECTORS OR COMPARABLY SIZED COMMUNITY DEVELOPMENT CORPORATIONS WAS PERFORMED BY THE BOARD IN CONJUCTION WITH THE HIRING OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR PERIODICALLY REVIEWS SUCH DATA FOR KEY MANAGEMENT STAFF TO ENSURE SALARIES ARE IN LINE WITH COMPARABLE ORGANIZATIONS BY SIZE, GEOGRAPHY AND MISSION FOCUS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 IF THERE ARE NO QUESTIONS OR CONCERNS FOR THE AUDITING FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE COMPANY REVIEWS THE POLICY ANNUALLY AT A BOARD MEETING WHERE BOARD MEMBERS SIGN AN AFFIDAVIT STATING THAT THEY WILL ADHERE TO THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 A REVIEW OF COMPENSATION FOR EXECUTIVE DIRECTORS OF COMPARABLY SIZED COMMUNITY DEVELOPMENT CORPORATIONS WAS PERFORMED BY THE BOARD IN CONJUCTION WITH THE HIRING OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR PERIODICALLY REVIEWS SUCH DATA FOR KEY MANAGEMENT STAFF TO ENSURE SALARIES ARE IN LINE WITH COMPARABLE ORGANIZATIONS BY SIZE, GEOGRAPHY AND MISSION FOCUS. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS IS CONSISTENT WITH PRIOR YEARS. 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