2024-11-11T15:05:08-06:00 2023-12-31 205556145 FRAZEE IVY DAVIS PLC 5100 POPLAR AVE STE 1400 MEMPHIS TN 381371499 990 2023-01-01 582158058 FRAYSER COMMUNITY DEVELOPMENT CORPORATION FRAY 9013549403 3684 N WATKINS STREET MEMPHIS TN 38127 DARRELL K SCOTT EXECUTIVE DIRECTOR 9013549403 2024-11-11 1 1 J SLATER SMITHERS CPA P00281055 9016851040 2024-11-11 2023 2024-10-15 13:58:12Z DARRELL K SCOTT 3684 N WATKINS STREET MEMPHIS TN 38127 1635914 0 X WWW.FRAYSERCDC.ORG X 2000 TN TO ACQUIRE AND REHABILITATE AFFORDABLE HOUSING FOR INCOME ELIGIBLE INDIVIDUALS IN THE FRAYSER COMMUNITY IN MEMPHIS, TENNESSEE. THE AREA IS CHARACTERIZED BY HIGH UNEMPLOYMENT, DETERIORATING HOUSING, CRIME AND POVERTY. 12 12 9 10 0 0 477225 612562 949426 1023352 -62040 -27907 0 0 1364611 1608007 0 0 0 0 492396 398703 0 0 0 1266506 1468875 1758902 1867578 -394291 -259571 6541771 6208025 1356688 1282513 5185083 4925512 TO ACQUIRE AND REHABILITATE AFFORDABLE HOUSING FOR INCOME ELIGIBLE INDIVIDUALS IN THE FRAYSER COMMUNITY IN MEMPHIS, TENNESSEE. THE AREA IS CHARACTERIZED BY HIGH UNEMPLOYMENT, DETERIORATING HOUSING, CRIME AND POVERTY. 0 0 1638989 995445 ACQUIRING AND REHABILITATING AFFORDABLE HOUSING FOR INCOME ELIGIBLE INDIVIDUALS IN THE FRAYSER COMMUNITY IN MEMPHIS, TENNESSEE. THE AREA IS CHARACTERIZED BY HIGH UNEMPLOYMENT, DETERIORATING HOUSING, CRIME AND POVERTY. 1638989 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 0 0 1 25 0 1 9 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 TN X X THE ORGANIZATION 9013549403 3684 N WATKINS STREET MEMPHIS TN 38127 X LORA FOWLER DIRECTOR 1.00 X 0 0 0 SHERMAN GREER DIRECTOR 1.00 X 0 0 0 JOHNNIE HATTEN BOARD CHAIR 1.00 X X 0 0 0 PEGGY JEFFERSON DIRECTOR 1.00 X 0 0 0 SHARON COLE DIRECTOR 1.00 X 0 0 0 REGINA DOWEL DIRECTOR 1.00 X 0 0 0 DARRELL SCOTT EXECUTIVE DIRECTOR 1.00 X X 0 0 0 SHELLY RICE DIRECTOR 1.00 X 0 0 0 VERNON WOODS DIRECTOR 1.00 X 0 0 0 YVONNE SPENCER DIRECTOR 1.00 X 0 0 0 PATRICIA BURNETT DIRECTOR 1.00 X X 0 0 0 0 0 0 0 0 0 0 ANDERSON CONTRACTING CO INC 3212 JEAN DR MEMPHIS TN 38118 RENOVATION AND REMODELING SERVICES 390405 1 18058 73196 521308 612562 RENTAL INCOME 531110 947042 947042 COUNSELING, DEVELOPMEN 531110 76310 76310 1023352 27907 -27907 -27907 -27907 1608007 995445 0 0 7813 6527 1286 315945 212341 103604 46205 32343 13862 28740 20118 8622 69947 69947 80491 32411 48080 1757 1054 703 8669 6068 2601 12132 12132 65430 65218 212 299463 296478 2985 96825 96084 741 RENTAL-REPAIR AND MAINT 384718 384718 FRAYSER CONNECT EXPENSE 243180 243180 RENTAL-PROPERTY TAXES 108794 108794 LEASE EXPENSE 25121 7536 17585 72348 44040 28308 1867578 1638989 228589 0 1197700 1022796 239279 252330 7473 20570 141579 126099 550643 654785 6959006 2853372 4405097 4105634 0 25811 6541771 6208025 111349 93346 1135457 1063671 109882 125496 1356688 1282513 X 4642250 4238029 542833 687483 5185083 4925512 6541771 6208025 -259571 0 X X 0 0 0 X 1321390 2047811 264093 477225 612562 4723081 1321390 2047811 264093 477225 612562 4723081 1177276 3545805 4723081 0.75070 0.86290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1028610 1028610 5898476 2821452 3077024 31920 31920 0 4105634 RENTAL DEPOSITS 67823 LEASE/PURCHASE ESCROW 19571 DEFERRED REVENUES 5232 SECURITY DEPOSITS 6934 LEASE LIABILITIES 25936 125496 FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S BOARD IS ELECTED BY MEMBERS OF THE FRAYSER COMMUNITY ASSOCIATION THAT HAS IT'S ANNUAL MEETING IN JANUARY. THE ORGANIZATION'S BYLAWS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE 990 IN DETAIL WITH THE CPA PRIOR TO SUBMISSION TO THE IRS. COPIES ARE DISTRIBUTED TO BOARD MEMBERS AFTER SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, THE POLICY IS DISTRIBUTED AND REVIEWED AT THE FIRST BOARD MEETING OF THE TERM. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE THEN ASKED TO DECLARE POTENTIAL CONFLICTS AND SIGN A STATEMENT THAT EACH HAS REVIEWED THE POLICY AND NOTED ANY POTENTIAL CONFLICTS DURING THE YEAR. POTENTIAL CONFLICTS ARE MONITORED BY THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES. QUESTIONABLE SITUATIONS ARE PRESENTED TO THE BOARD FOR REVIEW. OUTSIDE CONSULTANTS (ATTORNEYS) ARE CONSULTED AS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 PERFORMANCE REVIEWS OF ALL STAFF ARE CONDUCTED ANNUALLY. THE EXECUTIVE DIRECTOR IS REVIEWED BY A PERSONNEL COMMITTEE APPOINTED BY THE BOARD PRESIDENT. KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE DIRECTOR AND COPIES OF EVALUATIONS ARE SUBMITTED TO THE PERSONNEL COMMITTEE FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE THROUGH THE TENNESSEE SECRETARY OF STATE'S WEBSITE, AND UPON REQUEST AT THE ORGANIZATION'S PREMISES. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.