2024-11-15T06:52:08-06:00 2023-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2023-01-01 042944144 HOUSING CORPORATION OF ARLINGTON HOUS 7818595294 252 MASSACHUSETTS AVE ARLINGTON MA 02474 ERICA SCHWARZ EXECUTIVE DIRECTOR 7818595294 2024-11-14 1 1 JUSTIN K LEROUX CPA P01722988 5083669100 2024-11-14 2023 2024-10-15 13:58:12Z THOMAS NEE 252 MASSACHUSETTS AVE ARLINGTON MA 02474 840033 0 X WWW.HOUSINGCORPARLINGTON.ORG X 1986 MA THE HOUSING CORPORATION OF ARLINGTON PROVIDES AFFORDABLE, STABLE HOUSING AND EMPOWERS RESIDENTS IN ORDER TO BUILD A SUPPORTIVE AND EQUITABLE COMMUNITY. 14 14 0 14 0 0 3765246 793017 1113221 46600 4331 1 172955 415 5055753 840033 81502 114761 0 0 392187 409845 0 0 0 5151319 376673 5625008 901279 -569255 -61246 21110462 10765439 22220285 6355617 -1109823 4409822 TO ACQUIRE, DEVELOP, IMPROVE, SELL, MANAGE (MORTGAGE, REMORTGAGE) AND LEASE AFFORDABLE HOUSING IN THE TOWN OF ARLINGTON FOR LOW AND MODERATE INCOME FAMILIES AND TO PROVIDE OTHER SOCIAL AND CIVIC SERVICES TO BENEFIT LOW AND MODERATE INCOME MEMBERS OF SOCIETY. 0 0 47015 THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELS BELOW MARKET RATES. THE RENTAL PROGRAM INCLUDES 150 AFFORDABLE APARTMENTS OWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTS IN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATION OF ARLINGTON THAT WERE ATRRIBUTABLE TO THE OVERALL AFFORDABLE HOUSING PROGRAM. 739950 114761 IN 2023 THE SOCIAL SERVICES PROGRAM INCLUDED HCA'S HOMELESSNESS PREVENTION PROGRAM (HPP) AMONG OTHER EFFORTS. HPP PROVIDES EMERGENCY GRANTS TO HOUSEHOLDS AT RISK OF HOMELESSNESS. GRANTS ARE USED FOR BACK RENT, SECURITY DEPOSIT, OR MOVING EXPENSES. THE SOCIAL SERVICES PROGRAM ALSO ASSISTS HOUSEHOLDS IN FINDING AFFORDABLE APARTMENTS, AND IN ACCESSING OTHER SERVICES TO SUPPORT FAMILY AND HOUSEHOLD STABILITY.THE SOCIAL SERVICES PROGRAM ALSO INCLUDES CIVIC ENGAGEMENT OF LOW-INCOME TENANTS ON ISSUES THAT IMPACT THEM, INCLUDING THROUGH THE HCA TENANT COUNCIL AND OPPORTUNITIES TO ADVOCATE FOR HOUSING RELATED ISSUES AT THE LOCAL AND STATE LEVEL. 739950 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X TAKA MASHOKO 7818595294 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 X THOMAS NEE PRESIDENT 3.00 1.00 X X 0 0 0 NEAL MONGOLD VICE PRESIDENT 2.00 1.00 X X 0 0 0 JONATHAN WALLACH TREASURER 3.00 1.00 X X 0 0 0 DEIRDRE WESTCOTT CLERK 3.00 X X 0 0 0 MAKEELIA PARKER DIRECTOR 2.00 X 0 0 0 JOHN COOPER DIRECTOR 2.00 X 0 0 0 KINJAL SINGH DIRECTOR 2.00 X 0 0 0 JILLIAN STANDISH DIRECTOR (AS OF 10/23) 2.00 X 0 0 0 LAURA WIENER DIRECTOR 2.00 X 0 0 0 MATTHEW PIERCE DIRECTOR 2.00 X 0 0 0 FRANCIS TADLEY DIRECTOR (UNTIL 10/23) 2.00 X 0 0 0 TINA ANDERSON DIRECTOR (AS OF 10/23) 2.00 X 0 0 0 ELENA ARRENDOL DIRECTOR (AS OF 10/23) 2.00 X 0 0 0 DANIELLE CHERY DIRECTOR 2.00 X 0 0 0 KEN GARDEN DIRECTOR (AS OF 10/23) 2.00 X 0 0 0 ERICA SCHWARZ EXECUTIVE DIRECTOR 40.00 1.00 X 0 0 0 0 0 0 0 0 0 0 0 316331 476686 50 793017 MANAGEMENT FEES 531390 38077 38077 RENTAL INCOME 531120 8523 8523 46600 1 1 OTHER INCOME 531110 415 415 415 840033 47015 0 1 114761 114761 357504 357504 22322 22322 30019 30019 9792 9792 121605 121605 23333 23333 42020 13069 28951 16546 16546 105767 105767 2200 1219 981 3405 3405 MISCELLANEOUS 45373 45373 STAFF DEVELOPMENT 6632 6632 901279 739950 161329 0 706194 206814 10349 1187 505079 39461 14740 153458 93665 14946911 59793 5407547 9977826 21110462 10765439 508659 261565 57887 20553739 5387736 1100000 706316 22220285 6355617 X -1109823 4409822 -1109823 4409822 21110462 10765439 -61246 5580891 0 X X 0 1 X 1 0 X 515791 1319941 579947 3765246 793017 6973942 515791 1319941 579947 3765246 793017 6973942 6973942 4864 1272 80 4331 1 10548 6984490 5085249 0.99850 0.99790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 137851 84859 52992 15607 8806 6801 59793 DUE FROM AFFILIATES 2896741 PROJECTS UNDER DEVELOPMENT 3972918 LOAN LOSS PROVISION 3108167 9977826 CONDITIONAL GRANT ADVANCE 600000 LINES OF CREDIT 24519 DUE TO AFFILIATES 81797 706316 X PART IV, LINE 2B: HCA MAINTAINS TENANT SECURITY DEPOSITS IN A CUSTODIAL CAPACITY IN ACCORDANCE WTIH TENANT RENTAL AGREEMENTS. PART X, LINE 2: THE AGENCY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE AGENCY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2023. HOWEVER, THE AGENCY IS SUBJECT TO AUDIT BY TAX AUTHORITIES. 1 HOMELESS PREVENTION PROGRAM 0 114761 N/A PART I, LINE 2: THE HOMELESSNESS PREVENTION PROGRAM WAS CREATED TO PROVIDE EMERGENCY FINANCIAL SUPPORT TO ARLINGTON RESIDENTS FACING POSSIBLE HOMELESSNESS. THE PROGRAM PROVIDES GRANTS TO ASSIST WITH BACK RENT, AN UNEXPECTED CRISIS OR SECURITY DEPOSITS. GRANTS ARE CAPPED AT $2,500 AND ARE GIVEN ONLY IN CASES IN WHICH THE ASSISTANCE WILL STABILIZE HOUSING FOR A RESIDENT FOR AT LEAST A SIX MONTH PERIOD. FORMAL PROGRAM GUIDELINES SET FORTH ELIGIBLE COSTS, INCOME LIMITS OF APPLICANTS, AND FUNDING LIMITS. THE PROGRAM IS ADMINISTERED BY HCA. A COMMITTEE COMPOSED OF THREE ARLINGTON COMMUNITY MEMBERS CHOSEN DUE TO THEIR RELEVANT KNOWLEDGE OR EXPERIENCE MAKE A RECOMMENDATION FOR GRANTS. MANAGEMENT OF HCA MAKES THE FINAL FUNDING DECISIONS. FORM 990, PART VI, SECTION A, LINE 3 THE AGENCY HAS AN AGREEMENT WITH PEABODY PROPERTIES, INC. (PEABODY), AN UNRELATED ENTITY TO CARRY ON THE DAY-TO-DAY OPERATIONS OF THE PROJECTS. PEABODY RECEIVES A MANAGEMENT FEE OF 5% HCA'S RENTAL UNITS' GROSS RENTS, AS DEFINED IN THE AGREEMENT. FORM 990, PART VI, SECTION B, LINE 11B HCA'S EXECUTIVE DIRECTOR AND TREASURER REVIEW A DRAFT OF THE FORM 990. ONCE APPROVED BY THE EXECUTIVE DIRECTOR AND TREASURER A FINAL VERSION OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C HCA REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY HAVING THE BOARD MEMBERS SIGN THIS POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS TO ENSURE THEY ARE COMPARABLE TO SIMILAR ORGANIZATIONS AND REASONABLE FOR THE DUTIES BEING PERFORMED. THE SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS. APPROXIMATELY NINETY (90) DAYS AFTER A TOP MANAGEMENT OFFICIAL BEGINS EMPLOYMENT WITH HCA, THE EXECUTIVE COMMITTEE WILL COMPLETE A PERFORMANCE EVALUATION. THEREAFTER, A PERFORMANCE EVALUATION IS GENERALLY HELD ANNUALLY IN THE TOP MANAGEMENT OFFICIAL'S ANNIVERSARY MONTH. IF A SALARY ACTION IS APPROPRIATE BASED UPON THE PERFORMANCE EVALUATION, IT WILL GENERALLY OCCUR AT THE SAME TIME THE ANNUAL PERFORMANCE EVALUATION IS COMPLETED. APPROXIMATELY NINETY (90) DAYS AFTER AN EMPLOYEE BEGINS EMPLOYMENT WITH HCA, THE IMMEDIATE SUPERVISOR WILL COMPLETE A PERFORMANCE EVALUATION IN CONSULTATION WITH THE EXECUTIVE DIRECTOR. THEREAFTER, A PERFORMANCE EVALUATION IS GENERALLY HELD ANNUALLY IN THE EMPLOYEE'S ANNIVERSARY MONTH. IF A SALARY ACTION IS APPROPRIATE BASED UPON THE EMPLOYEE'S PERFORMANCE EVALUATION, IT WILL GENERALLY OCCUR AT THE SAME TIME OF THE EMPLOYEE'S ANNUAL PERFORMANCE EVALUATION IS COMPLETED. FORM 990, PART VI, SECTION C, LINE 18 HCA'S FORM 990 IS AVAILABLE UPON REQUEST AND ON WWW.GUIDESTAR.ORG. HCA'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 HCA'S FORM 990 IS AVAILABLE UPON REQUEST AND ON WWW.GUIDESTAR.ORG. HCA'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. HOLY SAGE KRP LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 843912985 AFFORDABLE HOUSING MA HOUSING CORPORATION OF ARLINGTON ACADEMY DEVELOPMENT PARTNERS INC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 371654418 AFFORDABLE HOUSING MA 501(C)(3) LINE 7 HOUSING CORPORATION OF ARLINGTON 1 HCA CAPITOL SQUARE APARTMENTS LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 460615711 RENTAL REAL ESTATE MA N/A 0 0 DSBI LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 843968780 RENTAL REAL ESTATE MA N/A 0 0 252 258-260 MASS AVE LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 800898408 RENTAL REAL ESTATE MA HOUSING CORPORATION OF ARLINGTON C -1563 0.79000 1 DSBI MANAGER LLC 252 MASSACHUSETTS AVENUE ARLINGTON MA 02474 872035443 RENTAL REAL ESTATE MA HOUSING CORPORATION OF ARLINGTON C 0.79000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0