2024-11-15T17:46:58-06:00 2023-12-31 221478099 COHNREZNICK LLP 621 CAPITOL MALL SUITE 2150 SACRAMENTO CA 95814 990 2023-01-01 813992387 ROLLAND CURTIS COMMERCIAL QALICB INC ROLL 2132252826 1149 S HILL STREET 700 LOS ANGELES CA 90015 RICK SAPERSTEIN EVP & TREASURER 2132252826 2024-11-15 1 1 JOLANTA TUCK CPA P01340068 9164429100 2024-11-15 2023 2024-10-15 13:58:12Z HOLLY BENSON 1149 S HILL STREET 700 LOS ANGELES CA 90015 200910 0 X N/A X 2016 CA ROLLAND CURTIS COMMERCIAL QALICB, INC. IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION FORMED TO SUPPORT ABODE COMMUNITES, A CALIFORNIA NONPROFIT CORPORATION WHOSE MISSION IT IS TO CREATE SERVICE-ENHANCED AFFORDABLE HOUSING AND SOCIALLY-BENEFICIAL COMMUNITY FACILITIES THAT PROMOTE SOCIAL, ECONOMIC AND PHYSICAL TRANSFORMATION OF UNDERSERVED COMMUNITIES. 5 3 0 3 0 0 0 0 136159 136160 27 38 70965 64712 207151 200910 0 0 0 0 0 0 0 0 0 560319 533029 560319 533029 -353168 -332119 5869633 5574704 5996244 6033434 -126611 -458730 X ROLLAND CURTIS COMMERCIAL QALICB, INC. IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION FORMED TO SUPPORT ABODE COMMUNITES, A CALIFORNIA NONPROFIT CORPORATION WHOSE MISSION IT IS TO CREATE SERVICE-ENHANCED AFFORDABLE HOUSING AND SOCIALLY-BENEFICIAL COMMUNITY FACILITIES THAT PROMOTE SOCIAL, ECONOMIC AND PHYSICAL TRANSFORMATION OF UNDERSERVED COMMUNITIES. 0 0 517408 200872 TO FURTHER ITS MISSION AND INCREASE ITS CAPACITY TO PROVIDE SERVICES TO LOW-INCOME FAMILIES, THE ORGANIZATION GROUND LEASES A PORTION OF THAT CERTAIN TRACT OF LAND LOCATED AT 1060 EXPOSITION BLVD., LOS ANGELES, CA, WHICH IS IN A CENSUS TRACT THAT THE ORGANIZATION HAS FOUND TO BE CHARACTERIZED BY ECONOMIC DISTRESS AND INADEQUATE ACCESS TO CAPITAL. IN ORDER TO HAVE A CATALYTIC EFFECT ON ECONOMIC DEVELOPMENT WITHIN THE PROPERTY AREA AND SURROUNDING LOW-INCOME COMMUNITIES, THE PROPERTY HAS BEEN DEVELOPED FOR USE (I) AS A HEALTH CENTER, WHICH PROVIDES QUALITY AND ACCESSIBLE PATIENT-CENTERED COMPREHENSIVE HEALTH SERVICES FOR LOW-INCOME INDIVIDUALS AND FAMILIES AND (II) AS COMMUNITY-MINDED COMMERCIAL RETAIL SPACE TO PROVIDE VALUABLE RESOURCES FOR FAMILIES RESIDING NEAR THE PROPERTY. 517408 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 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 0 0 0 1 0 0 0 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 0 0 0 CA X RICK SAPERSTEIN EVP CFO 2136292702 1149 S HILL ST 700 LOS ANGELES CA 90015 RONNE THIELEN CHAIR 0.20 0.80 X X 0 0 0 KENNETH KRUG DIRECTOR 0.20 X 0 0 0 ROBIN HUGHES SECRETARY 0.20 X X 0 0 0 HOLLY BENSON PRESIDENT 0.40 42.60 X X 0 361409 26154 RICK SAPERSTEIN TREASURER 0.40 42.60 X X 0 260868 25774 0 622277 51928 0 0 1 0 0 NET RENTAL REVENUE 531110 136160 136160 136160 38 38 64712 64712 64712 200910 200872 0 38 38672 38672 15621 15621 148631 148631 254649 254649 BAD DEBT EXPENSE 63536 63536 LENDER COSTS 11920 11920 533029 517408 15621 0 187179 65524 64489 65669 59940 72661 6359469 1088469 5414649 5271000 143376 99850 5869633 5574704 11795 16699 12450 12450 17450 17450 5888658 5900370 65891 86465 5996244 6033434 X -126611 -458730 -126611 -458730 5869633 5574704 -332119 0 X 0 1 X 1 0 X X 1 ABODE COMMUNITIES 956377511 10 1 0 517408 1 0 517408 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 95000 95000 3841874 419271 3422603 2416624 664081 1752543 5971 5117 854 5271000 DUE TO AFFILIATES 86465 86465 X 200910 0 200910 0 200910 533029 0 533029 0 533029 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 REVENUE FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. 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 DECEMBER 31, 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. 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 2020 REMAIN OPEN. 0 0 0 0 0 0 0 0 0 HOLLY BENSON PRESIDENT 0 361409 0 0 0 0 0 11205 0 14949 0 387563 0 0 RICK SAPERSTEIN TREASURER 0 260868 0 0 0 0 0 10799 0 14975 0 286642 0 0 PART I, LINE 3 ON AN ANNUAL BASIS, COMPENSATION RECOMMENDATIONS FOR THE PRESIDENT AND EXECUTIVE VICE PRESIDENTS ARE MADE TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF ABODE COMMUNITIES, A RELATED NONPROFIT ORGANIZATION, AND AS NECESSARY OR REQUESTED, COMPARABLE COMPENSATION DATA FROM A RELIABLE THIRD-PARTY SOURCE IS OBTAINED. MINUTES OF THE MEETING ARE KEPT, TO THE EXTENT ALLOWED FOR BY CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, LETTER EXPLAINING CONFLICT OF INTEREST POLICY AND ACKNOWLEDGING CONTINUING COMPLIANCE IS SENT TO KEY EMPLOYEES AND BOARD MEMBERS. THIS LETTER IS REQUIRED TO BE SIGNED AND RETURNED TO EVP/CFO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION IN PERSON OR VIA EMAIL UPON REQUEST. ABODE COMMUNITIES 1149 S HILL STREET SUITE 700 LOS ANGELES CA 90015 956377511 AFFORD HSNG CA 501(C)(3) LINE 7 N/A 0 ABODE COMMUNITY HOUSING 1149 S HILL STREET SUITE 700 LOS ANGELES CA 90015 954586463 AFFORD HSNG CA 501(C)(3) LINE 10 N/A 0 DESIGN CENTER HOUSING SERVICES 1149 S HILL STREET SUITE 700 LOS ANGELES CA 90015 954659701 AFFORD HSNG CA 501(C)(3) LINE 12A, I N/A 0 FIGUEROA CORRIDOR LAND COMPANY 1149 S HILL STREET SUITE 700 LOS ANGELES CA 90015 205571194 AFFORD HSNG CA 501(C)(3) PF N/A 0 L'CANON CLUB APARTMENTS 1149 S HILL STREET SUITE 700 LOS ANGELES CA 90015 311675721 AFFORD HSNG CA 501(C)(3) LINE 10 N/A 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0