2024-08-15T12:46:12-05:00 2023-09-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-10-01 300185120 SPRINGVALE TERRACE INC C/O SEABURY RESOURCES FOR AGING SPRI 2024146310 4201 BUTTERWORTH PLACE NW WASHINGTON DC 20016 DAWN QUATTLEBAUM CHIEF EXECUTIVE OFFICER 2024146310 2024-08-15 1 1 JOSEPH CONNOLLY P01959750 9143818900 2024-08-14 2022 2024-08-08 14:25:15Z MARTI BROWN BAILEY 4201 BUTTERWORTH PLACE NW WASHINGTON DC 20016 2313911 0 X WWW.SEABURYRESOURCES.ORG/SPRINGVALETERRACE X 2003 MD TO PROVIDE AFFORDABLE HOUSING AND RELATED RESIDENT SERVICES TO THE ELDERLY UNDER SECTION 232 OF THE NATIONAL HOUSING ACT. 20 20 0 25 0 0 191431 144379 2767104 1842176 214095 16523 53770 88812 3226400 2091890 0 0 0 0 0 0 0 0 0 4473470 3762373 4473470 3762373 -1247070 -1670483 4753837 4319719 8924635 10161000 -4170798 -5841281 TO PROVIDE AFFORDABLE HOUSING AND RELATED RESIDENT SERVICES TO THE ELDERLY UNDER SECTION 232 OF THE NATIONAL HOUSING ACT. 0 0 3425196 0 1842176 SPRINGVALE TERRACE, INC. WAS ORGANIZED ON APRIL 23, 2003 UNDER THE PROVISIONS OF THE STATE OF MARYLAND FOR THE PURPOSE OF PURCHASING AND OPERATING HOUSING AND RELATED FACILITIES FOR THE ELDERLY. THE ORGANIZATION WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 232 OF THE NATIONAL AFFORDABLE HOUSING ACT AND CONSISTS OF 146 UNITS. IN ADDITION TO THE RENTAL HOUSING OPERATIONS, THE ENTITY OPERATES CARE SERVICES PROGRAMS FOR AN ADDITIONAL FEE THAT INCLUDE CONGREGATE HOUSING SERVICES CERTIFIED BY THE MARYLAND DEPARTMENT OF AGING AND ASSISTED LIVING SERVICES LICENSED BY THE MARYLAND DEPARTMENT OF HEALTH AND MENTAL HYGIENE. 3425196 1 1 0 0 0 0 0 0 1 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 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 1 0 0 1 1 1 1 0 0 0 0 1 1 1 1 1 0 0 0 X RESIDENTIAL ONE LLC 3019532366 8975 GUILFORD ROAD SUITE 100 COLUMBIA MD 21046 MARTI BAILEY PRESIDENT 0.10 1.10 X X 0 0 0 LECIA IMBERY SECRETARY 0.10 1.10 X X 0 0 0 CRAIG MCCULLOUGH TREASURER 0.10 1.10 X X 0 0 0 MARCUS BRAXTON DIRECTOR 0.10 1.10 X 0 0 0 MICHAEL COLLINS DIRECTOR 0.10 1.10 X 0 0 0 RASHEEN CARBIN DIRECTOR (THRU 06/23) 0.10 1.10 X 0 0 0 VALERIE COOK DIRECTOR (THRU 06/23) 0.10 1.10 X 0 0 0 CHRIS GARDNER DIRECTOR 0.10 1.10 X 0 0 0 WAHEED HASSAN DIRECTOR 0.10 1.10 X 0 0 0 JOSEPH HOWELL DIRECTOR 0.10 1.10 X 0 0 0 NIKHIL KUMTHA DIRECTOR 0.10 1.10 X 0 0 0 ROBIN LUMSDAINE DIRECTOR (THRU 06/23) 0.10 1.10 X 0 0 0 KIMBERLY MIKEC DIRECTOR 0.10 1.10 X 0 0 0 MONTE MONASH DIRECTOR 0.10 1.10 X 0 0 0 NICK NICHOLSON DIRECTOR 0.10 1.10 X 0 0 0 MICHELLE RHODD DIRECTOR 0.10 1.10 X 0 0 0 DIANA A SALADINI MA DIRECTOR 0.10 1.10 X 0 0 0 DAVID SHEPARD DIRECTOR 0.10 1.10 X 0 0 0 ELISSA SILVERMAN DIRECTOR 0.10 1.10 X 0 0 0 THOMAS SENKER DIRECTOR (THRU 06/23) 0.10 1.10 X 0 0 0 SUSAN SPURLARK ESQ DIRECTOR 0.10 1.10 X 0 0 0 SOHAER RIZVI SYED DIRECTOR 0.10 1.10 X 0 0 0 SUZANNE K WELCH ESQ DIRECTOR 0.10 1.10 X 0 0 0 KEVIN WHITLEY DIRECTOR 0.10 1.10 X 0 0 0 DAWN QUATTLEBAUM CEO 5.00 35.00 X 0 161824 25125 KATRINA LEWIS COO/CAO 5.00 35.00 X 0 118617 10710 BELINDA DAVIS MANAGING DIRECTOR OF FINANCE 5.00 35.00 X 0 127276 13234 0 407717 49069 0 0 1 0 0 144379 144379 ELDERLY/CONGREGATE SVC 531110 999470 999470 RENTAL INCOME 531110 842706 842706 1842176 688 688 5118 0 5118 5118 5118 237856 222021 15835 15835 15835 OTHER TENANT CHARGES 812300 66131 66131 LAUNDRY AND VENDING 812300 17563 17563 83694 2091890 1842176 0 105335 123098 123098 5670 5670 30197 30197 126211 126211 9463 9463 42272 42272 299067 299067 65924 65924 304027 304027 1705 1705 ALLOCATED COMPENSATION 1630140 1630140 MEAL COSTS 726169 726169 REPAIRS AND MAINTENANCE 391095 391095 RESIDENT ACTIVITIES 7069 7069 266 266 3762373 3425196 337177 0 119041 62914 310612 357181 76112 25588 13188 20526 14398178 10597133 4102538 3801045 132346 52465 4753837 4319719 646243 430913 71134 32225 101654 48514 6278117 6226867 1827487 3422481 8924635 10161000 X -4170798 -5841281 -4170798 -5841281 4753837 4319719 -1670483 0 X X 0 1 X 1 1 1 X 55693 88130 296338 191431 144379 775971 3507148 2969816 2673115 2767104 1842176 13759359 3562841 3057946 2969453 2958535 1986555 14535330 0 0 0 14535330 55 6516 2123 9566 5806 24066 55 6516 2123 9566 5806 24066 35274 31171 349636 44248 83694 544023 3598170 3095633 3321212 3012349 2076055 15103419 0.96240 0.97040 0.00160 0.00110 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING - 2018 AMOUNT: $ 35,274. 2019 AMOUNT: $ 31,171. 2020 AMOUNT: $ 27,504. 2021 AMOUNT: $ 29,607. 2022 AMOUNT: $ 17,563. OTHER TENANT CHARGES - 2020 AMOUNT: $ 89,265. 2021 AMOUNT: $ 14,641. 2022 AMOUNT: $ 66,131. FORGIVENESS OF DEBT - 2020 AMOUNT: $ 232,867. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 175000 175000 12515972 9001885 3514087 1707206 1595248 111958 3801045 DUE TO SEABURY RESOURCES FOR AGING 3422481 3422481 X 2091890 0 2091890 0 2091890 3762373 0 3762373 0 3762373 PART IV, LINE 2B: AS LESSOR OF RESIDENTIAL RENTAL PROPERTY, THE ORGANIZATION HOLDS TENANT SECURITY DEPOSITS ON BEHALF OF RESIDENTS IN A SEPARATE ESCROW ACCOUNT. PART X, LINE 2: THE ENTITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENTITY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO SEPTEMBER 30, 2020. 0 0 0 0 0 0 0 0 0 DAWN QUATTLEBAUM CEO 0 159824 0 2000 0 0 0 12746 0 12379 0 186949 0 0 PART I, LINE 3 THE CEO OF THE ORGANIZATION IS COMPENSATED BY A RELATED PARTY, SEABURY RESOURCES FOR AGING, THE FOLLOWING IS THEIR COMPENSATION POLICY. IT IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AND APPROVED BY THEM. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION IS MANAGED BY RESIDENTIAL ONE, LLC PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. THE FEE IS A FLAT MONTHLY FEE PER THE AGREEMENT WITH THE MANAGEMENT COMPANY. FOR THE YEAR ENDED SEPTEMBER 30, 2023, MANAGEMENT FEES WERE $123,098. NO INDIVIDUALS LISTED ON FORM 990, PART VII RECEIVED COMPENSATION FROM THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S SOLE MEMBER IS SEABURY RESOURCES FOR AGING. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S SOLE MEMBER HAS THE AUTHORITY TO ELECT MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION'S BYLAWS MAY BE ALTERED, AMENDED OR REPEALED AND NEW BYLAWS MAY BE ADOPTED ONLY BY ACTION OF SEABURY RESOURCES FOR AGING. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD ACTED AS A WHOLE ON ALL MATTERS AND NO COMMITTEE WAS APPOINTED DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE FORM 990 AFTER FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO BOARD MEMBERS, STAFF MEMBERS, AND VOLUNTEERS OF SEABURY RESOURCES FOR AGING AND ITS SUBSIDIARIES ("SEABURY"). EVERY OFFICER AND STAFF MEMBER IS EXPECTED TO AVOID SITUATIONS OR ACTIVITIES THAT COULD INTERFERE WITH HIS OR HER UNENCUMBERED EXERCISE OF JUDGMENT IN THE BEST INTERESTS OF SEABURY. IT IS THE RESPONSIBILITY OF EACH BOARD MEMBER, STAFF, CONTRACTOR OR VOLUNTEER TO DISCLOSE ANYTHING THAT MAY HAVE THE POTENTIAL FOR CONFLICT OF INTEREST. DISCLOSURE OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST SHOULD BE MADE TO THE CHIEF EXECUTIVE DIRECTOR OF SEABURY RESOURCES FOR AGING, WHO SHALL REPORT THE INFORMATION TO THE BOARD OF DIRECTORS. IF A POTENTIAL CONFLICT IS DISCLOSED, THE INDIVIDUAL(S) SHALL REFRAIN FROM PARTICIPATION IN THE IDENTIFIED ACTIVITY UNTIL THE DISCLOSURE IS REVIEWED AND THE MATTER IS RESOLVED. ALL DISCLOSURES SHALL BE DOCUMENTED ON A DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST FORM, AND COPIES OF THE DOCUMENTATION WILL REMAIN IN SEABURY'S EMPLOYMENT RECORDS AND BOARD FILES. THIS SEABURY POLICY STATEMENT AND RELATED DISCLOSURE FORM WILL BE DISTRIBUTED TO BOARD MEMBERS AND STAFF MEMBERS OF SEABURY ON AN ANNUAL BASIS. BOARD AND STAFF MEMBERS ARE REQUESTED TO RETURN A SIGNED DISCLOSURE FORM TO THE CHIEF EXECUTIVE DIRECTOR AND KEEP A SECOND COPY FOR THEIR RECORDS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND GOVERNING DOCUMENTS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SEABURY RESOURCES FOR AGING 4201 BUTTERWORTH PLACE NW WASHINGTON DC 20016 530204693 PROVIDING AFFORDABLE HOUSING OPTIONS FOR SENIORS IN THE GREATER DC AREA DC 501(C)(3) LINE 7 N/A 0 EPISCOPAL CHURCH HOMEFRIENDSHIPINC 4201 BUTTERWORTH PLACE NW WASHINGTON DC 20016 520907224 PROVIDING AFFORDABLE HOUSING HOUSING AND RELATED SERVICES DC 501(C)(3) LINE 10 SEABURY RESOURCES FOR AGING 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0