2024-11-15T09:37:12-06:00 2023-12-31 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2023-01-01 237099111 FIRST CHURCH IN MALDEN HOMES INC FIRS 7813214545 195 PLEASANT STREET MALDEN MA 02148 STEPHEN FRAZIER EXECUTIVE DIRECTOR 7813214545 2024-11-15 1 1 JOLANTA TUCK CPA P01340068 7813803520 2024-11-14 2023 2024-10-15 13:58:12Z THE HERITAGE APARTMENTS STEPHEN FRAZIER 195 PLEASANT STREET MALDEN MA 02148 1181359 0 X WWW.HERITAGE195.COM X 1968 MA TO ACQUIRE, CONSTRUCT AND OPERATE AN INTEREST IN AFFORDABLE HOUSING IN MALDEN, MASSACHUSETTS. 7 7 6 11 0 0 5799 29550 1355384 977924 40605 85955 35 34 1401823 1093463 17140 0 0 0 40000 48322 0 0 0 23036 50300 80176 98622 1321647 994841 15071972 16073160 20869 19455 15051103 16053705 THE ORGANIZATION'S MISSION IS TO PROVIDE FINANCING FOR LOW TO MODERN INCOME HOUSING PROJECTS, AS WELL AS TO OWN, OPERATE, AND DEVELOP A LOW TO MODERATE INCOME HOUSING PROJECT. 0 0 40804 977958 OWN, OPERATE AND DEVELOP A LOW TO MODERATE INCOME HOUSING PROJECT. 40804 1 1 0 0 0 0 0 0 0 0 0 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 1 0 0 0 0 0 1 1 0 0 0 1 0 0 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 MA X STEVE FRAZIER 7813214545 195 PLEASANT STREET MALDEN MA 02148 X PAUL FRAZIER PRESIDENT 1.00 X X 0 0 0 PETER DEMIRDJIAN VICE PRESIDENT 1.00 X X 0 0 0 WILLIAM CONLEY TREASURER 1.00 X X 0 0 0 JEFFREY PARKS SECRETARY 1.00 X X 0 0 0 PATRICIA DEMIRDJIAN DIRECTOR 1.00 X 0 0 0 JAMES C LONG DIRECTOR 1.00 X 0 0 0 JOHN OTERI DIRECTOR 1.00 X 0 0 0 STEPHEN FRAZIER EXECUTIVE DIRECTOR 10.00 40.00 X 212890 0 46604 MARIA FRAZIER SERVICE COORDINATOR 1.00 40.00 X 109194 0 10919 PAUL FRAZIER SERVICE MANAGER 1.00 40.00 X 105783 0 31763 427867 0 89286 3 0 1 0 0 29550 29550 TAX CREDIT COMPLIANCE 531390 419555 419555 INCENTIVE MANAGEMENT F 531390 419555 419555 PSP DISTRIBUTION INCOM 531390 134647 134647 INTEREST INCOME ON NOT 531390 4167 4167 977924 73851 73851 100000 87896 12104 12104 12104 34 34 34 1093463 977958 0 85955 48322 15750 32572 18100 18100 7146 7146 EQUITY IN LOSS OF INVES 25054 25054 98622 40804 57818 0 20583 11593 14921948 15486458 504167 129241 70742 200 200 15071972 16073160 14300 13200 6569 6255 20869 19455 X 15051103 16053705 15051103 16053705 15071972 16073160 994841 7761 0 X 0 1 X 1 0 X 7570 7660 5124 5799 29550 55703 7570 7660 5124 5799 29550 55703 55703 84738 50615 31176 40605 73851 280985 26 31 36 35 34 162 336850 6468361 0.16540 0.11850 X THE ORGANIZATION MEETS THE 10% FACTS AND CIRCUMSTANCES TEST DUE TO THE FOLLOWING FACTORS. 1). THE PUBLIC SUPPORT PERCENTAGE EXCEEDS 10%. 2). THE ORGANIZATION RECEIVES SUPPORT FROM PRIVATE CONTRIBUTIONS, GOVERNMENT GRANTS, AS WELL EARNINGS DERIVED FROM ACTIVITIES CARRYING OUT ITS MISSION OF AFFORDABLE HOUSING. 3). THE ORGANIZATION HAS BEEN IN EXISTENCE SINCE 1968 AND HAS CONTINUALLY OPERATED THE HERITAGE APARTMENTS, 176 RENTAL UNITS OF AFFORDABLE ELDERLY HOUSING AVAILABLE TO THE GENERAL PUBLIC AS WELL AS PROGRAMS & SERVICES FOR ITS RESIDENTS. 4). THE BOARD OF DIRECTORS REPRESENTS A BROAD RANGE OF INDIVIDUALS INCLUDING PRIVATE AND PUBLIC SECTOR EMPLOYEES, BUSINESS OWNERS AND RETIREES. 5). FOLLOWING THE RESTRUCTURING REQUIRED TO RENOVATE AND REFINANCE THE BUILDING IN 2012, UTILIZING THE LIHTC PROGRAM, CAPITAL THE ORGANIZATION PROVIDED AS PART OF ITS MISSION HAS BEEN RETURNED TO THE ORGANIZATION SOONER THAN ANTICIPATED. THE FUNDS HAVE BEEN DEPOSITED INTO INSURED, INTEREST BEARING ACCOUNTS UNTIL BEING REDEPLOYED. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 26. 2020 AMOUNT: $ 31. 2021 AMOUNT: $ 36. 2022 AMOUNT: $ 35. 2023 AMOUNT: $ 34. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATES 6255 6255 X 1101224 7761 7761 1093463 0 1093463 98622 0 98622 0 98622 PART X, LINE 2: GENERALLY, THE CORPORATION'S INFORMATION RETURNS REMAIN OPEN FOR POSSIBLE EXAMINATION FOR THREE YEARS AFTER THE FILING DATE. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2020 REMAIN OPEN. AS OF DECEMBER 31, 2023, THE CORPORATION BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITH ANY OF ITS OPEN TAX YEARS. X 0 0 0 0 0 0 0 0 0 STEPHEN FRAZIER EXECUTIVE DIRECTOR 212890 0 0 0 0 0 21289 0 25315 0 259494 0 0 0 MARIA FRAZIER FAMILY MEMBER OF EXECUTIVE DIRECTOR 109194 COMPENSATION PAID TO FAMILY MEMBER 0 FORM 990, PART VI, SECTION A, LINE 2 EXECUTIVE DIRECTOR STEPHEN FRAZIER AND PRESIDENT PAUL FRAZIER HAVE A FAMILIAL RELATIONSHIP. VICE PRESIDENT PETER DEMIRDJIAN AND DIRECTOR PATRICIA DEMIRDJIAN HAVE A FAMILIAL RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD AND THE EXECUTIVE DIRECTOR REVIEW FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE DIRECTOR'S SALARY IS DETERMINED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THE INFORMATION AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A COLUMN D THE CORPORATION ACTS AS THE EMPLOYER OF RECORD FOR SIX STAFF MEMBERS WHO WORK ON HERITAGE ACTIVITIES. THE CORPORATION RECEIVED FUNDS IN THE AMOUNT OF $589,658 FROM HERITAGE AND PAID PAYROLL COSTS IN THE AMOUNT OF $601,546 DURING THE YEAR ENDED DECEMBER 31, 2023. 1) STEPHEN FRAZIER - THE ORGANIZATION ISSUED THE W-2, BUT WAS PARTIALLY REIMBURSED BY HERITAGE 195 PLEASANT STREET LLC, A RELATED PARTY, FOR $212,890 OF COMPENSATION FOR SERVICES PROVIDED TO HERITAGE STREET. 2) MARIA FRAZIER - THE ORGANIZATION ISSUED THE W-2, BUT WAS FULLY REIMBURSED BY HERITAGE 195 PLEASANT STREET LLC, A RELATED PARTY, FOR THE FULL AMOUNT OF COMPENSATION ON MARIA'S FORM W-2. FIRST CHURCH MALDEN HOMES II LLC 195 PLEASANT STREET MALDEN MA 02148 273662625 ACQUIRE, OWN, RENOVATE, CONSTRUCT, DEVELOP, OPERATE, LEASE, SELL REAL ESTATE MA 0 0 FIRST CHURCH IN MALDEN HOMES INC FIRST CHURCH PETER SANBORN LLC 195 PLEASANT STREET MALDEN MA 02148 832192929 ACQUIRE, OWN, RENOVATE, CONSTRUCT, DEVELOP, OPERATE, LEASE, SELL REAL ESTATE MA 86330 3327469 FIRST CHURCH IN MALDEN HOMES INC HERITAGE 195 PLEASANT STREET LLC 195 PLEASANT STREET MALDEN MA 02148 203695041 INVESTMENT, OWNERSHIP, DEVELOPMENT OF ELDERLY MIXED INCOME HOUSING MA FIRST CHURCH MALDEN HOMES II LLC RELATED 103 488777 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0