2025-01-15T14:58:22-06:00 2023-06-30 221478099 COHNREZNICK LLP 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2022-07-01 363700890 BETHEL PACE CENTRE BETH 7734737870 1140 N LAMON AVE CHICAGO IL 60651 SHARIF WALKER PRESIDENT & CEO 7734737870 2024-12-10 1 0 NATHANIEL R ADAMS P01282482 3125085900 2024-12-06 2022 2024-10-15 13:58:12Z SHARIF WALKER 1140 N LAMON AVE CHICAGO IL 60651 456523 0 X X 1992 IL LOW INCOME HOUSING 13 13 0 13 0 0 0 0 447572 454696 26 27 0 1800 447598 456523 0 0 0 0 143224 146687 0 0 0 349660 336053 492884 482740 -45286 -26217 1182928 1169704 1588941 1601934 -406013 -432230 THE ORGANIZATION OWNS AND OPERATES A 22 UNIT FACILITY FOR THE ELDERLY AND DISABLED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. 0 0 412247 456696 THE ORGANIZATION OWNS AND OPERATES A 22 UNIT FACILITY FOR THE ELDERLY AND DISABLED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. 412247 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 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 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X SHARIF WALKER 7734737870 1140 N LAMON AVE CHICAGO IL 60651 X SHARIF WALKER PRESIDENT / CEO 1.00 40.00 X X 0 0 0 ANDREW CURTIS CHAIRMAN 1.00 40.00 X X 0 0 0 VAUNA HERNANDEZ VICE-CHAIR 1.00 40.00 X X 0 0 0 LOLITA SLAUGHTER FINANCE DIRECTOR 1.00 40.00 X X 0 0 0 MAHOMED OUEDRAGO TREASURER 1.00 40.00 X X 0 0 0 JEREMY EDELSON SECRETARY 1.00 40.00 X X 0 0 0 FRANK BASS DIRECTOR 1.00 4.00 X 0 0 0 SHERMAN HICKS DIRECTOR 1.00 4.00 X 0 0 0 DEBORAH WILLIAMS DIRECTOR 1.00 4.00 X 0 0 0 CLARIBEL RODRIGUEZ DIRECTOR 1.00 4.00 X 0 0 0 GLORIA GREEN DIRECTOR 1.00 4.00 X 0 0 0 VIRGINIA SPITZER DIRECTOR 1.00 4.00 X 0 0 0 JOE YOUNG DIRECTOR 1.00 4.00 X 0 0 0 0 0 0 0 0 0 0 0 TENANT ASSISTANCE PAYM 531110 384397 384397 RENT REVENUE 531110 68365 68365 LAUNDRY AND VENDING 531110 1934 1934 454696 27 27 1800 1800 1800 456523 456496 0 27 118474 99184 19290 17414 17414 10799 10799 21874 21874 822 822 19390 19390 700 700 20675 18429 2246 74374 74374 22425 22425 SECURITY SERVICES 85570 85570 UTILITIES 35569 35569 REPAIRS AND MAINTENANCE 32776 25909 6867 MISCELLANEOUS ADMINISTR 13789 13789 8089 8089 482740 412247 70493 0 1523 8515 100562 13147 19730 18062 2648948 1965517 711052 683431 350061 446549 1182928 1169704 42225 51877 1538300 1538300 8416 11757 1588941 1601934 X -406013 -432230 -406013 -432230 1182928 1169704 -26217 0 X 0 1 X 1 1 1 X 398313 425280 436325 447572 454696 2162186 398313 425280 436325 447572 454696 2162186 0 0 0 2162186 1016 774 99 26 27 1942 1016 774 99 26 27 1942 1800 1800 399329 426054 436424 447598 456523 2165928 0.99830 0.99880 0.00090 0.00120 X 25000 25000 1552736 1132203 420533 814475 602960 211515 15037 13903 1134 241700 216451 25249 683431 TENANT SECURITY DEPOSITS 5554 REPLACEMENT RESERVES 432882 RESIDUAL RECEIPTS RESERVE 6148 OTHER RESERVE 1965 446549 SECURITY DEPOSITS 5542 ACCRUED PROPERTY MANAGEMENT FEES 4599 MISCELLANEOUS LIABILITIES 661 PREPAID RENT 955 11757 X 456523 0 456523 0 456523 482740 0 482740 0 482740 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION HAS CONTRACTED WITH A MANAGEMENT AGENT, EVERGREEN REAL ESTATE SERVICES, LLC, PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. UNDER THE MANAGEMENT AGREEMENT, FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, MANAGEMENT FEES WERE $21,874 AND $13,901, RESPECTIVELY. EFFECTIVE SEPTEMBER 1, 2018, MANAGEMENT FEES ARE BASED ON 4.00 PERCENT OF MONTHLY RENTAL COLLECTIONS WITH NO CAP. AS OF JUNE 30, 2023 AND 2022, PROPERTY MANAGEMENT FEES PAYABLE WERE $4,599 AND $241, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE AFTER IT IS FILED. THE FINANCE COMMITTEE SERVES AS AUDIT COMMITTEE AND HAS BEEN DESIGNATED AUTHORITY TO APPROVE AUDITS AND TAX RETURNS. THE BOARD TREASURER OR CHAIR SIGNS THE FORM. COPIES WILL THEN BE PROVIDED TO ALL MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS REVIEWED AND UPDATED ANNUALLY DURING A BOARD MEETING. COMPLIANCE IS MONITORED AND ENFORCED REGULARLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES DOCUMENTS TO THE PUBLIC UPON REQUEST. BETHEL NEW LIFE INC 4950 WEST THOMAS STREET CHICAGO IL 60651 363013241 TO ENABLE A HEALTHIER AND SUSTAINABLE COMMUNITY OF THE WEST SIDE OF CHICAGO IL 501(C)(3) LINE 7 N/A 0 BETH-ANNE EXTENDED LIVING 4950 WEST THOMAS STREET CHICAGO IL 60651 364372019 HOUSING IL 501(C)(3) LINE 11 BETHEL NEW LIFE INC 1 BETH-ANNE RESIDENCIES 4950 WEST THOMAS STREET CHICAGO IL 60651 363999938 HOUSING IL 501(C)(3) LINE 11 BETHEL NEW LIFE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 BETHEL NEW LIFE INC P 22425 CASH