2025-05-15T13:35:11-04:00 2024-06-30 581484212 HOWARD MOORE & MCDUFFIE PC PO BOX 4547 MACON GA 31208 990 2023-07-01 582273893 NEWTOWN MACON INC NEWT 4787229909 555 POPLAR STREET MACON GA 312013320 JAMES FRITZE CFO 4787229909 2025-05-14 true true GEORGIA G SLAGLE P00083775 4787425317 2025-05-15 2023 2025-03-06 01:10:19Z JAMES FRITZE 555 POPLAR STREET MACON GA 31201 4836648 false X WWW.NEWTOWNMACON.COM X 1998 GA INVEST TIME, RESOURCES, AND MONEY IN LOCAL PEOPLE AND BUSINESSES TO REVITALIZE DOWNTOWN MACON. 28 20 15 185 -398953 2422627 1417940 609546 438277 549281 1247030 -242834 -368014 3338620 2735233 56290 192021 0 1128365 1164236 0 184796 1728446 2439907 2913101 3796164 425519 -1060931 36186795 43633726 14939578 22109108 21247217 21524618 X INVEST TIME, RESOURCES, AND MONEY IN LOCAL PEOPLE AND BUSINESSES TO REVITALIZE DOWNTOWN MACON. false false 1577700 1106408 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI): NEWTOWN MACON (THROUGH ITS SUBSIDIARY NEWTOWN LOANS, LLC) HAS BEEN DESIGNATED BY THE U.S. DEPARTMENT OF THE TREASURY AS A CDFI. THE CDFI FACILITATES THE LARGER STRATEGY OF INCREASING DOWNTOWN RESIDENTS BY FUNDING LOFT DEVELOPMENT THROUGH THE REAL ESTATE LOAN FUND AND GROWING JOBS BY PROVIDING CAPITAL AND MENTORING TO ENTREPRENEURS. THE REAL ESTATE LOAN FUND WAS ESTABLISHED IN PARTNERSHIP WITH THE MACON- BIBB URBAN DEVELOPMENT AUTHORITY AND MACON-BIBB COUNTY. WE USE BOND FUNDS IN VIABLE RESIDENTIAL PROJECTS TO CLOSE THE GAP BETWEEN SOURCES OF FUNDS (INCLUDING OWNER EQUITY, TRADITIONAL FINANCING AND HISTORIC TAX CREDITS) AND THE ACTUAL COST TO REHABILITATE OR BUILD REAL ESTATE DEVELOPMENTS DOWNTOWN. AT THE END OF THE FISCAL YEAR, THE CFI HAD 13.7 MILLION OF LOANS IN SERVICE ON PROJECTS. IN TOTAL, CDFI'S REAL ESTATE LOANS PRODUCED PROJECTS WITH MARKET VALUES OF 147 MILLION, EXPECTED TO PRODUCE 378 RESIDENTIAL LOFTS AND REHABILITATE OVER 926,658 SQUARE FEET OF UNDERUTILIZED BUILDINGS. THE CDFI ALSO PROVIDES SUPPORT FOR ENTREPRENEURS. WE OFFER A VARIETY OF SERVICES INCLUDING SHEPHERDING APPLICANTS THROUGH THE PERMIT PROCESS, ONE- ON-ONE MENTORSHIP COUNSELING, AND ACCESS TO CAPITAL THROUGH LOANS, EQUITY INVESTMENTS AND JOINT VENTURES. OUR STAFF SERVED OVER 600 INDIVIDUAL ENTREPRENEURS DURING THE YEAR THROUGH A COMPREHENSIVE SET OF INDIVIDUAL AND GROUP TRAINING PROGRAMS. IN TOTAL BY THE END OF THE FISCAL YEAR, THE CDFI HAD CLOSED 9 BUSINESS LOANS, FOR A TOTAL OF APPROXIMATELY 671,000. THESE SERVICES ATTRACT BUSINESSES TO DOWNTOWN, VERIFIED BY A TOTAL OF 7 NET NEW BUSINESSES OPENING IN DOWNTOWN MACON DURING THE FISCAL YEAR. 992389 192021 311214 CREATING A SENSE OF PLACE: A DESIRABLE NEIGHBORHOOD IS BOTH LIVABLE AND WALKABLE, SO NEWTOWN MACON IS PROMOTING THE DOWNTOWN LIFESTYLE AND PROVIDING RECREATIONAL ACTIVITIES. NEWTOWN PROMOTES A SENSE OF PLACE BY MANAGING FIRST FRIDAY EVENTS, BEAUTIFYING THE STREETS, PROMOTING DOWNTOWN EVENTS, AND PROMOTING THE DEVELOPMENT OF THE OCMULGEE HERITAGE TRAIL. NEWTOWN MACON ALSO PROMOTES DOWNTOWN LIVING THROUGH MARKETING AND BRANDING, AND BY HELPING PEOPLE FIND A PLACE TO LIVE THROUGH THE LOFT FINDER ONLINE SERVICE AT NEWTOWNMACON.COM/LOFT-FINDER. THROUGH THESE STRATEGIES, DOWNTOWN MACON IS ATTRACTING NEW RESIDENTS. WE ENDED THE YEAR AT OUR GOAL OF 92% OCCUPANCY WITHIN DOWNTOWN MACON'S LOFT RENTAL UNITS. 250271 75407 THE OCMULGEE HERITAGE TRAIL (OHT) OHT CONTINUES TO BE ONE OF OUR MAIN FOCUSES AS A PUBLIC/PRIVATE PARTNERSHIP. NEWTOWN MACON RUNS AN ADVISORY COMMITTEE TO PLAN AND MANAGE EXPANSION AND IMPROVEMENT OF THE TRAIL SYSTEM AND RAISE PRIVATE FUNDS TO ENABLE THESE IMPROVEMENTS THROUGH THE OHT CONSTRUCTION FUND. ONCE IMPROVEMENTS ARE COMPLETE, NEWTOWN TURNS THE IMPROVEMENTS OVER TO LOCAL GOVERNMENT TO RUN AS PUBLIC PARK SPACE IN PERPETUITY. THE COMMITTEE FINALIZED A NEW MASTER PLAN TO GUIDE THE NEXT TWENTY-FIVE YEARS OF TRAIL DEVELOPMENT. 355821 -175737 GROWING JOBS AND INCREASING RESIDENTS: ONE OF THE MOST TRANSFORMATIVE WAYS NEWTOWN MACON IS CHANGING DOWNTOWN IS BY TURNING VACANT, DILAPIDATED BUILDINGS INTO BEAUTIFUL, USEFUL SPACES. NEWTOWN IS GROWING JOBS AND INCREASING RESIDENTS BY PROTECTING ENDANGERED BUILDINGS THROUGH THE TRANSITIONAL PROPERTY FUND (TPF). THIS FUND ALLOWS A BUILDING OWNER TO DONATE OR PARTIALLY DONATE A BUILDING TO NEWTOWN, AND NEWTOWN MATCHES THE BUILDING TO CAPABLE DEVELOPERS. THE TPF HELD ONE PROPERTY DURING THE FISCAL YEAR FOR FUTURE DEVELOPMENT, WHICH IS A DEVELOPABLE RIVERFRONT LOT AT 167 RIVERSIDE DR. ONE PROPERTY PREVIOUSLY HELD BY THE TPF REMAINED IN THE DEVELOPMENT PROCESS DURING THE FISCAL YEAR: 442 SECOND STREET, WHICH IS UNDER CONSTRUCTION FOR LOFTS AND A RETAIL TENANT. THE TPF COMPLETED THE REHABILITATION OF ONE PREVIOUSLY ABANDONED BUILDING AND RETURNED THIS BUILDING TO SERVICE DURING THE YEAR: 536 THIRD ST., WHICH NOW CONTAINS 28 RENTAL LOFTS AND THREE STOREFRONTS. THE TPF CONTINUED TO INDEPENDENTLY OWN AND REHABILITATE 455 THIRD ST., A HISTORIC THEATRE. TWO PREVIOUSLY-REHABILITATED TPF PROJECTS REMAINED UNDER SHARED OWNERSHIP INCLUDING A BOUTIQUE HOTEL AT 350 SECOND ST. AND A MIXED-USE BUILDING AT 596 CHERRY ST. PREVIOUS TPF PROJECTS INCLUDE: 518-530 CHERRY ST. (TRAVIS JEAN), 552-580 CHERRY ST. (LAMAR LOFTS), 566 POPLAR ST., 546 POPLAR ST., 382 SECOND ST. (CAPITOL THEATRE), 555 POPLAR ST., 454 TERMINAL AVE., 360 SIXTH ST., RIVERSIDE DR. ASSEMBLAGE, 300 CHERRY ST. (SPORTS HALL),745 POPLAR ST. (SHRINE TEMPLE), 461 THIRD ST., AND 540 MARTIN LUTHER KING, JR. BLVD. (MERCER MUSIC AT CAPRICORN). 355821 -175737 3176181 true true false false false false true false false true true true true false true false true false false false false false false false false false false true true true false false false true false false true true true true false false true true false false false true 26 0 15 true true true false false false false false false false false false false false false false X 28 20 false false false false false false false true true false false true true true true true true true true false GA X JAMES FRITZE 4787229909 555 POPLAR STREET MACON GA 31201 JOSHUA M ROGERS PRESIDENT & 40.00 X 241518 0 14605 JAMES FRITZE CFO 40.00 X 135721 0 17693 VIRGIL ADAMS DIRECTOR 1.00 X 0 0 0 GARY BECHTEL DIRECTOR 1.00 X 0 0 0 EMBER BENTLEY DIRECTOR 1.00 X 0 0 0 LORI BREWER DIRECTOR 1.00 X 0 0 0 JIM DAWS DIRECTOR 1.00 X 0 0 0 R KRIS ELLIS DIRECTOR 1.00 X 0 0 0 DELVECCHIO FINLEY DIRECTOR 1.00 X 0 0 0 CARYN FREY DIRECTOR 1.00 X 0 0 0 DR R KIRBY GODSEY CHAIR EMERIT 1.00 X 0 0 0 CORRIE HALL DIRECTOR 1.00 X 0 0 0 PATRICK HARRIS DIRECTOR 1.00 X 0 0 0 ROBERT F HATCHER SECRETARY 5.00 X X 0 0 0 CURTIS HERTWIG DIRECTOR 1.00 X 0 0 0 KAREN LAMBERT VICE CHAIR 5.00 X X 0 0 0 BRUCE LEICHT TREASURER 5.00 X X 0 0 0 BLAKE LISENBY OF COUNSEL 5.00 X 0 0 0 LESTER MILLER DIRECTOR 1.00 X 0 0 0 EMILY MYERS DIRECTOR 1.00 X 0 0 0 BRYAN NICHOLS DIRECTOR 1.00 X 0 0 0 CHRISTINA O'BRIEN DIRECTOR 1.00 X 0 0 0 JACOB PATTON DIRECTOR 1.00 X 0 0 0 SCOTT SEIGEL DIRECTOR 1.00 X 0 0 0 CHRIS R SHERIDAN CHAIR OHT CO 5.00 X 0 0 0 RON SHIPMAN DIRECTOR 1.00 X 0 0 0 DAVID THOMPSON DIRECTOR 1.00 X 0 0 0 WILLIAM UNDERWOOD CHAIR 5.00 X X 0 0 0 JESSICA WALDEN DIRECTOR 1.00 X 0 0 0 THOMAS WICKER PAST CHAIR 1.00 X 0 0 0 TRAVIS WILLIAMS DIRECTOR 1.00 X 0 0 0 377239 32298 2 false true false BLOCK BY BLOCK PO BOX 643873 CINCINNATI OH 452643873 CONSTRUCTION 374785 AIR PLANNING LLC 2 MAIN STREET SALEM NH 03079 TRAVEL 110969 AMF COMPANIES 170 COLLEGE ST MACON GA 31201 CONSTRUCTION 102796 3 117500 96000 1204440 125000 1417940 PERFORMANCE CONTRACTS 541200 275167 275167 ORIGINATION FEE CDFI PROGRAMS 522292 104998 104998 INTEREST FROM CDFI PROGRAM 522292 43051 43051 TUITION ENTREPRENEUR EDUC. 611430 15061 15061 438277 1200349 1200349 425862 766458 -340596 -340596 1284 -341880 63480 1318158 1334957 63480 -16799 46681 63480 -16799 OTHER INCOME 900099 12856 12856 SPEARMAN LOFTS OPERATING, LLC 531120 -468 -468 NEWTOWN UBIT, LLC 531120 -39806 -39806 -27418 2735233 1703390 -398953 12856 X 140962 140962 51059 51059 406887 182204 143979 80704 581553 470767 46683 64103 39089 32069 1915 5105 68066 47672 11402 8992 68641 46087 12610 9944 16100 16100 43450 41114 2336 58445 58445 52284 52284 500369 445462 54907 90928 85427 5501 103696 69039 34607 50 71411 69697 1714 124870 113313 10378 1179 173239 172379 860 71779 53855 3205 14719 738351 738351 35565 35565 68492 57412 11080 PROVISION FOR LOAN LOSSES 150719 150719 OTHER PROGRAM EXPENSES 140209 140209 3796164 3176181 435187 184796 X 392266 425836 6150890 7472728 6024868 4592498 63150 93395 2365878 4414234 99413 89788 772345 369845 1803 11194 7802039 1191814 4938679 6610225 6097273 7548534 3499655 3509737 5775575 8494672 5000 1040 36186795 43633726 124651 671339 1227796 3507454 2141514 7008875 11445617 10920190 1250 14939578 22109108 X 4281193 4957397 16966024 16567221 21247217 21524618 36186795 43633726 X -1060931 1116252 222080 X false true X true false X 1362801 4728680 7805828 2422627 1417940 17737876 1362801 4728680 7805828 2422627 1417940 17737876 7562931 10174945 325124 341469 621722 1302598 1626211 4217124 8804 76663 64310 -51622 12856 111011 22066011 4611601 0.46110 0.47480 X PART II, LINE 10 111,011 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 2 1.00 2 1 false false 12097737 30993 1395554 709556 12814728 11386779 993026 738496 1020563 12097737 10019215 2826788 -970211 489013 11386779 5311602 3673969 1202585 168941 10019215 5405581 66568 -5958 154589 5311602 0.04940 0.12400 0.82660 false false 393271 110097 503368 6799947 1042254 5757693 231271 136759 94512 377550 12801 364749 6720322 BENEF INTEREST IN COMM FOUND 2549028 F INTEREST IN PARTNERSHIPS 960709 C 3509737 PROGRAM LOANS RECEIVABLE 8494672 C 8494672 DEFERRED REVENUE 1250 1250 4036739 1116252 113245 124293 1353790 2682949 52284 52284 2735233 3759338 113245 776913 890158 2869180 52284 874700 926984 3796164 SCHEDULE D, PAGE 1, PART II, LINE 9 THE ORGANIZATION INCLUDED RESTRICTED COVENANTS IN TWO CONTRACTS FOR THE SALE OF BUILDINGS DURING THE YEARS ENDED 6/30/14 AND 6/30/16. THIS CONDITION OF THE SALE IS MEANT TO ENSURE THAT THE EXTERIOR OF THE BUILDINGS ARE WELL MAINTAINED. THE ORGANIZATION HAS A WRITTEN POLICY FOR MONITORING THE COVENANTS, AND EMPLOYEES OF NEWTOWN MACON WORK CLOSELY WITH THE BUILDING OWNERS TO ENSURE THAT THE TERMS OF THE COVENANT ARE ADHERED TO. THE BUILDINGS ARE NEARBY TO THE NEWTOWN MACON OFFICE. BECAUSE THE COVENANTS HAVE NO MONETARY VALUE, NO VALUE IS RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. SCHEDULE D, PAGE 2, PART V, LINE 4 NEWTOWN MACON HELD TWO ENDOWMENTS DURING THE YEAR. THE FIRST ENDOWMENT REPRESENTS A DONOR-RESTRICTED FUND WHEREBY THE CORPUS IS PERMANENTLY RESTRICTED, AND EARNINGS ON THE INVESTED FUNDS ARE USED FOR THE MAINTENANCE OF THE OCMULGEE HERITAGE TRAIL. THE SECOND FUND INCLUDES DONOR-RESTRICTED CONTRIBUTIONS AND BOARD DESIGNATED FUNDS. THE FUND IS USED TO COLLATERALIZE A LINE OF CREDIT WHICH PROVIDES LOANS TO LOCAL BUSINESS OWNERS. THE BOARD OF DIRECTORS HAS ADOPTED AN INVESTMENT AND DISBURSEMENT POLICY FOR BOTH ENDOWMENT FUNDS. SCHEDULE D, PAGE 4, PART XI, LINE 2D RENTAL EXPENSES 766,459 CDFI PROGRAM EXPENSES -874,700 BOOK TO TAX DIFFERENCE IN PARTNERSHIP INCOME 232,465 INCREASE ATTRIBUTED TO NONCONTROLLING INTEREST 69 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSES 766,459 BOOK / TAX DEPRECIATION DIFFERENCE 10,454 SCHEDULE D, PAGE 4, PART XII, LINE 4B CDFI PROGRAM EXPENSES 874,700 true MACON POPS 540 MARTIN LUTHER KING JR BLVD MACON GA 31201 471312704 501C3 12500 GENERAL SUPPORT URBAN DEVELOPMENT AUTHORITY 200 CHERRY STREET STE 300 MACON GA 31201 GOV 115000 APPRAISAL LAND DEVELOPMENT 14 PROGRAM AWARDS 18 51059 SCHEDULE I, PAGE 4, PART IV NEWTOWN MACON, INC MAINTAINS RECORDS TO SUBSTANTIATE THE AMOUNT OF THE GRANTS OR ASSISTANCE THAT IT AWARDS TO ORGANIZATIONS AND INDIVIDUALS. THE POSSIBLE GRANTS ARE BROUGHT BEFORE THE BOARD AT BOARD MEETINGS AND THE BOARD MEMBERS VOTE ON WHETHER OR NOT TO AWARD THE GRANT AND DETERMINE THE GRANT AMOUNT BASED ON WHETHER THE GRANT SUPPORTS NEWTOWN MACON'S MISSIONS. NEWTOWN MACON REQUIRES PROOF FROM THE ENTITY RECEIVING THE GRANT THAT THE GRANT FUNDS WERE EXPENDED APPROPRIATELY. X true true X X X false false false false false false false false false JOSHUA M ROGERS PRESIDENT & CEO 216518 25000 14605 256123 JAMES FRITZE CFO 135721 8091 9602 153414 ROBERT F HATCHER ROBERT F HATCHER DIRECTOR CONSTRUCTION NEEL'S LOFTS X 1970000 1812400 false true true THE CORPORATION OF MERCER UNIVERSITY THE CORPORATION OF MERCER UNIVERSITY SUBSTANTIAL DONOR CONSTRUCTION OF NEEL'S LOFTS X 1970000 1812400 false true true PEYTON ANDERSON FOUNDATION VENTURES SUBSTANTIAL DONOR CONSTRUCTION AT 544 MULBERRY STREET X 1140327 1140327 false true true DAVID THOMPSON DIRECTOR CONSTRUCTION AT 664 SECOND ST. X 1142971 1069252 false true true ANISSA JONES DIRECTOR CONSTRUCTION AT 415 CHERRY ST. X 775014 756254 false true true PEYTON ANDERSON FOUNDATION VENTURES SUBSTANTIAL DONOR CONSTRUCTION AT 455 THIRD STREET X 545202 554727 false true true KRIS ELLIS DIRECTOR CONSTRUCTION AT 468 SECOND ST. X 453000 424683 false true true RYAN GRIFFIN RYAN GRIFFIN DIRECTOR CONSTRUCTION AT 477 HAWTHORNE X 213858 213858 false true true DAVID THOMPSON DIRECTOR CONSTRUCTION AT 524 MULBERRY ST. X 212000 137787 false true true JAMES L FRITZE JR JAMES L FRITZE JR FAMILY OF OFFICER BUSINESS START UP X 99500 89788 false true true 8011476 MARK THOMPSON FAMILY 28097 EMPLOYMENT false BRYAN NICHOLS DIRECTOR 274523 REIMBURSEMENTS false SCHEDULE L, PART V PART IV REIMBURSEMENTS TO BRYAN NICHOLS THIS BOARD MEMBER MANAGES MACON'S CHRISTMAS LIGHT EVENT ANNUALLY AS A PART OF NEWTOWN'S CREATING A SENSE OF PLACE MISSION. HE IS REIMBURSED FOR EXPENSES ASSOCIATED WITH PURCHASING, PLACEMENT AND STORAGE OF THE CHRISTMAS LIGHTS, PROPS, AND OTHER SUPPLIES FOR THIS EVENT. X 1 10000 X 1 115000 false true false FORM 990, PAGE 2, PART III, LINE 4A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI): NEWTOWN MACON (THROUGH ITS SUBSIDIARY NEWTOWN LOANS, LLC) HAS BEEN DESIGNATED BY THE U.S. DEPARTMENT OF THE TREASURY AS A CDFI. THE CDFI FACILITATES THE LARGER STRATEGY OF INCREASING DOWNTOWN RESIDENTS BY FUNDING LOFT DEVELOPMENT THROUGH THE REAL ESTATE LOAN FUND AND GROWING JOBS BY PROVIDING CAPITAL AND MENTORING TO ENTREPRENEURS. THE REAL ESTATE LOAN FUND WAS ESTABLISHED IN PARTNERSHIP WITH THE MACON- BIBB URBAN DEVELOPMENT AUTHORITY AND MACON-BIBB COUNTY. WE USE BOND FUNDS IN VIABLE RESIDENTIAL PROJECTS TO CLOSE THE GAP BETWEEN SOURCES OF FUNDS (INCLUDING OWNER EQUITY, TRADITIONAL FINANCING AND HISTORIC TAX CREDITS) AND THE ACTUAL COST TO REHABILITATE OR BUILD REAL ESTATE DEVELOPMENTS DOWNTOWN. AT THE END OF THE FISCAL YEAR, THE CFI HAD 13.7 MILLION OF LOANS IN SERVICE ON PROJECTS. IN TOTAL, CDFI'S REAL ESTATE LOANS PRODUCED PROJECTS WITH MARKET VALUES OF 147 MILLION, EXPECTED TO PRODUCE 378 RESIDENTIAL LOFTS AND REHABILITATE OVER 926,658 SQUARE FEET OF UNDERUTILIZED BUILDINGS. THE CDFI ALSO PROVIDES SUPPORT FOR ENTREPRENEURS. WE OFFER A VARIETY OF SERVICES INCLUDING SHEPHERDING APPLICANTS THROUGH THE PERMIT PROCESS, ONE- ON-ONE MENTORSHIP COUNSELING, AND ACCESS TO CAPITAL THROUGH LOANS, EQUITY INVESTMENTS AND JOINT VENTURES. OUR STAFF SERVED OVER 600 INDIVIDUAL ENTREPRENEURS DURING THE YEAR THROUGH A COMPREHENSIVE SET OF INDIVIDUAL AND GROUP TRAINING PROGRAMS. IN TOTAL BY THE END OF THE FISCAL YEAR, THE CDFI HAD CLOSED 9 BUSINESS LOANS, FOR A TOTAL OF APPROXIMATELY 671,000. THESE SERVICES ATTRACT BUSINESSES TO DOWNTOWN, VERIFIED BY A TOTAL OF 7 NET NEW BUSINESSES OPENING IN DOWNTOWN MACON DURING THE FISCAL YEAR. FORM 990, PAGE 2, PART III, LINE 4D GROWING JOBS AND INCREASING RESIDENTS: ONE OF THE MOST TRANSFORMATIVE WAYS NEWTOWN MACON IS CHANGING DOWNTOWN IS BY TURNING VACANT, DILAPIDATED BUILDINGS INTO BEAUTIFUL, USEFUL SPACES. NEWTOWN IS GROWING JOBS AND INCREASING RESIDENTS BY PROTECTING ENDANGERED BUILDINGS THROUGH THE TRANSITIONAL PROPERTY FUND (TPF). THIS FUND ALLOWS A BUILDING OWNER TO DONATE OR PARTIALLY DONATE A BUILDING TO NEWTOWN, AND NEWTOWN MATCHES THE BUILDING TO CAPABLE DEVELOPERS. THE TPF HELD ONE PROPERTY DURING THE FISCAL YEAR FOR FUTURE DEVELOPMENT, WHICH IS A DEVELOPABLE RIVERFRONT LOT AT 167 RIVERSIDE DR. ONE PROPERTY PREVIOUSLY HELD BY THE TPF REMAINED IN THE DEVELOPMENT PROCESS DURING THE FISCAL YEAR: 442 SECOND STREET, WHICH IS UNDER CONSTRUCTION FOR LOFTS AND A RETAIL TENANT. THE TPF COMPLETED THE REHABILITATION OF ONE PREVIOUSLY ABANDONED BUILDING AND RETURNED THIS BUILDING TO SERVICE DURING THE YEAR: 536 THIRD ST., WHICH NOW CONTAINS 28 RENTAL LOFTS AND THREE STOREFRONTS. THE TPF CONTINUED TO INDEPENDENTLY OWN AND REHABILITATE 455 THIRD ST., A HISTORIC THEATRE. TWO PREVIOUSLY-REHABILITATED TPF PROJECTS REMAINED UNDER SHARED OWNERSHIP INCLUDING A BOUTIQUE HOTEL AT 350 SECOND ST. AND A MIXED-USE BUILDING AT 596 CHERRY ST. PREVIOUS TPF PROJECTS INCLUDE: 518-530 CHERRY ST. (TRAVIS JEAN), 552-580 CHERRY ST. (LAMAR LOFTS), 566 POPLAR ST., 546 POPLAR ST., 382 SECOND ST. (CAPITOL THEATRE), 555 POPLAR ST., 454 TERMINAL AVE., 360 SIXTH ST., RIVERSIDE DR. ASSEMBLAGE, 300 CHERRY ST. (SPORTS HALL),745 POPLAR ST. (SHRINE TEMPLE), 461 THIRD ST., AND 540 MARTIN LUTHER KING, JR. BLVD. (MERCER MUSIC AT CAPRICORN). FORM 990, PAGE 6, PART VI, LINE 11B THE CFO AND CEO REVIEW THE FORM 990. IT IS THEN PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE THE RETURN IS FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD AND STAFF FILL OUT QUESTIONNAIRES ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSTRUCTION 16,621 0 0 CONSULTING 146,426 0 0 OTHER PROFESSIONAL FEES 62,283 54,907 0 ARCHITECTURE & DESIGN 220,132 0 0 TOTAL 445,462 54,907 0 FORM 990, PART X LINE 24 - UNSECURED NOTES AND LOANS PAYABLE TO UNRELATED THIRD PARTIES. AS PART OF A PRIVATE/PUBLIC PARTNERSHIP EFFORT TO RENOVATE, REHABILITATE AND RECONFIGURE SEVERAL BUILDINGS IN DOWNTOWN MACON, NEWTOWN'S SUBSIDIARY URBAN DEVELOPMENT CONCEPTS, LLC ENTERED INTO AN AGREEMENT WITH THE MACON - BIBB COUNTY URBAN DEVELOPMENT AUTHORITY TO MANAGE THOSE PROJECTS. THE PROJECTS ARE PARTIALLY FUNDED WITH COUNTY REVENUE BONDS WHICH ARE NOT TAX-EXEMPT. SOME OF THE BUILDINGS INCLUDED IN THE PROJECT ARE OWNED BY LOCAL BUSINESSES. THE MANAGEMENT AGREEMENT BETWEEN THE SUBSIDIARY AND THE DEVELOPMENT AUTHORITY NAMES THE SUBSIDIARY AS GUARANTOR OF THE DEBT. IN ADDITION, ONE OF THE SUBSIDIARY'S CONTRACTUAL DUTIES UNDER THE AGREEMENT IS TO COLLECT LOAN PAYMENTS FROM PROPERTY OWNERS AND REMIT THE PAYMENTS TO THE COUNTY DEBT RESERVE FUND AS REPAYMENT OF ALL DISBURSED BOND PROCEEDS AND RELATED ACCRUED INTEREST. HOWEVER, THIS OBLIGATION IS LIMITED ONLY TO THE SUBSIDIARY AND IS NOT A GENERAL OBLIGATION OF NEWTOWN MACON, INC. ALSO, THE SUBSIDIARY'S ONLY ASSETS ARE SECURITY INTERESTS IN THE PROPERTIES RECEIVING THE LOAN FUNDS. FORM 990, PART XI, LINE 9 RENTAL EXPENSES 766,459 CDFI PROGRAM EXPENSES -874,700 BOOK TO TAX DIFFERENCE IN PARTNERSHIP INCOME 232,465 INCREASE ATTRIBUTED TO NONCONTROLLING INTEREST 69 RENTAL EXPENSES -766,459 CDFI PROGRAM EXPENSES 874,700 BOOK / TAX DEPRECIATION DIFFERENCE -10,454 TOTAL 222,080 UDC REALTY LLC 555 POPLAR ST MACON GA 31201 203966010 PROP. MGMT GA 25436 263435 NA UDC MANAGEMENT LLC 555 POPLAR ST MACON GA 31201 582273893 PROP. MGMT GA NA NEWTOWN MACON PROFITS LLC 555 POPLAR ST MACON GA 31201 474828165 PROP. MGMT GA 137560 NA URBAN DEVELOPMENT CONCEPTS LLC 555 POPLAR ST MACON GA 31201 320442365 LOAN MGMT GA 313193 935277 N/A 544 MULBERRY-GROUND FLOOR LLC 555 POPLAR ST MACON GA 31201 823870890 PROP. MGMT GA 160423 1047447 N/A NEWTOWN MACON BID MANAGEMENT LLC 555 POPLAR ST MACON GA 31201 822582736 BID MGMT GA 22250 36027 N/A NEWTOWN LOANS LLC 555 POPLAR ST MACON GA 31201 475593272 LOAN MGMT GA 445380 42847 N/A 455 THIRD STREET LLC 555 POPLAR ST MACON GA 31201 320568636 PROP MGMT GA 645894 N/A JOHNSON LOFTS OPERATING LLC 555 POPLAR ST MACON GA 31201 383978560 PROP MGMT GA 138499 1670462 N/A SPEARMAN LOFTS OPERATING LLC 555 POPLAR ST MACON GA 31201 352589186 PROP MGMT GA 101902 2335607 N/A NEWTOWN MACON CONSTRUCTION LLC 555 POPLAR ST MACON GA 31201 854274050 CONST MGMT GA N/A SPEARMAN LOFTS OPERATING LLC 555 POPLAR STREET MACON GA 31201 352589186 RENTAL GA NEWTOWN MA UNRELATED -468 false true 0.01000 NEWTOWN UBIT LLC 555 POPLAR STREET MACON GA 31201 861716083 RENTAL GA NA S CORP 148573 278908 1.00000 false true false false true false false false false false false true true false true true false false false true NEWTOWN UBIT LLC A 147048 COST NEWTOWN UBIT LLC D 1040000 COST NEWTOWN UBIT LLC S 203056 COST SPEARMAN LOFTS LLC S 318737 COST SCHEDULE R NEWTOWN UBIT, LLC, REPORTED IN PART IV, HAS OWNERSHIP IN THE PARTNERSHIPS LISTED BELOW. THOSE PARTNERSHIPS REPORTED K-1 FORMS TO NEWTOWN UBIT, LLC FOR CALENDAR YEAR 2023. NEWTOWN UBIT, LLC IS TAXED AS AN S CORPORATION AND FILED FORM 1120-S FOR 2023. EARNINGS FROM THAT ENTITY WERE PASSED THROUGH TO NEWTOWN MACON, INC. ON FROM K-1 AND REPORTED ON FORM 990-T FOR 2023. INCOME, ASSETS AND TRANSACTIONS WITH THOSE PARTNERSHIPS HAS BEEN REPORTED AS COMBINED TOTALS FOR NEWTOWN UBIT, LLC IN PART IV AND PART V. 596 CHERRY MANAGEMENT, LLC EIN 38-4068509 350 SECOND, LLC EIN 30-1166198 536 THIRD MANAGEMENT, LLC EIN 84-2016251 461 THIRD, LLC EIN 35-2629324 425 CHERRY, LLC EIN 87-4233317