2025-08-15T14:07:00-05:00 2024-09-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-10-01 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 2025-08-15 1 1 JOSEPH CONNOLLY P01959750 9143818900 2025-08-15 2023 2025-03-06 01:10:19Z DAWN QUATTLEBAUM 4201 BUTTERWORTH PLACE NW WASHINGTON DC 20016 368647 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. 22 22 0 23 0 0 144379 52792 1842176 306913 16523 331 88812 8611 2091890 368647 0 0 0 0 0 0 0 0 0 3762373 2461546 3762373 2461546 -1670483 -2092899 4319719 3901597 10161000 11835777 -5841281 -7934180 X TO PROVIDE AFFORDABLE HOUSING AND RELATED RESIDENT SERVICES TO THE ELDERLY UNDER SECTION 232 OF THE NATIONAL HOUSING ACT. 0 1 1783159 0 306913 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. AS OF APRIL 2024, THE ORGANIZATION STOPPED LEASING UNITS TO TENANTS. 1783159 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 22 22 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 CRAIG MCCULLOUGH PRESIDENT 0.10 1.10 X X 0 0 0 MARCUS BRAXTON VICE PRESIDENT 0.10 1.10 X X 0 0 0 KEVIN WHITLEY TRESURER 0.10 1.10 X X 0 0 0 LECIA IMBERY SECRETARY 0.10 1.10 X X 0 0 0 MARTI BAILEY VICE PRESIDENT THRU 6/19/24 0.10 1.10 X X 0 0 0 MICHAEL BOCHNOVIC DIRECTOR 0.10 1.10 X 0 0 0 MICHAEL COLLINS DIRECTOR 0.10 1.10 X 0 0 0 CHRIS GARDNER DIRECTOR 0.10 1.10 X 0 0 0 JOSEPH HOWELL DIRECTOR 0.10 1.10 X 0 0 0 WAHEED HASSAN DIRECTOR 0.10 1.10 X 0 0 0 NIKHIL KUMTHA DIRECTOR 0.10 1.10 X 0 0 0 KIMBERLY MIKEC DIRECTOR 0.10 1.10 X 0 0 0 RT REV MARIANN EDGAR BUDDE 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 MEGAN ROBERTSON ESQ DIRECTOR 0.10 1.10 X 0 0 0 SHARON SELLERS 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 DIANA A SALADINI MA DIRECTOR 0.10 1.10 X 0 0 0 SOHAER RIZVI SYED DIRECTOR 0.10 1.10 X 0 0 0 SUSAN SPURLARK DIRECTOR 0.10 1.10 X 0 0 0 SUZANNE K WELCH ESQ DIRECTOR 0.10 1.10 X 0 0 0 DAWN QUATTLEBAUM CEO 5.00 35.00 X 0 184269 21998 REGINALD RAY COO AS OF MAY 2024 5.00 35.00 X 0 0 0 BELINDA DAVIS MANAGING DIRECTOR OF FINANCE 5.00 35.00 X 0 146066 12844 KATRINA LEWIS COO/CAO THRU 6/27/2024 5.00 35.00 X 0 145857 10734 0 476192 45576 0 0 1 0 RESIDENTIAL ONE LLC 8975 GUILFORD ROAD SUITE 100 COLUMBIA MD 21046 MANAGEMENT SERVICES 129900 1 52792 52792 ELDERLY/CONGREGATE SVC 531110 154405 154405 RENTAL INCOME 531110 152508 152508 306913 331 331 LAUNDRY AND VENDING 812300 4718 4718 OTHER TENANT CHARGES 812300 3893 3893 8611 368647 306913 0 8942 86600 86600 102396 102396 26829 26829 42237 42237 1417 1417 29422 29422 212956 212956 106343 106343 259980 259980 ALLOCATED COMPENSATION 849520 473934 375586 REPAIRS AND MAINTENANCE 637878 637878 MEAL COSTS 90228 90228 BAD DEBT 13900 13900 1840 1840 2461546 1783159 678387 0 62914 506 357181 357492 25588 0 20526 0 14398178 10854579 3801045 3543599 52465 0 4319719 3901597 430913 336342 32225 16085 48514 0 6226867 6224919 3422481 5258431 10161000 11835777 X -5841281 -7934180 -5841281 -7934180 4319719 3901597 -2092899 0 X 0 1 X 1 1 1 X 88130 296338 191431 144379 52792 773070 2969816 2673115 2767104 1842176 306913 10559124 3057946 2969453 2958535 1986555 359705 11332194 0 0 0 11332194 6516 2123 9566 5806 331 24342 6516 2123 9566 5806 331 24342 31171 349636 44248 83694 8611 517360 3095633 3321212 3012349 2076055 368647 11873896 0.95440 0.96330 0.00210 0.00140 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING - 2019 AMOUNT: $ 31,171. 2020 AMOUNT: $ 27,504. 2021 AMOUNT: $ 29,607. 2022 AMOUNT: $ 17,563. 2023 AMOUNT: $ 4,718. OTHER TENANT CHARGES - 2020 AMOUNT: $ 89,265. 2021 AMOUNT: $ 14,641. 2022 AMOUNT: $ 66,131. 2023 AMOUNT: $ 3,893. FORGIVENESS OF DEBT - 2020 AMOUNT: $ 232,867. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 175000 175000 12515973 9235159 3280814 1707205 1619420 87785 3543599 DUE TO SEABURY RESOURCES FOR AGING 5258431 5258431 X 368647 0 368647 0 368647 2461546 0 2461546 0 2461546 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, 2021. 0 0 0 0 0 0 0 0 0 DAWN QUATTLEBAUM CEO 0 184269 0 0 0 0 0 12746 0 9252 0 206267 0 0 BELINDA DAVIS MANAGING DIRECTOR OF FINANCE 0 146066 0 0 0 0 0 0 0 12844 0 158910 0 0 KATRINA LEWIS COO/CAO THRU 6/27/2024 0 145857 0 0 0 0 0 10057 0 677 0 156591 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 III, LINE 3 AS OF APRIL 2024, ALL UNITS WERE VACANT AND THE ENTITY STOPPED LEASING UNITS TO TENANTS. FINANCIAL APPLICATIONS FOR THE NEW PROJECT HAVE BEEN FILED AND ARE IN PROCESS. MONTGOMBERY COUNTY APPROVED THE SITE PLAN FOR THE NEW PROJECT IN SPRING OF 2024 AND THE ENTITY AND THE NEW DEVELOPMENT ENTITY ENTERED INTO AN OPTION AGREEMENT FOR THE SALE OF THE PROPERTY AFTER THE CLOSE OF FISCAL YEAR 2024. A REDEVELOPMENT LETTER OF SUPPORT HAS BEEN RECEVIED FROM HUD FOR THE SALE OF THE PROPERTY AND TRANSFER OF DEBT AND RELEASE OF RESTRICTIVE COVENANTS. 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 BASED ON $6 PER UNIT PER MONTH PLUS THE SUM OF 7.75% OF GROSS MONTHLY INCOME BASED ON PREVIOUS MONTH'S GROSS RECEIPTS. FOR THE YEAR ENDED SEPTEMBER 30, 2024, MANAGEMENT FEES WERE $ 86,600. 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 OFFICER 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 OFFICER AND KEEP A SECOND COPY FOR THEIR RECORDS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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