2025-08-08T16:19:16-04:00 2024-12-31 911347576 LOVERIDGE HUNT & CO CPA'S 14725 SE 36TH ST STE 401 BELLEVUE WA 980061682 990 2024-01-01 264584304 OUR COASTAL VILLAGE INC OURC 6024326291 PO BOX 108 YACHATS OR 974980108 K LAYNE MORRILL PRESIDENT DIRECTOR 6024326291 2025-08-07 true false YUEJIA PENG P02452147 4254532088 2025-08-08 2024 2025-03-06 01:10:19Z X K LAYNE MORRILL 1754065 false X OURCOASTALVILLAGE.ORG X 2009 OR PROVIDING RELIEF TO THE POOR, DISTRESSED, AND DISADVANTAGED ON THE CENTRAL OREGON COAST, PRIMARILY THROUGH AFFORDABLE HOUSING. 5 3 0 5 0 156604 436000 254748 1251319 9031 66746 0 420383 1754065 17500 74000 0 0 0 0 149841 194331 167341 268331 253042 1485734 3104758 4124497 422500 0 2682258 4124497 X PROVIDING RELIEF TO THE POOR, DISTRESSED, AND DISADVANTAGED ON THE CENTRAL OREGON COAST, PRIMARILY THROUGH AFFORDABLE HOUSING. false false SUPERVISION OF AN AFFORDABILITY COVENANT APPLICABLE TO SEVEN TOWNHOUSE UNITS OWNED BY PERSONS EARNING AT OR UNDER 80% OF AREA MEDIAN INCOME. ALL FUTURE BUYERS OR TENANTS MUST MEET THE INCOME ELIGIBILITY. RESALE PRICES CANNOT EXCEED THE PRICE PAID PLUS 2% PER YEAR FOR EACH FULL YEAR OF OWNERSHIP. 14500 OPERATION OF A 21-UNIT LIHTC AFFORDABLE WORKFORCE HOUSING DEVELOPMENT THROUGH FISTERRA GARDENS TOWNHOMES LP, A LIMITED PARTNERSHIP IN WHICH OUR COASTAL VILLAGE, INC., IS THE GENERAL PARTNER. THE PROJECT WAS COMPLETED IN 2019. ALL UNITS ARE SET ASIDE FOR HOUSEHOLDS EARNING NOT MORE THAN 60% OF AREA MEDIAN INCOME. SINCE COMPLETION, ALL UNITS HAVE BEEN RENTED TO ELIGIBLE HOUSEHOLDS. 1238391 DEVELOPMENT AND OPERATION OF A 24-UNIT LIHTC AFFORDABLE RENTAL HOUSING COMPLEX IN FLORENCE, OREGON, KNOWN AS OAK MANOR APARTMENTS, OF WHICH SIX UNITS WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 30% OF AREA MEDIAN INCOME; AND EIGHTEEN UNITS WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 60% OF AREA MEDIAN INCOME. CONSTRUCTION ENDED 2-28-24 AND THE PROPERTY WAS 100% LEASED AND OCCUPIED BY 6-30-24. 268331 74000 15083 DEVELOPMENT OF A 32-UNIT LIHTC AFFORDABLE RENTAL HOUSING COMPLEX IN FLORENCE, OREGON, KNOWN AS ELM PARK APARTMENTS, ALL OF WHICH WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 60% OF AREA MEDIAN INCOME; AND 21 OF THE UNITS WILL BE AVAILABLE TO HOUSEHOLDS AT AND UNDER 40% AND 30% OF AREA MEDIAN INCOME. CONSTRUCTION WILL BEGIN ON 6-1-25 AND BE COMPLETED BY 6-30-26, WITH OCCUPANCY SHORTLY THEREAFTER. 268331 74000 15083 268331 true false false false false false false false false false false true true false false false false false false false false false false false false false false true false false false false false false false true false true false false false false true true false true false true 1 0 false 0 false false false false false false false false X 5 3 true false false false false false false true true false false true true true true false true true false false OR X K LAYNE MORRILL 6024326291 628 RADAR ROAD YACHATS OR 97498 K LAYNE MORRILL PRESIDENT DI 40.00 X X 100002 0 0 ASHLEY K MCNAIR DIRECTOR 0.00 X 0 0 0 MATTHEW MCNAIR DIRECTOR 0.00 X 0 0 0 ELIZABETH MORRILL DIRECTOR SEC 0.00 X X 0 0 0 DENNIS SNYDER N/A 0.00 X 0 0 0 100002 1 false false false 436000 436000 DEVELOPMENT 531390 1252891 1252891 MISC REVENUE 531390 -1572 -1572 1251319 50091 50091 16655 16655 16655 16655 1754065 1267974 50091 74000 74000 50000 50000 2250 2250 1630 1630 26922 26922 DEVELOPMENT EXPENSE 111503 111503 RESIDENT SERVICE 897 897 TAX AND LICENSE 808 808 MISC 321 321 268331 268331 0 0 69505 409726 45250 3335 842441 618848 724276 2413070 1983070 119734 3104758 4124497 422500 422500 0 X 2682258 4124497 2682258 4124497 3104758 4124497 1485734 -35517 -7978 X false false false X 7500 9800 5958 6604 25300 55162 7500 9800 5958 6604 25300 55162 3695 51467 5598 4122 13158 16193 50091 89162 144324 1741676 0.35660 0.29180 X US TREASURIES 675883 C GP EQUITY ENVESTMENT FGT 48393 C 724276 SPONSOR SUBORDINATED LOAN TO FGT 1963060 C EQUITY INV OMA GP 20010 C 1983070 false NORTHWEST HOUSING ALTERNATIVES 2316 SE WILLARD ST MILWAUKIE OR 97222 930814473 501C3 15000 FMV AFFORDABLE HOUSING ASU FOUNDATION PO BOX 2260 TEMPE AZ 85280 816051042 501C3 50000 FMV TEACH FOR AFFOR HOUS 2 K LAYNE MORRILL DIRECTOR/PRESID 100002 DEVELOPMENT FEE false SCHEDULE L, PART V OUR COASTAL VILLAGE, INC. DEVELOPED A 21-UNIT AFFORDABLE WORKFORCE HOUSING PROJECT IN YACHATS, OREGON, WHICH IS OWNED BY FISTERRA GARDENS TOWNHOMES LP, OF WHICH OUR COASTAL VILLAGE, INC., IS THE GENERAL PARTNER. ON THIS PROJECT, OUR COASTAL VILLAGE INC. IS ALLOWED A DEVELOPMENT FEE OF 650,000, PAYABLE OVER TIME. IN 2018 AND 2019, OUR COASTAL VILLAGE, INC. RECEIVED TOWARD THIS DEVELOPMENT FEE A TOTAL OF 239,000. IN 2020, OUR COASTAL VILLAGE, INC. RECEIVED 153,532 TOWARD THIS DEVELOPMENT FEE. THE REMAINING BALANCE OF 257,860 WILL BE PAID OVER A PERIOD OF THIRTEEN YEARS. IN 2020 AND 2021, RESPECTIVELY, OCV RECEIVED 10,169 AND 14,500 TOWARD THE DEFERRED DEVELOPMENT FEE. IN 2016-2018 MR. MORRILL RECEIVED NO COMPENSATION FOR HIS WORK ON THE FGT PROJECT. AFTER COMPLETION, THE BOARD APPROVED A DEVELOPMENT FEE TO MR MORRILL FOR HIS SERVICES ON THE FGT PROJECT EQUAL TO 50% OF THE DEVELOPMENT FEES OCV RECEIVED FROM THE OWNER, OR 325,000. IN PRIOR YEARS, 242,082 WAS PAID TO MR. MORRILL TOWARD THIS DEVELOPMENT FEE. IN 2022, OCV PAID MR. MORRILL 4,000 TOWARD THIS DEVELOPMENT FEE, AND IN 2023, OCV PAID MR. MORRILL THE FINAL 41,750. OUR COASTAL VILLAGE, INC. DEVELOPED A 24-UNIT AFFORDABLE WORKFORCE HOUSING PROJECT IN FLORENCE, OREGON, WHICH IS OWNED BY OAK MANNER APARTMENTS LP, OF WHICH OUR COASTAL VILLAGE, INC., IS THE SOLE MEMBER OF GENERAL PARTNER OMA, GP, LLC. OAK MANOR APARTMENTS WAS PLACED IN SERVICE DURING 2024. OAK MANOR APARTMENTS WILL PAY OUR COASTAL VILLAGE INC. A DEVELOPMENT FEE OF 1,580,000. IN 2023 OAK MANOR APARTMENTS PAID OUR COASTAL VILLAGE 253,000. IN 2024 OAK MANOR APARTMENTS PAID OUR COASTAL VILLAGE, INC. THE REMAINING BALANCE OF 1,327,000. FOR HIS SERVICES IN DEVELOPING OAK MANOR APARTMENTS, THE BOARD APPROVED A DEVELOPMENT FEE FOR MR. MORRILL EQUAL TO 33.33% OF THE DEVELOPMENT FEE RECEIVED FROM OAK MANOR APARTMENTS LP. DURING 2023, OUR COASTAL VILLAGE, INC. PAID MR. MORRILL 100,000 IN 2023 AND 85,500 IN 2024 AS A DEVELOPMENT FEE. THE BALANCE OWED MR MORRILL WILL BE PAID OVER TIME AS THE CASH FLOW OF OUR COASTAL VILLAGE, INC. PERMITS. FORM 990, PAGE 2, PART III, LINE 4D DEVELOPMENT OF A 32-UNIT LIHTC AFFORDABLE RENTAL HOUSING COMPLEX IN FLORENCE, OREGON, KNOWN AS ELM PARK APARTMENTS, ALL OF WHICH WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 60% OF AREA MEDIAN INCOME; AND 21 OF THE UNITS WILL BE AVAILABLE TO HOUSEHOLDS AT AND UNDER 40% AND 30% OF AREA MEDIAN INCOME. CONSTRUCTION WILL BEGIN ON 6-1-25 AND BE COMPLETED BY 6-30-26, WITH OCCUPANCY SHORTLY THEREAFTER. FORM 990, PAGE 6, PART VI, LINE 2 K LAYNE MORRILL ELIZABETH R MORRILL HUSBAND AND WIFE FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD REVIEWS THE FORM 990 AT THE NEXT MEETING AFTER IT IS FILED. FORM 990, PAGE 6, PART VI, LINE 12C WE ARE A SMALL ORGANIZATION AND ENGAGE IN VERY FEW TRANSACTIONS. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE AWARE OF ALL TRANSACTIONS AND REVIEW THE CONFLICT-OF-INTEREST POLICY AS A REGULAR ITEM AT BOARD MEETINGS. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS OF DETERMINING COMPENSATION FOR THE PRESIDENT/DIRECTOR WAS REVIEWED AND APPROVED BY THE ORGANIZATION'S BOARD FORM 990, PAGE 6, PART VI, LINE 19 A COPY OF FORM 990 IS FILED WITH THE STATE OF OREGON DEPARTMENT OF JUSTICE AND IS AVAILABLE FOR REVIEW THROUGH THAT ORGANIZATION. WE HAVE COPIES OF OUR GOVERNING DOCUMENT AND CONFLICT OF INTEREST POLICY IN ELECTRONIC FORMAT THAT WE EMAIL TO PERSONS WHO REQUEST. OUR GOVERNING DOCUMENTS ARE ALSO POSTED ON OUR WEBSITE. JHWF LLC 8857 N 63RD PLACE PARADISE VALLEY AZ 85253 TITLE HOLD OR OUR COASTA OUR COASTAL VILLAGE INC FISTERRA GARDENS TOWNHOMES LP 628 RADAR ROAD YACHATS OR 97498 320512238 AFFORD HOU OR N/A RELATED -20 466 false true 0.00010 OMA GP LLC PO BOX 108 YACHATS OR 97498 881056209 MANAGEMENT OR N/A C CORP -111 19934 1.00000 true false true false true false false false false false false false true false false false false false false false OAK MANOR APARTMENTS LP B 20010 EQUITY CONTRIBUTION FISTERRA GARDENS TOWNHOMES B 41750 EQUITY CONTRIBUTION