2026-01-14T00:00:56-06:00 2024-06-30 333709623 COHNREZNICK ADVISORY LLC 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2023-07-01 363999938 BETH-ANNE RESIDENCES BETH 7734737870 1140 N LAMON AVE CHICAGO IL 60651 SHARIF WALKER PRESIDENT & CEO 7734737870 2025-10-03 1 1 NATHANIEL R ADAMS P01282482 3125085900 2025-09-03 2023 2025-03-06 01:10:19Z SHARIF WALKER 1140 N LAMON AVE CHICAGO IL 60651 1646526 0 X N/A X 1998 IL THE ORGANIZATION'S MISSION IS TO PROVIDE HOUSING FOR THE LOW INCOME ELDERLY AND DISABLED INDIVIDUALS. 13 13 0 0 0 0 0 0 1587176 1637552 35 8974 0 0 1587211 1646526 0 0 0 0 521553 523117 0 0 0 1360648 1348501 1882201 1871618 -294990 -225092 5655168 5465460 10526334 10561718 -4871166 -5096258 THE ORGANIZATION OWNS AND OPERATES A 125 UNIT RESIDENTIAL RENTAL FACILITY FOR THE ELDERLY AND DISABLED INDIVIDUALS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. 0 0 1745976 1637552 THE ORGANIZATION'S PRIMARY PROGRAM IS TO PROVIDE AN ASSISTED LIVING FACILITY FOR LOW INCOME ELDERLY AND DISABLED INDIVIDUALS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. 1745976 1 0 0 0 0 0 0 0 0 0 1 0 0 0 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 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 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 SHIELD SECURITY SERVICES 321 NORTH CICERO CHICAGO IL 60644 SECURITY SERVICES 247454 1 RENTAL REVENUE - TENAN 531110 1084054 1084054 RENTAL REVENUE 531110 541651 541651 OTHER PROGRAM REVENUE 531110 11847 11847 1637552 8974 8974 1646526 1637552 0 8974 439720 439720 61635 61635 21762 21762 97092 97092 1154 1154 28550 28550 748 748 362494 362494 125601 125601 SECURITY SERVICES 247454 247454 UTILITIES 206875 206875 REPAIRS AND MAINTENANCE 202679 202679 MISCELLANEOUS ADMINISTR 61081 61081 14773 14773 1871618 1745976 125642 0 37815 41337 21870 28578 87883 120511 12908624 7857346 4747089 5051278 760511 223756 5655168 5465460 116234 152461 1341 462 10371000 10371000 37759 37795 10526334 10561718 X -4871166 -5096258 -4871166 -5096258 5655168 5465460 -225092 0 X 0 1 X 1 0 X 1397658 1523564 1595318 1587176 1637552 7741268 1397658 1523564 1595318 1587176 1637552 7741268 0 0 0 7741268 1339 140 34 35 8974 10522 1339 140 34 35 8974 10522 1398997 1523704 1595352 1587211 1646526 7751790 0.99860 0.99960 0.00140 0.00040 X 10525277 6446732 4078545 1592378 787981 804397 126009 126009 0 664960 496624 168336 5051278 SECURITY DEPOSITS 37795 37795 X 1646526 0 1646526 0 1646526 1871618 0 1871618 0 1871618 PART X, LINE 2: THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2024. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE, AND DOES FILE, TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2021 REMAIN OPEN. 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, 2024 AND 2023, MANAGEMENT FEES WERE $97,092 AND $94,161, RESPECTIVELY. MANAGEMENT FEES ARE BASED ON APPROXIMATELY 6.00 PERCENT OF MONTHLY RENTAL COLLECTIONS, CAPPED AT $58.12. EFFECTIVE SEPTEMBER 1, 2018, MANAGEMENT FEES ARE BASED ON 6.00 PERCENT OF MONTHLY RENTAL COLLECTIONS WITH NO CAP. AS OF JUNE 30, 2024 AND 2023, PROPERTY MANAGEMENT FEES PAYABLE WERE $9,261 AND $9,325, 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 ANNUALLY, THE ORGANIZATION MONITORS AND ENFORCES ITS POLICIES THROUGH THE BOARD TERM RENEWAL PROCESS AT THE FIRST MEETING OF EACH FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL DOCUEMENTS AVAILABLE AT ITS BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW PROCEDURES ARE PERFORMED BY A RELATED ORGANIZATION, BETHEL NEW LIFE, INC. (XXX-XX-XXXX). THE CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE ACTIVITY FOR DETERMINING COMPENSATION IS LED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE COMPENSATION OF OTHER OFFICERS ARE DETERMINED BY THE PRESIDENT & CEO WHO ARE VESTED WITH THE AUTHORITY TO DETERMINE SUCH SALARIES. TYPICALLY, THE SALARIES REFLECT THE RANGES PORTRAYED IN COMPENSATION STUDIES AND DISCLOSED IN THE ANNUAL BUDGET APPROVED BY THE BOARD OF DIRECTORS. 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) N/A 0 BETH-ANNE EXTENDED LIVING 4950 WEST THOMAS STREET CHICAGO IL 60651 364372019 HOUSING IL 501(C)(3) BETHEL NEW LIFE INC 1 BETHEL PACE CENTRE 4950 WEST THOMAS STREET CHICAGO IL 60651 366700890 HOUSING IL 501(C)(3) 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 125601 CASH