2026-01-30T14:13:13-05:00 2025-08-31 882802798 FORGE FINANCIAL & MANAGEMENT CONSULTING 1245 JORDAN CREEK PKWY STE 100 WEST DES MOINES IA 502662343 990 2024-09-01 421089265 KALONA VALLEY APARTMENTS INC KALO 5634326160 PO BOX 460 MECHANICSVILLE IA 52306 PHIL ROPP PRESIDENT 2026-01-29 true false JUSTIN A PLATE CPA P00538697 5156203050 2026-01-30 2024 2025-03-06 01:10:19Z PHIL ROPP PO BOX 504 KALONA IA 52247 338924 false X X 1977 IA HOUSING FOR LOW-INCOME SENIOR CITIZENS. 9 9 2 9 0 0 314554 338894 21 30 0 314575 338924 0 0 22215 18000 0 0 281628 271703 303843 289703 10732 49221 1025537 1037646 698625 661513 326912 376133 HOUSING FOR LOW-INCOME SENIOR CITIZENS. false false 244858 338894 THE ORGANIZATION PROVIDED 49 APARTMENTS TO LOW-INCOME SENIOR CITIZENS DURING THE YEAR AND ACHIEVED AND OCCUPANCY RATE OF 96% 244858 false false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 1 0 true 2 true false false false false false false false false X 9 9 false true false false true true true true true false false false true true true true true false false false X JOHN PETERSON 5634326160 205 E 1ST ST MECHANICSVILLE IA 52306 X JUNITA TROYER LEFT FY 2025 DIRECTOR X 0 0 0 LARRY KERN LEFT FY 2025 DIRECTOR X 0 0 0 JENELLE BENDER VICE PRESIDE 1.00 X X 0 0 0 TYLER COBLENTZ DIRECTOR 1.00 X 0 0 0 EDWIN HERSHBERGER DIRECTOR 1.00 X 0 0 0 PHIL ROPP PRESIDENT 1.00 X X 0 0 0 STEPHANIE SCHLABAUGH DIRECTOR 1.00 X 0 0 0 MARK SCHNEIDER DIRECTOR 1.00 X 0 0 0 JUDY SHOWALTER SECRETARY 1.00 X X 0 0 0 LANCE SLABACH DIRECTOR 1.00 X 0 0 0 EILEEN YOTTY TREASURER 1.00 X X 0 0 0 false false false RENT REVENUE 531110 189473 189473 FEES & CONTRACTS GOV AGENCIES 531110 136416 136416 CABLE & LAUNDRY REVENUE 531110 10573 10573 MISCELLANEOUS REVENUE 531110 2432 2432 338894 30 30 338924 325889 13035 16287 16287 1713 1713 32886 32886 1375 1375 10417 10417 164 164 76324 76324 48758 48758 64144 64144 37632 37632 MISC ADMIN EXPENSE 3 3 289703 244858 44845 0 6482 15762 69373 103294 1186 81 2413175 1494666 948496 918509 1025537 1037646 2853 9426 1308 686272 640679 9500 10100 698625 661513 X 326912 376133 326912 376133 1025537 1037646 X 49221 19000 -19000 X X false true X true true true 169500 169500 2074122 1392479 681643 169553 102187 67366 918509 SECUITY DEPOSITS PAYABLE 10100 10100 X 357924 19000 19000 338924 338924 289703 289703 289703 SCHEDULE D, PAGE 3, PART X INCOME TAX STATUS - THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE ORGANIZATION EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PAGE 6, PART VI, LINE 3 KALONA VALLEY APARTMENTS, INC. ENTERED INTO AN AGREEMENT WITH RIGHT WAY MANAGEMENT SERVICES TO HANDLE MANAGEMENT RESPONSIBILITIES AS OF JANUARY 1, 2018. UNDER THE TERMS OF THIS AGREEMENT, RIGHT WAY RECEIVES A MONTHLY MANAGEMENT FEE EQUAL TO 58 AND 58 PER OCCUPIED UNIT FOR THE YEARS ENDED AUGUST 31, 2025 AND 2024, RESPECTIVELY. TOTAL MANAGEMENT FEES WERE 32,886 AND 32,132 FOR THE YEARS ENDED AUGUST 31, 2025 AND 2024, RESPECTIVELY. FORM 990, PAGE 6, PART VI, LINE 6 ORGANIZATION HAS STOCKHOLDERS WHO EACH PAID TO BECOME STOCKHOLDERS WITH NO DIVIDEND OPTIONS. FORM 990, PAGE 6, PART VI, LINE 7A ALL BOARD MEMBERS ARE STOCKHOLDERS AND THEREFORE HAVE THE POWER TO APPOINT MEMBERS OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 7B BOARD MEMBERS ARE STOCKHOLDERS AND THEREFORE ABLE TO MAKE GOVERNANCE DECISIONS FOR THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE MANAGEMENT AGENT PRIOR TO FILLING. FORM 990, PAGE 6, PART VI, LINE 12C REVIEW IS COMPLETED EVERY THREE YEARS AS REQUIRED BY USDA AND ENFORCED BY MANAGEMENT AND GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 DURING THE YEAR ENDED AUGUST 31, 2025, THE ORGANIZATION RECEIVED IN-KIND CONTRIBUTIONS FROM THE CITY OF KALONA VALUED AT APPROXIMATELY 19,000. THE CONTRIBUTIONS CONSISTED OF VARIOUS OUTDOOR EQUIPMENT REPAIRS AND GROUND MAINTENANCE SERVICES. THESE IN-KIND CONTRIBUTIONS HAVE BEEN RECOGNIZED AS BOTH CONTRIBUTION REVENUE AND A CORRESPONDING EXPENSE IN THE ACCOMPANYING FINANCIAL STATEMENTS. FORM 990, PART XII THE BOARD OF DIRECTORS ASSUMES RESONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT SINCE ENTERING INTO AGREEMENT WITH RIGHTWAY MANAGEMENT SERVICES IN JANUARY 2018.