2025-11-16T12:28:39-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2024-01-01 742685268 HOUSING AND COMMUNITY SERVICES INC HOUS 2108214300 3419 NACOGDOCHES ROAD SAN ANTONIO TX 782173377 JAMES BUTCHER CFO 2108214300 2025-11-15 1 1 JOLANTA TUCK P01340068 7813803520 2025-11-15 2024 2025-03-06 01:10:19Z JACLYN S WOODRING 3419 NACOGDOCHES ROAD SAN ANTONIO TX 782173377 33952071 0 X WWW.PROSPERAHCS.ORG X 1993 TX AS A CHARITY, PROVIDES SAFE, HIGH QUALITY, AFFORDABLE HOUSING WITH SUPPORT SERVICES. 15 15 285 17 1398032 871579 4640184 16216611 19569923 17098405 192512 509028 1085511 128027 25488130 33952071 0 0 0 0 6566059 7246158 0 0 468509 11583942 9581832 18150001 16827990 7338129 17124081 120648641 153248412 35247459 36420318 85401182 116828094 X EMPOWERING FAMILIES BY PROVIDING SAFE, HIGH QUALITY, AFFORDABLE HOUSING WITH SUPPORT SERVICES. 0 0 14000052 15828400 TO SUPPORT THE ORGANIZATION MISSION, THE ORGANIZATION PROVIDED ADMINISTRATIVE SUPPORT FOR THE NON-PROFIT AND FOR-PROFIT OWNERSHIP OF 4,831 UNITS OF LOW-INCOME HOUSING, PROVIDED AND SUPERVISED SOCIAL SERVICES AND RESIDENT ACTIVITIES, AND ENGAGED IN FUNDRAISING ACTIVITIES FOR HOUSING ACQUSITION AND REHABILITATION AND SOCIAL SERVICES AND RESIDENT ACTIVITIES. THE ORGANIZATION MAINTAINED U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) PROPERTY BASED SECTION 8 HOUSING ASSISTANCE PAYMENT (HAP) RENTAL ASSISTANCE CONTRACTS. THE ORGANIZATION MAINTAINED COMPLIANCE WITH THE REGULATIONS OF THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS (TDHCA), HUD, AND CITY AND COUNTY AFFORDABLE HOUSING PROGRAMS.THE ORGANIZATION HAS A VOLUNTEER BOARD OF DIRECTORS COMPRISED OF COMMUNITY AND RESIDENT PARTICIPANTS. THE FULL BOARD MEETS REGULARLY TO PROVIDE GUIDANCE AND OVERSIGHT IN FURTHERANCE OF THE ORGANIZATION MISSION.THE ORGANIZATION CONTINUED TO DIRECTLY OWN AND OPERATE RENAISSANCE VILLAGE APARTMENTS, A LOW-INCOME HOUSING APARTMENT COMPLEX WITH 67 UNITS. THE ORGANIZATION ALSO CONTINUED TO PROVIDE OVERSIGHT AND MANAGEMENT OF SEVEN LOW-INCOME APARTMENT COMPLEXES AND TO SERVE AS THE SOLE MEMBER FOR THE DISREGARDED ENTITIES (FOR INCOME TAX PURPOSES) THAT OWNED AND OPERATED THESE LOW-INCOME APARTMENT COMPLEXES (100% OF THE UNITS ARE SECTION 8):HCS 308, LLC DBA SHERWOOD APARTMENTS, 56 UNITSHCS 312, LLC DBA ROBINHOOD APARTMENTS, 69 UNITSHCS 313, LLC DBA NORTH STAR VILLAGE APARTMENTS, 56 UNITSHCS 314, LLC DBA FOX RUN APARTMENTS, 150 UNITSHCS 401, LLC DBA LANTANA SQUARE APARTMENTS, 44 UNITSHCS 501, LLC DBA FRIO APARTMENTS, 63 UNITSHCS 502, LLC DBA VILLAGE CIRCLE APARTMENTS, 50 UNITSTHE ORGANIZATION EXECUTIVE DIRECTOR SERVED AS THE EXECUTIVE DIRECTOR FOR 15 ASSOCIATED HOUSING BOARDS THAT OPERATE LOW-INCOME PROPERTIES. ALL BOARD MEMBERS OF THE ORGANIZATION AND ITS ASSOCIATE BOARDS SERVED WITHOUT COMPENSATION OTHER THAN REIMBURSEMENT BY THE ORGANIZATION OF EXPENSES INCURRED DIRECTLY RELATED TO BOARDS ACTIVITIES (PRIMARILY TRAVEL EXPENSES ASSOCIATED WITH BOARD MEETINGS).THE ORGANIZATION ALSO PROVIDED OVERSIGHT FOR RESIDENT SERVICES AND/OR COMMUNITY LEARNING CENTER PROGRAMS AT MOST OF ITS LOW-INCOME HOUSING PROPERTIES. A QUALITY ASSURANCE PROGRAM WAS FOLLOWED TO ENSURE COMPLIANCE WITH COMPANY GUIDELINES AND WITH U.S. DEPARTMENT OF HUD REGULATIONS PERTAINING TO NEIGHBORHOOD NETWORKS CENTERS.TAX CREDIT ENTITIES:THE ORGANIZATION FORMED VARIOUS ENTITIES OTHER THAN THE SINGLE MEMBER LIMITED LIABILITY COMPANIES LISTED ABOVE TO ACQUIRE, DEVELOP, CONSTRUCT, REHABILITATE, AND OPERATE LOW-INCOME MULTIFAMILY PROJECTS IN SOUTH AND CENTRAL TEXAS USING LOW-INCOME HOUSING TAX CREDITS AWARDED BY THE TDHCA. THE ORGANIZATION FORMED SINGLE MEMBER LIMITED LIABILITY COMPANIES AND LIMITED PARTNERSHIPS, INCLUDING: 810/910 NORTH FRIO STREET GP, LLC, GENERAL PARTNER810/910 NORTH FRIO STREET, LPDBA VISTA VERDE APARTMENTS192 UNITS WITH 190 UNITS AS HUD SECTION 8CAMBRIAN EAST RIVERSIDE GP, LLC, GENERAL PARTNERCAMBRIAN EAST RIVERSIDE LPDBA CAMBRIAN EAST RIVERSIDE65 UNITSEASTERLING CULEBRA APARTMENTS GP, LLC, GENERAL PARTNEREASTERLING CULEBRA APARTMENTS, LTD.DBA STARLING APARTMENTS90 UNITSGUILD PARK GP, LLC, GENERAL PARTNERGUILD PARK, LPDBA GUILD PARK APARTMENTS114 UNITSHCS MONTABELLA POINTE, LLC, GENERAL PARTNERMONTABELLA POINTE, LTD.DBA MONTABELLA POINTE APARTMENTS144 UNITSKINGSVILLE LULAC MANOR GP, LLC, GENERAL PARTNERKINGSVILLE LULAC MANOR, LPDBA KINGSVILLE LULAC MANOR APARTMENTS88 UNITS WITH 100% AS HUD SECTION 8PHCS RIO MANOR GP, LLC, GENERAL PARTNERPHCS RIO MANOR, LPDBA RIO MANOR APARTMENTS60 UNITS WITH 27 UNITS AS HUD SECTION 8PHCS VILLAGE AT ROOSEVELT GP, LLC, GENERAL PARTNERPHCS VILLAGE AT ROOSEVELT, LPDBA VILLAGE AT ROOSEVELT APARTMENTS57 UNITSPV COUNTRY CLUB VILLAGE GP, LLC, GENERAL PARTNERPV COUNTRY CLUB VILLAGE, LPDBA COUNTRY CLUB VILLAGE APARTMENTS270 UNITS WITH 82 UNITS AS HUD SECTION 8VILLAGE AT NOGALITOS GP, LLC GENERAL PARTNERVILLAGE AT NOGALITOS, LPDBA VILLAGE AT NOGALITOS APARTMENTS78 UNITSWEST DURANGO GP, LLC, GENERAL PARTNERWEST DURANGO, LPDBA WEST DURANGO PLAZA APARTMENTS82 UNITS WITH 100% AS HUD SECTION 8THE ORGANIZATION CONTINUED AS THE 99.99% LIMITED PARTNER IN OM/OV, LP, WHICH OWNS AND OPERATES THE OAK MANOR APARTMENTS. ACQUSITION AND REHABILITATION WAS FINANCED WITH TAX CREDIT EXCHANGE PROGRAM FUNDING AWARDED BY THE TDHCA. OM/OV GP, LLC, AS GENERAL PARTNER FOR OM/OV, LP DBA OAK MANOR APARTMENTS, 229 UNITS WITH 220 UNITS AS HUD SECTION 8. 14000052 1 1 0 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 148 0 1 285 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X JAMES BUTCHER 2108214300 3419 NACOGDOCHES ROAD SAN ANTONIO TX 782173377 ALICIA THOMAS DIRECTOR (OUTGOING) 1.00 X 0 0 0 ANGELICA GRANADOS DIRECTOR 1.00 0.10 X 0 0 0 CAROLE BUFLER DIRECTOR 1.00 0.10 X 0 0 0 CHARLES GLENN DIRECTOR 1.00 X 0 0 0 CHARLOTTE MORE DIRECTOR 1.00 X 0 0 0 DADIRI JAMA DIRECTOR 1.00 0.10 X 0 0 0 DARRELL DEMING DIRECTOR 1.00 0.40 X 0 0 0 DAVID A VALDEZ DIRECTOR 1.00 X 0 0 0 DAVID PAUL DIRECTOR 1.00 X 0 0 0 MATT HULL DIRECTOR 1.00 X 0 0 0 MICHELLE WHETTEN DIRECTOR 1.00 X 0 0 0 MONICA CARMONA DIRECTOR 1.00 X 0 0 0 NANCY HARD VICE CHAIR/SECRETARY 2.00 0.40 X X 0 0 0 RAFAEL TORRES CHAIR 2.00 0.20 X X 0 0 0 RICHARD PENA DIRECTOR 1.00 0.20 X 0 0 0 VIRGINA DELERME SECRETARY (OUTGOING) 2.00 0.10 X X 0 0 0 WILLIAM NASH TREASURER 2.00 0.10 X X 0 0 0 JACLYN S WOODRING EXECUTIVE DIRECTOR 32.00 8.00 X 250496 72004 29794 JAMES BUTCHER CHIEF FINANCIAL OFFICER 32.00 8.00 X 198077 0 6001 ARANYA DE SOLA VP HUMAN RESOURCES 40.00 X 168519 0 21675 BRADFORD MCMURRAY VP PROPERTY DEVELOPMENT 32.00 8.00 X 145763 34974 26045 GEORGE SAMUEL BAIRD VP CONSTRUCTION MANAGEMENT 40.00 X 202820 0 26441 ROGELIO GRANADO VP PROPERTY MANAGEMENT 4.00 36.00 X 24340 154160 23698 RYAN M SWEENEY EXECUTIVE VP (OUTGOING) 40.00 X 228606 0 10794 1218621 261138 144448 6 0 1 0 LUCAS AND ASSOCIATES LP 3419 NACOGDOCHES RD SAN ANTONIO TX 78217 HOUSING CONSULTANT 231384 ASTEX ENVIRONMENTAL SERVICES 139 BRANIFF DRIVE SAN ANTONIO TX 78216 ENVIRONMENTAL SERVICES 217850 BAKER TILLY VIRCHOW KRAUSE LLP PO BOX 7398 MADISON WI 53707 HOUSING CONSULTANT 191850 KIMLEY-HORN AND ASSOCIATES INC PO BOX 951640 DALLAS TX 75395 ENGINEER 160666 COHNREZNICK LLP 818 CONGRESS AVENUE SUITE 200 AUSTIN TX 78701 CPA AUDIT & TAX 146494 6 12373148 3468735 374728 12068183 16216611 CONTRACT SERVICES 531110 9813477 8415445 1398032 TENANT ASSISTANCE PAYMENTS 531110 4364715 4364715 TENANT RENTAL INCOME 531110 1758360 1758360 PROGRAM RELATED INVESTMENT INC 531110 1161853 1161853 17098405 509028 509028 TENANT CHARGES 531110 53306 53306 LAUNDRY & VENDING REVENUE 531110 43702 43702 31019 31019 128027 33952071 15828400 1398032 509028 X 477772 358329 95554 23889 5162259 3946836 995151 220272 1178407 909284 215298 53825 427720 333199 75617 18904 378041 378041 55551 42192 10687 2672 198195 134520 59570 4105 1736726 1295251 355125 86350 14453 6085 7962 406 171435 40325 128422 2688 132286 99215 26457 6614 2658039 2529604 102748 25687 233651 175238 46730 11683 81938 47834 30915 3189 174687 174687 1164962 1161103 3087 772 68980 49851 15806 3323 CONTRACTS - MAINTENANCE 680617 680617 REAL ESTATE DEVELOPMENT 453664 453664 RESIDENT SERVICES 249632 249632 SUPPLIES - MAINTENANCE 229194 229194 899781 705351 190300 4130 16827990 14000052 2359429 468509 3491433 3406295 15973799 15475902 1529020 2573146 384252 321077 50675066 12251710 39569983 38423356 13276129 27767621 44587544 63025974 1836481 2255041 120648641 153248412 2957248 4809628 9222313 8035249 136271 389807 21931627 22185634 1000000 1000000 35247459 36420318 X 81289100 112716012 4112082 4112082 85401182 116828094 120648641 153248412 X 17124081 14302831 X 0 1 X 1 1 1 X 10279603 1144561 5967553 4640184 16216611 38248512 15491717 6325526 12849068 18890838 15700373 69257522 295231 157749 325609 112351 890940 26066551 7627836 19142230 23643373 31916984 108396974 0 4151005 1601561 3961695 8450415 5154707 23319383 4151005 1601561 3961695 8450415 5154707 23319383 85077591 2137 1000 5409 192512 509028 710086 2137 1000 5409 192512 509028 710086 423751 608119 672583 679085 1398032 3781570 293283 643142 130047 1126569 128027 2321068 26785722 8880097 19950269 25641539 33952071 115209698 0.73850 0.76840 0.00620 0.00190 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2020 AMOUNT: $ 43,196. 2021 AMOUNT: $ 8,268. 2022 AMOUNT: $ 6,900. 2023 AMOUNT: $ 19,112. 2024 AMOUNT: $ 31,019. INVOLUNTARY CONVERSION GAIN - 2020 AMOUNT: $ 250,087. 2021 AMOUNT: $ 634,874. 2023 AMOUNT: $ 1,000,000. TENANT CHARGES - 2022 AMOUNT: $ 74,542. 2023 AMOUNT: $ 56,462. 2024 AMOUNT: $ 53,306. LAUNDRY VENDING - 2022 AMOUNT: $ 48,605. 2023 AMOUNT: $ 50,995. 2024 AMOUNT: $ 43,702. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 6017075 6017075 39853249 8572085 31281164 2896996 2711350 185646 1907746 968275 939471 38423356 INVESTMENT IN LOW-INCOME HOUSING ENTITIES 27767621 C 27767621 NOTES/INT RECEIVABLES WITH LOW-INCOME HOUSING ENTITIES 63025974 C 63025974 X PART IV, LINE 2B: TENANT SECURITY DEPOSITS HELD BY THE ORGANIZATION UNTIL TENANTS MOVE OUT. PART X, LINE 2: THE CORPORATION IS ORGANIZED AS A TEXAS NONPROFIT ORGANIZATION. THE CORPORATION INTENDS TO OPERATE AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS OBTAINED A LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") THAT PROVIDES TAX-EXEMPT STATUS. THUS, NO FEDERAL INCOME TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS, EXCEPT FOR UNRELATED BUSINESS INCOME TAX. THE CORPORATION RECOGNIZES A TAX POSITION IN THE CONSOLIDATED FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. PENALTIES AND INTEREST ASSOCIATED WITH ANY UNCERTAIN TAX POSITIONS ARE RECORDED IN THE PERIOD ASSESSED IN GENERAL AND ADMINISTRATIVE EXPENSE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. DURING THE YEAR ENDED DECEMBER 31, 2024, THE CORPORATION RECOGNIZED AN INCOME TAX PROVISION OF $114,467 AS A RESULT OF THE OPERATIONS OF THE CORPORATION'S PROFIT-MOTIVATED ASSOCIATES. THE LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES IN WHICH THE CORPORATION HAS A PARTNERSHIP INTEREST HAVE ELECTED TO BE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES AND, AS SUCH, ARE NOT SUBJECT TO INCOME TAXES. ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND ARE REPORTED BY ITS OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THE PARTNERSHIPS' FEDERAL TAX STATUSES ARE BASED ON THEIR LEGAL STATUS AS A PARTNERSHIP. AS SUCH, THE PARTNERSHIPS ARE NOT REQUIRED TO TAKE ANY TAX POSITIONS IN ORDER TO QUALIFY AS A PASS-THROUGH ENTITY. THE PARTNERSHIPS FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE PARTNERSHIPS HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE ENTITIES ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN. CERTAIN ASSOCIATES STRUCTURED AS SINGLE MEMBER LIMITED LIABILITY COMPANIES ARE DISREGARDED ENTITIES FOR INCOME TAX PURPOSES AND DO NOT FILE AN INCOME TAX RETURN. TAXABLE INCOME OR LOSS PASSES THROUGH TO THE SOLE MEMBER TO BE REPORTED ON ITS TAX RETURN. THESE ASSOCIATES DO NOT TAKE ANY TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. X X X X 0 0 0 0 0 0 0 1 0 JACLYN S WOODRING EXECUTIVE DIRECTOR 195789 54209 46875 15626 7832 2169 0 0 23198 6596 273694 78600 0 0 RYAN M SWEENEY EXECUTIVE VP (OUTGOING) 228606 0 0 0 0 0 0 0 10794 0 239400 0 0 0 GEORGE SAMUEL BAIRD VP CONSTRUCTION MANAGEMENT 170442 0 24878 0 7500 0 0 0 26441 0 229261 0 0 0 BRADFORD MCMURRAY VP PROPERTY DEVELOPMENT 127455 30397 18308 4577 0 0 0 0 20914 5131 166677 40105 0 0 JAMES BUTCHER CHIEF FINANCIAL OFFICER 198077 0 0 0 0 0 0 0 6001 0 204078 0 0 0 ROGELIO GRANADO VP PROPERTY MANAGEMENT 21830 134170 1500 13500 1010 6490 0 0 2819 20879 27159 175039 0 0 ARANYA DE SOLA VP HUMAN RESOURCES 156019 0 12500 0 0 0 0 0 21675 0 190194 0 0 0 PART I, LINE 3 THE ORGANIZATION BOARD OF DIRECTORS ESTABLISHES A COMPENSATION COMMITTEE ANNUALLY TO REVIEW THE EXECUTIVE DIRECTOR (ED) COMPENSATION. SEE SCHEDULE J, PART I, LINE 3 FOR METHODS THAT ARE USED TO ESTABLISH THE COMPENSATION. WEDGE MANAGEMENT, INC. (WMI) AND NHMC-NATIONAL HOUSING MANAGEMENT CORPORATION (NHMC) ARE RELATED TAXABLE CORPORATIONS THAT PROVIDE PROPERTY MANAGEMENT AND ACCOUNTING SERVICES TO THE ORGANIZATION FOR ITS LOW-INCOME HOUSING PROPERTIES. THE ED OF THE ORGANIZATION IS THE CEO OF WMI AND THE PRESIDENT OF NHMC. TOGETHER THE ORGANIZATION, WMI, AND THREE OTHER ORGANIZATION ASSOCIATES PAY THE COMPENSATION AND BENEFITS (C&B) FOR THE ED. THE CHIEF FINANCIAL OFFICER (CFO) FOR THE ORGANIZATION IS ALSO THE CFO FOR WMI AND NHMC. HCS PAYS THE C&B FOR THE CFO. THE ED WITH OVERSIGHT FROM THE HCS COMPENSATION COMMITTEE ANNUALLY REVIEWS THE COMPENSATION FOR THE CFO. THE ORGANIZATION HAS ELECTED TO USE OPTION 1 (FORM W-2 METHOD) TO REPORT THE C&B OF THE ED AND CFO. PART I, LINE 7 AMOUNTS INCLUDED IN COLUMN B(II) REPRESENT BONUS PAYMENTS. THESE AMOUNTS WERE APPROVED BY THE BOARD AND INCLUDED IN THE INDIVIDUAL'S W-2'S. X PROMISORY NOTES 2 11873148 FMV X SEE PART II 1 90000 LOAN TERMS X SEE PART II 1 75000 LOAN TERMS X SEE PART II 1 30035 LOAN TERMS 0 0 0 SCHEDULE M, PART I, LINE 26 $22,500 CITY OF SAN ANTONIO, TEXAS: ANNUAL PARTIAL PRINCIPAL FORGIVENESS RECOGNIZED DURING THE FISCAL YEAR AS PART OF THE TERMS OF A $900,000 PROMISSORY NOTE AND CDBG PROGRAM AGREEMENT WITH THE CITY OF SAN ANTONIO, TEXAS (COSA) DATED JULY 26, 2019. PROCEEDS OF THE LOAN WERE USED TO ASSIST WITH THE CONSTRUCTION OF THE VILLAGE AT ROOSEVELT APARTMENTS, A LOW-INCOME, MULTIFAMILY HOUSING PROJECT. A PORTION OF THE NOTE IN THE AMOUNT OF $450,000 PROVIDES FOR ANNUAL PINCIPAL FORGIVENESS OF $22,500 BEGINNING DECEMBER 1, 2021, IF THE ORGANIZATION COMPLIES WTIH THE TERMS OF THE COSA LOAN DOCUMENTS. IN 2024 THE ORGANIZATION RECOGNIZED FOUR YEARS OF LOAN FORGIVENESS TOTALING $90,000. SCHEDULE M, PART I, LINE 27 $125,000 CITY OF SAN ANTONIO, TEXAS: PARTIAL PRINCIPAL FORGIVENESS RECOGNIZED DURING THE FISCAL YEAR AS PART OF THE TERMS OF A $1,500,000 PROMISSORY NOTE AND HOME LOAN AGREEMENT WITH THE CITY OF SAN ANTONIO, TEXAS (COSA) DATED SEPTEMBER 14, 2010. PROCEEDS OF THE LOAN WERE USED TO ASSIST WITH THE CONSTRUCTION OF THE MONTABELLA POINTE APARTMENTS, A LOW-INCOME, MULTIFAMILY HOUSING PROJECT. THE NOTE PROVIDES FOR ANNUAL PRINCIPAL FORGIVENESS OF $75,000 BEGINNING OCTOBER 1, 2011 UNTIL OCTOBER 1, 2030 IF THE ORGANIZATION COMPLIES WITH THE TERMS OF THE COSA LOAN DOCUMENTS . SCHEDULE M, PART I, LINE 28 $30,035 CITY OF SAN ANTONIO, TEXAS: ANNUAL PARTIAL PRINCIPAL FORGIVENESS RECOGNIZED DURING THE FISCAL YEAR AS PART OF THE TERMS OF A $900,698 PROMISSORY NOTE AND HOME LOAN AGREEMENT WITH THE CITY OF SAN ANTONIO, TEXAS (COSA) DATED JUNE 1, 2006. PROCEEDS OF THE LOAN WERE USED TO ASSIST WITH THE ACQUISITION AND REHABILITATION OF THE VISTA VERDE APARTMENTS, A LOW-INCOME, MULTIFAMILY HOUSING PROJECT. A PORTION OF THE NOTE IN THE AMOUNT OF $600,698 PROVIDES FOR ANNUAL PRINCIPAL FORGIVENESS OF $30,035 IF THE ORGANIZATION COMPLIES WITH THE TERMS OF THE COSA LOAN DOCUMENTS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION CONTRACTS WITH WEDGE MANAGEMENT, INC. AND NHMC - NATIONAL HOUSING MANAGEMENT CORPORATION, RELATED TAXABLE CORPORATIONS, TO SERVE AS ITS MANAGEMENT AGENTS FOR THE OPERATIONAL ACTIVITIES OF ITS LOW-INCOME HOUSING PROPERTIES. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR IS CHARGED WITH THE TIMELY AND ACCURATE PREPARATION OF THE ANNUAL FORM 990. AN INDEPENDENT CPA FIRM PREPARES A DRAFT OF THE FORM 990. THE ORGANIZATION CHIEF FINANCIAL OFFICER AND VICE PRESIDENT OF FINANCIAL COMPLIANCE REVIEW THE DRAFT. THE EXECUTIVE DIRECTOR OR CHIEF FINANCIAL OFFICER SIGNS THE FINAL FORM 990, WHICH IS THEN FILED. A COPY OF THE FORM 990 THAT WAS FILED IS PROVIDED TO THE BOARD OF DIRECTORS AT THE BOARD MEETING SUBSEQUENT TO THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C AT THE ANNUAL MEETING OF THE BOARD MEMBERS, ALL MEMBERS ARE ASKED TO REVIEW AND SIGN A NEW POLICY STATEMENT AND ADVISE THE BOARD IF ANY CONFLICTS EXIST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION BOARD OF DIRECTORS ESTABLISHES A COMPENSATION COMMITTEE ANNUALLY TO REVIEW THE EXECUTIVE DIRECTOR (ED) COMPENSATION. SEE SCHEDULE J, PART I, LINE 3 FOR METHODS THAT ARE USED TO ESTABLISH THE COMPENSATION. WEDGE MANAGEMENT, INC. (WMI) AND NHMC-NATIONAL HOUSING MANAGEMENT CORPORATION (NHMC) ARE RELATED TAXABLE CORPORATIONS THAT PROVIDE PROPERTY MANAGEMENT AND ACCOUNTING SERVICES TO THE ORGANIZATION FOR ITS LOW-INCOME HOUSING PROPERTIES. THE ED OF THE ORGANIZATION IS THE CEO OF WMI AND THE PRESIDENT OF NHMC. TOGETHER THE ORGANIZATION, WMI, AND THREE OTHER ORGANIZATION ASSOCIATES PAY THE COMPENSATION AND BENEFITS (C&B) FOR THE ED. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER: PROGRAM SERVICE EXPENSES 1,295,251. MANAGEMENT AND GENERAL EXPENSES 355,125. FUNDRAISING EXPENSES 86,350. TOTAL EXPENSES 1,736,726. FORM 990, PART XI, LINE 9: TRANSFERRED CAPITAL 14,302,831. HCS 307 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 161653475 LOW-INC HOUSING TX 1018 3528 HCS HCS 308 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 841645342 LOW-INC HOUSING TX 666539 2129895 HCS HCS 312 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 900186769 LOW-INC HOUSING TX 743425 2055158 HCS HCS 313 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 205205336 LOW-INCOME HOUSING TX 596358 1941041 HCS HCS 314 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 300420535 LOW-INCOME HOUSING TX 1801790 6106044 HCS HCS 401 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 743182883 LOW-INCOME HOUSING TX 545000 1657941 HCS HCS 402 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 200436564 LOW-INCOME HOUSING TX 0 6734 HCS HCS 501 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 273305258 LOW-INCOME HOUSING TX 575034 2031240 HCS HCS 502 LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 78217 472442926 LOW-INCOME HOUSING TX 807029 3099248 HCS PHCS CUNNINGHAM MANOR LLC 3419 NACOGDOCHES ROAD SAN ANTONIO TX 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