2017-03-16T12:59:54-05:00 2016-06-30 042713795 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2015-07-01 237168031 OLDE HOLYOKE DEVELOPMENT CORPORATION OLDE 4135337101 70 LYMAN STREET HOLYOKE MA 01040 MICHAEL MORIARTY PRESIDENT 4135337101 2017-03-06 1 HOWARD L CHENEY P00381206 4135368510 2017-03-06 2015 2021-01-29 14:40:06Z ONEHOLYOKE CDC MICHAEL MORIARTY 70 LYMAN STREET HOLYOKE MA 01040 2940387 0 X OLDEHOLYOKE.ORG X 1972 MA TO HELP DEVELOP LOW AND MODERATE INCOME HOUSING AND ASSIST THE EXPANSION OF BUSINESS IN HOLYOKE, MA. 7 7 15 7 0 0 222858 435039 1797949 1899922 10942 12839 18160 592587 2049909 2940387 139525 163853 0 0 405607 426817 0 0 0 1695902 1797049 2241034 2387719 -191125 552668 5366017 5404682 449217 477428 4916800 4927254 TO FURTHER THE DEVELOPMENT OF LOW AND MODERATE INCOME HOUSING, TO ASSIST IN THE EXPANSION OF LOCALLY-OWNED BUSINESS ENTERPRISES AND TO PROVIDE OTHER ASSISTANCE FOR THE IMPROVEMENT OF RESIDENTIAL AND BUSINESS PROPERTY IN HOLYOKE, MASSACHUSETTS. 0 0 1656914 1905568 PROVIDED 247 RENTAL UNITS FOR RENT FOR LOW TO MODERATE INCOME INDIVIDUALS. APROXIMATELY 72 TENANTS RECEIVE SUBSIDIZED RENTAL ASSISTANCE FROM VARIOUS AGENCIES. 203638 163853 NIP GRANT PROGRAM - TO ASSIST HOMEOWNERS WITH HOME IMPROVEMENT PROJECTS TO IMPROVE THE OVERALL QUALITY OF LIFE IN THE CITY OF HOLYOKE. HOMEOWNERS PAID $203,638 OF THEIR OWN FUNDS TOWARD QUALIFIED HOME IMPROVEMENTS. GRANT FUNDS OF $163,853 WERE EXPENDED ON QUALIFIED HOME IMPROVEMENTS IN ADDITION TO THE HOMEOWNER CONTRIBUTIONS. THIS PROGRAM RESULTED IN $360,825 IN HOME REPAIRS TO 35 HOMEOWNERS IN HOLYOKE, MA. 334712 HOME INVESTMENT PARTNERSHIP PROGRAM - RECEIVED $17,925 GRANT FROM THE "HOME PROGRAM." THIS PROGRAM IS TO REHABILITATE SIX VACANT APARTMENTS. 2195264 1 1 0 0 0 0 0 0 1 0 1 0 0 1 0 1 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 0 0 1 0 1 0 1 52 0 1 15 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 MA X ANNA MARIE TEMKIN 4135337101 70 LYMAN STREET HOLYOKE MA 01040 RICHARD COURCHESNE CHAIRMAN OF THE BOARD (THRU 1/8/16) 2.00 X X 0 0 0 WALTER NALESNIK CLERK & CHAIRMAN 2.00 X X 0 0 0 MAURICE N LACASSE DIRECTOR 2.00 X 0 0 0 FR SEAN O'MANION DIRECTOR 2.00 X 0 0 0 DUANE CAMP DIRECTOR 2.00 X 0 0 0 ARMANDO SANTIAGO DIRECTOR & CLERK 2.00 X X 0 0 0 MARIA PAGAN DIRECTOR 2.00 X 0 0 0 LIBBY HERNANDEZ DIRECTOR 2.00 X 0 0 0 ANNA MARIE TEMKIN TREASURER 35.00 10.00 X 53042 12768 14881 MICHAEL MORIARTY PRESIDENT 35.00 10.00 X 68192 10000 20042 121234 22768 34923 0 0 0 0 RIVERSIDE DEVELOPMENT CORPORATION 70 LYMAN STREET HOLYOKE MA 01040 PURCHASED SERVICES 374376 1 408039 27000 435039 RENTAL INCOME 531110 1861499 1861499 LOW-INCOME HOUSING MGT 531110 37448 37448 INSPECTION FEES 531110 975 975 1899922 12839 12839 DEVELOPERS FEE 900099 574191 574191 PARTNERSHIP DISTRIBUTI 900099 12750 12750 AUTO 531110 5646 5646 592587 2940387 1905568 0 599780 X 163853 163853 133575 61960 71615 175630 175630 16004 12424 3580 73239 58322 14917 28369 18440 9929 18331 18256 75 30030 30030 120009 93779 26230 30537 20460 10077 45411 38145 7266 2171 1628 543 774 774 312452 301807 10645 9796 7739 2057 RENTAL EXPENSE-PURCHASE 303787 303787 RENTAL EXPENSE-MAINTENA 278088 278088 RENTAL EXPENSE-WATER & 206841 206841 RENTAL EXPENSE-REAL EST 153842 153842 284980 279489 5491 2387719 2195264 192455 0 248583 741798 1257448 944446 89240 164142 500986 339696 48351 35595 9546702 6865595 2944070 2681107 23966 23966 253373 473932 5366017 5404682 120800 64714 182881 193580 145536 219134 449217 477428 X 2339683 2533399 265384 386545 2311733 2007310 4916800 4927254 5366017 5404682 X 552668 -542214 X X 0 1 X 1 1 1 X 475017 139335 344812 222858 435039 1617061 475017 139335 344812 222858 435039 1617061 1617061 34338 16408 30947 29102 25589 136384 90 96 574191 574377 2327822 8343965 0.69470 0.90880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 119045 119045 8937066 6529776 2407290 490591 335819 154772 2681107 PROJECT COSTS 277237 TENANT SECURITY DEPOSITS 196695 473932 X 2714387 -226000 -226000 2940387 0 2940387 2387719 0 2387719 0 2387719 PART IV, LINE 2B: THE ORGANIZATION HOLDS REFUNDABLE TENANT SECURITY DEPOSITS. PART X, LINE 2: A TAX POSITION IS DEEMED TO INCLUDE SUCH THINGS AS THE ORGANIZATION'S TAX EXEMPT STATUS, UNRELATED BUSINESS INCOME AND THE METHODOLOGIES FOR ALLOCATING EXPENSES TO UNRELATED BUSINESS INCOME STREAMS. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR LOSS -226,000. 1 THE ORGANIZATION MONITORS THE USE OF ITS GRANT ASSISTANCE BY CONDUCTING INSPECTIONS OF ALL OF THE PROPERTIES FOR WHICH IT DISBURSES GRANT FUNDS IN ORDER TO VERIFY THAT THE WORK WAS DONE ACCORDING TO THE CONTRACTS. GRANTS TO LOW INCOME HOMEOWNERS FOR HOME REPAIRS 45 163853 PART I, LINE 2: INCOME ELIGIBILITY INFORMATION IS OBTAINED FROM EACH APPLICANT TO DETERMINE AMOUNT OF GRANT AVAILABLE TO EACH APPLICANT. THE GRANTS ARE FOR HOME IMPROVEMENTS MADE UNDER THE NEIGHBORHOOD IMPROVEMENT PROGAM. THE ORGANIZATION INSPECTS THE HOME TO ESTIMATE THE AMOUNT OF THE GRANT BEFORE IT IS DISBURSED AND INSPECTS THE COMPLETED IMPROVEMENT TO VERIFY THAT THE WORK MET THE GRANT CONDITIONS. RIVERSIDE DEVELOPMENT INC 501(C)(4) ORGANIZATION MORE THAN 35% CONTROLLED BY THIS BOARD 391863 PURCHASED SERVICES FROM RIVERSIDE DEVELOPMENT INC 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WILL BE REVIEWED BY THE TREASURER AND PRESIDENT AND A COPY WILL BE PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 18 THESE FORMS ARE AVAILABLE AT THE ORGANIZATION UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 24E RENTAL EXPENSE-INSURANCE: PROGRAM SERVICE EXPENSES 139,237. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 139,237. RENTAL EXPENSE-UTILITIES: PROGRAM SERVICE EXPENSES 51,571. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,571. RENTAL EXPENSE-PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 17,573. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,573. RENTAL EXPENSE-BAD DEBTS: PROGRAM SERVICE EXPENSES 13,919. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,919. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 9,554. MANAGEMENT AND GENERAL EXPENSES 2,389. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,943. RENTAL EXPENSE-CALL TIME: PROGRAM SERVICE EXPENSES 11,623. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,623. RENTAL EXPENSE-INTEREST: PROGRAM SERVICE EXPENSES 8,833. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,833. QUALITY OF LIFE EXPENDITURES: PROGRAM SERVICE EXPENSES 8,617. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,617. TELEPHONE: PROGRAM SERVICE EXPENSES 3,728. MANAGEMENT AND GENERAL EXPENSES 1,114. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,842. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 2,533. MANAGEMENT AND GENERAL EXPENSES 1,247. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,780. RENTAL EXPENSE-CREDIT CHECKS: PROGRAM SERVICE EXPENSES 3,643. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,643. RENTAL EXPENSE-LAUNDRY TOKENS: PROGRAM SERVICE EXPENSES 3,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,500. RENTAL EXPENSE-MISCELLANEOUS: PROGRAM SERVICE EXPENSES 2,560. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,560. POSTAGE: PROGRAM SERVICE EXPENSES 1,657. MANAGEMENT AND GENERAL EXPENSES 440. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,097. RENTAL EXPENSE-TELEPHONE: PROGRAM SERVICE EXPENSES 895. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 895. TAXES - OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 301. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 301. RENTAL EXPENSE-AMORTIZATION: PROGRAM SERVICE EXPENSES 46. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 46. FORM 990, PART XI, LINE 9: RECLAIMED FEDERAL FUNDS -316,214. PROVISION FOR LOSS -226,000. FORM 990, PART XII, 2C THERE ARE NO CHANGES DURING THIS TAX YEAR. RIVERSIDE DEVELOPMENT INC 70 LYMAN STREET HOLYOKE MA 01040 237320953 ECONOMIC DEVELOPMENT MA 501(C)4 0 ELMS INC 70 LYMAN STREET HOLYOKE MA 01040 222475565 LOW-INCOME HOUSING MA 501(C)3 509(A)2 0 0 0 0 1 1 0 0 0 0 1 0 0 1 1 1 1 1 0 0 RIVERSIDE DEVELOPMENT- PURCHASED SERVICES M 391863 PER GENERAL LEDGER THE ELMS INC D 220409 PER GENERAL LEDGER RIVERSIDE DEVELOPMENT- MEDICAL & DISABILITY INSURANCE Q 120214 PER GENERAL LEDGER THE ELMS INC-PURCHASED SERVICES PAYMENT FROM THE ELMS O 17435 PER GENERAL LEDGER RIVERSIDE DEVELOPMENT- AUTO LEASE J 5646 PER GENERAL LEDGER MANAGMENT FEES-THE ELMS P 37448 PER GENERAL LEDGER THE ELMS INC- PREPAID INSUR & SNOW REMOVAL Q 24380 PER GENERAL LEDGER THE ELMS INC- DEVELOPERS FEE Q 574191 AT CLOSING