2017-07-20T08:38:32-05:00 2016-12-31 221478099 COHNREZNICK LLP 525 North Tryon Street Charlotte NC 28202 990 2016-01-01 680378673 COUNTRYWOOD HOUSING CORPORATION F/K/A KENNETH ARMS HOUSING CORPORATION COUN 3038303300 1999 BROADWAY SUITE 1000 Denver CO 80202 FRED LOHSE president 3038303300 2017-07-20 1 Kathy Blackburn P00450629 7043329100 209.3.217.20 2017-07-20 08:38:30 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 02742A3965BAE00DF0D5D8E6355CD1B7CC16F4D9 2016 2021-01-29 14:40:06Z FRED LOHSE 1999 BROADWAY SUITE 1000 Denver CO 80202 487766 0 X WWW.MERCYHOUSING.ORG X 1996 CA TO CONSTRUCT, OPERATE, MAINTAIN, OR LEASE ANY REAL ESTATE AND PERSONAL PROPERTY NECESSARY AND INCIDENT TO THE PROVISION OF HOUSING FOR LOWER INCOME HOUSEHOLDS. 1 1 0 0 0 0 0 0 482359 487757 8 9 0 0 482367 487766 0 0 0 0 28646 53231 0 0 0 445301 504703 473947 557934 8420 -70168 1806153 1707649 1814731 1786395 -8578 -78746 TO CONSTRUCT, OPERATE, MAINTAIN, OR LEASE ANY REAL ESTATE AND PERSONAL PROPERTY NECESSARY AND INCIDENT TO THE PROVISION OF HOUSING FOR LOWER INCOME HOUSEHOLDS. 0 0 396036 487757 COUNTRYWOOD HOUSING CORPORATION WAS ORGANIZED ON FEBRUARY 21, 1996AS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION FOR THEPURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECTUNDER SECTION 542(C) OF THE HOUSING AND COMMUNITY DEVELOPMENT ACTOF 1992 (THE RISK-SHARING PROGRAM). SUCH PROJECTS ARE REGULATEDBY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENTCHARGES AND OPERATING METHODS. THE CALIFORNIA HOUSING FINANCEAGENCY OVERSEES ADHERENCE TO HUD REGULATIONS THROUGH THERISK-SHARING PROGRAM. THE PROJECT WAS PURCHASED IN DECEMBER 2002,CONSISTS OF 65 UNITS, AND IS CURRENTLY OPERATING UNDER THE NAME OFCOUNTRYWOOD APARTMENTS LOCATED IN LINDA, CALIFORNIA. 396036 1 0 0 0 0 0 0 0 0 0 1 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 0 1 0 0 0 1 12 0 0 0 0 0 0 0 0 0 0 0 0 X 1 1 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X STEVE SPEARS 3038303300 1999 BROADWAY SUITE 1000 DENVER CO 80202 X FRED LOHSE PRESIDENT/DIRECTOR 1.00 X X 0 0 0 vince dodds cheif financial officer 1.00 X 0 0 0 JENNIFER DOLIN SECRETARY 1.00 X 0 0 0 0 0 0 0 0 0 0 0 RENTAL REVENUE 531110 479663 479663 OTHER INCOME 531110 8094 8094 487757 9 9 487766 487757 0 9 53231 53231 32760 32760 3819 3819 14830 14830 155 155 12479 12479 4372 4372 18452 18452 110831 110831 43636 43636 OPERATING & MAINTENANCE 155653 155653 UTILITIES 58275 58275 ASSET MANAGEMENT FEE 13000 13000 BAD DEBT EXPENSE 12722 12722 23719 9189 14530 557934 396036 161898 0 98135 79031 13298 28916 18755 19775 2970153 1506427 1567607 1463726 13961 94397 116201 1806153 1707649 148112 166076 5184 7260 1647036 1599970 14399 13089 1814731 1786395 X -8578 -78746 -8578 -78746 1806153 1707649 -70168 0 X X 0 1 X 1 1 1 X X 1 RURAL CALIFORNIA HOUSING CORPORATION 941679545 10 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 64683 64683 2792162 1393119 1399043 2349 2349 0 110959 110959 0 1463726 TENANT DEPOSITS 13512 ESCROW DEPOSITS 14298 RESERVE FOR REPLACEMENTS 88391 116201 RESIDENT SECURITY DEPOSITS 13089 13089 X 487766 0 487766 0 487766 557934 0 557934 0 557934 Part X, Line 2: The Corporation has elected tax exempt status under Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the years ended December 31, 2016 and 2015. 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 Internal Revenue Service 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 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 2013 remain open. Form 990, Part VI, Section A, line 6 Rural California Housing Corporation, a California nonprofit corporation, is the sole member and is exempt from federal income tax as an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986. Form 990, Part VI, Section A, line 7a The Board of Directors of Rural California Housing Corporation, as sole member of COUNTRYWOOD HOUSING CORPORATION, has authority over COUNTRYWOOD HOUSING CORPORATION in various aspects of operations and management. The reserved rights held by the Rural California Housing Corporation of Directors, which may be further delegated to the Executive Director of Rural California Housing Corporation, include approval of the following activities: revisions to articles and bylaws; mergers and acquisitions; establishment of new entities; pledging, mortgaging or disposing of all or substantially all assets; obligations of new operating and mortgage debt; and, appointment or removal of governing board members and officers. Form 990, Part VI, Section A, line 7b SAME AS LINE 7A EXPLANATION. Form 990, Part VI, Section B, line 11b Form 990 is submitted to all board members prior to submission, along with request for comments. A formal meeting by phone with the board chair and available officers is held to review form 990 prior to submission. Comments and quesions are addressed prior to the form 990 being filed. If no comments are received the form 990 is filed. Consent of the form 990 by all board members is given at the September board meeting. Form 990, Part VI, Section B, line 12c The Board of Directors of Rural California Housing Corporation reviews ANNUALLY the Conflict of Interest disclosures and determines whether any action is required. Form 990, Part VI, Section B, line 15 Periodically Rural California Housing Corporation Board of Directors will review executive salaries to ensure competitiveness with external markets and for internal equity in relation to general employee wages and benefits, individual and organizational performance, and the financial resources of the Organization. Form 990, Part VI, Section C, line 19 Governing documents, conflict of interest policy and financial statements are made available to the public upon request. PART XII lin 2c RESPONSIBILITY FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND OVERSIGHT OF THE ANNUAL AUDIT IS RESERVED BY THE RURAL CALIFORNIA HOUSING CORPORATION BOARD OF DIRECTORS. RURAL CALIFORNIA HOUSING CORPORATION, IS THE SOLE MEMBER OF COUNTRYWOOD HOUSING CORPORATION. PART XII lin 2b THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. CORNERSTONE FOLSOM GARDENS CORP I 613 STAFFORD ST FOLSOM CA 95630 680340842 low-inc hsng CA 501 (c) (3) N/A 0 CORNERSTONE FOLSOM GARDENS CORP II 713 STAFFORD ST FOLSOM CA 95630 680340843 low-inc hsng CA 501 (c) (3) N/A 0 CREATIVE ALTERNATIVES SENIOR CITIZENS OP 276 CALIFORNIA ST SAN ANDREAS CA 95249 770030850 low-inc hsng CA 501 (c) (3) N/A 0 DIAMOND SUNRISE CORP 4015 PANTHER LANE DIAMOND SPRINGS CA 95619 942747276 low-inc hsng CA 501 (c) (3) N/A 0 DIAMOND SUNRISE CORP II 4015 PANTHER LANE DIAMOND SPRINGS CA 95619 low-inc hsng CA 501 (c) (3) N/A 0 HISTORIC LIVE OAK ASSOCIATES 3120 FREEBOARD DR SUITE 202 WEST SACRAMENTO CA 95691 943299035 low-inc hsng CA 501 (c) (3) N/A 0 LANCE HOUSING CORP 4828 EL CAMINO AVE CARMICHAEL CA 95608 680374003 low-inc hsng CA 501 (c) (3) N/A 0 LAND PARK WOODS INC 3120 FREEBOARD DR SUITE 202 WEST SACRAMENTO CA 95691 low-inc hsng CA 501 (c) (3) N/A 0 NORTHERN CALIFORNIA HOUSING CORP 3120 FREEBOARD DR SUITE 202 WEST SACRAMENTO CA 95691 low-inc hsng CA 501 (c) (3) N/A 0 TRUCKEE RIVERVIEW HOUSING ASSOCIATES 11230 VILLAGE WAY TRUCKEE CA 96161 943300833 low-inc hsng CA 501 (c) (3) N/A 0 WHEATLAND DUPLEXES CORP 5903 LOWE AVE MARYSVILLE CA 95901 680292259 low-inc hsng CA 501 (c) (3) N/A 0 WHEATLAND DUPLEXES ASSOCIATES 512 SPRUCE AVE SUITE A WHEATLAND CA 95692 low-inc hsng CA N/A RELATED 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0