2016-03-09T10:38:29-06:00 2015-06-30 042713795 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2014-07-01 237168031 OLDE HOLYOKE DEVELOPMENT CORPORATION OLDE 4135337101 70 LYMAN STREET HOLYOKE MA 01040 MICHAEL MORIARTY PRESIDENT 4135337101 2016-02-26 1 HOWARD L CHENEY P00381206 4135368510 2016-02-26 2014 2016-08-17 19:52:53Z MICHAEL MORIARTY 70 LYMAN STREET HOLYOKE MA 01040 2049909 0 X OLDEHOLYOKE.ORG X 1972 MA TO HELP DEVELOP LOW AND MODERATE INCOME HOUSING AND ASSIST THE EXPANSION OF BUSINESS IN HOLYOKE, MA. 8 8 11 0 0 0 344812 222858 1731303 1797949 14947 10942 16090 18160 2107152 2049909 135565 139525 0 0 398834 405607 0 0 10000 1620179 1695902 2154578 2241034 -47426 -191125 5500684 5366017 392759 449217 5107925 4916800 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 1478081 1816109 PROVIDED 247 RENTAL UNITS FOR RENT FOR LOW TO MODERATE INCOME INDIVIDUALS. APROXIMATELY 72 TENANTS RECEIVE SUBSIDIZED RENTAL ASSISTANCE FROM VARIOUS AGENCIES. 139864 139525 NIP GRANT PROGRAM - TO ASSIST HOMEOWNERS WITH HOME IMPROVEMENT PROJECTS TO IMPROVE THE OVERALL QUALITY OF LIFE IN THE CITY OF HOLYOKE. HOMEOWNERS PAID $195,261 OF THEIR OWN FUNDS TOWARD QUALIFIED HOME IMPROVEMENTS. GRANT FUNDS OF $139,525 WERE EXPENDED ON QUALIFIED HOME IMPROVEMENTS IN ADDITION TO THE HOMEOWNER CONTRIBUTIONS. THIS PROGRAM RESULTED IN $334,786 IN HOME REPAIRS TO 35 HOMEOWNERS IN HOLYOKE, MA. 418973 HOME INVESTMENT PARTNERSHIP PROGRAM - RECEIVED $19,977 GRANT FROM THE "HOME PROGRAM." THIS PROGRAM PROVIDED NEW AFFORDABLE HOUSING OWNERSHIP FOR LOW-INCOME PERSONS. ONE TWO-FAMILY DUPLEX HOME WAS CONSTRUCTED AND AVAILABLE FOR SALE AS OF 6/30/2015. 2036918 1 1 0 0 0 0 0 0 1 0 1 0 0 0 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 45 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 8 8 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 2.00 X X 0 0 0 WALTER NALESNIK CLERK & DIRECTOR 2.00 X X 0 0 0 MAURICE N LACASSE DIRECTOR 2.00 X 0 0 0 RAYMOND P MURPHY JR DIRECTOR(THRU 12/31/14) 2.00 X 0 0 0 FR SEAN O'MANION DIRECTOR 2.00 X 0 0 0 WILLIAM EGAN DIRECTOR(THRU 1/1/15) 2.00 X 0 0 0 DUANE CAMP DIRECTOR 2.00 X 0 0 0 MARC COURNOYER DIRECTOR(THRU 1/1/15) 2.00 X 0 0 0 ARMANDO SANTIAGO DIRECTOR 2.00 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 53074 12768 14920 MICHAEL MORIARTY PRESIDENT 35.00 10.00 X 68492 10000 19897 121566 22768 34817 0 0 0 0 RIVERSIDE DEVELOPMENT CORPORATION 70 LYMAN STREET HOLYOKE MA 01040 PURCHASED SERVICES 372403 1 211908 10950 222858 RENTAL INCOME 531110 1752887 1752887 LOW-INCOME HOUSING MGT 531110 40862 40862 INSPECTION FEES 531110 4200 4200 1797949 10942 10942 PARTNERSHIP DISTRIBUTI 900099 14300 14300 AUTO LEASE INCOME 900099 3764 3764 MISCELLANEOUS INCOME 900099 96 96 18160 2049909 1797949 0 29102 X 139525 139525 131055 60791 70264 175611 175611 14169 10656 3513 61911 47416 14495 22861 14860 8001 12080 5610 6470 26500 26500 29104 29104 24 24 27243 18253 8990 1139 1139 52133 43792 8341 2396 1797 599 832 832 332591 324419 8172 8402 6638 1764 RENTAL EXPENSE-MAINTENA 318862 318862 RENTAL EXPENSE-PURCHASE 268154 268154 RENTAL EXPENSE-WATER & 206127 206127 RENTAL EXPENSE-REAL EST 137677 137677 272638 254735 7903 10000 2241034 2036918 194116 10000 223753 248583 1217805 1257448 109950 89240 505646 500986 45451 48351 9497215 6553145 3082861 2944070 23966 23966 291252 253373 5500684 5366017 116791 120800 167572 182881 108396 145536 392759 449217 X 2414236 2339683 395243 265384 2298446 2311733 5107925 4916800 5500684 5366017 -191125 0 X X 0 1 X 1 1 1 X 465860 475017 139335 344812 222858 1647882 465860 475017 139335 344812 222858 1647882 1647882 54318 34338 16408 30947 29102 165113 90 96 186 1813181 7420886 0.90880 0.91510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 119045 119045 8907665 6259974 2647691 470505 293171 177334 2944070 X 2049909 0 2049909 0 2049909 2241034 0 2241034 0 2241034 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 ORGANIZATIONS 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 ORGANIZATIONS TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2012. 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 35 139525 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 372403 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 133,039. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 133,039. RENTAL EXPENSE-UTILITIES: PROGRAM SERVICE EXPENSES 57,969. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,969. QUALITY OF LIFE EXPENDITURES: PROGRAM SERVICE EXPENSES 10,727. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 10,000. TOTAL EXPENSES 20,727. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 9,180. MANAGEMENT AND GENERAL EXPENSES 4,522. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,702. RENTAL EXPENSE-PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 11,954. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,954. RENTAL EXPENSE-CALL TIME: PROGRAM SERVICE EXPENSES 8,724. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,724. TELEPHONE: PROGRAM SERVICE EXPENSES 6,116. MANAGEMENT AND GENERAL EXPENSES 1,827. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,943. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 4,390. MANAGEMENT AND GENERAL EXPENSES 1,098. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,488. RENTAL EXPENSE-CREDIT CHECKS: PROGRAM SERVICE EXPENSES 3,570. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,570. RENTAL EXPENSE-LAUNDRY TOKENS: PROGRAM SERVICE EXPENSES 2,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,500. RENTAL EXPENSE-INTEREST: PROGRAM SERVICE EXPENSES 2,143. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,143. RENTAL EXPENSE-BAD DEBTS: PROGRAM SERVICE EXPENSES 1,977. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,977. POSTAGE: PROGRAM SERVICE EXPENSES 1,480. MANAGEMENT AND GENERAL EXPENSES 394. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,874. RENTAL EXPENSE-MISCELLANEOUS: PROGRAM SERVICE EXPENSES 750. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 750. RENTAL EXPENSE-TELEPHONE: PROGRAM SERVICE EXPENSES 166. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 166. TAXES - OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 62. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 62. RENTAL EXPENSE-AMORTIZATION: PROGRAM SERVICE EXPENSES 50. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50. 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 372403 PER GENERAL LEDGER THE ELMS INC D 144948 PER GENERAL LEDGER RIVERSIDE DEVELOPMENT- MEDICAL & DISABILITY INSURANCE Q 104749 PER GENERAL LEDGER THE ELMS INC-PURCHASED SERVICES PAYMENT FROM THE ELMS O 15535 PER GENERAL LEDGER RIVERSIDE DEVELOPMENT- AUTO LEASE J 3764 PER GENERAL LEDGER MANAGMENT FEES-THE ELMS P 40862 PER GENERAL LEDGER SHORT-TERM LOAN FROM RIVERSIDE DEVELOPMENT E 27493 PER GENERAL LEDGER