2016-08-12T16:07:47-05:00 2015-09-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2014-10-01 061019012 FEDERATION HOMES INC C/O VESTA MANAGEMENT CORPORATION FEDE 8603251700 175 POWDER FOREST DRIVE WEATOGUE CT 06089 JONATHAN REINER EXECUTIVE DIRECTOR 8602432535 2016-08-12 1 KIMBERLY NARDONE P01058771 9592007000 2014 2016-12-15 16:53:06Z JONATHAN REINER 156 WINTONBURY AVENUE BLOOMFIELD CT 06002 1672521 0 X N/A X 1978 CT THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR THE ELDERLY. 14 13 0 0 0 0 1311293 1270760 382922 401427 473 334 0 0 1694688 1672521 0 0 0 0 436290 406920 0 0 0 1339725 1414580 1776015 1821500 -81327 -148979 3361697 3279679 5209946 5276907 -1848249 -1997228 X THE GOAL OF FEDERATION HOMES IS TO PROVIDE A SAFE, SECURE HOME WITH SUPPORTIVE STAFF; TO PROMOTE INDEPENDENCE; AND TO OFFER A DIVERSIFIED EDUCATIONAL, CULTURAL, AND SOCIAL CALENDAR OF ACTIVITIES AND PROGRAMS TO ENHANCE QUALITY OF LIFE FOR OUR RESIDENTS. OUR MISSION IS TO SUPPORT OUR RESIDENTS' DESIRE TO REMAIN IN THE COMMUNITY FOR AS LONG AS POSSIBLE. 0 0 1724212 401427 RENTAL OF HOUSING FACILITIES TO ELDERLY & HANDICAPPED PERSONS ON A NON-PROFIT BASIS. 1724212 1 1 0 0 0 0 0 0 1 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 0 0 0 0 1 20 0 1 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 0 CT X VESTA MANAGEMENT 8603251700 175 POWDER FOREST DRIVE WEATOGUE CT 06089 ALEC BOBROW CHAIRMAN 1.00 X X 0 0 0 BEN J KINIRY DIRECTOR 1.00 X 0 0 0 BRENDA P DELGADO DIRECTOR 1.00 X 0 0 0 CARL MANDELL 1ST VICE PRESIDENT 1.00 X X 0 0 0 DAVID GINDEN DIRECTOR 1.00 X 0 0 0 DAVID N SASPORTAS PRESIDENT 1.00 X X 0 0 0 HOWARD FRYDMAN DIRECTOR 1.00 X 0 0 0 JONATHAN REINER SECRETARY 40.00 X X 101578 0 9716 LUCY ANNE HURSTON DIRECTOR 1.00 X 0 0 0 MAURICE JENNINGS DIRECTOR 1.00 X 0 0 0 PATRICIA WILLIAMS DIRECTOR 1.00 X 0 0 0 RUTHAN WEIN 2ND VICE PRESIDENT 1.00 X X 0 0 0 STANLEY COHEN DIRECTOR 1.00 X 0 0 0 WILLIAM MANDELBAUM DIRECTOR 1.00 X 0 0 0 101578 0 9716 1 0 0 0 0 1270155 605 1270760 RENTAL INCOME 531110 401427 401427 401427 334 334 1672521 401427 0 334 114441 114441 212336 212336 4317 4317 49112 49112 26714 26714 97288 97288 1505 1505 12500 12500 25051 25051 92007 92007 408882 408882 283232 283232 278483 278483 REPAIRS & MAINTENANCE 145584 145584 SNOW REMOVAL 32359 32359 RUBBISH REMOVAL 16640 16640 SECURITY SYSTEM EXPENSE 11053 11053 9996 9996 1821500 1724212 97288 0 184454 144769 26161 28443 22829 18850 7910884 5497779 2440829 2413105 0 687424 674512 3361697 3279679 111711 256219 5057458 4974573 40777 46115 5209946 5276907 X -1848249 -1997228 -1848249 -1997228 3361697 3279679 -148979 0 X X 0 1 X 1 1 1 X 1071477 1265000 1266826 1311293 1270760 6185356 1071477 1265000 1266826 1311293 1270760 6185356 6185356 1298 598 525 473 334 3228 47960 47960 6236544 2086250 0.99180 0.99930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FORGIVENESS OF DEBT - 2012 AMOUNT: $ 47,960. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 34600 2289 36889 1 X 200127 200127 7710757 5497779 2212978 2413105 MORTGAGE ESCROW DEPOSIT 146140 RESERVE FOR REPLACEMENT & RESIDUAL RECEIPTS 405177 TENANT SECURITY DEPOSIT 36894 FINANCING COSTS 86301 674512 RESIDENT SECURITY DEPOSIT 36889 PREPAID REVENUE 9226 46115 X 1690215 17694 17694 1672521 0 1672521 1839194 17694 17694 1821500 0 1821500 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FOR RENTED UNITS PART X, LINE 2: THE CORPORATION HAS NO UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2015. THE ORGANIZATION'S FEDERAL INCOME TAX RETURNS PRIOR TO FISCAL YEAR 2011 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF APPLICABLE, THE CORPORATION WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH TAX MATTERS AS PART OF TAXES AND INSURANCE EXPENSES IN THE STATEMENT OF ACTIVITIES AND INCLUDE ACCRUED INTEREST AND PENALTIES IN ACCRUED EXPENSES IN THE STATEMENT OF FINANCIAL POSITION. THE CORPORATION DID NOT RECOGNIZE ANY INTEREST OR PENALTIES ASSOCIATED WITH TAX MATTERS FOR THE YEAR ENDED SEPTEMBER 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT REFLECTED IN TOTAL REVENUES PER AUDIT 17,694. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT REFLECTED IN TOTAL REVENUES & TOTAL EXPENSES PER AUDIT 17,694. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION ENGAGES A REAL ESTATE PROPERTY MANAGEMENT COMPANY TO MANAGE THE PHYSICAL PROPERTY AND TO PERFORM BOOKKEEPING SERVICES. ADDITIONALLY THE BOARD HIRES AN EXECUTIVE DIRECTOR INDEPENDENT OF THE MANAGEMENT COMPANY WHO ALONG WITH HER STAFF (ALSO INDEPENDENT OF THE MANAGEMENT COMPANY), SUPERVISES THE DAY TO DAY OPERATIONS OF THE SITE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY BOTH THE MANAGEMENT AGENT AND THE EXECUTIVE DIRECTOR AND THE 1ST VICE PRESIDENT/CHAIR OF THE FINANCE COMMITTEE PRIOR TO FILING. ADDITIONALLY A COPY IS DISTRIBUTED TO ALL MEMBERS OF THE EXECUTIVE AND FINANCE COMMITTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15B THE RESPONSIBILITIES OF THE TOP FINANCIAL MANAGER ARE ACCOMPLISHED THROUGH THE ENGAGEMENT OF A PROPERTY MANAGEMENT AGENT WHOSE FEE MUST BE APPROVED BY THE US DEPT OF HUD. THE SALARY OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND EXECUTIVE COMMITTEE ANNUALLY AS PART OF THE BUDGETTING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS AVAILABLE ON GUIDESTAR. FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE AUDIT, THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS