2014-11-12T06:42:04-06:00 2013-12-31 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2013-01-01 311616634 PRESERVATION OF AFFORDABLE HOUSINGINC % LAURA VENNARD PRES 6172619898 40 COURT STREET SUITE 700 Suite BOSTON MA 02108 amy anthony president 6172619898 2014-09-15 true thomas lanning P00851654 6172619898 2013 2015-11-30 17:44:51Z 58247981 false X WWW.POAH.ORG X 1998 IL PRESERVATION OF AFFORDABLE HOUSING, INC. (POAH) WAS FORMED TO PRESERVE AND CREATE AFFORDABLE HOUSING FOR PERSONS IN NEED OF SUCH HOUSING. 8 7 450 0 1341107 4711174 52350204 51785793 1799884 1751014 0 0 55491195 58247981 0 0 0 0 736691 20676626 0 0 318281 3312817 6826248 4049508 27502874 51441687 30745107 116261312 151458164 20094094 21016131 96167218 130442033 POAH WAS FORMED TO PRESERVE AND CREATE AFFORDABLE HOUSING FOR PERSONS IN NEED OF SUCH HOUSING. false false 25393118 51785793 POAH is dedicated to the long term preservation, creation, ownership and operation of existing affordable housing properties. At December 31, 2013 POAH, or its related organizations owned and operated 8,584 units of decent, safe and affordable housing for low income persons and families. 25393118 true true false false false false false false false false true false true false true true false true false false false false false false false false false false false true false false false true false false false true true false false false true true true true false false true 48 0 true 450 true false false false false false false false false false false X 8 7 false false false false false false false true true false false true true true true true true true true true true IL MA X LAURA VENNARD 6172619898 40 COURT STREET BOSTON MA 02108 X REESE FAYDE DIRECTOR 1.0 X 6000 0 0 HERBERT MORSE DIRECTOR 2.0 X 6000 0 0 GEORGE LATIMER DIRECTOR, TERM ENDED 10/24/13 1.0 X 6000 0 0 MARK GOLDHABER DIRECTOR 1.0 X 7500 0 0 Amy Anthony PRESIDENT 40.0 X X 310020 0 16194 GEORGIA MURRAY director 2.0 X 6000 0 0 WILLIAM APGAR DIRECTOR 1.0 X 5500 0 0 ESTELLE RICHMAN DIRECTOR 1.0 X 3000 0 0 JARRETT BARRIOS DIRECTOR 1.0 X 2500 0 0 W Bart Lloyd MANAG. DIR. ACQ & GEN. COUNSEL 40.0 X 428524 0 29256 Laura vennard treasurer, manag. dir & cfo 40.0 X 432426 0 13366 ANDREW SPOFFORD SECRETARY 40.0 X 118589 0 0 LEE FELGAR president of PHM LLC 40.0 X 366512 0 25590 PATRICIA BELDEN MANAGING DIRECTOR & COO 40.0 X 479776 0 19385 RODGER BROWN MANAGING DIR., REAL ESTATE DEV 40.0 X 365618 0 18692 kathleen carpenter director of human resources 40.0 X 195760 0 17903 ALEXANDRA DAILEY SENIOR ASSET MANAGER 40.0 X 262388 0 11263 Jeanne Taylor CFO of PHM LLC 40.0 X 231308 0 16396 ROCHELLE BEEKS COO OF PHM LLC 40.0 X 313502 0 8666 WILLIAM EAGER VICE PRESIDENT, CHICAGO OFFICE 40.0 X 164835 0 24445 3711758 0 201156 12 false true false METROPOLITAN FAMILY SERVICES ONE N DEARBORN ST CHICAGO IL 60602 CONSULTING SERVICES 470573 COHNREZNICK LLP 7501 WISCONSIN AVE STE 400E BETHESDA MD 20814 ACCOUNTING SERVICES 100640 compushare inc 26859 NETWORK PLACE CHICAGO IL 60673 it support services 181047 3 X 1416462 3294712 3160000 4711174 DEVELOPMENT AND MANAGEMENT INCOME 531390 41174332 41174332 IN-KIND CONTRIBUTION INCOME 531390 28170 28170 STATE TAX CREDIT PROCEEDS 531390 10262926 10262926 LOSS ON FSA PLAN 531190 -4010 -4010 MISCELLANEOUS REVENUE 531190 320700 320700 3675 3675 51785793 1751014 1751014 0 0 0 0 0 0 0 0 0 0 58247981 51785793 1751014 0 0 0 0 3088775 2589334 408053 91388 0 15215365 14536941 542739 135685 205915 174887 24266 6762 602311 526032 59655 16624 1564260 1482572 65350 16338 0 155980 103852 52128 175490 175490 0 0 0 469436 268819 200617 62844 62844 428001 363508 50437 14056 413149 350894 48687 13568 0 588284 499639 69326 19319 441849 365240 76609 0 63756 57690 6066 1132924 1132924 0 83944 83944 60639 60639 MISCELLANEOUS EXP 102248 85655 12052 4541 FILING & REGISTRATION FEES 69169 69169 DEVELOPMENT EXPENSE 1077556 1077556 RESIDENT SERVICES 141204 141204 1359775 1359775 27502874 25393118 1791475 318281 X 723480 7984075 1774911 3125505 209596 528559 514386 11385014 0 0 0 0 82598664 101830398 0 0 10393 291068 567608 244178 32349 323430 0 0 0 0 25778483 20350924 57468 57079 4561582 5582112 116261312 151458164 223651 853498 0 0 0 867085 0 0 0 0 10454381 10088720 6731594 7263638 0 0 2684468 1943190 20094094 21016131 X 95981910 130323645 185308 118388 0 0 96167218 130442033 116261312 151458164 X 30745107 3529708 X false true X true true true X false false false 58297 200365 1145052 1341107 4711174 7455995 3728026 8355491 877366 52350204 44311317 109622404 0 0 0 3786323 8555856 2022418 53691311 49022491 117078399 0 0 0 117078399 772433 820101 1126304 1799884 1750964 6269686 0 772433 820101 1126304 1799884 1750964 6269686 0 0 4558756 9375957 3148722 55491195 50773455 123348085 0.94917 0.93934 0.05083 0.06066 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 436202 243733 192469 131306 445 130861 323330 POAH LLC INVESTMENT C INVESTMENT IN PARTNERSHIPS 19860543 C INVESTMENT IN HPIEX 490381 C 20350924 0 DUE TO RELATED ORGANIZATIONS 245036 ACCRUED INTEREST 111711 ACCRUED EXPENSES 1255739 OPERATING LOSS LOAN PAYABLE 181414 DEVELOPMENT COSTS PAYABLE 149290 1943190 X PART XI NO SEPARATE AUDIT, CONSOLIDATED AUDIT FILED. fin 48 The Company is exempt from federal income taxes under the provisions of the Internal Revenue Code Section 501(c)(3) and did not have any unrelated business income for the years ended December 31, 2013 and 2012. No provision or benefit for income taxes has been included in these financial statements for POAH LLC, PHM LLC, and the entities controlled by POAH or an affiliate since the limited liability company's net taxable profit or loss is passed through to the individual members. The Company is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Company has no other tax positions which must be considered for disclosure. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open. X false true X X X X X false false false false false false false true false Amy Anthony PRESIDENT 310020 0 0 0 0 0 11548 4646 326214 0 0 0 W Bart Lloyd MANAG. DIR. ACQ & GEN. COUNSEL 183088 0 245436 0 0 0 15317 13939 457780 0 0 0 Laura vennard treasurer, manag. dir & cfo 227686 0 204740 0 0 0 8720 4646 445792 0 0 0 kathleen carpenter director of human resources 102879 0 92881 0 0 0 3964 13939 213663 0 0 0 LEE FELGAR president of PHM LLC 246000 0 120512 0 0 0 14660 10930 392102 0 0 0 PATRICIA BELDEN MANAGING DIRECTOR & COO 234340 0 245436 0 0 0 5446 13939 499161 0 0 0 ALEXANDRA DAILEY SENIOR ASSET MANAGER 131223 0 131165 0 0 0 6617 4646 273651 0 0 0 RODGER BROWN MANAGING DIR., REAL ESTATE DEV 207103 0 158515 0 0 0 4753 13939 384310 0 0 0 Jeanne Taylor CFO of PHM LLC 170791 0 60517 0 0 0 9252 7144 247704 0 0 0 ROCHELLE BEEKS COO OF PHM LLC 189490 0 60512 0 63500 0 0 8666 322168 0 0 0 WILLIAM EAGER VICE PRESIDENT, CHICAGO OFFICE 137025 0 27810 0 0 0 6305 18140 189280 0 0 0 SCH J, PART I, LINE 1A A GROSS-UP PAYMENT FOR TUITION REIMBURSEMENT WAS PAID TO AN EMPLOYEE. SCH J, PART I, LINE 1A Discretionary bonuses are awarded and included on Part II Column B (ii). Housing inv incHI OWNED BY POAH PRESID purchase HII's int X 5419984 4727506 false true true Housing inv incHI OWNED BY POAH PRESID purchase HII's int X 2938279 2938279 false true true Housing inv incHI OWNED BY POAH PRESID purchase HII's int X 2422935 2422935 false true true 10088720 Housing investments inc hii wholly owned by Poah's pr 869213 PURCHASE OF POAH LLC INTEREST false part II original principal amount is the present value of the notes at the time of the purchase of HII's interest in POAH LLC attachment II POAH PURCHased housing investment inc's interest in POAH, LLC. the interest was independently valued and installment notes were issued by poah housing investment inc(see schedule L part II). the amount listed of $869,213 represents note payments made during 2013. X limited partnership interest 2 3160000 appraisal false false false part vi SECTION A QUESTION 3 Preservation of Affordable Housing Inc's Board of Directors sets policy for the organization, approves acquisitions, joint ventures, approves annual budgets and appoints officers of the organization. part vi section B question 11 APPROVAL OF THE 990 WAS ASSIGNED TO THE AUDIT COMMITTEE BY THE BOARD MEMBERS. the audit committee reviewed, discussed and approved the 990 for filing. A copy of the 990 prepared for filing was given to each board member prior to filing. part vi SECTION B QUESTION 12 BOARD MEMBERS, OFFICERS, AND STAFF ARE COVERED by A CONFLICT OF INTEREST POLICY. THE CHAIR AND PRESIDENT MONITOR TRANSACTIONS FOR POTENTIAL CONFLICTS AND EXPECT OTHERS ACTING ON BEHALF OF POAH TO DO THE SAME. ANY POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED BY THE BOARD, WHICH ENFORCES THE POLICY. THE BOARD VOTES ON ANY CONFLICTS AND ON THE ORGANIZATION'S MAJOR EXPENDITURES AFTER DISCUSSION, WITHOUT THE PARTICIPATION OF ANY CONFLICTED PARTY. part vi SECTION B QUESTION 15 COMPENSATION FIGURES FOR THE president AND KEY EMPLOYEES WERE PRESENTED TO A COMMITTEE OF THE BOARD FOR REVIEW AND APPROVAL. part vi SECTION C QUESTION 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 ADJUSTMENT DUE TO ELIMINATION OF INVESTMENTS IN POAH LLC AND PHM = 3,529,708. FORM 990, PART I, LINE 15 & PART VII, SECTION A IN 2013, RELATED ORGANIZATIONS POAH LLC AND PHM LLC ARE CONSIDERED DISREGARDED ENTITIES. SALARIES, COMPENSATION AND OTHER BENEFITS FOR CERTAIN EMPLOYEES PREVIOUSLY REPORTED AS PAID FROM A RELATED ORGANIZATION ARE NOW REPORTED AS PAID FROM POAH. part vi SECTION B QUESTION 14 POAH, the filing organization, has a written document retention and destruction policy. POAH's policy applies to Preservation of Affordable Housing, LLC, a disregarded entity. Preservation Housing Management LLC, a disregarded entity of POAH, abides by a document retention and destruction policy that has not been formally adopted but will be during 2014. 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