2014-02-13T11:53:33-06:00 2013-06-30 042685667 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2012-07-01 237168031 OLDE HOLYOKE DEVELOPMENT CORPORATION OLDE 4135337101 70 LYMAN STREET HOLYOKE MA 01040 MICHAEL MORIARTY 4135337101 2014-02-10 1 HOWARD L CHENEY P00381206 4135368510 2014-02-10 2012 2015-11-30 17:44:51Z MICHAEL MORIARTY 70 LYMAN STREET HOLYOKE MA 01040 1376357 0 X N/A X 1972 MA TO HELP DEVELOP LOW AND MODERATE INCOME HOUSING AND ASSIST THE EXPANSION OF BUSINESS IN HOLYOKE, MA. 6 5 6 5 0 0 475017 139335 1280239 1220614 34338 16408 0 0 1789594 1376357 175558 101240 0 0 393066 411323 0 0 0 1121845 1744440 1690469 2257003 99125 -880646 6198654 5653170 275657 285819 5922997 5367351 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 1377884 1606345 PROVIDED 237 RENTAL UNITS FOR RENT FOR LOW TO MODERATE INCOME INDIVIDUALS. APROXIMATELY 70 TENANTS RECEIVE SUBSIDIZED RENTAL ASSISTANCE FROM VARIOUS AGENCIES. 101240 101240 NIP GRANT PROGRAM - TO ASSIST HOMEOWNERS WITH HOME IMPROVEMENT PROJECTS TO IMPROVE THE OVERALL QUALITY OF LIFE IN THE CITY OF HOLYOKE. HOMEOWNERS PAID $140,133 OF THEIR OWN FUNDS TOWARD QUALIFIED HOME IMPROVEMENTS. GRANT FUNDS OF $101,240 WERE EXPENDED ON QUALIFIED HOME IMPROVEMENTS IN ADDITION TO THE HOMEOWNER CONTRIBUTIONS. THIS PROGRAM RESULTED IN $241,373 IN HOME REPAIRS TO 36 HOMEOWNERS IN HOLYOKE, MA. 565332 -399864 HOME INVESTMENT PARTNERSHIP PROGRAM - RECEIVED NO GRANT FUNDS FROM THE "HOME PROGRAM". THIS PROGRAM PROVIDED NEW AFFORDABLE HOUSING OWNERSHIP FOR LOW-INCOME PERSONS. ONE TWO-FAMILY DUPLEX HOME WAS CONSTRUCTED ALONG WITH ONE CONDO CONVERSION UNIT SOLD TO LOW-INCOME RESIDENTS OF THE CITY OF HOLYOKE FOR THIS FISCAL YEAR ENDED 6/30/13. 2044456 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 35 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 1 1 MA X ANNA MARIE TEMKIN 4135337101 70 LYMAN STREET HOLYOKE MA 01040 RICHARD COURCHESNETHROUGH 61213 35.00 10.00 X X 87103 17638 16008 REV JAMES AHERNMS THROUGH 61213 1.00 0.00 X 0 0 0 WALTER NALESNIK 1.00 0.00 X 0 0 0 MAURICE N LACASSE 1.00 X 0 0 0 RAYMOND P MURPHY JR 1.00 X 0 0 0 DARYL D GEOFFREY 1.00 X 0 0 0 MARC COURNOYER THROUGH 61213 1.00 X 0 0 0 MICHAEL MORIARTY61213-PRESENT 35.00 10.00 X X 0 0 0 RYAN ROONEY61213-PRESENT 1.00 X 0 0 0 WILLIAM EGAN61213-PRESENT 1.00 X 0 0 0 ANNA MARIE TEMKIN 35.00 10.00 X 47410 11891 14128 134513 29529 30136 0 0 0 0 RIVERSIDE DEVELOPMENT CORPORATION 70 LYMAN STREET HOLYOKE MA 01040 PURCHASED SERVICES 255440 COTE CONSTRUCTION 30 WOOD AVENUE EAST LONGMEADOW MA 01028 CONSTRUCTION 181824 2 139335 139335 RENTAL INCOME 531110 1571168 1571168 LOW-INCOME HOUSING MGT 531110 34152 34152 LAUNDRY TOKENS 531110 14133 14133 INSPECTION FEES 531110 1025 1025 HOME PROGRAM SALES 531390 -399864 -399864 1220614 16408 16408 1376357 1206481 0 30541 X 101240 101240 147778 36944 110834 171233 171233 15699 8312 7387 51844 28829 23015 24769 12385 12384 6421 6421 24950 24950 741 741 268 268 14770 9896 4874 46773 39597 7176 14028 10521 3507 1047 1047 314887 312345 2542 13262 10477 2785 RENTAL EXPENSE-PURCHASE 255440 255440 OFFICE OF COMMUNITY DEV 225000 225000 RENTAL EXPENSE-MAINTENA 216320 216320 RENTAL EXPENSE-WATER & 202272 202272 408261 401589 6672 2257003 2044456 212547 0 308720 320359 1602869 1212713 39329 39098 532724 511822 34775 44915 9257813 5932431 3289627 3325382 23966 23966 366644 174915 6198654 5653170 74506 76776 141654 166833 59497 42210 275657 285819 X 2702669 2614897 466704 468009 2753624 2284445 5922997 5367351 6198654 5653170 X -880646 325000 X X 0 1 X 1 0 X 913301 671931 465860 475017 139335 2665444 913301 671931 465860 475017 139335 2665444 2665444 66653 58324 54318 34338 16408 230041 2895485 5660587 0.92060 0.90660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 119045 119045 8680011 5657420 3022591 414842 231096 183746 43915 43915 0 3325382 X 1703357 0 1703357 -327000 -327000 1376357 2259003 2000 2000 2257003 0 2257003 PART IV, LINE 2B: THE ORGANIZATION HOLDS REFUNDABLE TENANT SECURITY DEPOSITS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2010. PART XI, LINE 4B - OTHER ADJUSTMENTS: REVERSAL OF LOSS RESERVES FOR PROPERTY SOLD -327,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR LOSS ON FUTURE SALE OF DUPLEX 2,000. 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 35 101240 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 IMPROVEMENT BEFORE THE GRANT IS DISBURSED TO THE GRANTEE. RIVERSIDE DEVELOPMENT INC 501(C)(4) ORGANIZATION MORE THAN 35% CONTROLLED BY THIS BOARD 255440 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, LINE 15: THE ORGANIZATION HAS HAD VERY LITTLE TURNOVER IN ITS TOP MANAGEMENT POSITIONS IN OVER 10 YEARS. THEY USE HOLYOKE HOUSING AUTHORITY'S RATES FOR RAISES. 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 ALL OTHER FUNCTIONAL EXPENSES FORM 990, PART IX, LINE 24E RENTAL EXPENSE-REAL ESTATE TAXES: PROGRAM SERVICE EXPENSES 129,359. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 129,359. RENTAL EXPENSE-INSURANCE: PROGRAM SERVICE EXPENSES 107,187. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 107,187. RENTAL EXPENSE-UTILITIES: PROGRAM SERVICE EXPENSES 51,324. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,324. RENTAL EXPENSE-EXTERMINATING: PROGRAM SERVICE EXPENSES 38,909. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,909. RENTAL EXPENSE-BAD DEBTS: PROGRAM SERVICE EXPENSES 26,093. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,093. RENTAL EXPENSE-SNOW REMOVAL: PROGRAM SERVICE EXPENSES 16,032. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,032. TELEPHONE: PROGRAM SERVICE EXPENSES 5,742. MANAGEMENT AND GENERAL EXPENSES 1,715. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,457. RENTAL EXPENSE-CALL TIME: PROGRAM SERVICE EXPENSES 5,420. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,420. RENTAL EXPENSE-CONSULTANTS: PROGRAM SERVICE EXPENSES 4,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,000. RENTAL EXPENSE-INTEREST: PROGRAM SERVICE EXPENSES 3,908. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,908. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 655. MANAGEMENT AND GENERAL EXPENSES 3,196. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,851. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 3,028. MANAGEMENT AND GENERAL EXPENSES 757. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,785. RENTAL EXPENSE-LAUNDRY TOKENS: PROGRAM SERVICE EXPENSES 3,564. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,564. RENTAL EXPENSE-CREDIT CHECKS: PROGRAM SERVICE EXPENSES 2,480. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,480. RENTAL EXPENSE-PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 2,375. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,375. POSTAGE: PROGRAM SERVICE EXPENSES 1,463. MANAGEMENT AND GENERAL EXPENSES 389. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,852. TAXES - OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 515. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 515. BAD DEBTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 100. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 100. RENTAL EXPENSE-AMORTIZATION: PROGRAM SERVICE EXPENSES 50. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: PROVISION FOR LOSS ON HOUSING UNITS UP FOR SALE -2,000. PRIOR LOSS RESERVES REVERSED ON SALE 327,000. FORM 990, PART XII, 2C THERE ARE NO CHANGES DURING THIS TAX YEAR. RIVERSIDE DEVELOPMENT INC 70 LYMAN STREET HOLYOKE MA 01040 237320953 PURCHASED SERVICES 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 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 RIVERSIDE DEVELOPMENT- PURCHASED SERVICES M 255440