2013-02-15T08:36:07-06:00 2012-06-30 042685667 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2011-07-01 237168031 OLDE HOLYOKE DEVELOPMENT CORPORATION OLDE 4135337101 70 LYMAN STREET HOLYOKE MA 01040 RICHARD COURCHESNE 4135337101 2013-01-21 1 HOWARD L CHENEY P00381206 4135368510 2013-01-21 2011 2016-03-07 17:11:31Z RICHARD COURCHESNE 70 LYMAN STREET HOLYOKE MA 01040 1789594 0 X N/A X 1972 MA TO HELP DEVELOP LOW AND MODERATE INCOME HOUSING AND ASSIST THE EXPANSION OF BUSINESS IN HOLYOKE, MA. 9 7 6 7 0 0 465860 475017 953544 1280239 62832 34338 0 0 1482236 1789594 164415 175558 0 0 389175 393066 0 0 0 1054453 1121845 1608043 1690469 -125807 99125 5322902 6198654 165448 275657 5157454 5922997 X 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. 1 0 804660 1272577 PROVIDED 236 RENTAL UNITS FOR RENT FOR LOW TO MODERATE INCOME INDIVIDUALS. APROXIMATELY 71 TENANTS RECEIVE SUBSIDIZED RENTAL ASSISTANCE FROM VARIOUS AGENCIES. 243189 175558 NIP GRANT PROGRAM - TO ASSIST HOMEOWNERS WITH HOME IMPROVEMENT PROJECTS TO IMPROVE THE OVERALL QUALITY OF LIFE IN THE CITY OF HOLYOKE. HOMEOWNERS PAID $225,080 OF THEIR OWN FUNDS TOWARD QUALIFIED HOME IMPROVEMENTS. GRANT FUNDS OF $175,558 WERE EXPENDED ON QUALIFIED HOME IMPROVEMENTS IN ADDITION TO THE HOMEOWNER CONTRIBUTIONS. THIS PROGRAM RESULTED IN $ 400,638 IN HOME REPAIRS TO 60 HOMEOWNERS IN HOLYOKE, MA. 373909 HOME INVESTMENT PARTNERSHIP PROGRAM - RECEIVED $213,289 OF GRANT FUNDS FROM THE "HOME PROGRAM". THIS PROGRAM PROVIDED NEW AFFORDABLE HOUSING OWNERSHIP FOR LOW-INCOME PERSONS. ONE TWO-FAMILY DUPLEX HOME WAS CONSTRUCTED AND SOLD TO LOW-INCOME RESIDENTS OF THE CITY OF HOLYOKE AFTER THE END OF THIS FISCAL YEAR ENDED 6/30/12. HADLEY FALLS COMPANY RESTORATIONHADLEY FALLS CONVERSION PROGRAMRENTAL NEIGHBORHOOD INCENTIVE PROGRAM 1421758 1 1 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 24 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 9 7 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 35.00 X X 86904 16588 15506 REV JAMES AHERN MS 1.00 X 0 0 0 WALTER NALESNIK 1.00 X 0 0 0 GARY L JORDAN 1.00 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 1.00 X 0 0 0 ANNA MARIE TEMKIN 35.00 X 44614 11474 14275 131518 28062 29781 0 0 0 0 RIVERSIDE DEVELOPMENT CORPORATION 70 LYMAN STREET HOLYOKE MA 01040 PURCHASED SERVICES 206050 WESTCHESTER MODULAR HOMES 30 REAGANS MILL ROAD WINGDALE NY 12594 CONSTRUCTION 136428 2 475017 475017 RENTAL INCOME 531110 1237410 1237410 LOW-INCOME HOUSING MGT 531110 33867 33867 LAUNDRY TOKENS 531110 7662 7662 INSPECTION FEES 531110 1300 1300 1280239 34338 34338 1789594 1272577 0 42000 175558 175558 168589 168589 134595 134595 15045 8020 7025 51515 30465 21050 23322 11661 11661 3895 3895 29250 29250 1500 1500 915 915 22482 15063 7419 38962 33040 5922 9352 7014 2338 1302 1302 234089 231547 2542 11697 9241 2456 RENTAL UNIT EXPENSES 752243 752243 TELEPHONE 6888 5304 1584 DUES AND SUBSCRIPTIONS 3404 2723 681 MISCELLANEOUS 3307 177 3130 2559 1390 1169 1690469 1421758 268711 0 268921 308720 1881727 1602869 73872 39329 1474309 532724 33060 34775 8907172 5617545 1487074 3289627 24966 23966 78973 366644 5322902 6198654 74622 74506 65661 141654 25165 59497 165448 275657 X 1813747 2702669 495752 466704 2847955 2753624 5157454 5922997 5322902 6198654 X 99125 666418 X X 0 1 1 X 0 X 370390 913301 671931 465860 475017 2896499 370390 913301 671931 465860 475017 2896499 2896499 84812 66653 58324 54318 34338 298445 3194944 4880937 0.90660 0.89550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 8603915 5360304 3243611 259342 213326 46016 43915 43915 0 3289627 PROJECT COSTS 218341 TENANT SECURITY DEPOSITS 148303 366644 1789594 1690469 99125 666418 666418 765543 1583583 -206011 -206011 1789594 0 1789594 1690469 0 1690469 0 1690469 PART IV, LINE 2B: THE ORGANIZATION HOLDS REFUNDABLE TENANT SECURITY DEPOSITS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: TRANSFER OF ASSETS FROM CONTEMPORARY APARTMENTS, INC 872,429. PROVISION FOR LOSS ON HOUSING UNITS UP FOR SALE -206,011. TOTAL TO SCHEDULE D, PART XI, LINE 8: 666,418. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR LOSS ON FUTURE SALE OF DUPLEX -206,011. 1 GRANTS TO LOW INCOME HOMEOWNERS FOR HOME REPAIRS 60 175558 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 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 ON 1/1/2012, OLDE HOLYOKE DEVELOPMENT MERGED WITH A RELATED ORGANIZATION, CONTEMPORARY APARTMENTS, INC. WHICH WAS ALSO A SEC 501(C )(3) THAT OWNED AND OPERATED LOW-INCOME HOUSING. AS A RESULT, OLDE HOLYOKE DEVELOPMENT IS NOW RESPONSIBLE FOR 108 ADDITIONAL LOW-INCOME HOUSING UNITS AS COMPARED TO THE PRIOR YEAR. 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 NOT HAD ANY 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 CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: TRANSFER OF ASSETS FROM CONTEMPORARY APARTMENTS, INC 872,429. PROVISION FOR LOSS ON HOUSING UNITS UP FOR SALE -206,011. TOTAL TO FORM 990, PART XI, LINE 5: 666,418. 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 CONTEMPORARY APARTMENTS INC 70 LYMAN STREET HOLYOKE MA 01040 043067827 LOW-INCOME HOUSING MA 501(C)3 509(A)2 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 RIVERSIDE DEVELOPMENT- PURCHASED SERVICES L 206050