INEZ APARTMENTS INC: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: INEZ APARTMENTS INC (EIN 20-1835268)
Tax period: 2012-07-01 to 2013-06-30
Filed: 2013-11-12
IRS object ID: 201313169349305356
Schema version: 2012v2.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-11-12T16:54:58-05:00	Timestamp
Tax Period End Date	2013-06-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MORGAN-FRANKLIN LLC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	749 BROADWAY STREET	AddressLine1
City	WEST LIBERTY	City
State	KY	State
ZIP Code	41472	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-07-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	201835268	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	INEZ APARTMENTS INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	INEZ	NameControl
Phone	6068862374	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	110 RESOURCE COURT	AddressLine1
City	Prestonsburg	City
State	KY	State
ZIP Code	41653	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	MOUNTAIN HOUSING CORPORATION	Name
Title	SANDY RUNYON	Title
Date Signed	2013-11-06	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	BRENDA K MORGAN	Name
PTIN	P01347282	PTIN
Phone	6067431884	Phone
Date Prepared	2013-11-04	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	SANDY RUNYON	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	BIG SANDY	AddressLine1
City	PRESTONSBURG	City
State	KY	State
ZIP Code	41653	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	98219	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2004	YearFormation
State Legal Domicile	KY	StateLegalDomicile
Activity Or Mission Description	TO PROVIDE LOW INCOME HOUSING FOR SENIOR CITIZENS	ActivityOrMissionDescription
Nbr Voting Members Governing Body	8	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	4	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	103180	ProgramServiceRevenuePriorYear
Program Service Revenue CY	97493	ProgramServiceRevenueCY
Investment Income Prior Year	1123	InvestmentIncomePriorYear
Investment Income Current Year	726	InvestmentIncomeCurrentYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	104303	TotalRevenuePriorYear
Total Revenue Current Year	98219	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	24454	SalariesEtcPriorYear
Salaries Etc Current Year	26280	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	116527	OtherExpensePriorYear
Other Expenses Current Year	122595	OtherExpensesCurrentYear
Total Expenses Prior Year	140981	TotalExpensesPriorYear
Total Expenses Current Year	148875	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-36678	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-50656	RevenuesLessExpensesCY
Total Assets BOY	2049794	TotalAssetsBOY
Total Assets EOY	1994946	TotalAssetsEOY
Total Liabilities BOY	14431	TotalLiabilitiesBOY
Total Liabilities EOY	10239	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	2035363	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	1984707	NetAssetsOrFundBalancesEOY
Mission Description	TO PROVIDE LOW INCOME HOUSING TO SENIOR CITIZENS	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	148875	Expense
Description	PROVIDE 24 LOW INCOME HOUSING UNITS TO SENIOR CITIZENS	Description
Total Program Service Expense	148875	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	1	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	4	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Excess Business Holdings	false	ExcessBusinessHoldings
Taxable Distributions	false	TaxableDistributions
Distribution To Donor	false	DistributionToDonor
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	8	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	true	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	MADONNA SKAGGS	NamePerson
Telephone Number	6066833100	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	396 CAVE RUN RD	AddressLine1
City	SALT LICK	City
State	KY	State
ZIP Code	40371	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (5 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
SANDY RUNYON
PRESIDENT	2	X	X	0	0	0
CRAIG PREECE
DIRECTOR	2	X		0	0	0
L WHEELER
SEC/TREAS	2	X	X	0	0	0
DON CECIL
DIRECTOR	2	X		0	0	0
JAMES BUTLER
VP	2	X	X	0	0	0

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	RENTAL INCOME	Description
Business Code	531110	BusinessCode
Total Revenue Column	97493	TotalRevenueColumn
Related Or Exempt Function Income	97493	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Program Service Revenue	97493	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	726	TotalRevenueColumn
Related Or Exempt Function Income	726	RelatedOrExemptFunctionIncome

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	98219	TotalRevenueColumn
Related Or Exempt Function Income	98219	RelatedOrExemptFunctionIncome

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	24010	Total
Program Services	24010	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	2270	Total
Program Services	2270	ProgramServices

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	12378	Total
Program Services	12378	ProgramServices

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	200	Total
Program Services	200	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	2400	Total
Program Services	2400	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	677	Total
Program Services	677	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	1873	Total
Program Services	1873	ProgramServices

Travel Travel

Field	Value	IRS element (for citing)
Total	97	Total
Program Services	97	ProgramServices

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	54536	Total
Program Services	54536	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	5568	Total
Program Services	5568	ProgramServices

Other Expenses OtherExpenses (4 entries)

TotalTotal
7600
68
1576
2598

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	33024	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	148875	Total
Program Services	148875	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	7343	BOY
EOY	818	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	113874	BOY
EOY	120078	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	904	BOY
EOY	913	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	2196905	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	323768	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	1927673	BOY
EOY	1873137	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	2049794	BOY
EOY	1994946	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	7983	BOY
EOY	4652	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	6448	BOY
EOY	5587	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	14431	BOY
EOY	10239	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	2035363	BOY
EOY	1984707	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2035363	BOY
EOY	1984707	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2049794	BOY
EOY	1994946	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	-50656	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	true	FederalGrantAuditRequired
Federal Grant Audit Performed	true	FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	79557	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	80312	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	88868	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	103180	CurrentTaxYearMinus1Year
Current Tax Year	97493	CurrentTaxYear
Total	449410	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	79557	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	80312	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	88868	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	103180	CurrentTaxYearMinus1Year
Current Tax Year	97493	CurrentTaxYear
Total	449410	Total

Field	Value	IRS element (for citing)
Public Support Total509	449410	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	915	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	1638	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	933	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1123	CurrentTaxYearMinus1Year
Current Tax Year	726	CurrentTaxYear
Total	5335	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	915	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	1638	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	933	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1123	CurrentTaxYearMinus1Year
Current Tax Year	726	CurrentTaxYear
Total	5335	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	80472	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	81950	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	89801	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	104303	CurrentTaxYearMinus1Year
Current Tax Year	98219	CurrentTaxYear
Total	454745	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	0.98830	PublicSupportPercentage509
Prior Year Support Percentage	0.98760	PriorYearSupportPercentage
Investment Income Percentage	0.01170	InvestmentIncomePercentage
Prior Yr Invest Income Percentage	0.01240	PriorYrInvestIncomePercentage
Thirty Three Percnt Tests CY509	X	ThirtyThreePercntTestsCY509

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Disclosed Orgs Legal Control	false	DisclosedOrgsLegalControl
Disclosed For Charitable Purposes	false	DisclosedForCharitablePurposes
Written Policy Monitoring	false	WrittenPolicyMonitoring
Included On FS	false	IncludedOnFS

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	120013	OtherCostOrOtherBasis
Book Value	120013	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	2047746	OtherCostOrOtherBasis
Depreciation	307162	Depreciation
Book Value	1740584	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	29146	OtherCostOrOtherBasis
Depreciation	16606	Depreciation
Book Value	12540	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	1873137	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	TENANT SECURITY DEPOSITS	Description
Amount	$5,587	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	5587	TotalOfAmounts

Form990 Schedule D Part XIII Form990ScheduleDPartXIII (2 entries)

ExplanationExplanation
PART X - SECUTITY DEPOSITS ARE COLLECTED AND MAINTAINED IN SEPERATE
BANK ACCOUNTS AS REQUIRED BY HUD

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (10 entries)

ExplanationExplanation
PART VI; LINE 11 - A COPY OF THE TAX RETURN IS EMAILED TO THE
ACCOUNTANT WITH THE MANAGEMENT COMPANY AND TO THE BOARD PRESIDENT
WHO IS TO SIGN THE RETURN. ONCE THE TAX RETURN IS REVIEWED AND
APPROVED IT IS PREPARED FOR MAILING TO THE IRS.
PART VI; LINE 19 - ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON
WRITTEN REQUEST AND ALL MEETINGS ARE OPEN TO THE PUBLIC.
PART VI; SECTION B LINE 12C - THE BOARD AND MANAGEMENT COMPANY
MONITOR ON AN ON-GOING BASIS. THE BOARD REVIEWS FINANCIAL DATA FOR
RELATED PARTY TRANSACTION AND THE MANAGEMNET COMPANY SEEKS
HUD APPROVAL BEFORE PAYING ANY DISBURSEMENTS TO RELATED PARTIES.