2011-11-14T15:57:31-06:00 2010-12-31 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD STE 300 CARMEL IN 46032 990 2010-01-01 203708317 PRESERVATION HOUSING PARTNERS PRES 2489338560 5184 IRON GATE BLOOMFIELD HILLS MI 48304 ROBERT S DIEDRICH 2489338560 2011-11-14 1 NANCY MORTON 3178485700 2010 2016-03-07 17:11:31Z X ROBERT S DIEDRICH 5184 IRON GATE BLOOMFIELD HILLS MI 48304 7554652 0 X N/A X 2005 MI THE CORPORATION IS ORGANIZED AND WILL BE OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. SPECIFICALLY, THE CORPORATION IS ORGANIZED TO CREATE AND PRESERVE AFFORDABLE HOUSING IN THE STATE OF MICHIGAN, AND IN ALL OTHER STATES WHERE THE CORPORATION IS AUTHORIZED TO TRANSACT BUSINESS, THROUGH THE CONSTRUCTION AND/OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW AND MODERATE INCOME TENANTS. IN PURSUANCE OF THESE PURPOSES, THE CORPORATION SHALL HAVE POWER AND AUTHORITY TO (A) CARRY ON ANY BUSINESS OR OTHER ACTIVITY THAT MAY BE LAWFULLY CONDUCTED BY A CORPORATION ORGANIZED UNDER THE MICHIGAN NONPROFIT CORPORATION ACT, AND (B) DO ALL THINGS NECESSARY, PROPER AND CONSISTENT WITH MAINTAINING TAX-EXEMPT STATUS UNDER SECTION 501(C)(3). 5 4 1 0 0 0 7265130 285559 152 3811 7554652 0 0 80738 0 0 51940 132678 7421974 10553805 3131831 7421974 X THE CORPORATION IS ORGANIZED AND WILL BE OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. SPECIFICALLY, THE CORPORATION IS ORGANIZED TO CREATE AND PRESERVE AFFORDABLE HOUSING IN THE STATE OF MICHIGAN, AND IN ALL OTHER STATES WHERE THE CORPORATION IS AUTHORIZED TO TRANSACT BUSINESS, THROUGH THE CONSTRUCTION AND/OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW AND MODERATE INCOME TENANTS. IN PURSUANCE OF THESE PURPOSES, THE CORPORATION SHALL HAVE POWER AND AUTHORITY TO (A) CARRY ON ANY BUSINESS OR OTHER ACTIVITY THAT MAY BE LAWFULLY CONDUCTED BY A CORPORATION ORGANIZED UNDER THE MICHIGAN NONPROFIT CORPORATION ACT, AND (B) DO ALL THINGS NECESSARY, PROPER AND CONSISTENT WITH MAINTAINING TAX-EXEMPT STATUS UNDER SECTION 501(C)(3). 0 0 51940 285559 THE CORPORATION IS ORGANIZED AND WILL BE OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. SPECIFICALLY, THE CORPORATION IS ORGANIZED TO CREATE AND PRESERVE AFFORDABLE HOUSING IN THE STATE OF MICHIGAN, AND IN ALL OTHER STATES WHERE THE CORPORATION IS AUTHORIZED TO TRANSACT BUSINESS, THROUGH THE CONSTRUCTION AND/OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW AND MODERATE INCOME TENANTS. IN PURSUANCE OF THESE PURPOSES, THE CORPORATION SHALL HAVE POWER AND AUTHORITY TO (A) CARRY ON ANY BUSINESS OR OTHER ACTIVITY THAT MAY BE LAWFULLY CONDUCTED BY A CORPORATION ORGANIZED UNDER THE MICHIGAN NONPROFIT CORPORATION ACT, AND (B) DO ALL THINGS NECESSARY, PROPER AND CONSISTENT WITH MAINTAINING TAX-EXEMPT STATUS UNDER SECTION 501(C)(3). 51940 1 1 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 X 5 4 1 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 0 1 1 1 0 NC PA X ROBERT S DIEDRICH 2489338560 5184 IRON GATE BLOOMFIELD HILLS MI 48304 X ROBERT S DIEDRICH 40.00 X X 75000 0 225000 STEPHEN BUFFA 0.20 X X 0 0 0 MICHAEL MULLIGAN 0.20 X 0 0 0 DANIEL COOPER 0.20 X 0 0 0 MICHAEL JEPSEN 0.20 X 0 0 0 75000 0 225000 0 0 1 0 0 7265130 7208101 7265130 DEVELOPER FEE INCOME 531390 133000 133000 RENTAL INCOME 531110 104559 104559 MANAGEMENT FEE INCOME 531310 48000 48000 285559 152 152 OTHER REVENUE-MISC. 531110 2701 2701 TENANT CHARGES 531110 1110 1110 3811 7554652 285559 0 3963 75000 75000 5738 5738 1595 1595 146 146 13965 13965 26596 26596 MANAGEMENT COMPANY EMPL 9470 9470 PASS-THROUGH RENTAL REA 168 168 132678 51940 80738 0 898 152048 5719 49820 9507215 26595 0 9480620 853202 0 11498 0 10553805 24012 11026 944720 2119039 0 33034 0 3131831 X 7421974 0 7421974 0 10553805 7421974 0 X 0 0 0 X 7265130 7265130 285559 285559 7550689 7550689 0 0 0 7550689 152 152 152 152 3811 3811 7554652 7554652 0.99950 0.00000 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1413390 1413390 6741825 14045 6727780 1352000 12550 1339450 9480620 RESTRICTED CASH 853202 C 853202 TENANT SECURITY DEPOSITS 32966 INVESTMENT IN SURREY HILL LIMITED PARTNERSHIP 68 33034 1 X X X X X 0 0 0 0 0 0 0 0 0 ROBERT S DIEDRICH 75000 0 0 0 0 0 225000 0 0 0 300000 0 0 0 SUPPLEMENTAL INFORMATION PART III THE AMOUNT REPORTED FOR DEFERRED COMPENSATION RELATES TO THREE YEARS WORTH OF AN ANNUAL SALARY DUE IN ARREARS TO ROBERT S. DIEDRICH. THE AMOUNT HAS NOT BEEN ACCRUED BY THE ENTITY AND IS BEING REPORTED OFF OF THE BALANCE SHEET. ROBERT S DIEDRICH WORKING CAPITAL LOAN X 150000 77720 0 1 1 NEMO MULTIFAMILY CAPITAL LLC BRIDGE LOAN X 867000 867000 0 1 1 944720 FORM 990, SCHEDULE L, PART II LOANS TO AND FROM INTERESTED PERSONS NEMO MULTIFAMILY CAPITAL, LLC IS WHOLLY OWNED BY ROBERT S. DIEDRICH. MR. DIEDRICH IS EMPLOYED BY THE ENTITY AND IS A MEMBER OF THE BOARD OF DIRECTORS. X 1 7208101 BOOK VALUE @ ACQUISITION 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): DURING THE YEAR ENDED DECEMBER 31, 2010, THE ORGANIZATION ACQUIRED FOUR PROPERTIES. THE FOUR PROPERTIES WERE ENCUMBERED BY A FIRST AND SECOND MORTGAGE, AND IN ONE CASE A THIRD MORTGAGE. THE FIRST MORTGAGE AND THE RELATED INTEREST WERE ASSUMED BY THE ORGANIZATION. THE SECOND AND THIRD MORTGAGE AND ALL RELATED INTEREST WERE ASSIGNED OVER TO THE ORGANIZATION BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE REVENUE AMOUNT REPORTED IS EQUIVALENT TO THE VALUE OF THE SECOND AND THIRD MORTGAGES AND RELATED INTEREST OUTSTANDING AT THE TIME OF ACQUISITION. ALL AMOUNTS WERE ASSIGNED TO THE ORGANIZATION BY HUD, THUS THE NUMBER OF CONTRIBUTORS BEING REPORTED IS ONE. FORM 990, PART VI, SECTION A, LINE 2 A MEMBER OF THE BOARD OF DIRECTORS (ROBERT S. DIEDRICH) WHOLLY OWNS AN ENTITY (NEMO MULTIFAMILY CAPITAL, LLC) THAT IS ENGAGED WITH THE ORGANIZATION FOR AN OUTSTANDING LIABILITY AT YEAR END. FORM 990, PART VI, SECTION A, LINE 3 HERITAGE HOUSE, IS MANAGED BY NDC REAL ESTATE MANAGEMENT, INC., A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. NDC REAL ESTATE MANAGEMENT, INC., HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED NDC REAL ESTATE MANAGEMENT, INC. TO MANAGE THE HERITAGE HOUSE APARTMENT COMMUNITY. FORM 990, PART VI, SECTION A, LINE 3 ORANGE VILLAGE, IS MANAGED BY NDC REAL ESTATE MANAGEMENT, INC., A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. NDC REAL ESTATE MANAGEMENT, INC., HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED NDC REAL ESTATE MANAGEMENT, INC. TO MANAGE THE ORANGE VILLAGE APARTMENT COMMUNITY. FORM 990, PART VI, SECTION A, LINE 3 LYNNHAVEN, IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANAGEMENT CORPORATION HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE LYNNHAVEN APARTMENT COMMUNITY. FORM 990, PART VI, SECTION A, LINE 3 GATEWAY VILLAGE, IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANAGEMENT CORPORATION HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE GATEWAY VILLAGE APARTMENT COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD SHALL APPOINT THE OFFICERS OF THE CORPORATION. THE OFFICERS SHALL BE A PRESIDENT, A SECRETARY, AND A TREASURER. THERE MAY ALSO BE A CHAIRPERSON, VICE PRESIDENT, AND SUCH OTHER OFFICERS AS THE BOARD DEEMS APPROPRIATE. THE PRESIDENT SHALL BE A VOTING MEMBER OF THE BOARD. THE SAME PERSON MAY HOLD TWO OR MORE OFFICES, BUT SUCH PERSON SHALL NOT EXECUTE, ACKNOWLEDGE, OR VERIFY AN INSTRUMENT IN MORE THAN ONE CAPACITY IF THE INSTRUMENT IS REQUIRED BY LAW OR BY THE PRESIDENT OR BY THE BOARD TO BE EXECUTED, ACKNOWLEDGED, OR VERIFIED BY TWO OR MORE OFFICERS. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS AT ANY REGULAR OR SPECIAL MEETING MAY AMEND OR REPEAL THESE BYLAWS, OR ADOPT NEW BYLAWS BY VOTE OF A MAJORITY OF THE DIRECTORS, IF NOTICE SETTING FORTH THE TERMS OF THE PROPOSAL HAS BEEN GIVEN IN ACCORDANCE WITH ANY NOTICE REQUIREMENT FOR SUCH MEETING OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE ACCOUNTING FIRM SENDS A DRAFT OF THE RETURN TO THE COMPANY. THE COMPANY FORWARDS A COPY OF THE RETURN TO THE EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C WHENEVER ANY MATTER ARISES IN WHICH A DIRECTOR EITHER HAS A CONFLICT OF INTEREST OR HAS A QUESTION ABOUT THE EXISTENCE OF A CONFLICT OF INTEREST, HE/SHE SHALL MAKE FULL DISCLOSURE OF THE MATERIAL FACTS OF THE CONFLICT TO THE CORPORATION BEFORE THE MATTER IS DISCUSSED FORMALLY. THIS DISCLOSURE MUST BE MADE TO THE FULL BOARD AT A PROPERLY CALLED MEETING OF THE BOARD. A RULING ON THE CONFLICT SHALL BE MADE BY A MAJORITY VOTE OF THE BOARD AND ENTERED INTO THE MINUTES OF THE CORPORATION. STATED CONFLICTS AND ABSTENTIONS SHALL BE INCLUDED IN THE MINUTES. PERSONS WHO HAVE CONFLICTS OF INTERESTS AS DEFINED HEREIN MAY PARTICIPATE IN THE DISCUSSION OF THE MATTER IN QUESTION AND MAY BE CONSIDERED IN DETERMINING THE PRESENCE OF A QUORUM, BUT MAY NOT VOTE ON ANY RESOLUTION OR ACTION OF THE BOARD INVOLVING THE MATTER IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MAY ELECT A COMPENSATION COMMITTEE OF UP TO THREE (3) DIRECTORS. IT SHALL BE RESPONSIBLE FOR PRESENTING RECOMMENDATIONS TO THE BOARD RELATIVE TO COMPENSATION TO BE PROVIDED TO OFFICERS AND OTHER SENIOR MANAGEMENT PERSONNEL, OR FOR APPROVING SUCH COMPENSATION TO OFFICERS AND MANAGEMENT PERSONNEL IN LIEU OF ACTION BY THE BOARD OF DIRECTORS. ALL MEMBERS OF THE COMMITTEE SHALL BE SUBJECT TO THE CONFLICT OF INTEREST POLICY AS DELINEATED IN THESE BYLAWS AT ARICLE XI. PRIOR TO MAKING ANY COMPENSATION DECISIONS, THE COMMITTEE SHALL OBTAIN INFORMATION WITH RESPECT TO THE COMPARABILITY OF THE PROPOSED COMPENSATION WITH AMOUNTS ORDINARILY PAID BY SIMILAR ORGANIZATIONS FOR SIMILAR SERVICES. THE COMMITTEE SHALL RELY ON THIS INFORMATION IN MAKING ITS RECOMMENDATIONS OR DECISIONS AND SHALL DOCUMENT THE BASIS FOR ITS ACTIONS CONCURRENTLY WITH THOSE RECOMMENDATIONS OR DECISIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. AVERAGE NUMBER OF HOURS WORKED FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B: ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED. PHP HERITAGE HOUSE LIMITED PARTNERSHIP 4415 FIFTH AVENUE PITTSBURGH PA 15213 272051437 RENTAL REAL ESTATE PA 2111350 2539795 N/A PHP ORANGE VILLAGE LIMITED PARTNERSHIP 4415 FIFTH AVENUE PITTSBURGH PA 15213 272051689 RENTAL REAL ESTATE PA 1684968 2253194 N/A QNP GATEWAY VILLAGE LLC 1415 OLD MILL CIRCLE WINSTON SALEM NC 27103 272122379 RENTAL REAL ESTATE NC 1578553 2561264 N/A QNP LYNNHAVEN LLC 1415 OLD MILL CIRCLE WINSTON SALEM NC 27103 272122535 RENTAL REAL ESTATE NC 1998619 3149309 N/A QNP HERITAGE HOUSE LLC 4415 FIFTH AVENUE PITTSBURGH PA 15213 272051840 RENTAL REAL ESTATE INVESTMENT PA 0 0 N/A QNP ORANGE VILLAGE LLC 4415 FIFTH AVENUE PITTSBURGH PA 15213 272052045 RENTAL REAL ESTATE INVESTMENT PA 0 0 N/A SURREY HILL LIMITED PARTNERSHIP 5184 IRON GATE BLOOMFIELD HILLS MI 48304 208807578 RENTAL REAL ESTATE MI RELATED -22 718 0 1 0.00010 PHP-SURREY HILL INC 5184 IRON GATE BLOOMFIELD HILLS MI 48304 310232194 RENTAL REAL ESTATE INVESTMENT MI PRESERVATION HOUSING PARTNERS C -22 -45 1.00000 1 0 0 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0