2024-01-27T09:11:31-06:00 2023-06-30 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2022-07-01 311209165 GARDEN COURT DOWNTOWN INC GARD 2192349923 PO BOX 540 SOUTH BEND IN 46224 ROD LUDWIG AUTHORIZED AGENT 2192349923 2024-01-27 1 ROD LUDWIG 999009999 0 EKATERINA GWYN P01333750 3178485700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN MYERS PO BOX 540 SOUTH BEND IN 46224 310691 0 X N/A X 1987 IN GARDEN COURT DOWNTOWN, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 30 UNIT APARTMENT COMPLEX IN NEW ALBANY, INDIANA KNOWN AS GARDEN COURT DOWNTOWN. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT (HAP) CONTRACT WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 OF THE NATIONAL HOUSING ACT. 12 12 0 13 0 0 205454 195531 102089 106639 279 1593 4175 6928 311997 310691 0 0 0 0 0 0 0 0 0 298285 297189 298285 297189 13712 13502 502176 497986 867853 850161 -365677 -352175 X GARDEN COURT DOWNTOWN, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 30 UNIT APARTMENT COMPLEX IN NEW ALBANY, INDIANA KNOWN AS GARDEN COURT DOWNTOWN. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT (HAP) CONTRACT WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 OF THE NATIONAL HOUSING ACT. 0 0 188324 106639 GARDEN COURT DOWNTOWN, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 30 UNIT APARTMENT COMPLEX IN NEW ALBANY, INDIANA KNOWN AS GARDEN COURT DOWNTOWN. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT (HAP) CONTRACT WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 OF THE NATIONAL HOUSING ACT. 188324 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 X RODNEY LUDWIG 5742349923 PO BOX 540 SOUTH BEND IN 46624 X X JOHN MYERS PRESIDENT 0.50 5.00 X X 0 0 0 DIANN PARSONS VICE PRESIDENT 0.50 5.00 X X 0 0 0 KAREN GEHRKE SECRETARY 0.50 5.00 X X 0 0 0 JIM CAUSEY PAST PRESIDENT 0.50 5.00 X X 0 0 0 BOB BEITER BOARD MEMBER 0.50 5.00 X 0 0 0 LORETTA PETERS BOARD MEMBER 0.50 5.00 X 0 0 0 LORI PARRISH BOARD MEMBER 0.50 5.00 X 0 0 0 MARY KAUFMAN BOARD MEMBER 0.50 5.00 X 0 0 0 SARAH SMITH BOARD MEMBER 0.50 5.00 X 0 0 0 SHARON BALKA BOARD MEMBER 0.50 5.00 X 0 0 0 ANNA CORBETT BOARD MEMBER 0.50 5.00 X 0 0 0 SUSAN EHLERT BOARD MEMBER 0.50 5.00 X 0 0 0 MATT COTTRILL BOARD MEMBER 0.50 5.00 X 0 0 0 0 0 0 0 0 0 0 0 195531 195531 RENTAL INCOME 531110 106639 106639 106639 1593 1593 MICELLANEOUS RENT REVE 531110 4347 4347 LAUNDRY & VENDING 531110 2148 2148 TENANT CHARGES 531110 433 433 6928 310691 106639 0 8521 21876 21876 11618 11618 555 555 15078 15078 143780 143780 2104 2104 36803 36803 696 696 MTG CO EMPLOYEE CHARGES 59738 59738 SERVICE COORINATOR 4845 4845 BAD DEBTS 96 96 297189 188324 108865 0 14058 4034 901 6388 2260 7307 1446708 1128313 331899 318395 113309 115384 22180 21079 17569 25399 502176 497986 15234 25322 15 3673 841819 810348 10785 10818 867853 850161 X -365677 -352175 -365677 -352175 502176 497986 13502 0 X X 0 1 X 1 1 1 X 202458 205086 201216 205454 195531 1009745 87961 90085 94732 102089 106639 481506 290419 295171 295948 307543 302170 1491251 0 0 0 1491251 457 393 191 279 1593 2913 457 393 191 279 1593 2913 4729 12071 2451 4175 6928 30354 295605 307635 298590 311997 310691 1524518 0.97820 0.98040 0.00190 0.00100 X SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES, BAD DEBTS, AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20369 20369 1057033 811842 245191 272046 238589 33457 97260 77882 19378 318395 REPLACEMENT RESERVES 115379 C RESIDUAL RECEIPTS 5 C 115384 SECURITY DEPOSITS 8962 INSURANCE ESCROW 16437 25399 SECURITY DEPOSITS 8848 ACCRUED INTEREST 1970 10818 X 310691 0 310691 0 310691 299798 2609 2609 297189 0 297189 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION EXPENSE DIFFERENCE 2,609. FORM 990, PART VI, SECTION A, LINE 3 GARDEN COURT DOWNTOWN, INC. IS MANAGED BY BRADLEY RESIDENTIAL MANAGEMENT, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. BRADLEY RESIDENTIAL MANAGEMENT HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED BRADLEY RESIDENTIAL MANAGEMENT TO MANAGE GARDEN COURT DOWNTOWN APARTMENT COMMUNITY. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS ONE CLASS OF MEMBERS WHO MUST BE A LEGALLY COMPETENT PERSON OF GOOD REPUTATION, RESIDE IN THE CITY OF PLYMOUTH OR IN THE SURROUNDING AREA, PAY A SMALL MEMBERSHIP FEE AND BE ELECTED AT THE ANNUAL MEETING OF MEMBERS OR AT ANY MEETING OF THE BOARD OF DIRECTORS. MEMBERS, WHO ARE ENTITLED TO ONE VOTE EACH, MEET ANNUALLY FOR THE PURPOSE OF ELECTING BOARD OF DIRECTORS, WHO MUST BE MEMBERS OF THE CORPORATION AND RESIDENTS OF THE COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS, WHO ARE ENTITLED TO ONE VOTE EACH, MEET ANNUALLY FOR THE PURPOSE OF ELECTING BOARD OF DIRECTORS WHO SERVE ON A ROTATING BASIS. BOARD OF DIRECTORS MUST BE MEMBERS OF THE CORPORATION AND ALSO BE RESIDENTS OF THE COMMUNITY. THE BOARD MEMBERS OF THE CORPORATION ARE THE LEGAL REPRESENTATIVES OF THE CORPORATION AND AS SUCH HAVE, HOLD, AND ADMINISTER ALL OF THE PROPERTY, FUNDS AND AFFAIRS OF THE CORPORATION UNDER AND PURSUANT TO THE TERMS AND CONDITIONS OF THE INDIANA NOT FOR PROFIT CORPORATION ACT AND PURSUANT TO THE TERMS AND CONDITIONS OF THE CORPORATION'S ARTICLES OF INCORPORATION AND BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD MEMBERS OF THE CORPORATION, ALTHOUGH THEY ARE THE LEGAL REPRESENTATIVES OF THE CORPORATION AND ADMINISTER ALL OF THE PROPERTY, FUNDS AND AFFAIRS OF THE CORPORATION PURSUANT TO THE TERMS AND CONDITIONS OF THE INDIANA NOT FOR PROFIT CORPORATION ACT, THE TERMS AND CONDITIONS OF THE CORPORATION'S ARTICLES OF INCORPORATION AND BY-LAWS, PRESENT MAJOR ISSUES TO THE MEMBERS AT THE ANNUAL MEETING OF THE MEMBERS. AS REQUIRED BY ARTICLE III OF THE CORPORATION'S BY-LAWS, SUCH ISSUES ARE APPROVED BY A MAJORITY VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY PRESENTS THE 990 AT THE BOARD MEETING FOR THEIR REVIEW. ONCE THE BOARD HAS AN OPPORTUNITY TO ASK QUESTIONS, THE BOARD APPROVES THE FORM 990 AND THE PRESIDENT GIVES APPPROVAL TO FILE THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C REVIEW THE POLICY ON AN ANNUAL BASIS WITH THE BOARD OF DIRECTORS TO MAKE SURE THAT EVERYONE IS IN COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES ITS POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. FORM 990, PART VI, SECTION C, LINE 19 EXISTING POLICIES, RETURNS AND FINANCIAL STATEMENTS ARE MAINTAINED AT THE OFFICES OF THE MANAGEMENT COMPANY. THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B: HOURS WORKED FOR RELATED ORGANIZATIONS: 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. FORM 990, PART XII, LINE 2C: OVERVIEW OF AUDIT FUNCTION: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM. 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