2024-11-12T16:38:04-06:00 2023-12-31 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2023-01-01 161492087 LAKE AREA DEVELOPMENT CORPORATION LAKE 3157898010 PO BOX 153 GENEVA NY 14456 ROBERT P DOEBLIN CHIEF EXECUTIVE OFFICER 3157898010 2024-11-12 1 0 DAVID A URBAN CPA P00630018 7166340700 2024-11-12 2023 2024-10-15 13:58:12Z ROBERT P DOEBLIN PO BOX 153 GENEVA NY 14456 1415045 0 X N/A X 1995 NY LOW-INCOME HOUSING. 4 4 0 0 0 0 57617 8975 484605 210379 21 10 64125 1195681 606368 1415045 0 0 0 0 149082 62973 0 0 0 419741 199570 568823 262543 37545 1152502 2717301 2621654 3167356 1919207 -450055 702447 LOW-INCOME HOUSING 0 0 135885 200779 THE ORGANIZATION DEVELOPS AND OPERATES LOW-INCOME HOUSING FOR THE BENEFIT OF LOW AND MODERATE INCOME ELDERLY AND HANDICAPPED TENANTS IN A 50-UNIT APARTMENT COMPLEX IN GENEVA, NEW YORK. 135885 1 1 0 0 0 0 0 0 0 0 1 0 0 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 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 1 1 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 0 NY X ROBERT DOEBLIN 3157898010 PO BOX 153 GENEVA NY 14456 X DOMINICK VEDORA PRESIDENT 2.00 0.00 X X 0 0 0 PHIL BECKLEY VICE PRESIDENT 2.00 0.00 X X 0 0 0 JOHN PARROTT JR SECRETARY 2.00 0.00 X X 0 0 0 JIM VEDORA TREASURER 2.00 0.00 X X 0 0 0 ROBERT P DOEBLIN C.E.O. 2.00 40.00 X 0 0 0 0 0 0 0 0 0 0 0 8975 8975 TENANT ASSISTANCE PAYMENTS 531110 147769 147769 RENTAL INCOME 531110 53010 53010 MANAGEMENT FEE 531110 9600 9600 210379 10 10 LOAN FORGIVENESS 900099 1153945 1153945 CELL TOWER INCOME 531310 22379 22379 LADC REVENUE 900099 12916 12916 6441 3862 2579 1195681 1415045 227157 0 1178913 62973 23555 39418 15711 15711 23685 23685 4200 4200 13497 5997 7500 7658 7658 13300 13300 28701 28701 49022 49022 9370 9370 BAD DEBT 12553 12553 MISCELLANEOUS 10825 270 10555 CABLE TV 5378 5378 SUPPLIES 4728 4728 942 942 262543 135885 126658 0 110036 862 15419 1128 31000 69000 1745 4327 34985 3865600 2565735 1334648 1299865 1220126 1215814 2717301 2621654 42540 19024 1994076 775634 1115059 1108551 15681 15998 3167356 1919207 X -450055 702447 -450055 702447 2717301 2621654 1152502 0 X X 0 1 X 1 1 1 X 57617 8975 66592 469155 475272 436150 484605 157369 2022551 469155 475272 436150 542222 166344 2089143 0 0 0 2089143 40702 48408 58970 58090 22389 228559 40702 48408 58970 58090 22389 228559 5976 7275 31267 5956 1195681 1246155 515833 530955 526387 606268 1384414 3563857 0.58620 0.88830 0.06410 0.09040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53500 53500 3611775 2463771 1148004 200325 101964 98361 1299865 LEASES RECEIVABLE 1108551 RESERVE FOR REPLACEMENTS 88045 TAX & INSURANCE ESCROW 3220 TENANTS' SECURITY DEPOSITS 15998 1215814 TENANTS' SECURITY DEPOSITS 15998 15998 X 1415045 0 1415045 0 1415045 262543 0 262543 0 262543 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE); THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE CORPORATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITION BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED OR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE CORPORATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. PART XII, LINE 4B - OTHER ADJUSTMENTS: LAKE AREA DEVELOPMENT CORP EXPENSES FORM 990, PART VI, SECTION A, LINE 2 THE BOARD'S PRESIDENT, DOMINICK VEDORA, IS THE FATHER OF THE TREASURER, JAMES VEDORA. FORM 990, PART VI, SECTION A, LINE 3 GENEVA HOUSING AUTHORITY, A NEW YORK PUBLIC CORPORATION, IS THE MANAGEMENT SERVICE PROVIDER TO MANAGE THE OPERATIONS OF THE APARTMENT PROJECT. RESPONSIBILITIES INCLUDE ADVICE AND ASSISTANCE WITH RESPECT TO HUD REGULATIONS AND THE ADMINISTERING OF DAILY OPERATIONS FOR THE PROJECT. FORM 990, PART VI, SECTION A, LINE 7B THE CORPORATION HAS ENTERED INTO A CONTRACT WITH THE GENEVA HOUSING AUTHORITY TO MANAGE THE OPERATIONS OF THE APARTMENT PROJECT. RESPONSIBILITIES INCLUDE ADVISE AND ASSISTANCE WITH RESPECT TO HUD REGULATIONS AND THE ADMINISTERING OF DAILY OPERATIONS FOR THE PROJECT. FORM 990, PART VI, SECTION A, LINE 8B NO MEETINGS HELD DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY OFFICERS AND BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C VOLUNTARY DISCLOSURE REQUIRED. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION AVAILABLE UPON REQUEST. FORM 990, PART XII LINE 2: AUDITED FINANCIAL STATEMENTS ARE ISSUED FOR THE SENECA APARTMENTS (THE PROJECT), WHICH IS A RESTRICTED PROJECT OF LAKE AREA DEVELOPMENT CORPORATION. THE ASSETS, LIABILITIES, AND ACTIVITY OF LAKE AREA DEVELOPMENT CORPORATION IS NOT INCLUDED IN THE AUDITED FINANCIAL STATEMENTS, BUT HAS BEEN INCLUDED IN THE FORM 990. FORM 990, PART XII LINE 2C: THERE HAVE BEEN NO CHANGES TO AUDIT OVERSIGHT IN THE CURRENT YEAR. GENEVA HOUSING AUTHORITY PO BOX 153 GENEVA NY 14456 166013650 HOUSING MANAGEMENT & DEVELOPMENT NY 115 0 FINGER LAKES COMMUNITY DEVELOPMENT 41 LEWIS STREET GENEVA NY 14456 161561999 HOUSING MANAGEMENT & DEVELOPMENT NY 501(C)(3) LINE 10 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 GENEVA HOUSING AUTHORITY M FMV