2024-05-14T00:13:56-04:00 2023-12-31 815081933 PAUL J CHRISTENSEN & ASSOCIATES LLC 2110 AUSTIN AVE WACO TX 76701 990 2023-01-01 751708505 TRAVIS TOWERS INC TRAV 9035867681 3135 FRANKLIN AVENUE WACO TX 76710 STEVE EDWARDS CHAIRMAN 9035867681 2024-05-02 true STEVE EDWARDS 999009999 false PAUL J CHRISTENSEN CPA P01370407 2547523436 2024-05-02 X 2023 2023-04-26 12:10:37Z STEVE EDWARDS 912202 false X X TX LOW INCOME HOUSING 4 4 3 0 0 879171 904102 1236 1721 6557 6379 886964 912202 0 0 162900 168581 0 0 482746 494162 645646 662743 241318 249459 1180023 1504824 60196 135538 1119827 1369286 LOW INCOME HOUSING false false 581125 904102 ELDERLY HIGH-RISE APARTMENT COMPLEX WITH 87 RENTAL UNITS FINANCED BY HUD SECTION 202 FUNDING, WITH MOST TENANTS RECEIVING SECTION 8 RENTAL ASSISTANCE. 581125 true false false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 4 0 3 true false false false false false false false false X 4 4 false true false false false false false true true false false true false false false true true false X SOVEREIGN MANAGEMENT CORP 2547530105 112 SOUTH 32ND STREET WACO TX 76710 X CHRISTOPHER DECLUITT VICE CHAIRMA X X 0 0 0 STEVE EDWARDS CHAIRMAN X X 0 0 0 MATTHEW NUNLEY TRUSTEE X 0 0 0 SHERRI NUNLEY TRUSTEE X 0 0 0 false false false TENANT ASSISTANCE PAYMENTS 531110 697641 697641 TENANT RENTAL CHARGES 531110 206461 206461 904102 1721 1721 TENANT CHARGES 900099 3876 3876 LAUNDRY REVENUE 900099 2439 2439 MISCELLANEOUS REVENUE 64 64 6379 912202 910481 1721 121568 121568 37651 37651 9362 9362 518 518 8650 8650 2814 2814 29367 29367 3045 3045 85848 85848 105492 105492 CLEANING AND MAINTENANCE 90209 90209 MANAGEMENT FEE 63390 63390 UTILITIES 57560 57560 SUPPLIES 30617 30617 16652 7074 9578 662743 581125 81618 0 30943 97388 330726 376744 3341 2236 44970 41145 5066027 4078716 770043 987311 1180023 1504824 32638 104314 1219 2425 26339 28799 60196 135538 X 1119827 1369286 1119827 1369286 1180023 1504824 X 249459 X false true X true true true X 672060 673949 695140 684445 697641 3423235 672060 673949 695140 684445 697641 3423235 3423235 155383 173856 168934 202519 214561 915253 4338488 4335531 0.78900 0.79580 X 118000 118000 4221665 3629615 592050 576080 392995 183085 150282 56106 94176 987311 RESERVES & DEPOSITS 28654 UTILITY ALLOWANCE 145 28799 X 924076 11874 11874 912202 912202 674617 11874 11874 662743 662743 SCHEDULE D, PAGE 3, PART X THE PROJECT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT IT HAS UNRELATED BUSINESS TAXABLE INCOME. THE PROJECT HAS NO MATERIAL UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE THAT THE PROJECT RECOGNIZE IN ITS FINANCIAL STATEMENTS THE FINANCIAL EFFECTS OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY APPEALS OR LITIGATION PROCESSES, BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION. THE REQUIREMENTS ALSO PROVIDE GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. TAX POSITIONS TAKEN RELATED TO THE PROJECT'S TAX-EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWED, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, THE PROJECT HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEAR ENDED DECEMBER 31, 2023, THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAXES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. THE FEDERAL RETURNS OF THE PROJECT FOR 2022, 2021 AND 2020 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THERE ARE NO EXAMINATIONS CURRENTLY IN PROGRESS. SCHEDULE D, PAGE 4, PART XI, LINE 2D ADMINISTRATIVE UNIT 10,809 BAD DEBTS 1,065 SCHEDULE D, PAGE 4, PART XII, LINE 2D ADMINISTRATIVE UNIT 10,809 BAD DEBTS 1,065 FORM 990, PAGE 6, PART VI, LINE 3 SOVEREIGN MANAGEMENT CORP. 112 S. 32TH WACO, TX 76710 FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 REVIEWED BY THE BOARD OF DIRECTORS AT A SCHEDULED MEETING PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 15A NOT COMPENSATED FORM 990, PAGE 6, PART VI, LINE 15B NOT COMPENSATED FORM 990, PAGE 6, PART VI, LINE 19 AVALIABLE UPON REQUEST FORM 990, PART XI, LINE 9 ADMINISTRATIVE UNIT 10,809 BAD DEBTS 1,065 ADMINISTRATIVE UNIT -10,809 BAD DEBTS -1,065