2024-08-07T10:51:34-05:00 2023-12-31 621657946 CANNON WRIGHT BLOUNT PLLC 756 RIDGE LAKE BLVD SUITE 100 MEMPHIS TN 38120 990 2023-01-01 030482299 MEMPHIS LAND BANK INC MEMP 9015904821 5050 POPLAR AVE STE 1714 MEMPHIS TN 381571714 VIRGINIA FRANCIS ASSISTANT TREASURER 9015904821 2024-08-06 1 0 DONNA S WHITTINGTON CPA P01693622 9016857500 2024-08-06 2023 2024-08-08 14:25:15Z J MARTIN REGAN JR 5050 POPLAR AVE STE 1714 MEMPHIS TN 381571714 614662 0 X N/A X 2000 TN TO ACQUIRE, CONSTRUCT, DEVELOP, LEASE, MANAGE, OPERATE, SELL AND OTHERWISE DEAL WITH SAFE, DECENT, AND AFFORDABLE HOUSING, IN PARTICULAR ASSISTING THE LOCAL HOUSING AUTHORITY IN PROVIDING HOUSING TO LOW AND VERY LOW INCOME FAMILIES AND INDIVIDUALS IN THE CITY OF MEMPHIS, TENNESSEE. 5 2 29 0 0 0 0 0 391655 400508 234203 214154 29784 -1183348 655642 -568686 0 0 0 0 310300 404108 0 0 0 337179 329265 647479 733373 8163 -1302059 19099718 19257277 8854014 9498053 10245704 9759224 X TO ACQUIRE, CONSTRUCT, DEVELOP, LEASE, MANAGE, OPERATE, SELL AND OTHERWISE DEAL WITH SAFE, DECENT, AND AFFORDABLE HOUSING, IN PARTICULAR ASSISTING THE LOCAL HOUSING AUTHORITY IN PROVIDING HOUSING TO LOW AND VERY LOW INCOME FAMILIES AND INDIVIDUALS IN THE CITY OF MEMPHIS, TENNESSEE. 0 0 647854 400508 ENGAGED IN THE CONSTRUCTION DEVELOPMENT AND MANAGEMENT OF SINGLE FAMILY AND DUPLEX LOW INCOME HOUSING TAX CREDIT PROPERTIES. 647854 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 1 8 0 1 29 1 0 0 0 0 0 0 0 0 0 0 X 5 2 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 TN X VIRGINIA FRANCIS 9015904821 5050 POPLAR AVE STE 1714 MEMPHIS TN 381571714 OSIE LEWIS DIRECTOR 1.00 X 0 0 0 OWEN L REID DIRECTOR OF OPERATIONS 40.00 X 171606 0 4308 J MARTIN REGAN JR PRESIDENT 5.00 X X 0 0 0 LUKE YANCY IV TREASURER 1.00 X X 0 0 0 VIRGINIA A FRANCIS SECRETARY/ASSISTANT TREASU 40.00 X X 152078 0 7614 323684 0 11922 2 0 1 0 0 MANAGEMENT FEES 561000 396468 396468 GROUND LEASE 531190 4040 4040 400508 213039 213039 1183348 -1183348 -1183348 -1183348 1115 0 1115 1115 1115 -568686 400508 0 -969194 X 323684 323684 19212 19212 38642 38642 22570 22570 87820 87820 31647 19950 11697 6984 6984 118200 72000 46200 1186 1186 52674 48674 4000 52 52 4082 4082 173 173 749 749 TELEPHONE AND INTERNET 12463 12463 COMPUTER SUPPLIES & SUP 7284 7284 BANK FEES 3842 3842 MISCELLANEOUS 725 725 1384 112 1272 733373 647854 85519 0 168234 71172 4556622 4545371 11231833 11231833 15649 17747 377069 137869 239373 239200 812360 462535 208064 163579 1867583 2525840 19099718 19257277 11175 11790 325254 321214 8517585 9165049 8854014 9498053 X 10245704 9759224 10245704 9759224 19099718 19257277 X -1302059 107478 708101 X X 0 1 X 0 1 1 X 241647 241647 1541414 401560 397812 391655 400508 3132949 1541414 401560 639459 391655 400508 3374596 0 0 0 3374596 180774 189104 234865 197896 208040 1010679 180774 189104 234865 197896 208040 1010679 11396 101481 817 29784 143478 1733584 692145 875141 619335 608548 4528753 0.74510 0.74490 0.22320 0.21260 X 239200 239200 137869 137869 0 239200 DUE FROM RELATED PARTIES 1528763 PREDEVELOPMENT EXPENSES 993325 OTHER ASSETS 3752 2525840 GRANT NOTES PAYABLE 7347928 DUE TO RELATED PARTIES 1656585 LEASE LIABILITY 160536 9165049 239909 107478 708101 815579 -575670 6984 6984 -568686 726389 0 726389 6984 6984 733373 PART XI, LINE 2D - OTHER ADJUSTMENTS: PASSTHROUGH PARTNERSHIP TAX LOSS GREATER THAN BOOK LOSS 708,101. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 6,984. PART XII, LINE 4B - OTHER ADJUSTMENTS: CFGM MANAGEMENT FEES 6,984. 0 0 0 0 0 0 0 0 0 OWEN L REID DIRECTOR OF OPERATIONS 151606 0 20000 0 0 0 1292 0 3016 0 175914 0 0 0 VIRGINIA A FRANCIS SECRETARY/ASSISTANT TREASU 132078 0 20000 0 0 0 6442 0 1172 0 159692 0 0 0 LEWIS THOMASON LAW FIRM LEGAL SERVICES 74000 J. MARTIN REGAN, JR., A PARTNER IN THE LAW FIRM, IS A DIRECTOR AND OFFICER OF THE ORGANIZATION. 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE CERTIFIED PUBLIC ACCOUNTING FIRM AND IS REVIEWED BY THE PRESIDENT,TREASURER AND ASSISTANT TREASURER OF THE ORGANIZATION BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C BYLAWS AND ANY CHANGES AND AMENDMENTS WHICH REFERENCE THESE ISSUES ARE PROVIDED TO ALL OFFICERS, DIRECTORS AND EMPLOYEES. WRITTEN CORPORATE COMPLIANCE PROGRAM PLANS WHICH REFERENCE THESE ISSUES ARE PROVIDED TO EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR KEY PERSONNEL IS SUBJECT TO APPROVAL BY BOARD OF DIRECTORS. OPERATIONS AND FINANCIAL STATEMENTS ARE REVIEWED PERIODICALLY BY BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G TECHNICAL CONSULTANT: PROGRAM SERVICE EXPENSES 66,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 66,000. PAYROLL SERVICE FEES: PROGRAM SERVICE EXPENSES 6,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,000. PRIVATE MANAGEMENT : PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 46,200. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 46,200. FORM 990, PART XI, LINE 9: PASSTHROUGH PARTNERSHIPS RENTAL REAL ESTATE TAX LOSS IN EXCESS OF BOOK LOSS 708,101. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. 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