2024-11-11T12:26:28-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2023-01-01 463995603 BANYAN CLUB APARTMENTS HOLDING CORP BANY 5616842160 3333 FOREST HILL BLVD WEST PALM BEACH FL 33406 TAD J FULLER CHIEF FINANCIAL OFFICER 5616842160 2024-11-08 1 1 LACEY M QUATSOE P01300865 4078021200 2024-11-07 2023 2024-10-15 13:58:12Z CAROL JONES-GILBERT 3333 FOREST HILL BLVD WEST PALM BEACH FL 33406 1428781 0 X N/A X 2013 FL ACQUIRING, OWNING, HOLDING, MAINTAINING, AND OPERATING THE BANYAN CLUB APARTMENTS 3 3 3 3 0 0 0 0 1433324 1411699 3684 13530 12961 3552 1449969 1428781 0 0 0 0 0 206352 0 0 0 1329716 1062828 1329716 1269180 120253 159601 3946015 3939589 6503572 6337545 -2557557 -2397956 ACQUIRING, OWNING, HOLDING, MAINTAINING, AND OPERATING THE BANYAN CLUB APARTMENTS FOR AFFORDABLE HOUSING USE FOR CITIZENS OF PALM BEACH COUNTY WITH INCOMES AT 60% OR LESS OF THE AREA MEDIAN INCOME. 0 0 1173223 1411699 BANYAN CLUB APARTMENTS OWNS AND OPERATES THE 148-UNIT RESIDENTIAL APARTMENT COMPLEX. 1173223 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 10 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 X TAD FULLER 5616842160 3333 FOREST HILL BLVD WEST PALM BEACH FL 33406 PHYLLIS CHOY BOARD CHAIR 0.10 1.00 X X 0 0 0 DIGNA MEJIA VICE CHAIR 0.10 1.00 X X 0 0 0 PAUL DUMARS DIRECTOR 0.10 1.00 X 0 0 0 CAROL JONES-GILBERT CEO 0.10 40.00 X 0 216474 67673 0 216474 67673 0 0 1 0 0 TENANT REVENUE 533110 1411699 1411699 1411699 13530 13530 DAMAGE REIMBURSE 900099 1185 1185 LAUNDRY & VENDING 900099 1160 1160 TENANT SCREENING 900099 494 494 713 713 3552 1428781 1411699 0 17082 145682 145682 60670 60670 71597 71597 4615 4615 19745 19745 35061 35061 682721 682721 161915 161915 87174 87174 1269180 1173223 95957 0 398868 216917 25257 12291 36396 22154 56730 59287 4120534 1273952 2909706 2846582 519058 782358 3946015 3939589 121953 82364 11137 5719 6256790 6135187 113692 114275 6503572 6337545 X -2557557 -2397956 -2557557 -2397956 3946015 3939589 159601 0 X 0 1 X 1 1 1 X 1400918 1432938 1425061 1433324 1411699 7103940 1400918 1432938 1425061 1433324 1411699 7103940 0 0 0 7103940 1316 954 949 3684 13530 20433 1316 954 949 3684 13530 20433 293237 15917 7605 12961 3552 333272 1695471 1449809 1433615 1449969 1428781 7457645 0.95260 0.95080 0.00270 0.00100 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 8,219. 2020 AMOUNT: $ 15,917. 2021 AMOUNT: $ 7,605. 2022 AMOUNT: $ 12,961. 2023 AMOUNT: $ 3,552. INSURANCE PROCEEDS - 2019 AMOUNT: $ 285,018. 3466768 1022052 2444716 522185 192888 329297 76561 59012 17549 55020 55020 2846582 TENANT SECURITY DEPOSITS 114275 ESCROW DEPOSITS 67089 REPLACEMENT RESERVE 600994 782358 SECURITY DEPOSITS 114275 114275 X 1428781 0 1428781 0 1428781 1269180 0 1269180 0 1269180 PART X, LINE 2: THE PROJECT FILES A TAX RETURN IN ACCORDANCE WITH APPLICABLE TAX REQUIREMENTS OF A 501(C)(3). THEREFORE, NO PROVISION OR LIABILITY FOR FEDERAL INCOME OR STATE TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS. THE PROJECT FILES INCOME TAX OR INFORMATION RETURNS IN THE U.S. FEDERAL JURISDICTION. THE PROJECT CURRENTLY HAS NO UNCERTAIN TAX POSITIONS THAT HAVE BEEN TAKEN AND BELIEVES IT CAN DEFEND ITS TAX RETURNS TO ANY JURISDICTION. THE PROJECT IS NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS BEFORE 2018. X X 0 0 0 0 1 0 0 0 0 CAROL JONES-GILBERT CEO 0 216474 0 0 0 0 0 53360 0 14313 0 284147 0 0 PART I, LINE 3 THE BOARD APPROVES MS. CAROL'S COMPENSATION ANNUALLY. MS. CAROL IS THE ONLY ONE WITH AN EMPLOYMENT CONTRACT WHICH DISCLOSES SALARIES AND BENEFITS, INCLUDING WHO PAYS WHAT PORTION OF THOSE BENEFITS, IE EMPLOYER OR EMPLOYEE. THE BOARD OF COMMISSIONERS COMPLETES ANNUAL REVIEWS AND IF APPLICABLE PAY INCREASES BASED ON THOSE REVIEWS. FORM 990, PART V, LINE 2B: THE NUMBER OF EMPLOYEES LISTED AS BEING ON FORM W-3 IS THE TOTAL EMPLOYEE COUNT FOR THE FILING ORGANIZATION. WHILE THE PALM BEACH COUNTY HOUSING AUTHORITY IS THE COMMON PAYMASTER FOR BANYAN CLUB APARTMENTS HOLDING CORP, THE NUMBER OF EMPLOYEES ONLY INCLUDES THE EMPLOYEE COUNT FOR BANYAN CLUB APARTMENTS HOLDING CORP. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY, AT ITS DISCRETION, ELECT AN EXECUTIVE COMMITTEE COMPOSED OF THE CHAIRMAN OF THE BOARD OF DIRECTORS, THE IMMEDIATE PAST CHAIRMAN, AND THE OTHER OFFICERS OF THE BOARD. THE COMMITTEE SHALL EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION BETWEEN THE MEETINGS OF THE BOARD OF DIRECTORS. ANY ACTIONS OF THE COMMITTEE SHALL BE RATIFIED BY THE FULL BOARD OF DIRECTORS AT THE NEXT REGULAR MEETING. THE PRESIDENT, CEO SHALL SERVE AS AN EX-OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE WITHOUT VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS A MANAGEMENT AGREEMENT WITH THE SPECTRA ORGANIZATION, INC. FOR PROPERTY MANAGEMENT SERVICES. IT WAS PAID $71,597 DURING 2023. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO AND A COPY IS PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BANYAN CLUB APARTMENTS HOLDING CORP FOLLOWS THE CONFLICT OF INTEREST POLICY OF ITS PARENT, PALM BEACH COUNTY HOUSING AUTHORITY. EMPLOYEES MUST NOT ENGAGE IN ANY ACTIVITIES, TRANSACTIONS OR RELATIONSHIPS THAT ARE INCOMPATIBLE WITH THE IMPARTIAL, OBJECTIVE AND EFFECTIVE PERFORMANCE OF THEIR DUTIES. IN INSTANCES WHERE SUCH ACTIVITIES, TRANSACTIONS OR RELATIONSHIPS OCCUR, THE EMPLOYEE IS EXPECTED TO DISASSOCIATE HIM/HERSELF FROM WORK ON THESE PROGRAMS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. PALM BEACH COUNTY HOUSING AUTHORITY 3432 W 45TH STREET WEST PALM BEACH FL 33407 591296315 LOW INCOME HOUSING FL N/A 0 PALM BEACH COUNTY HOUSING DEVELOPMENT CORPORATION INC 3432 W 45TH STREET WEST PALM BEACH FL 33407 592829873 LOW INCOME HOUSING FL PALM BEACH COUNTY HOUSING AUTHORITY 0 THE SPECTRA ORGANIZATION 3432 W 45TH STREET WEST PALM BEACH FL 33407 592245045 LOW INCOME HOUSING FL 501(C)(3) LINE 6 PALM BEACH COUNTY HOUSING AUTHORITY 0 WESTGATE PLAZA APARTMENTS LTD 3432 W 45TH STREET WEST PALM BEACH FL 33407 273218177 LOW INCOME HOUSING FL N/A 0 0 NEW SOUTH BAY VILLAS LTD 3432 W 45TH STREET WEST PALM BEACH FL 33407 320493839 LOW INCOME HOUSING FL N/A 0 0 NEW SOUTH BAY VILLAS LLC 3432 W 45TH STREET WEST PALM BEACH FL 33407 472157748 LOW INCOME HOUSING FL N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0