2024-05-15T17:52:28-04:00 2023-06-30 815081933 PAUL J CHRISTENSEN & ASSOCIATES LLC 2110 AUSTIN AVE WACO TX 76701 990 2022-07-01 751718442 BROWNWOOD MANOR INC BROW 2547530105 112 SOUTH 32ND STREET WACO TX 76710 DEBBIE MORELOCK PRESIDENT 2547530105 2024-05-15 DEBBIE MORELOCK 999009999 false PAUL J CHRISTENSEN CPA P01370407 2547523436 2024-05-15 X 2022 2023-04-26 12:10:37Z DEBBIE MORELOCK 587805 false X X 1981 TX LOW INCOME HOUSING 5 5 4 0 0 567123 565634 276 1467 4412 20704 571811 587805 0 0 90479 83164 0 0 346050 322672 436529 405836 135282 181969 654158 634612 317154 107489 337004 527123 LOW INCOME HOUSING false false 377363 565634 THE OPERATION OF A 51 UNIT LOW INCOME HOUSING PROJECT CONSTRUCTED AND OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. 377363 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 9 0 4 true false false false false false false false false X 5 5 false true false false false false false true true false false false false false false true true false X THE SOVEREIGN MANAGEMENT CORP 2547530105 112 S 32ND STREET WACO TX 76710 X DEBBIE MORELOCK PRESIDENT X 0 0 0 STEPHEN HAYNES VICE PRESIDE X 0 0 0 SUNNI MODAWELL BOARD MEMBER X 0 0 0 BILL SLAYMAKER BOARD MEMBER X 0 0 0 RAY TIPTON BOARD MEMBER X 0 0 0 false false false TENANT RENTS AND FEES 531110 565634 565634 565634 1467 1467 MISCELLANEOUS REVENUE 900099 7482 7482 TENANT CHARGES 7211 7211 LAUNDRY & VENDING 6011 6011 20704 587805 586338 1467 63076 63076 14788 14788 5300 5300 25413 25413 1056 1056 3060 3060 11215 11215 2773 2773 2214 2214 16056 16056 77019 77019 48218 48218 REPAIRS 70533 70533 UTILITIES 58538 58538 BAD DEBTS 6121 6121 TENANT EXPENSES 456 456 405836 377363 28473 0 685 20138 218907 244870 5699 1087 15377 16906 2696357 2344746 413490 351611 654158 634612 25359 8722 768 204 275404 84727 15623 13836 317154 107489 X 337004 527123 337004 527123 654158 634612 181969 8150 X false true X true false X 545147 510225 553654 571535 586338 2766899 545147 510225 553654 571535 586338 2766899 2766899 273 306 272 276 1467 2594 273 306 272 276 1467 2594 545420 510531 553926 571811 587805 2769493 0.99910 0.99950 0.00000 0.00000 X 66772 66772 2238674 2178105 60569 390911 166641 224270 351611 TENANT SECURITY DEPOSITS 13183 INTEREST PAYABLE 653 13836 X 587805 587805 587805 405836 405836 405836 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 JUNE 30, 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 JUNE 30, 2023, THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAXES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2023, THE PROJECT'S TAX YEARS 2020 THROUGH 2022 REMAIN SUBJECT TO EXAMINATION. FORM 990, PAGE 6, PART VI, LINE 3 THE SOVEREIGN MANAGEMENT CORPORATION 112 S. 32ND STREET WACO, TX 76710 FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY MEMBERS OF MANAGEMENT PRIOR TO THE FILING OF THE INFORMATION RETURN WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW AT A REGULAR SCHEDULED MEETING. 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 AVAILABLE UPON REQUEST