2024-05-30T11:38:43-05:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 581743798 COSMO & LEWIS ESTATES INC C/O PENDERGRAPH MANAGEMENT COSM 9197550558 PO BOX 19691 RALEIGH NC 27619 BETTIE BRANCH SECRETARY 9197550558 2024-05-29 1 BETTIE BRANCH 999009999 0 JOSEPH R STROUP P01657031 3178485700 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z BETTIE BRANCH PO BOX 19691 RALEIGH NC 27619 114949 0 X N/A X 1986 NC THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 14 UNIT APARTMENT COMMUNITY FOR THE ELDERLY, HANDICAPPED AND DISABLED IN RALEIGH, NC KNOWN AS COSMO AND LEWIS ESTATES. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD HUD REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HAP CONTRACT PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) UNDER THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, WHILE HUD PAYS THE BALANCE OF THE RENT. 6 6 0 0 0 0 89730 85216 36884 29636 4 6 0 91 126618 114949 0 0 0 0 0 0 0 0 0 111114 146174 111114 146174 15504 -31225 199193 184397 263929 280357 -64736 -95960 X THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 14 UNIT APARTMENT COMMUNITY FOR THE ELDERLY, HANDICAPPED AND DISABLED IN RALEIGH, NC KNOWN AS COSMO AND LEWIS ESTATES. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD HUD REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HAP CONTRACT PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) UNDER THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, WHILE HUD PAYS THE BALANCE OF THE RENT. 0 0 120782 29636 THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 14 UNIT APARTMENT COMMUNITY FOR THE ELDERLY, HANDICAPPED AND DISABLED IN RALEIGH, NC KNOWN AS COSMO AND LEWIS ESTATES. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD HUD REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HAP CONTRACT PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) UNDER THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, WHILE HUD PAYS THE BALANCE OF THE RENT. 120782 1 1 0 0 0 0 0 0 0 0 1 0 1 0 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 0 0 0 0 1 8 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 NC X TERESA NARRON 9197550558 PO BOX 19691 RALEIGH NC 27619 X ALBERT PURCELL DIRECTOR 0.50 X 0 0 0 BETTIE BRANCH SECRETARY 0.50 X X 0 0 0 VELECHIA EGERTON-STEGALL TREASURER 0.50 X X 0 0 0 GENE MCCABE TRUSTEE 0.50 X 0 0 0 MALINDA MCCULLERS TRUSTEE 0.50 X 0 0 0 CLIFTON WINSTON TRUSTEE 0.50 X 0 0 0 0 0 0 0 0 0 0 0 85216 85216 RENTAL INCOME 531110 29636 29636 29636 6 6 LAUNDRY & VENDING 531110 91 91 91 114949 29636 0 97 9030 9030 4714 4714 5022 5022 97442 97442 1020 1020 17836 17836 4530 4530 MGT CO. EMPLOYEE CHARGE 5606 5606 BAD DEBTS EXPENSE 974 974 146174 120782 25392 0 882 0 1014 1788 1029 1165 629691 465164 182363 164527 10639 13885 3266 3032 199193 184397 38861 88188 1178 800 218936 186912 4954 4457 263929 280357 X -64736 -95960 -64736 -95960 199193 184397 -31225 0 X X 1 X 0 1 0 X 94056 96697 97469 89730 85216 463168 28173 29933 32537 36884 29636 157163 122229 126630 130006 126614 114852 620331 0 0 0 620331 46 34 7 4 6 97 46 34 7 4 6 97 1026 109 91 1226 123301 126773 130013 126618 114949 621654 0.99790 0.99760 0.00020 0.00010 X SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52218 52218 526710 436688 90022 50763 28476 22287 164527 RESERVE REPLACEMENT FUND 11285 C RESIDUAL RECEIPTS 2390 C TAX & INSURANCE ESCROW 210 C 13885 SECURITY DEPOSITS 3016 ACCRUED INTEREST PAYABLE 1441 4457 X 114949 0 114949 0 114949 145994 0 145994 179 179 146173 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION EXPENSE DIFFERENCE 179. FORM 990, PART VI, SECTION A, LINE 3 COSMO & LEWIS ESATES, INC. IS MANAGED BY PENDERGRAPH MANAGEMENT, LLC (PENDERGRAPH), A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COSMO & LEWIS ESTATES RECOGNIZES ITS OBLIGATIONS AND THAT IT HAS ULTIMATE RESPONSBILITY FOR THE PROJECT. COSMO & LEWIS ESTATES ENSURES THAT PENDERGRAPH PERFORMS THE DAILY MANAGEMENT OF THE PROJECT UNDER THE TERMS SET FORTH IN ALL AGREEMENTS INCLUDING BUT NOT LIMITED TO ANY HUD AND FHA REGULATORY AGREEMENTS, SECTION 8 HOUSING AGREEMENTS AND MORTGAGE AND LOAN AGREEMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE INDEPENDENT ACCOUNTANT FOWARDS A DRAFT OF FORM 990 TO THE MANAGEMENT COMPANY, WHICH IN TURN DISPERSES A COMPLETE COPY OF THE 990 TO THE BOARD OF DIRECTORS FOR THIER REVIEW. UPON BOARD APPROVAL, THE BOARD PRESIDENT NOTIFIES THE MANAGEMENT COMPANY TO COMMUNICATE APPROVAL TO THE OUTSIDE ACCOUNTANT, WHICH ISSUES A FINAL RETURN FOR THE BOARD PRESIDENT TO SIGN AND FILE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR KEY EMPLOYEES (SEE PAGE 7, PART VII). FORM 990, PART VI, SECTION C, LINE 19 FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FROM 990, PAGE 12, PART XII, QUESTIONS 2C: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM.