2025-10-31T00:00:28-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 621 CAPITOL MALL SUITE 2150 SACRAMENTO CA 95814 990 2024-01-01 770267648 WASHINGTON STREET RESIDENTS ASSOCIATION WASH 3038303300 1600 BROADWAY SUITE 2000 DENVER CO 802025704 CHAD PAYNE TREASURER 3038303300 2025-10-29 1 1 JOLANTA TUCK P01340068 9164429100 2025-10-28 2024 2025-03-06 01:10:19Z JUAN REYNA JR 1600 BROADWAY SUITE 2000 DENVER CO 802025704 88022 0 X WWW.MERCYHOUSING.ORG X 1990 CA THE ASSOCIATION'S EXEMPT FUNCTION AND PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AS A LIMITED EQUITY COOPERATIVE TO LOW-INCOME FAMILIES. 1 1 0 1 0 0 0 0 78720 87928 29 16 450 78 79199 88022 0 0 0 0 0 0 0 0 0 127867 114242 127867 114242 -48668 -26220 319278 279556 1267161 1253659 -947883 -974103 THE ASSOCIATION'S EXEMPT FUNCTION AND PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AS A LIMITED EQUITY COOPERATIVE TO LOW-INCOME FAMILIES. 0 0 105273 88006 THE ASSOCIATION'S EXEMPT FUNCTION AND PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AS A LIMITED EQUITY HOUSING COOPERATIVE TO LOW- OR VERY LOW-INCOME FAMILIES AS DEFINED BY CALIFORNIA DEPARTMENT OF HOUSING. 105273 1 0 0 0 0 0 0 0 1 0 1 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X CHAD PAYNE 3038303300 1600 BROADWAY SUITE 2000 DENVER CO 802025704 X JUAN REYNA JR PRESIDENT 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 NET RENTAL REVENUE 531110 87928 87928 87928 16 16 78 78 78 88022 88006 0 16 4824 4824 8969 8969 1072 1072 2625 2625 76257 76257 19553 19553 BAD DEBTS 892 892 TAXES/LICENSES/PERMITS 50 50 114242 105273 8969 0 16235 8677 6288 7397 725273 585445 159381 139828 86413 137374 37241 319278 279556 548324 537171 903 9800 10955 709037 704630 1267161 1253659 X -947883 -974103 -947883 -974103 319278 279556 -26220 0 X 0 1 X 0 0 X 80847 80605 71238 78720 87928 399338 80847 80605 71238 78720 87928 399338 0 0 0 399338 87 61 35 29 16 228 87 61 35 29 16 228 450 78 528 80934 80666 71273 79199 88022 400094 0.99810 0.99810 0.00060 0.00080 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2023 AMOUNT: $ 450. 2024 AMOUNT: $ 78. 0 1 X 722648 582820 139828 2625 2625 0 139828 MISC CURRENT ASSETS 5666 TENANT DEPOSITS 11454 RESERVE FOR REPLACEMENTS 5088 RESIDUAL RECEIPTS RESERVE 30 OTHER RESERVES 15003 37241 X 88022 0 88022 0 88022 114242 0 114242 0 114242 PART IV, LINE 2B: THE CORPORATION OBTAINS SECURITY DEPOSITS FROM EACH TENANT, PURSUANT TO SPECIFIC LEASE AGREEMENTS. THESE DEPOSITS ARE HELD IN A SEPARATE, FEDERALLY INSURED ACCOUNT, AND ARE EITHER REFUNDED TO THE TENANTS UPON TERMINATION OF TENANCY OR USED TO OFFSET RENTS OR REPAIR COSTS. PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN. FORM 990, PART VI, SECTION A, LINE 3 THE PROPERTY IS MANAGED BY MERCY HOUSING MANAGEMENT GROUP ("MHM"), AN AFFILIATE OF THE CORPORATION, PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. THE CURRENT MANAGEMENT AGREEMENT PROVIDES FOR A MANAGEMENT FEE OF $44 PER UNIT PER MONTH FOR MANAGING THE OPERATIONS OF THE PROPERTY. SUCH FEES CHARGED TO ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2024 WAS $4,224. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS ARE TENANTS OF THE DEVELOPMENT AND SHALL CONSIST OF SUCH PERSONS WHO HAVE BEEN APPROVED FOR MEMBERSHIP BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER IS GIVEN THE OPPORTUNITY TO REVIEW THE RETURN BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS PERIODICALLY THE CONFLICT OF INTEREST DISCLOSURES AND DETERMINES WHETHER ANY ACTION IS REQUIRED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.