2025-08-14T16:30:50-07:00 2024-09-30 990 2023-10-01 593598686 ONIC-HIDDEN COVE INC ONIC 4076481623 500 Delaney Avenue Suite 303 Orlando FL 32801 Alfred Arzuaga President 4076481623 2025-08-14 1 2023 2025-03-06 01:10:19Z X Alfred Arzuaga 500 Delaney Avenue Suite 303 Orlando FL 32801 14917781 0 X X 1999 FL To provide affordable housing. X 9 9 0 9 0 0 179651 0 1169901 67035 1370 10763894 0 0 1350922 10830929 0 2750000 0 0 254938 16923 0 0 0 1102815 59218 1357753 2826141 -6831 8004788 4247669 9297367 3282191 327101 965478 8970266 X To provide affordable housing. 0 1 76141 0 67035 Operation of a 128 unit affordable housing complex. All 128 units are rent and income restricted. 2750000 2750000 0 Support of Orlando Neighborhood Improvement Corp, a related 501(c)(3) organization, in support of its efforts to foster affordable housing opportunities. 0 0 0 2826141 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X V Scott 4076481623 500 Delaney Avenue Suite 303 Orlando FL 32801 Alfred Arzuaga President 1 44 X 0 139966 31151 Victoria Scott VP of finance 1 44 X 0 148112 7406 Alexis Collins VP of Resident Services 1 44 X 0 127732 7962 Ericka Dunlap Chair 0.3 1.7 X X 0 0 0 Cindy Colvin Vice Chair 0.3 1.7 X X 0 0 0 Milton Carroll Jr Secretary / Treasurer 0.3 1.7 X X 0 0 0 Ralph Armstead Director 0.3 1.7 X 0 0 0 Eddie Brown Director 0.3 1.7 X 0 0 0 Derek Burke Director 0.3 1.7 X 0 0 0 Kimberly Pizarro Cruz Director 0.3 1.7 X 0 0 0 Cathy Sterba Director 0.3 1.7 X 0 0 0 Craig Ridinger Director 0.3 1.7 X 0 0 0 0 415810 46519 0 0 1 0 Intellectual Design Inc 8500 Parkline Boulevard Suite 100 Orlando FL 32809 Renovation contractor 123651 1 0 0 0 0 0 0 0 0 Rental and Ancillary Income Affordable Housing 624229 67035 67035 0 0 0 0 0 0 67035 746 0 0 746 0 0 0 0 0 0 0 0 0 0 0 14850000 0 4086852 0 10763148 10763148 0 0 10763148 0 0 10830929 67035 0 10763894 2750000 2750000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13919 13919 0 0 0 0 0 0 1985 1985 0 0 1019 1019 0 0 3126 3126 0 0 792 792 0 0 105 105 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55 55 0 0 7402 7402 0 0 173 173 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4780 4780 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Property Repairs & Maintenance 18616 18616 0 0 Common Area Utilities 6732 6732 0 0 Replacements & Improvements 17437 17437 0 0 0 0 0 0 2826141 2826141 0 0 X 0 0 0 0 433910 0 4870 0 9297367 127199 0 0 0 3671950 0 9740 0 4247669 9297367 34409 1603 1503 38571 2799028 408680 325498 3282191 327101 X 965478 8970266 0 0 965478 8970266 4247669 9297367 8004788 0 0 0 0 0 X 0 1 X 1 1 1 X X 1 Orlando Neighborhood Improvement Corporation 592669952 7 1 2750000 0 1 2750000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Due to ONIC 325498 325498 X Schedule D, Part X, Line 2 This entity is included in the consolidated audited financial statements of Orlando Neighborhood Improvement Corporation (ONIC). The text in ONIC's financial footnotes reads as follows: ONIC is exempt from federal income tax under provision of Section 501(c)(3) of the Internal Revenue Code. In addition, ONIC has been determined by the Internal Revenue Service not to be a private foundation within the meaning of Section 509(a) of the code. Consequently, no provision for income taxes has been included in the accompanying financial statements. In accordance with "Income Taxes" FASB Accounting Standards Codification Topic 740 (Topic 740), all entities are required to evaluate and disclose income tax risks. Topic 740 clarifies the accounting for uncertainty in tax positions and prescribes guidance related to the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The tax benefit from an uncertain tax position is only recognized in the statement of financial position if the tax position is more likely than not to be sustained upon an examination, based on the technical merits of the position. Interest and penalties, if any, are included in expenses in the statement of activities. As of September 30, 2024, ONIC had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. ONIC's income tax returns are subject to review and examination by federal authorities. ONIC is not aware of any activities that would jeopardize its tax-exempt status. ONIC is not aware of any activities that are subject to tax on unrelated business income, excise or other taxes. The tax returns for the fiscal years ended from 2021 to 2024 are open to examination by federal authorities. 1 Orlando Neighborhood Improvement Corporation 500 Delaney Avenue Suite 303 Orlando FL 32801 592669952 501(c)(3) 2750000 To support the charitable activities of the organization. 1 0 Schedule I, Part I, Line 2 All grants are made to a related organization, Orlando Neighborhood Improvement Corp, in support of its charitable mission. These grants are unrestricted and this entity does not perform any additional monitoring of the usage of these funds. X X X 0 0 0 0 0 0 0 0 0 Alfred Arzuaga President 0 139966 0 0 0 0 0 7555 0 23596 0 171117 0 0 Victoria Scott VP of finance 0 148112 0 0 0 0 0 7406 0 0 0 155518 0 0 Schedule J, Part I, Line 3 This entity does not compensate any of its officers or directors. However, this entity is related to Orlando Neighborhood Improvement Corporation (ONIC). ONIC's compensation levels are reviewed and approved annually by the Executive Committee. As part of this review, the committee reviews compensation surveys for comparable positions. ONIC-Hidden Cove owned a 128 unit apartment community built in 1972 that provided affordable housing and services to community residents. Due to the property's age, ONIC-Hidden Cove determined that the Apartments required a comprehensive renovation and that the best option for accomplishing this would be the redevelopment of the Apartments using bonds and 4% tax credits. To accomplish this, ONIC-Hidden Cove sold the property to a new entity, 4900 S. Rio Grande Avenue, LP for a sales price equal to appraised value. Consideration was paid in a combination of cash (sufficient to pay off existing debt), an assumption of certain loans, and a seller note. A related organization, ONIC, is serving as developer of the Project and majority member of the GP entity for 4900 S. Rio Grande Avenue, LLP. The newly renovated apartments will continue to provide affordable housing to the community. 2023-10-27 14850000 The sales price was based on an independent appraisal of the site 923092701 4900 S RIO GRANDE AVENUE LP 500 Delaney Avenue Suite 303 Orlando FL 32801 1 0 0 0 Schedule N, Part II, Line 2 Alfred Arzuaga, president of ONIC-Hidden Cove, serves as president of ONIC-Cove GP LLC, managing member of 4900 S Rio Grande Avenue LP. Form 990, Part III, Line 3 As disclosed on Schedule N, the organization sold Hidden Cove Apartments to a related partnership in order to accomplish a comprehensive renovation of the property, which will continue to be operated as affordable housing. The board of ONIC-Hidden Cove intends to continue operations and is actively considering the functions it will play with respect to affordable housing. ONIC-Hidden Cove will continue to coordinate with ONIC regarding other activities ONIC-Hidden Cove could engage in to support ONIC. Form 990, Part VI, Section B, Line 11b Form 990 was distributed to all officers and directors for review and comment prior to filing. Form 990, Part VI, Section B, Line 12c Annual disclosure forms are reviewed carefully and a listing of potentially conflicted entities and individuals is maintained. Proposed transactions are matched against the listing as a means of identifying potential conflicts. Form 990, Part VI, Section B, Line 15 This entity does not compensate any of its officers or directors. However, this entity is related to Orlando Neighborhood Improvement Corporation (ONIC). ONIC's compensation levels are reviewed and approved annually by the Executive Committee. As part of this review, the committee reviews compensation surveys for comparable positions. Form 990, Part VI, Section C, Line 19 This entity is related to Orlando Neighborhood Improvement Corp (ONIC).These items are available to the public upon request; in addition, consolidated financial statements for ONIC and its affiliates are posted on cffound.org (a website that is maintained by the Central Florida Foundation) and at candid.org (a website that is maintained by Candid). Orlando Neighborhood Improvement Corp 500 Delaney Avenue Suite 303 Orlando FL 32801 592669952 To foster increased affordable housing opportunities FL 501(c)(3) 170(b)(1)(A)(vi) N/A 0 Anvil-Richard Allen Gardens 500 Delaney Avenue Suite 303 Orlando FL 32801 593411351 To provide affordable housing FL 501(c)(3) 170(b)(1)(A)(vi) Orlando Neighborhood Improvement Corp 0 ONIC-Senior Affordable Housing Inc 500 Delaney Avenue Suite 303 Orlando FL 32801 300024593 To provide affordable housing FL 501(c)(3) 509(a)(3) Orlando Neighborhood Improvement Corp 0 Orlando Neighborhood Improvement Foundation Inc 500 Delaney Avenue Suite 303 Orlando FL 32801 992326527 To support increased affordable housing opportunities FL 501(c)(3) application pending Orlando Neighborhood Improvement Corp 0 414 East Pine Street LP 500 Delaney Avenue Suite 303 Orlando FL 32801 832814629 To provide affordable senior housing FL N/A 4900 S Rio Grande Avenue LP 500 Delaney Avenue Suite 303 Orlando FL 32801 923092701 To provide affordable housing FL N/A 5465 Curry Ford LP 500 Delaney Avenue Suite 303 Orlando FL 32801 923336416 To provide affordable housing FL N/A Seville Place Preservation LLC 2850 TIGERTAIL AVE STE 800 MIAMI FL 33133 271302095 To provide affordable housing FL N/A ONIC-Seville Place LLC 500 Delaney Avenue Suite 303 Orlando FL 32801 453966725 To provide affordable housing FL N/A C ONIC-Emerald Villas Phase Two 500 Delaney Avenue Suite 303 Orlando FL 32801 821074672 To provide affordable housing FL N/A C ONIC-Cove GP LLC 500 Delaney Avenue Suite 303 Orlando FL 32801 923069622 To provide affordable housing FL N/A C ONIC-Brook GP LLC 500 Delaney Avenue Suite 303 Orlando FL 32801 923314945 To provide affordable housing FL N/A C 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 Orlando Neighborhood Improvement Corp b 2750000 Cash payment 4900 S Rio Grande Avenue LP g 14850000 Independent appraisal 4900 S Rio Grande Avenue LP d 9297367 Fair value of loan Orlando Neighborhood Improvement Corp p 83182 fair value (reimbursement for insurance premium paid to third party)