2025-10-14T13:03:19-05:00 2024-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2024-01-01 912152913 HABIBI TERRACE INC HABI 3232311104 3460 S BROADWAY LOS ANGELES CA 90007 AUTHORIZED AGENT PRESIDENT 3232311104 2025-10-13 1 0 JOSEPH R STROUP P01657031 3178485700 2024 2025-03-06 01:10:19Z ANA PONCE 3460 S BROADWAY LOS ANGELES CA 90007 795836 0 X N/A X 2001 CA TO PROVIDE HANDICAPPED AND ELDERY PERSONS WITH HOUSING FACILITIES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS. 7 7 2 7 0 0 212841 439285 327977 329641 16513 11966 5222 14944 562553 795836 0 0 0 0 48144 51875 0 0 0 1023841 1165845 1071985 1217720 -509432 -421884 6578983 6181281 14536118 14559415 -7957135 -8378134 TO PROVIDE HANDICAPPED AND ELDERLY PERSONS WITH HOUSING FACILITIES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS. 0 0 1052630 329641 HABIBI TERRACE, INC. (A CALIFORNIA NOT-FOR-PROFIT CORPORATION) WAS FORMED ON AUGUST 17, 2001, TO CONSTRUCT, OWN AND OPERATE A 75 UNIT RENTAL HOUSING PROJECT FOR ELDERLY IN RIVERSIDE COUNTY, CALIFORNIA, KNOWN AS SAHARA SENIOR VILLA (THE PROPERTY), PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED. THE CORPORATION HAS EXECUTED A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WHICH GOVERNS THE OPERATION OF THE PROPERTY WITH RESPECT TO RENTAL CHARGES, OPERATING METHODS, AND FINANCIAL REPORTING. 1052630 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 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 1 0 0 0 1 9 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 CA X HDSI MANAGEMENT 3232311104 3460 S BROADWAY LOS ANGELES CA 90007 X ANA PONCE PRESIDENT 2.00 18.00 X X 0 0 0 KELLY BOYER VICE PRESIDENT 0.00 5.00 X X 0 0 0 EDWARD JOHNSON ESQ TREASURER 0.00 5.00 X X 0 0 0 QUAFORD COLEMAN SECRETARY 0.00 5.00 X X 0 0 0 RICHARD WASHINGTON DIRECTOR 0.00 5.00 X 0 0 0 JOHNATHAN WILLIAMS DIRECTOR 0.00 5.00 X 0 0 0 REGINA DOBBINS DIRECTOR 0.00 5.00 X 0 0 0 0 0 0 0 0 0 0 0 439285 439285 RENTAL INCOME 531110 329641 329641 329641 11966 11966 LAUNDRY AND VENDING 812300 14944 14944 14944 795836 329641 0 26910 32377 32377 12642 12642 6856 6856 53475 53475 1238 1238 22150 22150 19469 19469 245145 229095 16050 48000 48000 489888 489888 6476 6476 CONTRACTS 170073 170073 REPAIRS AND MAINTENANCE 85005 85005 BAD DEBTS 20331 20331 TAXES AND LICENSES 3943 3943 652 652 1217720 1052630 165090 0 1 147889 498270 0 4514 4009 34688 19350 13570654 8018143 6041510 5552511 430033 0 27489 6578983 6181281 881176 24387 936 13631300 14509782 23642 24310 14536118 14559415 X -7957135 -8378134 -7957135 -8378134 6578983 6181281 X -421884 885 X X 0 1 X 1 1 1 X 11819 246672 212841 439285 910617 528254 532921 291954 327977 329641 2010747 528254 544740 538626 540818 768926 2921364 0 0 0 2921364 2874 614 1976 16513 11966 33943 2874 614 1976 16513 11966 33943 5157 5222 14944 25323 531128 545354 545759 562553 795836 2980630 0.98010 0.98510 0.01140 0.01110 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 431542 431542 12877276 7814601 5062675 261836 203542 58294 5552511 ESCROW DEPOSITS 19585 C RESERVE FOR REPLACEMENTS 349757 C EXCESS AMENITIES ESCROW 51075 C RESIDUAL RECEIPTS RESERVE 9616 C 430033 TENANT SECURITY DEPOSITS 24310 24310 X 795836 0 795836 0 795836 1216835 0 1216835 885 885 1217720 PART X, LINE 2: THE ORGANIZATION HAS RECEIVED TAX-EXEMPT STATUS FROM THE INTERNAL REVENUE SERVICE AND THE CALIFORNIA FRANCHISE TAX BOARD UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. AS A NOT-FOR-PROFIT ENTITY, THE ORGANIZATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX, IF APPLICABLE. IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION ("ASC") 740, INCOME TAXES, THE ORGANIZATION APPLIES THE "MORE LIKELY THAN NOT" THESHOLD TO THE RECOGNITION AND DERECOGNITION OF TAX POSITIONS FOR ITS FINANCIAL STATEMENTS. MANAGEMENT HAS REVIEWED ALL OPEN TAX YEARS AND JURISDICTIONS AND CONCLUDED THAT NO ADJUSTMENTS ARE NECESSARY DUE TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S POLICY IS TO INCLUDE ACCRUED INTEREST AND PENALTIES FROM UNCERTAIN TAX POSITIONS IN OPERATING EXPENSES. THERE WERE NO ACCRUED INTEREST OR PENALTIES FOR THE YEAR ENDED DECEMBER 31, 2023. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION EXPENSE DIFFERENCE 885. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY, BY RESOLUTION, DESIGNATE ONE OR MORE COMMITTEES, EACH CONSISTING OF TWO OR MORE DIRECTORS, TO SERVE AT THE PLEASURE OF THE BOARD. ANY COMMITTEE, TO THE EXTENT PROVIDED IN THE RESOLUTOIN OF THE BOARD, MAY ACT FOR THE BOARD. FORM 990, PART VI, SECTION A, LINE 3 MAJOR DECISIONS REQUIRE BOARD APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS EXPLAINED TO THE BOARD BEFORE FILING. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BOOK/TAX DIFFERENCE IN DEPRECIATION OF ASSETS 885. FORM 990, PART XII LINE 2C THIS IS CONSISTENT WITH PRIOR YEAR. SAHURE SENIOR VILLA INC 3460 S BROADWAY LOS ANGELES CA 90007 510666913 PROVIDE HOUSING FOR LOW INCOME AND ELEDERLY PERSONS CA 501(C)(3) LINE 10 0 VAN BUREN APARTMENTS INC 3460 S BROADWAY LOS ANGELES CA 90007 912152908 PROVIDE LOW INCOME HOUSING CA 501(C)(3) LINE 10 0 WASET INC 3460 S BROADWAY LOS ANGELES CA 90007 954354411 SPONSOR AND ASSIST IN THE ACQUISITION AND DEVELOPMENT OF LOW-INCOME HOUSING CA 501(C)(3) LINE 10 0 VILLA ST ANDREWS COMMUNITY ASSOCIATION 3460 S BROADWAY LOS ANGELES CA 90007 954583273 PROVIDE HOUSING FOR LOW INCOME AND ELEDERLY PERSONS CA 501(C)(3) LINE 10 0 FIESTA HOUSE SENIOR HOUSING INC 3460 S BROADWAY LOS ANGELES CA 90007 954591001 PROVIDE HOUSING FOR LOW INCOME AND ELEDERLY PERSONS CA 501(C)(3) LINE 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0