2025-07-31T15:05:07-05:00 2024-12-31 582487348 Aprio Advisory Group LLC 2002 Summit Boulevard Suite 120 Atlanta GA 30319 990 2024-01-01 271073169 Rosewood Cordele Development Inc ROSE 7704319696 2730 Cumberland Boulevard Smyrna GA 30080 Renee Sandell Vice President 7704319696 2025-07-31 1 1 Stacy Cullen P00974308 4048929651 2025-07-31 2024 2025-03-06 01:10:19Z Mark Du Mas 2730 Cumberland Boulevard Smyrna GA 30080 584350 0 X n/a X 2009 GA To acquire, construct, own and operate a 56-unit rental housing facility for low-income residents known as Rosewood Estates located in Cordele Georgia. 3 3 0 3 0 0 0 0 496219 565021 16640 19329 51837 0 564696 584350 0 0 0 0 150093 163195 0 0 0 668196 721838 818289 885033 -253593 -300683 6607808 6398496 1256225 1347596 5351583 5050900 To acquire, construct, own and operate a 56-unit rental housing facility for low-income residents known as rosewood estates located in Cordele Georgia. 0 0 860803 565021 The organization owns and operates a 56-unit rental facility for self-sufficient low-income residents. 860803 1 0 0 0 0 0 0 0 0 0 1 0 0 1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 GA X Mark Du Mas 7704319696 2730 Cumberland Boulevard Smyrna GA 30080 X Mark Du Mas President 1.00 X X 0 0 0 R Hunt Dunlap Seretary 1.00 X X 0 0 0 Julie Bowen Director 1.00 X 0 0 0 0 0 0 0 0 0 0 0 Rental Income 531110 538336 538336 Other Tenant Charges 531110 26685 26685 565021 19329 19329 584350 565021 0 19329 118054 118054 3275 3275 32889 32889 8977 8977 24230 24230 1598 1598 12350 12350 4511 4511 2296 2296 10004 10004 47224 47224 2414 2414 44571 44571 297136 297136 60140 60140 Operating and Maintenan 76757 76757 Bad Debt Expense 64698 64698 Property Taxes 57926 57926 Admistrative Expense 15983 15983 885033 860803 24230 0 169700 207000 25664 37482 13517 11112 9595361 3924873 5941212 5670488 52519 26107 405196 446307 6607808 6398496 22572 30583 2675 4134 649100 649400 581878 663479 1256225 1347596 X 5351583 5050900 5351583 5050900 6607808 6398496 -300683 0 X 0 1 X 0 0 X 450580 483025 448095 496219 565021 2442940 450580 483025 448095 496219 565021 2442940 0 0 0 2442940 936 1 4849 16640 19329 41755 936 1 4849 16640 19329 41755 51837 51837 451516 483026 452944 564696 584350 2536532 0.96310 0.96670 0.01650 0.01120 X 302377 302377 9292984 3924873 5368111 5670488 Tenant Security Deposits 19712 Property Tax Escrow 7085 Mortgage Escrow 283603 Operating Reserve 116171 Compliance Reserve 19736 446307 Accrued Interest on Note Payable 497743 Security Deposit Liability 19712 Accrued Develoment Fee 61239 Due to Sponsor 16235 Accrued Real Estate Taxes 68550 663479 X 862820 278470 278470 584350 0 584350 928503 43470 43470 885033 0 885033 Part X, Line 2: The Organization has been classified as a public charity and is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and state taxes under the provisions of the Georgia not-for-profit corporation code, and accordingly, no provision for income taxes has been provided. The Organization is no longer subject to income tax examinations for calendar years prior to 2021. Part XI, Line 2d - Other Adjustments: Annual amortization of the section 1602 grant for book purposes 235,000. Legal Revenue netted with Legal Expense 1,434. Utility reimursement revenue netted with Utility Expense 31,165. Administrative Revenue netted with Admiistrative Expense 1,421. Operating Revenue netted with Operating Expense 9,450. Part XII, Line 2d - Other Adjustments: Legal Revenue netted with Legal Expense 1,434. Utility reimursement revenue netted with Utility Expense 31,165. Administrative Revenue netted with Admiistrative Expense 1,421. Operating Revenue netted with Operating Expense 9,450. Form 990, Part I, Line 8, Grant Funding The organization Securred Arra section 1602 grant funding of $9,400,000 through the Georgia housing and finance authority of which $7,226,618 was drawn in 2010 and the remaining balance of $2,173,382 was drawn in 2011 for the construction of rosewood estates which is a 56-unit rental apartment facility for low-income individuals and families in Cordele, Georgia. The construction of the facility was completed as of January 11, 2011. The organization is required by the section 1602 grant to remain compliant with the program guidelines for a period of fifteen years. Form 990, Part VI, Section A, line 8b The organization does not have committees with the authority to act on behalf of the board. Form 990, Part VI, Section B, line 11b The President reviews and approves the form 990 prior to its filing. Form 990, Part VI, Section B, line 12c Officers and directors are reminded of this policy at each board meeting and are asked to disclose any potential conflicts of interest for discussion by the board. Form 990, Part VI, Section C, line 19 The documents are available upon request. Form 990, Part VI, Section B, Line 15 The Organization has no paid employees or Officers. Directors and Officers serve in a volunteer capacity and are not compensated for their services. Paces Foundation Inc 2730 Cumberland Boulevard Smyrna GA 30080 581949667 Affordable Housing GA 501(C)(3) PF No 0 Waterford Dublin Development Inc 2730 Cumberland Boulevard Smyrna GA 30080 271073302 Affordable Housing GA 501(C)(3) Line 10 No 0 Galleria Manor Senior Development Inc 2730 Cumberland Boulevard Smyrna GA 30080 300606247 Affordable Housing GA 501(C)(3) Line 10 No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Paces Foundation Q 17963 Actual amount