2026-09-24T14:42:37-05:00 2025-12-31 141555429 UHY ADVISORS NORTHEAST INC 4 TOWER PLACE EXECUTIVE PARK 7TH FLOOR ALBANY NY 12203 990 2025-01-01 237120738 SOMALTOW HOUSING COMPANY INC SOMA 5184630294 101 S PEARL ST ALBANY NY 12207 GARY HALLOCK PRESIDENT 5184630294 2026-09-22 1 XIAOQIANG ZHANG P01577994 5184493166 2026-09-22 2025 GARY HALLOCK 101 S PEARL ST ALBANY NY 12207 9023501 0 X X 1971 NY LOW INCOME SENIOR HOUSING PROJECT IN ALBANY, NEW YORK. 8 8 24 8 0 0 0 3000 4432371 5749647 119941 212669 0 0 4552312 5965316 0 0 0 0 0 0 0 0 0 5069990 5739379 5069990 5739379 -517678 225937 11897812 12563339 3828 347239 11893984 12216100 X TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES. 0 1 5689210 5749647 TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES. 5689210 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 16 0 1 24 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X KIM HANSEN 5184630294 101 S PEARL ST ALBANY NY 12207 TYLER FRONTE DIRECTOR 0.50 0.50 X 0 0 0 CAREN HICKS DIRECTOR 0.50 0.50 X 0 0 0 ADAM LASEK DIRECTOR 0.50 0.00 X 0 0 0 STEVE REHFUSS DIRECTOR 0.75 0.75 X 0 0 0 GARY HALLOCK PRESIDENT 2.50 2.50 X X 0 0 0 PETER MCKEE VICE-PRESIDENT 1.00 1.00 X X 0 0 0 JOHN SABURRO TREASURER 1.00 1.00 X X 0 0 0 ERIC SPRAGUE SECRETARY 0.50 0.50 X X 0 0 0 KIMBERLY HANSEN EXECUTIVE DIRECTOR 5.00 35.00 X 117795 0 0 117795 0 0 1 0 0 0 BISHOP BEAUDRY CONSTRUCTION LLC 2885 CURRY RD SCHENECTADY NY 12303 REHABILITATION PROJECT 1940754 RIDA ARCHITECTURE PLLC 2022 WESTERN AVE ALBANY NY 12203 ARCHITECTURAL SERVICES 521207 SMITH & HENZY ADVISORY GROUP 1079 SW MULBERRY WAY BOCA RATON FL 33486 DEVELOPER FEES 252951 CHW ATTORNEYS 54 STATE ST ALBANY NY 12207 LEGAL FEES 181671 GORDON BEACH 25 OLD RAVENA RD SELKIRK NY 12158 FLOORING CONTRACTOR 177992 5 3000 3000 LOW-INCOME HOUSING RENTS (SMT LP) 531110 3633374 3633374 DEVELOPER FEE 541610 912015 912015 LOW-INCOME HOUSING RENTS (SMT OWN 531110 663546 663546 MORTGAGE INTEREST 522292 420713 420713 MANAGEMENT FEE 523940 119999 119999 5749647 90787 90787 3180067 3058185 121882 121882 121882 5965316 5749647 0 212669 8068 8068 10119 10119 469852 455537 14315 8951 8951 4216 4216 RENTAL EXPENSES SMT LP 4722140 4722140 RENTAL EXPENSES SMTO LL 469114 469114 LP LOAN NET ADJUSTMENT 42419 42419 DONATIONS 4500 4500 5739379 5689210 50169 0 278373 1113782 2671790 2590376 -11701739 8524559 20649388 334622 11897812 12563339 3828 139819 0 207420 3828 347239 X 11893984 12216100 11893984 12216100 11897812 12563339 X 225937 29778 66401 X 1 X 0 0 0 X 24000 3000 27000 2700410 2950346 3964342 4432371 5749647 19797116 2700410 2950346 3988342 4432371 5752647 19824116 0 554119 551980 1335859 2441958 554119 551980 1335859 2441958 17382158 41106 37148 62487 100770 90787 332298 41106 37148 62487 100770 90787 332298 2741516 2987494 4050829 4533141 5843434 20156414 0.86240 0.91810 0.01650 0.01710 X SCH. A, PART III, LINE 2 PROGRAM REVENUES INCLUDE RENTS RECEIVED IN SOUTH MALL TOWERS ALBANY LP AND SOUTH MALL TOWERS OWNER LLC. 0 INVESTMENT IN SUBSIDIARIES 8524559 C 8524559 DUE TO RELATED PARTY 207420 207420 BISHOP BEAUDRY CONSTRUCTION LLC DIRECTOR LASEK AND EXEC DIRECTOR'S HUSBAND ARE PRINCIPALS IN BB CONST 1940754 REHABILITATION PROJECT 0 EMPLOYEES 2 FAMILY MEMBERS OF EXECUTIVE DIRECTOR 115945 COMPENSATION 0 REHFUSS LAW FIRM DIRECTOR STEVE REHFUSS IS A PRINCIPAL IN THE LAW FIRM 35481 PROFESSIONAL SERVICES 0 FORM 990 - ADDITIONAL INFORMATION SOMALTOW HOUSING COMPANY INC ("SOMALTOW") IS THE SPONSOR OF A LOW-INCOME SENIOR HOUSING PROJECT IN ALBANY, NEW YORK, COMPRISING 345 RENTAL UNITS. THE OPERATIONS OF THE PROJECT UNTIL NOVEMBER 2025 WERE CONDUCTED IN SOUTH MALL TOWERS ALBANY LP, OWNED 99.991% BY SOMALOW. THE OWNERSHIP STRUCTURE WAS REORGANIZED IN 2025 TO TAKE ADVANTAGE OF THE NEW YORK STATE LOW INCOME HOUSING TAX CREDIT AND TO CARRY OUT A FULL REHABILITATION OF THE PROPERTY. FROM NOVEMBER 2025 THE RENTAL OPERATIONS ARE CONDUCTED IN SOUTH MALL TOWERS OWNER LLC, A NEWLY-FORMED ENTITY OWNED 99.99% BY A SINGLE-MEMBER LLC OF WHICH SOMALTOW IS THE SOLE MEMBER AND 0.01% BY A CORPORATION OF WHICH SOMALTOW IS THE SOLE OWNER. IN ANTICIPATION OF THE REORGANIZATION, CUMULATIVE INDEBTEDNESS OF $21,022,170 FROM SOUTH MALL TOWERS ALBANY TO SOMALTOW HOUSING WAS CANCELED. THE RENTAL REVENUES AND EXPENSES PRESENTED IN PARTS VIII AND IX OF FORM 990 RESPECTIVELY INCLUDE THE PASS-THROUGH RENTAL INCOME AND EXPENSES FROM THE LOWER-TIER ENTITIES. FORM 990, PART III, LINE 3 THE PRIMARY EXEMPT PURPOSE AND OPERATIONS OF SOMALTOW HOUSING, PROVIDING LOW-INCOME SENIOR HOUSING, REMAIN UNCHANGED. THERE WERE CHANGES IN 2025 TO THE ORGANIZATIONAL STRUCTURE AS DESCRIBED IN THE NOTE ABOVE. FORM 990, PART VI, SECTION A, LINE 2 OFFICER, DIRECTOR, TRUSTEE, KEY-EMPLOYEE RELATIONSHIPS: DIRECTOR ADAM LASEK AND HUSBAND OF THE EXECUTIVE DIRECTOR HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: A DRAFT COPY OF THE FORM 990 WAS SENT TO THE TREASURER FOR HIS REVIEW AND COMMENTS PRIOR TO A REVIEW BY THE OTHER BOARD MEMBERS. A DRAFT COPY OF THE FORM 990 WAS THEN SENT TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY PROCEDURES: ALL BOARD MEMBERS ARE REQUIRED TO RESPOND TO AN ANNUAL QUESTIONNAIRE REGARDING ANY CONFLICTS OF INTEREST. ANY NOTED CONFLICTS ARE RESOLVED IN A TIMELY MANNER. COPIES OF THE QUESTIONNAIRE ARE MAINTAINED BY THE ORGANIZATION. ANY DIRECTOR OR OFFICER MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ARE REQUIRED TO RECUSE THEMSELVES FOM ANY DECISION ON MATTERS IN WHICH THEY HAVE AN INTEREST. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC ACCESS TO GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS: THESE ARE AVAILABLE ON REQUEST. PART VI, LINE 16 PARTICIPATION IN JOINT VENTURE OR SIMILAR ARRANGEMENT WITH A TAXABLE ENTITY: THE LOW-INCOME RENTAL OPERATIONS ARE CONDUCTED IN LOWER TIER ENTITIES, AS DESCRIBED IN DETAIL IN THE "ADDITIONAL INFORMATION NOTE, ABOVE. FORM 990, PART XI, LINE 9: BAD DEBT RECOVER 66,500. RECONCILIATION ADJUSTMENT -99. SOMALTOW MM LLC 101 S PEARL ST ALBANY NY 12207 334876342 HOLDING COMPANY NY 663546 20532382 SOMALTOW HOUSING CAPITAL HOUSING DEVELOPMENT FUND COMPANY INC 101 S PEARL ST ALBANY NY 12207 880732433 NOMINAL TITLE-HOLDER NY 501(C)(4) SOMALTOW HOUSING 0 SOUTH MALL TOWERS ALBANY LP 101 S PEARL ST ALBANY NY 12207 010747926 LOW INCOME HOUSING NY SOMALTOW HOUSING RENTALS 24618642 1919231 0 0 0.99990 SOUTH MALL TOWERS OWNER LLC 101 S PEARL ST ALBANY NY 12207 334853953 LOW INCOME HOUSING NY SOMALTOW HOUSING RENTALS 663546 20532382 0 0 0.99990 TOWERS HOUSING ALBANY INC 101 S PEARL ST ALBANY NY 12207 020647484 HOLDING COMPANY NY C 0 SOMALTOW SLIHC CORPORATION 101 S PEARL ST ALBANY NY 12207 393163755 HOLDING COMPANY NY SOMALTOW HOUSING C 19 117 1.00000 0 1 1 0 0 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 SOUTH MALL TOWERS ALBANY LP A 420713 MORTGAGE INTEREST ACCRUED SOUTH MALL TOWERS ALBANY LP B 135000 CAPITAL CONTRIBUTION SOUTH MALL TOWERS ALBANY LP E 207420 AMOUNT DUE SOUTH MALL TOWERS ALBANY LP L 119999 MANAGEMENT FEE ACCRUED SOUTH MALL TOWERS OWNER LLC L 912015 DEVELOPER FEE ACCRUED