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Nonprofiteer
← ARCHWAY INVESTMENT CORPORATION INC

Form 990 for tax year 2023

Filed by ARCHWAY INVESTMENT CORPORATION INC.

Totals

Total revenue
$9,953,290
Total expenses
$1,495,469
Contributions and grants received
$260,576
Grants paid
$0
Program service revenue
$918,168
Investment income
$3,049,734
Other revenue
$5,724,812
Total assets, end of year
$29,100,094
Total liabilities, end of year
$4,929,102
Net assets or fund balances, end of year
$24,170,992
Program services expenses (Part IX)
$1,495,469
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,495,469

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $260,576

  • 2a · Program service revenue: DEVELOPER FEES

    total $695,515 · related or exempt $695,515

  • 2b · Program service revenue: INTEREST ON LOANS

    total $172,652 · related or exempt $172,652

  • 2c · Program service revenue: MANAGEMENT FEES

    total $50,001 · related or exempt $50,001

  • 7a · Gross sales of assets other than inventory

    other assets $25,700,000

  • 7b · Less cost or other basis and sales expenses

    other assets $22,650,266

  • 7c · Gain or loss

    other assets $3,049,734

  • 7d · Net gain or loss

    total $3,049,734 · related or exempt $3,049,734

  • 11a · Other revenue: PARTNERSHIP GAIN

    total $5,671,758 · related or exempt $5,671,758

  • 11b · Other revenue: OTHER INCOME

    total $46,570 · related or exempt $46,570

  • 11c · Other revenue: FORGIVENESS OF DEBT

    total $6,484 · related or exempt $6,484

  • 11e · Other revenue, total

    $5,724,812

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $803,839 · program services $803,839

  • 7 · Other salaries and wages

    total $251,967 · program services $251,967

  • 8 · Pension plan contributions

    total $22,432 · program services $22,432

  • 9 · Other employee benefits

    total $62,573 · program services $62,573

  • 10 · Payroll taxes

    total $82,082 · program services $82,082

  • 11a · Fees: management

    total $105,211 · program services $105,211

  • 11b · Fees: legal

    total $8,950 · program services $8,950

  • 11c · Fees: accounting

    total $30,137 · program services $30,137

  • 11g · Fees: other

    total $25,356 · program services $25,356

  • 12 · Advertising and promotion

    total $855 · program services $855

  • 20 · Interest

    total $59,433 · program services $59,433

  • 22 · Depreciation, depletion and amortization

    total $27,532 · program services $27,532

  • 23 · Insurance

    total $1,779 · program services $1,779

  • 24a · Other expenses: UTILITIES

    total $8,388 · program services $8,388

  • 24b · Other expenses: OPERATING AND MAINTENAN

    total $4,935 · program services $4,935

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,120,747 · end of year $6,376,611

  • 4 · Accounts receivable

    beginning of year $5,330,260 · end of year $11,216,530

  • 7 · Other notes and loans receivable

    beginning of year $10,180,443 · end of year $11,095,262

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,160 · end of year $2,160

  • 10a · Land, buildings and equipment: cost or other basis

    $1,288,977

  • 10b · Land, buildings and equipment: accumulated depreciation

    $114,484

  • 10c · Land, buildings and equipment, net

    beginning of year $1,541,703 · end of year $1,174,493

  • 12 · Investments: other securities

    beginning of year -$1,998,924 · end of year -$764,962

  • 17 · Accounts payable and accrued expenses

    beginning of year $386,522 · end of year $239,936

  • 23 · Secured mortgages and notes payable

    beginning of year $954,457 · end of year $1,298,464

  • 25 · Other liabilities

    beginning of year $2,122,239 · end of year $3,390,702

  • 27 · Net assets without donor restrictions

    beginning of year $15,713,171 · end of year $24,170,992

Mission and programs · 2023

Mission

TO DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND SENIORS.

  • TO DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND SENIORS.

    Expenses $1,495,469 · Revenue $9,953,290

  • N/A

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • Tracy Gargaro

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lee Berg

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Zenzi Reeves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lia Martinez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Libby Comeaux

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Allyson Drayton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrea Weule

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Arnold S Corradino

    EXECUTIVE DIRECTOR

    Total calculated
    $314,383
    From this org
    $0
    From related orgs
    $273,110
    Other
    $41,273
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $273,110 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,273
    Filer's total
    $41,273 + $273,110 related

  • Julianne Stern

    DIRECTOR OF REAL ESTATE

    Total calculated
    $225,386
    From this org
    $0
    From related orgs
    $208,363
    Other
    $17,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $208,363 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,023
    Filer's total
    $17,023 + $208,363 related

  • Sarah Blanchard

    SENIOR DEVELOPMENT MANAGEMENT

    Total calculated
    $186,784
    From this org
    $0
    From related orgs
    $164,949
    Other
    $21,835
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $164,949 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,835
    Filer's total
    $21,835 + $164,949 related

  • Channah Berkowitz

    HOUSING DEVELOPMENT MANAGEMENT

    Total calculated
    $165,068
    From this org
    $0
    From related orgs
    $157,417
    Other
    $7,651
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $157,417 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,651
    Filer's total
    $7,651 + $157,417 related

  • Beth Harris-Robinson

    GENERAL COUNSEL

    Total calculated
    $164,898
    From this org
    $0
    From related orgs
    $146,621
    Other
    $18,277
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,621 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,277
    Filer's total
    $18,277 + $146,621 related

  • Georgeanne Barrett

    DIRECTOR OF COMMUNICATION AND PHILANTHROPY

    Total calculated
    $155,825
    From this org
    $0
    From related orgs
    $137,492
    Other
    $18,333
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $137,492 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,333
    Filer's total
    $18,333 + $137,492 related

  • Kristen Cooper

    CHIEF FINANICAL OFFICER

    Total calculated
    $143,426
    From this org
    $0
    From related orgs
    $137,404
    Other
    $6,022
    Hours/week
    20 + 20 related

  • Sandra Nagler

    DIRECTOR

    Total calculated
    $148,217
    From this org
    $0
    From related orgs
    $138,576
    Other
    $9,641
    Hours/week
    1 + 40 related

  • George Kelly

    CHIEF INVESTMENT OFFICER

    Total calculated
    $146,454
    From this org
    $0
    From related orgs
    $146,454
    Other
    $0
    Hours/week
    20 + 20 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
QUESTION 4A: SEVERANCE PAYMENT OF $47,115 WAS PAID TO JULIANNE STERN DURING 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COLFAX AND GRAY LLC

    RE · CO

  • 16TH AND BEELER LLC

    RE · CO

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ARCHWAY FOUNTAIN RIDGE SOUTH LLC

    RE · CO · 99.99% owned · share of income $240,112 · share of assets $7,415,867 · general or managing partner

  • 40 WEST RESIDENCES LLLP

    RE · CO · 0.01% owned · share of income $66 · share of assets $870,261 · general or managing partner

  • GREENLEAF - VILLA VERDE LLLP

    RE · CO · 99.5% owned · share of income $8,697 · general or managing partner

  • THE FLATS AT TWO CREEKS LLLP

    RE · CO · 0.01% owned · share of income $78 · share of assets $1,922,401 · general or managing partner

  • ARAPAHOE GREEN LLLP

    RE · CO · 99.99% owned · share of income $120,714 · share of assets $3,621,804 · general or managing partner

  • FOOTHILLS GREEN LP

    RE · CO · 0.1% owned · general or managing partner

  • 2275 WADSWORTH LIHTC LLLP

    RE · CO · 0.05% owned · share of income $67 · share of assets $3,058,261 · general or managing partner

  • SHERIDAN RIDGE TOWNHOMES

    RE · CO · 99.9% owned · share of income $233,487 · general or managing partner

  • WILLOW GREEN

    RE · CO · 0.01% owned · share of income $288,435 · general or managing partner

  • PARK HILL CAMPUS LIHTC LLLP

    RE · CO · 0.01% owned · share of assets $10,200,190 · general or managing partner

  • ARCHWAY MONTVIEW MANOR LLC

    RE · CO · 100% owned · share of income $47,985 · share of assets $9,072,722 · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
19 August 2024
IRS schema version
2023v5.1
Source object
202432329349301368

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