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Nonprofiteer
← AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

Form 990 for tax year 2022

Filed by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC.

Totals

Total revenue
$6,935,496
Total expenses
$11,253,967
Contributions and grants received
$0
Grants paid
$5,065,141
Program service revenue
$6,506,684
Investment income
-$100,779
Other revenue
$529,591
Total assets, end of year
$24,157,705
Total liabilities, end of year
$8,686,111
Net assets or fund balances, end of year
$15,471,594
Program services expenses (Part IX)
$9,770,284
Management and general expenses
$1,483,683
Fundraising expenses
$0
Program service expenses (Part III)
$9,770,284

Program services were 86.8% 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.

  • 2a · Program service revenue: MANAGEMENT SERVICES

    total $5,392,067 · related or exempt $5,392,067

  • 2b · Program service revenue: RENTAL REVENUE

    total $1,114,617 · related or exempt $1,114,617

  • 3 · Investment income

    total $6,580 · excluded $6,580

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

    securities $107,359

  • 7c · Gain or loss

    securities -$107,359

  • 7d · Net gain or loss

    total -$107,359 · excluded -$107,359

  • 11a · Other revenue: OTHER REVENUE

    total $529,591 · related or exempt $529,591

  • 11e · Other revenue, total

    $529,591

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,065,141 · program services $5,065,141

  • 5 · Compensation of officers, directors and key employees

    total $347,262 · program services $284,755 · management and general $62,507

  • 7 · Other salaries and wages

    total $2,565,119 · program services $1,862,563 · management and general $702,556

  • 9 · Other employee benefits

    total $681,875 · program services $543,607 · management and general $138,268

  • 10 · Payroll taxes

    total $212,470 · program services $146,830 · management and general $65,640

  • 11b · Fees: legal

    total $90,078 · program services $90,078

  • 11c · Fees: accounting

    total $53,404 · program services $53,404

  • 11g · Fees: other

    total $58,270 · management and general $58,270

  • 12 · Advertising and promotion

    total $373,882 · program services $298,942 · management and general $74,940

  • 13 · Office expenses

    total $528,686 · program services $333,802 · management and general $194,884

  • 16 · Occupancy

    total $81,724 · program services $80,163 · management and general $1,561

  • 17 · Travel

    total $410,269 · program services $328,215 · management and general $82,054

  • 20 · Interest

    total $229,407 · program services $187,110 · management and general $42,297

  • 22 · Depreciation, depletion and amortization

    total $149,952 · program services $149,952

  • 23 · Insurance

    total $99,584 · program services $93,510 · management and general $6,074

  • 24a · Other expenses: REPAIR & MAINTENANCE

    total $241,950 · program services $216,758 · management and general $25,192

  • 24b · Other expenses: TAXES

    total $44,318 · program services $35,454 · management and general $8,864

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $20,576 · management and general $20,576

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $992,196 · end of year $261,257

  • 7 · Other notes and loans receivable

    beginning of year $9,454,007 · end of year $10,092,446

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,335,591 · end of year $599,964

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

    $6,167,634

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

    $1,050,091

  • 10c · Land, buildings and equipment, net

    beginning of year $5,267,495 · end of year $5,117,543

  • 12 · Investments: other securities

    beginning of year $10,508,668 · end of year $6,867,906

  • 15 · Other assets

    beginning of year $2,317,490 · end of year $1,218,589

  • 17 · Accounts payable and accrued expenses

    beginning of year $445,203 · end of year $1,658,394

  • 20 · Tax-exempt bond liabilities

    beginning of year $837,864 · end of year $806,493

  • 24 · Unsecured notes and loans payable

    beginning of year $5,767,206 · end of year $5,669,929

  • 25 · Other liabilities

    beginning of year $3,035,109 · end of year $551,295

  • 27 · Net assets without donor restrictions

    beginning of year $19,790,065 · end of year $15,471,594

Mission and programs · 2022

Mission

TO FACILITATE THE DEVELOPMENT, CONSTRUCTION, MANAGEMENT, AND OPERATION OF AFFORDABLE HOUSING FACILITIES FOR LOW-INCOME ELDERLY AND HANDICAPPED PERSONS.

  • THE CORPORATION MANAGED 91 HOUSING FACILITIES IN 19 STATES. CURRENTLY, ALL 91 OF THE HOUSING FACILITIES PARTICIPATE IN ONE OR MORE PROGRAMS SPONSORED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).

    Expenses $9,770,284 · Grants $5,065,141 · Revenue $7,036,275

As filed on the 2022 return.

Listed in Part VII

  • Konstantine Angelo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Angelo Kostarides

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Theodore Gulas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ellen Platis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tasos Kalantzis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Peter Nassos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael Pikakis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Christ Coumanis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • John Grossomanides

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mark Bullock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • James Gelis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • George Nardone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • John Zourzoukis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Doug Shuck

    VP/SECRETARY, PARTIAL

    Total calculated
    $0
    Hours/week
    40

  • Carl Hollister

    DIRECTOR TERM ENDED 7/22

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • John Miller

    DIRECTOR TERM ENDED 7/22

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Christy Karthan

    DIRECTOR TERM ENDED 7/22

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Panos Niarchos

    DIRECTOR TERM ENDED 7/22

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Steve Beck

    PRESIDENT/CEO

    Total calculated
    $275,754
    From this org
    $250,000
    From related orgs
    $0
    Other
    $25,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $25,754
    Filer's total
    $275,754

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

None.

Answered no

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

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.

  • AHEPA 118 INC

    501(C)(3) · SUPPORTING HOUSING PROJECTS · OH · controlled entity

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • AHEPA NO 23--PHASE II INC

    501(C)(3) · SUPPORTING HOUSING PROJECTS · AL · controlled entity

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • AHEPA 23 PHASE III INC

    501(C)(3) · SUPPORTING HOUSING PROJECTS · AL · controlled entity

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • AHEPA 23 INC

    501(C)(3) · SUPPORTING HOUSING PROJECTS · AL · controlled entity

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

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.

  • AHEPA NORTH MIAMI LLC

    ASSISTED LIVING · IN · income $22,491 · assets $5,772,877

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING SERVICE PROVIDER OF INDIANAPOLIS LLC

    ASSISTED LIVING · IN · income $0 · assets $0

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING SERVICE PROVIDER OF NEW ALBANY LLC

    ASSISTED LIVING · IN · income $0 · assets $0

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING SERVICE PROVIDER OF ELKHART LLC

    ASSISTED LIVING · IN · income $0 · assets $0

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING SERVICE PROVIDER OF MISHAWAKA LLC

    ASSISTED LIVING · IN · income $0 · assets $0

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC LAND DEVELOPMENT LLC

    AFFORDABLE HOUSING · IN · income $0 · assets $0

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

Related partnerships

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

  • HELLENIC SENIOR LIVING OF INDIANAPOLIS LLC

    RELATED · AFFORDABLE HOUSING · IN · 0.01% owned · share of income -$95 · share of assets $2,236,127 · general or managing partner

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING OF MISHAWAKA LLC

    RELATED · AFFORDABLE HOUSING · IN · 0.01% owned · share of income -$75 · share of assets $1,811 · general or managing partner

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING OF NEW ALBANY LLC

    RELATED · AFFORDABLE HOUSING · IN · 0.01% owned · share of income -$30 · share of assets $951,596 · general or managing partner

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING OF ELKHART LLC

    RELATED · AFFORDABLE HOUSING · IN · 0.01% owned · share of income -$125 · share of assets $975,081 · general or managing partner

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HELLENIC SENIOR LIVING - INDIANAPOLIS MM INC

    C · ASSISTED LIVING MANAGING MEMBER · IN · 100% owned · share of income -$95 · share of assets -$519

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING - MISHAWAKA MM INC

    C · ASSISTED LIVING MANAGING MEMBER · IN · 100% owned · share of income -$75 · share of assets -$402

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING - NEW ALBANY MM INC

    C · ASSISTED LIVING MANAGING MEMBER · IN · 100% owned · share of income -$30 · share of assets -$345

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC SENIOR LIVING - ELKHART MM INC

    C · ASSISTED LIVING MANAGING MEMBER · IN · 100% owned · share of income -$125 · share of assets -$660

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC MANAGEMENT INC

    C · MANAGEMENT & OPERATION OF AFFORDABLE HOUSING · IN · 100% owned · share of income -$16,053 · share of assets $551,340

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

  • HELLENIC DEVELOPMENT INC

    C · DEVELOPMENT & OPERATION OF AFFORDABLE HOUSING · IN · 100% owned

    Directly controlled by AHEPA AFFORDABLE HOUSING MANAGEMENT COMPANY INC

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202313129349304081

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