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Nonprofiteer
← BROTHERS REDEVELOPMENT INC

Form 990 for tax year 2023

Filed by BROTHERS REDEVELOPMENT INC.

Totals

Total revenue
$31,223,855
Total expenses
$28,865,299
Contributions and grants received
$21,346,506
Grants paid
$0
Program service revenue
$9,335,084
Investment income
$255,823
Other revenue
$286,442
Total assets, end of year
$43,361,919
Total liabilities, end of year
$22,352,634
Net assets or fund balances, end of year
$21,009,285
Program services expenses (Part IX)
$25,108,144
Management and general expenses
$3,757,155
Fundraising expenses
$0
Program service expenses (Part III)
$25,108,144

Program services were 87.0% 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)

    $19,274,636

  • 1f · All other contributions, gifts and grants

    $2,071,870

  • 1g · Noncash contributions included above

    $27,378

  • 2a · Program service revenue: TENANT RENT

    total $4,774,796 · related or exempt $4,774,796

  • 2b · Program service revenue: PROPERTY MANAGEMENT FEES

    total $4,560,288 · related or exempt $4,560,288

  • 3 · Investment income

    total $255,823 · excluded $255,823

  • 11a · Other revenue: MISC REVENUE

    total $274,072 · excluded $274,072

  • 11b · Other revenue: CELL TOWER RENTS

    total $12,370 · unrelated business $12,370

  • 11e · Other revenue, total

    $286,442

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $196,200 · program services $147,862 · management and general $48,338

  • 7 · Other salaries and wages

    total $5,995,861 · program services $4,518,668 · management and general $1,477,193

  • 11a · Fees: management

    total $242,393 · management and general $242,393

  • 11g · Fees: other

    total $473,956 · program services $291,119 · management and general $182,837

  • 12 · Advertising and promotion

    total $95,400 · program services $76,414 · management and general $18,986

  • 13 · Office expenses

    total $284,366 · program services $110,799 · management and general $173,567

  • 16 · Occupancy

    total $2,670,041 · program services $2,653,256 · management and general $16,785

  • 19 · Conferences, conventions and meetings

    total $33,294 · program services $23,549 · management and general $9,745

  • 20 · Interest

    total $917,207 · program services $917,207

  • 22 · Depreciation, depletion and amortization

    total $634,824 · program services $626,678 · management and general $8,146

  • 23 · Insurance

    total $1,560,405 · program services $1,311,162 · management and general $249,243

  • 24a · Other expenses: PROGRAM SERVICES

    total $15,332,341 · program services $14,278,470 · management and general $1,053,871

  • 24b · Other expenses: MISCELLANEOUS

    total $410,441 · program services $136,071 · management and general $274,370

  • 24c · Other expenses: EQUIPMENT MAINTENANCE

    total $18,570 · program services $16,889 · management and general $1,681

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,236,510 · end of year $6,834,975

  • 2 · Savings and temporary cash investments

    beginning of year $2,396,374 · end of year $2,213,193

  • 4 · Accounts receivable

    beginning of year $8,382,938 · end of year $7,408,161

  • 7 · Other notes and loans receivable

    beginning of year $8,439,733 · end of year $8,634,299

  • 9 · Prepaid expenses and deferred charges

    beginning of year $180,911 · end of year $216,437

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

    $20,289,185

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

    $7,006,657

  • 10c · Land, buildings and equipment, net

    beginning of year $13,756,360 · end of year $13,282,528

  • 12 · Investments: other securities

    beginning of year $2,304,998 · end of year $2,336,461

  • 15 · Other assets

    beginning of year $2,441,715 · end of year $2,435,865

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,801,400 · end of year $3,404,891

  • 19 · Deferred revenue

    beginning of year $1,216,025 · end of year $909,919

  • 23 · Secured mortgages and notes payable

    beginning of year $20,020,038 · end of year $17,935,442

  • 25 · Other liabilities

    beginning of year $104,719 · end of year $102,382

  • 27 · Net assets without donor restrictions

    beginning of year $19,997,357 · end of year $20,068,805

  • 28 · Net assets with donor restrictions

    end of year $940,480

Mission and programs · 2023

Mission

TO PROVIDE SAFE, AFFORDABLE, ACCESSIBLE HOUSING AND HOUSING SERVICES FOR THE LOW-INCOME, ELDERLY AND DISABLED OF COLORADO.

Activities or mission (Part I)

TO PROVIDE SAFE, AFFORDABLE, ACCESSIBLE HOUSING AND HOUSING SERVICES FOR THELOW-INCOME, ELDERLY AND DISABLED OF COLORADO.

  • PROVIDED MANAGERIAL OVERSIGHT AND PROPERTY MANAGEMENT SERVICES TO THE COMMUNITY PROPERTIES OWNED BY THE ORGANIZATION AND THE SCHEDULE R ENTITIES, AND PROVIDED THIRD-PARTY MAINTENANCE TO OUR NONPROFIT ORGANIZATION. WE MANAGED THIRTEEN (13) AFFORDABLE HOUSING COMMUNITIES PROVIDING 526 APARTMENTS TO DISABLED, ELDERLY, AND LOW-INCOME FAMILIES.

    Expenses $4,460,147 · Revenue $4,560,288

  • PROVIDE HOUSING AND SUPPORT SERVICES ACROSS COLORADO TO LOW-INCOME, ELDERLY AND DISABLED RESIDENTS, INCLUDING HOME MODIFICATIONS AND REPAIR; HOUSING COUNSELING/RENTAL NAVIGATION; AFFORDABLE HOUSING ASSISTANCE AND SEARCH; SENIOR SERVICES NAVIGATION, AND MORE.

    Expenses $20,647,997 · Revenue $4,774,796

As filed on the 2023 return.

Listed in Part VII

  • Chad H Mitchell

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Larry Aubrecht

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Joycelyn Gardner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William M Christopher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Haynes

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lynn Archuleta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Rinderknecht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Margaret Turco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Janine Halverson

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Katie McKenna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jim Tanzillo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeff Martinez

    PRESIDENT

    Total calculated
    $196,200
    From this org
    $171,118
    From related orgs
    $0
    Other
    $25,082
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $138,995
    Bonus
    $16,200
    Other
    $15,923
    Deferred
    $0
    Nontaxable benefits
    $25,082
    Filer's total
    $196,200

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.

  • EASTBAY SENIOR HOUSING

    501(C)(3) · AFFORDABLE HOUSING · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

  • BROOK HAVEN APARTMENTS

    501(C)(3) · AFFORDABLE HOUSING · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

  • DECATUR STREET RESIDENCES

    501(C)(3) · AFFORDABLE HOUSING · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

  • LA ALMA HOUSING CORP

    501(C)(3) · AFFORDABLE HOUSING · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

  • TRI-PROPERTIES INCLUDED IN THIS 990

    501(C)(3) · AFFORDABLE HOUSING · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

  • COMMUNITY DEVELOPMENT PTSHIP INC

    501(C)(3) · GP IN LA ALMA HOUSING LTD · CO · controlled entity

    Directly controlled by BROTHERS REDEVELOPMENT

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.

  • BROTHERS TRIPROPERTIES

    AFFORDABLE HOUSING · CO · income $2,562,899 · assets $7,598,366

    Directly controlled by BROTHERS REDEVELOPMENT

  • BROTHERS PROPERTY MANAGEMENT

    PROPERTY MANAGEMENT · CO · income $2,604,719 · assets $3,681,343

    Directly controlled by BROTHERS REDEVELOPMENT

  • BRI DEVELOPERS LLC

    AFFORDABLE HOUSING · CO · income -$25 · assets $479,841

    Directly controlled by BROTHERS REDEVELOPMENT

  • FEDERAL VIEW APARTMENTS

    AFFORDABLE HOUSING · CO · income $443,648 · assets $1,592,906

    Directly controlled by BROTHERS REDEVELOPMENT

  • CLAYTON STREET RESIDENCES

    AFFORDABLE HOUSING · CO · income $120,456 · assets $369,174

    Directly controlled by BROTHERS REDEVELOPMENT

  • BROTHERS SPE I LLC

    AFFORDABLE HOUSING · CO · income $2,578,672 · assets $3,644,530

    Directly controlled by BROTHERS REDEVELOPMENT

  • BRI VALOR DEVELOPER LLC

    AFFORDABLE HOUSING · CO · income -$87 · assets $1,025,682

    Directly controlled by BROTHERS REDEVELOPMENT

Related corporations and trusts

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

  • COMMUNITY DEVELOPMENT PARTNERS

    C · AFFORDABLE HOUSING · CO · 100% owned · share of income -$106 · share of assets -$2,496

    Directly controlled by BROTHERS REDEVELOPMENT

Provenance

Return type
form_990
Tax year
2023
Filed
8 August 2025
IRS schema version
2023v6.0
Source object
202542239349300929

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