TY 2013 Form 990

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) BONNIE BLAFORD........................................................................
SEC./TREASURER

1.00
.......................0.00

(2) ALVIN L WRIGHT........................................................................
Vice President

1.00
.......................0.00

(3) DWAIN E FORD........................................................................
Director

2.00
.......................0.00

(4) RICHARD ANDERSON........................................................................
Director

1.00
.......................0.00

(5) LEE BEINE........................................................................
Director

1.00
.......................0.00

(6) KENNETH MULLER........................................................................
President

2.00
.......................0.00

(7) TOM EHRESMAN........................................................................
Director

1.00
.......................0.00

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.	(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to governments and organizations in the United States. See Part IV, line 21	0
2	Grants and other assistance to individuals in the United States. See Part IV, line 22	0
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16	0
4	Benefits paid to or for members	0
5	Compensation of current officers, directors, trustees, and key employees ....	0
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages	13,167	13,167
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	0
9	Other employee benefits .......	0
10	Payroll taxes ...........	322	322
11	Fees for services (non-employees):
a	Management ......	21,956		21,956
b	Legal .........	0
c	Accounting ...........	5,150		5,150
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	0
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........	0
12	Advertising and promotion ....	67	67
13	Office expenses .......	248		248
14	Information technology ......	0
15	Royalties ..	0
16	Occupancy ...........	68,646	68,646
17	Travel ............	0
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	0
20	Interest ...........	13,604	13,604
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	24,619	24,619
23	Insurance ..............	10,387	10,387
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	SUPPLIES	1,778	1,778
b	TELEPHONE	838		838
c	SALES TAX	87	87
d	Postage and Shipping	18	18
e	All other expenses	0
25	Total functional expenses. Add lines 1 through 24e	160,887	132,695	28,192	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII.

(A)
Total expenses

(B)
Program service expenses

(D)
Fundraising expenses

Grants and other assistance to governments and organizations in the United States. See Part IV, line 21

Grants and other assistance to individuals in the United States. See Part IV, line 22

Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16

Benefits paid to or for members

Compensation of current officers, directors, trustees, and key employees ....

Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....

Other salaries and wages

13,167

Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....

Other employee benefits .......

Payroll taxes ...........

322

Fees for services (non-employees):

Management ......

21,956

Legal .........

Accounting ...........

5,150

Lobbying ...........

Professional fundraising services. See Part IV, line 17

Investment management fees ......

Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........

Advertising and promotion ....

Office expenses .......

248

Information technology ......

Royalties ..

Occupancy ...........

68,646

Travel ............

Payments of travel or entertainment expenses for any federal, state, or local public officials ......

Conferences, conventions, and meetings ....

Interest ...........

13,604

Payments to affiliates .......

Depreciation, depletion, and amortization .....

24,619

Insurance ..............

10,387

Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)

SUPPLIES

1,778

TELEPHONE

838

SALES TAX

Postage and Shipping

All other expenses

Total functional expenses. Add lines 1 through 24e

160,887

132,695

28,192

Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet

if following SOP 98-2 (ASC 958-720).

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............	20,362	1	14,524
2	Savings and temporary cash investments .........	218,893	2	192,141
3	Pledges and grants receivable, net ...........		3	0
4	Accounts receivable, net .............		4	738
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
			5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
			6	0
7	Notes and loans receivable, net .............		7	0
8	Inventories for sale or use ..............		8	0
9	Prepaid expenses and deferred charges ..........		9	7,520
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,083,757
b	Less: accumulated depreciation .....	10b	660,248	379,360	10c	423,509
11	Investments—publicly traded securities ..........		11	0
12	Investments—other securities. See Part IV, line 11 .....		12	0
13	Investments—program-related. See Part IV, line 11 .....		13	0
14	Intangible assets ...............		14	0
15	Other assets. See Part IV, line 11 ...........		15	0
16	Total assets. Add lines 1 through 15 (must equal line 34)......	618,615	16	638,432
	17	Accounts payable and accrued expenses .........	3,738	17	7,888
18	Grants payable .................		18
19	Deferred revenue ................		19
20	Tax-exempt bond liabilities .............		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D..		21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........		22
23	Secured mortgages and notes payable to unrelated third parties ..	145,554	23	136,239
24	Unsecured notes and loans payable to unrelated third parties ....		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................	9,033	25	12,068
26	Total liabilities. Add lines 17 through 25.........	158,325	26	156,195
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............	460,290	27	482,237
28	Temporarily restricted net assets ...........		28
29	Permanently restricted net assets ...........		29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........		30
31	Paid-in or capital surplus, or land, building or equipment fund .....		31
32	Retained earnings, endowment, accumulated income, or other funds		32
33	Total net assets or fund balances ...........	460,290	33	482,237
34	Total liabilities and net assets/fund balances ........	618,615	34	638,432

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............

(A)
Beginning of year

(B)
End of year

Cash–non-interest-bearing .............

20,362

14,524

Savings and temporary cash investments .........

218,893

192,141

Pledges and grants receivable, net ...........

Accounts receivable, net .............

738

Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................

Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L

Notes and loans receivable, net .............

Inventories for sale or use ..............

Prepaid expenses and deferred charges ..........

7,520

10a

Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D

10a

1,083,757

Less: accumulated depreciation .....

10b

660,248

379,360

10c

423,509

Investments—publicly traded securities ..........

Investments—other securities. See Part IV, line 11 .....

Investments—program-related. See Part IV, line 11 .....

Intangible assets ...............

Other assets. See Part IV, line 11 ...........

Total assets. Add lines 1 through 15 (must equal line 34)......

618,615

638,432

Accounts payable and accrued expenses .........

3,738

7,888

Grants payable .................

Deferred revenue ................

Tax-exempt bond liabilities .............

Escrow or custodial account liability. Complete Part IV of Schedule D..

Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified

persons. Complete Part II of Schedule L..........

Secured mortgages and notes payable to unrelated third parties ..

145,554

136,239

Unsecured notes and loans payable to unrelated third parties ....

Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................

9,033

12,068

Total liabilities. Add lines 17 through 25.........

158,325

156,195

Organizations that follow SFAS 117 (ASC 958), check here MediumBullet

and complete lines 27 through 29, and lines 33 and 34.

Unrestricted net assets ..............

460,290

482,237

Temporarily restricted net assets ...........

Permanently restricted net assets ...........

Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet

and complete lines 30 through 34.

Capital stock or trust principal, or current funds ........

Paid-in or capital surplus, or land, building or equipment fund .....

Retained earnings, endowment, accumulated income, or other funds

Total net assets or fund balances ...........

460,290

482,237

Total liabilities and net assets/fund balances ........

618,615

638,432

	(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate contributions to (during year) ...
3	Aggregate grants from (during year) .....
4	Aggregate value at end of year ........


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

		Amount
c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Description of property	(a) Cost or other basis (investment)	(c) Accumulated depreciation	(d) Book value
1a	Land .................	64,950		64,950
b	Buildings ................	991,174	633,145	358,029
c	Leasehold improvements ............
d	Equipment ................	3,485	2,955	530
e	Other .................	24,148	24,148
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......	423,509

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains on investments ..........	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e
3	Subtract line 2e from line 1.....................	3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.......................	4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d......................	2e
3	Subtract line 2e from line 1.....................	3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.......................	4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5

Return Reference	Explanation
Part X : FIN48 Footnote	The Division has obtained exemption from federal income tax under Internal Revenue Code Section 501(c)(4). The Division is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Division believes it is no longer subject to income tax examinations for years prior to 2010.

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2013

Open to Public
Inspection

Name of the organization

TIPTON SENIOR PARK
KARTAY APARTMENTS MANAGEMENT

Employer identification number

42-6240234

Return Reference	Explanation
Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company	MANAGEMENT DUTIES HAVE BEEN CONTRACTED WITH DONNA ZIMMERMAN OF MONTICELLO, IOWA. Effective June 30, 2013, the Division ended the agreement with Zimmerman Buildings. A new agreement was entered into with KarTay Apartment Management effective July 1, 2013. Under the terms of the agreement with Zimmerman Buildings, a monthly management fee equal to $44 per occupied unit was charged. The management fee for the year ended December 31, 2013 was $8,140. Under the terms of the agreement with KarTay Apartment Management, a monthly management fee equal to $44 per occupied unit was charged. The management fee for the year ended December 31, 2013 paid to KarTay Apartment Management was $5,896. COMPENSATION IS BASED ON OCCUPIED UNITS PER MONTH THAT ARE APPROVED BY USDA RURAL DEVELOPMENT. DUTIES INCLUDE ACCOUNTING, ACCEPTING AND APPROVING TENANT APPLICATIONS AND OTHER RESPONSIBILITIES INCLUDED IN AN APPROVED AGREEMENT WITH USDA RURAL DEVELOPMENT.
Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings	The board of directors meet quarterly and minutes of each meeting is maintained. There are no committees that report to the board.
Form 990, Part VI, Line 11b: Form 990 Review Process	THE 990 will be reviewed by the management company and then a copy is given to the board for review. An officer of the board will sign the authorization to electronically file the 990.
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available	THE ORGANIZATIONS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENBTS ARE AVAILABLE AT THE MANAGEMENT COMPANIES ADDRESS LISTED ON THE FORM 990.
FORM 990, PART IV, LINE 12B	THE ORGANIZATION IS DIVIDED INTO THREE DIVISIONS. TWO OF THE THREE DIVISIONS WERE AUDITED FOR THE PERIOD ENDED DECEMBER 31, 2013 DUE TO RECEIVING A FEDERAL AWARD; HOWEVER, THE THIRD DIVISION WAS NOT AS IT DOES NOT RECEIVE ANY FEDERAL FUNDS. ALL THREE DIVISIONS ARE INCLUDED IN THE TAX RETURN.
FORM 990, PART VI, SECTION A, 9	ALL DIRECTORS AND OFFICERS CAN BE REACHED THROUGH THE ORGANIZATIONS MAILING ADDRESS.
FORM 990, PART VI, SECTION B, 15a and b	THE ORGANIZATION DOES NOT HAVE ANY PAID CEO, EXECUTIVE DIRECTOR, OR AND OTHER EMPLOYEES AS THE ORGANIZATION'S OPERATIONS ARE MANAGED BY A MANAGEMENT COMPANY.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2013

Additional Data

Software ID:	13000170
Software Version:	2013v3.1

1	Briefly describe the organization’s mission or most significant activities: PROVIDE MODERATE & LOW INCOME SENIOR HOUSING.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	7
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	7
5	Total number of individuals employed in calendar year 2013 (Part V, line 2a) ......	5	1
6	Total number of volunteers (estimate if necessary) .............	6
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........		0
9	Program service revenue (Part VIII, line 2g) .........	184,700	176,245
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	942	629
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)		0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	185,642	176,874
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...		0
14	Benefits paid to or for members (Part IX, column (A), line 4).....		0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	12,914	13,489
16a	Professional fundraising fees (Part IX, column (A), line 11e).....		0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	142,539	147,398
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	155,453	160,887
19	Revenue less expenses. Subtract line 18 from line 12.......	30,189	15,987
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	618,615	638,432
21	Total liabilities (Part X, line 26).............	158,325	156,195
22	Net assets or fund balances. Subtract line 21 from line 20.....	460,290	482,237

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 132,695 including grants of $ ) (Revenue $ 173,127 )
	THE CORPORATION WAS ORGANIZED FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING AND OPERATING RENTAL HOUSING AND RELATED FACILITIES FOR THE LIVING REQUIREMENTS OF ELDERLY RURAL RESIDENTS OF LOW OR MODERATE INCOME.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses132,695

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f

g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......			0
			Business Code
2a	Fees & Contracts Gov Agencies		531110	27,094	27,094
b	LAUNDRY		531110	3,118			3,118
c	LOW RENT HOUSING		531110	146,033	146,033
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			176,245
3	Investment income (including dividends, interest, and other similar amounts).......			629			629
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties...........			0
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss).......			0
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses
c	Gain or (loss)
d	Net gain or (loss)..........			0
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...			0
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..			0
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions......			176,874	173,127		3,747

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....
b	Contributions ........
c	Net investment earnings, gains, and losses
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........
f	Administrative expenses ....
g	End of year balance ......

(a) Description of security or category (including name of security)		(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

1.(a) Description of liability		(b) Book value
Federal income taxes
SECURITY DEPOSIT LIABILITY		12,068








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		12,068
2. Liability for uncertain tax positions In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII ..................................................