TY 2015 Form 990PF

Part I	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books	(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)
	1	Contributions, gifts, grants, etc., received (attach schedule)	70,997
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	152	152	152
4	Dividends and interest from securities...
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...		0
8	Net short-term capital gain.........			0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		134,197	0	134,197
12	Total. Add lines 1 through 11........	205,346	152	134,349
	13	Compensation of officers, directors, trustees, etc.	0	0	0	0
14	Other employee salaries and wages......	60,099	0	0	59,084
15	Pension plans, employee benefits.......	8,170	0	0	8,170
16a	Legal fees (attach schedule).........		12,869	0	0	12,869
b	Accounting fees (attach schedule).......		6,810	0	0	6,810
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		4,970	0	0	4,970
19	Depreciation (attach schedule) and depletion...		105,617	0	105,617
20	Occupancy..............
21	Travel, conferences, and meetings.......	459	0	0	459
22	Printing and publications..........
23	Other expenses (attach schedule).......		108,251	152	28,732	74,062
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	307,245	152	134,349	166,424
25	Contributions, gifts, grants paid.......	0			0
26	Total expenses and disbursements. Add lines 24 and 25	307,245	152	134,349	166,424
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-101,899
b	Net investment income (if negative, enter -0-)		0
c	Adjusted net income (if negative, enter -0-)...			0

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	19,180	10,319	10,319
	2	Savings and temporary cash investments.........
	3	Accounts receivable 5,220
		Less: allowance for doubtful accounts	375	5,220	5,220
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	2,886	2,175	2,175
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis 3,148,078
		Less: accumulated depreciation (attach schedule) 2,055,621	1,191,159	1,092,457	2,086,738
	15	Other assets (describe )	249,139	250,179	250,179
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,462,739	1,360,350	2,354,631
	17	Accounts payable and accrued expenses..........	26,258	25,506
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	12,077	12,339
	23	Total liabilities (add lines 17 through 22).........	38,335	37,845
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................	1,424,404	1,322,505
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	1,424,404	1,322,505
	31	Total liabilities and net assets/fund balances (see instructions).	1,462,739	1,360,350

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............

1,424,404

Enter amount from Part I, line 27a .....................

-101,899

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

1,322,505

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

1,322,505

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1a
b
c
d
e

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	196,635	0	0.000000
2013	149,859	0	0.000000
2012	155,167	0	0.000000
2011	167,108	0	0.000000
2010	157,131	0	0.000000

Total of line 1, column (d) .....................

20.000000

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .

0.000000

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

Multiply line 4 by line 3......................

Enter 1% of net investment income (1% of Part I, line 27b)...........

Add lines 5 and 6........................

Enter qualifying distributions from Part XII, line 4.............

166,424

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	0
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	0
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	0
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	0
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	0
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
RAY DEAL	PRESIDENT/CHAIR 1.00	0	0	0
2045 STUART COURT BURLINGTON,NC27215
FRANCES HINDMAN	SECRETARY 1.00	0	0	0
3021 AMHERST AVENUE BURLINGTON,NC27215
SUSAN BALOG	DIRECTOR 1.00	0	0	0
4112 GILCHRIST DRIVE BURLINGTON,NC27215
LORI BIRKETT	DIRECTOR 1.00	0	0	0
620 ATWATER STREET BURLINGTON,NC27215
ALVIS A ALSTON	DIRECTOR 1.00	0	0	0
2971 VICTORIA FALLS BURLINGTON,NC27215
KEMP LILES	DIRECTOR 1.00	0	0	0
804 WARWICK AVENUE BURLINGTON,NC27215
PHIL MYERS	EX-OFFICIO 1.00	0	0	0
2019 WOODLAND AVENUE BURLINGTON,NC27215

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	N/A	0
2


3


4

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

		(a) Corpus	(b) Years prior to 2014	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2015:
a From 2010......
b From 2011......
c From 2012......
d From 2013......
e From 2014......
fTotal of lines 3a through e........
4Qualifying distributions for 2015 from Part
XII, line 4: $
a Applied to 2014, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2015 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2015.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2011....
b Excess from 2012....
c Excess from 2013....
d Excess from 2014....
e Excess from 2015....

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total
	0	0	0	0	0
b 85% of line 2a .........	0	0	0	0	0
c Qualifying distributions from Part XII, line 4 for each year listed .....	166,424	196,635	149,859	155,167	668,085
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	0	0	0	0	0
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	166,424	196,635	149,859	155,167	668,085
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	2,354,631	2,358,318	2,361,794	2,394,116	9,468,859
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)					0
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...					0
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
1-A	INCOME FROM THE RENTAL OF THE LOW-INCOME HOUSING IS THE PRIMARY MEANS BY WHICH UNITED RESIDENTIAL SERVICES, INC. ACCOMPLISHES ITS PRIMARY PURPOSE OF PROVIDING THE LOW INCOME ELDERLY AND HANDICAPPED WITH HOUSING AND OTHER SERVICES.
1-B	LAUNDRY AND VENDING SERVICES ARE FOR THE CONVENIENCE OF THE TENANTS.

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year

Total ................................. 3a				0

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
aRENTAL INCOME					130,312
bLAUNDRY & VENDING					3,801
cTENANT CHARGES					84
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	152
4 Dividends and interest from securities....
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		152	134,197

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

bApproved for future payment

Total ................................. 3b				0

Name of organization UNITED RESIDENTIAL SERVICES INC

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 451 7TH STREET SW WASHINGTON, DC20410	$ 67,997	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Name of organization UNITED RESIDENTIAL SERVICES INC		Employer identification number 58-1482333

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)


Name of organization UNITED RESIDENTIAL SERVICES INC			Employer identification number 58-1482333
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
BUILDING	1999-02-02	2,773,329	1,684,278	SL	27.000000000000	101,526	101,526
APPLIANCES	1999-02-02	29,375	29,375	SL	7.000000000000	0	0
VINYL FLOORING	1999-02-02	26,268	26,268	SL	7.000000000000	0	0
CARPET	1999-02-02	18,653	18,653	SL	7.000000000000	0	0
BLINDS/SHADES/ARTWORK	1999-02-02	8,201	8,201	SL	7.000000000000	0	0
HVAC OFFICE	2005-04-12	1,850	1,850	200DB	5.000000000000	0	0
HOT WATER HEATERS	2005-12-06	6,202	6,202	SL	5.000000000000	0	0
HEAT PUMP	2011-08-01	5,000	2,250	SL	10.000000000000	501	501
COMPUTER SOFTWARE	1999-02-02	1,540	1,540	SL	3.000000000000	0	0
COMPUTER HARDWARE	1999-02-02	2,598	2,598	SL	5.000000000000	0	0
COPIER	1999-02-02	1,550	1,550	SL	5.000000000000	0	0
COMPUTER HARDWARE	2002-02-20	1,368	1,368	SL	5.000000000000	0	0
PATIO FURNITURE	2001-06-28	2,258	2,258	SL	5.000000000000	0	0
CARPET	2010-06-30	7,205	7,205	SL	5.000000000000	0	0
LAND	1999-02-02	73,013		L		0	0
LAND IMPROVEMENTS	1999-02-02	149,919	149,919	SL	15.000000000000	0	0
LAWNMOWER	2001-03-21	1,100	1,100	SL	5.000000000000	0	0
CARRIER HEAT PUMP AIR HANDLER	2013-02-07	8,925	2,108	SL	10.000000000000	895	895
REPAIRS TO SIDEWALK	2014-06-23	2,550	478	SL	8.000000000000	320	320
WATER HEATER	2013-12-27	8,866	1,330	SL	10.000000000000	888	888
WATER HEATER SECOND FLOOR	2014-01-23	9,032	1,355	SL	10.000000000000	905	905
PTAC HEAT PUMP	2014-11-16	2,361	118	SL	10.000000000000	236	236
TELEPHONE DOOR ENTRY SYSTEM	2016-09-21	6,915		SL	10.000000000000	346	346

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
BUILDING	2,773,329	1,785,804	987,525
APPLIANCES	29,375	29,375	0
VINYL FLOORING	26,268	26,268	0
CARPET	18,653	18,653	0
BLINDS/SHADES/ARTWORK	8,201	8,201	0
HVAC OFFICE	1,850	1,850	0
HOT WATER HEATERS	6,202	6,202	0
HEAT PUMP	5,000	2,751	2,249
COMPUTER SOFTWARE	1,540	1,540	0
COMPUTER HARDWARE	2,598	2,598	0
COPIER	1,550	1,550	0
COMPUTER HARDWARE	1,368	1,368	0
PATIO FURNITURE	2,258	2,258	0
CARPET	7,205	7,205	0
LAND	73,013	0	73,013
LAND IMPROVEMENTS	149,919	149,919	0
LAWNMOWER	1,100	1,100	0
CARRIER HEAT PUMP AIR HANDLER	8,925	3,003	5,922
REPAIRS TO SIDEWALK	2,550	798	1,752
WATER HEATER	8,866	2,218	6,648
WATER HEATER SECOND FLOOR	9,032	2,260	6,772
PTAC HEAT PUMP	2,361	354	2,007
TELEPHONE DOOR ENTRY SYSTEM	6,915	346	6,569

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
TENANT SECURITY DEPOSITS	11,449	11,644	11,644
RESERVE FOR REPLACEMENTS	146,560	156,882	156,882
ESCROW DEPOSITS	9,522	5	5
RESIDUAL RECEIPTS RESERVE	81,608	81,648	81,648

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADMINISTRATIVE EXPENSES	13,574	-24	0	13,598
MANAGEMENT FEE	18,308	0	5,567	12,779
UTILITIES	35,931	0	10,924	25,007
OPERATING & MAINTENANCE	29,034	0	8,827	14,864
PROPERTY & LIABILITY INSURANCE	9,244	0	2,811	6,433
BANK SERVICE CHARGES	176	176	0	0
ELDERLY CARE EXPENSES	1,504	0	457	1,047
ADVERTISING AND MARKETING	480	0	146	334

Description	Revenue And Expenses Per Books	Adjusted Net Income
RENTAL INCOME	130,312	130,312
LAUNDRY & VENDING	3,801	3,801
TENANT CHARGES	84	84

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