| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX PREPARATION | 4,100 | 0 | 4,100 | 0 |
| AUDITING | 14,500 | 0 | 14,500 | 0 |
| Grantee's Name | Grantee's Address | Grant Date | Grant Amount | Grant Purpose | Amount Expended By Grantee | Any Diversion By Grantee? | Dates of Reports By Grantee | Date of Verification | Results of Verification |
|---|---|---|---|---|---|---|---|---|---|
|
FLATS PHASE I LP |
100 WEST 10TH STREET SUITE 1 WILMINGTON,DE19801 |
2018-01-29 | 20,000 | THE GRANTEE (FLATS PHASE I LP) IS A LIMITED PARTNERSHIP WITH AN ALLOCATION FROM THE DELAWARE STATE HOUSING AUTHORITY TO RECEIVE LOW-INCOME HOUSING TAX CREDITS WITH NONPROFIT PARTICIPATION. THE GRANTEE WILL PROVIDE AFFORDABLE HOUSING TO LOW INCOME ELIGIBLE INDIVIDUALS. TODMORDEN FOUNDATION, AS THE NONPROFIT PARTICIPATION, INDIRECTLY OWNS .01% OF THE GRANTEE. THE PURPOSE OF THE GRANT WAS TO PASS THROUGH FUNDING EARMARKED FOR THE PROJECT FOR PURPOSES OF RENOVATING THE PROPERTY TO PROVIDE LOW-INCOME HOUSING. | 20,000 | NO | 12/31/2018 | 2018-12-31 | ALL COSTS ARE SUBMITTED TO THE DELAWARE STATE HOUSING AUTHORITY TO EVIDENCE INVESTMENT IN LOW-INCOME AFFORDABLE HOUSING. THE COSTS ARE ALSO SUBJECT TO INDEPENDENT THIRD-PARTY COST CERTIFICATION. |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INVESTMENT IN FLATS PHASE I | AT COST | 198,131 | 198,131 |
| INVESTMENT IN FLATS PHASE II | AT COST | 2,701,482 | 2,701,482 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| BUILDINGS | 448,851 | 106,092 | 342,759 | 342,759 |
| APPLIANCES | 5,849 | 5,205 | 644 | 644 |
| CARPETING | 4,360 | 4,360 | 0 | |
| LAND | 3,626,360 | 0 | 3,626,360 | 3,626,360 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 638 | 0 | 638 | 0 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| REIMBURSABLE CONSTRUCTION COSTS | 430,130 | 829,166 | 829,166 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADVERTISING | 2,450 | 0 | 2,450 | 0 |
| INSURANCE | 9,808 | 0 | 9,808 | 0 |
| REPAIRS, MAINTENANCE & UTILITIES | 15,724 | 0 | 15,724 | 0 |
| MISCELLANEOUS EXPENSE | 1,422 | 0 | 1,422 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| MANAGEMENT FEE INCOME | 11,111 | 11,111 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| SECURITY DEPOSIT LIABILITY | 5,496 | 5,396 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| CONSULTING FEES | 4,000 | 0 | 4,000 | 0 |
| BANK FEES | 922 | 0 | 922 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| REAL ESTATE TAXES | 4,380 | 0 | 4,380 | 0 |