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
PROJECT III HOUSING CORPORATION
THE COMMUNITY BUILDERS INC
Employer identification number

04-2731302
Return Reference Explanation
FORM 990, PART III, LINE 3 ON NOVEMBER 26, 2013, HISTORIC SOUTH END LIMITED PARTNERSHIP, AN AFFILIATED ENTITY, PURCHASED THE ASSETS OF THE PROJECT FOR $4,705,491 FOR THE PURPOSE OF SYNDICATING LOW-INCOME HOUSING TAX CREDITS IN ORDER TO CONTINUE TO PROVIDE AFFORDABLE HOUSING. ON THE DATE OF THIS SALE, THE MORTGAGES AND NOTES PAYABLE OF THE CORPORATIONS WERE FULLY SATISFIED. AS PART OF THE SALE, PROJECT III TOOK BACK A $4,554,472 NOTE RECEIVABLE FROM HISTORIC SOUTH END LIMITED PARTNERSHIP. THIS NOTE RECEIVABLE WAS LATER ASSIGNED TO THE COMMUNITY BUILDERS, INC.
FORM 990, PART VI, SECTION A, LINE 3 THE COMMUNITY BUILDERS, INC IS THE MANAGEMENT AGENT FOR THE CORPORATION. FOR SERVICES IN CONNECTION WITH THE RENT-UP, LEASING AND OPERATION OF THE PROJECT, IT CHARGES MANAGEMENT FEES EQUAL TO 5% OF MONTHLY GROSS EFFECTIVE INCOME. MANAGEMENT FEES TOTALING $20,492 WERE CHARGED TO OPERATIONS DURING THE YEAR ENDED DECEMBER 31, 2013.
FORM 990, PART VI, SECTION B, LINE 11 THE COMMUNITY BUILDERS, INC (TCB), SERVES AS MANAGEMENT AGENT. AN OFFICER OF TCB REVIEWS AND APPROVES THE FORM 990.
FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST
FORM 990, PART IV, LINE 12A THERE WAS NOT AN AUDITED FINANCIAL STATEMENT PREPARED FOR THE TAX PERIOD 1/1/13-12/31/13, HOWEVER,AN AUDITED FINANCIAL STATEMENT WAS PREPARED FOR THE PERIOD 1/1/13-11/25/13, THE DATE AN AFFILIATED ENTITY PURCHASED ALL THE ASSETS OF THE CORPORATION.
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

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