Services with Loveridge Hunt & Co.

We  offer our clients a comprehensive range of services including auditing, accounting, tax preparation and
consulting services to affordable housing developers, builders, syndicators, investors, not-for-profit
organizations and housing authorities. We are sensitive to client and investor reporting needs and deadlines.

Our Success

Since the low-income housing tax credit was enacted as part of the Tax Reform Act of 1986, Loveridge Hunt & Co. has helped developers work through the tax, regulatory, investment and compliance issues necessary to successfully complete their projects. Building on more than 40 years of experience with affordable housing, we have helped our clients develop and syndicate 1,000s of projects using low-income housing tax credits and other financing vehicles.

Audit & Attestation Services

Partnership audits

The Firm currently serves more than 400 syndicated partnerships that serve the affordable housing industry. These partnerships utilize HUD, Rural Development, state and local government resources, as well as participating in the federal Section 42 tax credit program. We provide annual audit and tax return preparation services for virtually all of the aforementioned for-profit entities.

Non-profit audits (A-133)

The Firm currently serves approximately 40 nonprofit organizations, of which substantially all are associated with affordable housing. Ten of the nonprofit organizations develop affordable housing (and several among them also provide ancillary services). One of our nonprofit organizations is unaffiliated with affordable housing; it serves a consortium of churches. Another is an advocacy group for the local affordable housing community. Approximately 30 of our nonprofit organization clients are single-asset entities that own and operate HUD-regulated multifamily housing.

Compilation

The Firm compiles financial information for a number of conventional multifamily and Rural Development entities.

Attestation services

The Firm performs agreed upon procedures (“AUPs”), the majority of which are related to HUD’s REAC filing, Rural Development requirements. In addition we perform AUPs which address debt service coverage ratios, breakeven calculations, and initial tenant certifications for LIHTC projects.

Public Housing Authorities

The Firm currently audits several Housing Authorities located in Washington and Oregon.

Cost Certifications (10% carryover, Tax Credit, HUD, RD & Historic Tax Credit)

The Firm typically performs approximately 40-50 cost certifications per annum.

Upper Tier Funds

The Firm audits several “upper tier” funds, and we provide tax return preparation services for approximately 75 “upper tier funds”, all of which are associated with affordable housing.

Additional Services

Accounting Services

  • 401K audits
  • Mortgage Company audits
  • Charitable Trust audit
  • A-133 Audit of Federal Grant Recipient
  • Reviews
  • Compilations of forecasts and projections

Tax Services

  • Partnership Returns
  • Corporate Returns
  • Organizations exempt from Income Tax Returns
  • Individual Returns
  • Cost Segregation Services

Advisory services to real estate development

  • Evaluation of eligible basis
  • Creation of appropriate entities
  • Assistance with tax credit applications
  • Carryover allocation certifications
  • Timing of investor entry
  • Lock-in of credit rate
  • Year 15 exit strategies