Civic Intelligence

Providence Westside Housing Development Fund Company Inc

990 • Fiscal year 2019 • EIN 01-0607626

Jan 01, 2019 to Dec 31, 2019 • Filed on May 18, 2020

Organization ProfileN/A
1150 Buffalo RoadRochester, NY 14624

(585) 328-3228

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

1.38x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

8.76x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Net Margin

12th percentile

-73%

Higher net margin than 12% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

59th percentile

$134,128

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 65.2% of source-year revenue.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

$1,303,605

No earlier filing loaded for comparison.

Net Assets

-$499,246

No earlier filing loaded for comparison.

Liabilities

$1,802,851

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin12th percentile

Revenue

$205,701

No earlier filing loaded for comparison.

Expenses

$355,993

No earlier filing loaded for comparison.

Net Income

-$150,292

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2019: $1,303,605Liabilities 2019: $1,802,851Net Assets 2019: -$499,2462019Assets 2020: $1,230,059Liabilities 2020: $1,896,669Net Assets 2020: -$666,6102020Assets 2021: $1,135,454Liabilities 2021: $2,006,352Net Assets 2021: -$870,8982021Assets 2022: $998,676Liabilities 2022: $2,103,596Net Assets 2022: -$1,104,9202022Assets 2023: $919,451Liabilities 2023: $2,221,842Net Assets 2023: -$1,302,3912023Assets 2024: $868,135Liabilities 2024: $2,365,783Net Assets 2024: -$1,497,6482024

Highlighted filing

2019

Assets$1,303,605
Liabilities$1,802,851
Net Assets-$499,246
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200K-$400KRevenue 2019: $205,701Expenses 2019: $355,993Net Income 2019: -$150,2922019Revenue 2020: $210,651Expenses 2020: $356,773Net Income 2020: -$146,1222020Revenue 2021: $218,206Expenses 2021: $396,005Net Income 2021: -$177,7992021Revenue 2022: $221,372Expenses 2022: $442,667Net Income 2022: -$221,2952022Revenue 2023: $245,390Expenses 2023: $442,869Net Income 2023: -$197,4792023Revenue 2024: $235,979Expenses 2024: $431,236Net Income 2024: -$195,2572024

Highlighted filing

2019

Revenue$205,701
Expenses$355,993
Net Income-$150,292
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 18, 2020
Return Version
2019v5.1
Gross Receipts
$205,701
Mission and Program Overview

Mission

Provide quality affordable housing to low income families.

Operating a low-income housing project, located in the City of Rochester, New York.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$1,083,281▲ $1,083,281
Savings and Temporary Cash Investments-$122,263-
Cash and Non-Interest-Bearing Accounts-$68,782-
Prepaid Expenses and Deferred Charges-$10,616-
Accounts Receivable-$4,622-
Total Assets$0$1,303,605▲ $1,303,605
Other Assets Total$0$14,041▲ $14,041
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,740,064-
Accounts Payable and Accrued Expenses-$24,683-
Other Liabilities$0$24,006▲ $24,006
Escrow Account Liability-$14,041-
Deferred Revenue-$57-
Total Liabilities$0$1,802,851▲ $1,802,851
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-499,246-
Total Net Assets Fund Balance$0$-499,246▼ $499,246
Total Liabilities and Net Assets / Fund Balance$0$1,303,605▲ $1,303,605

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,058,708$1,484,295$2,543,003
Equipment$0$201,230$201,230
Land$24,573-$24,573
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleOtherTotal
Dan SturgisTreasurer$134,128$134,128
Helen BianchiSecretary$127,675$127,675
Mark GreisbergerVice President$64,828$64,828

Board Members and Trustees

NameTitle
Jack BalinskyPresident
Lynette RobinsonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$201,580
Investment Income
$318
Other Revenue
$3,803
Change in Net Assets
$-150,292

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,701
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$205,701
Total Revenue per Form 990
$205,701
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$355,993
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$98,469--$98,469
Occupancy$83,568--$83,568
Depreciation Depletion$82,016--$82,016
Fees for Services Other$34,774$5,095-$39,869
Fees for Services Management-$33,252-$33,252
Insurance-$8,160-$8,160
Office Expenses-$4,286-$4,286
Fees for Services Accounting-$3,120-$3,120
All Other Expenses-$2,178-$2,178
Fees for Services Legal-$750-$750
Other Expenses-$325-$325
Total Functional Expenses$298,827$57,166$0$355,993

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$355,993
Total Expenses per Audited Statements$355,993
Total Expenses per Form 990$355,993
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses - Affiliates$24,006
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The Organization is managed by Providence Housing Development Corporation, the supported organization.”

Form 990, Part VI, Section A, line 6

“Providence Housing Development Corporation is the sole member of the Organization.”

Form 990, Part VI, Section A, line 7A

“Providence Housing Development Corporation has the right to appoint members of the Organization's Board of Directors.”

Form 990, Part VI, Section A, line 8B

“There are no other committees besides the full board.”

Form 990, Part VI, Section B, line 11B

“The draft 990 report was sent electronically to all board members. Responses were received and evaluated if there were questions prior to filing the report.”

Form 990, Part VI, Section B, line 12C

“Employee compliance with the conflict of interest policy is reviewed annually with all employees of the parent corporation at a general meeting. Each employee signs a form to reaffirm his/her understanding of the policy. Board members are asked to acknowledge their compliance annually with forms returned to the Secretary of the Board rather than management.”

Form 990, Part VI, Section B, line 15

“Providence Westside Housing Development Fund Company, Inc. does not have any direct compensation expense since all employees are officially employed by the parent company, Providence Housing Development Corporation. The wages and benefits of all top management employees are determined by the board of the parent company, Providence Housing Development Corporation. The process includes independent review, comparability data, and deliberation by the board.”

Form 990, Part VI, Section C, line 19

“All documents will be made available for public inspection based on the requirements of applicable law.”

Filing and Contact Details

Filer

Filer Name
Providence Westside Housing Development
EIN
01-0607626
Phone
5853283228
Address
1150 Buffalo Road, Rochester, NY 14624

Signing Officer

Name
Mark Greisberger
Title
Vice President
Phone
5853283228
Signed
2020-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Greisberger
Formed
2002
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
5

Preparer

Firm
Heveron & Company CPAs PLLC
Address
260 Plymouth Avenue South, Rochester, NY 14608
Preparer
Stephanie Annunziata
Phone
5852322956
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Contracted Program Management: Program service expenses 34,774. Management and general expenses 0. Fundraising expenses 0. Total expenses 34,774. Other: Program service expenses 0. Management and general expenses 5,095. Fundraising expenses 0. Total expenses 5,095.”

Form 990, Part XI, line 9:

“Transfer from Westside Housing, L.P. (Book Value not FMV) -346,330. Distribution from Westside Housing, L.P. -2,624.”

Financial Statement Notes

Part IV, Line 2B:

“The escrow represents security deposits held for the Organization's tenants.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Expenses - Affiliates
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0205701
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The escrow represents security deposits held for the Organization's tenants.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01083281
IRS990ScheduleD/TotalExpensesPerForm990Amt0355993
IRS990ScheduleD/TotalLiabilityAmt024006
IRS990ScheduleD/TotalRevenuePerForm990Amt0205701
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0205701
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0355993
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization is managed by Providence Housing Development Corporation, the supported organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Providence Housing Development Corporation is the sole member of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Providence Housing Development Corporation has the right to appoint members of the Organization's Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There are no other committees besides the full board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The draft 990 report was sent electronically to all board members. Responses were received and evaluated if there were questions prior to filing the report.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Employee compliance with the conflict of interest policy is reviewed annually with all employees of the parent corporation at a general meeting. Each employee signs a form to reaffirm his/her understanding of the policy. Board members are asked to acknowledge their compliance annually with forms returned to the Secretary of the Board rather than management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Providence Westside Housing Development Fund Company, Inc. does not have any direct compensation expense since all employees are officially employed by the parent company, Providence Housing Development Corporation. The wages and benefits of all top management employees are determined by the board of the parent company, Providence Housing Development Corporation. The process includes independent review, comparability data, and deliberation by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7All documents will be made available for public inspection based on the requirements of applicable law.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Contracted Program Management: Program service expenses 34,774. Management and general expenses 0. Fundraising expenses 0. Total expenses 34,774. Other: Program service expenses 0. Management and general expenses 5,095. Fundraising expenses 0. Total expenses 5,095.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Transfer from Westside Housing, L.P. (Book Value not FMV) -346,330. Distribution from Westside Housing, L.P. -2,624.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part XI, line 9:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt1Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt2Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt3Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt4Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt5Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt6Providence Housing Development Corporation
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt9Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt10Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt11Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt12Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt13Providence Housing Development Corporation
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt15Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt16Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt17Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt18Providence Housing Development Corporation
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt23Providence Housing Development Corporation
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,303,605
Liabilities
$1,802,851
Net assets
-$499,246
Revenue
$205,701
Expenses
$355,993
Net income
-$150,292
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.87$2.37$1.50$0.24$0.43$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.92$2.22$1.30$0.25$0.44$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$2.10$1.10$0.22$0.44$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$2.01$0.87$0.22$0.40$0.18
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.23$1.90$0.67$0.21$0.36$0.15
2019Detailed filing. Detailed filing data is available for this year.$1.30$1.80$0.50$0.21$0.36$0.15
Peer Organizations

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