Civic Intelligence

Greater Hempstead Housing Development Fund Corporation

EIN 11-2223242 • 501(c)3 • Hempstead, NY

Profile

Search for and purchase, renovate, and operate affordable housing to low income famalies resulting in the improvement of living conditions in a depressed area of nassau county, n.y.

261 South Franklin St P3Hempstead, NY 11550

www.greaterhempstead.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

50th percentile

0.07x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

2.11x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

48th percentile

3.5%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

1.6%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

37th percentile

0.7%

Faster revenue growth than 37% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$3,205,267

Up $49,494 (+1.6%) from 2019

Liabilities

Up

$216,014

Up $45,920 (+27%) from 2019

Net Assets

Up

$2,989,253

Up $3,574 (+0.1%) from 2019

Revenue

Up

$102,304

Up $741 (+0.7%) from 2019

Expenses

Down

$98,730

Down $7,381 (-7.0%) from 2019

Net Income

Up

$3,574

Up $8,122 (+179%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $9,015,835Liabilities 2010: $841,274Net Assets 2010: $8,174,5612010Assets 2011: $8,628,776Liabilities 2011: $956,840Net Assets 2011: $7,671,9362011Assets 2012: $6,650,443Liabilities 2012: $779,093Net Assets 2012: $5,871,3502012Assets 2013: $5,433,933Liabilities 2013: $663,654Net Assets 2013: $4,770,2792013Assets 2014: $4,346,954Liabilities 2014: $751,665Net Assets 2014: $3,595,2892014Assets 2015: $3,541,095Liabilities 2015: $314,342Net Assets 2015: $3,226,7532015Assets 2016: $3,065,936Liabilities 2016: $60,494Net Assets 2016: $3,005,4422016Assets 2017: $3,095,864Liabilities 2017: $57,955Net Assets 2017: $3,037,9092017Assets 2018: $3,119,065Liabilities 2018: $128,838Net Assets 2018: $2,990,2272018Assets 2019: $3,155,773Liabilities 2019: $170,094Net Assets 2019: $2,985,6792019Assets 2020: $3,205,267Liabilities 2020: $216,014Net Assets 2020: $2,989,2532020

Highlighted filing

2020

Assets$3,205,267
Liabilities$216,014
Net Assets$2,989,253

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$0-$1.0M-$2.0MExpenses 2010: $855,5982010Expenses 2011: $800,8752011Expenses 2012: $925,0032012Revenue 2013: -$121,255Expenses 2013: $710,473Net Income 2013: -$831,7282013Revenue 2014: -$287,136Expenses 2014: $550,591Net Income 2014: -$837,7272014Revenue 2015: -$877,028Expenses 2015: $440,164Net Income 2015: -$1,317,1922015Revenue 2016: $97,021Expenses 2016: $318,332Net Income 2016: -$221,3112016Revenue 2017: $98,945Expenses 2017: $66,478Net Income 2017: $32,4672017Revenue 2018: $101,341Expenses 2018: $104,023Net Income 2018: -$2,6822018Revenue 2019: $101,563Expenses 2019: $106,111Net Income 2019: -$4,5482019Revenue 2020: $102,304Expenses 2020: $98,730Net Income 2020: $3,5742020

Highlighted filing

2020

Revenue$102,304
Expenses$98,730
Net Income$3,574

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 25, 2021
Return Version
2020v4.0
Gross Receipts
$102,304
Mission and Program Overview

Mission

Search for and purchase, renovate, and operate affordable housing to low income famalies resulting in the improvement of living conditions in a depressed area of nassau county, n.y.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,447,580$2,476,847▲ $29,267
Land, Buildings, and Equipment, Net$384,247$374,682▼ $9,565
Prepaid Expenses and Deferred Charges$290,282$325,918▲ $35,636
Cash and Non-Interest-Bearing Accounts$33,664$27,820▼ $5,844
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,155,773$3,205,267▲ $49,494
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$139,094$185,014▲ $45,920
Grants Payable$25,000$25,000→ $0
Other Liabilities$6,000$6,000→ $0
Total Liabilities$170,094$216,014▲ $45,920
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,985,679$2,989,253▲ $3,574
Total Net Assets Fund Balance$2,985,679$2,989,253▲ $3,574
Total Liabilities and Net Assets / Fund Balance$3,155,773$3,205,267▲ $49,494

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$247,888$129,925$377,813
Land$126,794-$126,794
Other Land Buildings-$126,172$126,172
Compensation and Service Providers

Board Members and Trustees

NameTitle
Walter S KershawChairman/ & Pre
Willie RicksVice Chairman
Harry RansomDirector
Shirley WhiteSecretary
Miles MerrittTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Polansky Kulberg & Co LLPAccounting & TaxesONE OLD COUNTRY ROAD SUITE 295, Carle Place, NY 11514-
The Scher Law FirmLegal ServicesONE OLD COUNTRY ROAD, Carle Place, NY 11514-
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$33,000
Investment Income
$0
Other Revenue
$69,304
Change in Net Assets
$3,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$49,679
Salaries, Compensation, and Employee Benefits$48,901
Grants and Similar Amounts Paid$150
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$48,901--$48,901
Depreciation Depletion$9,565--$9,565
Insurance$8,941--$8,941
Office Expenses$4,333--$4,333
Fees for Services Legal$2,629--$2,629
Other Expenses$2,163--$2,163
All Other Expenses$2,084--$2,084
Travel$1,102--$1,102
Grants to Domestic Orgs$150--$150
Total Functional Expenses$98,730$0$0$98,730
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenants Security Deposits$6,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Discussed with outside auditors in conjunction with audited financial statements.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Discussed ay board of directors meetings.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Documents maintained in the office and are made available upon request.

Filing and Contact Details

Filer

Filer Name
Greater Hempstead Housing Development
EIN
11-2223242
Phone
5164086263
Address
261 SOUTH FRANKLIN ST P3, HEMPSTEAD, NY 11550

Signing Officer

Name
Miles Merritt
Title
Treasurer
Signed
2021-12-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Walter S Kershaw
Formed
1970
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Polansky Kulberg & Co LLP
Address
One Old Country Road Ste 295, Carle Place, NY 11514
Preparer
Jerry Sclair
Phone
5167413500
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DISCUSSED WITH OUTSIDE AUDITORS IN CONJUNCTION WITH AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCUSSED AY BOARD OF DIRECTORS MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS MAINTAINED IN THE OFFICE AND ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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