Civic Intelligence

Northeastern Conference House Housing Development Fund Co Inc.

990 • Fiscal year 2020 • EIN 11-2574893

Oct 01, 2019 to Sep 30, 2020 • Filed on Aug 16, 2021

Organization ProfileN/A
130-10 Guy R Brewer BoulevardJamaica, NY 11434

(718) 712-2878

Siviq Scores

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

Liabilities / Assets

94th percentile

1.57x

Higher debt load relative to assets than 94% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

64th percentile

5.26x

Higher debt load relative to revenue than 64% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Net Margin

24th percentile

-22%

Higher net margin than 24% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Asset Growth

5th percentile

-9.5%

Faster asset growth than 5% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

25th percentile

-4.0%

Faster revenue growth than 25% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$6,324,060

Down $664,439 (-9.5%) from 2019

Net Assets

Down

-$3,606,396

Down $421,489 (-13%) from 2019

Liabilities

Down

$9,930,456

Down $242,950 (-2.4%) from 2019

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin24th percentile

Revenue

Down

$1,887,257

Down $78,480 (-4.0%) from 2019

Expenses

Down

$2,308,746

Down $42,739 (-1.8%) from 2019

Net Income

Down

-$421,489

Down $35,741 (-9.3%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $3,287,183Liabilities 2011: $5,345,380Net Assets 2011: -$2,058,1972011Assets 2012: $3,218,663Liabilities 2012: $5,128,354Net Assets 2012: -$1,909,6912012Assets 2013: $3,165,216Liabilities 2013: $5,201,335Net Assets 2013: -$2,036,1192013Assets 2015: $9,074,205Liabilities 2015: $11,063,907Net Assets 2015: -$1,989,7022015Assets 2016: $8,836,105Liabilities 2016: $11,190,959Net Assets 2016: -$2,354,8542016Assets 2017: $7,782,739Liabilities 2017: $10,548,606Net Assets 2017: -$2,765,8672017Assets 2018: $7,379,935Liabilities 2018: $10,179,094Net Assets 2018: -$2,799,1592018Assets 2019: $6,988,499Liabilities 2019: $10,173,406Net Assets 2019: -$3,184,9072019Assets 2020: $6,324,060Liabilities 2020: $9,930,456Net Assets 2020: -$3,606,3962020Assets 2021: $5,971,703Liabilities 2021: $9,925,580Net Assets 2021: -$3,953,8772021Assets 2022: $5,660,082Liabilities 2022: $9,753,247Net Assets 2022: -$4,093,1652022Assets 2023: $5,103,924Liabilities 2023: $9,615,891Net Assets 2023: -$4,511,9672023Assets 2024: $4,479,437Liabilities 2024: $9,380,141Net Assets 2024: -$4,900,7042024

Highlighted filing

2020

Assets$6,324,060
Liabilities$9,930,456
Net Assets-$3,606,396
Open 2020 Filing

Operations Trend

Revenue Growth25th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $166,450Expenses 2011: $60,309Net Income 2011: $106,1412011Expenses 2012: $58,6592012Revenue 2013: -$59,491Expenses 2013: $66,937Net Income 2013: -$126,4282013Revenue 2015: $25,403Expenses 2015: $37,690Net Income 2015: -$12,2872015Revenue 2016: $1,814,049Expenses 2016: $2,179,201Net Income 2016: -$365,1522016Revenue 2017: $1,882,736Expenses 2017: $2,293,749Net Income 2017: -$411,0132017Revenue 2018: $2,252,962Expenses 2018: $2,286,254Net Income 2018: -$33,2922018Revenue 2019: $1,965,737Expenses 2019: $2,351,485Net Income 2019: -$385,7482019Revenue 2020: $1,887,257Expenses 2020: $2,308,746Net Income 2020: -$421,4892020Revenue 2021: $1,901,457Expenses 2021: $2,248,938Net Income 2021: -$347,4812021Revenue 2022: $2,108,250Expenses 2022: $2,247,538Net Income 2022: -$139,2882022Revenue 2023: $2,007,710Expenses 2023: $2,426,512Net Income 2023: -$418,8022023Revenue 2024: $2,067,321Expenses 2024: $2,456,058Net Income 2024: -$388,7372024

Highlighted filing

2020

Revenue$1,887,257
Expenses$2,308,746
Net Income-$421,489
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Aug 16, 2021
Return Version
2019v5.0
Gross Receipts
$1,887,257
Mission and Program Overview

Mission

Northeastern is a u.s. Department of housing and urban development (hud) multifamily housing project consisting of 111 units. It is regulated by hud as to rental charges and operating requirements.

Northeastern is a u.s department of housing and urban development (hud) multifamily housing project consisting of 111 units. It is regulated by hud as to rental charges and operating requirements.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,115,478$3,768,446▼ $347,032
Prepaid Expenses and Deferred Charges$109,091$107,043▼ $2,048
Pledges and Grants Receivable$27,751$27,751→ $0
Accounts Receivable$18,434$21,153▲ $2,719
Cash and Non-Interest-Bearing Accounts$8,542$5,749▼ $2,793
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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$6,988,499$6,324,060▼ $664,439
Other Assets Total$2,709,203$2,393,918▼ $315,285
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,694,300$9,520,370▼ $173,930
Accounts Payable and Accrued Expenses$333,202$268,290▼ $64,912
Other Liabilities$139,625$133,904▼ $5,721
Deferred Revenue$6,279$7,892▲ $1,613
Total Liabilities$10,173,406$9,930,456▼ $242,950
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,184,907$-3,606,396▼ $421,489
Total Net Assets Fund Balance$-3,184,907$-3,606,396▼ $421,489
Total Liabilities and Net Assets / Fund Balance$6,988,499$6,324,060▼ $664,439

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,472,335$6,957,252$10,429,587
Equipment$157,600$702,662$860,262
Land$138,511-$138,511
Other Assets Org$5,862--
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Daniel HonorePresident
Dalton BurkeBoard Member
PASTOR Winston StephensonBoard Member
Sherolin DaleyBoard Member
Sylvia ModestBoard Member
Oswald EuellSecretary
Robert ChandlerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Frontline Building ServiceSecurity Guards245-06 JERICHO TURNPIKE, Floral Park, NY 11001$187,144
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,866,719
Investment Income
$885
Other Revenue
$19,653
Change in Net Assets
$-421,489

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,887,257
Total Revenue per Audited Statements
$1,887,257
Total Revenue per Form 990
$1,887,257
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,878,693
Salaries, Compensation, and Employee Benefits$430,053
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$379,852--$379,852
Interest$369,839$5,513-$375,352
Other Salaries and Wages$213,473$99,921-$313,394
Occupancy$244,561--$244,561
Fees for Services Other$195,141$11,260-$206,401
Insurance$113,025--$113,025
Other Employee Benefits$63,178$29,572-$92,750
Fees for Services Management-$86,605-$86,605
Office Expenses-$42,557-$42,557
Fees for Services Accounting-$28,320-$28,320
Other Expenses$1,468$23,891-$25,359
Payroll Taxes$16,286$7,623-$23,909
All Other Expenses$12,822--$12,822
Fees for Services Legal-$771-$771
Total Functional Expenses$1,944,609$364,137$0$2,308,746

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,308,746
Total Expenses per Audited Statements$2,308,746
Total Expenses per Form 990$2,308,746
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
Due to Sponsors$74,204
TENants' security deposit payable$31,139
Accrued Interest Payable$28,561
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Organization delegate control over managements to duties to a management company ' management agreement and hud management certificate.”

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

“Form 990 is reviewed by the management company and then sent to all the board members for their review and comments before it is filed.”

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

“Organization regularly and consistently monitors and enforces compliance with conflict of interest policy.”

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

“All governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Northeastern Conference House
EIN
11-2574893
Phone
7187122878
Address
130-10 GUY R BREWER BOULEVARD, JAMAICA, NY 11434

Signing Officer

Name
Daniel Honore
Title
President
Signed
2021-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Honore
Formed
1978
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
6

Preparer

Firm
Ncheng Llp Certified Public Accountants
Address
40 WALL ST 32ND FL, NEW YORK, NY 10005
Preparer
Kwabina Appiah
Phone
2127850100
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The review process has not changed from the prior year.”

Financial Statement Notes

Part X : FIN48 Footnote

“Northeastern is exempt from income taxes under 501(c)(3) of the internal revenue code. Northeastern has analyzed tax positions taken for filing with the internal revenue service and state jurisdictions where it operates. Northeastern does not anticipate any significant uncertain tax postions that would require recognition in the financial statements. Periods ending september 30, 2017 and subsequent remain subject to examination by the taxing authorities.”

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IRS990/PrincipalOfficerNm0DANIEL HONORE
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-421489
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt049439
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt052755
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IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0885
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0752
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0891
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03191
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01755176
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt09186638
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0885
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01179
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0752
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0891
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03191
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06898
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt019653
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt07461
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt02927
IRS990ScheduleA/OtherIncome509Grp/TotalAmt069792
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEVELOPMENT IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVES AND ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANTS' SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3UTILITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt174204
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt231139
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO SPONSORS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENants' security deposit payable
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NORTHEASTERN IS EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. NORTHEASTERN HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. NORTHEASTERN DOES NOT ANTICIPATE ANY SIGNIFICANT UNCERTAIN TAX POSTIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PERIODS ENDING SEPTEMBER 30, 2017 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt0133904
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,324,060
Liabilities
$9,930,456
Net assets
-$3,606,396
Revenue
$1,887,257
Expenses
$2,308,746
Net income
-$421,489
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.48$9.38$4.90$2.07$2.46$0.39
2023Detailed filing. Detailed filing data is available for this year.$5.10$9.62$4.51$2.01$2.43$0.42
2022Detailed filing. Detailed filing data is available for this year.$5.66$9.75$4.09$2.11$2.25$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.97$9.93$3.95$1.90$2.25$0.35
2020Detailed filing. Detailed filing data is available for this year.$6.32$9.93$3.61$1.89$2.31$0.42
2019Detailed filing. Detailed filing data is available for this year.$6.99$10.2$3.18$1.97$2.35$0.39
2018Detailed filing. Detailed filing data is available for this year.$7.38$10.2$2.80$2.25$2.29$0.03
2017Detailed filing. Detailed filing data is available for this year.$7.78$10.5$2.77$1.88$2.29$0.41
2016Detailed filing. Detailed filing data is available for this year.$8.84$11.2$2.35$1.81$2.18$0.37
2015Detailed filing. Detailed filing data is available for this year.$9.07$11.1$1.99$0.03$0.04$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$5.20$2.04$0.06$0.07$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$5.13$1.91$0.06
2011Summary only. Only limited summary data is available for this year.$3.29$5.35$2.06$0.17$0.06$0.11
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $5M-$10M nonprofits