Civic Intelligence

Webster Terrace Housing Development Fund Company Inc.

990 • Fiscal year 2020 • EIN 11-2650864

Jul 01, 2019 to Jun 30, 2020 • Filed on Aug 04, 2021

Organization ProfileN/A
4006-18th AvenueBrooklyn, NY 11218

(718) 435-1300

Siviq Scores

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

Liabilities / Assets

10th percentile

0.02x

Higher debt load relative to assets than 10% of similar nonprofits.

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

Liabilities / Revenue

26th percentile

0.51x

Higher debt load relative to revenue than 26% of similar nonprofits.

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

Net Margin

75th percentile

18%

Higher net margin than 75% 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

61st percentile

2.2%

Faster asset growth than 61% of similar nonprofits.

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

Revenue Growth

32nd percentile

-1.4%

Faster revenue growth than 32% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$6,723,247

Up $144,322 (+2.2%) from 2019

Net Assets

Up

$6,615,247

Up $38,067 (+0.6%) from 2019

Liabilities

Up

$108,000

Up $106,255 (+6089%) from 2019

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin75th percentile

Revenue

Down

$210,622

Down $2,891 (-1.4%) from 2019

Expenses

Up

$172,554

Up $126,167 (+272%) from 2019

Net Income

Down

$38,068

Down $129,058 (-77%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $5,581,643Liabilities 2011: $278,609Net Assets 2011: $5,303,0342011Assets 2012: $5,717,654Liabilities 2012: $263,745Net Assets 2012: $5,453,9092012Assets 2013: $5,868,502Liabilities 2013: $263,745Net Assets 2013: $5,604,7572013Assets 2014: $6,036,215Liabilities 2014: $350,045Net Assets 2014: $5,686,1702014Assets 2015: $6,211,319Liabilities 2015: $166,545Net Assets 2015: $6,044,7742015Assets 2016: $6,219,380Liabilities 2016: $76,745Net Assets 2016: $6,142,6352016Assets 2017: $6,252,601Liabilities 2017: $1,745Net Assets 2017: $6,250,8562017Assets 2018: $6,411,799Liabilities 2018: $1,745Net Assets 2018: $6,410,0542018Assets 2019: $6,578,925Liabilities 2019: $1,745Net Assets 2019: $6,577,1802019Assets 2020: $6,723,247Liabilities 2020: $108,000Net Assets 2020: $6,615,2472020Assets 2021: $6,798,611Liabilities 2021: $125,000Net Assets 2021: $6,673,6112021Assets 2022: $6,882,838Liabilities 2022: $155,000Net Assets 2022: $6,727,8382022Assets 2023: $5,430,155Liabilities 2023: $100,000Net Assets 2023: $5,330,1552023Assets 2024: $5,505,000Liabilities 2024: $225,000Net Assets 2024: $5,280,0002024

Highlighted filing

2020

Assets$6,723,247
Liabilities$108,000
Net Assets$6,615,247
Open 2020 Filing

Operations Trend

Revenue Growth32nd percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2011: $20,2842011Revenue 2012: $156,216Expenses 2012: $5,340Net Income 2012: $150,8762012Revenue 2013: $161,113Expenses 2013: $10,264Net Income 2013: $150,8492013Revenue 2014: $167,873Expenses 2014: $86,460Net Income 2014: $81,4132014Revenue 2015: $175,265Expenses 2015: -$183,339Net Income 2015: $358,6042015Revenue 2016: $180,605Expenses 2016: $82,744Net Income 2016: $97,8612016Revenue 2017: $190,576Expenses 2017: $82,355Net Income 2017: $108,2212017Revenue 2018: $201,641Expenses 2018: $42,443Net Income 2018: $159,1982018Revenue 2019: $213,513Expenses 2019: $46,387Net Income 2019: $167,1262019Revenue 2020: $210,622Expenses 2020: $172,554Net Income 2020: $38,0682020Revenue 2021: $210,054Expenses 2021: $151,690Net Income 2021: $58,3642021Revenue 2022: $216,980Expenses 2022: $162,753Net Income 2022: $54,2272022Revenue 2023: $226,363Expenses 2023: $1,624,047Net Income 2023: -$1,397,6842023Revenue 2024: $235,834Expenses 2024: $285,989Net Income 2024: -$50,1552024

Highlighted filing

2020

Revenue$210,622
Expenses$172,554
Net Income$38,068
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Aug 4, 2021
Return Version
2019v5.2
Gross Receipts
$210,622
Mission and Program Overview

Mission

Webster terrace housing development fund's mission is to provide & operate subsidized multi-family housing for low income seniors.

Provide housing for low income senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,195,933$5,749,297▲ $553,364
Savings and Temporary Cash Investments$366,132$98,279▼ $267,853
Cash and Non-Interest-Bearing Accounts$52,626$44,106▼ $8,520
Total Assets$6,578,925$6,723,247▲ $144,322
Other Assets Total$964,234$831,565▼ $132,669
Liabilities
Accounts Payable and Accrued Expenses$1,745$108,000▲ $106,255
Total Liabilities$1,745$108,000▲ $106,255
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,577,180$6,615,247▲ $38,067
Total Net Assets Fund Balance$6,577,180$6,615,247▲ $38,067
Total Liabilities and Net Assets / Fund Balance$6,578,925$6,723,247▲ $144,322

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$831,565--
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
David SingerPresident
Menachem ShayovichV.p./secy
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$210,622
Other Revenue
$0
Change in Net Assets
$38,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$147,554
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$25,000--$25,000
Fees for Services Management-$8,000-$8,000
Fees for Services Accounting-$6,500-$6,500
Other Expenses$132,669$110-$110
Total Functional Expenses$157,669$14,885$0$172,554
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Culver Housing Developments LLCBrooklyn, NY-To Provide Assistance to Entity Dedicated to Provide Housing to Low Income Families$25,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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, Section B, line 11B

“The tax return is delivered in draft form for review by the officers. Once reviewed and changes made, the returns are finalized and mailed to the executive office for signature.”

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

“Board members and key employees fill out a conflict of interest policy. If an issue arises during the year it is discussed at next board meeting”

Form 990, Part VI, Section B, line 15

“There are no compensated officers or employees currently. If the organization will compensate any officer or employee it will follow the company compensation policy. Company policy: compensation for all officers will be reviewed by the board of trustees. An analysis of salaries & benefits is prepared. Comparable organization compensation packages are compilied from form 990's filed with the internal revenue service. The analysis is presented to the board for review. This is process is completed without participation of compensated members of the board. All compensation decisions requires unanimous approval of the voting members of the board. Upon approval, the board informs the salaried officers of the board decision.”

Form 990, Part VI, Section C, line 19

“The annual tax return, the governing documents & financial statements are available for public inspection.”

Filing and Contact Details

Filer

Filer Name
Webster Terrace Housing Development Fund
EIN
11-2650864
Phone
7184351300
Address
4006-18TH AVENUE, BROOKLYN, NY 11218

Signing Officer

Name
David Singer
Title
President
Phone
7184351300
Signed
2021-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Singer
Formed
1985
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
HIRSCHOELBAUMBRAM & HANOVER CPA's PC
Address
111 BROADWAY, NEW YORK, NY 10006
Preparer
Samuel Oelbaum
Phone
2122278034
Raw XML Appendix304 raw XML fields

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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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MONITORS ELIGIBILTY RECORDS OF ALL GRANT RECIPIENTS. EACH APPLICANT RECORD IS REVIEWED AND SUBJECT TO DETERMINATION BASED UPON QUALIFING CRITERIA INCLUDING FOLLOW UP MONITORING.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS DELIVERED IN DRAFT FORM FOR REVIEW BY THE OFFICERS. ONCE REVIEWED AND CHANGES MADE, THE RETURNS ARE FINALIZED AND MAILED TO THE EXECUTIVE OFFICE FOR SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS AND KEY EMPLOYEES FILL OUT A CONFLICT OF INTEREST POLICY. IF AN ISSUE ARISES DURING THE YEAR IT IS DISCUSSED AT NEXT BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMPENSATED OFFICERS OR EMPLOYEES CURRENTLY. IF THE ORGANIZATION WILL COMPENSATE ANY OFFICER OR EMPLOYEE IT WILL FOLLOW THE COMPANY COMPENSATION POLICY. COMPANY POLICY: COMPENSATION FOR ALL OFFICERS WILL BE REVIEWED BY THE BOARD OF TRUSTEES. AN ANALYSIS OF SALARIES & BENEFITS IS PREPARED. COMPARABLE ORGANIZATION COMPENSATION PACKAGES ARE COMPILIED FROM FORM 990'S FILED WITH THE INTERNAL REVENUE SERVICE. THE ANALYSIS IS PRESENTED TO THE BOARD FOR REVIEW. THIS IS PROCESS IS COMPLETED WITHOUT PARTICIPATION OF COMPENSATED MEMBERS OF THE BOARD. ALL COMPENSATION DECISIONS REQUIRES UNANIMOUS APPROVAL OF THE VOTING MEMBERS OF THE BOARD. UPON APPROVAL, THE BOARD INFORMS THE SALARIED OFFICERS OF THE BOARD DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ANNUAL TAX RETURN, THE GOVERNING DOCUMENTS & FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04006-18TH AVENUE
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011218
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID SINGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07184351300
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEBSTER TERRACE HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COINC
ReturnHeader/Filer/BusinessNameControlTxt0WEBS
ReturnHeader/Filer/EIN0112650864
ReturnHeader/Filer/PhoneNum07184351300
ReturnHeader/Filer/USAddress/AddressLine1Txt04006-18TH AVENUE
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011218
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133641196
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HIRSCHOELBAUMBRAM & HANOVER CPA's PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0111 BROADWAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010006
ReturnHeader/PreparerPersonGrp/PhoneNum02122278034
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL OELBAUM
ReturnHeader/ReturnTs02021-10-01T13:22:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$6,723,247
Liabilities
$108,000
Net assets
$6,615,247
Revenue
$210,622
Expenses
$172,554
Net income
$38,068
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.51$0.23$5.28$0.24$0.29$0.05
2023Detailed filing. Detailed filing data is available for this year.$5.43$0.10$5.33$0.23$1.62$1.40
2022Detailed filing. Detailed filing data is available for this year.$6.88$0.16$6.73$0.22$0.16$0.05
2021Detailed filing. Detailed filing data is available for this year.$6.80$0.13$6.67$0.21$0.15$0.06
2020Detailed filing. Detailed filing data is available for this year.$6.72$0.11$6.62$0.21$0.17$0.04
2019Detailed filing. Detailed filing data is available for this year.$6.58$0.00$6.58$0.21$0.05$0.17
2018Detailed filing. Detailed filing data is available for this year.$6.41$0.00$6.41$0.20$0.04$0.16
2017Detailed filing. Detailed filing data is available for this year.$6.25$0.00$6.25$0.19$0.08$0.11
2016Detailed filing. Detailed filing data is available for this year.$6.22$0.08$6.14$0.18$0.08$0.10
2015Detailed filing. Detailed filing data is available for this year.$6.21$0.17$6.04$0.18$0.18$0.36
2014Detailed filing. Detailed filing data is available for this year.$6.04$0.35$5.69$0.17$0.09$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.87$0.26$5.60$0.16$0.01$0.15
2012Summary only. Only limited summary data is available for this year.$5.72$0.26$5.45$0.16$0.01$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.58$0.28$5.30$0.02