Civic Intelligence

984 988 Greene Avenue Housing Development Fund Corporation

990 • Fiscal year 2014 • EIN 11-3225439

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 12, 2015

Organization Profile
132 Ralph AvenueBrooklyn, NY 11233

(718) 453-9490

Siviq Scores

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

Liabilities / Assets

98th percentile

1.83x

Higher debt load relative to assets than 98% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

98th percentile

11.39x

Higher debt load relative to revenue than 98% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

3rd percentile

-88%

Higher net margin than 3% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

84th percentile

$150,000

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 72.5% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

18th percentile

-5.6%

Faster asset growth than 18% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

19th percentile

-12%

Faster revenue growth than 19% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,285,986

Down $76,598 (-5.6%) from 2013

Net Assets

Down

-$1,068,876

Down $181,635 (-20%) from 2013

Liabilities

Up

$2,354,862

Up $105,037 (+4.7%) from 2013

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin3rd percentile

Revenue

Down

$206,792

Down $28,971 (-12%) from 2013

Expenses

Up

$389,323

Up $71,780 (+23%) from 2013

Net Income

Down

-$182,531

Down $100,751 (-123%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $1,622,499Liabilities 2010: $2,293,736Net Assets 2010: -$671,2372010Assets 2011: $1,534,714Liabilities 2011: $2,279,062Net Assets 2011: -$744,3482011Assets 2012: $1,454,762Liabilities 2012: $2,262,041Net Assets 2012: -$807,2792012Assets 2013: $1,362,584Liabilities 2013: $2,249,825Net Assets 2013: -$887,2412013Assets 2014: $1,285,986Liabilities 2014: $2,354,862Net Assets 2014: -$1,068,8762014Assets 2015: $1,219,534Liabilities 2015: $2,421,728Net Assets 2015: -$1,202,1942015Assets 2016: $1,171,582Liabilities 2016: $2,511,895Net Assets 2016: -$1,340,3132016Assets 2017: $1,182,424Liabilities 2017: $2,682,552Net Assets 2017: -$1,500,1282017

Highlighted filing

2014

Assets$1,285,986
Liabilities$2,354,862
Net Assets-$1,068,876
Open 2014 Filing

Operations Trend

Revenue Growth19th percentile

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

$600K$400K$200K$0-$200KRevenue 2010: $255,443Expenses 2010: $385,475Net Income 2010: -$130,0322010Revenue 2011: $286,868Expenses 2011: $359,968Net Income 2011: -$73,1002011Expenses 2012: $334,3392012Revenue 2013: $235,763Expenses 2013: $317,543Net Income 2013: -$81,7802013Revenue 2014: $206,792Expenses 2014: $389,323Net Income 2014: -$182,5312014Revenue 2015: $224,378Expenses 2015: $357,573Net Income 2015: -$133,1952015Revenue 2016: $228,518Expenses 2016: $352,968Net Income 2016: -$124,4502016Revenue 2017: $367,148Expenses 2017: $528,406Net Income 2017: -$161,2582017

Highlighted filing

2014

Revenue$206,792
Expenses$389,323
Net Income-$182,531
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 12, 2015
Return Version
2014v5.0
Gross Receipts
$206,792
Mission and Program Overview

Mission

The corporation is committed in providing affordable housing units for families of low income in the central sections of Brooklyn New York

To provide and manage affordable housing units for low income families in the central sections of Brooklyn New York

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,309,505$1,232,161▼ $77,344
Accounts Receivable$11,258$22,852▲ $11,594
Savings and Temporary Cash Investments$7,674$9,478▲ $1,804
Prepaid Expenses and Deferred Charges$2,413$3,121▲ $708
Cash and Non-Interest-Bearing Accounts$13,353$911▼ $12,442
Total Assets$1,362,584$1,285,986▼ $76,598
Other Assets Total$18,381$17,463▼ $918
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,833,028$1,824,422▼ $8,606
Other Liabilities$403,574$465,933▲ $62,359
Accounts Payable and Accrued Expenses$13,223$64,507▲ $51,284
Total Liabilities$2,249,825$2,354,862▲ $105,037
Net Assets / Fund Balance
Unrestricted Net Assets$-887,241$-1,068,876▼ $181,635
Total Net Assets Fund Balance$-887,241$-1,068,876▼ $181,635
Total Liabilities and Net Assets / Fund Balance$1,362,584$1,285,986▼ $76,598

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$809,664$419,009$1,228,673
Buildings$419,593$500,407$920,000
Equipment$2,904$33,106$36,010
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleOtherTotal
Jeff DunstonExecutive Director$150,000$150,000

Board Members and Trustees

NameTitle
James HenryChair
Elliott RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$204,760
Investment Income
$232
Other Revenue
$1,800
Change in Net Assets
$-182,531

Audited Revenue Reconciliation

Revenue per Audited Statements
$206,792
Total Revenue per Audited Statements
$206,792
Total Revenue per Form 990
$206,792
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$389,323
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
Occupancy$111,683--$111,683
Depreciation Depletion$78,679--$78,679
Interest$33,274--$33,274
Insurance$19,241--$19,241
Fees for Services Management$14,930--$14,930
Fees for Services Other$7,432--$7,432
Fees for Services Accounting$6,473--$6,473
Office Expenses$5,921--$5,921
Fees for Services Legal$4,069--$4,069
All Other Expenses$407--$407
Other Expenses$337--$337
Total Functional Expenses$389,323$0$0$389,323

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$389,323
Total Expenses per Audited Statements$389,323
Total Expenses per Form 990$389,323
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Sponsoring CompanyAdministrationYes$63,605
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$320,622
Prepaid rent$91,850
Federal income taxes$37,105
Due to Affliates$16,320
Secuirty Deposits$36
Water Sewer Payable-
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 family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Section B, Line 11B

“Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and completed. Subsequently a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board of directors 990 will be fillied.”

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

“Board members, officers and employees report annually if there is any conflict of interest that appears to exist. If there is one then the Management and the Board of Directors will meet with the individual to obtain all facts. Subsequently, a vote will ensure if the matter it is indeed a conflict of interest. If it is found to be a conflict of interest then the individual will refrain from participating in the deliberation and decision making concerning the matter that give rise to the conflict.”

Form 990, Part VI, Section B, Line 15A

“The CEO salary is reviewed and approved by the board of directors and then sent to Human Resource and other key employees. This process is done annually.”

Form 990, Part VI, Section B, Line 19

“The governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
984-988 Greene Avenue Hdfc
EIN
11-3225439
Phone
7184539490
Address
132 RALPH AVENUE, BROOKLYN, NY 11233

Signing Officer

Name
Jeffery Dunston
Title
President
Signed
2015-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Dunston
Formed
1994
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Ivan Armstrong CPA
Address
233 Broadway Ste 2075, New York, NY 10279
Preparer
Ivan Armstrong CPA
Phone
2122332777
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

“There is no change in the audit review process during the year.”

Form 990, Part XI, Line 5

“There is no change in the audit review process during the year.”

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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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IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0419593
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0500407
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0920000
IRS990ScheduleD/EquipmentGrp/BookValueAmt02904
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033106
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt036010
IRS990ScheduleD/ExpensesSubtotalAmt0389323
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0809664
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0419009
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01228673
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037105
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1320622
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt216320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt491850
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Interest Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Due to Affliates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Secuirty Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Prepaid rent
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5Water Sewer Payable
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0206792
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01232161
IRS990ScheduleD/TotalExpensesPerForm990Amt0389323
IRS990ScheduleD/TotalLiabilityAmt0465933
IRS990ScheduleD/TotalRevenuePerForm990Amt0206792
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0206792
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0389323
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0NEBHDCO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Sponsoring Company
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt063605
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Administration
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and completed. Subsequently a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board of directors 990 will be fillied.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members, officers and employees report annually if there is any conflict of interest that appears to exist. If there is one then the Management and the Board of Directors will meet with the individual to obtain all facts. Subsequently, a vote will ensure if the matter it is indeed a conflict of interest. If it is found to be a conflict of interest then the individual will refrain from participating in the deliberation and decision making concerning the matter that give rise to the conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The CEO salary is reviewed and approved by the board of directors and then sent to Human Resource and other key employees. This process is done annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents, conflict of interest policy and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4There is no change in the audit review process during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5There is no change in the audit review process during the year.
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 5
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt063605
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Service Rendered
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NEBHDCO
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0l
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01362584
IRS990/TotalAssetsEOYAmt01285986
IRS990/TotalAssetsGrp/BOYAmt01362584
IRS990/TotalAssetsGrp/EOYAmt01285986
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0389323
IRS990/TotalFunctionalExpensesGrp/TotalAmt0389323
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02249825
IRS990/TotalLiabilitiesEOYAmt02354862
IRS990/TotalLiabilitiesGrp/BOYAmt02249825
IRS990/TotalLiabilitiesGrp/EOYAmt02354862
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-887241
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1068876
IRS990/TotalProgramServiceExpensesAmt0389323
IRS990/TotalProgramServiceRevenueAmt0204760
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0206792
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0206792
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01362584
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01285986
IRS990/TotReportableCompRltdOrgAmt0150000
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-887241
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1068876
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0132 RALPH AVENUE
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011233
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,285,986
Liabilities
$2,354,862
Net assets
-$1,068,876
Revenue
$206,792
Expenses
$389,323
Net income
-$182,531
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$1.18$2.68$1.50$0.37$0.53$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.17$2.51$1.34$0.23$0.35$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.22$2.42$1.20$0.22$0.36$0.13
2014Detailed filing. Detailed filing data is available for this year.$1.29$2.35$1.07$0.21$0.39$0.18
2013Detailed filing. Detailed filing data is available for this year.$1.36$2.25$0.89$0.24$0.32$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$2.26$0.81$0.33
2011Summary only. Only limited summary data is available for this year.$1.53$2.28$0.74$0.29$0.36$0.07
2010Summary only. Only limited summary data is available for this year.$1.62$2.29$0.67$0.26$0.39$0.13