Civic Intelligence

984 988 Greene Avenue Housing Development Fund Corporation

990 • Fiscal year 2017 • EIN 11-3225439

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

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

99th percentile

2.27x

Higher debt load relative to assets than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

7.31x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

7th percentile

-44%

Higher net margin than 7% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

94th percentile

$275,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 74.9% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

42nd percentile

0.9%

Faster asset growth than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

61%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$1,182,424

Up $10,842 (+0.9%) from 2016

Net Assets

Down

-$1,500,128

Down $159,815 (-12%) from 2016

Liabilities

Up

$2,682,552

Up $170,657 (+6.8%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin7th percentile

Revenue

Up

$367,148

Up $138,630 (+61%) from 2016

Expenses

Up

$528,406

Up $175,438 (+50%) from 2016

Net Income

Down

-$161,258

Down $36,808 (-30%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2017

Assets$1,182,424
Liabilities$2,682,552
Net Assets-$1,500,128
Open 2017 Filing

Operations Trend

Revenue Growth88th 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

2017

Revenue$367,148
Expenses$528,406
Net Income-$161,258
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$367,148
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$1,115,250$1,104,350▼ $10,900
Accounts Receivable$14,314$29,937▲ $15,623
Savings and Temporary Cash Investments$19,769$22,637▲ $2,868
Prepaid Expenses and Deferred Charges$7,592$6,058▼ $1,534
Cash and Non-Interest-Bearing Accounts-$3,365-
Total Assets$1,171,582$1,182,424▲ $10,842
Other Assets Total$14,657$16,077▲ $1,420
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,798,085$1,780,729▼ $17,356
Other Liabilities$617,490$760,436▲ $142,946
Accounts Payable and Accrued Expenses$96,320$141,387▲ $45,067
Total Liabilities$2,511,895$2,682,552▲ $170,657
Net Assets / Fund Balance
Unrestricted Net Assets$-1,340,313$-1,500,128▼ $159,815
Total Net Assets Fund Balance$-1,340,313$-1,500,128▼ $159,815
Total Liabilities and Net Assets / Fund Balance$1,171,582$1,182,424▲ $10,842

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$781,182$554,018$1,335,200
Buildings$319,230$600,770$920,000
Equipment$3,938$35,792$39,730
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
James HenryChair
Jeff DunstonCEO
Elliott RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$366,071
Investment Income
$674
Other Revenue
$403
Change in Net Assets
$-161,258

Audited Revenue Reconciliation

Revenue per Audited Statements
$367,148
Total Revenue per Audited Statements
$367,148
Total Revenue per Form 990
$367,148
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$528,406
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$171,218--$171,218
Depreciation Depletion$80,450--$80,450
Fees for Services Management$27,817--$27,817
All Other Expenses$25,374--$25,374
Fees for Services Other$14,263--$14,263
Fees for Services Accounting$7,807--$7,807
Office Expenses$7,355--$7,355
Other Expenses$124--$124
Total Functional Expenses$528,406$0$0$528,406

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$528,406
Total Expenses per Audited Statements$528,406
Total Expenses per Form 990$528,406
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 CompanyManagementYes$121,380
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$411,023
Prepaid rent$255,803
Federal income taxes$64,593
Secuirty Deposits$15,129
Due to Affliates$13,888
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
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
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, the 990 will be filed.”

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 a conflict of interest, then the Management and the Board of Directors will meet with the individual to obtain all the facts. Subsequently, a vote will ensure if the matter 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 gives 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
2018-11-15
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 Suite 2075, New York, NY 10279
Preparer
Justin B Armstrong
Phone
2122332777
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“Unrealized gains and losses on investments are carried at market value.”

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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/Amt1411023
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt213888
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt315129
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4255803
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/RevenueSubtotalAmt0367148
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01104350
IRS990ScheduleD/TotalExpensesPerForm990Amt0528406
IRS990ScheduleD/TotalLiabilityAmt0760436
IRS990ScheduleD/TotalRevenuePerForm990Amt0367148
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0367148
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0528406
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0275000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEFF DUNSTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0275000
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0NEBHDC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Sponsoring Company
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0121380
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Management
IRS990/ScheduleORequiredInd0true
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, the 990 will be filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members, officers, and employees report annually if there is any conflict of interest that appears to exist. If there is a conflict of interest, then the Management and the Board of Directors will meet with the individual to obtain all the facts. Subsequently, a vote will ensure if the matter 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 gives 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/ExplanationTxt4Unrealized gains and losses on investments are carried at market value.
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 5
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NEBHDC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0112737223
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 c 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RENTAL PROPRTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0132 RALPH AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd011233
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0121380
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Service Rendered
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NEBHDC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0l
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01171582
IRS990/TotalAssetsEOYAmt01182424
IRS990/TotalAssetsGrp/BOYAmt01171582
IRS990/TotalAssetsGrp/EOYAmt01182424
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0528406
IRS990/TotalFunctionalExpensesGrp/TotalAmt0528406
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02511895
IRS990/TotalLiabilitiesEOYAmt02682552
IRS990/TotalLiabilitiesGrp/BOYAmt02511895
IRS990/TotalLiabilitiesGrp/EOYAmt02682552
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1340313
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1500128
IRS990/TotalProgramServiceExpensesAmt0528406
IRS990/TotalProgramServiceRevenueAmt0366071
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0367148
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0367148
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01171582
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01182424
IRS990/TotReportableCompRltdOrgAmt0275000
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1340313
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1500128
IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,182,424
Liabilities
$2,682,552
Net assets
-$1,500,128
Revenue
$367,148
Expenses
$528,406
Net income
-$161,258
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