Civic Intelligence

55 Whipple St Housing Development Fund

EIN 11-3352060 • 501(c)4 • Brooklyn, NY

Profile

Organized to develop, construct, own, operate and manage a multifamily residential building that contains 51 residential unit for low-income individuals and families.

434 South 5th StBrooklyn, NY 11211

n/A

Siviq Scores

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

Liabilities / Assets

98th percentile

1.14x

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

501(c)4 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

29.29x

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

501(c)4 • $10M-$25M nonprofits • Source year 2024

Net Margin

6th percentile

-55%

Higher net margin than 6% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

21st percentile

-1.7%

Faster asset growth than 21% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$16,604,212

Down $282,063 (-1.7%) from 2023

Liabilities

Up

$18,914,531

Up $73,950 (+0.4%) from 2023

Net Assets

Down

-$2,310,319

Down $356,013 (-18%) from 2023

Revenue

Up

$645,668

Up $65,353 (+11%) from 2023

Expenses

Down

$1,001,681

Down $27,435 (-2.7%) from 2023

Net Income

Up

-$356,013

Up $92,788 (+21%) from 2023

Trend Graphs

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2016: $1Liabilities 2016: $02016Assets 2017: $1Liabilities 2017: $02017Assets 2019: $4,019,111Liabilities 2019: $8,840,714Net Assets 2019: -$4,821,6032019Assets 2020: $8,084,200Liabilities 2020: $8,980,820Net Assets 2020: -$896,6202020Assets 2021: $13,310,618Liabilities 2021: $8,992,836Net Assets 2021: $4,317,7822021Assets 2022: $17,109,235Liabilities 2022: $18,433,747Net Assets 2022: -$1,324,5122022Assets 2023: $16,886,275Liabilities 2023: $18,840,581Net Assets 2023: -$1,954,3062023Assets 2024: $16,604,212Liabilities 2024: $18,914,531Net Assets 2024: -$2,310,3192024

Highlighted filing

2024

Assets$16,604,212
Liabilities$18,914,531
Net Assets-$2,310,319

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $0Expenses 2016: $0Net Income 2016: $02016Revenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2019: $507,972Expenses 2019: $790,743Net Income 2019: -$282,7712019Revenue 2020: $4,853,722Expenses 2020: $928,739Net Income 2020: $3,924,9832020Revenue 2021: $6,000,238Expenses 2021: $785,836Net Income 2021: $5,214,4022021Revenue 2022: $646,956Expenses 2022: $815,383Net Income 2022: -$168,4272022Revenue 2023: $580,315Expenses 2023: $1,029,116Net Income 2023: -$448,8012023Revenue 2024: $645,668Expenses 2024: $1,001,681Net Income 2024: -$356,0132024

Highlighted filing

2024

Revenue$645,668
Expenses$1,001,681
Net Income-$356,013

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$645,668
Mission and Program Overview

Mission

Organized to develop, construct, own, operate and manage a multifamily residential building that contains 51 residential unit for low-income individuals and families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,000,315$5,783,915▼ $216,400
Cash and Non-Interest-Bearing Accounts$485,153$397,998▼ $87,155
Prepaid Expenses and Deferred Charges$30,203$32,827▲ $2,624
Accounts Receivable$18,958$29,790▲ $10,832
Total Assets$16,886,275$16,604,212▼ $282,063
Other Assets Total$10,351,646$10,359,682▲ $8,036
Liabilities
Deferred Revenue$9,761,049$9,748,978▼ $12,071
Unsecured Notes Loans Payable$6,612,162$6,614,335▲ $2,173
Accounts Payable and Accrued Expenses$2,421,190$2,486,671▲ $65,481
Other Liabilities$17,684$36,051▲ $18,367
Escrow Account Liability$28,496$28,496→ $0
Total Liabilities$18,840,581$18,914,531▲ $73,950
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,954,306$-2,310,319▼ $356,013
Total Net Assets Fund Balance$-1,954,306$-2,310,319▼ $356,013
Total Liabilities and Net Assets / Fund Balance$16,886,275$16,604,212▼ $282,063

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,141,718$5,294,832$10,436,550
Land$635,245-$635,245
Equipment$6,952$21,394$28,346
Other Assets Org$7,953,845--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Maisha MoralesBoard Chairperson
Joe PachecoBoard 1st Vice Chairperson
Martin NeedlemanBoard 2nd Vice Chairperson
Annette RosadoBoard Member
Damaris ReyesBoard Member
Gladys OgandoBoard Member
JIM O'SHEABoard Member
Maldonado EugenioBoard Member
Maria OcasioBoard Member
Mendez RosauraBoard Member
Ray NarvaezBoard Member
Ricardo MolinaBoard Member
Teresa CruzBoard Member
Yowalkz RosarioBoard Member
Lenette BerriosDeputy Executive Director
Juan RamosExecutive Director
David LopezSecretary of the Board
Israel RosarioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$548,461
Investment Income
$22,976
Other Revenue
$74,231
Change in Net Assets
$-356,013
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,001,681
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
Depreciation Depletion$261,882--$261,882
Other Expenses$243,587--$243,587
Occupancy$136,656--$136,656
Insurance$107,520--$107,520
Interest$92,340--$92,340
Fees for Services Other$73,557--$73,557
Fees for Services Management-$59,758-$59,758
Fees for Services Accounting-$17,021-$17,021
Office Expenses$6,878--$6,878
Fees for Services Legal$2,482--$2,482
Total Functional Expenses$924,902$76,779$0$1,001,681
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$36,051
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
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, Section B, Line 11B

A draft of the tax return is discussed and reviewed with the organization's top management and officers of the board before a final draft is approved for submission. For 2023, due to time constraints the board did not get the chance to review and approve prior to submission. Review and approval process will be done at the following board meeting after submission.

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

Officers, directors, trustees and key employees are required to submit signed statements.

Form 990, Part VI, Section C, Line 19

Documents are available to the public upon request. Financial statements are field with local, county and state agencies.

Filing and Contact Details

Filer

Filer Name
55 Whipple St Housing Development Fund
EIN
11-3352060
Phone
7183873600
Address
434 SOUTH 5TH ST, BROOKLYN, NY 11211

Signing Officer

Name
Juan Ramos
Title
Executive Director
Phone
7183873600
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Juan Ramos
Formed
1996
Legal Domicile
Ny
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
16

Preparer

Firm
Cohnreznick Advisory LLC
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky
Phone
2122970400
Supplemental Narrative

Additional Explanations

FORM 990, PART IV, LINE 12A:

As of the date of filing the audit has not yet been completed. Form 990 has been prepared based on the best information available. Should information substantially change upon completion of the audit, appropriate action will be taken.

Financial Statement Notes

PART IV, LINE 2B:

The escrow liability amounts on form 990, part x, line 21 consist of tenant security deposits.

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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt0107520
IRS990/InsuranceGrp/TotalAmt0107520
IRS990/InterestGrp/ProgramServicesAmt092340
IRS990/InterestGrp/TotalAmt092340
IRS990/InvestmentIncomeGrp/ExclusionAmt022976
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt022976
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt05316226
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06000315
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05783915
IRS990/LandBldgEquipCostOrOtherBssAmt011100141
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt026872
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt026872
IRS990/MissionDesc0ORGANIZED TO DEVELOP, CONSTRUCT, OWN, OPERATE AND MANAGE A MULTIFAMILY RESIDENTIAL BUILDING THAT CONTAINS 51 RESIDENTIAL UNIT FOR LOW-INCOME INDIVIDUALS AND FAMILIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-1954306
IRS990/NetAssetsOrFundBalancesEOYAmt0-2310319
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1954306
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-2310319
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0136656
IRS990/OccupancyGrp/TotalAmt0136656
IRS990/OfficeExpensesGrp/ProgramServicesAmt06878
IRS990/OfficeExpensesGrp/TotalAmt06878
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt010351646
IRS990/OtherAssetsTotalGrp/EOYAmt010359682
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
IRS990/OtherExpensesGrp/ProgramServicesAmt0243587
IRS990/OtherExpensesGrp/TotalAmt0243587
IRS990/OtherLiabilitiesGrp/BOYAmt017684
IRS990/OtherLiabilitiesGrp/EOYAmt036051
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/BusinessCd1531110
IRS990/OtherRevenueMiscGrp/BusinessCd2531110
IRS990/OtherRevenueMiscGrp/Desc0BAD DEBTS RECOVERY
IRS990/OtherRevenueMiscGrp/Desc1TENANT CHARGES
IRS990/OtherRevenueMiscGrp/Desc2LAUNDRY AND VENDING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt041186
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt13473
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt22700
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt041186
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt13473
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt22700
IRS990/OtherRevenueTotalAmt074231
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt030203
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt032827
IRS990/PrincipalOfficerNm0JUAN RAMOS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0548461
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0548461
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt020244
IRS990/PYOtherExpensesAmt01029116
IRS990/PYOtherRevenueAmt024761
IRS990/PYProgramServiceRevenueAmt0535310
IRS990/PYRevenuesLessExpensesAmt0-448801
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01029116
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0580315
IRS990/ReconcilationRevenueExpnssAmt0-356013
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0622692
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05141718
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05294832
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010436550
IRS990ScheduleD/EquipmentGrp/BookValueAmt06952
IRS990ScheduleD/EquipmentGrp/DepreciationAmt021394
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028346
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0635245
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0635245
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02291998
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt166496
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt228496
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt313487
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt45360
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt57953845
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5DUE FROM AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036051
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ESCROW LIABILITY AMOUNTS ON FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05783915
IRS990ScheduleD/TotalBookValueOtherAssetsAmt010359682
IRS990ScheduleD/TotalLiabilityAmt036051
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0210778
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1166108
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt020221
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt120221
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10

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