Civic Intelligence

Mhany 1999 II Housing Development Fund Corporation

990 • Fiscal year 2015 • EIN 11-3517199

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 12, 2015

Organization ProfileN/A
One Metro Tech North 11th FloorBrooklyn, NY 11201

(718) 246-8080

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.49x

Higher debt load relative to assets than 32% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

63rd percentile

4.87x

Higher debt load relative to revenue than 63% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

Net Margin

31st percentile

-2.9%

Higher net margin than 31% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

Asset Growth

58th percentile

1.1%

Faster asset growth than 58% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

70th percentile

10%

Faster revenue growth than 70% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$12,114,194

Up $136,878 (+1.1%) from 2014

Net Assets

Down

$6,131,723

Down $35,455 (-0.6%) from 2014

Liabilities

Up

$5,982,471

Up $172,333 (+3.0%) from 2014

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin31st percentile

Revenue

Up

$1,228,290

Up $114,673 (+10%) from 2014

Expenses

Down

$1,263,745

Down $79,947 (-5.9%) from 2014

Net Income

Up

-$35,455

Up $194,620 (+85%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$15M$10M$5.0M$0Assets 2011: $6,510,186Liabilities 2011: $71,745Net Assets 2011: $6,438,4412011Assets 2012: $11,799,903Liabilities 2012: $5,284,500Net Assets 2012: $6,515,4032012Assets 2013: $12,001,190Liabilities 2013: $5,603,937Net Assets 2013: $6,397,2532013Assets 2014: $11,977,316Liabilities 2014: $5,810,138Net Assets 2014: $6,167,1782014Assets 2015: $12,114,194Liabilities 2015: $5,982,471Net Assets 2015: $6,131,7232015Assets 2016: $11,644,785Liabilities 2016: $4,992,869Net Assets 2016: $6,651,9162016Assets 2017: $11,706,692Liabilities 2017: $4,845,475Net Assets 2017: $6,861,2172017Assets 2018: $11,807,709Liabilities 2018: $4,804,744Net Assets 2018: $7,002,9652018Assets 2019: $11,995,563Liabilities 2019: $4,740,317Net Assets 2019: $7,255,2462019Assets 2020: $12,351,249Liabilities 2020: $4,763,246Net Assets 2020: $7,588,0032020Assets 2021: $12,513,513Liabilities 2021: $4,666,291Net Assets 2021: $7,847,2222021Assets 2022: $12,823,851Liabilities 2022: $4,735,229Net Assets 2022: $8,088,6222022Assets 2023: $11,870,736Liabilities 2023: $3,337,394Net Assets 2023: $8,533,3422023Assets 2024: $12,123,068Liabilities 2024: $3,123,889Net Assets 2024: $8,999,1792024

Highlighted filing

2015

Assets$12,114,194
Liabilities$5,982,471
Net Assets$6,131,723
Open 2015 Filing

Operations Trend

Revenue Growth70th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $975,2022011Expenses 2012: $1,081,8562012Revenue 2013: $1,148,102Expenses 2013: $1,266,252Net Income 2013: -$118,1502013Revenue 2014: $1,113,617Expenses 2014: $1,343,692Net Income 2014: -$230,0752014Revenue 2015: $1,228,290Expenses 2015: $1,263,745Net Income 2015: -$35,4552015Revenue 2016: $1,855,303Expenses 2016: $1,335,110Net Income 2016: $520,1932016Revenue 2017: $1,645,837Expenses 2017: $1,436,536Net Income 2017: $209,3012017Revenue 2018: $1,627,073Expenses 2018: $1,485,325Net Income 2018: $141,7482018Revenue 2019: $1,713,898Expenses 2019: $1,461,617Net Income 2019: $252,2812019Revenue 2020: $1,835,652Expenses 2020: $1,650,703Net Income 2020: $184,9492020Revenue 2021: $1,960,182Expenses 2021: $1,700,963Net Income 2021: $259,2192021Revenue 2022: $1,995,503Expenses 2022: $1,754,103Net Income 2022: $241,4002022Revenue 2023: $2,064,446Expenses 2023: $1,619,726Net Income 2023: $444,7202023Revenue 2024: $2,271,173Expenses 2024: $1,805,336Net Income 2024: $465,8372024

Highlighted filing

2015

Revenue$1,228,290
Expenses$1,263,745
Net Income-$35,455
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 12, 2015
Return Version
2014v5.0
Gross Receipts
$1,228,290
Mission and Program Overview

Mission

Develop, on a non-profit basis, a housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,419,653$11,115,708▲ $696,055
Cash and Non-Interest-Bearing Accounts$184,246$228,039▲ $43,793
Intangible Assets$111,285$96,808▼ $14,477
Prepaid Expenses and Deferred Charges$59,102$63,467▲ $4,365
Accounts Receivable$31,699$31,826▲ $127
Total Assets$11,977,316$12,114,194▲ $136,878
Other Assets Total$1,171,331$578,346▼ $592,985
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,580,659$4,930,157▲ $349,498
Other Liabilities$725,693$671,894▼ $53,799
Accounts Payable and Accrued Expenses$494,659$368,969▼ $125,690
Deferred Revenue$9,127$11,451▲ $2,324
Total Liabilities$5,810,138$5,982,471▲ $172,333
Net Assets / Fund Balance
Unrestricted Net Assets$6,167,178$6,131,723▼ $35,455
Total Net Assets Fund Balance$6,167,178$6,131,723▼ $35,455
Total Liabilities and Net Assets / Fund Balance$11,977,316$12,114,194▲ $136,878

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,004,269$3,253,018$14,257,287
Other Land Buildings$111,439$93,181$204,620
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Dorothy AmadiPresident
Natalie BrownSecretary
Julia BoydTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Galaxy Gc Group LLCBuilding Construction529 LONGFELLOW AVE, Bronx, NY 10474$1,930,977
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,193,782
Investment Income
$0
Other Revenue
$34,508
Change in Net Assets
$-35,455

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,228,290
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,108
Total Revenue per Audited Statements
$1,229,398
Total Revenue per Form 990
$1,228,290
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,160,501
Salaries, Compensation, and Employee Benefits$103,244
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$362,610--$362,610
Interest$158,436--$158,436
All Other Expenses$105,202$619-$105,821
Other Salaries and Wages$85,693$17,551-$103,244
Fees for Services Management$78,855$16,151-$95,006
Other Expenses$51,168--$51,168
Insurance$41,930--$41,930
Fees for Services Accounting$5,395$1,105-$6,500
Fees for Services Legal$4,364--$4,364
Office Expenses$1,116$229-$1,345
Total Functional Expenses$1,228,090$35,655$0$1,263,745

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,264,853
Expenses per Audited Statements$1,263,745
Total Expenses per Form 990$1,263,745
Expenses Not Reported on Form 990$1,108
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans to Affiliates$640,038
Tenant Security Deposits$31,856
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“Organization does not have committees.”

Form 990, Part VI, Section B, Line 11

“Form 990 will be completed annually and copies will be provided to the entire governing board as well as the president of the organization. At that time the president will review the form 990 with the designated board members. Any necessary changes will then be updated on form. Once all necessary changes are made and the president is in agreement with designated board members on the finished form 990, it will be signed by the president, dated and submitted by the filing deadline. A copy of the approved form 990 will be provided to all of the officers, directors and trustees before the return is filed.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Form 990, Part VII

“Dorothy amadi - 784 belmont avenue, apt. 2, brooklyn, ny 11208. Julia boyd - 869 eastern parkway, apt. 1b, brooklyn, ny 11213. Natalie brown - 869 eastern parkway, , brooklyn, ny 11213.”

Filing and Contact Details

Filer

Filer Name
Mhany 1999 Ii Housing Development Fund Corporation
EIN
11-3517199
Phone
7182468080
Address
ONE METRO TECH NORTH 11TH FLOOR, BROOKLYN, NY 11201

Signing Officer

Name
Ismene Speliotis
Title
Director
Phone
7182468080
Signed
2015-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ismene Speliotis
Formed
1999
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Fruchter Rosen & Company Pc
Address
156 WEST 56TH STREET STE 1804, NEW YORK, NY 10019
Preparer
Eric Rosen
Phone
2129573600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Mhany 1999 ii's accounting policy provides that a tax expense or benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Mhany 1999 ii has no uncertain tax positions resulting in an accrual of tax expense or benefit.”

Raw XML AppendixShowing 400 of 411 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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IRS990ScheduleD/DonatedServicesUseFcltsAmt01108
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031856
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOANS TO AFFILIATES
IRS990ScheduleD/RevenueNotReportedAmt01108
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01228290
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MHANY 1999 II'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. MHANY 1999 II HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01263745
IRS990ScheduleD/TotalLiabilityAmt0671894
IRS990ScheduleD/TotalRevenuePerForm990Amt01228290
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01264853
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION DOES NOT HAVE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD AS WELL AS THE PRESIDENT OF THE ORGANIZATION. AT THAT TIME THE PRESIDENT WILL REVIEW THE FORM 990 WITH THE DESIGNATED BOARD MEMBERS. ANY NECESSARY CHANGES WILL THEN BE UPDATED ON FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE PRESIDENT IS IN AGREEMENT WITH DESIGNATED BOARD MEMBERS ON THE FINISHED FORM 990, IT WILL BE SIGNED BY THE PRESIDENT, DATED AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE OFFICERS, DIRECTORS AND TRUSTEES BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOROTHY AMADI - 784 BELMONT AVENUE, APT. 2, BROOKLYN, NY 11208. JULIA BOYD - 869 EASTERN PARKWAY, APT. 1B, BROOKLYN, NY 11213. NATALIE BROWN - 869 EASTERN PARKWAY, , BROOKLYN, NY 11213.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MHANY MANAGEMENT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0721303737
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVISION TO RELIEF TO THE POOR, DISTRESSED AND UNDERPRIVILEGED. PROMOTION O
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt051913
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1103244
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2640038
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt395006
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MHANY MANAGEMENT INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MHANY MANAGEMENT INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2MHANY MANAGEMENT INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3MHANY MANAGEMENT INC
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
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IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd011201
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ISMENE SPELIOTIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07182468080
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MHANY 1999 II HOUSING DEVELOPMENT FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MHAN
ReturnHeader/Filer/EIN0113517199
ReturnHeader/Filer/PhoneNum07182468080
ReturnHeader/Filer/USAddress/AddressLine1Txt0ONE METRO TECH NORTH 11TH FLOOR
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061671819
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FRUCHTER ROSEN & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0156 WEST 56TH STREET STE 1804

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,114,194
Liabilities
$5,982,471
Net assets
$6,131,723
Revenue
$1,228,290
Expenses
$1,263,745
Net income
-$35,455
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.1$3.12$9.00$2.27$1.81$0.47
2023Detailed filing. Detailed filing data is available for this year.$11.9$3.34$8.53$2.06$1.62$0.44
2022Detailed filing. Detailed filing data is available for this year.$12.8$4.74$8.09$2.00$1.75$0.24
2021Detailed filing. Detailed filing data is available for this year.$12.5$4.67$7.85$1.96$1.70$0.26
2020Detailed filing. Detailed filing data is available for this year.$12.4$4.76$7.59$1.84$1.65$0.18
2019Detailed filing. Detailed filing data is available for this year.$12.0$4.74$7.26$1.71$1.46$0.25
2018Detailed filing. Detailed filing data is available for this year.$11.8$4.80$7.00$1.63$1.49$0.14
2017Detailed filing. Detailed filing data is available for this year.$11.7$4.85$6.86$1.65$1.44$0.21
2016Detailed filing. Detailed filing data is available for this year.$11.6$4.99$6.65$1.86$1.34$0.52
2015Detailed filing. Detailed filing data is available for this year.$12.1$5.98$6.13$1.23$1.26$0.04
2014Detailed filing. Detailed filing data is available for this year.$12.0$5.81$6.17$1.11$1.34$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$5.60$6.40$1.15$1.27$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$5.28$6.52$1.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.51$0.07$6.44$0.98