Civic Intelligence

Catherine Sheridan Housing Development Fund Company Inc

990 • Fiscal year 2024 • EIN 11-3636256

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 08, 2025

191 Joralemon StreetBrooklyn, NY 11201

(718) 722-6150

Siviq Scores

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

Liabilities / Assets

99th percentile

1.75x

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

6.32x

Higher debt load relative to revenue than 95% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

80th percentile

27%

Higher net margin than 80% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

53rd percentile

$273,900

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

47th percentile

4.8%

Faster asset growth than 47% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

62nd percentile

14%

Faster revenue growth than 62% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$29,559,304

Up $1,344,852 (+4.8%) from 2023

Net Assets

Up

-$22,185,262

Up $2,395,264 (+9.7%) from 2023

Liabilities

Down

$51,744,566

Down $1,050,412 (-2.0%) from 2023

Revenue

Up

$8,185,961

Up $1,024,913 (+14%) from 2023

Expenses

Up

$5,961,533

Up $89,551 (+1.5%) from 2023

Net Income

Up

$2,224,428

Up $935,362 (+73%) from 2023

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2011: $11,990,495Liabilities 2011: $9,844,181Net Assets 2011: $2,146,3142011Assets 2012: $11,781,504Liabilities 2012: $9,420,272Net Assets 2012: $2,361,2322012Assets 2013: $11,670,368Liabilities 2013: $9,128,952Net Assets 2013: $2,541,4162013Assets 2014: $11,521,013Liabilities 2014: $8,981,141Net Assets 2014: $2,539,8722014Assets 2015: $11,758,643Liabilities 2015: $8,807,433Net Assets 2015: $2,951,2102015Assets 2016: $12,026,179Liabilities 2016: $8,517,664Net Assets 2016: $3,508,5152016Assets 2017: $11,700,102Liabilities 2017: $7,760,616Net Assets 2017: $3,939,4862017Assets 2018: $11,799,821Liabilities 2018: $7,603,856Net Assets 2018: $4,195,9652018Assets 2019: $14,119,222Liabilities 2019: $7,711,832Net Assets 2019: $6,407,3902019Assets 2020: $27,371,440Liabilities 2020: $54,505,136Net Assets 2020: -$27,133,6962020Assets 2021: $27,411,830Liabilities 2021: $53,509,826Net Assets 2021: -$26,097,9962021Assets 2022: $26,711,927Liabilities 2022: $52,418,489Net Assets 2022: -$25,706,5622022Assets 2023: $28,214,452Liabilities 2023: $52,794,978Net Assets 2023: -$24,580,5262023Assets 2024: $29,559,304Liabilities 2024: $51,744,566Net Assets 2024: -$22,185,2622024Assets 2025: $30,550,635Liabilities 2025: $49,512,983Net Assets 2025: -$18,962,3482025

Highlighted filing

2024

Assets$29,559,304
Liabilities$51,744,566
Net Assets-$22,185,262

Operations Trend

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

$60M$40M$20M$0-$20M-$40MRevenue 2011: $3,474,306Expenses 2011: $3,538,268Net Income 2011: -$63,9622011Revenue 2012: $3,515,970Expenses 2012: $3,301,052Net Income 2012: $214,9182012Revenue 2013: $3,676,529Expenses 2013: $3,496,345Net Income 2013: $180,1842013Revenue 2014: $3,642,742Expenses 2014: $3,644,286Net Income 2014: -$1,5442014Revenue 2015: $3,677,689Expenses 2015: $3,266,351Net Income 2015: $411,3382015Revenue 2016: $3,748,399Expenses 2016: $3,191,094Net Income 2016: $557,3052016Revenue 2017: $3,820,781Expenses 2017: $3,389,810Net Income 2017: $430,9712017Revenue 2018: $3,809,971Expenses 2018: $3,553,492Net Income 2018: $256,4792018Revenue 2019: $6,061,793Expenses 2019: $3,850,368Net Income 2019: $2,211,4252019Revenue 2020: $6,632,763Expenses 2020: $40,173,849Net Income 2020: -$33,541,0862020Revenue 2021: $6,511,670Expenses 2021: $5,475,970Net Income 2021: $1,035,7002021Revenue 2022: $6,761,532Expenses 2022: $5,693,320Net Income 2022: $1,068,2122022Revenue 2023: $7,161,048Expenses 2023: $5,871,982Net Income 2023: $1,289,0662023Revenue 2024: $8,185,961Expenses 2024: $5,961,533Net Income 2024: $2,224,4282024Revenue 2025: $9,169,094Expenses 2025: $6,256,867Net Income 2025: $2,912,2272025

Highlighted filing

2024

Revenue$8,185,961
Expenses$5,961,533
Net Income$2,224,428
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 8, 2025
Return Version
2023v6.0
Gross Receipts
$12,418,824
Mission and Program Overview

Mission

To provide safe and affordable housing to elderly and disabled persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,084,385$17,964,299▲ $6,879,914
Investments in Publicly Traded Securities$7,454,572$7,667,025▲ $212,453
Savings and Temporary Cash Investments$8,781,579$1,811,690▼ $6,969,889
Cash and Non-Interest-Bearing Accounts$4,597$1,106,061▲ $1,101,464
Prepaid Expenses and Deferred Charges$623,519$729,894▲ $106,375
Accounts Receivable$193,005$205,873▲ $12,868
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$28,214,452$29,559,304▲ $1,344,852
Other Assets Total$72,795$74,462▲ $1,667
Liabilities
Mortgage Notes Payable Secured by Investment Property$51,171,796$50,179,783▼ $992,013
Accounts Payable and Accrued Expenses$873,685$859,419▼ $14,266
Other Liabilities$743,166$689,534▼ $53,632
Deferred Revenue$6,331$15,830▲ $9,499
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$52,794,978$51,744,566▼ $1,050,412
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-24,580,526$-22,185,262▲ $2,395,264
Total Net Assets Fund Balance$-24,580,526$-22,185,262▲ $2,395,264
Total Liabilities and Net Assets / Fund Balance$28,214,452$29,559,304▲ $1,344,852

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,623,086$8,878,886$17,501,972
Other Land Buildings$8,778,613$107,264$8,885,877
Equipment$62,600$539,742$602,342
Land$500,000-$500,000
Compensation and Service Providers

Employees

NameTitleOtherTotal
Very Rev Patrick KeatingDeputy CEO$46,500$46,500
Rev Msgr Alfred P LopintoCEO$43,500$43,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,854,873
Investment Income
$313,633
Other Revenue
$17,455
Change in Net Assets
$2,224,428

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,185,961
Revenue Not Reported on Form 990
$170,836
Total Revenue per Audited Statements
$8,356,797
Total Revenue per Form 990
$8,185,961
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,961,533
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$3,714,988--$3,714,988
Depreciation Depletion$648,332--$648,332
Insurance$401,716--$401,716
Fees for Services Management$263,932--$263,932
Office Expenses$3,900$42,105-$46,005
Fees for Services Accounting-$15,200-$15,200
Fees for Services Legal-$8,790-$8,790
Other Expenses$4,395$2,920-$7,315
Total Functional Expenses$5,582,816$378,717$0$5,961,533

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,961,533
Total Expenses per Audited Statements$5,961,533
Total Expenses per Form 990$5,961,533
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Developer Fee Payable$616,271
Tenant Security Deposits$71,156
Other Liabilities$2,054
Due to Pop Management Corp.$53
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6:

Catholic charities progress of people's development corp is the sole member of catherine sheridan housing development fund company, inc.

FORM 990, PART VI, SECTION A, LINE 7A:

Catholic charities progress of people's development corp, as the sole member of the organization and pursuant to it's bylaws, has certain rights including but not limited to electing directors and filling vacant director positions.

FORM 990, PART VI, SECTION A, LINE 7B:

Catholic charities progress of people's development corp as the sole member of the organization and pursuant to the bylaws has certain rights including but not limited to: (1) amend the bylaws of the corporation, (2) change the purpose of the corporation, (3) dissolve the corporation, (4) elect directors (5) fill vacant director positions, and (6) remove directors with or without cause.

FORM 990, PART VI, SECTION B, LINE 11B:

A copy of the form 990 is made available to the board without part vii and schedule j, part ii. The board reviews the form 990 and when the board is satisfied the form 990 is approved for filing with the irs.

FORM 990, PART VI, SECTION B, LINE 12C:

Each director, principal officer and member of a committee with board delegated powers annually signs a statement that affirms that such person: (1) has received a copy of the organization's conflict of interest policy, (2) has read and understands the policy, (3) has agreed to comply with the policy and (4) understands that the organization is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt activities. If there is an actual or perceived conflict of interest, affected individuals must recuse themselves from any discussion or deliberating process.

FORM 990 PART VI, SECTION B, LINE 15:

The reporting organization has no compensation paid to the top management official or other officers of the organization. Compensation is paid by a related section 501(c)(3) organization.

FORM 990, PART VI, SECTION C, LINE 19:

Upon request, the organization will make available only those documents required to be disclosed under the public inspection laws.

Filing and Contact Details

Filer

Filer Name
Catherine Sheridan Hdfc
EIN
11-3636256
In Care Of
% JOANNA ROSELLI
Phone
7187226150
Address
191 JORALEMON STREET, BROOKLYN, NY 11201

Signing Officer

Name
Jeanne M Diulio
Title
President
Phone
7187226150
Signed
2025-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeanne M Diulio
Formed
2003
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA
Address
200 PARK AVENUE 38TH FLOOR, NEW YORK, NY 10166
Preparer
Tara Cooke
Phone
2128858000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

This process has not changed from the prior year.

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

Catherine sheridan housing development funding corp ("hdfc") is incorporated in the state of new york and is exempt from federal, state and local income taxes under section 501(c)(3) of the internal revenue code (the code), and therefore has made no provision for income taxes in the accompanying financial statements. Catherine sheridan hdfc has not taken an unsubstantiated tax position that would require provision of a liability under u.s. Gaap. Under u.s. Gaap, an organization must recognize the tax liabilities associated with the tax positions taken for tax return purposes when it is more likely than not that the position will not be sustained upon examination. Catherine sheridan hdfc does not believe there are any material uncertain tax positions and, accordingly, has not recognized any liability for unrecognized tax benefits as of june 30, 2024. Catherine sheridan hdfc has filed internal revenue service (irs) form 990 tax returns, as required, and all other applicable returns in jurisdictions where it is required. For the tax year ended june 30, 2024, there were no interest or penalties recorded or included in the accompanying financial statements.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$30.6$49.5$19.0$9.17$6.26$2.91
2024Detailed filing. Detailed filing data is available for this year.$29.6$51.7$22.2$8.19$5.96$2.22
2023Detailed filing. Detailed filing data is available for this year.$28.2$52.8$24.6$7.16$5.87$1.29
2022Detailed filing. Detailed filing data is available for this year.$26.7$52.4$25.7$6.76$5.69$1.07
2021Detailed filing. Detailed filing data is available for this year.$27.4$53.5$26.1$6.51$5.48$1.04
2020Detailed filing. Detailed filing data is available for this year.$27.4$54.5$27.1$6.63$40.2$33.5
2019Detailed filing. Detailed filing data is available for this year.$14.1$7.71$6.41$6.06$3.85$2.21
2018Detailed filing. Detailed filing data is available for this year.$11.8$7.60$4.20$3.81$3.55$0.26
2017Detailed filing. Detailed filing data is available for this year.$11.7$7.76$3.94$3.82$3.39$0.43
2016Detailed filing. Detailed filing data is available for this year.$12.0$8.52$3.51$3.75$3.19$0.56
2015Summary only. Only limited summary data is available for this year.$11.8$8.81$2.95$3.68$3.27$0.41
2014Summary only. Only limited summary data is available for this year.$11.5$8.98$2.54$3.64$3.64$0.00
2013Summary only. Only limited summary data is available for this year.$11.7$9.13$2.54$3.68$3.50$0.18
2012Summary only. Only limited summary data is available for this year.$11.8$9.42$2.36$3.52$3.30$0.21
2011Summary only. Only limited summary data is available for this year.$12.0$9.84$2.15$3.47$3.54$0.06