Civic Intelligence

Haven Plaza Housing Development Fund Company Inc.

990 • Fiscal year 2020 • EIN 13-2563033

Apr 01, 2019 to Mar 31, 2020 • Filed on Aug 19, 2020

1122 Franklin Avenue Suite 406Garden City, NY 11530

(516) 248-4817

Siviq Scores

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

Liabilities / Assets

31st percentile

0.09x

Higher debt load relative to assets than 31% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

1.66x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

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

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

47th percentile

5.7%

Faster asset growth than 47% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

63rd percentile

8.2%

Faster revenue growth than 63% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Up

$26,669,411

Up $1,446,717 (+5.7%) from 2019

Net Assets

Up

$24,161,373

Up $1,448,679 (+6.4%) from 2019

Liabilities

Down

$2,508,038

Down $1,962 (-0.1%) from 2019

Revenue

Up

$1,512,029

Up $114,172 (+8.2%) from 2019

Expenses

Up

$63,350

Up $510 (+0.8%) from 2019

Net Income

Up

$1,448,679

Up $113,662 (+8.5%) from 2019

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $13,905,604Liabilities 2011: $374,921Net Assets 2011: $13,530,6832011Assets 2012: $14,814,217Liabilities 2012: $85,146Net Assets 2012: $14,729,0712012Assets 2013: $16,509,997Liabilities 2013: $756,937Net Assets 2013: $15,753,0602013Assets 2014: $19,790,343Liabilities 2014: $3,521,480Net Assets 2014: $16,268,8632014Assets 2015: $20,800,144Liabilities 2015: $3,214,399Net Assets 2015: $17,585,7452015Assets 2016: $21,421,944Liabilities 2016: $2,510,000Net Assets 2016: $18,911,9442016Assets 2017: $21,643,518Liabilities 2017: $2,596,216Net Assets 2017: $19,047,3022017Assets 2018: $22,533,964Liabilities 2018: $2,520,033Net Assets 2018: $20,013,9312018Assets 2019: $25,222,694Liabilities 2019: $2,510,000Net Assets 2019: $22,712,6942019Assets 2020: $26,669,411Liabilities 2020: $2,508,038Net Assets 2020: $24,161,3732020Assets 2021: $16,718,619Liabilities 2021: $2,508,038Net Assets 2021: $14,210,5812021Assets 2022: $17,664,998Liabilities 2022: $2,515,005Net Assets 2022: $15,149,9932022Assets 2023: $18,630,198Liabilities 2023: $2,515,005Net Assets 2023: $16,115,1932023Assets 2024: $19,637,315Liabilities 2024: $2,515,005Net Assets 2024: $17,122,3102024Assets 2025: $20,785,010Liabilities 2025: $2,515,005Net Assets 2025: $18,270,0052025

Highlighted filing

2020

Assets$26,669,411
Liabilities$2,508,038
Net Assets$24,161,373

Operations Trend

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

$20M$15M$10M$5.0M$0Revenue 2011: $15,151,880Expenses 2011: $3,328,971Net Income 2011: $11,822,9092011Revenue 2012: $1,262,891Expenses 2012: $64,503Net Income 2012: $1,198,3882012Revenue 2013: $1,263,733Expenses 2013: $239,744Net Income 2013: $1,023,9892013Revenue 2014: $978,586Expenses 2014: $462,783Net Income 2014: $515,8032014Revenue 2015: $1,389,731Expenses 2015: $72,849Net Income 2015: $1,316,8822015Revenue 2016: $1,393,582Expenses 2016: $67,383Net Income 2016: $1,326,1992016Revenue 2017: $1,261,454Expenses 2017: $1,126,096Net Income 2017: $135,3582017Revenue 2018: $1,324,131Expenses 2018: $357,502Net Income 2018: $966,6292018Revenue 2019: $1,397,857Expenses 2019: $62,840Net Income 2019: $1,335,0172019Revenue 2020: $1,512,029Expenses 2020: $63,350Net Income 2020: $1,448,6792020Revenue 2021: $1,436,978Expenses 2021: $64,806Net Income 2021: $1,372,1722021Revenue 2022: $960,173Expenses 2022: $20,761Net Income 2022: $939,4122022Revenue 2023: $1,004,841Expenses 2023: $39,641Net Income 2023: $965,2002023Revenue 2024: $1,052,873Expenses 2024: $45,756Net Income 2024: $1,007,1172024Revenue 2025: $1,298,478Expenses 2025: $150,783Net Income 2025: $1,147,6952025

Highlighted filing

2020

Revenue$1,512,029
Expenses$63,350
Net Income$1,448,679
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Aug 19, 2020
Return Version
2019v5.1
Gross Receipts
$1,512,029
Mission and Program Overview

Mission

Ground lease agreement with a low income housing project and support an organization organized under section 170 (b) (1) (a) (i) whose purpose is to assure the maintenance and development of quality affordable housing by providing services to organization-sponsored housing projects owned by non-profit housing development and finance companies, including the preservation and rehabilitation of existing affordable housing units, development of new affordable housing units on vacant or underutilized organization-owned properties.

Ground lease agreement with a low income housing project and provide support to an exempt organization whose purpose is to maintain and develop affordable housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$383,748$285,502▼ $98,246
Land, Buildings, and Equipment, Net$24,083$24,083→ $0
Prepaid Expenses and Deferred Charges$17,693$16,200▼ $1,493
Cash and Non-Interest-Bearing Accounts$74,278$-6,882▼ $81,160
Total Assets$25,222,694$26,669,411▲ $1,446,717
Other Assets Total$24,722,892$26,350,508▲ $1,627,616
Liabilities
Other Liabilities$2,500,000$2,500,000→ $0
Accounts Payable and Accrued Expenses$10,000$8,038▼ $1,962
Total Liabilities$2,510,000$2,508,038▼ $1,962
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$22,712,694$24,161,373▲ $1,448,679
Total Net Assets Fund Balance$22,712,694$24,161,373▲ $1,448,679
Total Liabilities and Net Assets / Fund Balance$25,222,694$26,669,411▲ $1,446,717

Asset Categories

AssetBook ValueDepreciationBasis
Land$24,083-$24,083
Other Assets Org$2,500,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Monsignor Kevin NelanPresident/director
Mr John MatcovichDirector
Mr Harold J BlakeDirector/ Assistant Secretary
Mr George B HortonSecretary/ Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$194,000
Investment Income
$1,318,029
Other Revenue
$0
Change in Net Assets
$1,448,679
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,350
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
Fees for Services Legal$40,000--$40,000
Fees for Services Accounting$14,258--$14,258
Insurance$8,258--$8,258
Other Expenses-$834-$834
Total Functional Expenses$62,516$834$0$63,350
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
Reserve Against Guaranty Obligation$2,500,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization delegated control over management duties customarily performed by or under the direct supervision of officers, directors, or trustees, or key employeee to a management company.

Form 990, Part VI, Section B, Line 11B

A tentative draft of the form 990 (before it is finalized and sent to irs), is sent to the organization's legal counsel, who reviews and discusses the return with the governing body. Any suggested changes or comments and questions are then discussed with the cpa by a conference call.

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

Each officer, director or trustee is required to disclose annually interests that could give rise to conflicts in a board meeting. If an item of conflict comes to surface, the board discusses and votes on it before awarding any contracts.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available to public upon request. The copies of these documents are kept at the managing agent's office and once requested, the agent will mail such copies by regular mail.

FORM 990, PART VIII, LINE 3:

Investment income consist of: (1) interest income on notes receivable - $1,272,155; (2) interest income on notes receivable (anych)- $44,120; and (3) interest income from money market - $1,754

Filing and Contact Details

Filer

Filer Name
Haven Plaza Hdfc Inc
EIN
13-2563033
Phone
5162484817
Address
1122 FRANKLIN AVENUE SUITE 406, GARDEN CITY, NY 11530

Signing Officer

Name
Msgr Kevin Nelan
Title
President
Phone
5162484817
Signed
2020-08-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Msgr Kevin Nelan
Formed
1969
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Berdon Llp
Address
360 MADISON AVENUE, NEW YORK, NY 10017
Preparer
Marco Svagna
Phone
2128320400
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

Management and board of directors is responsible for oversight of the compiled financial statements and selection of an independent accountant.

Raw XML Appendix353 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/OtherAssetsOrgGrp/Desc0NOTE RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM HAVEN PLAZA SQUARE LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3GROUND LEASE RENT RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4OTHER RESERVES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02500000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESERVE AGAINST GUARANTY OBLIGATION
IRS990ScheduleD/TotalBookValueLandBuildingsAmt024083
IRS990ScheduleD/TotalBookValueOtherAssetsAmt026350508
IRS990ScheduleD/TotalLiabilityAmt02500000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS, DIRECTORS, OR TRUSTEES, OR KEY EMPLOYEEE TO A MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A TENTATIVE DRAFT OF THE FORM 990 (BEFORE IT IS FINALIZED AND SENT TO IRS), IS SENT TO THE ORGANIZATION'S LEGAL COUNSEL, WHO REVIEWS AND DISCUSSES THE RETURN WITH THE GOVERNING BODY. ANY SUGGESTED CHANGES OR COMMENTS AND QUESTIONS ARE THEN DISCUSSED WITH THE CPA BY A CONFERENCE CALL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH OFFICER, DIRECTOR OR TRUSTEE IS REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS IN A BOARD MEETING. IF AN ITEM OF CONFLICT COMES TO SURFACE, THE BOARD DISCUSSES AND VOTES ON IT BEFORE AWARDING ANY CONTRACTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO PUBLIC UPON REQUEST. THE COPIES OF THESE DOCUMENTS ARE KEPT AT THE MANAGING AGENT'S OFFICE AND ONCE REQUESTED, THE AGENT WILL MAIL SUCH COPIES BY REGULAR MAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INVESTMENT INCOME CONSIST OF: (1) INTEREST INCOME ON NOTES RECEIVABLE - $1,272,155; (2) INTEREST INCOME ON NOTES RECEIVABLE (ANYCH)- $44,120; AND (3) INTEREST INCOME FROM MONEY MARKET - $1,754
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANAGEMENT AND BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE COMPILED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VIII, LINE 3:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt025222694
IRS990/TotalAssetsEOYAmt026669411
IRS990/TotalAssetsGrp/BOYAmt025222694
IRS990/TotalAssetsGrp/EOYAmt026669411
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0834
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt062516
IRS990/TotalFunctionalExpensesGrp/TotalAmt063350
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02510000
IRS990/TotalLiabilitiesEOYAmt02508038
IRS990/TotalLiabilitiesGrp/BOYAmt02510000
IRS990/TotalLiabilitiesGrp/EOYAmt02508038
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt022712694
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt024161373
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt062516
IRS990/TotalProgramServiceRevenueAmt0194000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01512029
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01512029
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025222694
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt026669411
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01122 FRANKLIN AVENUE SUITE 406
IRS990/USAddress/CityNm0GARDEN CITY
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011530
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MSGR KEVIN NELAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05162484817
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HAVEN PLAZA HDFC INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O MICHAEL J COMERFORD ESQ
ReturnHeader/Filer/BusinessNameControlTxt0HAVE
ReturnHeader/Filer/EIN0132563033
ReturnHeader/Filer/PhoneNum05162484817
ReturnHeader/Filer/USAddress/AddressLine1Txt01122 FRANKLIN AVENUE SUITE 406
ReturnHeader/Filer/USAddress/CityNm0GARDEN CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011530
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId082439282CC8ECD7994707A0112ECB74666350CF9
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.125.164.18
ReturnHeader/FilingSecurityInformation/IPDt02020-08-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm013:01:22
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0130485070
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERDON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0360 MADISON AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010017
ReturnHeader/PreparerPersonGrp/PhoneNum02128320400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARCO SVAGNA
ReturnHeader/ReturnTs02020-08-19T15:20:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-04-01
ReturnHeader/TaxPeriodEndDt02020-03-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$2.52$18.3$1.30$0.15$1.15
2024Detailed filing. Detailed filing data is available for this year.$19.6$2.52$17.1$1.05$0.05$1.01
2023Detailed filing. Detailed filing data is available for this year.$18.6$2.52$16.1$1.00$0.04$0.97
2022Detailed filing. Detailed filing data is available for this year.$17.7$2.52$15.1$0.96$0.02$0.94
2021Detailed filing. Detailed filing data is available for this year.$16.7$2.51$14.2$1.44$0.06$1.37
2020Detailed filing. Detailed filing data is available for this year.$26.7$2.51$24.2$1.51$0.06$1.45
2019Summary only. Only limited summary data is available for this year.$25.2$2.51$22.7$1.40$0.06$1.34
2018Summary only. Only limited summary data is available for this year.$22.5$2.52$20.0$1.32$0.36$0.97
2017Summary only. Only limited summary data is available for this year.$21.6$2.60$19.0$1.26$1.13$0.14
2016Summary only. Only limited summary data is available for this year.$21.4$2.51$18.9$1.39$0.07$1.33
2015Summary only. Only limited summary data is available for this year.$20.8$3.21$17.6$1.39$0.07$1.32
2014Summary only. Only limited summary data is available for this year.$19.8$3.52$16.3$0.98$0.46$0.52
2013Summary only. Only limited summary data is available for this year.$16.5$0.76$15.8$1.26$0.24$1.02
2012Summary only. Only limited summary data is available for this year.$14.8$0.09$14.7$1.26$0.06$1.20
2011Summary only. Only limited summary data is available for this year.$13.9$0.37$13.5$15.2$3.33$11.8