Civic Intelligence

Canaan Housing Development Fund Corporation

EIN 13-3091591 • 501(c)3 • New York, NY

Profile

Developed an 89-unit apartment complex for low income individuals/housing for the elderly.

160 West 116th StreetNew York, NY 10026

n/A

Siviq Scores

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

Liabilities / Assets

97th percentile

1.78x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

2.88x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

71st percentile

13%

Faster asset growth than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

4.5%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,087,503

Up $477,624 (+13%) from 2023

Liabilities

Up

$7,284,549

Up $48,093 (+0.7%) from 2023

Net Assets

Up

-$3,197,046

Up $429,531 (+12%) from 2023

Revenue

Up

$2,531,562

Up $109,716 (+4.5%) from 2023

Expenses

Up

$2,102,031

Up $82,600 (+4.1%) from 2023

Net Income

Up

$429,531

Up $27,116 (+6.7%) from 2023

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $1,621,629Liabilities 2011: $5,311,036Net Assets 2011: -$3,689,4072011Assets 2012: $1,571,313Liabilities 2012: $5,250,070Net Assets 2012: -$3,678,7572012Assets 2013: $1,579,590Liabilities 2013: $5,326,343Net Assets 2013: -$3,746,7532013Assets 2014: $1,483,163Liabilities 2014: $5,418,972Net Assets 2014: -$3,935,8092014Assets 2015: $1,335,886Liabilities 2015: $5,407,913Net Assets 2015: -$4,072,0272015Assets 2016: $1,087,296Liabilities 2016: $5,370,604Net Assets 2016: -$4,283,3082016Assets 2017: $3,061,384Liabilities 2017: $7,324,702Net Assets 2017: -$4,263,3182017Assets 2018: $3,376,201Liabilities 2018: $7,509,402Net Assets 2018: -$4,133,2012018Assets 2019: $3,655,650Liabilities 2019: $7,586,342Net Assets 2019: -$3,930,6922019Assets 2020: $3,261,161Liabilities 2020: $7,298,285Net Assets 2020: -$4,037,1242020Assets 2021: $3,673,579Liabilities 2021: $7,727,543Net Assets 2021: -$4,053,9642021Assets 2022: $2,924,178Liabilities 2022: $6,953,170Net Assets 2022: -$4,028,9922022Assets 2023: $3,609,879Liabilities 2023: $7,236,456Net Assets 2023: -$3,626,5772023Assets 2024: $4,087,503Liabilities 2024: $7,284,549Net Assets 2024: -$3,197,0462024

Highlighted filing

2024

Assets$4,087,503
Liabilities$7,284,549
Net Assets-$3,197,046

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,507,0792011Expenses 2012: $1,580,1972012Revenue 2013: $1,585,439Expenses 2013: $1,653,435Net Income 2013: -$67,9962013Revenue 2014: $1,561,493Expenses 2014: $1,750,549Net Income 2014: -$189,0562014Revenue 2015: $1,589,200Expenses 2015: $1,725,418Net Income 2015: -$136,2182015Revenue 2016: $1,591,244Expenses 2016: $1,802,525Net Income 2016: -$211,2812016Revenue 2017: $1,780,651Expenses 2017: $1,760,661Net Income 2017: $19,9902017Revenue 2018: $1,829,314Expenses 2018: $1,699,197Net Income 2018: $130,1172018Revenue 2019: $1,848,009Expenses 2019: $1,645,500Net Income 2019: $202,5092019Revenue 2020: $1,727,007Expenses 2020: $1,833,439Net Income 2020: -$106,4322020Revenue 2021: $1,748,676Expenses 2021: $1,765,516Net Income 2021: -$16,8402021Revenue 2022: $2,002,946Expenses 2022: $1,977,974Net Income 2022: $24,9722022Revenue 2023: $2,421,846Expenses 2023: $2,019,431Net Income 2023: $402,4152023Revenue 2024: $2,531,562Expenses 2024: $2,102,031Net Income 2024: $429,5312024

Highlighted filing

2024

Revenue$2,531,562
Expenses$2,102,031
Net Income$429,531

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.09$7.28$3.20$2.53$2.10$0.43
2023Detailed filing. Detailed filing data is available for this year.$3.61$7.24$3.63$2.42$2.02$0.40
2022Detailed filing. Detailed filing data is available for this year.$2.92$6.95$4.03$2.00$1.98$0.02
2021Detailed filing. Detailed filing data is available for this year.$3.67$7.73$4.05$1.75$1.77$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$7.30$4.04$1.73$1.83$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.66$7.59$3.93$1.85$1.65$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.38$7.51$4.13$1.83$1.70$0.13
2017Detailed filing. Detailed filing data is available for this year.$3.06$7.32$4.26$1.78$1.76$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.09$5.37$4.28$1.59$1.80$0.21
2015Detailed filing. Detailed filing data is available for this year.$1.34$5.41$4.07$1.59$1.73$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.48$5.42$3.94$1.56$1.75$0.19
2013Detailed filing. Detailed filing data is available for this year.$1.58$5.33$3.75$1.59$1.65$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$5.25$3.68$1.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$5.31$3.69$1.51
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 9, 2025
Return Version
2024v5.2
Gross Receipts
$2,531,562
Mission and Program Overview

Mission

Developed an 89-unit apartment complex for low income individuals/housing for the elderly.

Operate apartment building for seniors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,071,594$2,104,985▲ $33,391
Cash and Non-Interest-Bearing Accounts$162,044$358,802▲ $196,758
Intangible Assets$277,412$266,562▼ $10,850
Prepaid Expenses and Deferred Charges$171,461$179,964▲ $8,503
Accounts Receivable$99,110$41,305▼ $57,805
Total Assets$3,609,879$4,087,503▲ $477,624
Other Assets Total$828,258$1,135,885▲ $307,627
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,842,370$6,708,237▼ $134,133
Accounts Payable and Accrued Expenses$360,506$537,043▲ $176,537
Other Liabilities$30,243$33,324▲ $3,081
Deferred Revenue$3,337$5,945▲ $2,608
Total Liabilities$7,236,456$7,284,549▲ $48,093
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,626,577$-3,197,046▲ $429,531
Total Net Assets Fund Balance$-3,626,577$-3,197,046▲ $429,531
Total Liabilities and Net Assets / Fund Balance$3,609,879$4,087,503▲ $477,624

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,024,957$5,364,882$7,389,839
Equipment$35,528$284,423$319,951
Land$44,500-$44,500
Other Assets Org$505--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Thomas D Johnson SrChairperson
Shirley ClaibornePresident
Rachel BrownVice President
Dakota PippinsBoard Member
Dorothea Caldwell-brownBoard Member
Lorraine SmallsBoard Member
Tracey Cole-hagansSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Uss Services INCSecurity1407 B EAST 180TH STREET, Bronx, NY 10460$209,099
Revenue and Support

Revenue Composition

Contributions and Grants
$17,367
Program Service Revenue
$2,494,069
Investment Income
$20,126
Other Revenue
$0
Change in Net Assets
$429,531

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,531,562
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,531,562
Total Revenue per Form 990
$2,531,562
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,643,361
Salaries, Compensation, and Employee Benefits$458,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$625,713--$625,713
Other Salaries and Wages$313,913--$313,913
Interest$254,429--$254,429
Other Employee Benefits$124,885--$124,885
Insurance$107,415--$107,415
Depreciation Depletion$87,202--$87,202
Fees for Services Management-$61,944-$61,944
Other Expenses$45,137$35,826-$35,826
Office Expenses$24,352--$24,352
Payroll Taxes$19,872--$19,872
Fees for Services Accounting-$19,220-$19,220
Fees for Services Legal-$1,421-$1,421
All Other Expenses$919--$919
Total Functional Expenses$1,983,620$118,411$0$2,102,031

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,102,031
Total Expenses per Audited Statements$2,102,031
Total Expenses per Form 990$2,102,031
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Tenant Security Deposits Payable$33,324
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 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
Yes
Other officer compensation reviewed
Yes
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

Form is reviewed by the board. At least five days is given for feedback before e-filing.

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

Directors and officers are issued a copy of the conflict of interest policy upon appointment. Annual declarations are submitted to determine if any conflicts exist.

Form 990, Part VI, Section B, Line 15

Directors and officers are not paid.

Form 990, Part VI, Section C, Line 19

Documents are available upon request to any board member.

Filing and Contact Details

Filer

Filer Name
Canaan Housing Dev Fund Corp
EIN
13-3091591
Phone
2122225445
Address
160 WEST 116TH STREET, NEW YORK, NY 10026

Signing Officer

Name
Thomas Johnson
Title
Chairperson
Phone
2122225445
Signed
2025-09-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Johnson
Formed
1981
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
0

Preparer

Firm
Carter & Company Cpas LLC
Address
PO BOX 279, DESTIN, FL 32540
Preparer
Samuel T Boerma
Phone
8506500125
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

There was no change in oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

The corporation has received notification that it qualifies as a tax-exempt organization under section 501(c)(3) of the u.s. Internal revenue code. However, income from certain activities not directly related to the corporation's tax-exempt purpose can be subject to taxation as unrelated business income. There was no unrelated income for the year ended december 31, 2024. Therefore, no provision for income taxes is included in the financial statements. The corporation follows accounting for uncertainty in income taxes (fasb accounting standards codification (asc) 740, income taxes). It requires that a tax position be recognized or derecognized based on a 'more-likely-than-not' threshold. This applies to positions taken or expected to be taken in a tax return. The corporation does not believe its financial statements include any uncertain tax positions and that no income taxes are due for its activities.

Raw XML AppendixShowing 400 of 492 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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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0124885
IRS990/OtherExpensesGrp/Desc0SECURITY CONTRACT
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2RESIDENT AND SOCIAL SER
IRS990/OtherExpensesGrp/Desc3MISC. ADMINISTRATIVE
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IRS990/QuidProQuoContributionsInd00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01636572
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt020126
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt08648
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01351
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0408
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0585
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt031118
IRS990ScheduleA/InvestmentIncomeCYPct00.00300
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt04980
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02181
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt03174
IRS990ScheduleA/OtherIncome509Grp/TotalAmt010335
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/TotalAmt010380654
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01743846
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4UTILITY DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS PAYABLE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS RECEIVED NOTIFICATION THAT IT QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE CORPORATION'S TAX-EXEMPT PURPOSE CAN BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED INCOME FOR THE YEAR ENDED DECEMBER 31, 2024. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE CORPORATION FOLLOWS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES). IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CORPORATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt02102031
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM IS REVIEWED BY THE BOARD. AT LEAST FIVE DAYS IS GIVEN FOR FEEDBACK BEFORE E-FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS AND OFFICERS ARE ISSUED A COPY OF THE CONFLICT OF INTEREST POLICY UPON APPOINTMENT. ANNUAL DECLARATIONS ARE SUBMITTED TO DETERMINE IF ANY CONFLICTS EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS AND OFFICERS ARE NOT PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST TO ANY BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE WAS NO CHANGE IN OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CANAAN BAPTIST HOUSING DEVELOPMENT FUND CORPORATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SENIOR HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00

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