Civic Intelligence

Presbyterian Housing Development Fund Corporation of Queens

990 • Fiscal year 2024 • EIN 13-3171862

Sep 01, 2023 to Aug 31, 2024 • Filed on May 07, 2025

Organization ProfileN/A
1981 Marcus Avenue C-131Lake Success, NY 11040

(718) 706-7755

Siviq Scores

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

Liabilities / Assets

91st percentile

1.49x

Higher debt load relative to assets than 91% of similar nonprofits.

2024 filings • NTEE L • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

54th percentile

2.92x

Higher debt load relative to revenue than 54% of similar nonprofits.

2024 filings • NTEE L • $5M-$10M nonprofits • Source year 2024

Net Margin

51st percentile

-1.2%

Higher net margin than 51% of similar nonprofits.

2024 filings • NTEE L • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$258,487

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

2024 filings • NTEE L • $5M-$10M nonprofits • Source year 2024

Asset Growth

37th percentile

-1.8%

Faster asset growth than 37% of similar nonprofits.

2024 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

5.8%

Faster revenue growth than 56% of similar nonprofits.

2024 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$5,184,636

Down $93,754 (-1.8%) from 2023

Net Assets

Down

-$2,516,096

Down $32,742 (-1.3%) from 2023

Liabilities

Down

$7,700,732

Down $61,012 (-0.8%) from 2023

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin51st percentile

Revenue

Up

$2,640,730

Up $145,293 (+5.8%) from 2023

Expenses

Down

$2,673,472

Down $17,897 (-0.7%) from 2023

Net Income

Up

-$32,742

Up $163,190 (+83%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $4,846,494Liabilities 2011: $6,809,219Net Assets 2011: -$1,962,7252011Assets 2012: $4,452,078Liabilities 2012: $6,352,288Net Assets 2012: -$1,900,2102012Assets 2013: $4,261,163Liabilities 2013: $6,078,484Net Assets 2013: -$1,817,3212013Assets 2014: $8,536,022Liabilities 2014: $10,328,563Net Assets 2014: -$1,792,5412014Assets 2015: $8,301,315Liabilities 2015: $10,234,863Net Assets 2015: -$1,933,5482015Assets 2016: $8,192,791Liabilities 2016: $10,099,123Net Assets 2016: -$1,906,3322016Assets 2017: $6,472,983Liabilities 2017: $8,447,590Net Assets 2017: -$1,974,6072017Assets 2018: $6,335,219Liabilities 2018: $8,363,631Net Assets 2018: -$2,028,4122018Assets 2019: $6,150,702Liabilities 2019: $8,249,887Net Assets 2019: -$2,099,1852019Assets 2020: $6,053,454Liabilities 2020: $8,166,286Net Assets 2020: -$2,112,8322020Assets 2021: $5,872,803Liabilities 2021: $8,020,350Net Assets 2021: -$2,147,5472021Assets 2022: $5,590,692Liabilities 2022: $7,878,114Net Assets 2022: -$2,287,4222022Assets 2023: $5,278,390Liabilities 2023: $7,761,744Net Assets 2023: -$2,483,3542023Assets 2024: $5,184,636Liabilities 2024: $7,700,732Net Assets 2024: -$2,516,0962024Assets 2025: $4,979,011Liabilities 2025: $7,523,984Net Assets 2025: -$2,544,9732025

Highlighted filing

2024

Assets$5,184,636
Liabilities$7,700,732
Net Assets-$2,516,096
Open 2024 Filing

Operations Trend

Revenue Growth56th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,107,083Expenses 2011: $2,063,027Net Income 2011: $44,0562011Expenses 2012: $2,041,2722012Revenue 2013: $2,146,140Expenses 2013: $2,063,251Net Income 2013: $82,8892013Revenue 2014: $2,158,295Expenses 2014: $2,133,515Net Income 2014: $24,7802014Revenue 2015: $2,168,317Expenses 2015: $2,309,324Net Income 2015: -$141,0072015Revenue 2016: $2,213,835Expenses 2016: $2,186,619Net Income 2016: $27,2162016Revenue 2017: $2,242,761Expenses 2017: $2,311,036Net Income 2017: -$68,2752017Revenue 2018: $2,267,273Expenses 2018: $2,321,078Net Income 2018: -$53,8052018Revenue 2019: $2,317,390Expenses 2019: $2,388,163Net Income 2019: -$70,7732019Revenue 2020: $2,360,747Expenses 2020: $2,374,394Net Income 2020: -$13,6472020Revenue 2021: $2,385,279Expenses 2021: $2,419,994Net Income 2021: -$34,7152021Revenue 2022: $2,439,287Expenses 2022: $2,579,162Net Income 2022: -$139,8752022Revenue 2023: $2,495,437Expenses 2023: $2,691,369Net Income 2023: -$195,9322023Revenue 2024: $2,640,730Expenses 2024: $2,673,472Net Income 2024: -$32,7422024Revenue 2025: $2,748,471Expenses 2025: $2,777,348Net Income 2025: -$28,8772025

Highlighted filing

2024

Revenue$2,640,730
Expenses$2,673,472
Net Income-$32,742
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$2,640,730
Mission and Program Overview

Mission

Operating and maintaining affordable housing units for the elderly or mobility impaired in a safe and sanitary environment.

HOUSING FOR THE ELDERLY.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,784,128$2,499,145▼ $284,983
Cash and Non-Interest-Bearing Accounts$268,696$337,371▲ $68,675
Prepaid Expenses and Deferred Charges$123,834$123,834→ $0
Accounts Receivable$6,020$10,354▲ $4,334
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,278,390$5,184,636▼ $93,754
Other Assets Total$2,095,712$2,213,932▲ $118,220
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,564,485$7,416,946▼ $147,539
Accounts Payable and Accrued Expenses$146,954$232,580▲ $85,626
Other Liabilities$43,293$44,544▲ $1,251
Deferred Revenue$7,012$6,662▼ $350
Total Liabilities$7,761,744$7,700,732▼ $61,012
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,483,354$-2,516,096▼ $32,742
Total Net Assets Fund Balance$-2,483,354$-2,516,096▼ $32,742
Total Liabilities and Net Assets / Fund Balance$5,278,390$5,184,636▼ $93,754

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,363,218$8,657,553$11,020,771
Equipment$36,287$106,244$142,531
Land$99,640-$99,640
Other Assets Org$44,544--
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
James TsePresident
Celia SanchezDirector
Charline CollinsDirector
Rev Eric ToodlesDirector
Rev Jane DonnellyDirector
Rev Jeffrey CoulterDirector
Rimas JasinPss Ed
Lindsay BordenSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Allied Universal security servicesSecurity servicesPO BOX 828854, Philadelphia, PA 19182$215,303
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,618,772
Investment Income
$14,370
Other Revenue
$7,588
Change in Net Assets
$-32,742

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,640,730
Total Revenue per Audited Statements
$2,640,730
Total Revenue per Form 990
$2,640,730
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,250,407
Salaries, Compensation, and Employee Benefits$423,065
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$574,175--$574,175
Interest$418,006--$418,006
Other Salaries and Wages$275,707$73,211-$348,918
Depreciation Depletion$291,056--$291,056
Fees for Services Other$211,784$1,167-$212,951
Insurance$185,295--$185,295
Fees for Services Management-$107,814-$107,814
Other Employee Benefits$43,973$11,677-$55,650
Other Expenses$38,203$11,523-$49,726
Office Expenses-$21,344-$21,344
Fees for Services Accounting-$20,900-$20,900
Payroll Taxes$14,616$3,881-$18,497
Fees for Services Legal-$990-$990
Total Functional Expenses$2,420,965$252,507$0$2,673,472

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,673,472
Total Expenses per Audited Statements$2,673,472
Total Expenses per Form 990$2,673,472
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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Tenant security deposit$44,544
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
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 Form 990 is submitted to the board of directors. the board reviews the tax return and contacts the accounting firm with any questions they may have. once the board has reviewed and approved the form 990 is subsequently filed with the IRS.”

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

“The conflict of interest policy is reviewed on an annual basis”

Form 990, Part VI, Section C, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Presbyterian Housing Development
EIN
13-3171862
Phone
7187067755
Address
1981 Marcus Avenue C-131, Lake Success, NY 11040

Signing Officer

Name
James Tse
Title
President
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Tse
Formed
1983
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
7
Employees
3
Volunteers
8

Preparer

Firm
Ncheng Llp Certified Public Accountants
Address
40 WALL ST 32ND FL, NEW YORK, NY 10005
Preparer
Nina Bahazhevska
Phone
2127850100
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Income taxes. Presbyterian HDFC is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Presbyterian HDFC has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdictions where it operates. Presbyterian HDFC does not anticipate any significant uncertain tax positions that would require recognition in the financial statements. Periods ending August 31, 2021 and subsequent remain subject to examination by the taxing authorities.”

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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0275707
IRS990/OtherSalariesAndWagesGrp/TotalAmt0348918
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03881
IRS990/PayrollTaxesGrp/ProgramServicesAmt014616
IRS990/PayrollTaxesGrp/TotalAmt018497
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0123834
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0123834
IRS990/PrincipalOfficerNm0James Tse
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IRS990/PYOtherExpensesAmt02259651
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IRS990/PYRevenuesLessExpensesAmt0-195932
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-32742
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02626360
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01707
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02006
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03894
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt030178
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02618772
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02428693
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02379568
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02352880
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt012262968
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt014370
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt08201
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01707
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02006
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03894
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt030178
IRS990ScheduleA/InvestmentIncomeCYPct00.00250
IRS990ScheduleA/InvestmentIncomePYPct00.00170
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt07588
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt04181
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt08887
IRS990ScheduleA/OtherIncome509Grp/TotalAmt020656
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99590
IRS990ScheduleA/PublicSupportPY509Pct00.99720
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/TotalAmt012262968
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt012313802
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt08657553
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IRS990ScheduleD/EquipmentGrp/BookValueAmt036287
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0106244
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt099640
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt144544
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND ESCROW RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANTS SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant security deposit
IRS990ScheduleD/RevenueSubtotalAmt02640730
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Income taxes. Presbyterian HDFC is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Presbyterian HDFC has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdictions where it operates. Presbyterian HDFC does not anticipate any significant uncertain tax positions that would require recognition in the financial statements. Periods ending August 31, 2021 and subsequent remain subject to examination by the taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt02213932
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IRS990ScheduleD/TotalLiabilityAmt044544
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0258487
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Rimas Jasin
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PSS ED

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,184,636
Liabilities
$7,700,732
Net assets
-$2,516,096
Revenue
$2,640,730
Expenses
$2,673,472
Net income
-$32,742
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.98$7.52$2.54$2.75$2.78$0.03
2024Detailed filing. Detailed filing data is available for this year.$5.18$7.70$2.52$2.64$2.67$0.03
2023Detailed filing. Detailed filing data is available for this year.$5.28$7.76$2.48$2.50$2.69$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.59$7.88$2.29$2.44$2.58$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.87$8.02$2.15$2.39$2.42$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.05$8.17$2.11$2.36$2.37$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.15$8.25$2.10$2.32$2.39$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.34$8.36$2.03$2.27$2.32$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.47$8.45$1.97$2.24$2.31$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.19$10.1$1.91$2.21$2.19$0.03
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$8.30$10.2$1.93$2.17$2.31$0.14
2014Detailed filing. Detailed filing data is available for this year.$8.54$10.3$1.79$2.16$2.13$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$6.08$1.82$2.15$2.06$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.45$6.35$1.90$2.04
2011Summary only. Only limited summary data is available for this year.$4.85$6.81$1.96$2.11$2.06$0.04