Civic Intelligence

Metro North Gardens Housing

EIN 13-3189285 • 501(c)3 • Bronx, NY

Profile

Metro north gardens housing development fund corporation (the "project"), a 48 unit apartment project located in new york, new york, was formed as a c corporation in september 1983 to provide housing for low income of the national housing act and regulated by the u.s. Department of housing and urban development ("hud") with respect to rental charges and operating methods. The project is subject to section 8 housing assistance payments agreements with hud, and a significant portion of the project's rental income is received from hud, as its only major program.

C/O Foxy Mgmt / 500 Trinity AvenueBronx, NY 10455
Siviq Scores

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

Liabilities / Assets

62nd percentile

0.95x

Higher debt load relative to assets than 62% of similar nonprofits.

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

Liabilities / Revenue

71st percentile

5.53x

Higher debt load relative to revenue than 71% of similar nonprofits.

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

Net Margin

32nd percentile

-11%

Higher net margin than 32% of similar nonprofits.

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

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

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

Asset Growth

24th percentile

-3.2%

Faster asset growth than 24% of similar nonprofits.

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

Revenue Growth

62nd percentile

7.5%

Faster revenue growth than 62% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$6,653,926

Down $218,336 (-3.2%) from 2023

Liabilities

Down

$6,295,299

Down $65,520 (-1.0%) from 2023

Net Assets

Down

$358,627

Down $152,816 (-30%) from 2023

Operations
Liabilities / Revenue71st percentileNet Margin32nd percentile

Revenue

Up

$1,137,385

Up $79,433 (+7.5%) from 2023

Expenses

Up

$1,266,597

Up $206,468 (+19%) from 2023

Net Income

Down

-$129,212

Down $127,035 (-5835%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2018: $7,141,900Liabilities 2018: $6,674,695Net Assets 2018: $467,2052018Assets 2019: $7,154,279Liabilities 2019: $6,607,483Net Assets 2019: $546,7962019Assets 2020: $7,273,810Liabilities 2020: $6,616,936Net Assets 2020: $656,8742020Assets 2021: $7,262,446Liabilities 2021: $6,507,831Net Assets 2021: $754,6152021Assets 2022: $6,973,216Liabilities 2022: $6,459,596Net Assets 2022: $513,6202022Assets 2023: $6,872,262Liabilities 2023: $6,360,819Net Assets 2023: $511,4432023Assets 2024: $6,653,926Liabilities 2024: $6,295,299Net Assets 2024: $358,6272024

Highlighted filing

2024

Assets$6,653,926
Liabilities$6,295,299
Net Assets$358,627
Open 2024 Filing

Operations Trend

Revenue Growth62nd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $918,499Expenses 2018: $847,777Net Income 2018: $70,7222018Revenue 2019: $971,111Expenses 2019: $891,520Net Income 2019: $79,5912019Revenue 2020: $996,374Expenses 2020: $886,296Net Income 2020: $110,0782020Revenue 2021: $969,788Expenses 2021: $872,047Net Income 2021: $97,7412021Revenue 2022: $963,980Expenses 2022: $1,204,975Net Income 2022: -$240,9952022Revenue 2023: $1,057,952Expenses 2023: $1,060,129Net Income 2023: -$2,1772023Revenue 2024: $1,137,385Expenses 2024: $1,266,597Net Income 2024: -$129,2122024

Highlighted filing

2024

Revenue$1,137,385
Expenses$1,266,597
Net Income-$129,212
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$6,653,926
Liabilities
$6,295,299
Net assets
$358,627
Revenue
$1,137,385
Expenses
$1,266,597
Net income
-$129,212
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.65$6.30$0.36$1.14$1.27$0.13
2023Detailed filing. Detailed filing data is available for this year.$6.87$6.36$0.51$1.06$1.06$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.97$6.46$0.51$0.96$1.20$0.24
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.26$6.51$0.75$0.97$0.87$0.10
2020Detailed filing. Detailed filing data is available for this year.$7.27$6.62$0.66$1.00$0.89$0.11
2019Detailed filing. Detailed filing data is available for this year.$7.15$6.61$0.55$0.97$0.89$0.08
2018Summary only. Only limited summary data is available for this year.$7.14$6.67$0.47$0.92$0.85$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 13, 2025
Return Version
2023v6.0
Gross Receipts
$1,137,385
Mission and Program Overview

Mission

Metro north gardens housing development fund corporation (the "project"), a 48 unit apartment project located in new york, new york, was formed as a c corporation in september 1983 to provide housing for low income of the national housing act and regulated by the u.s. Department of housing and urban development ("hud") with respect to rental charges and operating methods. The project is subject to section 8 housing assistance payments agreements with hud, and a significant portion of the project's rental income is received from hud, as its only major program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,411,703$5,198,927▼ $212,776
Intangible Assets$295,838$284,083▼ $11,755
Cash and Non-Interest-Bearing Accounts$121,128$130,740▲ $9,612
Prepaid Expenses and Deferred Charges$106,041$88,315▼ $17,726
Accounts Receivable$88,917$48,895▼ $40,022
Total Assets$6,848,658$6,653,926▼ $194,732
Other Assets Total$825,031$902,966▲ $77,935
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,055,143$5,960,131▼ $95,012
Other Liabilities$247,984$270,410▲ $22,426
Accounts Payable and Accrued Expenses$57,692$64,758▲ $7,066
Total Liabilities$6,360,819$6,295,299▼ $65,520
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$487,839$358,627▼ $129,212
Total Net Assets Fund Balance$487,839$358,627▼ $129,212
Total Liabilities and Net Assets / Fund Balance$6,848,658$6,653,926▼ $194,732

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,189,163$1,644,648$6,833,811
Equipment-$50,626$50,626
Other Land Buildings-$50,592$50,592
Leasehold Improvements$9,764$16,986$26,750
Other Assets Org$490--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Ronald MontessiPresident
James LudvigMember
Josephine RosarioMember
Pauline AbbotSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$812,168
Program Service Revenue
$310,936
Investment Income
$14,090
Other Revenue
$191
Change in Net Assets
$-129,212

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,137,385
Total Revenue per Audited Statements
$1,137,385
Total Revenue per Form 990
$1,137,385
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,266,597
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
Interest$295,137--$295,137
Depreciation Depletion$224,531--$224,531
Occupancy$223,001--$223,001
Fees for Services Other$162,901$32,832-$195,733
Insurance$77,290--$77,290
Fees for Services Management-$42,584-$42,584
All Other Expenses$17,004--$17,004
Other Expenses$14,074--$14,074
Fees for Services Accounting-$14,000-$14,000
Fees for Services Legal$5,477--$5,477
Office Expenses-$34-$34
Total Functional Expenses$1,177,147$89,450$0$1,266,597

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,266,597
Total Expenses per Audited Statements$1,266,597
Total Expenses per Form 990$1,266,597
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
Accrued Mortgage Interest$257,003
Tenant Security Deposits Payable$13,407
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by the management agent and is ready to be filed with the internal revenue service, it is presented to the board for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Metro North Gardens Housing
EIN
13-3189285
Phone
7189936798
Address
C/O FOXY MGMT / 500 TRINITY AVENUE, BRONX, NY 10455

Signing Officer

Name
Ronald Montessi
Title
President
Phone
7189936798
Signed
2025-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronald Montessi
Formed
1983
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Luis C Rivera
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Metro north gardens housing development fund corporation (the "project"), a 48 unit apartment project located in new york, new york, was formed as a c corporation in september 1983 to provide housing for low income of the national housing act and regulated by the u.s. Department of housing and urban development ("hud") with respect to rental charges and operating methods. The project is subject to section 8 housing assistance payments agreements with hud, and a significant portion of the project's rental income is received from hud, as its only major program.”

Form 990, Page 2, Part III, Line 4D

“DEPRECIATION”

Form 990, Part IX, Line 11G

“Contracted admin and oper svc 162,901 32,832 0”

Raw XML Appendix377 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/BookValueAmt316850
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc4UTILITY DEPOSIT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0METRO NORTH GARDENS HOUSING DEVELOPMENT FUND CORPORATION (THE "PROJECT"), A 48 UNIT APARTMENT PROJECT LOCATED IN NEW YORK, NEW YORK, WAS FORMED AS A C CORPORATION IN SEPTEMBER 1983 TO PROVIDE HOUSING FOR LOW INCOME OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD, AS ITS ONLY MAJOR PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DEPRECIATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE MANAGEMENT AGENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PRESENTED TO THE BOARD FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACTED ADMIN AND OPER SVC 162,901 32,832 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RONALD MONTESSI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07189936798
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0METRO NORTH GARDENS HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0METR
ReturnHeader/Filer/EIN0133189285
ReturnHeader/Filer/PhoneNum07189936798
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O FOXY MGMT / 500 TRINITY AVENUE
ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010455
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133747593
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VARGAS & RIVERA CPA'S LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0586 ROUTE 304
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010956
ReturnHeader/PreparerPersonGrp/PhoneNum08456383113
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LUIS C RIVERA
ReturnHeader/ReturnTs02025-08-14T21:29:32-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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