Civic Intelligence

Melrose Villa Hermosa Housing Development Fund Company Inc.

990 • Fiscal year 2022 • EIN 13-3501749

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

Organization ProfileNONE
825 Melrose AvenueBronx, NY 10451

(718) 665-2747

Siviq Scores

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

Liabilities / Assets

34th percentile

0.04x

Higher debt load relative to assets than 34% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

64th percentile

0.29x

Higher debt load relative to revenue than 64% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

7th percentile

-45%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

30th percentile

-5.0%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

-0.2%

Faster revenue growth than 41% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets34th percentile

Assets

Down

$6,760,969

Down $354,388 (-5.0%) from 2021

Net Assets

Down

$6,462,418

Down $459,658 (-6.6%) from 2021

Liabilities

Up

$298,551

Up $105,270 (+54%) from 2021

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin7th percentile

Revenue

Down

$1,023,446

Down $2,106 (-0.2%) from 2021

Expenses

Up

$1,483,104

Up $229,284 (+18%) from 2021

Net Income

Down

-$459,658

Down $231,390 (-101%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$10M$5.0M$0Assets 2010: $9,679,850Liabilities 2010: $383,075Net Assets 2010: $9,296,7752010Assets 2011: $9,232,064Liabilities 2011: $172,598Net Assets 2011: $9,059,4662011Assets 2012: $9,128,632Liabilities 2012: $176,656Net Assets 2012: $8,951,9762012Assets 2013: $9,000,420Liabilities 2013: $186,446Net Assets 2013: $8,813,9742013Assets 2014: $8,782,990Liabilities 2014: $191,464Net Assets 2014: $8,591,5262014Assets 2015: $8,578,138Liabilities 2015: $191,380Net Assets 2015: $8,386,7582015Assets 2016: $8,381,116Liabilities 2016: $232,756Net Assets 2016: $8,148,3602016Assets 2017: $8,052,765Liabilities 2017: $221,629Net Assets 2017: $7,831,1362017Assets 2018: $7,932,584Liabilities 2018: $365,446Net Assets 2018: $7,567,1382018Assets 2019: $7,603,222Liabilities 2019: $247,092Net Assets 2019: $7,356,1302019Assets 2020: $7,331,361Liabilities 2020: $181,017Net Assets 2020: $7,150,3442020Assets 2021: $7,115,357Liabilities 2021: $193,281Net Assets 2021: $6,922,0762021Assets 2022: $6,760,969Liabilities 2022: $298,551Net Assets 2022: $6,462,4182022Assets 2023: $6,377,154Liabilities 2023: $371,716Net Assets 2023: $6,005,4382023Assets 2024: $1,103,256Liabilities 2024: $104,936Net Assets 2024: $998,3202024

Highlighted filing

2022

Assets$6,760,969
Liabilities$298,551
Net Assets$6,462,418
Open 2022 Filing

Operations Trend

Revenue Growth41st percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,007,8932010Expenses 2011: $978,4282011Expenses 2012: $993,4532012Revenue 2013: $900,418Expenses 2013: $1,038,420Net Income 2013: -$138,0022013Revenue 2014: $894,496Expenses 2014: $1,116,944Net Income 2014: -$222,4482014Revenue 2015: $889,291Expenses 2015: $1,094,059Net Income 2015: -$204,7682015Revenue 2016: $898,335Expenses 2016: $1,136,733Net Income 2016: -$238,3982016Revenue 2017: $882,042Expenses 2017: $1,199,266Net Income 2017: -$317,2242017Revenue 2018: $894,391Expenses 2018: $1,158,389Net Income 2018: -$263,9982018Revenue 2019: $999,154Expenses 2019: $1,167,740Net Income 2019: -$168,5862019Revenue 2020: $1,063,890Expenses 2020: $1,276,244Net Income 2020: -$212,3542020Revenue 2021: $1,025,552Expenses 2021: $1,253,820Net Income 2021: -$228,2682021Revenue 2022: $1,023,446Expenses 2022: $1,483,104Net Income 2022: -$459,6582022Revenue 2023: $1,036,108Expenses 2023: $1,493,088Net Income 2023: -$456,9802023Revenue 2024: $6,007,595Expenses 2024: $1,295,089Net Income 2024: $4,712,5062024

Highlighted filing

2022

Revenue$1,023,446
Expenses$1,483,104
Net Income-$459,658
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$1,023,446
Mission and Program Overview

Mission

Low Income housing for elderly and disabled

Provide low-income housing for the elderly and the disabled

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,492,258$6,364,406▼ $127,852
Accounts Receivable$230,901$195,798▼ $35,103
Cash and Non-Interest-Bearing Accounts$61,375$1,362▼ $60,013
Total Assets$7,115,357$6,760,969▼ $354,388
Other Assets Total$330,823$199,403▼ $131,420
Liabilities
Accounts Payable and Accrued Expenses$168,136$271,631▲ $103,495
Other Liabilities$20,964$21,930▲ $966
Deferred Revenue$4,181$4,990▲ $809
Total Liabilities$193,281$298,551▲ $105,270
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,719,624$9,719,624→ $0
Net Assets Without Donor Restrictions$-2,797,548$-3,257,206▼ $459,658
Total Net Assets Fund Balance$6,922,076$6,462,418▼ $459,658
Total Liabilities and Net Assets / Fund Balance$7,115,357$6,760,969▼ $354,388

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,341,148$4,652,219$10,993,367
Equipment$23,258$160,779$184,037
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Rev Bertram BennettPresident
Danny TorresBoard Member
James FrancisSecretary
Yvonne JamesTreasurer
Gloria AlstonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,022,146
Investment Income
$1,300
Other Revenue
$0
Change in Net Assets
$-459,658

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,023,446
Total Revenue per Audited Statements
$1,023,446
Total Revenue per Form 990
$1,023,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,282,869
Salaries, Compensation, and Employee Benefits$200,235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$325,291--$325,291
Fees for Services Other$202,481--$202,481
Occupancy$184,045--$184,045
Other Salaries and Wages$143,444--$143,444
Fees for Services Management-$108,500-$108,500
Insurance$82,875--$82,875
Other Employee Benefits$42,235--$42,235
Office Expenses$33,175--$33,175
Fees for Services Accounting-$31,690-$31,690
Payroll Taxes$14,556--$14,556
Other Expenses$10,159$954-$11,113
Fees for Services Legal$7,500--$7,500
All Other Expenses$6,548--$6,548
Total Functional Expenses$1,328,815$154,289$0$1,483,104

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,483,104
Total Expenses per Audited Statements$1,483,104
Total Expenses per Form 990$1,483,104
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 Deposit$21,930
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The board contracted grenadier realty management llc (managing agent) to manage the rental property through a management contract agreement. The managing agent reports to the board on a monthly basis.”

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

“The draft form 990 is initially provided to the managing agent for review and comments. Once reviewed and comments adddressed, the draft form 990 is then provided to the board through the president for review and approval of the full-board for filing with the irs.”

Form 990, Page 6, Part VI, Line 19

“The organization's form 990 is available for public inspection at www.guidestar.org and https://apps.irs.gov/app/eos/. The organization makes its governing documents, and financial statements available to the public upon written request to the managing agent, renadier realty management llc located at 168 39th street, suite 306, brooklyn, ny 11232.”

Filing and Contact Details

Filer

Filer Name
Melrose Villa Hermosa Development
EIN
13-3501749
Phone
7186652747
Address
825 MELROSE AVENUE, BRONX, NY 10451

Signing Officer

Name
Rev Bertram Bennett
Title
President
Signed
2023-11-08

Organization Details

Principal Officer
Rev Bertram Bennett
Formed
2004
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
4
Volunteers
5

Preparer

Firm
Galleros Robinson
Address
115 DAVIS STATION RD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
6469210400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Security services 202,481 0 0”

Form 990, Page 12, Part XII, Line 2C

“This process has not changed from prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The project is exempt from federal income tax under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the projects tax-exempt purpose is subject to taxation as unrelated business income. The project recognizes the effect of income tax positions only if those positions are morelikely-than-not be sustained upon examination by taxing authorities. Management has determined that the project has no uncertain tax positions that would require financial statement recognition or disclosure. The project is no longer subject to audits by the applicable taxing jurisdictions for periods prior to 2019. Currently, there are no audits in progress.”

Raw XML Appendix375 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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IRS990ScheduleA/PublicSupportPY509Pct00.99890
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0998062
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0891865
IRS990ScheduleA/Total509Grp/TotalAmt04999577
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01063890
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0999154
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IRS990ScheduleD/BuildingsGrp/BookValueAmt06341148
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04652219
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010993367
IRS990ScheduleD/EquipmentGrp/BookValueAmt023258
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0160779
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0184037
IRS990ScheduleD/ExpensesSubtotalAmt01483104
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021930
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE PROJECTS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE PROJECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORELIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE PROJECT HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE PROJECT IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2019. CURRENTLY, THERE ARE NO AUDITS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt01483104
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IRS990ScheduleD/TotalRevenuePerForm990Amt01023446
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01023446
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD CONTRACTED GRENADIER REALTY MANAGEMENT LLC (MANAGING AGENT) TO MANAGE THE RENTAL PROPERTY THROUGH A MANAGEMENT CONTRACT AGREEMENT. THE MANAGING AGENT REPORTS TO THE BOARD ON A MONTHLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT FORM 990 IS INITIALLY PROVIDED TO THE MANAGING AGENT FOR REVIEW AND COMMENTS. ONCE REVIEWED AND COMMENTS ADDDRESSED, THE DRAFT FORM 990 IS THEN PROVIDED TO THE BOARD THROUGH THE PRESIDENT FOR REVIEW AND APPROVAL OF THE FULL-BOARD FOR FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AT WWW.GUIDESTAR.ORG AND HTTPS://APPS.IRS.GOV/APP/EOS/. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE MANAGING AGENT, RENADIER REALTY MANAGEMENT LLC LOCATED AT 168 39TH STREET, SUITE 306, BROOKLYN, NY 11232.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SECURITY SERVICES 202,481 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0154289
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01328815
IRS990/TotalFunctionalExpensesGrp/TotalAmt01483104
IRS990/TotalGrossUBIAmt00
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IRS990/USAddress/ZIPCd010451
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0REV BERTRAM BENNETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MELROSE VILLA HERMOSA DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0MELR
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ReturnHeader/Filer/PhoneNum07186652747
ReturnHeader/Filer/USAddress/AddressLine1Txt0825 MELROSE AVENUE
ReturnHeader/Filer/USAddress/CityNm0BRONX
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GALLEROS ROBINSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 DAVIS STATION RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CREAM RIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008514
ReturnHeader/PreparerPersonGrp/PhoneNum06469210400
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONORA GALLEROS
ReturnHeader/ReturnTs02023-11-08T11:15:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0REV BERTRAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BENNETT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,760,969
Liabilities
$298,551
Net assets
$6,462,418
Revenue
$1,023,446
Expenses
$1,483,104
Net income
-$459,658
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.10$1.00$6.01$1.30$4.71
2023Detailed filing. Detailed filing data is available for this year.$6.38$0.37$6.01$1.04$1.49$0.46
2022Detailed filing. Detailed filing data is available for this year.$6.76$0.30$6.46$1.02$1.48$0.46
2021Detailed filing. Detailed filing data is available for this year.$7.12$0.19$6.92$1.03$1.25$0.23
2020Detailed filing. Detailed filing data is available for this year.$7.33$0.18$7.15$1.06$1.28$0.21
2019Detailed filing. Detailed filing data is available for this year.$7.60$0.25$7.36$1.00$1.17$0.17
2018Detailed filing. Detailed filing data is available for this year.$7.93$0.37$7.57$0.89$1.16$0.26
2017Detailed filing. Detailed filing data is available for this year.$8.05$0.22$7.83$0.88$1.20$0.32
2016Detailed filing. Detailed filing data is available for this year.$8.38$0.23$8.15$0.90$1.14$0.24
2015Detailed filing. Detailed filing data is available for this year.$8.58$0.19$8.39$0.89$1.09$0.20
2014Detailed filing. Detailed filing data is available for this year.$8.78$0.19$8.59$0.89$1.12$0.22
2013Summary only. Only limited summary data is available for this year.$9.00$0.19$8.81$0.90$1.04$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.13$0.18$8.95$0.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.23$0.17$9.06$0.98
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.68$0.38$9.30$1.01