Civic Intelligence

Parkside Housing Development Fund Company Inc

990 • Fiscal year 2016 • EIN 13-3526582

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 02, 2017

160 Heberton AvenueStaten Island, NY 10302

(718) 442-7351

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.70x

Higher debt load relative to assets than 53% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

68th percentile

5.47x

Higher debt load relative to revenue than 68% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Net Margin

56th percentile

-1.1%

Higher net margin than 56% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Asset Growth

79th percentile

3.6%

Faster asset growth than 79% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

35th percentile

-0.2%

Faster revenue growth than 35% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$3,172,036

Up $109,882 (+3.6%) from 2015

Net Assets

Down

$937,074

Down $4,667 (-0.5%) from 2015

Liabilities

Up

$2,234,962

Up $114,549 (+5.4%) from 2015

Revenue

Down

$408,381

Down $822 (-0.2%) from 2015

Expenses

Up

$413,048

Up $5,652 (+1.4%) from 2015

Net Income

Down

-$4,667

Down $6,474 (-358%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $2,165,068Liabilities 2013: $1,240,130Net Assets 2013: $924,9382013Assets 2014: $2,609,585Liabilities 2014: $1,669,651Net Assets 2014: $939,9342014Assets 2015: $3,062,154Liabilities 2015: $2,120,413Net Assets 2015: $941,7412015Assets 2016: $3,172,036Liabilities 2016: $2,234,962Net Assets 2016: $937,0742016Assets 2017: $3,143,228Liabilities 2017: $2,333,871Net Assets 2017: $809,3572017Assets 2018: $3,164,796Liabilities 2018: $2,394,574Net Assets 2018: $770,2222018Assets 2019: $3,285,088Liabilities 2019: $2,463,976Net Assets 2019: $821,1122019Assets 2020: $3,317,909Liabilities 2020: $2,538,219Net Assets 2020: $779,6902020Assets 2021: $3,251,406Liabilities 2021: $2,564,292Net Assets 2021: $687,1142021Assets 2022: $3,191,594Liabilities 2022: $2,630,889Net Assets 2022: $560,7052022Assets 2023: $3,166,933Liabilities 2023: $2,781,112Net Assets 2023: $385,8212023Assets 2024: $2,963,692Liabilities 2024: $2,793,019Net Assets 2024: $170,6732024

Highlighted filing

2016

Assets$3,172,036
Liabilities$2,234,962
Net Assets$937,074

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $1,192,781Expenses 2013: $236,596Net Income 2013: $956,1852013Revenue 2014: $432,591Expenses 2014: $417,595Net Income 2014: $14,9962014Revenue 2015: $409,203Expenses 2015: $407,396Net Income 2015: $1,8072015Revenue 2016: $408,381Expenses 2016: $413,048Net Income 2016: -$4,6672016Revenue 2017: $407,122Expenses 2017: $473,160Net Income 2017: -$66,0382017Revenue 2018: $418,847Expenses 2018: $457,982Net Income 2018: -$39,1352018Revenue 2019: $481,283Expenses 2019: $430,393Net Income 2019: $50,8902019Revenue 2020: $421,732Expenses 2020: $463,154Net Income 2020: -$41,4222020Revenue 2021: $423,804Expenses 2021: $490,654Net Income 2021: -$66,8502021Revenue 2022: $451,369Expenses 2022: $574,800Net Income 2022: -$123,4312022Revenue 2023: $436,254Expenses 2023: $611,138Net Income 2023: -$174,8842023Revenue 2024: $459,970Expenses 2024: $675,118Net Income 2024: -$215,1482024

Highlighted filing

2016

Revenue$408,381
Expenses$413,048
Net Income-$4,667
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 2, 2017
Return Version
2016v3.0
Gross Receipts
$408,381
Mission and Program Overview

Mission

Development and operation of a low income housing project for senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,387,773$2,388,568▲ $795
Cash and Non-Interest-Bearing Accounts$168,158$215,330▲ $47,172
Accounts Receivable$16,646$39,690▲ $23,044
Prepaid Expenses and Deferred Charges$13,855$14,488▲ $633
Total Assets$3,062,154$3,172,036▲ $109,882
Other Assets Total$475,722$513,960▲ $38,238
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,929,490$2,023,992▲ $94,502
Other Liabilities$107,024$133,913▲ $26,889
Accounts Payable and Accrued Expenses$83,899$77,057▼ $6,842
Total Liabilities$2,120,413$2,234,962▲ $114,549
Net Assets / Fund Balance
Unrestricted Net Assets$941,741$937,074▼ $4,667
Total Net Assets Fund Balance$941,741$937,074▼ $4,667
Total Liabilities and Net Assets / Fund Balance$3,062,154$3,172,036▲ $109,882

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,093,479$84,677$1,178,156
Buildings$791,467$104,533$896,000
Land$504,000-$504,000
Other Land Buildings$-378$378-
Other Assets Org$30,237--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joan CatalanoPresident
Michael GiordanoDirector
Kathleen BielsaSecretary
Paul FuscoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$400,029
Investment Income
$3,447
Other Revenue
$4,905
Change in Net Assets
$-4,667

Audited Revenue Reconciliation

Revenue per Audited Statements
$408,381
Total Revenue per Audited Statements
$408,381
Total Revenue per Form 990
$408,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$348,748
Salaries, Compensation, and Employee Benefits$64,300
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$70,314--$70,314
Interest$65,947--$65,947
Other Salaries and Wages$38,987--$38,987
Insurance$37,994--$37,994
Fees for Services Management-$30,984-$30,984
Other Employee Benefits$22,330--$22,330
Fees for Services Accounting-$8,000-$8,000
Other Expenses$5,044--$5,044
All Other Expenses$4,257--$4,257
Fees for Services Other-$3,750-$3,750
Payroll Taxes$2,983--$2,983
Fees for Services Legal-$2,739-$2,739
Total Functional Expenses$367,575$45,473$0$413,048

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$413,048
Total Expenses per Audited Statements$413,048
Total Expenses per Form 990$413,048
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 Interest Payable$87,513
Tenant Security Deposit$31,972
Due to Related Party$14,428
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Page 6, Part VI, Line 11B

The 990 is distributed to board members before filing.

Form 990, Page 6, Part VI, Line 12C

Prior to election to the board, and on an annual basis, all directors shall disclose in writing all conflicts of interest.

Form 990, Page 6, Part VI, Line 19

Parkside makes its form 990 and financial statements available to the public upon request. The governance documents and conflict of interest policy are distributed internally and not made available to the public.

Filing and Contact Details

Filer

Filer Name
Parkside Housing Development Fund
EIN
13-3526582
Phone
7184427351
Address
160 HEBERTON AVENUE, STATEN ISLAND, NY 10302

Signing Officer

Name
Joan Catalano
Title
President
Phone
7184427351
Signed
2017-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joan Catalano
Voting Board Members
5
Independent Board Members
5
Employees
1

Preparer

Firm
Desantis Kiefer Shall & Sarcone Llp
Address
1675 RICHMOND ROAD, STATEN ISLAND, NY 10304-2317
Preparer
John M Shall Jr CPA
Phone
7183512233
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Pakside is exempt from federal income tax under section 501( c) (3) of the internal revenue code and from state and local income taxes under comparable laws. Parkside represents that, to the best of its knowledge and belief, the tax-exempt status is still in effect as of december 31,2016. Parkside is subject to the provisions of the fasc asc topic 740, income taxes, as it relates to accounting and reporting for uncertainty in income taxes. Because of parkside's general tax-exempt status, asc topic 740 has not had, and is not expected to have, a material impact on its financial statements.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO RELATED PARTY
IRS990ScheduleD/RevenueSubtotalAmt0408381
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PAKSIDE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501( C) (3) OF THE INTERNAL REVENUE CODE AND FROM STATE AND LOCAL INCOME TAXES UNDER COMPARABLE LAWS. PARKSIDE REPRESENTS THAT, TO THE BEST OF ITS KNOWLEDGE AND BELIEF, THE TAX-EXEMPT STATUS IS STILL IN EFFECT AS OF DECEMBER 31,2016. PARKSIDE IS SUBJECT TO THE PROVISIONS OF THE FASC ASC TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. BECAUSE OF PARKSIDE'S GENERAL TAX-EXEMPT STATUS, ASC TOPIC 740 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON ITS FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02388568
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0513960
IRS990ScheduleD/TotalExpensesPerForm990Amt0413048
IRS990ScheduleD/TotalLiabilityAmt0133913
IRS990ScheduleD/TotalRevenuePerForm990Amt0408381
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0408381
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0413048
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS DISTRIBUTED TO BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR TO ELECTION TO THE BOARD, AND ON AN ANNUAL BASIS, ALL DIRECTORS SHALL DISCLOSE IN WRITING ALL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PARKSIDE MAKES ITS FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNANCE DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE DISTRIBUTED INTERNALLY AND NOT MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NORTHFIELD COMMUNITY LDC OF SI INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0132974137
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0WEATHERIZA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0160 HEBERTON AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0STATEN ISLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010302
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03062154
IRS990/TotalAssetsEOYAmt03172036
IRS990/TotalAssetsGrp/BOYAmt03062154
IRS990/TotalAssetsGrp/EOYAmt03172036
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045473
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0367575
IRS990/TotalFunctionalExpensesGrp/TotalAmt0413048
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02120413
IRS990/TotalLiabilitiesEOYAmt02234962
IRS990/TotalLiabilitiesGrp/BOYAmt02120413
IRS990/TotalLiabilitiesGrp/EOYAmt02234962
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0941741
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0937074
IRS990/TotalProgramServiceExpensesAmt0364592
IRS990/TotalProgramServiceRevenueAmt0400029
IRS990/TotalRevenueGrp/ExclusionAmt03447
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0404934
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0408381
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03062154
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03172036
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0941741
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0937074
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0160 HEBERTON AVENUE
IRS990/USAddress/CityNm0STATEN ISLAND
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010302
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOAN CATALANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07184427351
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PARKSIDE HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0PARK
ReturnHeader/Filer/EIN0133526582
ReturnHeader/Filer/PhoneNum07184427351
ReturnHeader/Filer/USAddress/AddressLine1Txt0160 HEBERTON AVENUE
ReturnHeader/Filer/USAddress/CityNm0STATEN ISLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010302
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04B9574BBDD0204A188A8DEBA62D935347ECE7FDE
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02355D7D439337C85EDE1337022C3BF33BFAE3A19
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133952752
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DESANTIS KIEFER SHALL & SARCONE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01675 RICHMOND ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0STATEN ISLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0103042317
ReturnHeader/PreparerPersonGrp/PhoneNum07183512233
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN M SHALL JR CPA
ReturnHeader/ReturnTs02017-11-02T12:20:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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