Civic Intelligence

Garmendia Gardens Housing Development Fund Corporatio

EIN 13-3646719 • 501(c)3 • Bronx, NY

Profile

To provide quality housing and social services to the low and moderate income families in the south bronx, ny.

1945 Vyse AvenueBronx, NY 10460
Siviq Scores

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

Liabilities / Assets

95th percentile

1.16x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

3.83x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

8th percentile

-42%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

86th percentile

$153,154

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 37.9% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

16th percentile

-9.5%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

2.9%

Faster revenue growth than 41% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,373,058

Down $144,534 (-9.5%) from 2021

Liabilities

Up

$1,592,766

Up $34,420 (+2.2%) from 2021

Net Assets

Down

-$219,708

Down $178,954 (-439%) from 2021

Operations
Liabilities / Revenue96th percentileNet Margin8th percentile

Revenue

Up

$416,257

Up $11,885 (+2.9%) from 2021

Expenses

Up

$591,859

Up $249,887 (+73%) from 2021

Net Income

Down

-$175,602

Down $238,002 (-381%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth16th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2011: $1,454,085Liabilities 2011: $1,576,435Net Assets 2011: -$122,3502011Assets 2012: $1,494,638Liabilities 2012: $1,621,748Net Assets 2012: -$127,1102012Assets 2013: $1,439,436Liabilities 2013: $1,598,886Net Assets 2013: -$159,4502013Assets 2014: $1,463,245Liabilities 2014: $1,617,148Net Assets 2014: -$153,9032014Assets 2015: $1,434,921Liabilities 2015: $1,604,077Net Assets 2015: -$169,1562015Assets 2016: $1,454,034Liabilities 2016: $1,571,795Net Assets 2016: -$117,7612016Assets 2017: $1,447,821Liabilities 2017: $1,557,965Net Assets 2017: -$110,1442017Assets 2018: $1,424,822Liabilities 2018: $1,544,027Net Assets 2018: -$119,2052018Assets 2019: $1,401,144Liabilities 2019: $1,555,430Net Assets 2019: -$154,2862019Assets 2020: $1,452,776Liabilities 2020: $1,555,930Net Assets 2020: -$103,1542020Assets 2021: $1,517,592Liabilities 2021: $1,558,346Net Assets 2021: -$40,7542021Assets 2022: $1,373,058Liabilities 2022: $1,592,766Net Assets 2022: -$219,7082022

Highlighted filing

2022

Assets$1,373,058
Liabilities$1,592,766
Net Assets-$219,708
Open 2022 Filing

Operations Trend

Revenue Growth41st percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $334,1052011Expenses 2012: $383,9282012Revenue 2013: $380,801Expenses 2013: $412,159Net Income 2013: -$31,3582013Revenue 2014: $371,508Expenses 2014: $365,961Net Income 2014: $5,5472014Revenue 2015: $387,240Expenses 2015: $402,493Net Income 2015: -$15,2532015Revenue 2016: $403,615Expenses 2016: $352,220Net Income 2016: $51,3952016Revenue 2017: $392,557Expenses 2017: $384,940Net Income 2017: $7,6172017Revenue 2018: $377,203Expenses 2018: $386,264Net Income 2018: -$9,0612018Revenue 2019: $388,204Expenses 2019: $423,285Net Income 2019: -$35,0812019Revenue 2020: $399,859Expenses 2020: $348,727Net Income 2020: $51,1322020Revenue 2021: $404,372Expenses 2021: $341,972Net Income 2021: $62,4002021Revenue 2022: $416,257Expenses 2022: $591,859Net Income 2022: -$175,6022022

Highlighted filing

2022

Revenue$416,257
Expenses$591,859
Net Income-$175,602
Open 2022 Filing

Filings

Most recent year

2022 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$1,373,058
Liabilities
$1,592,766
Net assets
-$219,708
Revenue
$416,257
Expenses
$591,859
Net income
-$175,602
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.37$1.59$0.22$0.42$0.59$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.52$1.56$0.04$0.40$0.34$0.06
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$1.56$0.10$0.40$0.35$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.40$1.56$0.15$0.39$0.42$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$1.54$0.12$0.38$0.39$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$1.56$0.11$0.39$0.38$0.01
2016Summary only. Only limited summary data is available for this year.$1.45$1.57$0.12$0.40$0.35$0.05
2015Summary only. Only limited summary data is available for this year.$1.43$1.60$0.17$0.39$0.40$0.02
2014Summary only. Only limited summary data is available for this year.$1.46$1.62$0.15$0.37$0.37$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$1.60$0.16$0.38$0.41$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$1.62$0.13$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$1.58$0.12$0.33
Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 26, 2022
Return Version
2020v4.0
Gross Receipts
$404,372
Mission and Program Overview

Mission

To provide quality housing and social services to the low and moderate income families in the south bronx, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,029,430$1,109,935▲ $80,505
Accounts Receivable$124,761$157,933▲ $33,172
Land, Buildings, and Equipment, Net$215,279$153,657▼ $61,622
Savings and Temporary Cash Investments$27,955$27,858▼ $97
Investments in Publicly Traded Securities$24,536$24,822▲ $286
Prepaid Expenses and Deferred Charges$8,022$9,875▲ $1,853
Total Assets$1,452,776$1,517,592▲ $64,816
Other Assets Total$22,793$33,512▲ $10,719
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,500,000$1,500,000→ $0
Accounts Payable and Accrued Expenses$35,378$38,424▲ $3,046
Escrow Account Liability$18,549$17,216▼ $1,333
Other Liabilities$2,003$2,706▲ $703
Total Liabilities$1,555,930$1,558,346▲ $2,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-103,154$-40,754▲ $62,400
Total Net Assets Fund Balance$-103,154$-40,754▲ $62,400
Total Liabilities and Net Assets / Fund Balance$1,452,776$1,517,592▲ $64,816

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$136,394$1,371,131$1,507,525
Equipment$17,263$23,067$40,330
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleBaseOtherTotal
Steven SeltzerExecutive Di-$153,154$153,154
Jason BoroffVice Chair/t$1,297$123,328$124,625
Jean BonhommeController-$93,819$93,819

Board Members and Trustees

NameTitle
Valerie TorresChair
Steven SeltzerExecutive Director
Joan TraniMember
Josefa SantosMember
Salvatore GiganteMember
Evelyn VelasquezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$7,375
Program Service Revenue
$396,689
Investment Income
$308
Other Revenue
$0
Change in Net Assets
$62,400

Audited Revenue Reconciliation

Revenue per Audited Statements
$404,372
Total Revenue per Audited Statements
$404,372
Total Revenue per Form 990
$404,372
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,892
Salaries, Compensation, and Employee Benefits$48,080
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$88,578--$88,578
Depreciation Depletion$61,622--$61,622
Insurance$40,625--$40,625
Other Salaries and Wages$29,435--$29,435
Fees for Services Management-$26,935-$26,935
Other Employee Benefits$16,119--$16,119
Fees for Services Accounting-$8,075-$8,075
Other Expenses$2,606$100-$2,606
Payroll Taxes$2,526--$2,526
All Other Expenses$1,988--$1,988
Fees for Services Legal$467--$467
Total Functional Expenses$306,862$35,110$0$341,972

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$341,972
Total Expenses per Audited Statements$341,972
Total Expenses per Form 990$341,972
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
Prepaid Revenue$2,706
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 organization is managed by grenadier realty corp, which manages the books and records of the organization as well as the day-to-day operations. Aquinas housing corporation, its sponsor, oversees operations and provides asset management.”

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 reportedd is complete and accurate. When the form 990 has been prepared, reviewed by the controller and is ready to be filled with the internal service revenue, it is electronically sent to the board of members of the organization for approval.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similiar types of websites. In addition, the financial statements, articles of incorporation, form 990, form 1023, and by-laws are available upon written request or by calling the organization directly.”

Filing and Contact Details

Filer

Filer Name
Garmendia Gardens Housing
EIN
13-3646719
Phone
7188426440
Address
1945 VYSE AVENUE, BRONX, NY 10460

Signing Officer

Name
Steven Seltzer
Title
Executive Director
Phone
7188426440
Signed
2022-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Torres
Formed
1991
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
5
Employees
0

Preparer

Firm
A Gary Aaronson CPA Pllc
Address
42 WEST 38TH STREET SUITE 1003, NEW YORK, NY 10018-0060
Preparer
A Gary Aaronson
Phone
2126845770
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The organization holds security deposits from tenants in an escrow account. These deposits are returned to the tenants once they move out of the apartment.”

Raw XML AppendixShowing 400 of 853 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.

Path#Value
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IRS990/PYOtherExpensesAmt0300698
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IRS990/PYSalariesCompEmpBnftPaidAmt048029
IRS990/PYTotalExpensesAmt0348727
IRS990/PYTotalRevenueAmt0399859
IRS990/ReconcilationRevenueExpnssAmt062400
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01693
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0228
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01962195
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01371131
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IRS990ScheduleD/EquipmentGrp/BookValueAmt017263
IRS990ScheduleD/EquipmentGrp/DepreciationAmt023067
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleD/TotalExpensesPerForm990Amt0341972
IRS990ScheduleD/TotalLiabilityAmt02706
IRS990ScheduleD/TotalRevenuePerForm990Amt0404372
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS MANAGED BY GRENADIER REALTY CORP, WHICH MANAGES THE BOOKS AND RECORDS OF THE ORGANIZATION AS WELL AS THE DAY-TO-DAY OPERATIONS. AQUINAS HOUSING CORPORATION, ITS SPONSOR, OVERSEES OPERATIONS AND PROVIDES ASSET MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTEDD IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE CONTROLLER AND IS READY TO BE FILLED WITH THE INTERNAL SERVICE REVENUE, IT IS ELECTRONICALLY SENT TO THE BOARD OF MEMBERS OF THE ORGANIZATION FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILIAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY.
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
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt8AQUINAS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt9AQUINAS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt10AQUINAS
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1133464429
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN2521603426
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN3133531082
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN5133874541
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN6134201332
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN9562463615
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN10825393529
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt2C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt3C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt4C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt5C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt6C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt7C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt8C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt9C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt10C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd6NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MANAGING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1MANAGING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt6LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt7LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8LOW INCOME

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