Civic Intelligence

Fulton Plaza Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 13-3651524

Jan 01, 2019 to Dec 31, 2019 • Filed on May 06, 2021

Organization ProfileMRCBX.ORG
576 East 165th StreetBronx, NY 10456

(718) 589-7858

Siviq Scores

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

Liabilities / Assets

75th percentile

0.36x

Higher debt load relative to assets than 75% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

1.80x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

45th percentile

$50,375

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

37th percentile

-0.6%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-5.6%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$2,727,101

Down $15,729 (-0.6%) from 2018

Net Assets

Up

$1,756,731

Up $72,846 (+4.3%) from 2018

Liabilities

Down

$970,370

Down $88,575 (-8.4%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin70th percentile

Revenue

Down

$540,334

Down $32,191 (-5.6%) from 2018

Expenses

Down

$467,488

Down $48,644 (-9.4%) from 2018

Net Income

Up

$72,846

Up $16,453 (+29%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,604,977Liabilities 2010: $1,050,563Net Assets 2010: $1,554,4142010Assets 2011: $2,581,382Liabilities 2011: $1,075,019Net Assets 2011: $1,506,3632011Assets 2013: $2,966,453Liabilities 2013: $975,028Net Assets 2013: $1,991,4252013Assets 2016: $2,714,861Liabilities 2016: $1,131,322Net Assets 2016: $1,583,5392016Assets 2017: $2,711,647Liabilities 2017: $1,084,155Net Assets 2017: $1,627,4922017Assets 2018: $2,742,830Liabilities 2018: $1,058,945Net Assets 2018: $1,683,8852018Assets 2019: $2,727,101Liabilities 2019: $970,370Net Assets 2019: $1,756,7312019Assets 2020: $2,752,012Liabilities 2020: $909,615Net Assets 2020: $1,842,3972020Assets 2021: $2,768,696Liabilities 2021: $876,021Net Assets 2021: $1,892,6752021Assets 2022: $2,664,138Liabilities 2022: $853,222Net Assets 2022: $1,810,9162022Assets 2023: $2,494,915Liabilities 2023: $776,523Net Assets 2023: $1,718,3922023

Highlighted filing

2019

Assets$2,727,101
Liabilities$970,370
Net Assets$1,756,731
Open 2019 Filing

Operations Trend

Revenue Growth28th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $602,7262010Revenue 2011: $438,148Expenses 2011: $435,867Net Income 2011: $2,2812011Revenue 2013: $505,312Expenses 2013: $389,223Net Income 2013: $116,0892013Revenue 2016: $618,493Expenses 2016: $421,624Net Income 2016: $196,8692016Revenue 2017: $597,090Expenses 2017: $446,079Net Income 2017: $151,0112017Revenue 2018: $572,525Expenses 2018: $516,132Net Income 2018: $56,3932018Revenue 2019: $540,334Expenses 2019: $467,488Net Income 2019: $72,8462019Revenue 2020: $588,084Expenses 2020: $502,418Net Income 2020: $85,6662020Revenue 2021: $588,131Expenses 2021: $537,853Net Income 2021: $50,2782021Revenue 2022: $528,174Expenses 2022: $609,933Net Income 2022: -$81,7592022Revenue 2023: $587,086Expenses 2023: $679,610Net Income 2023: -$92,5242023

Highlighted filing

2019

Revenue$540,334
Expenses$467,488
Net Income$72,846
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 6, 2021
Return Version
2019v5.2
Gross Receipts
$540,334
Mission and Program Overview

Mission

Provide affordable low income rental housing

Provider of affordable low inome rental housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,350,510$2,218,500▼ $132,010
Cash and Non-Interest-Bearing Accounts$151,230$254,776▲ $103,546
Accounts Receivable$163,572$168,806▲ $5,234
Savings and Temporary Cash Investments$38,606$44,606▲ $6,000
Prepaid Expenses and Deferred Charges$8,648$8,648→ $0
Total Assets$2,742,830$2,727,101▼ $15,729
Other Assets Total$30,264$31,765▲ $1,501
Liabilities
Mortgage Notes Payable Secured by Investment Property$655,937$654,520▼ $1,417
Unsecured Notes Loans Payable$306,180$245,425▼ $60,755
Accounts Payable and Accrued Expenses$66,564$38,752▼ $27,812
Other Liabilities$30,264$31,673▲ $1,409
Total Liabilities$1,058,945$970,370▼ $88,575
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,683,885$1,756,731▲ $72,846
Total Net Assets Fund Balance$1,683,885$1,756,731▲ $72,846
Total Liabilities and Net Assets / Fund Balance$2,742,830$2,727,101▼ $15,729

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,838,500$2,473,665$4,312,165
Land$380,000-$380,000
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Claudia NisbettExecutive DirectorPT$50,375$50,375

Board Members and Trustees

NameTitle
Louise WashingtonPresident
Abigail TaylorDirector
Eddie McshaneDirector
Flor CamarenaDirector
Glenda CampbellDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$540,334
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$72,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$467,488
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
Depreciation Depletion$129,097--$129,097
Fees for Services Other$52,832--$52,832
Fees for Services Management$44,708--$44,708
Insurance$32,529--$32,529
Fees for Services Legal$18,797--$18,797
Interest$13,756--$13,756
Fees for Services Accounting$7,917--$7,917
Office Expenses$3,851--$3,851
Other Expenses$390--$390
Total Functional Expenses$467,488$0$0$467,488
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$31,673
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 reviewed and approved by the board prior to filing.”

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

“Board members are required to disclose any conflicts of interest on an annual basis and as potential conflicts arise.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Fulton Plaza Housing Development Fund
EIN
13-3651524
Phone
7185897858
Address
576 EAST 165TH STREET, BRONX, NY 10456

Signing Officer

Name
Paul Moore
Title
Deputy Executive Director
Phone
6466758248
Signed
2021-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Moore
Formed
1992
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Friedman Llp
Address
ONE LIBERTY PLAZA 165 BROADWAY 21ST, FL, NEW YORK, NY 10006
Preparer
Sarah Avery
Phone
2128427000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Payroll funding: program service expenses 51,382. Management and general expenses 0. Fundraising expenses 0. Total expenses 51,382. Consultants: program service expenses 1,450. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,450.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS AND AS POTENTIAL CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL FUNDING: PROGRAM SERVICE EXPENSES 51,382. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,382. CONSULTANTS: PROGRAM SERVICE EXPENSES 1,450. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,450.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0PUBLIC CHARITY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010456
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt051382
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MORRISANIA REVITALIZATION CO
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02742830
IRS990/TotalAssetsEOYAmt02727101
IRS990/TotalAssetsGrp/BOYAmt02742830
IRS990/TotalAssetsGrp/EOYAmt02727101
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0467488
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01756731
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0467488
IRS990/TotalProgramServiceRevenueAmt0540334
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0540334
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0540334
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02727101
IRS990/TotReportableCompRltdOrgAmt050375
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0245425
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IRS990/USAddress/AddressLine1Txt0576 EAST 165TH STREET
IRS990/USAddress/CityNm0BRONX
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010456
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0MRCBX.ORG
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0THE FORMER EXECUTIVE DIRECTOR OF THE ORGANIZATION, CLAUDIA NISBETT (DECEASED AUGUST 2020) WAS AN EMPLOYEE FOR OVER 10 YEARS. THE ORGANIZATION'S TAX RETURNS WERE FILED TIMELY THROUGHOUT THAT PERIOD. TRAGICALLY, SHE BECAME ILL IN 2015-16, AND UNFORTUNATELY, THE TIMELY FILING OF TAX RETURNS WAS OVERLOOKED. WHEN THE BOARD WAS MADE AWARE THAT THE FILING DEADLINES HAD BEEN MISSED AND THE EXEMPT STATUS REVOKED, THE CURRENT SERVICE PROVIDER, FRIEDMAN LLP, WAS ENGAGED. DISCUSSIONS WITH FRIEDMAN LLP TO PREPARE THE DELINQUENT RETURNS COMMENCED EARLY MARCH 2020. UNFORTUNATELY, THE PANDEMIC HIT AND DIFFICULTIES WITH GATHERING THE DATA TO PREPARE AND FILE COMPLETE RETURNS WAS ENCOUNTERED. THE ENGAGEMENT LETTER WITH FRIEDMAN LLP WAS ULTIMATELY SIGNED JANUARY 22, 2021 AND THE PROCESS TO GATHER THE INFORMATION NECESSARY TO PREPARE COMPLETE RETURNS FOR ALL DELINQUENT YEARS.
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL MOORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DEPUTY EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06466758248
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FULTON PLAZA HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0FULT
ReturnHeader/Filer/EIN0133651524
ReturnHeader/Filer/PhoneNum07185897858
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ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010456
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0131610809
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FRIEDMAN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE LIBERTY PLAZA 165 BROADWAY 21ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010006
ReturnHeader/PreparerPersonGrp/PhoneNum02128427000
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH AVERY
ReturnHeader/ReturnTs02021-05-14T15:10:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,727,101
Liabilities
$970,370
Net assets
$1,756,731
Revenue
$540,334
Expenses
$467,488
Net income
$72,846
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$2.49$0.78$1.72$0.59$0.68$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.66$0.85$1.81$0.53$0.61$0.08
2021Detailed filing. Detailed filing data is available for this year.$2.77$0.88$1.89$0.59$0.54$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.75$0.91$1.84$0.59$0.50$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.73$0.97$1.76$0.54$0.47$0.07
2018Detailed filing. Detailed filing data is available for this year.$2.74$1.06$1.68$0.57$0.52$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.71$1.08$1.63$0.60$0.45$0.15
2016Detailed filing. Detailed filing data is available for this year.$2.71$1.13$1.58$0.62$0.42$0.20
2013Detailed filing. Detailed filing data is available for this year.$2.97$0.98$1.99$0.51$0.39$0.12
2011Summary only. Only limited summary data is available for this year.$2.58$1.08$1.51$0.44$0.44$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$1.05$1.55$0.60