Civic Intelligence

Two Bridgeset Housing Development Fund Company Inc

990 • Fiscal year 2017 • EIN 13-3686755

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

247 W37th Street4th FloorNew York, NY 10018

(212) 265-6530

Siviq Scores

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

Liabilities / Assets

48th percentile

0.24x

Higher debt load relative to assets than 48% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

100.05x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

34th percentile

0.0%

Higher net margin than 34% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

60th percentile

$286,424

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 242.7% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

29th percentile

0.0%

Faster asset growth than 29% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

33rd percentile

0.0%

Faster revenue growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Flat

$49,401,661

Flat from 2016

Net Assets

Flat

$37,595,799

Flat from 2016

Liabilities

Flat

$11,805,862

Flat from 2016

Revenue

Flat

$117,999

Flat from 2016

Expenses

Flat

$117,999

Flat from 2016

Net Income

Flat

$0

Flat from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2009: $37,602,595Liabilities 2009: $14,460,099Net Assets 2009: $23,142,4962009Assets 2011: $37,602,574Liabilities 2011: $13,498,986Net Assets 2011: $24,103,5882011Assets 2012: $37,602,574Liabilities 2012: $5,240Net Assets 2012: $37,597,3342012Assets 2013: $49,401,661Liabilities 2013: $11,805,862Net Assets 2013: $37,595,7992013Assets 2014: $49,401,661Liabilities 2014: $11,805,862Net Assets 2014: $37,595,7992014Assets 2015: $49,401,661Liabilities 2015: $11,805,862Net Assets 2015: $37,595,7992015Assets 2016: $49,401,661Liabilities 2016: $11,805,862Net Assets 2016: $37,595,7992016Assets 2017: $49,401,661Liabilities 2017: $11,805,862Net Assets 2017: $37,595,7992017Assets 2018: $49,401,661Liabilities 2018: $11,805,862Net Assets 2018: $37,595,7992018Assets 2019: $49,401,661Liabilities 2019: $11,805,862Net Assets 2019: $37,595,7992019

Highlighted filing

2017

Assets$49,401,661
Liabilities$11,805,862
Net Assets$37,595,799

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2009: $744,472Expenses 2009: $295,116Net Income 2009: $449,3562009Expenses 2011: $202,0452011Expenses 2012: $7752012Revenue 2013: $117,999Expenses 2013: $121,333Net Income 2013: -$3,3342013Revenue 2014: $117,999Expenses 2014: $117,999Net Income 2014: $02014Revenue 2015: $117,999Expenses 2015: $117,999Net Income 2015: $02015Revenue 2016: $117,999Expenses 2016: $117,999Net Income 2016: $02016Revenue 2017: $117,999Expenses 2017: $117,999Net Income 2017: $02017Revenue 2018: $117,999Expenses 2018: $117,999Net Income 2018: $02018Revenue 2019: $117,999Expenses 2019: $117,999Net Income 2019: $02019

Highlighted filing

2017

Revenue$117,999
Expenses$117,999
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$117,999
Mission and Program Overview

Mission

Technical assistance to low and moderate income housing projects.

Development services and technical assistance to low and moderate income housing projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$37,600,000$37,600,000→ $0
Pledges and Grants Receivable$11,799,862$11,799,862→ $0
Cash and Non-Interest-Bearing Accounts$1,799$1,799→ $0
Total Assets$49,401,661$49,401,661→ $0
Liabilities
Other Liabilities$11,801,962$11,801,962→ $0
Accounts Payable and Accrued Expenses$3,900$3,900→ $0
Total Liabilities$11,805,862$11,805,862→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$37,595,799$37,595,799→ $0
Total Net Assets Fund Balance$37,595,799$37,595,799→ $0
Total Liabilities and Net Assets / Fund Balance$49,401,661$49,401,661→ $0

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$37,600,000--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Victor PapaVice President$135,000$135,000

Board Members and Trustees

NameTitle
Alexa SewellPresident
Lee WarshavskySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$117,999
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$117,999
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$117,999
Total Revenue per Form 990
$117,999
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$117,999
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$117,999--$117,999
Total Functional Expenses$117,999$0$0$117,999

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$117,999
Total Expenses per Audited Statements$117,999
Total Expenses per Form 990$117,999
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lee WarshavskySee BelowCompensationNo$169,849
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Land Rights-mortgage Debt$11,799,862
Due to Settlement Housing Fund$2,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

Line 1a explanation - victor papa, as an officer, trustee and board member has two votes. The other board members have one vote each.

Form 990, Part VI, Section A, Line 2

Line 2 explanation - lee warshavshy is the son of fran levenson, a board member of a related tax-exempt organization.

Form 990, Part VI, Section A, Line 7A

Line 7a explanation - two bridges neighborhood council,inc. And settlement housing fund control the organization and have an equal voice in selecting and approving board members and ratifying all organizational activities.

Form 990, Part VI, Section A, Line 7B

Line 7b explanation - two bridges neighborhood council,inc. And settlement housing fund control the organization and have an equal voice in selecting and approving board members and ratifying all organizational activities.

Form 990, Part VI, Section B, Line 11B

Line 11b explanation - a draft of the form 990 is reviewed and authorized by a member of the board of directors prior to filing with the irs.

Form 990, Part VI, Section B, Line 15

Based on individual working experiences & education.

Form 990, Part VI, Section C, Line 18

The company's assets are encumbered by mortgages totaling $11,799,862. The mortgages are the responsibility of the donor as part of the overall debt on the property.

Form 990, Part VI, Section C, Line 19

The organization 's governing documents and policies are available for public inspection at the organization's office during regular business hours upon request. The documents are also filed with the new york state division of corporations, and are available upon request.

Filing and Contact Details

Filer

Filer Name
Two Bridgeset Housing
EIN
13-3686755
Phone
2122656530
Address
247 W37TH STREET4TH FLOOR, NEW YORK, NY 10018

Signing Officer

Name
Alexa Sewell
Title
President
Phone
2122656530
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Warshavsky
Formed
1992
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Berdon Llp
Address
360 MADISON AVE, NEW YORK, NY 10017
Preparer
Joan Fox-bannerman
Phone
2128320400
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Management has determined that the organization had no uncertain tax positions that would require financial statement recognition. The organization is no longer subject to income tax examination by the us federal and state tax authorities for years before 2014, which is the standard statue of limitations look-back period.

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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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SEE BELOW
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0169849
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0COMPENSATION
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0LEE WARSHAVSKY, THE SECRETARY OF TWO BRIDGESET HOUSING DEVELOPMENET COMPANY, INC., IS THE SON OF A BOARD MEMBER OF A RELATED ENTITY, AND RECEIVES A SALARY FROM THAT RELATED ENTITY.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV LINE 1
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 1A EXPLANATION - VICTOR PAPA, AS AN OFFICER, TRUSTEE AND BOARD MEMBER HAS TWO VOTES. THE OTHER BOARD MEMBERS HAVE ONE VOTE EACH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINE 2 EXPLANATION - LEE WARSHAVSHY IS THE SON OF FRAN LEVENSON, A BOARD MEMBER OF A RELATED TAX-EXEMPT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LINE 7A EXPLANATION - TWO BRIDGES NEIGHBORHOOD COUNCIL,INC. AND SETTLEMENT HOUSING FUND CONTROL THE ORGANIZATION AND HAVE AN EQUAL VOICE IN SELECTING AND APPROVING BOARD MEMBERS AND RATIFYING ALL ORGANIZATIONAL ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LINE 7B EXPLANATION - TWO BRIDGES NEIGHBORHOOD COUNCIL,INC. AND SETTLEMENT HOUSING FUND CONTROL THE ORGANIZATION AND HAVE AN EQUAL VOICE IN SELECTING AND APPROVING BOARD MEMBERS AND RATIFYING ALL ORGANIZATIONAL ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 11B EXPLANATION - A DRAFT OF THE FORM 990 IS REVIEWED AND AUTHORIZED BY A MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BASED ON INDIVIDUAL WORKING EXPERIENCES & EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPANY'S ASSETS ARE ENCUMBERED BY MORTGAGES TOTALING $11,799,862. THE MORTGAGES ARE THE RESPONSIBILITY OF THE DONOR AS PART OF THE OVERALL DEBT ON THE PROPERTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION 'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST. THE DOCUMENTS ARE ALSO FILED WITH THE NEW YORK STATE DIVISION OF CORPORATIONS, AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd7N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd8N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd9N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd10N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd11N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd12N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd13N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd14N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd15N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd16N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd17N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd18N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd19N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd20N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0133849582
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1133727272
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN2010057170
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN3943462782
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN4474657709
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN5133088328
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN6472518606
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN7464085594
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN15474636290
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN20475321215
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd14NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd15NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd16NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd17NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd18NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd19NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd20NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt6LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt7LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt9LOW INCOME HOUSING

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