Civic Intelligence

Casella Houses Housing Development Fund Corporation

990 • Fiscal year 2018 • EIN 13-3692875

Oct 01, 2017 to Sep 30, 2018 • Filed on Jul 24, 2019

Organization ProfileN/A
1945 Vyse AvenueBronx, NY 10460

(718) 842-6440

Siviq Scores

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

Liabilities / Assets

95th percentile

1.26x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

3.57x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

50th percentile

3.1%

Higher net margin than 50% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

94th percentile

$288,817

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 31.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

46th percentile

0.1%

Faster asset growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

40th percentile

0.3%

Faster revenue growth than 40% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$2,586,205

Up $1,897 (+0.1%) from 2017

Net Assets

Up

-$662,560

Up $25,483 (+3.7%) from 2017

Liabilities

Down

$3,248,765

Down $23,586 (-0.7%) from 2017

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin50th percentile

Revenue

Up

$910,646

Up $3,058 (+0.3%) from 2017

Expenses

Up

$882,689

Up $24,865 (+2.9%) from 2017

Net Income

Down

$27,957

Down $21,807 (-44%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $2,765,478Liabilities 2011: $3,381,691Net Assets 2011: -$616,2132011Assets 2012: $2,520,802Liabilities 2012: $3,472,689Net Assets 2012: -$951,8872012Assets 2013: $2,611,014Liabilities 2013: $3,604,562Net Assets 2013: -$993,5482013Assets 2014: $2,387,839Liabilities 2014: $3,458,589Net Assets 2014: -$1,070,7502014Assets 2015: $2,487,546Liabilities 2015: $3,304,608Net Assets 2015: -$817,0622015Assets 2016: $2,541,831Liabilities 2016: $3,279,414Net Assets 2016: -$737,5832016Assets 2017: $2,584,308Liabilities 2017: $3,272,351Net Assets 2017: -$688,0432017Assets 2018: $2,586,205Liabilities 2018: $3,248,765Net Assets 2018: -$662,5602018Assets 2019: $2,723,745Liabilities 2019: $3,306,360Net Assets 2019: -$582,6152019Assets 2020: $2,663,907Liabilities 2020: $3,340,076Net Assets 2020: -$676,1692020Assets 2021: $2,787,148Liabilities 2021: $3,396,193Net Assets 2021: -$609,0452021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$2,586,205
Liabilities$3,248,765
Net Assets-$662,560
Open 2018 Filing

Operations Trend

Revenue Growth40th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $966,1632011Expenses 2012: $1,236,4972012Revenue 2013: $931,983Expenses 2013: $972,382Net Income 2013: -$40,3992013Revenue 2014: $936,171Expenses 2014: $977,623Net Income 2014: -$41,4522014Revenue 2015: $1,093,156Expenses 2015: $837,277Net Income 2015: $255,8792015Revenue 2016: $960,241Expenses 2016: $880,213Net Income 2016: $80,0282016Revenue 2017: $907,588Expenses 2017: $857,824Net Income 2017: $49,7642017Revenue 2018: $910,646Expenses 2018: $882,689Net Income 2018: $27,9572018Revenue 2019: $952,660Expenses 2019: $876,464Net Income 2019: $76,1962019Revenue 2020: $869,784Expenses 2020: $966,026Net Income 2020: -$96,2422020Revenue 2021: $943,800Expenses 2021: $872,936Net Income 2021: $70,8642021Revenue 2022: $216,024Expenses 2022: $455,486Net Income 2022: -$239,4622022

Highlighted filing

2018

Revenue$910,646
Expenses$882,689
Net Income$27,957
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jul 24, 2019
Return Version
2017v2.3
Gross Receipts
$910,646
Mission and Program Overview

Mission

To provide safe, clean, affordable housing to low and moderate income families located in the south bronx, ny.

To provide low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,454,154$1,373,556▼ $80,598
Cash and Non-Interest-Bearing Accounts$750,178$791,731▲ $41,553
Accounts Receivable$104,498$151,647▲ $47,149
Prepaid Expenses and Deferred Charges$89,930$88,924▼ $1,006
Investments in Publicly Traded Securities$72,368$71,175▼ $1,193
Total Assets$2,584,308$2,586,205▲ $1,897
Other Assets Total$113,180$109,172▼ $4,008
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,145,000$3,145,000→ $0
Escrow Account Liability$45,051$43,660▼ $1,391
Accounts Payable and Accrued Expenses$61,806$42,271▼ $19,535
Deferred Revenue$16,902$10,911▼ $5,991
Other Liabilities$3,592$6,923▲ $3,331
Total Liabilities$3,272,351$3,248,765▼ $23,586
Net Assets / Fund Balance
Unrestricted Net Assets$-688,043$-662,560▲ $25,483
Total Net Assets Fund Balance$-688,043$-662,560▲ $25,483
Total Liabilities and Net Assets / Fund Balance$2,584,308$2,586,205▲ $1,897

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,373,551$1,832,549$3,206,100
Equipment-$68,614$68,614
Land$5-$5
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleBaseOtherTotal
Jason BoroffVice Chairpe$30,369$258,448$288,817
Steven SeltzerExecutive Di-$141,694$141,694
Gaudi MendozaController-$79,326$79,326
Jason BoroffVice Chairperson-$30,369$30,369

Board Members and Trustees

NameTitle
Valerie TorresChairperson
Salvatore GiganteMember
Evelyn VelasquezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$905,780
Investment Income
$1,381
Other Revenue
$3,485
Change in Net Assets
$27,957

Audited Revenue Reconciliation

Revenue per Audited Statements
$910,646
Total Revenue per Audited Statements
$910,646
Total Revenue per Form 990
$910,646
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$759,518
Salaries, Compensation, and Employee Benefits$123,171
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$218,532--$218,532
Insurance$120,477--$120,477
Depreciation Depletion$80,598--$80,598
Other Salaries and Wages$73,816--$73,816
Fees for Services Management$70,179--$70,179
Other Employee Benefits$42,712--$42,712
Fees for Services Legal$32,895--$32,895
All Other Expenses$11,588--$11,588
Fees for Services Accounting-$7,800-$7,800
Payroll Taxes$6,643--$6,643
Other Expenses$6,623--$6,623
Fees for Services Other$389--$389
Total Functional Expenses$874,889$7,800$0$882,689

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$882,689
Total Expenses per Audited Statements$882,689
Total Expenses per Form 990$882,689
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
Due to Affiliates$6,923
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
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 reported is complete and accurate. When the form 990 has been prepared, reviewed by the controller and is ready to be filed with the internal revenue service it is electronically sent to the board 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 also available upon written request or by calling the organization directly.”

Filing and Contact Details

Filer

Filer Name
Casella Houses Housing Development
EIN
13-3692875
Phone
7188426440
Address
1945 VYSE AVENUE, BRONX, NY 10460

Signing Officer

Name
Gaudi Mendoza
Title
Controller
Phone
7188426440
Signed
2019-07-24

Organization Details

Principal Officer
Valerie Torres
Formed
1996
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
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.”

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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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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 REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE CONTROLLER AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE IT IS ELECTRONICALLY SENT TO THE BOARD 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 ALSO 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/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
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0HOB II INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1HEART OF THE BRONX MANAGEMENT CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt21965 VYSE AVENUE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3CRISUOLO CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4J RAVEN CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5ELSMERE CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6938 EAST TREMONT CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7SOSA CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8871 EAST 179TH STREET

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,586,205
Liabilities
$3,248,765
Net assets
-$662,560
Revenue
$910,646
Expenses
$882,689
Net income
$27,957
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.22$0.46$0.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$3.40$0.61$0.94$0.87$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.66$3.34$0.68$0.87$0.97$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.72$3.31$0.58$0.95$0.88$0.08
2018Detailed filing. Detailed filing data is available for this year.$2.59$3.25$0.66$0.91$0.88$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$3.27$0.69$0.91$0.86$0.05
2016Summary only. Only limited summary data is available for this year.$2.54$3.28$0.74$0.96$0.88$0.08
2015Summary only. Only limited summary data is available for this year.$2.49$3.30$0.82$1.09$0.84$0.26
2014Summary only. Only limited summary data is available for this year.$2.39$3.46$1.07$0.94$0.98$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$3.60$0.99$0.93$0.97$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$3.47$0.95$1.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$3.38$0.62$0.97