Civic Intelligence

Hire Housing Development

EIN 13-3693602 • 501(c)3 • New York, NY

Profile

The company owns a building that contains 40 apartment units located in the bronx, new york. The company leases all the units to homeless persons with aids or hiv-related illnesses.

462 7th Avenue 3rd FLNew York, NY 10018

n/A

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.39x

Higher debt load relative to assets than 92% of similar nonprofits.

NTEE Z • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

7.52x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

4th percentile

-92%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

99th percentile

$616,984

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 157.8% of source-year revenue.

NTEE Z • $1M-$5M nonprofits • Source year 2024

Asset Growth

28th percentile

-3.4%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-7.6%

Faster revenue growth than 26% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$2,115,797

Down $73,873 (-3.4%) from 2023

Liabilities

Up

$2,940,101

Up $284,768 (+11%) from 2023

Net Assets

Down

-$824,304

Down $358,641 (-77%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin4th percentile

Revenue

Down

$391,106

Down $32,224 (-7.6%) from 2023

Expenses

Up

$749,747

Up $260,442 (+53%) from 2023

Net Income

Down

-$358,641

Down $292,666 (-444%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,889,160Liabilities 2011: $2,903,057Net Assets 2011: -$13,8972011Assets 2012: $2,929,075Liabilities 2012: $2,988,116Net Assets 2012: -$59,0412012Assets 2013: $2,805,515Liabilities 2013: $2,861,057Net Assets 2013: -$55,5422013Assets 2014: $2,711,018Liabilities 2014: $2,755,349Net Assets 2014: -$44,3312014Assets 2015: $2,604,592Liabilities 2015: $2,633,926Net Assets 2015: -$29,3342015Assets 2016: $2,578,279Liabilities 2016: $2,607,832Net Assets 2016: -$29,5532016Assets 2017: $2,330,164Liabilities 2017: $2,390,940Net Assets 2017: -$60,7762017Assets 2018: $2,345,888Liabilities 2018: $2,402,227Net Assets 2018: -$56,3392018Assets 2019: $2,267,356Liabilities 2019: $2,380,538Net Assets 2019: -$113,1822019Assets 2020: $2,208,195Liabilities 2020: $2,410,354Net Assets 2020: -$202,1592020Assets 2021: $2,088,636Liabilities 2021: $2,402,305Net Assets 2021: -$313,6692021Assets 2022: $2,111,982Liabilities 2022: $2,481,670Net Assets 2022: -$369,6882022Assets 2023: $2,189,670Liabilities 2023: $2,655,333Net Assets 2023: -$465,6632023Assets 2024: $2,115,797Liabilities 2024: $2,940,101Net Assets 2024: -$824,3042024

Highlighted filing

2024

Assets$2,115,797
Liabilities$2,940,101
Net Assets-$824,304
Open 2024 Filing

Operations Trend

Revenue Growth26th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $747,877Expenses 2011: $736,698Net Income 2011: $11,1792011Expenses 2012: $430,4322012Revenue 2013: $429,742Expenses 2013: $427,137Net Income 2013: $2,6052013Revenue 2014: $445,193Expenses 2014: $441,206Net Income 2014: $3,9872014Revenue 2015: $425,721Expenses 2015: $378,993Net Income 2015: $46,7282015Revenue 2016: $439,600Expenses 2016: $443,413Net Income 2016: -$3,8132016Revenue 2017: $418,968Expenses 2017: $447,405Net Income 2017: -$28,4372017Revenue 2018: $449,594Expenses 2018: $445,157Net Income 2018: $4,4372018Revenue 2019: $454,871Expenses 2019: $500,798Net Income 2019: -$45,9272019Revenue 2020: $446,789Expenses 2020: $507,516Net Income 2020: -$60,7272020Revenue 2021: $421,988Expenses 2021: $513,564Net Income 2021: -$91,5762021Revenue 2022: $442,093Expenses 2022: $476,481Net Income 2022: -$34,3882022Revenue 2023: $423,330Expenses 2023: $489,305Net Income 2023: -$65,9752023Revenue 2024: $391,106Expenses 2024: $749,747Net Income 2024: -$358,6412024

Highlighted filing

2024

Revenue$391,106
Expenses$749,747
Net Income-$358,641
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,115,797
Liabilities
$2,940,101
Net assets
-$824,304
Revenue
$391,106
Expenses
$749,747
Net income
-$358,641
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.12$2.94$0.82$0.39$0.75$0.36
2023Detailed filing. Detailed filing data is available for this year.$2.19$2.66$0.47$0.42$0.49$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.11$2.48$0.37$0.44$0.48$0.03
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.09$2.40$0.31$0.42$0.51$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.21$2.41$0.20$0.45$0.51$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.27$2.38$0.11$0.45$0.50$0.05
2018Detailed filing. Detailed filing data is available for this year.$2.35$2.40$0.06$0.45$0.45$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.33$2.39$0.06$0.42$0.45$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.58$2.61$0.03$0.44$0.44$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.60$2.63$0.03$0.43$0.38$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.71$2.76$0.04$0.45$0.44$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$2.86$0.06$0.43$0.43$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.93$2.99$0.06$0.43
2011Summary only. Only limited summary data is available for this year.$2.89$2.90$0.01$0.75$0.74$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$391,106
Mission and Program Overview

Mission

The company owns a building that contains 40 apartment units located in the bronx, new york. The company leases all the units to homeless persons with aids or hiv-related illnesses.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$720,661$823,929▲ $103,268
Accounts Receivable$98,664$121,728▲ $23,064
Intangible Assets$101,570$97,605▼ $3,965
Cash and Non-Interest-Bearing Accounts$13,423$38,479▲ $25,056
Prepaid Expenses and Deferred Charges$2,244$25,702▲ $23,458
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,189,670$2,115,797▼ $73,873
Other Assets Total$1,253,108$1,008,354▼ $244,754
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,298,805$2,298,805→ $0
Other Liabilities$167,825$585,709▲ $417,884
Accounts Payable and Accrued Expenses$184,999$46,687▼ $138,312
Deferred Revenue$3,704$8,900▲ $5,196
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,655,333$2,940,101▲ $284,768
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-465,663$-824,304▼ $358,641
Total Net Assets Fund Balance$-465,663$-824,304▼ $358,641
Total Liabilities and Net Assets / Fund Balance$2,189,670$2,115,797▼ $73,873

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$52,327$2,589,250$2,641,577
Leasehold Improvements$709,919$310,548$1,020,467
Other Land Buildings$27,988$14,374$42,362
Land$33,695-$33,695
Equipment$0$14,750$14,750
Other Assets Org$1,652--
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
Dr Rosa GilPresident
Henry KwongVice President
Carlos R PineiroVcp
Revenue and Support

Revenue Composition

Contributions and Grants
$26,923
Program Service Revenue
$305,304
Investment Income
$58,879
Other Revenue
$0
Change in Net Assets
$-358,641

Audited Revenue Reconciliation

Revenue per Audited Statements
$391,106
Total Revenue per Audited Statements
$391,106
Total Revenue per Form 990
$391,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$749,747
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
All Other Expenses$124,326--$124,326
Interest$83,720--$83,720
Depreciation Depletion$51,266--$51,266
Insurance$41,751--$41,751
Other Expenses$20,793--$20,793
Fees for Services Accounting-$18,680-$18,680
Fees for Services Other$11,584--$11,584
Office Expenses$3,669$25-$3,694
Fees for Services Legal$1,955--$1,955
Total Functional Expenses$731,042$18,705$0$749,747

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$749,747
Total Expenses per Audited Statements$749,747
Total Expenses per Form 990$749,747
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$475,236
Interest Payable$110,473
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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:

“Form 990 is reviewed by the members of the board before filing.”

FORM 990, PART VI SECTION B LINE 12C:

“Members of the board are given the opportunity to disclose any conflicts of interest annually and are required to sign an annual disclosure form.”

FORM 990, PART VI, SECTION B, LINE 15A:

“No compensation is paid to board members and officers of this corporation. However, the president/ceo is compensated by a related organization. The executive committee of the related organization meets annually to determine compensation. As well as, the services of an independent compensation consultant. The related organization provides resources for their use including information about best practices and comparability studies. The executive committee of the related company makes compensation recommendations to the board of directors of the related company.”

FORM 990, PART VI, SECTION C, LINE 19:

“The organization's governing documents, conflict of interest policy and financial statments are available at the administrative offices during regular business hours upon request. In addition, the organization timely files its annual report (nys char 500) with the new york state attorney general's (nysoag) office. The nysoag posts the annual report together with the organization's federal form 990 and its audited financial statements on the charities bureau website.”

Filing and Contact Details

Filer

Filer Name
Hire Housing Development
EIN
13-3693602
In Care Of
% MICHAEL O'DONNELL
Phone
2122191618
Address
462 7TH AVENUE 3RD FL, NEW YORK, NY 10018

Signing Officer

Name
Michael O'Donnell
Title
CEO
Phone
2122191618
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael O'Donnell
Formed
1992
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Withumsmithbrown Pc
Address
1411 BROADWAY 9TH FLOOR, NEW YORK, NY 10018
Preparer
James Huang CPA
Phone
2127519100
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“The company owns a building that contains 40 apartment units located in the bronx, new york. The company leases all the units to homeless persons with aids or hiv-related illnesses.”

FORM 990, PART XII, LINE 2C:

“Management and board of directors is responsible for oversight of the audit and selection of an independent accountant.”

Form 990 Part IX Line 24 - Other Expenses

“Description:security service total expenses:11680 program services:11680”

Form 990 Part IX Line 24 - Other Expenses

“Description:exterminating total expenses:7125 program services:7125”

Form 990 Part IX Line 24 - Other Expenses

“Description:water & sewer total expenses:47532 program services:47532”

Form 990 Part IX Line 24 - Other Expenses

“Description:utilities total expenses:57989 program services:57989”

Financial Statement Notes

Part X, Line 2

“The Corporation has tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Being a nonstock corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. Accounting principles generally accepted in the United States of America require evaluation of the tax positions taken or expected to be taken in the course of preparing the Corporation's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. There are no income tax related penalties or interest included in these financial statements. Should any such penalties and interest be incurred, the Corporation's policy would be to recognize them as operating expenses. The Corporation's federal and state tax returns for the fiscal years after 2020 remain subject to examination by the relevant taxing authorities.”

Raw XML AppendixShowing 400 of 788 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/ActivityOrMissionDesc0SEE SCHEDULE O
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IRS990/DescribedInSection501c3Ind0true
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IRS990/Form990PartVIISectionAGrp/PersonNm2Henry Kwong
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VCP
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990/MissionDesc0THE COMPANY OWNS A BUILDING THAT CONTAINS 40 APARTMENT UNITS LOCATED IN THE BRONX, NEW YORK. THE COMPANY LEASES ALL THE UNITS TO HOMELESS PERSONS WITH AIDS OR HIV-RELATED ILLNESSES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation has tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Being a nonstock corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. Accounting principles generally accepted in the United States of America require evaluation of the tax positions taken or expected to be taken in the course of preparing the Corporation's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. There are no income tax related penalties or interest included in these financial statements. Should any such penalties and interest be incurred, the Corporation's policy would be to recognize them as operating expenses. The Corporation's federal and state tax returns for the fiscal years after 2020 remain subject to examination by the relevant taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2
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