Civic Intelligence

Concorse Gardens Housing Development Fund Company Inc.

990 • Fiscal year 2013 • EIN 13-3696061

Jul 01, 2012 to Jun 30, 2013 • Filed on Apr 23, 2014

Organization ProfileWWW.NYFSC.ORG
11 Park Place No 1416New York, NY 10007
Siviq Scores

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

Liabilities / Assets

98th percentile

1.43x

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

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

96th percentile

11.43x

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

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

10th percentile

-26%

Higher net margin than 10% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

19th percentile

-4.2%

Faster asset growth than 19% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$7,241,208

Down $316,250 (-4.2%) from 2012

Net Assets

Down

-$3,085,383

Down $238,733 (-8.4%) from 2012

Liabilities

Down

$10,326,591

Down $77,517 (-0.7%) from 2012

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin10th percentile

Revenue

$903,226

No earlier filing loaded for comparison.

Expenses

Down

$1,141,959

Down $56,483 (-4.7%) from 2012

Net Income

-$238,733

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $7,946,722Liabilities 2010: $10,329,678Net Assets 2010: -$2,382,9562010Assets 2011: $7,731,402Liabilities 2011: $10,411,521Net Assets 2011: -$2,680,1192011Assets 2012: $7,557,458Liabilities 2012: $10,404,108Net Assets 2012: -$2,846,6502012Assets 2013: $7,241,208Liabilities 2013: $10,326,591Net Assets 2013: -$3,085,3832013Assets 2014: $6,935,640Liabilities 2014: $10,349,622Net Assets 2014: -$3,413,9822014Assets 2015: $6,701,291Liabilities 2015: $10,392,663Net Assets 2015: -$3,691,3722015Assets 2016: $6,451,171Liabilities 2016: $10,381,394Net Assets 2016: -$3,930,2232016Assets 2017: $6,272,953Liabilities 2017: $10,402,335Net Assets 2017: -$4,129,3822017Assets 2018: $6,032,993Liabilities 2018: $10,420,752Net Assets 2018: -$4,387,7592018Assets 2019: $5,658,392Liabilities 2019: $10,405,817Net Assets 2019: -$4,747,4252019Assets 2020: $5,983,411Liabilities 2020: $10,649,366Net Assets 2020: -$4,665,9552020Assets 2021: $6,125,545Liabilities 2021: $10,535,203Net Assets 2021: -$4,409,6582021Assets 2022: $5,972,844Liabilities 2022: $10,530,329Net Assets 2022: -$4,557,4852022Assets 2023: $6,344,175Liabilities 2023: $10,700,369Net Assets 2023: -$4,356,1942023Assets 2024: $6,596,094Liabilities 2024: $10,964,320Net Assets 2024: -$4,368,2262024

Highlighted filing

2013

Assets$7,241,208
Liabilities$10,326,591
Net Assets-$3,085,383
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,010,0302010Expenses 2011: $1,145,6762011Expenses 2012: $1,198,4422012Revenue 2013: $903,226Expenses 2013: $1,141,959Net Income 2013: -$238,7332013Revenue 2014: $905,475Expenses 2014: $1,234,077Net Income 2014: -$328,6022014Revenue 2015: $1,030,477Expenses 2015: $1,307,867Net Income 2015: -$277,3902015Revenue 2016: $1,071,979Expenses 2016: $1,310,830Net Income 2016: -$238,8512016Revenue 2017: $1,121,879Expenses 2017: $1,321,038Net Income 2017: -$199,1592017Revenue 2018: $1,165,167Expenses 2018: $1,423,544Net Income 2018: -$258,3772018Revenue 2019: $1,147,697Expenses 2019: $1,507,363Net Income 2019: -$359,6662019Revenue 2020: $1,734,177Expenses 2020: $1,652,707Net Income 2020: $81,4702020Revenue 2021: $1,915,994Expenses 2021: $1,659,697Net Income 2021: $256,2972021Revenue 2022: $1,528,911Expenses 2022: $1,676,738Net Income 2022: -$147,8272022Revenue 2023: $2,006,659Expenses 2023: $1,805,368Net Income 2023: $201,2912023Revenue 2024: $1,972,254Expenses 2024: $1,984,286Net Income 2024: -$12,0322024

Highlighted filing

2013

Revenue$903,226
Expenses$1,141,959
Net Income-$238,733
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
Apr 23, 2014
Return Version
2012v2.1
Gross Receipts
$903,226
Mission and Program Overview

Mission

Developing, constructing and operating housing and related facilities for the elderly and handicapped.

Filing and Contact Details

Filer

EIN
13-3696061
Raw XML AppendixShowing 400 of 649 raw XML fields

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IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs1206502
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IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs00
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0CONCOURSE GARDENS HDFC DOES NOT PROVIDE COMPENSATION TO ANY OF ITS TOP MANAGEMENT OFFICIALS. THE SALARY PAID TO THE CFO AND CEO IS PAID BY NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC., A RELATED ORGANIZATION. THE FOLLOWING IS THEIR COMPENSATION POLICY. NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. HAS ESTABLISHED A WRITTEN COMPENSATION POLICY FOR THEIR COMPENSATION COMMITTEE TO FOLLOW IN ESTABLISHING THE COMPENSATION FOR THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIAL, OTHER OFFICERS OR KEY EMPLOYEES. THE POLICY MANDATES THAT EXECUTIVE COMPENSATION BE REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE AND THAT THE COMMITTEE SHOULD BE FREE OF CONFLICTS OF INTEREST. IN ADDITION, THE APPROVING COMPENSATION COMMITTEE NEEDS TO REVIEW APPROPRIATE AND ADEQUATE DATA TO DETERMINE THE REASONABLENESS OF COMPENSATION BEING CONSIDERED. THE COMPENSATION COMMITTEE USES A VARIETY OF INFORMATION AND STUDIES THAT ARE AVAILABLE TO DETERMINE THAT THE APPROPRIATE LEVEL OF COMPENSATION IS BEING PAID TO ITS EXECUTIVES. IN JUNE 2012, THE COMPENSATION COMMITTEE OF NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. ENGAGED AN OUTSIDE CONSULTING FIRM TO CONDUCT AN EXECUTIVE COMPENSATION STUDY WHICH INCLUDED A MARKET EVALUATION OF THE TOP FIVE POSITIONS WITHIN THE ORGANIZATION. THE COMPENSATION COMMITTEE'S DECISION ON THE AMOUNT OF COMPENSATION PAID IS REQUIRED TO BE ADEQUATELY DOCUMENTED IN A CONTEMPORANEOUSLY WRITTEN FORMAT AND SHOULD DOCUMENT THE DATE OF THE DECISION, THE MEMBERS PRESENT DURING THE DECISION AND THOSE WHO VOTED ON IT, THE FULL TERMS OF THE TRANSACTION THAT WAS APPROVED AND THE COMPARABLE DATA USED AND RELIED UPON TO MAKE THE DECISION. THE COMPENSATION REVIEW PROCESS FOR THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIAL, OTHER OFFICERS OR KEY EMPLOYEES WAS LAST UNDERTAKEN IN JUNE 2013.
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0PART I, LINE 3
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0LINDA R HOFFMAN
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson1MARTHA BAUER
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IRS990ScheduleJ/Form990ScheduleJPartII/Title0CHIEF EXECUTIVE OFFICER
IRS990ScheduleJ/Form990ScheduleJPartII/Title1CHIEF FINANCIAL OFFICER
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg10
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IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs1239395
IRS990ScheduleJ/InitialContractException00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
IRS990ScheduleO/GeneralExplanation/Explanation0THE PROJECT PURCHASES MANAGEMENT SERVICES FROM ITS SPONSOR, NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC., A RELATED ENTITY. THESE FEES ARE CHARGEABLE UP TO A MAXIMUM HUD ALLOWABLE RATE OF $53 PER UNIT PER MONTH. THE MANAGEMENT FEES INCURRED DURING THE YEAR ENDED JUNE 30, 2013 AMOUNTED TO $75,684. MANAGEMENT FEES OUTSTANDING AT JUNE 30, 2012 WERE $24,684. THE MANAGEMENT COMPANY MANAGES THE BUILDING. THEY COLLECT RENT, PAY BILLS, OVERSEE THE MAINTENANCE OF THE BUILDING AND RE-CERTIFY TENANTS ANNUALLY TO INSURE COMPLIANCE WITH HUD REQUIREMENTS. PLEASE REFER TO PART VII AS, LINDA HOFFMAN AND MARTHA BAUER ARE COMPENSATED BY THE RELATED ENTITY.
IRS990ScheduleO/GeneralExplanation/Explanation1CONCOURSE GARDENS HDFC, INC. 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 MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, ITS SUBMITTED ELECTRONICALLY TO A REPRESENTATIVE MEMBER OF THE ORGANIZATION'S GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH ONE WEEK TO REVIEW THE PREPARED FORM 990 AND PROVIDE THEIR COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE MANAGEMENT COMMITTEE IN CHARGE OF FILING THE RETURN FOR THEIR REVIEW. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/GeneralExplanation/Explanation2CONCOURSE GARDENS HDFC, INC. CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT ANNUALLY MONITORS AND ENFORCES. THE BOARD CURRENTLY MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST POLICY IS SUBMITTED TO THE CORPORATE COMPLIANCE OFFICER WHO REVIEWS THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFLICTS. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, THE CORPORATE COMPLIANCE OFFICER WILL NOTIFY A MEMBER OF MANAGEMENT OR THE GOVERNING BODY ABOUT SUCH CONFLICT AND INVESTIGATE THE CONFLICT. THE RESULTS OF THE INVESTIGATION WILL BE SUMMARIZED AND DOCUMENTED BY THE CORPORATE COMPLIANCE OFFICER AND BE REPORTED TO THE GOVERNING BODY. IF THE CORPORATE COMPLIANCE OFFICER ESTABLISHES THAT AN ACTUAL CONFLICT EXISTS, THE MEMBER OF MANAGEMENT OR THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THERE IS NO LONGER A CONFLICT.
IRS990ScheduleO/GeneralExplanation/Explanation3CONCOURSE GARDENS HDFC, INC. MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO 11 PARK PLACE, SUITE 1416, NEW YORK, NY, 10007 OR BY CALLING THE ORGANIZATION DIRECTLY AT (212) 962-7653.
IRS990ScheduleO/GeneralExplanation/Explanation4MAINTENANCE CONTRACTS: PROGRAM SERVICE EXPENSES 39,586. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,586. SECURITY: PROGRAM SERVICE EXPENSES 108,652. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 108,652.
IRS990ScheduleO/GeneralExplanation/Explanation5CONCOURSE GARDENS HDFC, INC. HAS A COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation6BOARD MEMBER ELIZABETH F. TOZER RECEIVES NO COMPENSATION IN HER CAPACITY AS BOARD MEMBER AND OFFICER. SHE DOES RECEIVE COMPENSATION IN HER CAPACITY AS INTERIOR DESIGN CONSULTANT TO NYFSC, INC., A RELATED ORGANIZATION.
IRS990ScheduleO/GeneralExplanation/Identifier0OTHER FEES
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART XI, LINE 2C:
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART VII: EXPLANATION OF PAYMENT TO ELIZABETH F. TOZER
IRS990/ScheduleORequired01
IRS990ScheduleR/DividendsRelatedOrganization00
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1011 PARK PLACE SUITE 1416
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1111 PARK PLACE SUITE 1416
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1211 PARK PLACE SUITE 1416

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$7,241,208
Liabilities
$10,326,591
Net assets
-$3,085,383
Revenue
$903,226
Expenses
$1,141,959
Net income
-$238,733
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.60$11.0$4.37$1.97$1.98$0.01
2023Detailed filing. Detailed filing data is available for this year.$6.34$10.7$4.36$2.01$1.81$0.20
2022Detailed filing. Detailed filing data is available for this year.$5.97$10.5$4.56$1.53$1.68$0.15
2021Detailed filing. Detailed filing data is available for this year.$6.13$10.5$4.41$1.92$1.66$0.26
2020Detailed filing. Detailed filing data is available for this year.$5.98$10.6$4.67$1.73$1.65$0.08
2019Detailed filing. Detailed filing data is available for this year.$5.66$10.4$4.75$1.15$1.51$0.36
2018Detailed filing. Detailed filing data is available for this year.$6.03$10.4$4.39$1.17$1.42$0.26
2017Detailed filing. Detailed filing data is available for this year.$6.27$10.4$4.13$1.12$1.32$0.20
2016Detailed filing. Detailed filing data is available for this year.$6.45$10.4$3.93$1.07$1.31$0.24
2015Detailed filing. Detailed filing data is available for this year.$6.70$10.4$3.69$1.03$1.31$0.28
2014Detailed filing. Detailed filing data is available for this year.$6.94$10.3$3.41$0.91$1.23$0.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.24$10.3$3.09$0.90$1.14$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.56$10.4$2.85$1.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.73$10.4$2.68$1.15
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.95$10.3$2.38$1.01
Peer Organizations

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