Civic Intelligence

2044 Seventh Avenue Housing Development Fund Corporation

990 • Fiscal year 2018 • EIN 13-3740487

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 09, 2019

Organization Profile
2044 7th AveNew York, NY 10027

(212) 360-6442

Siviq Scores

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

Liabilities / Assets

78th percentile

1.18x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

68th percentile

8.32x

Higher debt load relative to revenue than 68% of similar nonprofits.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2018

Net Margin

37th percentile

-32%

Higher net margin than 37% of similar nonprofits.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2018

Asset Growth

49th percentile

-2.5%

Faster asset growth than 49% of similar nonprofits.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

28th percentile

-3.2%

Faster revenue growth than 28% of similar nonprofits.

2018 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$1,687,290

Down $43,887 (-2.5%) from 2017

Net Assets

Down

-$299,490

Down $76,746 (-34%) from 2017

Liabilities

Up

$1,986,780

Up $32,859 (+1.7%) from 2017

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin37th percentile

Revenue

Down

$238,861

Down $7,880 (-3.2%) from 2017

Expenses

Down

$315,607

Down $57,664 (-15%) from 2017

Net Income

Up

-$76,746

Up $49,784 (+39%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2015: $1,881,826Liabilities 2015: $1,915,883Net Assets 2015: -$34,0572015Assets 2016: $1,818,073Liabilities 2016: $1,914,287Net Assets 2016: -$96,2142016Assets 2017: $1,731,177Liabilities 2017: $1,953,921Net Assets 2017: -$222,7442017Assets 2018: $1,687,290Liabilities 2018: $1,986,780Net Assets 2018: -$299,4902018Assets 2019: $1,752,122Liabilities 2019: $2,041,108Net Assets 2019: -$288,9862019Assets 2020: $1,703,863Liabilities 2020: $1,987,707Net Assets 2020: -$283,8442020Assets 2021: $1,702,936Liabilities 2021: $2,041,210Net Assets 2021: -$338,2742021Assets 2022: $1,569,917Liabilities 2022: $2,123,880Net Assets 2022: -$553,9632022Assets 2023: $1,530,373Liabilities 2023: $2,237,040Net Assets 2023: -$706,6672023Assets 2024: $1,475,058Liabilities 2024: $2,457,473Net Assets 2024: -$982,4152024

Highlighted filing

2018

Assets$1,687,290
Liabilities$1,986,780
Net Assets-$299,490
Open 2018 Filing

Operations Trend

Revenue Growth28th percentile

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

$1.0M$500K$0-$500KRevenue 2015: $328,925Expenses 2015: $371,192Net Income 2015: -$42,2672015Revenue 2016: $296,126Expenses 2016: $358,283Net Income 2016: -$62,1572016Revenue 2017: $246,741Expenses 2017: $373,271Net Income 2017: -$126,5302017Revenue 2018: $238,861Expenses 2018: $315,607Net Income 2018: -$76,7462018Revenue 2019: $380,491Expenses 2019: $369,987Net Income 2019: $10,5042019Revenue 2020: $385,807Expenses 2020: $380,665Net Income 2020: $5,1422020Revenue 2021: $346,744Expenses 2021: $401,174Net Income 2021: -$54,4302021Revenue 2022: $242,311Expenses 2022: $389,134Net Income 2022: -$146,8232022Revenue 2023: $284,232Expenses 2023: $436,936Net Income 2023: -$152,7042023Revenue 2024: $310,706Expenses 2024: $586,454Net Income 2024: -$275,7482024

Highlighted filing

2018

Revenue$238,861
Expenses$315,607
Net Income-$76,746
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 9, 2019
Return Version
2018v3.1
Gross Receipts
$238,861
Mission and Program Overview

Mission

The corporation is organized exclusively for the charitable purpose of owning, constructing, rehabilitation, leasing, managing, equipping, maintaining, developing and operating a housing project for persons of low income and needy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,162,063$1,098,286▼ $63,777
Cash and Non-Interest-Bearing Accounts$3,693$29,584▲ $25,891
Accounts Receivable$2,979$3,528▲ $549
Prepaid Expenses and Deferred Charges$770$1,405▲ $635
Total Assets$1,731,177$1,687,290▼ $43,887
Other Assets Total$561,672$554,487▼ $7,185
Liabilities
Unsecured Notes Loans Payable$1,754,168$1,754,168→ $0
Other Liabilities$108,020$140,547▲ $32,527
Accounts Payable and Accrued Expenses$91,733$92,065▲ $332
Total Liabilities$1,953,921$1,986,780▲ $32,859
Net Assets / Fund Balance
Unrestricted Net Assets$-222,744$-299,490▼ $76,746
Total Net Assets Fund Balance$-222,744$-299,490▼ $76,746
Total Liabilities and Net Assets / Fund Balance$1,731,177$1,687,290▼ $43,887

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$101,008--
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
Reverend Reginald WilliamsPresident
Leon EllisSecretary
Asia BurgosSignature of
Minister Eli HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$224,029
Investment Income
$7,120
Other Revenue
$7,712
Change in Net Assets
$-76,746
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$287,639
Salaries, Compensation, and Employee Benefits$27,968
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$63,777--$63,777
All Other Expenses$33,195--$33,195
Other Salaries and Wages$27,968--$27,968
Insurance$19,694--$19,694
Fees for Services Management$18,017--$18,017
Other Expenses$13,952--$13,952
Fees for Services Accounting$9,000--$9,000
Fees for Services Legal$2,600--$2,600
Office Expenses$755--$755
Total Functional Expenses$315,607$0$0$315,607
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 Arc$100,000
Other Payables$26,676
Prepaid Rent$13,871
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
2044 7th Avenue Housing Development
EIN
13-3740487
Phone
2123606442
Address
2044 7TH AVE, NEW YORK, NY 10027
Doing Business As
2044 7th Ave Hdfc

Signing Officer

Name
Asia Burgos
Title
Signature Officer
Phone
2123606442
Signed
2019-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reverend Reginald Williams
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Theodore Vargas
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is organized exclusively for the charitable purpose of owning, constructing, rehabilitation, leasing, managing, equipping, maintaining, developing and operating a housing project for persons of low income and needy.”

Form 990, Part IX, Line 24E

“Other operating exp. 12,917 0 0 licenses, permits & insp. 5,329 0 0 exterminating 4,625 0 0 bad debts 3,620 0 0 telephone 1,958 0 0 supplies 1,871 0 0 financial expenses 1,309 0 0 other administrative exp. 1,122 0 0 painting 444 0 0 total 33,195 0 0”

Raw XML Appendix332 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.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE CHARITABLE PURPOSE OF OWNING, CONSTRUCTING, REHABILITATION, LEASING, MANAGING, EQUIPPING, MAINTAINING, DEVELOPING AND OPERATING A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER OPERATING EXP. 12,917 0 0 LICENSES, PERMITS & INSP. 5,329 0 0 EXTERMINATING 4,625 0 0 BAD DEBTS 3,620 0 0 TELEPHONE 1,958 0 0 SUPPLIES 1,871 0 0 FINANCIAL EXPENSES 1,309 0 0 OTHER ADMINISTRATIVE EXP. 1,122 0 0 PAINTING 444 0 0 TOTAL 33,195 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
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ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,687,290
Liabilities
$1,986,780
Net assets
-$299,490
Revenue
$238,861
Expenses
$315,607
Net income
-$76,746
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.48$2.46$0.98$0.31$0.59$0.28
2023Detailed filing. Detailed filing data is available for this year.$1.53$2.24$0.71$0.28$0.44$0.15
2022Detailed filing. Detailed filing data is available for this year.$1.57$2.12$0.55$0.24$0.39$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.70$2.04$0.34$0.35$0.40$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.70$1.99$0.28$0.39$0.38$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.75$2.04$0.29$0.38$0.37$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.69$1.99$0.30$0.24$0.32$0.08
2017Detailed filing. Detailed filing data is available for this year.$1.73$1.95$0.22$0.25$0.37$0.13
2016Detailed filing. Detailed filing data is available for this year.$1.82$1.91$0.10$0.30$0.36$0.06
2015Summary only. Only limited summary data is available for this year.$1.88$1.92$0.03$0.33$0.37$0.04