Civic Intelligence

Three West Housing Development Fund Company Inc.

990 • Fiscal year 2024 • EIN 13-3742293

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 13, 2025

Organization ProfileWWW.MVDC.ORG
73 West 108th StreetNew York, NY 10025

(212) 678-4410

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$1,240,880

Up $92,087 (+8.0%) from 2023

Net Assets

Up

-$105,655

Up $82,333 (+44%) from 2023

Liabilities

Up

$1,346,535

Up $9,754 (+0.7%) from 2023

Revenue And Expenses

Revenue

Up

$249,763

Up $29,981 (+14%) from 2023

Expenses

Down

$167,420

Down $27,217 (-14%) from 2023

Net Income

Up

$82,343

Up $57,198 (+227%) from 2023

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,047,408Liabilities 2010: $1,342,669Net Assets 2010: -$295,2612010Assets 2011: $985,152Liabilities 2011: $1,338,489Net Assets 2011: -$353,3372011Assets 2012: $976,575Liabilities 2012: $1,349,280Net Assets 2012: -$372,7052012Assets 2013: $989,554Liabilities 2013: $1,339,475Net Assets 2013: -$349,9212013Assets 2014: $1,006,863Liabilities 2014: $1,336,477Net Assets 2014: -$329,6142014Assets 2015: $1,055,756Liabilities 2015: $1,345,563Net Assets 2015: -$289,8072015Assets 2016: $1,100,069Liabilities 2016: $1,337,121Net Assets 2016: -$237,0522016Assets 2017: $1,167,253Liabilities 2017: $1,360,551Net Assets 2017: -$193,2982017Assets 2019: $1,154,690Liabilities 2019: $1,350,528Net Assets 2019: -$195,8382019Assets 2020: $1,116,092Liabilities 2020: $1,346,995Net Assets 2020: -$230,9032020Assets 2023: $1,148,793Liabilities 2023: $1,336,781Net Assets 2023: -$187,9882023Assets 2024: $1,240,880Liabilities 2024: $1,346,535Net Assets 2024: -$105,6552024Assets 2025: $1,274,604Liabilities 2025: $46,044Net Assets 2025: $1,228,5602025

Highlighted filing

2024

Assets$1,240,880
Liabilities$1,346,535
Net Assets-$105,655
Open 2024 Filing

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $198,6672010Expenses 2011: $212,5062011Revenue 2012: $171,199Expenses 2012: $190,568Net Income 2012: -$19,3692012Revenue 2013: $192,393Expenses 2013: $169,609Net Income 2013: $22,7842013Revenue 2014: $198,286Expenses 2014: $177,979Net Income 2014: $20,3072014Revenue 2015: $202,639Expenses 2015: $192,953Net Income 2015: $9,6862015Revenue 2016: $209,305Expenses 2016: $156,550Net Income 2016: $52,7552016Revenue 2017: $209,284Expenses 2017: $165,269Net Income 2017: $44,0152017Revenue 2019: $206,796Expenses 2019: $231,605Net Income 2019: -$24,8092019Revenue 2020: $203,567Expenses 2020: $239,952Net Income 2020: -$36,3852020Revenue 2023: $219,782Expenses 2023: $194,637Net Income 2023: $25,1452023Revenue 2024: $249,763Expenses 2024: $167,420Net Income 2024: $82,3432024Revenue 2025: $1,561,435Expenses 2025: $227,225Net Income 2025: $1,334,2102025

Highlighted filing

2024

Revenue$249,763
Expenses$167,420
Net Income$82,343
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 13, 2025
Return Version
2023v6.0
Gross Receipts
$249,763
Mission and Program Overview

Mission

To provide adequate low income housing for the manhattan valley area of manhattan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$222,506$254,073▲ $31,567
Savings and Temporary Cash Investments$101,608$101,628▲ $20
Cash and Non-Interest-Bearing Accounts$33,057$22,500▼ $10,557
Accounts Receivable$27,338$21,620▼ $5,718
Prepaid Expenses and Deferred Charges$7,823$1,099▼ $6,724
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,148,783$1,240,880▲ $92,097
Other Assets Total$756,451$839,960▲ $83,509
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,295,702$1,295,702→ $0
Accounts Payable and Accrued Expenses$18,661$30,769▲ $12,108
Other Liabilities$22,158$19,876▼ $2,282
Deferred Revenue$260$188▼ $72
Total Liabilities$1,336,781$1,346,535▲ $9,754
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-187,998$-105,655▲ $82,343
Total Net Assets Fund Balance$-187,998$-105,655▲ $82,343
Total Liabilities and Net Assets / Fund Balance$1,148,783$1,240,880▲ $92,097

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$1,188,624$1,188,624
Leasehold Improvements$123,305$42,923$166,228
Land$107,178-$107,178
Equipment$23,590$47,230$70,820
Other Assets Org$18,162--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John P DuffellPresident
Robin P BaezVice President
Sandra B PowersTreasurer/Secy
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$221,288
Investment Income
$28,475
Other Revenue
$0
Change in Net Assets
$82,343
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$167,420
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
Insurance$21,880--$21,880
Fees for Services Management-$17,971-$17,971
All Other Expenses$9,512$50-$9,562
Depreciation Depletion$8,832--$8,832
Fees for Services Legal$8,808--$8,808
Other Expenses$7,998--$7,998
Fees for Services Accounting-$7,000-$7,000
Fees for Services Other-$240-$240
Total Functional Expenses$142,159$25,261$0$167,420
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

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$18,414
Due to Affilate$1,462
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
CEO compensation reviewed
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization delegates control over management duties customarilyperformed by or under the direct supervision of officers directors, ortrustees, or key employees to a management company or other person.”

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

“The return is reviewed in detail by management and provided to the fullboard of directors for review.”

Form 990, Part VI, Section B, Line 12C

“We have distributed documents, whereby officers, directors and keyemployees will be requested to notify the organization of any interest thatcould give rise to conflict, and each member is asked to confirm at eachscheduled meeting.”

Form 990, Part VI, Section C, Line 19

“Individuals that want to review organization documents, policies andfinancial statements are asked to put their request in writing. A date isscheduled for the individual to review the requested items at our office at73 west 108th street, new york, ny, 10025.”

Filing and Contact Details

Filer

Filer Name
Three West Housing Development
EIN
13-3742293
Phone
2126784410
Address
73 WEST 108TH STREET, NEW YORK, NY 10025

Signing Officer

Name
Robin P Baez
Title
Vice President
Signed
2025-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robin P Baez
Formed
1993
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Davis Ward & Hochman LLP
Address
150 E 58th St 20TH Flr, New York, NY 10155
Preparer
David H Ward
Phone
2122302600
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The organization follows fasb asc 740, "income taxes," which provides standards for establishing and classifying any tax provisions for uncertain tax positions. The organization is no longer subject to federal or state income tax examinations by tax authorities for years before 2012.”

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0249763
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0196112
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0203567
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0649442
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01188624
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01188624
IRS990ScheduleD/EquipmentGrp/BookValueAmt023590
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047230
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt070820
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0107178
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0107178
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0123305
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt042923
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0166228
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0301190
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt113401
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt283516
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt318162
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01462
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118414
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS FASB ASC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0254073
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0839960
IRS990ScheduleD/TotalLiabilityAmt019876
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0126495
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt03715
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROBIN P BAEZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Vice President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0130210
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES CONTROL OVER MANAGEMENT DUTIES CUSTOMARILYPERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS DIRECTORS, ORTRUSTEES, OR KEY EMPLOYEES TO A MANAGEMENT COMPANY OR OTHER PERSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED IN DETAIL BY MANAGEMENT AND PROVIDED TO THE FULLBOARD OF DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WE HAVE DISTRIBUTED DOCUMENTS, WHEREBY OFFICERS, DIRECTORS AND KEYEMPLOYEES WILL BE REQUESTED TO NOTIFY THE ORGANIZATION OF ANY INTEREST THATCOULD GIVE RISE TO CONFLICT, AND EACH MEMBER IS ASKED TO CONFIRM AT EACHSCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDIVIDUALS THAT WANT TO REVIEW ORGANIZATION DOCUMENTS, POLICIES ANDFINANCIAL STATEMENTS ARE ASKED TO PUT THEIR REQUEST IN WRITING. A DATE ISSCHEDULED FOR THE INDIVIDUAL TO REVIEW THE REQUESTED ITEMS AT OUR OFFICE AT73 WEST 108TH STREET, NEW YORK, NY, 10025.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0MANHATTAN VALLEY DEV
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0133104087
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING MANAGEMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MANHATTAN VALLEY MANAGEMENY COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt073 WEST 108TH STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd0100253222
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MANHATTAN VALLEY DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0132628511
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LIHTC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt073 WEST 108TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0100253222
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt047915
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0HOURLY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MANHATTAN VALLEY MANAGEMENY COMPANY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0m
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01148783
IRS990/TotalAssetsEOYAmt01240880
IRS990/TotalAssetsGrp/BOYAmt01148783
IRS990/TotalAssetsGrp/EOYAmt01240880
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt025261

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,240,880
Liabilities
$1,346,535
Net assets
-$105,655
Revenue
$249,763
Expenses
$167,420
Net income
$82,343
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.27$0.05$1.23$1.56$0.23$1.33
2024Detailed filing. Detailed filing data is available for this year.$1.24$1.35$0.11$0.25$0.17$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.15$1.34$0.19$0.22$0.19$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.12$1.35$0.23$0.20$0.24$0.04
2019Summary only. Only limited summary data is available for this year.$1.15$1.35$0.20$0.21$0.23$0.02
2017Summary only. Only limited summary data is available for this year.$1.17$1.36$0.19$0.21$0.17$0.04
2016Summary only. Only limited summary data is available for this year.$1.10$1.34$0.24$0.21$0.16$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.06$1.35$0.29$0.20$0.19$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.01$1.34$0.33$0.20$0.18$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.34$0.35$0.19$0.17$0.02
2012Summary only. Only limited summary data is available for this year.$0.98$1.35$0.37$0.17$0.19$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.34$0.35$0.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$1.34$0.30$0.20