Civic Intelligence

Torres Apartments Housing

990 • Fiscal year 2018 • EIN 13-3819603

Jul 01, 2017 to Jun 30, 2018 • Filed on May 03, 2019

Organization Profile
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

80th percentile

0.35x

Higher debt load relative to assets than 80% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.46x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

97th percentile

$288,817

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 72.4% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

13th percentile

-15%

Faster asset growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

22nd percentile

-12%

Faster revenue growth than 22% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$523,840

Down $90,136 (-15%) from 2017

Net Assets

Down

$341,255

Down $75,720 (-18%) from 2017

Liabilities

Down

$182,585

Down $14,416 (-7.3%) from 2017

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin14th percentile

Revenue

Down

$399,022

Down $52,157 (-12%) from 2017

Expenses

Up

$474,742

Up $14,561 (+3.2%) from 2017

Net Income

Down

-$75,720

Down $66,718 (-741%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,104,222Liabilities 2011: $2,001,312Net Assets 2011: -$897,0902011Assets 2012: $1,045,222Liabilities 2012: $285,729Net Assets 2012: $759,4932012Assets 2013: $869,265Liabilities 2013: $378,031Net Assets 2013: $491,2342013Assets 2014: $812,337Liabilities 2014: $571,040Net Assets 2014: $241,2972014Assets 2015: $743,860Liabilities 2015: $245,877Net Assets 2015: $497,9832015Assets 2016: $622,864Liabilities 2016: $196,887Net Assets 2016: $425,9772016Assets 2017: $613,976Liabilities 2017: $197,001Net Assets 2017: $416,9752017Assets 2018: $523,840Liabilities 2018: $182,585Net Assets 2018: $341,2552018Assets 2019: $468,690Liabilities 2019: $191,701Net Assets 2019: $276,9892019Assets 2020: $457,139Liabilities 2020: $232,081Net Assets 2020: $225,0582020Assets 2021: $434,065Liabilities 2021: $264,789Net Assets 2021: $169,2762021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$523,840
Liabilities$182,585
Net Assets$341,255
Open 2018 Filing

Operations Trend

Revenue Growth22nd percentile

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

$1.0M$500K$0-$500KExpenses 2011: $549,2082011Expenses 2012: $516,5122012Revenue 2013: $419,825Expenses 2013: $688,084Net Income 2013: -$268,2592013Revenue 2014: $404,841Expenses 2014: $654,778Net Income 2014: -$249,9372014Revenue 2015: $752,268Expenses 2015: $495,582Net Income 2015: $256,6862015Revenue 2016: $451,732Expenses 2016: $523,738Net Income 2016: -$72,0062016Revenue 2017: $451,179Expenses 2017: $460,181Net Income 2017: -$9,0022017Revenue 2018: $399,022Expenses 2018: $474,742Net Income 2018: -$75,7202018Revenue 2019: $406,981Expenses 2019: $471,247Net Income 2019: -$64,2662019Revenue 2020: $383,015Expenses 2020: $434,946Net Income 2020: -$51,9312020Revenue 2021: $399,406Expenses 2021: $455,188Net Income 2021: -$55,7822021Revenue 2022: $185,435Expenses 2022: $485,674Net Income 2022: -$300,2392022

Highlighted filing

2018

Revenue$399,022
Expenses$474,742
Net Income-$75,720
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 3, 2019
Return Version
2017v2.3
Gross Receipts
$399,022
Mission and Program Overview

Mission

To provide quality housing and social services to the low and moerate income families in the south bronx, ny.

To provide low-income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$413,573$343,137▼ $70,436
Accounts Receivable$84,272$92,004▲ $7,732
Savings and Temporary Cash Investments$53,311$53,429▲ $118
Prepaid Expenses and Deferred Charges$19,745$15,034▼ $4,711
Cash and Non-Interest-Bearing Accounts$35,163$12,132▼ $23,031
Total Assets$613,976$523,840▼ $90,136
Other Assets Total$7,912$8,104▲ $192
Liabilities
Other Liabilities$116,003$125,483▲ $9,480
Accounts Payable and Accrued Expenses$69,701$45,406▼ $24,295
Escrow Account Liability$11,290$11,316▲ $26
Deferred Revenue$7$380▲ $373
Total Liabilities$197,001$182,585▼ $14,416
Net Assets / Fund Balance
Unrestricted Net Assets$416,975$341,255▼ $75,720
Total Net Assets Fund Balance$416,975$341,255▼ $75,720
Total Liabilities and Net Assets / Fund Balance$613,976$523,840▼ $90,136

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$331,278$1,472,128$1,803,406
Equipment$11,859$23,050$34,909
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseOtherTotal
Jason BoroffVice Chair/t$18,671$270,146$288,817
Steven SeltzerExecutive Di-$141,694$141,694
Gaudi Polanco MendozaController-$79,326$79,326
Jason BoroffVice Chair/treasurer-$18,671$18,671

Board Members and Trustees

NameTitle
Valerie TorresChair
Salvatore GiganteMember
Evelyn VelasquezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$398,804
Investment Income
$218
Other Revenue
$0
Change in Net Assets
$-75,720

Audited Revenue Reconciliation

Revenue per Audited Statements
$399,022
Total Revenue per Audited Statements
$399,022
Total Revenue per Form 990
$399,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$425,396
Salaries, Compensation, and Employee Benefits$49,346
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$127,273--$127,273
Depreciation Depletion$70,435--$70,435
Insurance$59,540--$59,540
Other Salaries and Wages$32,426--$32,426
Fees for Services Management$32,425--$32,425
Fees for Services Legal$26,906--$26,906
Other Employee Benefits$14,973--$14,973
Fees for Services Accounting-$7,750-$7,750
All Other Expenses$4,497--$4,497
Other Expenses$4,252--$4,252
Payroll Taxes$1,947--$1,947
Total Functional Expenses$466,992$7,750$0$474,742

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$474,742
Total Expenses per Audited Statements$474,742
Total Expenses per Form 990$474,742
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$125,483
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
Torres Apartments Housing
EIN
13-3819603
Phone
7188426440
Address
1945 VYSE AVENUE, BRONX, NY 10460

Signing Officer

Name
Gaudi Polanco Mendoza
Title
Controller
Phone
7188426440
Signed
2019-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Torres
Formed
1995
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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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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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/BusinessNameLine1Txt4J RAVEN CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5ELSMERE CORPORATION
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7SOSA CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8871 EAST 179TH STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt9RESIDENCIA ESTRELLA VARGAS INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt21945 VYSE AVENUE
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt41945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt51945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt61945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt71945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt81945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt91945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BRONX
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1BRONX

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$523,840
Liabilities
$182,585
Net assets
$341,255
Revenue
$399,022
Expenses
$474,742
Net income
-$75,720
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.19$0.49$0.30
2021Detailed filing. Detailed filing data is available for this year.$0.43$0.26$0.17$0.40$0.46$0.06
2020Detailed filing. Detailed filing data is available for this year.$0.46$0.23$0.23$0.38$0.43$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.47$0.19$0.28$0.41$0.47$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.18$0.34$0.40$0.47$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.61$0.20$0.42$0.45$0.46$0.01
2016Summary only. Only limited summary data is available for this year.$0.62$0.20$0.43$0.45$0.52$0.07
2015Summary only. Only limited summary data is available for this year.$0.74$0.25$0.50$0.75$0.50$0.26
2014Summary only. Only limited summary data is available for this year.$0.81$0.57$0.24$0.40$0.65$0.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.38$0.49$0.42$0.69$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.29$0.76$0.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$2.00$0.90$0.55