Civic Intelligence

Prospect Place Housing Development

990 • Fiscal year 2018 • EIN 13-3819621

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

Organization ProfileN/A
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

85th percentile

0.24x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

91st percentile

0.40x

Higher debt load relative to revenue than 91% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

29th percentile

-5.7%

Higher net margin than 29% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

99th percentile

$288,827

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 97.3% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

41st percentile

-2.1%

Faster asset growth than 41% of similar nonprofits.

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

Revenue Growth

50th percentile

0.8%

Faster revenue growth than 50% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$482,504

Down $10,402 (-2.1%) from 2017

Net Assets

Down

$364,671

Down $16,923 (-4.4%) from 2017

Liabilities

Up

$117,833

Up $6,521 (+5.9%) from 2017

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin29th percentile

Revenue

Up

$296,699

Up $2,275 (+0.8%) from 2017

Expenses

Up

$313,622

Up $49,924 (+19%) from 2017

Net Income

Down

-$16,923

Down $47,649 (-155%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

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

$800K$600K$400K$200K$0Assets 2011: $654,021Liabilities 2011: $204,922Net Assets 2011: $449,0992011Assets 2012: $654,506Liabilities 2012: $211,950Net Assets 2012: $442,5562012Assets 2013: $627,514Liabilities 2013: $246,579Net Assets 2013: $380,9352013Assets 2014: $598,209Liabilities 2014: $235,631Net Assets 2014: $362,5782014Assets 2015: $508,623Liabilities 2015: $171,296Net Assets 2015: $337,3272015Assets 2016: $507,414Liabilities 2016: $156,546Net Assets 2016: $350,8682016Assets 2017: $492,906Liabilities 2017: $111,312Net Assets 2017: $381,5942017Assets 2018: $482,504Liabilities 2018: $117,833Net Assets 2018: $364,6712018Assets 2019: $459,197Liabilities 2019: $88,463Net Assets 2019: $370,7342019Assets 2020: $465,571Liabilities 2020: $90,285Net Assets 2020: $375,2862020Assets 2021: $466,005Liabilities 2021: $94,194Net Assets 2021: $371,8112021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$482,504
Liabilities$117,833
Net Assets$364,671
Open 2018 Filing

Operations Trend

Revenue Growth50th percentile

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

$400K$200K$0-$200KExpenses 2011: $326,3992011Expenses 2012: $283,3062012Revenue 2013: $279,075Expenses 2013: $339,906Net Income 2013: -$60,8312013Revenue 2014: $276,022Expenses 2014: $294,379Net Income 2014: -$18,3572014Revenue 2015: $283,258Expenses 2015: $308,509Net Income 2015: -$25,2512015Revenue 2016: $298,213Expenses 2016: $284,672Net Income 2016: $13,5412016Revenue 2017: $294,424Expenses 2017: $263,698Net Income 2017: $30,7262017Revenue 2018: $296,699Expenses 2018: $313,622Net Income 2018: -$16,9232018Revenue 2019: $305,738Expenses 2019: $299,675Net Income 2019: $6,0632019Revenue 2020: $305,651Expenses 2020: $301,099Net Income 2020: $4,5522020Revenue 2021: $321,497Expenses 2021: $324,972Net Income 2021: -$3,4752021Revenue 2022: $158,467Expenses 2022: $217,625Net Income 2022: -$59,1582022

Highlighted filing

2018

Revenue$296,699
Expenses$313,622
Net Income-$16,923
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
$296,699
Mission and Program Overview

Mission

To provide safe, clean and affordable housing to low and moderate income families in the south bronx, ny.

To provide low income housing to low and moderate income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$264,151$223,280▼ $40,871
Cash and Non-Interest-Bearing Accounts$137,486$157,996▲ $20,510
Accounts Receivable$32,834$44,378▲ $11,544
Savings and Temporary Cash Investments$27,464$27,477▲ $13
Prepaid Expenses and Deferred Charges$18,081$17,631▼ $450
Total Assets$492,906$482,504▼ $10,402
Other Assets Total$12,890$11,742▼ $1,148
Liabilities
Unsecured Notes Loans Payable$54,293$54,293→ $0
Accounts Payable and Accrued Expenses$28,041$32,979▲ $4,938
Other Liabilities$17,270$20,001▲ $2,731
Escrow Account Liability$11,708$10,560▼ $1,148
Total Liabilities$111,312$117,833▲ $6,521
Net Assets / Fund Balance
Unrestricted Net Assets$381,594$364,671▼ $16,923
Total Net Assets Fund Balance$381,594$364,671▼ $16,923
Total Liabilities and Net Assets / Fund Balance$492,906$482,504▼ $10,402

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$220,948$883,748$1,104,696
Equipment$2,332$4,668$7,000
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseOtherTotal
Jason BoroffVice Chair/t$4,110$284,717$288,827
Steven SeltzerExecutive Di-$141,694$141,694
Gaudi MendozaController-$79,326$79,326
Jason BoroffVice Chair/treasurer-$4,110$4,110

Board Members and Trustees

NameTitle
Valerie TorresChair
Salvatore GiganteMember
Evelyn VelasquezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$293,687
Investment Income
$112
Other Revenue
$2,900
Change in Net Assets
$-16,923

Audited Revenue Reconciliation

Revenue per Audited Statements
$296,699
Total Revenue per Audited Statements
$296,699
Total Revenue per Form 990
$296,699
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$269,631
Salaries, Compensation, and Employee Benefits$43,991
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$93,177--$93,177
Depreciation Depletion$40,871--$40,871
Insurance$35,704--$35,704
Other Salaries and Wages$26,997--$26,997
Fees for Services Management$22,781--$22,781
Other Employee Benefits$14,327--$14,327
Fees for Services Accounting-$8,000-$8,000
Fees for Services Legal$6,737--$6,737
Other Expenses$5,298--$5,298
Payroll Taxes$2,667--$2,667
All Other Expenses$2,311--$2,311
Fees for Services Other$150--$150
Total Functional Expenses$305,622$8,000$0$313,622

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$313,622
Total Expenses per Audited Statements$313,622
Total Expenses per Form 990$313,622
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$14,073
Prepaid Revenue$5,928
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-day operations. Aquinas housing corporation, its sponsor, oversees operations and provides asset management.”

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

“Prospect place housing development fund corporation 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 and form 1023 available for public inspection as reequired under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements,articles of incorporation, form 990, form 1023, and by-laws are also available upon request or by calling the organization directly.”

Filing and Contact Details

Filer

Filer Name
Prospect Place Housing Development
EIN
13-3819621
Phone
7188426440
Address
1945 VYSE AVENUE, BRONX, NY 10460

Signing Officer

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

Organization Details

Principal Officer
Valerie Torres
Formed
1991
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/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/RevenueSubtotalAmt0296699
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT.
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-DAY OPERATIONS. AQUINAS HOUSING CORPORATION, ITS SPONSOR, OVERSEES OPERATIONS AND PROVIDES ASSET MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROSPECT PLACE HOUSING DEVELOPMENT FUND CORPORATION 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 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REEQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS,ARTICLES OF INCORPORATION, FORM 990, FORM 1023, AND BY-LAWS ARE ALSO AVAILABLE UPON 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/EntityTypeTxt0C CORP
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
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5LOW INCOME
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0HOB II INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1HEART OF THE BRONX MANAGEMENT CORP
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3CRISCUOLO CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4J RAVEN CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5ELSMERE CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6938 EAST TREMONT CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7SOSA CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8871 EAST 179TH STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt9RESIDENCIA ESTRELLA VARGAS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt11945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt21945 VYSE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt31945 VYSE AVENUE
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
$482,504
Liabilities
$117,833
Net assets
$364,671
Revenue
$296,699
Expenses
$313,622
Net income
-$16,923
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.58$2.18$0.59
2021Detailed filing. Detailed filing data is available for this year.$4.66$0.94$3.72$3.21$3.25$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.66$0.90$3.75$3.06$3.01$0.05
2019Detailed filing. Detailed filing data is available for this year.$4.59$0.88$3.71$3.06$3.00$0.06
2018Detailed filing. Detailed filing data is available for this year.$4.83$1.18$3.65$2.97$3.14$0.17
2017Detailed filing. Detailed filing data is available for this year.$4.93$1.11$3.82$2.94$2.64$0.31
2016Summary only. Only limited summary data is available for this year.$5.07$1.57$3.51$2.98$2.85$0.14
2015Summary only. Only limited summary data is available for this year.$5.09$1.71$3.37$2.83$3.09$0.25
2014Summary only. Only limited summary data is available for this year.$5.98$2.36$3.63$2.76$2.94$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.28$2.47$3.81$2.79$3.40$0.61
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.55$2.12$4.43$2.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.54$2.05$4.49$3.26