Civic Intelligence

Prospect Place Housing Development

990 • Fiscal year 2019 • EIN 13-3819621

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 03, 2020

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

83rd percentile

0.19x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

0.29x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

47th percentile

2.0%

Higher net margin than 47% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$248,671

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 81.3% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

35th percentile

-4.8%

Faster asset growth than 35% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

53rd percentile

3.0%

Faster revenue growth than 53% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$459,197

Down $23,307 (-4.8%) from 2018

Net Assets

Up

$370,734

Up $6,063 (+1.7%) from 2018

Liabilities

Down

$88,463

Down $29,370 (-25%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin47th percentile

Revenue

Up

$305,738

Up $9,039 (+3.0%) from 2018

Expenses

Down

$299,675

Down $13,947 (-4.4%) from 2018

Net Income

Up

$6,063

Up $22,986 (+136%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth35th 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

2019

Assets$459,197
Liabilities$88,463
Net Assets$370,734
Open 2019 Filing

Operations Trend

Revenue Growth53rd 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

2019

Revenue$305,738
Expenses$299,675
Net Income$6,063
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 3, 2020
Return Version
2018v3.2
Gross Receipts
$305,738
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
Cash and Non-Interest-Bearing Accounts$157,996$183,353▲ $25,357
Land, Buildings, and Equipment, Net$223,280$182,409▼ $40,871
Accounts Receivable$44,378$49,327▲ $4,949
Savings and Temporary Cash Investments$27,477$27,541▲ $64
Prepaid Expenses and Deferred Charges$17,631$5,995▼ $11,636
Total Assets$482,504$459,197▼ $23,307
Other Assets Total$11,742$10,572▼ $1,170
Liabilities
Unsecured Notes Loans Payable$54,293$44,707▼ $9,586
Accounts Payable and Accrued Expenses$32,979$27,862▼ $5,117
Escrow Account Liability$10,560$10,572▲ $12
Other Liabilities$20,001$5,322▼ $14,679
Total Liabilities$117,833$88,463▼ $29,370
Net Assets / Fund Balance
Unrestricted Net Assets$364,671$370,734▲ $6,063
Total Net Assets Fund Balance$364,671$370,734▲ $6,063
Total Liabilities and Net Assets / Fund Balance$482,504$459,197▼ $23,307

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$180,777$923,919$1,104,696
Equipment$1,632$5,368$7,000
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseOtherTotal
Jason BoroffVice Chair/t$6,235$242,436$248,671
Gaudi MendozaExecutive Di-$115,670$115,670
Jean BonhommeController-$36,750$36,750
Steven SeltzerExecutive Di-$13,269$13,269
Jason BoroffVice Chair/treasurer-$6,235$6,235

Board Members and Trustees

NameTitle
Valerie TorresChair
Joan TraniMember
Josefa SantosMember
Salvatore GiganteMember
Evelyn VelasquezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$302,834
Investment Income
$164
Other Revenue
$2,740
Change in Net Assets
$6,063

Audited Revenue Reconciliation

Revenue per Audited Statements
$305,738
Total Revenue per Audited Statements
$305,738
Total Revenue per Form 990
$305,738
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$258,316
Salaries, Compensation, and Employee Benefits$41,359
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$86,356--$86,356
Depreciation Depletion$40,871--$40,871
Insurance$26,908--$26,908
Other Salaries and Wages$26,180--$26,180
Fees for Services Management-$23,021-$23,021
Other Employee Benefits$12,546--$12,546
Fees for Services Accounting-$8,350-$8,350
Other Expenses$6,260--$6,260
Fees for Services Legal$5,352--$5,352
Payroll Taxes$2,633--$2,633
All Other Expenses$2,371--$2,371
Fees for Services Other$163--$163
Total Functional Expenses$268,304$31,371$0$299,675

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$299,675
Total Expenses per Audited Statements$299,675
Total Expenses per Form 990$299,675
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
Prepaid Revenue$5,322
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
Steven Seltzer
Title
Executive Director
Phone
7188426440
Signed
2020-06-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Torres
Formed
1991
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
5
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.”

Raw XML AppendixShowing 400 of 840 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID REVENUE
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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
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1MANAGING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt6LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt7LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt9LOW INCOME
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0HOB II INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1HEART OF THE BRONX MANAGEMENT CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt21965 VYSE AVENUE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3CRISCUOLO CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4J RAVEN CORPORATION

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$459,197
Liabilities
$88,463
Net assets
$370,734
Revenue
$305,738
Expenses
$299,675
Net income
$6,063
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