Civic Intelligence

Mrc-754 East 161St Street Housing Development Fund Corporation

EIN 13-3833870 • 501(c)3 • Bronx, NY

Pub. 78 Eligible

Profile

The corporation is organized exclusively for the purpose of developing on a tax-exempt basis, an affordable housing project for persons of low income.

576B East 165th StreetBronx, NY 10456

mrcbx.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.34x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.33x

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

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

73rd percentile

20%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$190,807

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

52nd percentile

4.1%

Faster asset growth than 52% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

12%

Faster revenue growth than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$4,768,025

Up $187,493 (+4.1%) from 2022

Liabilities

Down

$1,609,390

Down $48,613 (-2.9%) from 2022

Net Assets

Up

$3,158,635

Up $236,106 (+8.1%) from 2022

Revenue

Up

$1,211,943

Up $127,454 (+12%) from 2022

Expenses

Down

$967,471

Down $222,748 (-19%) from 2022

Net Income

Up

$244,472

Up $350,202 (+331%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2017: $5,589,601Liabilities 2017: $2,414,562Net Assets 2017: $3,175,0392017Assets 2018: $5,520,392Liabilities 2018: $2,288,285Net Assets 2018: $3,232,1072018Assets 2019: $5,342,798Liabilities 2019: $2,126,964Net Assets 2019: $3,215,8342019Assets 2020: $5,123,268Liabilities 2020: $1,978,643Net Assets 2020: $3,144,6252020Assets 2021: $4,831,300Liabilities 2021: $1,803,041Net Assets 2021: $3,028,2592021Assets 2022: $4,580,532Liabilities 2022: $1,658,003Net Assets 2022: $2,922,5292022Assets 2023: $4,768,025Liabilities 2023: $1,609,390Net Assets 2023: $3,158,6352023

Highlighted filing

2023

Assets$4,768,025
Liabilities$1,609,390
Net Assets$3,158,635

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2017: $1,029,915Expenses 2017: $1,052,917Net Income 2017: -$23,0022017Revenue 2018: $1,043,853Expenses 2018: $986,785Net Income 2018: $57,0682018Revenue 2019: $1,091,401Expenses 2019: $1,107,674Net Income 2019: -$16,2732019Revenue 2020: $1,103,494Expenses 2020: $1,174,703Net Income 2020: -$71,2092020Revenue 2021: $1,112,687Expenses 2021: $1,229,053Net Income 2021: -$116,3662021Revenue 2022: $1,084,489Expenses 2022: $1,190,219Net Income 2022: -$105,7302022Revenue 2023: $1,211,943Expenses 2023: $967,471Net Income 2023: $244,4722023

Highlighted filing

2023

Revenue$1,211,943
Expenses$967,471
Net Income$244,472

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$1,211,943
Mission and Program Overview

Mission

The corporation is organized exclusively for the purpose of developing on a tax-exempt basis, an affordable housing project for persons of low income.

Affordable housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,464,893$3,176,704▼ $288,189
Accounts Receivable$370,295$532,465▲ $162,170
Other Notes and Loans Receivable, Net$175,228$163,228▼ $12,000
Cash and Non-Interest-Bearing Accounts$9,393$7,295▼ $2,098
Total Assets$4,580,532$4,768,025▲ $187,493
Other Assets Total$560,723$888,333▲ $327,610
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,570,263$1,392,224▼ $178,039
Other Liabilities$73,335$129,788▲ $56,453
Accounts Payable and Accrued Expenses$14,405$87,378▲ $72,973
Total Liabilities$1,658,003$1,609,390▼ $48,613
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,922,529$3,158,635▲ $236,106
Total Net Assets Fund Balance$2,922,529$3,158,635▲ $236,106
Total Liabilities and Net Assets / Fund Balance$4,580,532$4,768,025▲ $187,493

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,709,004$4,451,235$7,160,239
Land$467,700-$467,700
Other Assets Org$65,065--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Helen Foreman-hinesPresident
Izzy KukajVice President
Robert BalachandranVice President
Abigail TaylorDirector
Jackie Forbes-clarkDirector
Rita JonesDirector
Rosemarie GordonDirector
Paul MooreExecutive Director
Fredrica ClarkSecretary
Sean TurnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,211,943
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$244,472
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$967,471
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
Depreciation Depletion$289,304--$289,304
Fees for Services Other$115,419--$115,419
Interest$86,716--$86,716
Fees for Services Management$60,651--$60,651
Fees for Services Accounting$51,769--$51,769
Fees for Services Legal$23,509--$23,509
Insurance$22,705--$22,705
Office Expenses$8,174--$8,174
Other Expenses$33--$33
Total Functional Expenses$967,471$0$0$967,471
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
Tenant Security Deposit Payable$73,788
Notes Payble$56,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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
No

Governance Explanations

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

A draft of form 990 is reviewed and approved by the board prior to filing.

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

Board members are required to disclose any conflicts of interest on an annual basis and as potential conflicts arise.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Morrisania Revitalization Corporation
EIN
13-3833870
Phone
7185897858
Address
576B EAST 165TH STREET, BRONX, NY 10456

Signing Officer

Name
Paul Moore
Title
Executive Director
Phone
6466758248
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Moore
Formed
1995
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Marcum Llp
Address
10 MELVILLE PARK ROAD, MELVILLE, NY 11747-3146
Preparer
Mary Ann Mendel
Phone
6314144000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Leasing fees: program service expenses 4,515. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,515. Payroll funding: program service expenses 105,842. Management and general expenses 0. Fundraising expenses 0. Total expenses 105,842. Utility consultant: program service expenses 5,062. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,062.

FORM 990, PART XI, LINE 9:

BAD DEBT -8,366.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0245
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01098
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01951
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03294
IRS990ScheduleA/InvestmentIncomeCYPct00.00060
IRS990ScheduleA/InvestmentIncomePYPct00.00110
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99940
IRS990ScheduleA/PublicSupportPY509Pct00.99890
IRS990ScheduleA/PublicSupportTotal509Amt05600720
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01211943
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01084489
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01112442
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01102396
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01089450
IRS990ScheduleA/Total509Grp/TotalAmt05600720
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01211943
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01084489
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01112687
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01103494
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01091401
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05604014
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02709004
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04451235
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07160239
IRS990ScheduleD/LandGrp/BookValueAmt0467700
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0467700
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05799
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1817469
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt265065
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE AND ESCROW ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt073788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt156000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTES PAYBLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03176704
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0888333
IRS990ScheduleD/TotalLiabilityAmt0129788
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0190807
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PAUL MOORE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0190807
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD APPROVES EXECUTIVE COMPENSATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS AND AS POTENTIAL CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LEASING FEES: PROGRAM SERVICE EXPENSES 4,515. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,515. PAYROLL FUNDING: PROGRAM SERVICE EXPENSES 105,842. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 105,842. UTILITY CONSULTANT: PROGRAM SERVICE EXPENSES 5,062. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,062.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BAD DEBT -8,366.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MORRISANIA REVITALIZATION CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1MRC MELROSE HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2MARSHALL COURT HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3JDD COURT HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4MCGEE PLAZA HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5FULTON PLAZA HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0133113927
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1461680265
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2133651523
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3461664159
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4811477381
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5133651524
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2AFFORDABLE HOUSING

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