Civic Intelligence

New Fordham Hdfc Inc

EIN 13-3839101 • 501(c)3 • Bronx, NY

Profile

The organization operates seven buildings containing 136 residential apartments in the bronx, new york for low and very low-income families.

2751 Grand ConcourseBronx, NY 10468-3001

n/A

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.28x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

80th percentile

0.48x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

20th percentile

-12%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

24th percentile

-4.2%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

2.1%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,879,971

Down $125,083 (-4.2%) from 2023

Liabilities

Up

$809,118

Up $83,473 (+12%) from 2023

Net Assets

Down

$2,070,853

Down $208,556 (-9.1%) from 2023

Revenue

Up

$1,690,524

Up $35,505 (+2.1%) from 2023

Expenses

Down

$1,899,080

Down $127,651 (-6.3%) from 2023

Net Income

Up

-$208,556

Up $163,156 (+44%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,297,079Liabilities 2011: $100,230Net Assets 2011: $4,196,8492011Assets 2012: $4,148,568Liabilities 2012: $136,011Net Assets 2012: $4,012,5572012Assets 2013: $4,154,755Liabilities 2013: $125,345Net Assets 2013: $4,029,4102013Assets 2014: $4,114,523Liabilities 2014: $104,579Net Assets 2014: $4,009,9442014Assets 2015: $4,094,526Liabilities 2015: $109,663Net Assets 2015: $3,984,8632015Assets 2016: $3,967,169Liabilities 2016: $91,266Net Assets 2016: $3,875,9032016Assets 2017: $3,897,587Liabilities 2017: $100,320Net Assets 2017: $3,797,2672017Assets 2018: $3,708,278Liabilities 2018: $111,484Net Assets 2018: $3,596,7942018Assets 2019: $3,662,564Liabilities 2019: $198,533Net Assets 2019: $3,464,0312019Assets 2020: $3,694,179Liabilities 2020: $386,337Net Assets 2020: $3,307,8422020Assets 2021: $3,647,598Liabilities 2021: $704,747Net Assets 2021: $2,942,8512021Assets 2022: $3,307,328Liabilities 2022: $656,207Net Assets 2022: $2,651,1212022Assets 2023: $3,005,054Liabilities 2023: $725,645Net Assets 2023: $2,279,4092023Assets 2024: $2,879,971Liabilities 2024: $809,118Net Assets 2024: $2,070,8532024

Highlighted filing

2024

Assets$2,879,971
Liabilities$809,118
Net Assets$2,070,853

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,391,7382011Revenue 2012: $1,328,651Expenses 2012: $1,512,943Net Income 2012: -$184,2922012Revenue 2013: $1,393,523Expenses 2013: $1,376,670Net Income 2013: $16,8532013Revenue 2014: $1,372,388Expenses 2014: $1,391,854Net Income 2014: -$19,4662014Revenue 2015: $1,390,448Expenses 2015: $1,415,529Net Income 2015: -$25,0812015Revenue 2016: $1,427,533Expenses 2016: $1,536,493Net Income 2016: -$108,9602016Revenue 2017: $1,526,367Expenses 2017: $1,605,003Net Income 2017: -$78,6362017Revenue 2018: $1,575,248Expenses 2018: $1,775,721Net Income 2018: -$200,4732018Revenue 2019: $1,605,419Expenses 2019: $1,738,182Net Income 2019: -$132,7632019Revenue 2020: $1,621,808Expenses 2020: $1,777,997Net Income 2020: -$156,1892020Revenue 2021: $1,634,666Expenses 2021: $1,999,657Net Income 2021: -$364,9912021Revenue 2022: $1,651,138Expenses 2022: $1,942,868Net Income 2022: -$291,7302022Revenue 2023: $1,655,019Expenses 2023: $2,026,731Net Income 2023: -$371,7122023Revenue 2024: $1,690,524Expenses 2024: $1,899,080Net Income 2024: -$208,5562024

Highlighted filing

2024

Revenue$1,690,524
Expenses$1,899,080
Net Income-$208,556

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.88$0.81$2.07$1.69$1.90$0.21
2023Detailed filing. Detailed filing data is available for this year.$3.01$0.73$2.28$1.66$2.03$0.37
2022Detailed filing. Detailed filing data is available for this year.$3.31$0.66$2.65$1.65$1.94$0.29
2021Detailed filing. Detailed filing data is available for this year.$3.65$0.70$2.94$1.63$2.00$0.36
2020Detailed filing. Detailed filing data is available for this year.$3.69$0.39$3.31$1.62$1.78$0.16
2019Detailed filing. Detailed filing data is available for this year.$3.66$0.20$3.46$1.61$1.74$0.13
2018Detailed filing. Detailed filing data is available for this year.$3.71$0.11$3.60$1.58$1.78$0.20
2017Detailed filing. Detailed filing data is available for this year.$3.90$0.10$3.80$1.53$1.61$0.08
2016Detailed filing. Detailed filing data is available for this year.$3.97$0.09$3.88$1.43$1.54$0.11
2015Detailed filing. Detailed filing data is available for this year.$4.09$0.11$3.98$1.39$1.42$0.03
2014Detailed filing. Detailed filing data is available for this year.$4.11$0.10$4.01$1.37$1.39$0.02
2013Detailed filing. Detailed filing data is available for this year.$4.15$0.13$4.03$1.39$1.38$0.02
2012Summary only. Only limited summary data is available for this year.$4.15$0.14$4.01$1.33$1.51$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.30$0.10$4.20$1.39
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$1,690,524
Mission and Program Overview

Mission

The organization operates seven buildings containing 136 residential apartments in the Bronx, New York for low and very low-income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,910,391$1,837,693▼ $72,698
Prepaid Expenses and Deferred Charges$258,626$294,383▲ $35,757
Accounts Receivable$198,417$176,815▼ $21,602
Cash and Non-Interest-Bearing Accounts$53,692$133,030▲ $79,338
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$3,005,054$2,879,971▼ $125,083
Other Assets Total$583,928$438,050▼ $145,878
Liabilities
Accounts Payable and Accrued Expenses$590,912$617,149▲ $26,237
Other Liabilities$134,733$191,969▲ $57,236
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$725,645$809,118▲ $83,473
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,279,409$2,070,853▼ $208,556
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2,279,409$2,070,853▼ $208,556
Total Liabilities and Net Assets / Fund Balance$3,005,054$2,879,971▼ $125,083

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$945,825$5,281,132$6,226,957
Land$853,158-$853,158
Equipment$0$127,254$127,254
Other Land Buildings$38,710$74,845$113,555
Leasehold Improvements$0$0$0
Other Assets Org$4,793--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eileen HoganPresident
Jose NoratVice President
Erika MartinezDirector
Heng LySecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,690,524
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-208,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,690,524
Total Revenue per Audited Statements
$1,690,524
Total Revenue per Form 990
$1,690,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,899,080
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
Occupancy$654,985--$654,985
Insurance$403,174--$403,174
Other Expenses$226,405--$226,405
Fees for Services Other$139,667--$139,667
Depreciation Depletion$91,698--$91,698
Office Expenses$73,951$12,844-$86,795
Fees for Services Legal$45,293--$45,293
Fees for Services Accounting-$20,240-$20,240
Total Functional Expenses$1,865,996$33,084$0$1,899,080

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,899,080
Total Expenses per Audited Statements$1,899,080
Total Expenses per Form 990$1,899,080
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$116,792
Security Deposit Liability$75,177
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 8B:

On an annual basis the organization documents meetings and significant transactions in the board of director minutes.

FORM 990, PART VI, SECTION B, LINE 11B:

The board of directors must approve the annual federal tax form 990 and the related state tax filings after it has received these documents from the outside independent auditors and accountants in an annual board meeting.

FORM 990, PART VI, SECTION B, LINE 12C:

On an annual basis the board of directors reviews actual or potential conflicts of interests with board memebrs and officers. The policy is distributed to all board members. Potential conflicts are brought to the executive committee for review and officers found to have conflicts of interests are asked to resign or abstain from invovlement of all related projects.

FORM 990, PART VI, SECTION B, LINE 15:

Other officers and key employees do not receive compensation from this organization. Officers and board members do not receive compensation from this organization.

FORM 990, PART VI, SECTION C, LINE 18:

Nys charities bureau website

FORM 990, PART VI, SECTION C, LINE 19:

After approval of the financial statements by the board of directors on an annual basis, the organization makes available all governance documents, policy statements, financial statements and tax returns to the public, upon written request. The organization also timely files its annual new york state char 500 report with the nys attorney general and all of its filings are made available through the nysoag charities website.

Filing and Contact Details

Filer

Filer Name
New Fordham HDFC Inc
EIN
13-3839101
In Care Of
% HENG LY
Phone
7183673200
Address
2751 Grand Concourse, Bronx, NY 10468-3001

Signing Officer

Name
Heng Ly
Title
Secretary/treasurer
Phone
7183673200
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heng Ly
Formed
1995
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Withumsmithbrown Pc
Address
1411 BROADWAY 9TH FLOOR, NEW YORK, NY 10018
Preparer
Israel Tannenbaum CPA
Phone
2127519100
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The organization provides affordable rental housing to families with low and very-low incomes.

Financial Statement Notes

PART X, LINE 2:

The Corporation has tax-exempt status under Section 501(3) of the Internal Revenue Code ("IRC"). Being a nonstock corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. GAAP requires evaluation of tax positions taken or expected to be taken in the course of preparing the Corporation's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. The Corporation has no income tax related penalties for the period reported in these financial statements. Should any such penalties and interest be incurred, the Corporation's policy would be to recognize them as operating expenses. The Corporations federal and state tax returns for the fiscal years after 2021 remain subject to examination by the relevant taxing authorities.

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IRS990/MissionDesc0THE ORGANIZATION OPERATES SEVEN BUILDINGS CONTAINING 136 RESIDENTIAL APARTMENTS IN THE BRONX, NEW YORK FOR LOW AND VERY LOW-INCOME FAMILIES.
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt175177
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt24793
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FBHC RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2UTILITY DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/RevenueSubtotalAmt01690524
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation has tax-exempt status under Section 501(3) of the Internal Revenue Code ("IRC"). Being a nonstock corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. GAAP requires evaluation of tax positions taken or expected to be taken in the course of preparing the Corporation's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. The Corporation has no income tax related penalties for the period reported in these financial statements. Should any such penalties and interest be incurred, the Corporation's policy would be to recognize them as operating expenses. The Corporations federal and state tax returns for the fiscal years after 2021 remain subject to examination by the relevant taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalRevenuePerForm990Amt01690524
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0HENG LY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Secretary/Treasurer
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0COMPENSATION PAID TO OFFICER FROM RELATED ORGANIZATION IS BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBLITIES, AND SALARY COMPENSATION FOR SIMILAR POSITIONS. FINAL APPROVAL FOR EXECUTIVE DIRECTOR'S COMPENSATION MUST BE APPROVED BY THE EXECUTIVE BOARD OF DIRECTORS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES AFFORDABLE RENTAL HOUSING TO FAMILIES WITH LOW AND VERY-LOW INCOMES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ON AN ANNUAL BASIS THE ORGANIZATION DOCUMENTS MEETINGS AND SIGNIFICANT TRANSACTIONS IN THE BOARD OF DIRECTOR MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS MUST APPROVE THE ANNUAL FEDERAL TAX FORM 990 AND THE RELATED STATE TAX FILINGS AFTER IT HAS RECEIVED THESE DOCUMENTS FROM THE OUTSIDE INDEPENDENT AUDITORS AND ACCOUNTANTS IN AN ANNUAL BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ON AN ANNUAL BASIS THE BOARD OF DIRECTORS REVIEWS ACTUAL OR POTENTIAL CONFLICTS OF INTERESTS WITH BOARD MEMEBRS AND OFFICERS. THE POLICY IS DISTRIBUTED TO ALL BOARD MEMBERS. POTENTIAL CONFLICTS ARE BROUGHT TO THE EXECUTIVE COMMITTEE FOR REVIEW AND OFFICERS FOUND TO HAVE CONFLICTS OF INTERESTS ARE ASKED TO RESIGN OR ABSTAIN FROM INVOVLEMENT OF ALL RELATED PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER OFFICERS AND KEY EMPLOYEES DO NOT RECEIVE COMPENSATION FROM THIS ORGANIZATION. OFFICERS AND BOARD MEMBERS DO NOT RECEIVE COMPENSATION FROM THIS ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NYS CHARITIES BUREAU WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AFTER APPROVAL OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS, THE ORGANIZATION MAKES AVAILABLE ALL GOVERNANCE DOCUMENTS, POLICY STATEMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC, UPON WRITTEN REQUEST. THE ORGANIZATION ALSO TIMELY FILES ITS ANNUAL NEW YORK STATE CHAR 500 REPORT WITH THE NYS ATTORNEY GENERAL AND ALL OF ITS FILINGS ARE MADE AVAILABLE THROUGH THE NYSOAG CHARITIES WEBSITE.

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