Seventeenth Street Housing Development Fund Corporation

990 • Fiscal year 2021 • EIN 13-4004190

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 10, 2022

Organization Profile N/A

463 7th Avenue 17th FloorNew York, NY 10018

(212) 633-6900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

1.00x

Higher debt load relative to assets than 67% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

15.24x

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

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

-110%

Higher net margin than 4% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

$459,907

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 230.0% of source-year revenue.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

0.6%

Faster asset growth than 71% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2020 to 2021

54%

Faster revenue growth than 90% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet

Liabilities / Assets67th percentile

Assets

$3,056,657

Up $19,248 (+0.6%) from 2020

Net Assets

Down

$10,393

Down $220,547 (-95%) from 2020

Liabilities

$3,046,264

Up $239,795 (+8.5%) from 2020

Revenue And Expenses

Liabilities / Revenue85th percentile Net Margin4th percentile

Revenue

$199,935

Up $70,028 (+54%) from 2020

Expenses

$420,482

Up $111,075 (+36%) from 2020

Net Income

Down

-$220,547

Down $41,047 (-23%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

Highlighted filing

2021

Assets$3,056,657

Liabilities$3,046,264

Net Assets$10,393

Open 2021 Filing

Operations Trend

Revenue Growth90th percentile

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

Highlighted filing

2021

Revenue$199,935

Expenses$420,482

Net Income-$220,547

Open 2021 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2020 to Jun 30, 2021
Signed: Mar 10, 2022
Return Version: 2020v4.1
Gross Receipts: $199,935

Mission and Program Overview

Mission

Organized to own, rehabilitate, and operate an 18-unit housing project providing permanent housing to low-income individuals located at 17th street, new york, new york.

Organized to own, rehabilitate, and operate an 18-unit housing project providing permanent housing to low-income individuals.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$1,798,251	$1,732,563	▼ $65,688
Savings and Temporary Cash Investments	$207,888	$194,787	▼ $13,101
Accounts Receivable	$14,922	$16,214	▲ $1,292
Cash and Non-Interest-Bearing Accounts	$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
Prepaid Expenses and Deferred Charges	$0	$0	→ $0
Total Assets	$3,037,409	$3,056,657	▲ $19,248
Other Assets Total	$1,016,348	$1,113,093	▲ $96,745
Liabilities
Mortgage Notes Payable Secured by Investment Property	$1,584,883	$1,868,933	▲ $284,050
Other Liabilities	$1,205,050	$1,154,103	▼ $50,947
Accounts Payable and Accrued Expenses	$16,536	$23,228	▲ $6,692
Grants Payable	$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	$2,806,469	$3,046,264	▲ $239,795
Net Assets / Fund Balance
Net Assets Without Donor Restrictions	$230,940	$10,393	▼ $220,547
Net Assets With Donor Restrictions	$0	$0	→ $0
Total Net Assets Fund Balance	$230,940	$10,393	▼ $220,547
Total Liabilities and Net Assets / Fund Balance	$3,037,409	$3,056,657	▲ $19,248

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$1,285,051	$1,091,882	$2,376,933
Land	$305,000	-	$305,000
Other Land Buildings	$142,512	$31,611	$174,123
Other Assets Org	$2,926	-	-

Compensation and Service Providers

Top Officer Pay91st percentile

Employees

Name	Title	Base	Other	Total
Donna Colonna	President and CEO	$443,138	$16,769	$459,907
Perry Perlmutter	Chief Financial Officer	$367,505	$23,315	$390,820
Judith Jones	Chief of Staff	$239,434	$10,372	$249,806

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $190,504
Investment Income: $9,361
Other Revenue: $70
Change in Net Assets: $-220,547

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$420,482
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Occupancy	$120,900	-	-	$120,900
Depreciation Depletion	$66,088	-	-	$66,088
Fees for Services Accounting	$14,833	$0	$0	$14,833
Other Expenses	$14,236	$16,184	-	$14,236
All Other Expenses	$5,874	-	-	$5,874
Insurance	$1,863	-	-	$1,863
Fees for Services Legal	$1,100	-	-	$1,100
Fees for Services Other	$750	-	-	$750
Office Expenses	$264	-	-	$264
Total Functional Expenses	$404,298	$16,184	$0	$420,482

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
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
Subject to proxy tax: No

Insider Transactions and Loans

Loans and Receivables

Line Item	Beginning	End	Change
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

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
21 Truxton Street Housing Deve Fund Co	New York, NY	Housing	501(c)(4)	N/a	No
Boston Post Road HDFC	New York, NY	Housing	501(c)(3)	7	No
Broadway Decatur Hdfc	New York, NY	Housing	501(c)(4)	N/a	No
Cedar Tremont HDFC	New York, NY	Housing	501(c)(3)	7	No
Jerome Hdfc	New York, NY	Housing	501(c)(4)	N/a	No
Macombs Road HDFC	New York, NY	Housing	501(c)(4)	N/a	No
Melrose Housing Development Fund Corp	New York, NY	Housing	501(c)(4)	N/a	No
Mother Gaston Hdfc	New York, NY	Housing	501(c)(4)	N/a	No
New Life Homes Hdfc	New York, NY	Housing	501(c)(4)	N/a	No
Palladia Housing Corporation	New York, NY	Housing	501(c)(3)	12	No
Palladia Inc	New York, NY	Housing	501(c)(3)	7	No
Palladia Philanthropies Inc	New York, NY	Housing	501(c)(3)	7	No
Palladia Year 15 Inc	New York, NY	Housing	501(c)(3)	7	No
Project Return HDFC	New York, NY	Housing	501(c)(3)	7	No
Project Return Institute	New York, NY	Education	501(c)(3)	10	No
Services for the Underserved Inc	New York, NY	Srvc Provider	501(c)(3)	7	No
Stratford Housing Development Fund Corp	New York, NY	Housing	501(c)(3)	PF	No
Sus - Aids Services Inc	New York, NY	Aids Services	501(c)(3)	10	No
Sus - Developmental Disab Srvcs Inc	New York, NY	Health Srvcs	501(c)(3)	10	No
Sus - Home Attendant Services Inc	Brooklyn, NY	Home Care	501(c)(3)	PF	No
Sus - Home Care Services Inc	New York, NY	Home Care	501(c)(3)	10	No
Sus - Mental Health Programs Inc	New York, NY	Mental Health	501(c)(3)	10	No
Sus - Urgent Housing Programs Inc	New York, NY	Housing	501(c)(3)	10	No
Sus Foundation Inc	New York, NY	Srvc Provider	501(c)(3)	10	No
Sus Undercliff Hdfc	New York, NY	Housing	501(c)(4)	N/a	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
1071 Washington Lp	New York, NY	Housing	-	-	-	-
1434 Undercliff Ave LP	New York, NY	Housing	-	-	-	-
21 Truxton St LP	New York, NY	Housing	-	-	-	-
2264 Morris Ave MM LLC	New York, NY	Housing	-	-	-	-
3361 Third Ave GP LLC	New York, NY	Housing	-	-	-	-
3361 Third Ave LP	New York, NY	Housing	-	-	-	-
Broadway Decatur Gp LLC	New York, NY	Housing	-	-	-	-
Broadway Decatur Owners LLC	New York, NY	Housing	-	-	-	-
Cedar Tremont Lp	New York, NY	Housing	-	-	-	-
Dreitzer House Lp	New York, NY	Housing	-	-	-	-
Flora Vista LP	New York, NY	Housing	-	-	-	-
Hill House Lp	New York, NY	Housing	-	-	-	-
Jerome 1769 Owner LLC	New York, NY	Housing	-	-	-	-
Macombs Road Housing LP	New York, NY	Housing	-	-	-	-
Mother Gaston Housing LP	New York, NY	Housing	-	-	-	-
Westchester Gardens LP	New York, NY	Housing	-	-	-	-

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Due to Affiliate	$847,066
Deferred Interest Payable	$294,590
Security Deposits	$9,158
Prepaid Rent	$3,289

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: No
Other officer compensation reviewed: No
Conflict-of-interest policy: Yes
Audited financial statements prepared: Yes
Key decisions subject to board approval: Yes
Management duties delegated: No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6:

“Services for the underserved, inc., a new york not-for-profit corporation, is the sole corporate member of seventeenth street housing development fund corporation. Form 990, part vi, section a, lines 7a and 7b: services for the underserved, inc., as the sole corporate member of seventeenth street housing development fund corporation, has the final approval of electing the board of directors for the organization and final voting rights on governing matters. Form 990, part vi, section b, line 11b: form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. Draft form 990 is reviewed by the organization's management as well as the full board of directors before it was filed with the internal revenue service.”

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

“Annually, all members of the board and the executive management team complete a conflict of interest questionnaire. The responses are reviewed and investigated by the agency compliance officer and if a conflict exists, the individual is required to recuse themselves from discussions and voting.”

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

“The organization does not compensate any officer or key employee.”

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

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

Filing and Contact Details

Filer

Filer Name: Seventeenth Street Housing Development
EIN: 13-4004190
In Care Of: % PERRY PERLMUTTER
Phone: 2126336900
Address: 463 7TH AVENUE 17TH FLOOR, NEW YORK, NY 10018

Signing Officer

Name: Perry Perlmutter
Title: CFO
Phone: 2126336900
Signed: 2022-03-10
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Dr Jorge R Petit
Formed: 1998
Legal Domicile: Ny
Voting Board Members: 3
Independent Board Members: 0
Employees: 0
Volunteers: 0

Preparer

Firm: Bdo USA Llp
Address: 100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer: Paul Hammerschmidt
Phone: 2128858000

Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The corporation has been determined by the internal revenue service (irs) to be a tax-exempt organization under section 501(c)(4) of the u.s. Internal revenue code (the code) and is, therefore, exempt from federal income tax under section 501(a) of the code and from state and local taxes under comparable laws. Under the provisions of asc 740, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not that the position will be sustained upon examination by a taxing authority. The corporation does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The corporation has filed for and received income tax exemptions in the jurisdictions where it is required to do so. For the year ended december 31, 2020, there were no interest or penalties recorded or included on the statement of activities. The corporation is subject to routine audits by a taxing authority. As of december 31, 2020, the corporation was not subject to any examination by the taxing authority.”

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IRS990/MinutesOfCommitteesInd	0	true
IRS990/MinutesOfGoverningBodyInd	0	true
IRS990/MissionDesc	0	ORGANIZED TO OWN, REHABILITATE, AND OPERATE AN 18-UNIT HOUSING PROJECT PROVIDING PERMANENT HOUSING TO LOW-INCOME INDIVIDUALS LOCATED AT 17TH STREET, NEW YORK, NEW YORK.
IRS990/MoreThan5000KToIndividualsInd	0	false
IRS990/MoreThan5000KToOrgInd	0	false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt	0	1584883
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt	0	1868933
IRS990/NetAssetsOrFundBalancesBOYAmt	0	230940
IRS990/NetAssetsOrFundBalancesEOYAmt	0	10393
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt	0	0
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt	0	0
IRS990/NetUnrelatedBusTxblIncmAmt	0	0
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt	0	230940
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt	0	10393
IRS990/NondeductibleContributionsInd	0	false
IRS990/OccupancyGrp/ProgramServicesAmt	0	120900
IRS990/OccupancyGrp/TotalAmt	0	120900
IRS990/OfficeExpensesGrp/ProgramServicesAmt	0	264
IRS990/OfficeExpensesGrp/TotalAmt	0	264
IRS990/OfficerMailingAddressInd	0	false
IRS990/OperateHospitalInd	0	false
IRS990/Organization501cInd	0	X
IRS990/OrganizationFollowsFASB117Ind	0	X
IRS990/OtherAssetsTotalGrp/BOYAmt	0	1016348
IRS990/OtherAssetsTotalGrp/EOYAmt	0	1113093
IRS990/OtherEmployeeBenefitsGrp/TotalAmt	0	0
IRS990/OtherExpensesGrp/Desc	0	SECURITY SERVICES
IRS990/OtherExpensesGrp/Desc	1	ALLOCATED PAYROLL & BENEFITS
IRS990/OtherExpensesGrp/Desc	2	PROPERTY MGMT FEES
IRS990/OtherExpensesGrp/Desc	3	BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt	0	16184
IRS990/OtherExpensesGrp/ProgramServicesAmt	0	98499
IRS990/OtherExpensesGrp/ProgramServicesAmt	1	79891
IRS990/OtherExpensesGrp/ProgramServicesAmt	2	14236
IRS990/OtherExpensesGrp/TotalAmt	0	98499
IRS990/OtherExpensesGrp/TotalAmt	1	79891
IRS990/OtherExpensesGrp/TotalAmt	2	16184
IRS990/OtherExpensesGrp/TotalAmt	3	14236
IRS990/OtherLiabilitiesGrp/BOYAmt	0	1205050
IRS990/OtherLiabilitiesGrp/EOYAmt	0	1154103
IRS990/OtherRevenueMiscGrp/BusinessCd	0	900009
IRS990/OtherRevenueMiscGrp/Desc	0	MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt	0	70
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt	0	70
IRS990/OtherRevenueTotalAmt	0	70
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt	0	0
IRS990/OtherSalariesAndWagesGrp/TotalAmt	0	0
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt	0	0
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt	0	0
IRS990/PartialLiquidationInd	0	false
IRS990/PaymentsToAffiliatesGrp/TotalAmt	0	0
IRS990/PayrollTaxesGrp/TotalAmt	0	0
IRS990/PensionPlanContributionsGrp/TotalAmt	0	0
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt	0	0
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt	0	0
IRS990/PoliticalCampaignActyInd	0	false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt	0	0
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt	0	0
IRS990/PrincipalOfficerNm	0	DR JORGE R PETIT
IRS990/ProfessionalFundraisingInd	0	false
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	532000
IRS990/ProgramServiceRevenueGrp/Desc	0	RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	190504
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	190504
IRS990/ProhibitedTaxShelterTransInd	0	false
IRS990/PYBenefitsPaidToMembersAmt	0	0
IRS990/PYContributionsGrantsAmt	0	0
IRS990/PYExcessBenefitTransInd	0	false
IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	76
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt	0	0
IRS990/PYOtherExpensesAmt	0	309407
IRS990/PYOtherRevenueAmt	0	1253
IRS990/PYProgramServiceRevenueAmt	0	128578
IRS990/PYRevenuesLessExpensesAmt	0	-179500
IRS990/PYSalariesCompEmpBnftPaidAmt	0	0
IRS990/PYTotalExpensesAmt	0	309407
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	129907
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt	0	0
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt	0	0
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt	0	0
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	-220547
IRS990/RegularMonitoringEnfrcInd	0	true
IRS990/RelatedEntityInd	0	true
IRS990/RelatedOrganizationCtrlEntInd	0	false
IRS990/RentalIncomeOrLossGrp/PersonalAmt	0	0
IRS990/RentalIncomeOrLossGrp/RealAmt	0	0
IRS990/ReportInvestmentsOtherSecInd	0	false
IRS990/ReportLandBuildingEquipmentInd	0	true
IRS990/ReportOtherAssetsInd	0	true
IRS990/ReportOtherLiabilitiesInd	0	true
IRS990/ReportProgramRelatedInvstInd	0	false
IRS990/RevenueAmt	0	190504
IRS990/RoyaltiesGrp/TotalAmt	0	0
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt	0	0
IRS990/SavingsAndTempCashInvstGrp/BOYAmt	0	207888
IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	194787
IRS990/ScheduleBRequiredInd	0	false
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	1285051
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	1091882
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	2376933
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt	0	0
IRS990ScheduleD/FootnoteTextInd	0	X
IRS990ScheduleD/LandGrp/BookValueAmt	0	305000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	305000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	0	859469
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	1	224078
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	2	15943
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	3	9158
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	4	1519
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	5	2926
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	0	ORGANIZATION COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	1	REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	2	OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	3	SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	4	DUE FROM AFFILIATE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	5	OTHER ASSETS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	142512
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	31611
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	174123
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	847066
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	294590
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	2	9158
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	3	3289
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	DUE TO AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	1	DEFERRED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	2	SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	3	PREPAID RENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	THE CORPORATION HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE (IRS) TO BE A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(4) OF THE U.S. INTERNAL REVENUE CODE (THE CODE) AND IS, THEREFORE, EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE CODE AND FROM STATE AND LOCAL TAXES UNDER COMPARABLE LAWS. UNDER THE PROVISIONS OF ASC 740, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. THE CORPORATION DOES NOT BELIEVE IT HAS TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECORDED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE CORPORATION HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. FOR THE YEAR ENDED DECEMBER 31, 2020, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED ON THE STATEMENT OF ACTIVITIES. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY A TAXING AUTHORITY. AS OF DECEMBER 31, 2020, THE CORPORATION WAS NOT SUBJECT TO ANY EXAMINATION BY THE TAXING AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	1732563
IRS990ScheduleD/TotalBookValueOtherAssetsAmt	0	1113093
IRS990ScheduleD/TotalLiabilityAmt	0	1154103
IRS990ScheduleJ/AnyNonFixedPaymentsInd	0	false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd	0	false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd	0	false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd	0	false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd	0	false
IRS990ScheduleJ/EquityBasedCompArrngmInd	0	false
IRS990ScheduleJ/InitialContractExceptionInd	0	false
IRS990/ScheduleJRequiredInd	0	true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	0	443138
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	1	239434
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	2	367505
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	0	16769
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	1	10372
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	2	23315
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	0	DONNA COLONNA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	1	JUDITH JONES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	2	PERRY PERLMUTTER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	0	PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	1	CHIEF OF STAFF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	2	CHIEF FINANCIAL OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	0	459907
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	1	249806
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	2	390820
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	2	0
IRS990ScheduleJ/SeverancePaymentInd	0	false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt	0	SERVICES FOR THE UNDERSERVED, INC. (EIN: 91-1918247), AN AFFILIATE OF THE REPORTING ORGANIZATION, PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. SERVICES FOR THE UNDERSERVED, INC. HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART I, LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd	0	false
IRS990/ScheduleORequiredInd	0	true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	SERVICES FOR THE UNDERSERVED, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION, IS THE SOLE CORPORATE MEMBER OF SEVENTEENTH STREET HOUSING DEVELOPMENT FUND CORPORATION. FORM 990, PART VI, SECTION A, LINES 7A AND 7B: SERVICES FOR THE UNDERSERVED, INC., AS THE SOLE CORPORATE MEMBER OF SEVENTEENTH STREET HOUSING DEVELOPMENT FUND CORPORATION, HAS THE FINAL APPROVAL OF ELECTING THE BOARD OF DIRECTORS FOR THE ORGANIZATION AND FINAL VOTING RIGHTS ON GOVERNING MATTERS. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 IS PREPARED BY A NATIONALLY RENOWNED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. DRAFT FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT AS WELL AS THE FULL BOARD OF DIRECTORS BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	ANNUALLY, ALL MEMBERS OF THE BOARD AND THE EXECUTIVE MANAGEMENT TEAM COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE RESPONSES ARE REVIEWED AND INVESTIGATED BY THE AGENCY COMPLIANCE OFFICER AND IF A CONFLICT EXISTS, THE INDIVIDUAL IS REQUIRED TO RECUSE THEMSELVES FROM DISCUSSIONS AND VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICER OR KEY EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PART VI, SECTION A, LINE 6:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART VI, SECTION B, LINE 15:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleR/AssetExchangeInd	0	false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	false
IRS990ScheduleR/AssetSaleToOtherOrgInd	0	false
IRS990ScheduleR/DivRelatedOrganizationInd	0	false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd	0	false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	0	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	1	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	2	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	3	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	4	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	5	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	6	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	7	false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd	8	false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $3,056,657
Liabilities: $3,046,264
Net assets: $10,393
Revenue: $199,935
Expenses: $420,482
Net income: -$220,547

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$3.04	$3.50	$0.45	$0.34	$0.40	$0.06
2023Detailed filing. Detailed filing data is available for this year.	$3.05	$3.44	$0.39	$0.34	$0.47	$0.13
2022Detailed filing. Detailed filing data is available for this year.	$3.08	$3.34	$0.26	$0.22	$0.49	$0.27
2021Detailed filing. Detailed filing data is available for this year.	$3.06	$3.05	$0.01	$0.20	$0.42	$0.22
2020Detailed filing. Detailed filing data is available for this year.	$3.04	$2.81	$0.23	$0.13	$0.31	$0.18