Seventeenth Street Housing Development Fund Corporation

990 • Fiscal year 2022 • EIN 13-4004190

Jul 01, 2021 to Jun 30, 2022 • Filed on May 10, 2023

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.

1.08x

Higher debt load relative to assets than 70% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

15.46x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

-125%

Higher net margin than 3% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

$561,104

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 259.6% of source-year revenue.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

0.8%

Faster asset growth than 72% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

8.1%

Faster revenue growth than 72% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet

Liabilities / Assets70th percentile

Assets

$3,082,013

Up $25,356 (+0.8%) from 2021

Net Assets

Down

-$260,440

Down $270,833 (-2606%) from 2021

Liabilities

$3,342,453

Up $296,189 (+9.7%) from 2021

Revenue And Expenses

Liabilities / Revenue86th percentile Net Margin3rd percentile

Revenue

$216,140

Up $16,205 (+8.1%) from 2021

Expenses

$486,973

Up $66,491 (+16%) from 2021

Net Income

Down

-$270,833

Down $50,286 (-23%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

Highlighted filing

2022

Assets$3,082,013

Liabilities$3,342,453

Net Assets-$260,440

Open 2022 Filing

Operations Trend

Revenue Growth72nd percentile

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

Highlighted filing

2022

Revenue$216,140

Expenses$486,973

Net Income-$270,833

Open 2022 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2021 to Jun 30, 2022
Signed: May 10, 2023
Return Version: 2021v4.2
Gross Receipts: $216,140

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	$1,732,563	$2,816,039	▲ $1,083,476
Savings and Temporary Cash Investments	$194,787	$82,616	▼ $112,171
Accounts Receivable	$16,214	$17,963	▲ $1,749
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	$3,056,657	$3,082,013	▲ $25,356
Other Assets Total	$1,113,093	$165,395	▼ $947,698
Liabilities
Mortgage Notes Payable Secured by Investment Property	$1,868,933	$1,944,883	▲ $75,950
Other Liabilities	$1,154,103	$1,378,328	▲ $224,225
Accounts Payable and Accrued Expenses	$23,228	$19,242	▼ $3,986
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	$3,046,264	$3,342,453	▲ $296,189
Net Assets / Fund Balance
Net Assets With Donor Restrictions	$0	$0	→ $0
Net Assets Without Donor Restrictions	$10,393	$-260,440	▼ $270,833
Total Net Assets Fund Balance	$10,393	$-260,440	▼ $270,833
Total Liabilities and Net Assets / Fund Balance	$3,056,657	$3,082,013	▲ $25,356

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$1,225,627	$1,151,306	$2,376,933
Other Land Buildings	$1,285,412	$63,559	$1,348,971
Land	$305,000	-	$305,000
Other Assets Org	$9	-	-

Compensation and Service Providers

Top Officer Pay94th percentile

Board Members and Trustees

Name	Title
Donna Colonna	President (thru 2/22)
Dr Jorge R Petit	President Eff. 2/22
Judith Jones	Vice President & Secretary
Perry Perlmutter	Vice President & Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $215,342
Investment Income: $868
Other Revenue: $-70
Change in Net Assets: $-270,833

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$486,973
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	$143,222	-	-	$143,222
Depreciation Depletion	$95,921	-	-	$95,921
Fees for Services Accounting	$13,839	-	-	$13,839
All Other Expenses	$8,575	-	-	$8,575
Fees for Services Other	$7,396	-	-	$7,396
Other Expenses	$3,804	$17,274	-	$3,804
Insurance	$2,868	-	-	$2,868
Office Expenses	$218	-	-	$218
Total Functional Expenses	$469,699	$17,274	$0	$486,973

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	$1,043,406
Deferred Interest Payable	$321,572
Security Deposits	$9,158
Prepaid Rent	$4,192

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 national 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 is 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, LINES 15A AND 15B:

“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: interim pres. & CEO
Phone: 2126336900
Signed: 2023-05-10
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Perry Perlmutter
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:

“Seventeenth Street Housing Development Fund Corporation 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 organization does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The organization has filed for and received income tax exemptions in the jurisdictions where it is required to do so. Additionally, the organization has filed Internal Revenue Service (IRS) Form 990 information returns, as required, and all other applicable returns in jurisdictions where so required. The organization is subject to routine audits by a taxing authority. As of June 30, 2022, the organization was not subject to any examination by a taxing authority.”

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IRS990/LandBldgEquipCostOrOtherBssAmt	0	4030904
IRS990/LegalDomicileStateCd	0	NY
IRS990/LoanOutstandingInd	0	false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt	0	0
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt	0	0
IRS990/LocalChaptersInd	0	false
IRS990/MaterialDiversionOrMisuseInd	0	false
IRS990/MembersOrStockholdersInd	0	true
IRS990/MethodOfAccountingAccrualInd	0	X
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	1868933
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt	0	1944883
IRS990/NetAssetsOrFundBalancesBOYAmt	0	10393
IRS990/NetAssetsOrFundBalancesEOYAmt	0	-260440
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	10393
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt	0	-260440
IRS990/NondeductibleContributionsInd	0	false
IRS990/OccupancyGrp/ProgramServicesAmt	0	143222
IRS990/OccupancyGrp/TotalAmt	0	143222
IRS990/OfficeExpensesGrp/ProgramServicesAmt	0	218
IRS990/OfficeExpensesGrp/TotalAmt	0	218
IRS990/OfficerMailingAddressInd	0	false
IRS990/OperateHospitalInd	0	false
IRS990/Organization501cInd	0	X
IRS990/OrganizationFollowsFASB117Ind	0	X
IRS990/OtherAssetsTotalGrp/BOYAmt	0	1113093
IRS990/OtherAssetsTotalGrp/EOYAmt	0	165395
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	ADMINISTRATIVE FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt	0	17274
IRS990/OtherExpensesGrp/ProgramServicesAmt	0	113148
IRS990/OtherExpensesGrp/ProgramServicesAmt	1	80708
IRS990/OtherExpensesGrp/ProgramServicesAmt	2	3804
IRS990/OtherExpensesGrp/TotalAmt	0	113148
IRS990/OtherExpensesGrp/TotalAmt	1	80708
IRS990/OtherExpensesGrp/TotalAmt	2	17274
IRS990/OtherExpensesGrp/TotalAmt	3	3804
IRS990/OtherLiabilitiesGrp/BOYAmt	0	1154103
IRS990/OtherLiabilitiesGrp/EOYAmt	0	1378328
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/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	PERRY PERLMUTTER
IRS990/ProfessionalFundraisingInd	0	false
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	532000
IRS990/ProgramServiceRevenueGrp/Desc	0	RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	215342
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	215342
IRS990/ProhibitedTaxShelterTransInd	0	false
IRS990/PYBenefitsPaidToMembersAmt	0	0
IRS990/PYContributionsGrantsAmt	0	0
IRS990/PYExcessBenefitTransInd	0	false
IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	9361
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt	0	0
IRS990/PYOtherExpensesAmt	0	420482
IRS990/PYOtherRevenueAmt	0	70
IRS990/PYProgramServiceRevenueAmt	0	190504
IRS990/PYRevenuesLessExpensesAmt	0	-220547
IRS990/PYSalariesCompEmpBnftPaidAmt	0	0
IRS990/PYTotalExpensesAmt	0	420482
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	199935
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt	0	0
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt	0	0
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt	0	0
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	-270833
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	215342
IRS990/RoyaltiesGrp/TotalAmt	0	0
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt	0	0
IRS990/SavingsAndTempCashInvstGrp/BOYAmt	0	194787
IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	82616
IRS990/ScheduleBRequiredInd	0	false
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	1225627
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	1151306
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	110952
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	1	26391
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	2	15959
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	3	9158
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	4	2926
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt	5	9
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	0	REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	1	ORGANIZATION COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	2	OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	3	SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	4	OTHER ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc	5	DUE FROM AFFILIATE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	1285412
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	63559
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	1348971
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	1043406
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	321572
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	2	9158
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	3	4192
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	Seventeenth Street Housing Development Fund Corporation 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 organization does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The organization has filed for and received income tax exemptions in the jurisdictions where it is required to do so. Additionally, the organization has filed Internal Revenue Service (IRS) Form 990 information returns, as required, and all other applicable returns in jurisdictions where so required. The organization is subject to routine audits by a taxing authority. As of June 30, 2022, the organization was not subject to any examination by a taxing authority.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	2816039
IRS990ScheduleD/TotalBookValueOtherAssetsAmt	0	165395
IRS990ScheduleD/TotalLiabilityAmt	0	1378328
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	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	1	5000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	0	441731
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	1	383249
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	2	242324
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	104243
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt	1	46224
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt	2	57562
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	0	15130
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	1	22011
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt	2	10721
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	PERRY PERLMUTTER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	2	JUDITH JONES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	0	PRESIDENT (THRU 2/22)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	1	VICE PRESIDENT & TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	2	VICE PRESIDENT & SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	0	561104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	1	456484
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	2	310607
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/ExplanationTxt	1	THE FOLLOWING EMPLOYEES OF SERVICES FOR THE UNDERSERVED, INC. ARE PARTICIPANTS IN A SECTION 457(F) PLAN. THE AMOUNTS CONTRIBUTED ARE: DONNA COLONNA..............$79,743. PERRY PERLMUTTER...........$21,724. JUDITH JONES...............$33,062.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART I, LINE 3:
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc	1	PART I, LINE 4B:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd	0	true
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	FORM 990 IS PREPARED BY A NATIONAL 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 IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	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	4	THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICER OR KEY EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	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 A, LINES 7A AND 7B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PART VI, SECTION B, LINES 15A AND 15B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleR/AssetExchangeInd	0	false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	false
IRS990ScheduleR/AssetSaleToOtherOrgInd	0	false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $3,082,013
Liabilities: $3,342,453
Net assets: -$260,440
Revenue: $216,140
Expenses: $486,973
Net income: -$270,833

	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