Civic Intelligence

Jericho Residence V Housing Development Fund Corporation

990 • Fiscal year 2022 • EIN 13-4015729

Apr 01, 2021 to Mar 31, 2022 • Filed on Jan 17, 2023

Organization ProfileWWW.JERICHOPROJECT.COM
245 West 29th StreetNew York, NY 10001

(646) 624-2341

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$2,514,906

Down $66,951 (-2.6%) from 2021

Net Assets

Down

-$2,325,351

Down $271,981 (-13%) from 2021

Liabilities

Up

$4,840,257

Up $205,030 (+4.4%) from 2021

Revenue And Expenses

Revenue

Down

$656,511

Down $336 (-0.1%) from 2021

Expenses

Down

$928,491

Down $124,168 (-12%) from 2021

Net Income

Up

-$271,980

Up $123,832 (+31%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2018: $1Liabilities 2018: $02018Assets 2019: $2,725,881Liabilities 2019: $4,198,992Net Assets 2019: -$1,473,1112019Assets 2020: $2,692,694Liabilities 2020: $4,361,271Net Assets 2020: -$1,668,5772020Assets 2021: $2,581,857Liabilities 2021: $4,635,227Net Assets 2021: -$2,053,3702021Assets 2022: $2,514,906Liabilities 2022: $4,840,257Net Assets 2022: -$2,325,3512022Assets 2022: $2,542,598Liabilities 2022: $4,686,442Net Assets 2022: -$2,143,8442022Assets 2023: $2,366,369Liabilities 2023: $4,740,187Net Assets 2023: -$2,373,8182023

Highlighted filing

2022

Assets$2,514,906
Liabilities$4,840,257
Net Assets-$2,325,351
Open 2022 Filing

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $487,480Expenses 2019: $521,568Net Income 2019: -$34,0882019Revenue 2020: $684,385Expenses 2020: $905,550Net Income 2020: -$221,1652020Revenue 2021: $656,847Expenses 2021: $1,052,659Net Income 2021: -$395,8122021Revenue 2022: $656,511Expenses 2022: $928,491Net Income 2022: -$271,9802022Revenue 2022: $366,918Expenses 2022: $185,411Net Income 2022: $181,5072022Revenue 2023: $958,289Expenses 2023: $1,213,214Net Income 2023: -$254,9252023

Highlighted filing

2022

Revenue$656,511
Expenses$928,491
Net Income-$271,980
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2021 to Mar 31, 2022
Signed
Jan 17, 2023
Return Version
2021v4.0
Gross Receipts
$656,511
Mission and Program Overview

Mission

To own, construct, rehabilitate, lease, manage, equip, maintain, develop, and operate a housing project for persons of low income and the needy and to provide the furnishing of clean and decent permanent housing facilities for persons in need of such accommodations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,023,254$1,939,564▼ $83,690
Savings and Temporary Cash Investments$329,562$329,562→ $0
Accounts Receivable$59,104$100,349▲ $41,245
Intangible Assets$88,441$85,209▼ $3,232
Cash and Non-Interest-Bearing Accounts$65,948$57,089▼ $8,859
Prepaid Expenses and Deferred Charges$12,416--
Total Assets$2,581,857$2,514,906▼ $66,951
Other Assets Total$3,132$3,133▲ $1
Liabilities
Other Liabilities$4,106,636$4,219,493▲ $112,857
Accounts Payable and Accrued Expenses$496,329$595,090▲ $98,761
Deferred Revenue$32,262$25,674▼ $6,588
Total Liabilities$4,635,227$4,840,257▲ $205,030
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,053,370$-2,325,351▼ $271,981
Total Net Assets Fund Balance$-2,053,370$-2,325,351▼ $271,981
Total Liabilities and Net Assets / Fund Balance$2,581,857$2,514,906▼ $66,951

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,896,620$1,574,333$3,470,953
Land$42,944-$42,944
Compensation and Service Providers

Employees

NameTitleOtherTotal
Hamidah FarimaniDeputy Chief$143,297$143,297
Michael TuccilloCFO$69,539$69,539

Board Members and Trustees

NameTitle
Miriam Wohabe BoublikPresident
Doreen StrakaCOO
Adriana RodriguezCPO
Gary BernsteinCPO
Aditi DeegMember
Andy MossMember
Dr Francesca Kress PhdMember
Elizabeth GarlandMember
Jerome M MenifeeMember
Joel CohenMember
Karen WhartonMember
Katherine ForrestMember
Murray SmithMember
Peter ZhengMember
Simon BoundMember
Thomas ScazzafavoMember
Toks Afolabi-ajayiMember
Victoria LyonMember
Yvette FortMember
Zach BuchwaldMember
Cara EisenSecretary
Michael ReedTreasurer
Mark KopinskiVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$159,888
Program Service Revenue
$496,621
Investment Income
$2
Other Revenue
$0
All Other Contributions
$159,888
Change in Net Assets
$-271,980
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$505,282
Other Expenses$423,209
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$381,399--$381,399
Interest$109,022--$109,022
Depreciation Depletion$86,922--$86,922
Other Employee Benefits$74,304--$74,304
Payroll Taxes$49,579--$49,579
Insurance$44,061--$44,061
Fees for Services Management$39,730--$39,730
All Other Expenses$35,349--$35,349
Other Expenses$13,948--$13,948
Office Expenses$10,682--$10,682
Fees for Services Other$8,005--$8,005
Information Technology$7,478--$7,478
Fees for Services Legal$2,803--$2,803
Travel$32--$32
Total Functional Expenses$928,491$0$0$928,491
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable - Nyc Hpd (noncurrent)$2,835,673
Hpd Note Payable$675,851
Due to Related Parties$424,065
Hpd Note Payable - 2$281,324
Security Deposits Payable$2,580
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

“Tax return was prepared by the accountants and reviewed by the board of directors and executive director. It is then finalized and filed shortly thereafter.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are prepared by the organization as well as its conflict of interest policy. Financial statements, once finalized are made available upon request and also received by ny charities bureau and posted on their website.”

Filing and Contact Details

Filer

Filer Name
Jericho Residence V Housing Develop
EIN
13-4015729
Address
245 WEST 29TH STREET, NEW YORK, NY 10001

Signing Officer

Name
Victoria Lyon
Title
Member
Phone
6466242341
Signed
2023-01-17

Organization Details

Principal Officer
Victoria Lyon
Voting Board Members
20
Independent Board Members
20
Employees
15

Preparer

Firm
Geltrude & Company LLC
Address
513 FRANKLIN AVE, NUTLEY, NJ 07110-1746
Preparer
Michael W Carlon
Phone
9736679100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To own, construct, rehabilitate, lease, manage, equip, maintain, develop, and operate a housing project for persons of low income and the needy and to provide the furnishing of clean and decent permanent housing facilities for persons in need of such accommodations.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 3,232 book to tax amort difference -3,233 book to tax dep difference 0 total -1”

Financial Statement Notes

Schedule D, Page 4, Part XIII

“Accounting principles generally accepted in the united states of america require the organization to evaluate uncertain tax positions taken. The financial statement effects of an uncertain tax position are recognized when the tax position is more likely than not, based on the technical merits, not to be sustained upon examination by the irs or treasury. The organization has analyzed the tax positions taken and has concluded that as of march 31, 2022, there were no uncertain positions taken or expected to be taken by the organization. The organization has recognized no interest or penalties related to uncertain tax positions. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization is no longer subject to income tax examinations for years prior to the year ended march 31, 2019.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23MEMBER
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IRS990/MissionDesc0TO OWN, CONSTRUCT, REHABILITATE, LEASE, MANAGE, EQUIP, MAINTAIN, DEVELOP, AND OPERATE A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND THE NEEDY AND TO PROVIDE THE FURNISHING OF CLEAN AND DECENT PERMANENT HOUSING FACILITIES FOR PERSONS IN NEED OF SUCH ACCOMMODATIONS.
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IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1ELECTRICITY
IRS990/OtherExpensesGrp/Desc2HEATING FUEL
IRS990/OtherExpensesGrp/Desc3WATER & SEWER
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IRS990/PrincipalOfficerNm0VICTORIA LYON
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IRS990/ProgramServiceRevenueGrp/Desc0RENTAL - SECTION 8
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL REVENUE
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IRS990ScheduleD/LandGrp/BookValueAmt042944
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt042944
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2424065
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3281324
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt42580
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE - NYC HPD (NONCURRENT)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1HPD NOTE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3HPD NOTE PAYABLE - 2
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE ORGANIZATION TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN. THE FINANCIAL STATEMENT EFFECTS OF AN UNCERTAIN TAX POSITION ARE RECOGNIZED WHEN THE TAX POSITION IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, NOT TO BE SUSTAINED UPON EXAMINATION BY THE IRS OR TREASURY. THE ORGANIZATION HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF MARCH 31, 2022, THERE WERE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO THE YEAR ENDED MARCH 31, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleD/TotalLiabilityAmt04219493
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1180040
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2163846
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0VICTORIA LYON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1DOREEN STRAKA

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,514,906
Liabilities
$4,840,257
Net assets
-$2,325,351
Revenue
$656,511
Expenses
$928,491
Net income
-$271,980
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$2.37$4.74$2.37$0.96$1.21$0.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.54$4.69$2.14$0.37$0.19$0.18
2022Detailed filing. Detailed filing data is available for this year.$2.51$4.84$2.33$0.66$0.93$0.27
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$4.64$2.05$0.66$1.05$0.40
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$4.36$1.67$0.68$0.91$0.22
2019Summary only. Only limited summary data is available for this year.$2.73$4.20$1.47$0.49$0.52$0.03
2018Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00