Civic Intelligence

Jericho Residence V Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 13-4015729

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 18, 2023

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

(646) 624-2341

Siviq Scores

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

Liabilities / Assets

89th percentile

2.00x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

4.95x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Net Margin

30th percentile

-27%

Higher net margin than 30% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$238,232

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 24.9% of source-year revenue.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Asset Growth

8th percentile

-6.9%

Faster asset growth than 8% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

161%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Flat

$2,366,369

Flat from 2023

Net Assets

Flat

-$2,373,818

Flat from 2023

Liabilities

Flat

$4,740,187

Flat from 2023

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin30th percentile

Revenue

Flat

$958,289

Flat from 2023

Expenses

Flat

$1,213,214

Flat from 2023

Net Income

Flat

-$254,925

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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: $2,542,598Liabilities 2022: $4,686,442Net Assets 2022: -$2,143,8442022Assets 2023: $2,366,369Liabilities 2023: $4,740,187Net Assets 2023: -$2,373,8182023Assets 2023: $2,366,369Liabilities 2023: $4,740,187Net Assets 2023: -$2,373,8182023

Highlighted filing

2023

Assets$2,366,369
Liabilities$4,740,187
Net Assets-$2,373,818
Open 2023 Filing

Operations Trend

Revenue Growth97th percentile

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: $366,918Expenses 2022: $185,411Net Income 2022: $181,5072022Revenue 2023: $958,289Expenses 2023: $1,213,214Net Income 2023: -$254,9252023Revenue 2023: $958,289Expenses 2023: $1,213,214Net Income 2023: -$254,9252023

Highlighted filing

2023

Revenue$958,289
Expenses$1,213,214
Net Income-$254,925
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 18, 2023
Return Version
2022v5.0
Gross Receipts
$958,289
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$1,917,103$1,842,284▼ $74,819
Savings and Temporary Cash Investments$329,562$329,562→ $0
Intangible Assets$86,825$81,168▼ $5,657
Accounts Receivable$161,173$73,136▼ $88,037
Cash and Non-Interest-Bearing Accounts$28,122$35,278▲ $7,156
Prepaid Expenses and Deferred Charges$19,260$1,806▼ $17,454
Total Assets$2,542,598$2,366,369▼ $176,229
Other Assets Total$553$3,135▲ $2,582
Liabilities
Other Liabilities$4,081,397$4,708,401▲ $627,004
Accounts Payable and Accrued Expenses$605,045$31,786▼ $573,259
Total Liabilities$4,686,442$4,740,187▲ $53,745
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,143,844$-2,373,818▼ $229,974
Total Net Assets Fund Balance$-2,143,844$-2,373,818▼ $229,974
Total Liabilities and Net Assets / Fund Balance$2,542,598$2,366,369▼ $176,229

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,799,340$1,678,576$3,477,916
Land$42,944-$42,944
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Hamideh FarimaniDeputy Chief$152,455$152,455

Board Members and Trustees

NameTitle
Miriam BoublikPresident
Victoria LyonCEO
Michael TuccilloCFO
Doreen StrakaCOO
Hamideh FarimaniDeputy Chief, Wfo
Aditi DeegMember
Andy MossMember
Dr Francesca Kress PhdMember
Elizabeth GarlandMember
Jerome M MenifeeMember
Joe LoganMember
Joel CohenMember
Karen WhartonMember
Kevin DirkseMember
Michael AddisMember
Murray SmithMember
Simon BoundMember
Thomas ScazzafavoMember
Toks Afolabi-ajayiMember
Yvette FortMember
Zach BuchwaldMember
Cara EisenSecretary
Michael J ReedTreasurer
Mark KopinskiVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$778,856
Program Service Revenue
$179,432
Investment Income
$1
Other Revenue
$0
All Other Contributions
$46,295
Change in Net Assets
$-254,925
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$668,289
Salaries, Compensation, and Employee Benefits$544,925
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$437,291--$437,291
Interest$175,343--$175,343
Depreciation Depletion$111,515--$111,515
Other Employee Benefits$73,396--$73,396
Fees for Services Management$63,936--$63,936
All Other Expenses$63,751--$63,751
Insurance$46,689--$46,689
Payroll Taxes$34,238--$34,238
Office Expenses$25,558--$25,558
Other Expenses$22,370--$22,370
Fees for Services Legal$7,782--$7,782
Information Technology$5,579--$5,579
Fees for Services Accounting$3,250--$3,250
Travel$25--$25
Total Functional Expenses$1,213,214$0$0$1,213,214
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
Accrued Interest$767,194
Hpd Note Payable$675,851
Hpd Note Payable - 2$281,324
Due to Related Parties$145,779
Security Deposits Payable$2,580
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
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 12C

“Any potential conflict of interest is followed up and monitored.”

Form 990, Page 6, Part VI, Line 15A

“Every year the board reviews and approves the compensation of several employees.”

Form 990, Page 6, Part VI, Line 15B

“Every year the board reviews and approves the compensation of several employees.”

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
Phone
6466242341
Address
245 WEST 29TH STREET, NEW YORK, NY 10001

Signing Officer

Name
Victoria Lyon
Title
CEO
Phone
6466242341
Signed
2023-01-18

Organization Details

Principal Officer
Victoria Lyon
Legal Domicile
Ny
Voting Board Members
19
Independent Board Members
19
Employees
26

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 to tax dep difference 0 book to tax amort difference 0”

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MICHAEL TUCCILLO

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,366,369
Liabilities
$4,740,187
Net assets
-$2,373,818
Revenue
$958,289
Expenses
$1,213,214
Net income
-$254,925
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$2.37$4.74$2.37$0.96$1.21$0.25
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
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