Civic Intelligence

Highbridge Senior Housing Development Fund Corporation

990 • Fiscal year 2021 • EIN 13-4094682

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 31, 2022

Organization ProfileN/A
1465 Nelson Avenue Rm/Ste ABronx, NY 10452

(718) 293-3100

Siviq Scores

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

Liabilities / Assets

99th percentile

2.23x

Higher debt load relative to assets than 99% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

75th percentile

8.33x

Higher debt load relative to revenue than 75% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Net Margin

41st percentile

-21%

Higher net margin than 41% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

78th percentile

$273,961

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 22.8% of source-year revenue.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Asset Growth

7th percentile

-7.8%

Faster asset growth than 7% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

86th percentile

23%

Faster revenue growth than 86% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$4,498,131

Down $382,626 (-7.8%) from 2020

Net Assets

Down

-$5,538,091

Down $257,159 (-4.9%) from 2020

Liabilities

Down

$10,036,222

Down $125,467 (-1.2%) from 2020

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin41st percentile

Revenue

Up

$1,204,218

Up $223,200 (+23%) from 2020

Expenses

Up

$1,461,377

Up $72,729 (+5.2%) from 2020

Net Income

Up

-$257,159

Up $150,471 (+37%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$15M$10M$5.0M$0-$5.0M-$10MAssets 2011: $7,850,342Liabilities 2011: $9,906,365Net Assets 2011: -$2,056,0232011Assets 2012: $7,568,572Liabilities 2012: $9,920,796Net Assets 2012: -$2,352,2242012Assets 2013: $7,291,898Liabilities 2013: $9,971,574Net Assets 2013: -$2,679,6762013Assets 2016: $6,213,861Liabilities 2016: $9,938,798Net Assets 2016: -$3,724,9372016Assets 2017: $5,947,364Liabilities 2017: $9,991,187Net Assets 2017: -$4,043,8232017Assets 2018: $5,529,211Liabilities 2018: $9,941,640Net Assets 2018: -$4,412,4292018Assets 2019: $5,119,977Liabilities 2019: $9,993,279Net Assets 2019: -$4,873,3022019Assets 2020: $4,880,757Liabilities 2020: $10,161,689Net Assets 2020: -$5,280,9322020Assets 2021: $4,498,131Liabilities 2021: $10,036,222Net Assets 2021: -$5,538,0912021Assets 2022: $4,189,471Liabilities 2022: $10,073,395Net Assets 2022: -$5,883,9242022Assets 2023: $3,946,519Liabilities 2023: $10,148,663Net Assets 2023: -$6,202,1442023Assets 2024: $3,630,034Liabilities 2024: $10,257,057Net Assets 2024: -$6,627,0232024

Highlighted filing

2021

Assets$4,498,131
Liabilities$10,036,222
Net Assets-$5,538,091
Open 2021 Filing

Operations Trend

Revenue Growth86th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $800,688Expenses 2011: $1,097,913Net Income 2011: -$297,2252011Revenue 2012: $799,958Expenses 2012: $1,096,159Net Income 2012: -$296,2012012Revenue 2013: $797,627Expenses 2013: $1,125,079Net Income 2013: -$327,4522013Revenue 2016: $872,473Expenses 2016: $1,225,513Net Income 2016: -$353,0402016Revenue 2017: $881,686Expenses 2017: $1,200,572Net Income 2017: -$318,8862017Revenue 2018: $871,256Expenses 2018: $1,239,862Net Income 2018: -$368,6062018Revenue 2019: $861,990Expenses 2019: $1,322,863Net Income 2019: -$460,8732019Revenue 2020: $981,018Expenses 2020: $1,388,648Net Income 2020: -$407,6302020Revenue 2021: $1,204,218Expenses 2021: $1,461,377Net Income 2021: -$257,1592021Revenue 2022: $1,224,392Expenses 2022: $1,570,225Net Income 2022: -$345,8332022Revenue 2023: $1,240,604Expenses 2023: $1,558,824Net Income 2023: -$318,2202023Revenue 2024: $1,225,633Expenses 2024: $1,650,512Net Income 2024: -$424,8792024

Highlighted filing

2021

Revenue$1,204,218
Expenses$1,461,377
Net Income-$257,159
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 31, 2022
Return Version
2021v4.0
Gross Receipts
$1,204,218
Mission and Program Overview

Mission

To provide housing for low income seniors

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,178,076$3,824,988▼ $353,088
Prepaid Expenses and Deferred Charges$54,759$59,271▲ $4,512
Cash and Non-Interest-Bearing Accounts$15,125$51,557▲ $36,432
Intangible Assets$11,814$11,326▼ $488
Accounts Receivable$95,942$3,069▼ $92,873
Total Assets$4,880,757$4,498,131▼ $382,626
Other Assets Total$525,041$547,920▲ $22,879
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,707,300$9,707,300→ $0
Accounts Payable and Accrued Expenses$178,473$233,484▲ $55,011
Other Liabilities$222,948$58,143▼ $164,805
Escrow Account Liability$22,041$23,527▲ $1,486
Unsecured Notes Loans Payable$13,900--
Deferred Revenue$17,027$13,768▼ $3,259
Total Liabilities$10,161,689$10,036,222▼ $125,467
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,280,932$-5,538,091▼ $257,159
Total Net Assets Fund Balance$-5,280,932$-5,538,091▼ $257,159
Total Liabilities and Net Assets / Fund Balance$4,880,757$4,498,131▼ $382,626

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,786,014$5,833,494$9,619,508
Equipment-$152,045$152,045
Land$38,974-$38,974
Other Assets Org$8,184--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Msgr Donald SakanoChairman
Ken SingletonDirector
Kenneth BrowneDirector
Rev Joseph FrancoDirector
Bruno CasolariSnr VP/CEO
Kobina ArhinSVP/CEO
Rev Mark CreganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,900
Program Service Revenue
$1,189,999
Investment Income
$319
Other Revenue
$0
Change in Net Assets
$-257,159

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,204,218
Total Revenue per Audited Statements
$1,204,218
Total Revenue per Form 990
$1,204,218
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,250,857
Salaries, Compensation, and Employee Benefits$210,520
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$353,576--$353,576
Other Salaries and Wages$150,430--$150,430
Fees for Services Management-$93,348-$93,348
Other Expenses$86,557--$86,557
All Other Expenses$73,410--$73,410
Insurance$63,741--$63,741
Other Employee Benefits$51,851--$51,851
Office Expenses$32,563--$32,563
Fees for Services Accounting-$14,496-$14,496
Payroll Taxes$8,239--$8,239
Fees for Services Other$1,622--$1,622
Interest$845--$845
Fees for Services Legal$395--$395
Total Functional Expenses$1,353,533$107,844$0$1,461,377

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,461,377
Total Expenses per Audited Statements$1,461,377
Total Expenses per Form 990$1,461,377
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$58,143
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

“The organization's 990 is reviwed by the audit and finance committee before it is finalized and issued.”

Form 990, Page 6, Part VI, Line 12C

“The organization regulary sends out an annual questionnaire to the board members and staff.”

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

“The organization's process for determining compensation is performed by the board of directors, reviews and approves the compensation on an annual basis. All employees are currently under a collective bargaining agreement.”

Form 990, Page 6, Part VI, Line 19

“Documents, which are public records, are available from the ny secretary of state.”

Filing and Contact Details

Filer

Filer Name
Highbridge Senior Hdfc
EIN
13-4094682
Phone
7182933100
Address
1465 NELSON AVENUE RM/STE A, BRONX, NY 10452

Signing Officer

Name
Kobina Arhin
Title
SVP/CEO
Phone
7182933100
Signed
2022-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Msgr Donald Sakano
Formed
2001
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
A Gary Aaronson CPA Pllc
Address
42 WEST 38TH STREET SUITE 1003, NEW YORK, NY 10018-0060
Preparer
A Gary Aaronson
Phone
2126845770
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The organization holds security deposits from tenants in an escrow account. These deposits are returned to the tenants once they move out of the apartment.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt123527
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt211095
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt38184
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CASH MINIMUM DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3INVESTMENT -OPERATIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt058143
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/RevenueSubtotalAmt01204218
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0547920
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IRS990ScheduleD/TotalLiabilityAmt058143
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1KOBINA ARHIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SNR VP/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SVP/CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S 990 IS REVIWED BY THE AUDIT AND FINANCE COMMITTEE BEFORE IT IS FINALIZED AND ISSUED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REGULARY SENDS OUT AN ANNUAL QUESTIONNAIRE TO THE BOARD MEMBERS AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S PROCESS FOR DETERMINING COMPENSATION IS PERFORMED BY THE BOARD OF DIRECTORS, REVIEWS AND APPROVES THE COMPENSATION ON AN ANNUAL BASIS. ALL EMPLOYEES ARE CURRENTLY UNDER A COLLECTIVE BARGAINING AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS, WHICH ARE PUBLIC RECORDS, ARE AVAILABLE FROM THE NY SECRETARY OF STATE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt3C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt4C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt5C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt6C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt7C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt8C CORP
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd6NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd7NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt6HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt7HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0JESUP ONE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1JESUP TWO INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2NELSON SENIOR INC

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
$4,498,131
Liabilities
$10,036,222
Net assets
-$5,538,091
Revenue
$1,204,218
Expenses
$1,461,377
Net income
-$257,159
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.63$10.3$6.63$1.23$1.65$0.42
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.95$10.1$6.20$1.24$1.56$0.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.19$10.1$5.88$1.22$1.57$0.35
2021Detailed filing. Detailed filing data is available for this year.$4.50$10.0$5.54$1.20$1.46$0.26
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.88$10.2$5.28$0.98$1.39$0.41
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.12$9.99$4.87$0.86$1.32$0.46
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.53$9.94$4.41$0.87$1.24$0.37
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.95$9.99$4.04$0.88$1.20$0.32
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.21$9.94$3.72$0.87$1.23$0.35
2013Summary only. Only limited summary data is available for this year.$7.29$9.97$2.68$0.80$1.13$0.33
2012Summary only. Only limited summary data is available for this year.$7.57$9.92$2.35$0.80$1.10$0.30
2011Summary only. Only limited summary data is available for this year.$7.85$9.91$2.06$0.80$1.10$0.30