Civic Intelligence

Newset II Hdfc

990 • Fiscal year 2013 • EIN 13-4101214

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 29, 2014

247 W 37th STREET 4TH FLOOR10018

(212) 265-6530

Siviq Scores

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

Liabilities / Assets

49th percentile

0.90x

Higher debt load relative to assets than 49% of similar nonprofits.

2013 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

47th percentile

1.97x

Higher debt load relative to revenue than 47% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Net Margin

92nd percentile

58%

Higher net margin than 92% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

81st percentile

$196,554

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Asset Growth

95th percentile

39%

Faster asset growth than 95% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$3,203,046

Up $892,040 (+39%) from 2012

Net Assets

Up

$320,573

Up $848,446 (+161%) from 2012

Liabilities

Up

$2,882,473

Up $43,594 (+1.5%) from 2012

Revenue

$1,465,737

No earlier filing loaded for comparison.

Expenses

Up

$617,291

Up $289,780 (+88%) from 2012

Net Income

$848,446

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2010: $2,382,568Liabilities 2010: $2,834,334Net Assets 2010: -$451,7662010Assets 2011: $2,316,896Liabilities 2011: $2,829,074Net Assets 2011: -$512,1782011Assets 2012: $2,311,006Liabilities 2012: $2,838,879Net Assets 2012: -$527,8732012Assets 2013: $3,203,046Liabilities 2013: $2,882,473Net Assets 2013: $320,5732013Assets 2014: $3,608,832Liabilities 2014: $3,319,953Net Assets 2014: $288,8792014Assets 2015: $3,546,125Liabilities 2015: $3,346,595Net Assets 2015: $199,5302015Assets 2016: $3,484,234Liabilities 2016: $3,326,340Net Assets 2016: $157,8942016Assets 2017: $3,403,185Liabilities 2017: $632,564Net Assets 2017: $2,770,6212017Assets 2018: $3,301,226Liabilities 2018: $599,192Net Assets 2018: $2,702,0342018Assets 2019: $3,243,732Liabilities 2019: $581,145Net Assets 2019: $2,662,5872019Assets 2020: $3,196,916Liabilities 2020: $619,557Net Assets 2020: $2,577,3592020Assets 2021: $5,250,375Liabilities 2021: $8,111,091Net Assets 2021: -$2,860,7162021Assets 2022: $5,069,728Liabilities 2022: $8,004,776Net Assets 2022: -$2,935,0482022Assets 2023: $4,828,643Liabilities 2023: $8,164,710Net Assets 2023: -$3,336,0672023Assets 2024: $4,753,899Liabilities 2024: $8,533,761Net Assets 2024: -$3,779,8622024

Highlighted filing

2013

Assets$3,203,046
Liabilities$2,882,473
Net Assets$320,573

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $298,6672010Expenses 2011: $304,2482011Expenses 2012: $327,5112012Revenue 2013: $1,465,737Expenses 2013: $617,291Net Income 2013: $848,4462013Revenue 2014: $672,010Expenses 2014: $703,704Net Income 2014: -$31,6942014Revenue 2015: $314,143Expenses 2015: $675,233Net Income 2015: -$361,0902015Revenue 2016: $395,890Expenses 2016: $650,650Net Income 2016: -$254,7602016Revenue 2017: $3,168,765Expenses 2017: $692,478Net Income 2017: $2,476,2872017Revenue 2018: $248,001Expenses 2018: $686,300Net Income 2018: -$438,2992018Revenue 2019: $278,248Expenses 2019: $669,601Net Income 2019: -$391,3532019Revenue 2020: $246,417Expenses 2020: $707,904Net Income 2020: -$461,4872020Revenue 2021: $1,228,786Expenses 2021: $1,208,215Net Income 2021: $20,5712021Revenue 2022: $1,661,603Expenses 2022: $1,735,935Net Income 2022: -$74,3322022Revenue 2023: $1,517,729Expenses 2023: $1,918,748Net Income 2023: -$401,0192023Revenue 2024: $1,542,832Expenses 2024: $1,986,627Net Income 2024: -$443,7952024

Highlighted filing

2013

Revenue$1,465,737
Expenses$617,291
Net Income$848,446
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 29, 2014
Return Version
2013v3.1
Gross Receipts
$1,465,737
Mission and Program Overview

Mission

To provide affordable residential housing to qualifying low-income families in the bronx, new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,082,798$2,929,736▲ $846,938
Cash and Non-Interest-Bearing Accounts$115,239$114,838▼ $401
Savings and Temporary Cash Investments-$92,224-
Accounts Receivable$7,363$34,677▲ $27,314
Prepaid Expenses and Deferred Charges$13,719$16,461▲ $2,742
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,311,006$3,203,046▲ $892,040
Other Assets Total$91,887$15,110▼ $76,777
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,698,931$2,698,931→ $0
Other Liabilities$115,283$114,132▼ $1,151
Accounts Payable and Accrued Expenses$24,665$69,410▲ $44,745
Total Liabilities$2,838,879$2,882,473▲ $43,594
Net Assets / Fund Balance
Unrestricted Net Assets$-527,873$320,573▲ $848,446
Total Net Assets Fund Balance$-527,873$320,573▲ $848,446
Total Liabilities and Net Assets / Fund Balance$2,311,006$3,203,046▲ $892,040

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,811,046$920,626$3,731,672
Land$90,002-$90,002
Equipment$28,355$18,721$47,076
Other Land Buildings$333$9,667$10,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Carol LambergPresident
John DoyleVice President
Susan ColeVice President
Lee WarshavskySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$900,000
Program Service Revenue
$545,855
Investment Income
$-75,205
Other Revenue
$95,087
Change in Net Assets
$848,446

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential1$900,000Assessed Value
Total Noncash Contributions1$900,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,465,737
Total Revenue per Audited Statements
$1,465,737
Total Revenue per Form 990
$1,465,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$554,838
Salaries, Compensation, and Employee Benefits$62,453
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$89,520--$89,520
Other Salaries and Wages$62,453--$62,453
Insurance$52,198--$52,198
All Other Expenses$5,458$44,263-$49,721
Other Expenses$124,668$29,004-$29,004
Total Functional Expenses$466,270$151,021$0$617,291

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$617,291
Total Expenses per Audited Statements$617,291
Total Expenses per Form 990$617,291
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lee WarshavskySee BelowSee BelowNo$151,572

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$99,022
Tenant Security Deposit$15,110
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Lee warshavsky is the son of frances levenson esq., a board member of the organization and a board member of related tax-exempt organizations.

Form 990, Part VI, Line 11B: Form 990 Review Process

The board of directors hold an annual meeting in which the outside auditors conduct a presentation and explanation of the certified audited financial statements and the annual tax returns, as well as a discussion of internal controls.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The conflict of interests policy is renewed annually with all officers of the organization. Potential conflicts are brought to the attention of the executive committee for review and officers found to have conflicts of interest are asked to resign or abstain from involvement in all related projects.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization provides all of the governing documents,financial statements and tax returns upon request. Also, on an annual basis the organization timely files its annual report, financial statements and federal tax returns with the new york state office of the attorney general (nysoag), charities bureau. The annual filing report (char 500) and the accompanying financial statements and federal tax returns are posted by the office of the nysoag on its website.

Form 990, Part VI, Line 20

Effective JANUARY 1, 2014, MOLLY WASOW PARK WAS APPOINTED THE SECRETARY OF THE ORGANIZATION AND CURRENTLY IS THE CUSTODIAN OF THE ORGANIZATION'S BOOKS AND RECORDS.

Filing and Contact Details

Filer

EIN
13-4101214
Phone
2122656530

Signing Officer

Name
Lee Warshavsky
Title
Secretary
Signed
2014-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Warshavsky
Formed
1999
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
1
Employees
2

Preparer

Preparer
Stuart Koch
Phone
2126310700
Supplemental Narrative

Additional Explanations

Bargain Purchase - Donation and Gift Contribution

In 2013 the Organization entered into a bargain purchase, charitable contribution and gift transaction with Department of Housing Preservation and Development of the City of New York to acquire a building and land located on 1484 Inwood Avenue in the Bronx, New York City, in furtherance of its exempt activities. The bargain purchase/gift contribution consisted of paying the City one dollar and receiving land and building with a deemed assessed value and fair market value of $900,000. The NYC Department of Finance issued the deed on the 26th day of June 2013, declaring the value of $900,000.

New York State Char 500 Form

In 2014, alexandra sewell, president, became officer of the organization and was authorized to sign the new york state char 500 form, filed on behalf of the organization with the new york state attorney general.

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from income tax under Section 501(c)(3) of the U.S. Internal Revenue Service Code (the Code).Management has determined that the company had no uncertain tax positions that would require financial statement recognition. The Company is no longer subject to income tax examination by federal, state or local tax authorities in the United States for years before 2010, which is the standard statute of limitations look-back period.

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IRS990/ProgramServiceRevenueGrp/Desc2RENTS-COLLEGE ACCESS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1524955
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1524955
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE ORGANIZATION PROVIDES SPACE FOR The College Access Program provides free educational counseling to encourage junior and senior high school students to apply successfully for advanced education.RENTAL REVENUE RECEIVED FROM AN AFFILIATED RELATED PARTY.
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IRS990/PYTotalExpensesAmt0327511
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt092224
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01484686
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeCYPct00.00100
IRS990ScheduleA/InvestmentIncomePYPct00.00310
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt08954
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0189889
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.92530
IRS990ScheduleA/PublicSupportPY509Pct00.90610
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02577159
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IRS990ScheduleD/BuildingsGrp/BookValueAmt02811046
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0920626
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03731672
IRS990ScheduleD/EquipmentGrp/BookValueAmt028355
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018721
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt09667
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt099022
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from income tax under Section 501(c)(3) of the U.S. Internal Revenue Service Code (the Code).Management has determined that the company had no uncertain tax positions that would require financial statement recognition. The Company is no longer subject to income tax examination by federal, state or local tax authorities in the United States for years before 2010, which is the standard statute of limitations look-back period.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt0114132
IRS990ScheduleD/TotalRevenuePerForm990Amt01465737
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01465737
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1127844
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2128350
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt212699
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt012143
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt113576
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt213576
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt117496
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt29646
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CAROL LAMBERG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOHN DOYLE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2LEE WARSHAVSKY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Vice President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2Secretary
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0196554
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1158916

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.75$8.53$3.78$1.54$1.99$0.44
2023Detailed filing. Detailed filing data is available for this year.$4.83$8.16$3.34$1.52$1.92$0.40
2022Detailed filing. Detailed filing data is available for this year.$5.07$8.00$2.94$1.66$1.74$0.07
2021Detailed filing. Detailed filing data is available for this year.$5.25$8.11$2.86$1.23$1.21$0.02
2020Detailed filing. Detailed filing data is available for this year.$3.20$0.62$2.58$0.25$0.71$0.46
2019Detailed filing. Detailed filing data is available for this year.$3.24$0.58$2.66$0.28$0.67$0.39
2018Detailed filing. Detailed filing data is available for this year.$3.30$0.60$2.70$0.25$0.69$0.44
2017Detailed filing. Detailed filing data is available for this year.$3.40$0.63$2.77$3.17$0.69$2.48
2016Detailed filing. Detailed filing data is available for this year.$3.48$3.33$0.16$0.40$0.65$0.25
2015Detailed filing. Detailed filing data is available for this year.$3.55$3.35$0.20$0.31$0.68$0.36
2014Detailed filing. Detailed filing data is available for this year.$3.61$3.32$0.29$0.67$0.70$0.03
2013Detailed filing. Detailed filing data is available for this year.$3.20$2.88$0.32$1.47$0.62$0.85
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$2.84$0.53$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$2.83$0.51$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$2.83$0.45$0.30