Civic Intelligence

Sjmc Senior Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 13-4103604

Oct 01, 2022 to Sep 30, 2023 • Filed on Jul 03, 2024

Organization ProfileN/A
122 South BroadwayYonkers, NY 10701

(914) 969-6159

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.58x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • NTEE L • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

12.35x

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

2023 filings • NTEE L • $5M-$10M nonprofits • Source year 2023

Net Margin

26th percentile

-21%

Higher net margin than 26% of similar nonprofits.

2023 filings • NTEE L • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

30th percentile

$0

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE L • $5M-$10M nonprofits • Source year 2023

Asset Growth

30th percentile

-2.5%

Faster asset growth than 30% of similar nonprofits.

2023 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

10th percentile

-25%

Faster revenue growth than 10% of similar nonprofits.

2023 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$7,704,639

Down $197,356 (-2.5%) from 2022

Net Assets

Down

-$4,489,921

Down $205,843 (-4.8%) from 2022

Liabilities

Up

$12,194,560

Up $8,487 (+0.1%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin26th percentile

Revenue

Down

$987,732

Down $328,722 (-25%) from 2022

Expenses

Down

$1,193,575

Down $16,149 (-1.3%) from 2022

Net Income

Down

-$205,843

Down $312,573 (-293%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $11,023,773Liabilities 2010: $12,606,873Net Assets 2010: -$1,583,1002010Assets 2011: $10,833,558Liabilities 2011: $12,581,751Net Assets 2011: -$1,748,1932011Assets 2012: $10,648,065Liabilities 2012: $12,608,068Net Assets 2012: -$1,960,0032012Assets 2013: $10,292,486Liabilities 2013: $12,601,496Net Assets 2013: -$2,309,0102013Assets 2014: $10,032,944Liabilities 2014: $12,611,622Net Assets 2014: -$2,578,6782014Assets 2015: $9,707,527Liabilities 2015: $12,637,359Net Assets 2015: -$2,929,8322015Assets 2016: $9,452,176Liabilities 2016: $12,646,865Net Assets 2016: -$3,194,6892016Assets 2017: $9,266,617Liabilities 2017: $12,645,319Net Assets 2017: -$3,378,7022017Assets 2018: $9,040,681Liabilities 2018: $12,651,015Net Assets 2018: -$3,610,3342018Assets 2019: $8,696,561Liabilities 2019: $12,646,861Net Assets 2019: -$3,950,3002019Assets 2020: $8,420,688Liabilities 2020: $12,608,756Net Assets 2020: -$4,188,0682020Assets 2021: $8,204,570Liabilities 2021: $12,595,378Net Assets 2021: -$4,390,8082021Assets 2022: $7,901,995Liabilities 2022: $12,186,073Net Assets 2022: -$4,284,0782022Assets 2023: $7,704,639Liabilities 2023: $12,194,560Net Assets 2023: -$4,489,9212023Assets 2024: $7,401,755Liabilities 2024: $12,210,518Net Assets 2024: -$4,808,7632024Assets 2025: $7,224,398Liabilities 2025: $12,186,556Net Assets 2025: -$4,962,1582025

Highlighted filing

2023

Assets$7,704,639
Liabilities$12,194,560
Net Assets-$4,489,921
Open 2023 Filing

Operations Trend

Revenue Growth10th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $984,4602010Revenue 2011: $679,188Expenses 2011: $844,281Net Income 2011: -$165,0932011Expenses 2012: $886,6802012Expenses 2013: $1,021,5292013Revenue 2014: $670,308Expenses 2014: $939,976Net Income 2014: -$269,6682014Revenue 2015: $668,491Expenses 2015: $1,019,645Net Income 2015: -$351,1542015Revenue 2016: $672,988Expenses 2016: $937,845Net Income 2016: -$264,8572016Revenue 2017: $787,212Expenses 2017: $971,225Net Income 2017: -$184,0132017Revenue 2018: $774,005Expenses 2018: $1,005,637Net Income 2018: -$231,6322018Revenue 2019: $778,556Expenses 2019: $1,118,522Net Income 2019: -$339,9662019Revenue 2020: $828,831Expenses 2020: $1,066,599Net Income 2020: -$237,7682020Revenue 2021: $875,670Expenses 2021: $1,078,410Net Income 2021: -$202,7402021Revenue 2022: $1,316,454Expenses 2022: $1,209,724Net Income 2022: $106,7302022Revenue 2023: $987,732Expenses 2023: $1,193,575Net Income 2023: -$205,8432023Revenue 2024: $1,019,380Expenses 2024: $1,338,222Net Income 2024: -$318,8422024Revenue 2025: $1,115,547Expenses 2025: $1,268,942Net Income 2025: -$153,3952025

Highlighted filing

2023

Revenue$987,732
Expenses$1,193,575
Net Income-$205,843
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Jul 3, 2024
Return Version
2022v5.0
Gross Receipts
$987,732
Mission and Program Overview

Mission

Provide housing to the elderly and handicapped.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,136,544$6,822,250▼ $314,294
Cash and Non-Interest-Bearing Accounts$23,751$112,588▲ $88,837
Accounts Receivable$848$40,833▲ $39,985
Prepaid Expenses and Deferred Charges$22,115$8,997▼ $13,118
Total Assets$7,901,995$7,704,639▼ $197,356
Other Assets Total$718,737$719,971▲ $1,234
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,133,700$12,133,700→ $0
Accounts Payable and Accrued Expenses$25,976$33,985▲ $8,009
Other Liabilities$26,397$26,875▲ $478
Total Liabilities$12,186,073$12,194,560▲ $8,487
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-4,284,078$-4,489,921▼ $205,843
Total Net Assets Fund Balance$-4,284,078$-4,489,921▼ $205,843
Total Liabilities and Net Assets / Fund Balance$7,901,995$7,704,639▼ $197,356

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,575,945$5,736,455$12,312,400
Land$246,030-$246,030
Other Land Buildings$0$60,446$60,446
Equipment$275$43,832$44,107
Other Assets Org$65,666--
Compensation and Service Providers
Top Officer Pay30th percentile

Board Members and Trustees

NameTitle
James J LandyPresident
Michael J SpicerVice President
Brendan R LandyDirector
Colleen WagnerDirector
Kevin CacaceDirector
Sr Andrea DixonDirector
Sr Donna DodgeDirector
Michael MinervaSecretary
Lawrence MccruddenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$947,306
Investment Income
$12,756
Other Revenue
$27,670
Change in Net Assets
$-205,843

Audited Revenue Reconciliation

Revenue per Audited Statements
$987,732
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$987,732
Total Revenue per Form 990
$987,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$843,439
Salaries, Compensation, and Employee Benefits$350,136
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$314,294--$314,294
Other Salaries and Wages$209,166$64,635-$273,801
Occupancy$153,396--$153,396
Insurance$108,303--$108,303
Fees for Services Management-$70,461-$70,461
Other Employee Benefits$45,338--$45,338
Fees for Services Accounting-$27,909-$27,909
All Other Expenses$11,437$8,475-$19,912
Payroll Taxes$16,514--$16,514
Pension Plan Contributions$14,483--$14,483
Other Expenses$8,625$19,680-$8,625
Office Expenses-$7,364-$7,364
Total Functional Expenses$995,051$198,524$0$1,193,575

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,193,575
Total Expenses per Audited Statements$1,193,575
Total Expenses per Form 990$1,193,575
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Tenant Security Deposits Payable$26,875
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The president, james j. Landy, is the father of board member, brendan r. Landy.”

Form 990, Part VI, Section A, Line 3

“The project entered into a contract with an independent management company which handles the operation of the building, all building related services, all tenant needs and services, as well as all legal, financial, and other matters.”

Form 990, Part VI, Section B, Line 11B

“The project distributes a draft copy of the irs form 990 to its board members to review; who then are provided an opportunity to make comments or inquiries. Appropriate responses are given to their satisfaction. The board approves the filing of the form at a meeting held prior to its due date.”

Form 990, Part VI, Section B, Line 12C

“Annual updates are requested in writing from board members and key people.”

Form 990, Part VI, Section B, Line 15

“The organization has the policy on an as needed basis.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are made available upon request on an as needed basis as determined by the board of directors.”

Filing and Contact Details

Filer

Filer Name
Sjmc Senior Housing Development Fund
EIN
13-4103604
Phone
9149696159
Address
122 SOUTH BROADWAY, YONKERS, NY 10701

Signing Officer

Name
James J Landy
Title
President
Phone
9149696159
Signed
2024-07-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James J Landy
Formed
2000
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
4
Volunteers
0

Preparer

Firm
Prager Metis Cpas LLC
Address
800 WESTCHESTER AVE SUITE N-400, RYE BROOK, NY 10573
Preparer
JAMES R D'ARCANGELO
Phone
9146944600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has annual board meetings to review and approve the audited financial statements. The board also approves the selection of an independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“The corporation is a nonprofit organization exempt from income taxes under section 501(c)(3) of the internal revenue code. The project's accounting policy is to provide liabilities for uncertain tax positions when a liability is probable and estimable. Management has evaluated its tax positions and has determined that there are no material uncertain tax positions that require adjustment to the financial statements. In addition, management is not aware of any violation of its tax status as an organization exempt from income taxes, nor any exposure to unrelated business income tax. The corporation's federal tax returns remain subject to examination by the relevant taxing authorities for a period of three years from when they are filed.”

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IRS990/Form990PartVIISectionAGrp/PersonNm0JAMES J LANDY
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IRS990/OtherRevenueMiscGrp/Desc1LAUNDRY/VENDING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt021250
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt16420
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt021250
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16420
IRS990/OtherRevenueTotalAmt027670
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt064635
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0209166
IRS990/OtherSalariesAndWagesGrp/TotalAmt0273801
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt016514
IRS990/PayrollTaxesGrp/TotalAmt016514
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt014483
IRS990/PensionPlanContributionsGrp/TotalAmt014483
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt022115
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08997
IRS990/PrincipalOfficerNm0JAMES J LANDY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/BusinessCd2532000
IRS990/ProgramServiceRevenueGrp/Desc0HOUSING ASSISTANCE PAY
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM SERVICES REVEN
IRS990/ProgramServiceRevenueGrp/Desc2GARAGE AND PARKING SPA
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0648620
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1294066
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24620
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0648620
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1294066
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24620
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01149
IRS990/PYOtherExpensesAmt0866633
IRS990/PYOtherRevenueAmt0406420
IRS990/PYProgramServiceRevenueAmt0908885
IRS990/PYRevenuesLessExpensesAmt0106730
IRS990/PYSalariesCompEmpBnftPaidAmt0343091
IRS990/PYTotalExpensesAmt01209724
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01316454
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-205843
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0974976
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt012756
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01149
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01049
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0706
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0698
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt016358
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0947306
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0908885
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0868201
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0770690
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0773500
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04268582
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt012756
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01149
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01049
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0706
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0698
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt016358
IRS990ScheduleA/InvestmentIncomeCYPct00.00340
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt027670
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0406420
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt06420
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt057435
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt06420
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0504365
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.89130
IRS990ScheduleA/PublicSupportPY509Pct00.89320
IRS990ScheduleA/PublicSupportTotal509Amt04268582
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0947306
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0908885
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0868201
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0770690
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0773500
IRS990ScheduleA/Total509Grp/TotalAmt04268582
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0987732
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01316454
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0875670
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0828831
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0780618
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04789305
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06575945
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05736455
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012312400
IRS990ScheduleD/EquipmentGrp/BookValueAmt0275
IRS990ScheduleD/EquipmentGrp/DepreciationAmt043832
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044107
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01193575
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0246030
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0246030
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0617051
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt126875
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt210379
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt365666
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3PAINTING RESERVE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt060446
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt060446
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026875
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0987732
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS A NONPROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT'S ACCOUNTING POLICY IS TO PROVIDE LIABILITIES FOR UNCERTAIN TAX POSITIONS WHEN A LIABILITY IS PROBABLE AND ESTIMABLE. MANAGEMENT HAS EVALUATED ITS TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. IN ADDITION, MANAGEMENT IS NOT AWARE OF ANY VIOLATION OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAXES, NOR ANY EXPOSURE TO UNRELATED BUSINESS INCOME TAX. THE CORPORATION'S FEDERAL TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY THE RELEVANT TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM WHEN THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06822250
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0719971
IRS990ScheduleD/TotalExpensesPerForm990Amt01193575
IRS990ScheduleD/TotalLiabilityAmt026875
IRS990ScheduleD/TotalRevenuePerForm990Amt0987732
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0987732
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01193575
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT, JAMES J. LANDY, IS THE FATHER OF BOARD MEMBER, BRENDAN R. LANDY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PROJECT ENTERED INTO A CONTRACT WITH AN INDEPENDENT MANAGEMENT COMPANY WHICH HANDLES THE OPERATION OF THE BUILDING, ALL BUILDING RELATED SERVICES, ALL TENANT NEEDS AND SERVICES, AS WELL AS ALL LEGAL, FINANCIAL, AND OTHER MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROJECT DISTRIBUTES A DRAFT COPY OF THE IRS FORM 990 TO ITS BOARD MEMBERS TO REVIEW; WHO THEN ARE PROVIDED AN OPPORTUNITY TO MAKE COMMENTS OR INQUIRIES. APPROPRIATE RESPONSES ARE GIVEN TO THEIR SATISFACTION. THE BOARD APPROVES THE FILING OF THE FORM AT A MEETING HELD PRIOR TO ITS DUE DATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL UPDATES ARE REQUESTED IN WRITING FROM BOARD MEMBERS AND KEY PEOPLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS THE POLICY ON AN AS NEEDED BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST ON AN AS NEEDED BASIS AS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION HAS ANNUAL BOARD MEETINGS TO REVIEW AND APPROVE THE AUDITED FINANCIAL STATEMENTS. THE BOARD ALSO APPROVES THE SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt07901995
IRS990/TotalAssetsEOYAmt07704639
IRS990/TotalAssetsGrp/BOYAmt07901995
IRS990/TotalAssetsGrp/EOYAmt07704639
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0198524
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0995051

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Filings

Displayed year

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

Open filing
Assets
$7,704,639
Liabilities
$12,194,560
Net assets
-$4,489,921
Revenue
$987,732
Expenses
$1,193,575
Net income
-$205,843
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.22$12.2$4.96$1.12$1.27$0.15
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.40$12.2$4.81$1.02$1.34$0.32
2023Detailed filing. Detailed filing data is available for this year.$7.70$12.2$4.49$0.99$1.19$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.90$12.2$4.28$1.32$1.21$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.20$12.6$4.39$0.88$1.08$0.20
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.42$12.6$4.19$0.83$1.07$0.24
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.70$12.6$3.95$0.78$1.12$0.34
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.04$12.7$3.61$0.77$1.01$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.27$12.6$3.38$0.79$0.97$0.18
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.45$12.6$3.19$0.67$0.94$0.26
2015Detailed filing. Detailed filing data is available for this year.$9.71$12.6$2.93$0.67$1.02$0.35
2014Detailed filing. Detailed filing data is available for this year.$10.0$12.6$2.58$0.67$0.94$0.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$12.6$2.31$1.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$12.6$1.96$0.89
2011Summary only. Only limited summary data is available for this year.$10.8$12.6$1.75$0.68$0.84$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$12.6$1.58$0.98