Civic Intelligence

Fulton Jefferson Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 13-4122332

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

902 Broadway 13th FloorNew York, NY 10010

(212) 243-9090

Siviq Scores

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

Liabilities / Assets

96th percentile

1.75x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

77th percentile

7.63x

Higher debt load relative to revenue than 77% of similar nonprofits.

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

Net Margin

18th percentile

-31%

Higher net margin than 18% of similar nonprofits.

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

Top Officer Pay

97th percentile

$990,213

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 85.2% of source-year revenue.

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

Asset Growth

20th percentile

-4.0%

Faster asset growth than 20% of similar nonprofits.

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

Revenue Growth

69th percentile

11%

Faster revenue growth than 69% of similar nonprofits.

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

Assets

Down

$5,073,164

Down $211,946 (-4.0%) from 2022

Net Assets

Down

-$3,796,791

Down $362,781 (-11%) from 2022

Liabilities

Up

$8,869,955

Up $150,835 (+1.7%) from 2022

Revenue

Up

$1,162,270

Up $115,511 (+11%) from 2022

Expenses

Down

$1,525,051

Down $56,293 (-3.6%) from 2022

Net Income

Up

-$362,781

Up $171,804 (+32%) from 2022

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 2017: $7,139,290Liabilities 2017: $8,319,310Net Assets 2017: -$1,180,0202017Assets 2018: $6,988,217Liabilities 2018: $8,543,477Net Assets 2018: -$1,555,2602018Assets 2019: $6,716,952Liabilities 2019: $8,695,876Net Assets 2019: -$1,978,9242019Assets 2020: $6,199,497Liabilities 2020: $8,658,385Net Assets 2020: -$2,458,8882020Assets 2021: $5,678,741Liabilities 2021: $8,578,166Net Assets 2021: -$2,899,4252021Assets 2022: $5,285,110Liabilities 2022: $8,719,120Net Assets 2022: -$3,434,0102022Assets 2023: $5,073,164Liabilities 2023: $8,869,955Net Assets 2023: -$3,796,7912023Assets 2024: $4,736,272Liabilities 2024: $8,858,653Net Assets 2024: -$4,122,3812024

Highlighted filing

2023

Assets$5,073,164
Liabilities$8,869,955
Net Assets-$3,796,791

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2017: $65,497Expenses 2017: $88,330Net Income 2017: -$22,8332017Revenue 2018: $1,011,903Expenses 2018: $1,386,568Net Income 2018: -$374,6652018Revenue 2019: $1,029,529Expenses 2019: $1,453,261Net Income 2019: -$423,7322019Revenue 2020: $980,124Expenses 2020: $1,460,088Net Income 2020: -$479,9642020Revenue 2021: $1,011,328Expenses 2021: $1,451,865Net Income 2021: -$440,5372021Revenue 2022: $1,046,759Expenses 2022: $1,581,344Net Income 2022: -$534,5852022Revenue 2023: $1,162,270Expenses 2023: $1,525,051Net Income 2023: -$362,7812023Revenue 2024: $1,245,588Expenses 2024: $1,571,178Net Income 2024: -$325,5902024

Highlighted filing

2023

Revenue$1,162,270
Expenses$1,525,051
Net Income-$362,781
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$1,162,270
Mission and Program Overview

Mission

Fulton jefferson housing development fund corporation was formed to own and operate a 107-unit residential apartment complex located in the borough of bronx, ny, to provide low income housing.

Fulton jefferson hdfc was formed to own and operate a 107-unit residential apartment complex located in the borough of bronx, ny, to provide low income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,580,739$3,200,972▼ $379,767
Savings and Temporary Cash Investments$1,373,044$1,539,035▲ $165,991
Prepaid Expenses and Deferred Charges$142,292$171,745▲ $29,453
Accounts Receivable$96,717$80,910▼ $15,807
Cash and Non-Interest-Bearing Accounts$85,040$73,495▼ $11,545
Total Assets$5,285,110$5,073,164▼ $211,946
Other Assets Total$7,278$7,007▼ $271
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,014,160$8,015,988▲ $1,828
Other Liabilities$438,141$524,948▲ $86,807
Accounts Payable and Accrued Expenses$259,146$314,232▲ $55,086
Deferred Revenue$7,673$14,787▲ $7,114
Total Liabilities$8,719,120$8,869,955▲ $150,835
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,434,010$-3,796,791▼ $362,781
Total Net Assets Fund Balance$-3,434,010$-3,796,791▼ $362,781
Total Liabilities and Net Assets / Fund Balance$5,285,110$5,073,164▼ $211,946

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,863,778$9,142,389$12,006,167
Equipment$337,189$208,266$545,455
Land$5-$5
Compensation and Service Providers

Board Members and Trustees

NameTitle
Adam WeinsteinPresident/CEO
Matthew KellyVice President
Michael WadmanVice President
James Robert Pigott JrVice President and Secreta
Lukeman OgunyinkaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,062,046
Investment Income
$42,285
Other Revenue
$57,939
Change in Net Assets
$-362,781

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,162,270
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,162,270
Total Revenue per Form 990
$1,162,270
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,252,853
Salaries, Compensation, and Employee Benefits$272,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$480,041--$480,041
Occupancy$304,256--$304,256
Other Salaries and Wages$176,307--$176,307
Fees for Services Management-$112,897-$112,897
Other Employee Benefits$64,074--$64,074
Insurance$57,002--$57,002
Office Expenses$42,861--$42,861
Fees for Services Other$877$30,418-$31,295
Interest$26,846--$26,846
Other Expenses$21,498--$21,498
Pension Plan Contributions$16,673--$16,673
Payroll Taxes$15,144--$15,144
Fees for Services Accounting-$8,675-$8,675
Fees for Services Legal-$4,171-$4,171
Total Functional Expenses$1,368,890$156,161$0$1,525,051

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,525,051
Total Expenses per Audited Statements$1,525,051
Total Expenses per Form 990$1,525,051
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Partnership Management Fees Payable$305,369
Accrued Interest Payable$161,965
TENANTS' SECURITY DEPOSITS$57,614
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Fulton jefferson housing development fund corporation (the reporting organization)has a contract with phipps houses services, inc. ("phsi") to provide property management services to the reporting organization, which includes billing and collecting rent, paying the entity's bills and maintaining the property. Phsi is wholly owned by phipps houses (tax-exempt under irc section 501(c)(4) ein: 11-1187480). None of the current or former officers, directors, trustees, or key employees listed in part vii, section a, were compensated by phsi (i.e., the provider of management services) for services provided to the filing organization and related organizations during the calendar year ending with or within the organization's tax year.

Form 990, Part VI, Section A, Line 6

The sole member of the organization is phipps houses, a related 501(c)(4) organization.

Form 990, Part VI, Section A, Line 7A

As the sole member of the organization, phipps houses has the right to elect the members of the organization's board of directors.

Form 990, Part VI, Section A, Line 7B

Under new york state law, certain governance decisions require membership approval.

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

Members of the organization's governing body review the form 990 for accuracy of content and discuss as necessary.

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

Officers and directors must complete and certify annually a list of conflicts of interest.

Form 990, Part VI, Section B, Line 15

The organization does not compensate any officers or key employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

FORM 990, PART VII, SECTION A:

The compensation of the president, vice presidents, secretary and treasurer reflects their contributions to not only fulton jefferson housing development fund corporation but to all of its affiliated entities. On a consolidated basis, the phipps houses group has annual revenue in excess of over $100 million and assets currently of almost $2 billion.

Filing and Contact Details

Filer

Filer Name
Fulton Jefferson Housing Development
EIN
13-4122332
Phone
2122439090
Address
902 BROADWAY 13TH FLOOR, NEW YORK, NY 10010

Signing Officer

Name
Lukeman Ogunyinka
Title
Treasurer
Phone
2122439090
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Weinstein
Formed
2000
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
0
Employees
5
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky CPA
Phone
2122970400
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Management has analyzed the tax positions taken by the corporation and has concluded that, as of december 31, 2023, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. Accordingly, these financial statements do not reflect a provision for income taxes and the corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the corporation are subject to examination by the irs for a period of three years. While no income tax returns are currently being examined by the irs, tax years since 2020 remain open.

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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01539035
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt09142389
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012006167
IRS990ScheduleD/EquipmentGrp/BookValueAmt0337189
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0208266
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0545455
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01525051
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt05
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0305369
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1161965
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt257614
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PARTNERSHIP MANAGEMENT FEES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01162270
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01525051
IRS990ScheduleD/TotalLiabilityAmt0524948
IRS990ScheduleD/TotalRevenuePerForm990Amt01162270
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01162270
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01525051
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt0135000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt158000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt260000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt340000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt450000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0660637
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1269887
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2267740
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3262790
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4224320
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt156202
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt256202
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt356202
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt456202
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt028824
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt123502
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt217051
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt31813
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt46602
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt022500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt122500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt222500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ADAM WEINSTEIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JAMES ROBERT PIGOTT JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MATTHEW KELLY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3MICHAEL WADMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4LUKEMAN OGUNYINKA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VICE PRESIDENT AND SECRETA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2423493
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3360805
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt4337124
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ADAM WEINSTEIN, PRESIDENT, IS A PARTICIPANT IN A SECTION 457(F) PLAN THAT REQUIRES HIM TO PERFORM SERVICES FOR A PERIOD OF TIME. HE HAS RECEIVED ANNUAL AWARDS BEGINNING IN 2017 AND (CONSISTENT WITH IRS FORM 990, SCHEDULE J INSTRUCTIONS) THESE AMOUNTS ARE TREATED AS ACCRUED OR EARNED RATABLY OVER THE COURSE OF THE SERVICE PERIOD. $87,050 IS REPORTED AS EARNED DURING THE REPORTING PERIOD WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C).
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1PHIPPS HOUSES, AN AFFILIATE OF THE REPORTING ORGANIZATION PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. PHIPPS HOUSES HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 4B
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FULTON JEFFERSON HOUSING DEVELOPMENT FUND CORPORATION (THE REPORTING ORGANIZATION)HAS A CONTRACT WITH PHIPPS HOUSES SERVICES, INC. ("PHSI") TO PROVIDE PROPERTY MANAGEMENT SERVICES TO THE REPORTING ORGANIZATION, WHICH INCLUDES BILLING AND COLLECTING RENT, PAYING THE ENTITY'S BILLS AND MAINTAINING THE PROPERTY. PHSI IS WHOLLY OWNED BY PHIPPS HOUSES (TAX-EXEMPT UNDER IRC SECTION 501(C)(4) EIN: 11-1187480). NONE OF THE CURRENT OR FORMER OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES LISTED IN PART VII, SECTION A, WERE COMPENSATED BY PHSI (I.E., THE PROVIDER OF MANAGEMENT SERVICES) FOR SERVICES PROVIDED TO THE FILING ORGANIZATION AND RELATED ORGANIZATIONS DURING THE CALENDAR YEAR ENDING WITH OR WITHIN THE ORGANIZATION'S TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER OF THE ORGANIZATION IS PHIPPS HOUSES, A RELATED 501(C)(4) ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AS THE SOLE MEMBER OF THE ORGANIZATION, PHIPPS HOUSES HAS THE RIGHT TO ELECT THE MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNDER NEW YORK STATE LAW, CERTAIN GOVERNANCE DECISIONS REQUIRE MEMBERSHIP APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEMBERS OF THE ORGANIZATION'S GOVERNING BODY REVIEW THE FORM 990 FOR ACCURACY OF CONTENT AND DISCUSS AS NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OFFICERS AND DIRECTORS MUST COMPLETE AND CERTIFY ANNUALLY A LIST OF CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE COMPENSATION OF THE PRESIDENT, VICE PRESIDENTS, SECRETARY AND TREASURER REFLECTS THEIR CONTRIBUTIONS TO NOT ONLY FULTON JEFFERSON HOUSING DEVELOPMENT FUND CORPORATION BUT TO ALL OF ITS AFFILIATED ENTITIES. ON A CONSOLIDATED BASIS, THE PHIPPS HOUSES GROUP HAS ANNUAL REVENUE IN EXCESS OF OVER $100 MILLION AND ASSETS CURRENTLY OF ALMOST $2 BILLION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VII, SECTION A:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd70
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd80

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