Breaking Ground IV Housing Development Fund Corporation

“Organization's process used to review form 990 the form 990 was prepared by an independent accounting firm in conjunction with the organization's finance department. The form has been reviewed for completeness and accuracy regarding mission, program activities, financials and governance by members of the corporation's management. It has also been discussed and reviewed with the bgi audit chair. The final versions were made available to each member of the board of directors prior to filing with the internal revenue service. Discussion of form 990 requirements, contents and board responsibilities occur at an annual board meeting.”

“Enforcement of conflict of interest policy the policy and annual disclosure forms are distributed to all board members, officers and management staff. Each individual is required to sign and review the disclosure form and provide information about any relationships they may have with breaking ground iv hdfc's other employees, and/or vendors that conduct business with breaking ground iv hdfc. Breaking ground iv hdfc operates under the policy of its affiliate organization, breaking ground hdfc, inc. All submissions are reviewed by human resources to determine if a conflict exists; when a conflict arises, the individuals affected are prohibited from participating in the decision-making process related to any transaction occurring with the conflicted organization. Form 990, part vi, section b, lines 13 & 14: breaking ground iv hdfc operates under the whistleblower and document retention policy of its affiliate organization, breaking ground hdfc, inc.”

“Breaking ground iv hdfc makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“In early 2020, an outbreak of a novel strain of coronavirus, ("covid-19"), emerged globally. As a result, events have occurred, including mandates from federal, state and local authorities leading to an overall decline in economic activity which could result in a loss of lease revenue and other material adverse effects to breaking ground's consolidated financial position, results of operations, and cash flows. As of december 31, 2021, the pandemic is still ongoing. Breaking ground continues to monitor the results of operations to evaluate the financial impact of the pandemic.”

“Breaking ground iv hdfc, inc. ("bgc iv") was organized on october 23, 2001, under section 402 of the not-for-profit corporation law of the state of new york. Bgc iv is a not-for-profit charitable organization exempt from income and excise taxes under section 501(c)(3) of the internal revenue code. Bgc iv was formed for the charitable purpose of owning, rehabilitating, and operating a housing project at 197 bowery, new york city (andrews").”

“Bgc iv provides an emergency safe haven and social services for individuals transitioning from homelessness to permanent housing at the andrews. The andrews is comprised of 146 short-term living units, including 138 units of safe haven transitional housing reserved for individuals served by breaking ground's street to home program and other outreach programs. For individuals not yet ready to transition into permanent housing, as well as those who may have struggled in other housing programs, the andrews offers an alternative to life on the street: private, safe, clean, and affordable short-term accommodations. On-site case management and clinical services are available at the andrews to meet the needs of its residents and to help them secure permanent housing. Breaking ground interviewed more than 200 chronically street homeless adults to better understand what features of short-term housing would be most likely to entice them off the streets. In 2003, breaking ground and the architectural league of new york held an open design competition for a new form of accommodation that would reflect their preferences. Competitors were asked to design a prototypical unit and show how 19 such units could be organized on a typical floor. The design of the andrews incorporates design elements that address clients' concerns regarding issues such as privacy and personal space, thereby gaining their trust and ultimately helping to foster their transition to permanent homes.”

“Breaking ground iv hdfc does not have its own employees or its own payroll. All employees providing services to breaking ground iv hdfc receive their w-2s from a related organization, common ground management corporation. Expenditures reported on part ix, lines 7, 8, 9 and 10 represent the portion of salary and benefits expenditures allocated to breaking ground iv hdfc based on services rendered to the organization.”

“Breaking ground iv hdfc is included within the audited financial statements of its affiliated entity, breaking ground housing development fund corporation. Breaking ground iv hdfc did not receive any federal awards, nevertheless, its affiliated entity did and thus the operations of breaking ground iv hdfc were included within the omb circular a-133 audit received by breaking ground housing development fund corporation.”