Civic Intelligence

Lewiston Itc Elderly Housing Deveolpement Fund Corporation

990 • Fiscal year 2019 • EIN 16-1571080

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 08, 2020

Organization ProfileN/A
916 Upper Mountain RoadLewiston, NY 14092

(716) 298-4966

Siviq Scores

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

Liabilities / Assets

89th percentile

1.68x

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

2019 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

81st percentile

14.64x

Higher debt load relative to revenue than 81% of similar nonprofits.

2019 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2019

Net Margin

14th percentile

-41%

Higher net margin than 14% of similar nonprofits.

2019 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

76th percentile

$31,300

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 25.4% of source-year revenue.

2019 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2019

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

2019 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

47th percentile

3.2%

Faster revenue growth than 47% of similar nonprofits.

2019 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets89th percentile

Assets

Flat

$1,071,869

Flat from 2019

Net Assets

Flat

-$728,389

Flat from 2019

Liabilities

Flat

$1,800,258

Flat from 2019

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin14th percentile

Revenue

Flat

$122,989

Flat from 2019

Expenses

Flat

$173,309

Flat from 2019

Net Income

Flat

-$50,320

Flat from 2019

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,511,733Liabilities 2010: $1,793,945Net Assets 2010: -$282,2122010Assets 2011: $1,473,071Liabilities 2011: $1,794,146Net Assets 2011: -$321,0752011Assets 2012: $1,445,820Liabilities 2012: $1,795,046Net Assets 2012: -$349,2262012Assets 2013: $1,401,671Liabilities 2013: $1,809,605Net Assets 2013: -$407,9342013Assets 2014: $1,346,460Liabilities 2014: $1,814,225Net Assets 2014: -$467,7652014Assets 2015: $1,276,720Liabilities 2015: $1,798,138Net Assets 2015: -$521,4182015Assets 2016: $1,206,735Liabilities 2016: $1,795,808Net Assets 2016: -$589,0732016Assets 2017: $1,156,939Liabilities 2017: $1,797,637Net Assets 2017: -$640,6982017Assets 2018: $1,122,138Liabilities 2018: $1,800,202Net Assets 2018: -$678,0642018Assets 2019: $1,071,869Liabilities 2019: $1,800,258Net Assets 2019: -$728,3892019Assets 2019: $1,071,869Liabilities 2019: $1,800,258Net Assets 2019: -$728,3892019Assets 2020: $1,039,251Liabilities 2020: $1,807,579Net Assets 2020: -$768,3282020Assets 2021: $1,032,981Liabilities 2021: $1,831,598Net Assets 2021: -$798,6172021Assets 2022: $973,379Liabilities 2022: $1,800,528Net Assets 2022: -$827,1492022Assets 2023: $962,731Liabilities 2023: $1,816,443Net Assets 2023: -$853,7122023Assets 2024: $926,029Liabilities 2024: $1,803,324Net Assets 2024: -$877,2952024Assets 2025: $881,371Liabilities 2025: $1,828,140Net Assets 2025: -$946,7692025

Highlighted filing

2019

Assets$1,071,869
Liabilities$1,800,258
Net Assets-$728,389
Open 2019 Filing

Operations Trend

Revenue Growth47th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $118,5362010Expenses 2011: $126,8052011Expenses 2012: $115,2282012Revenue 2013: $87,131Expenses 2013: $145,839Net Income 2013: -$58,7082013Revenue 2014: $89,600Expenses 2014: $149,431Net Income 2014: -$59,8312014Revenue 2015: $88,413Expenses 2015: $142,066Net Income 2015: -$53,6532015Revenue 2016: $88,029Expenses 2016: $155,684Net Income 2016: -$67,6552016Revenue 2017: $104,921Expenses 2017: $156,546Net Income 2017: -$51,6252017Revenue 2018: $119,127Expenses 2018: $156,493Net Income 2018: -$37,3662018Revenue 2019: $122,989Expenses 2019: $173,309Net Income 2019: -$50,3202019Revenue 2019: $122,989Expenses 2019: $173,309Net Income 2019: -$50,3202019Revenue 2020: $116,449Expenses 2020: $156,388Net Income 2020: -$39,9392020Revenue 2021: $128,514Expenses 2021: $158,803Net Income 2021: -$30,2892021Revenue 2022: $137,805Expenses 2022: $166,337Net Income 2022: -$28,5322022Revenue 2023: $150,073Expenses 2023: $176,636Net Income 2023: -$26,5632023Revenue 2024: $158,001Expenses 2024: $181,586Net Income 2024: -$23,5852024Revenue 2025: $156,185Expenses 2025: $225,659Net Income 2025: -$69,4742025

Highlighted filing

2019

Revenue$122,989
Expenses$173,309
Net Income-$50,320
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 8, 2020
Return Version
2019v5.0
Gross Receipts
$122,989
Mission and Program Overview

Mission

Provision of a 24 unit housing complex for low income elderly people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,061,127$1,010,569▼ $50,558
Savings and Temporary Cash Investments$53,975$60,165▲ $6,190
Cash and Non-Interest-Bearing Accounts$4,079$1,127▼ $2,952
Accounts Receivable$2,957$8▼ $2,949
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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,122,138$1,071,869▼ $50,269
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,788,600$1,788,600→ $0
Other Liabilities$8,102$7,373▼ $729
Accounts Payable and Accrued Expenses$3,505$4,285▲ $780
Total Liabilities$1,800,207$1,800,258▲ $51
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-678,069$-728,389▼ $50,320
Total Net Assets Fund Balance$-678,069$-728,389▼ $50,320
Total Liabilities and Net Assets / Fund Balance$1,122,138$1,071,869▼ $50,269

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$951,921$816,449$1,768,370
Leasehold Improvements$38,648$53,562$92,210
Land$20,000-$20,000
Equipment-$20,000$20,000
Other Land Buildings-$13,325$13,325
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Nancy JosephPresident$31,300$31,300
Irene J Elia PHDDirector$15,221$15,221

Board Members and Trustees

NameTitle
Diane SteinVice President
Anna Mae RotellaDirector
Donna TomkinsDirector
Melissa GreenDirector
Sema ShepardDirector
William CorreaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$122,946
Investment Income
$43
Other Revenue
$0
Change in Net Assets
$-50,320

Audited Revenue Reconciliation

Revenue per Audited Statements
$122,989
Total Revenue per Audited Statements
$122,989
Total Revenue per Form 990
$122,989
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$173,309
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$50,558--$50,558
Occupancy$22,226$836-$23,062
All Other Expenses$16,060$25-$16,085
Fees for Services Management$15,221--$15,221
Fees for Services Accounting$8,425$1,025-$9,450
Other Expenses$4,922--$4,922
Office Expenses$2,085--$2,085
Advertising$608--$608
Total Functional Expenses$171,423$1,886$0$173,309

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$173,309
Total Expenses per Audited Statements$173,309
Total Expenses per Form 990$173,309
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
Sage Management CorpSee schedule RAlloc. payroll,taxes&beneNo$22,210
Sage Management CorpSee schedule RManagement feesNo$15,221

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
Tenant Security Deposits$7,372
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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, Line 3: Description of Delegated Duties to Management Company

“The entity delegates all management responsibilities to Sage Management Corporation (Sage), which is 100% owned by Irene Elia, a non-voting member of the board of directors. Management fees in the amount of $15,221 were paid to Sage.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The entity is organized with members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Should a member of the Corporate board resign or vacate office, the remaining corporate board members have the authority to appoint a replacement.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“All decisions of the governing body are subject to the approval of members”

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

“Form 990 and all supporting schedules are reviewed by the president, Nancy Joseph, and by Irene Elia, a non-voting member of the board, before the form is filed.”

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

“Members are requried to disclose any conflict of interest upon discovery. This is reviewed at the annual meeting of the directors.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“All compensation is reviewed by Hud employees as part of annual budget approval”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The entity did not compensate any employee, officer, or director and does not plan to compensate them in the future. As reported on form 990 page 10 part IX line 24a a total of $22,110 in payroll and related taxes and benefits that were paid by Sage Management Corporation was allocated to this entity.”

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

“The Entity's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Lewiston Itc Elderly Housing
EIN
16-1571080
Phone
7162984966
Address
916 UPPER MOUNTAIN ROAD, LEWISTON, NY 14092

Signing Officer

Name
Nancy Joseph
Title
President
Signed
2020-06-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Joseph
Formed
1999
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
The Zlc Group Cpas LLC
Address
2399 SWEET HOME RD, AMHERST, NY 14228
Preparer
Richard Teibel CPA
Phone
7168399001
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - All entities listed on Schedule R parts II-IV are under the management umbrella of Sage Management Corporation which is 100% owned and managed by Irene Elia, a non-voting member of the board of directors of this entity.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Project is a not-for-profit corporation organized under IRC 501(c)(3) and as such is not required to pay income taxes. Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 740-10-50-15, Income Taxes, clarifies the accounting for uncertainty in income taxes recognized in a not-for-profit corporation financial statement, and prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken. The Project has concluded there are no significant uncertain tax positions that would require recognition in the financial statements as of December 31, 2019. Generally, 2016 through 2019 tax years remain subject to examination by U.S. federal and New York State tax authorities.”

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IRS990/NetAssetsOrFundBalancesEOYAmt0-728389
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-678069
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-728389
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt0836
IRS990/OccupancyGrp/ProgramServicesAmt022226
IRS990/OccupancyGrp/TotalAmt023062
IRS990/OfficeExpensesGrp/ProgramServicesAmt02085
IRS990/OfficeExpensesGrp/TotalAmt02085
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0repairs and maintenance
IRS990/OtherExpensesGrp/Desc1Alloc. payroll, benfits&taxes
IRS990/OtherExpensesGrp/Desc2Cleaning
IRS990/OtherExpensesGrp/Desc3Furniture & furnishings
IRS990/OtherExpensesGrp/ProgramServicesAmt023952
IRS990/OtherExpensesGrp/ProgramServicesAmt122210
IRS990/OtherExpensesGrp/ProgramServicesAmt25156
IRS990/OtherExpensesGrp/ProgramServicesAmt34922
IRS990/OtherExpensesGrp/TotalAmt023952
IRS990/OtherExpensesGrp/TotalAmt122210
IRS990/OtherExpensesGrp/TotalAmt25156
IRS990/OtherExpensesGrp/TotalAmt34922
IRS990/OtherLiabilitiesGrp/BOYAmt08102
IRS990/OtherLiabilitiesGrp/EOYAmt07373
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Nancy Joseph
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Hud rental subsidy
IRS990/ProgramServiceRevenueGrp/Desc1Laundry revenue
IRS990/ProgramServiceRevenueGrp/Desc2Tenant charges
IRS990/ProgramServiceRevenueGrp/Desc3Tenant Rent
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt045444
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1951
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2180
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt376371
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt045444
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1951
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2180
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt376371
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0156493
IRS990/PYProgramServiceRevenueAmt0119107
IRS990/PYRevenuesLessExpensesAmt0-37366
IRS990/PYTotalExpensesAmt0156493
IRS990/PYTotalRevenueAmt0119127
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-50320
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0122947
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt053975
IRS990/SavingsAndTempCashInvstGrp/EOYAmt060165
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0122989
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0119126
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0104921
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt088029
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt088413
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0523478
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt0523478
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0122989
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0119126
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0104921
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt088029
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt088413
IRS990ScheduleA/Total509Grp/TotalAmt0523478
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0122989
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0119126
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0104921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt088029
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt088413
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0523478
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0951921
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0816449
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01768370
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/ExpensesSubtotalAmt0173309
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt020000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt038648
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt053562
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt092210
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013325
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013325
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17372
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0122989
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Project is a not-for-profit corporation organized under IRC 501(c)(3) and as such is not required to pay income taxes. Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 740-10-50-15, Income Taxes, clarifies the accounting for uncertainty in income taxes recognized in a not-for-profit corporation financial statement, and prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken. The Project has concluded there are no significant uncertain tax positions that would require recognition in the financial statements as of December 31, 2019. Generally, 2016 through 2019 tax years remain subject to examination by U.S. federal and New York State tax authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01010569
IRS990ScheduleD/TotalExpensesPerForm990Amt0173309
IRS990ScheduleD/TotalLiabilityAmt07373
IRS990ScheduleD/TotalRevenuePerForm990Amt0122989
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0122989
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0173309
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Sage Management Corp
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1Sage Management Corp
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0See schedule R
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1See schedule R
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt015221
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt122210
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Management fees
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Alloc. payroll,taxes&bene
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - All entities listed on Schedule R parts II-IV are under the management umbrella of Sage Management Corporation which is 100% owned and managed by Irene Elia, a non-voting member of the board of directors of this entity.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The entity delegates all management responsibilities to Sage Management Corporation (Sage), which is 100% owned by Irene Elia, a non-voting member of the board of directors. Management fees in the amount of $15,221 were paid to Sage.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The entity is organized with members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Should a member of the Corporate board resign or vacate office, the remaining corporate board members have the authority to appoint a replacement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All decisions of the governing body are subject to the approval of members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990 and all supporting schedules are reviewed by the president, Nancy Joseph, and by Irene Elia, a non-voting member of the board, before the form is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Members are requried to disclose any conflict of interest upon discovery. This is reviewed at the annual meeting of the directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7All compensation is reviewed by Hud employees as part of annual budget approval
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The entity did not compensate any employee, officer, or director and does not plan to compensate them in the future. As reported on form 990 page 10 part IX line 24a a total of $22,110 in payroll and related taxes and benefits that were paid by Sage Management Corporation was allocated to this entity.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9The Entity's governing documents, conflict of interest policy, and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,071,869
Liabilities
$1,800,258
Net assets
-$728,389
Revenue
$122,989
Expenses
$173,309
Net income
-$50,320
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$1.83$0.95$0.16$0.23$0.07
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$1.80$0.88$0.16$0.18$0.02
2023Summary only. Only limited summary data is available for this year.$0.96$1.82$0.85$0.15$0.18$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.97$1.80$0.83$0.14$0.17$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$1.83$0.80$0.13$0.16$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$1.81$0.77$0.12$0.16$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.07$1.80$0.73$0.12$0.17$0.05
2019Summary only. Only limited summary data is available for this year.$1.07$1.80$0.73$0.12$0.17$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.12$1.80$0.68$0.12$0.16$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$1.80$0.64$0.10$0.16$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$1.80$0.59$0.09$0.16$0.07
2015Summary only. Only limited summary data is available for this year.$1.28$1.80$0.52$0.09$0.14$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.35$1.81$0.47$0.09$0.15$0.06
2013Summary only. Only limited summary data is available for this year.$1.40$1.81$0.41$0.09$0.15$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$1.80$0.35$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$1.79$0.32$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$1.79$0.28$0.12