Civic Intelligence

Lewiston Itc Elderly Housing Deveolpement Fund Corporation

990 • Fiscal year 2020 • EIN 16-1571080

Jan 01, 2020 to Dec 31, 2020 • Filed on May 17, 2021

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

87th percentile

1.74x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

15.52x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2020

Net Margin

23rd percentile

-34%

Higher net margin than 23% of similar nonprofits.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$35,506

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 30.5% of source-year revenue.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2020

Asset Growth

41st percentile

-3.0%

Faster asset growth than 41% of similar nonprofits.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

14th percentile

-5.3%

Faster revenue growth than 14% of similar nonprofits.

2020 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$1,039,251

Down $32,618 (-3.0%) from 2019

Net Assets

Down

-$768,328

Down $39,939 (-5.5%) from 2019

Liabilities

Up

$1,807,579

Up $7,321 (+0.4%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin23rd percentile

Revenue

Down

$116,449

Down $6,540 (-5.3%) from 2019

Expenses

Down

$156,388

Down $16,921 (-9.8%) from 2019

Net Income

Up

-$39,939

Up $10,381 (+21%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth41st 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 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

2020

Assets$1,039,251
Liabilities$1,807,579
Net Assets-$768,328
Open 2020 Filing

Operations Trend

Revenue Growth14th 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 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

2020

Revenue$116,449
Expenses$156,388
Net Income-$39,939
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 17, 2021
Return Version
2020v4.0
Gross Receipts
$116,449
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$1,010,569$961,562▼ $49,007
Savings and Temporary Cash Investments$60,165$76,740▲ $16,575
Cash and Non-Interest-Bearing Accounts$1,127$611▼ $516
Accounts Receivable$8$338▲ $330
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$1,071,869$1,039,251▼ $32,618
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,788,600$1,788,600→ $0
Accounts Payable and Accrued Expenses$4,285$11,047▲ $6,762
Other Liabilities$7,373$7,932▲ $559
Total Liabilities$1,800,258$1,807,579▲ $7,321
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-728,389$-768,328▼ $39,939
Total Net Assets Fund Balance$-728,389$-768,328▼ $39,939
Total Liabilities and Net Assets / Fund Balance$1,071,869$1,039,251▼ $32,618

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$906,908$861,462$1,768,370
Leasehold Improvements$34,654$57,556$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 Pay73rd percentile

Employees

NameTitleOtherTotal
Nancy JosephPresident$35,506$35,506
Irene J Elia PhdDirector$13,627$13,627

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$116,428
Investment Income
$21
Other Revenue
$0
Change in Net Assets
$-39,939

Audited Revenue Reconciliation

Revenue per Audited Statements
$116,449
Total Revenue per Audited Statements
$116,449
Total Revenue per Form 990
$116,449
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$156,388
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$49,018--$49,018
Occupancy$21,727$892-$22,619
Fees for Services Management$13,627--$13,627
All Other Expenses$10,117$25-$10,142
Fees for Services Accounting$8,600$1,025-$9,625
Other Expenses$3,302--$3,302
Office Expenses$1,922--$1,922
Advertising$427--$427
Total Functional Expenses$154,446$1,942$0$156,388

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$156,388
Total Expenses per Audited Statements$156,388
Total Expenses per Form 990$156,388
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$28,235
Sage Management CorpSee schedule RManagement feesNo$13,627

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$7,931
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 $13,627 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 $28,235 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
2021-05-17
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/NetAssetsOrFundBalancesBOYAmt0-728389
IRS990/NetAssetsOrFundBalancesEOYAmt0-768328
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-728389
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-768328
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt0892
IRS990/OccupancyGrp/ProgramServicesAmt021727
IRS990/OccupancyGrp/TotalAmt022619
IRS990/OfficeExpensesGrp/ProgramServicesAmt01922
IRS990/OfficeExpensesGrp/TotalAmt01922
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Alloc. payroll, benfits&taxes
IRS990/OtherExpensesGrp/Desc1repairs and maintenance
IRS990/OtherExpensesGrp/Desc2Grounds maintenance
IRS990/OtherExpensesGrp/Desc3Cleaning
IRS990/OtherExpensesGrp/ProgramServicesAmt028235
IRS990/OtherExpensesGrp/ProgramServicesAmt113917
IRS990/OtherExpensesGrp/ProgramServicesAmt23554
IRS990/OtherExpensesGrp/ProgramServicesAmt33302
IRS990/OtherExpensesGrp/TotalAmt028235
IRS990/OtherExpensesGrp/TotalAmt113917
IRS990/OtherExpensesGrp/TotalAmt23554
IRS990/OtherExpensesGrp/TotalAmt33302
IRS990/OtherLiabilitiesGrp/BOYAmt07373
IRS990/OtherLiabilitiesGrp/EOYAmt07932
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/RelatedOrExemptFuncIncomeAmt040269
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1851
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt275308
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt040269
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1851
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt275308
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt043
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0173309
IRS990/PYProgramServiceRevenueAmt0122946
IRS990/PYRevenuesLessExpensesAmt0-50320
IRS990/PYTotalExpensesAmt0173309
IRS990/PYTotalRevenueAmt0122989
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-39939
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0116428
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt060165
IRS990/SavingsAndTempCashInvstGrp/EOYAmt076740
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0116449
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0122989
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0119126
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0104921
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt088029
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0551514
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt0551514
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0116449
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0122989
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0119126
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0104921
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt088029
IRS990ScheduleA/Total509Grp/TotalAmt0551514
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0116449
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0122989
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0119126
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0104921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt088029
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0551514
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0906908
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0861462
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01768370
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/ExpensesSubtotalAmt0156388
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt020000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt034654
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt057556
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt092210
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013325
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013325
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17931
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0116449
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/TotalBookValueLandBuildingsAmt0961562
IRS990ScheduleD/TotalExpensesPerForm990Amt0156388
IRS990ScheduleD/TotalLiabilityAmt07932
IRS990ScheduleD/TotalRevenuePerForm990Amt0116449
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0116449
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0156388
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/TransactionAmt013627
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt128235
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 $13,627 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 $28,235 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
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0161303359
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1166289771

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,039,251
Liabilities
$1,807,579
Net assets
-$768,328
Revenue
$116,449
Expenses
$156,388
Net income
-$39,939
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
2020Detailed filing. Detailed filing data is available for this year.$1.04$1.81$0.77$0.12$0.16$0.04
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