Civic Intelligence

409 Grand Avenue Housing Development

EIN 20-1876837 • 501(c)3 • Brooklyn, NY

Profile

The corporation was organized exclusively for the purpose of acquiring, developing and maintaining, on a nonprofit basis, a housing project for persons of low income.

1000 Dean St 420Brooklyn, NY 11238

www.impacctbrooklyn.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

2.23x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

15.59x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

9th percentile

-108%

Higher net margin than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

99th percentile

$185,773

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 263.9% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

41st percentile

-9.1%

Faster asset growth than 41% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

2.4%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$491,502

Down $49,274 (-9.1%) from 2023

Liabilities

Up

$1,097,654

Up $27,040 (+2.5%) from 2023

Net Assets

Down

-$606,152

Down $76,314 (-14%) from 2023

Revenue

Up

$70,386

Up $1,626 (+2.4%) from 2023

Expenses

Up

$146,700

Up $40,415 (+38%) from 2023

Net Income

Down

-$76,314

Down $38,789 (-103%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2022: $587,556Liabilities 2022: $1,079,869Net Assets 2022: -$492,3132022Assets 2023: $540,776Liabilities 2023: $1,070,614Net Assets 2023: -$529,8382023Assets 2024: $491,502Liabilities 2024: $1,097,654Net Assets 2024: -$606,1522024

Highlighted filing

2024

Assets$491,502
Liabilities$1,097,654
Net Assets-$606,152

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$100K$0-$100KRevenue 2022: $44,961Expenses 2022: $73,228Net Income 2022: -$28,2672022Revenue 2023: $68,760Expenses 2023: $106,285Net Income 2023: -$37,5252023Revenue 2024: $70,386Expenses 2024: $146,700Net Income 2024: -$76,3142024

Highlighted filing

2024

Revenue$70,386
Expenses$146,700
Net Income-$76,314

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$70,386
Mission and Program Overview

Mission

The corporation was organized exclusively for the purpose of acquiring, developing and maintaining, on a nonprofit basis, a housing project for persons of low income.

To acquire, develop and maintain, on a nonprofit basis, a housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$468,864$430,455▼ $38,409
Accounts Receivable$12,510$9,879▼ $2,631
Cash and Non-Interest-Bearing Accounts$14,609$3,832▼ $10,777
Prepaid Expenses and Deferred Charges$994$1,158▲ $164
Total Assets$540,776$491,502▼ $49,274
Other Assets Total$43,799$46,178▲ $2,379
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,054,425$1,050,970▼ $3,455
Accounts Payable and Accrued Expenses$9,458$39,904▲ $30,446
Escrow Account Liability$6,731$6,780▲ $49
Total Liabilities$1,070,614$1,097,654▲ $27,040
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-529,838$-606,152▼ $76,314
Total Net Assets Fund Balance$-529,838$-606,152▼ $76,314
Total Liabilities and Net Assets / Fund Balance$540,776$491,502▼ $49,274

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$420,455$631,013$1,051,468
Land$10,000-$10,000
Equipment$0$5,982$5,982
Other Assets Org$13,841--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Heather GershenPresident
Imani GriszellDirector
Bernell GrierOutgoing Secretary
Diana BreenSecretary
Yvonne CummingsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$70,277
Investment Income
$34
Other Revenue
$75
Change in Net Assets
$-76,314

Audited Revenue Reconciliation

Revenue per Audited Statements
$70,386
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$70,386
Total Revenue per Form 990
$70,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$146,700
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$38,409--$38,409
Occupancy$15,465--$15,465
Insurance$13,579--$13,579
Fees for Services Accounting-$12,411-$12,411
Interest$8,120--$8,120
Fees for Services Management$4,460--$4,460
Fees for Services Legal$2,491--$2,491
Office Expenses$1,803--$1,803
Other Expenses$1,354--$1,354
All Other Expenses$965--$965
Total Functional Expenses$134,289$12,411$0$146,700

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$146,700
Total Expenses per Audited Statements$146,700
Total Expenses per Form 990$146,700
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board the 990 will be filed.

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

All officers and board members are required to disclose at least annually and acutal or potential conflicts of interest.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
409 Grand Avenue Housing Development
EIN
20-1876837
Phone
7185222613
Address
1000 DEAN ST 420, BROOKLYN, NY 11238

Signing Officer

Name
Yvonne Cummings
Title
Treasurer
Phone
7185222613
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yvonne Cummings
Formed
2004
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

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

Financial Statement Notes

PART IV, LINE 2B:

The organization maintains security deposits as required by state law.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS SECURITY DEPOSITS AS REQUIRED BY STATE LAW.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0430455
IRS990ScheduleD/TotalBookValueOtherAssetsAmt046178
IRS990ScheduleD/TotalExpensesPerForm990Amt0146700
IRS990ScheduleD/TotalRevenuePerForm990Amt070386
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt070386
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0146700
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0185773
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BERNELL GRIER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0OUTGOING SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0185773
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT REVIEWS THE 990 TO OBTAIN AN UNDERSTANDING OF THE REPORTING REQUIREMENTS AND TO ENSURE IT IS ACCURATE AND COMPLETE. SUBSEQUENTLY, A COPY OF THE DRAFT 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. THE BOARD OF DIRECTORS WILL MEET WITH MANAGEMENT TO DISCUSS THE 990 AND RESOLVE ANY QUESTIONS THAT MAY ARISE. UPON APPROVAL FROM THE BOARD THE 990 WILL BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL OFFICERS AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE AT LEAST ANNUALLY AND ACUTAL OR POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0912105355
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0APRTMENT OWNER
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0PACC HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01000 DEAN STREET SUITE 420
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd011238
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt3IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt4IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt5IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0265 HAWTHORNE STREET HDFC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1811 LEXINGTON HOUSING DEV FUND CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2942 KENT AVENUE HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3GATEWAY 277 HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4GATEWAY HOUSING CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5GIBB MANSION HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6IMPACCT BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0271921872
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1113099585
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2202640555
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3472319448
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4113583988
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5821641445
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN6112451752
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt6501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd6NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt6HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt2LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt3LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt4LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt5LINE 10

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