Civic Intelligence

Highbridge-Tpt Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 20-5262130

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 08, 2024

Organization ProfileN/A
1465 Nelson Avenue Rm/Ste Ste ABronx, NY 10452

(718) 293-3100

Siviq Scores

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

Liabilities / Assets

84th percentile

1.43x

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

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

17.86x

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

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Net Margin

24th percentile

-49%

Higher net margin than 24% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$306,737

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 158.8% of source-year revenue.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Asset Growth

54th percentile

-2.0%

Faster asset growth than 54% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

53rd percentile

3.4%

Faster revenue growth than 53% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$2,408,812

Down $49,361 (-2.0%) from 2022

Net Assets

Down

-$1,041,356

Down $95,129 (-10%) from 2022

Liabilities

Up

$3,450,168

Up $45,768 (+1.3%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin24th percentile

Revenue

Up

$193,152

Up $6,280 (+3.4%) from 2022

Expenses

Down

$288,281

Down $9,094 (-3.1%) from 2022

Net Income

Up

-$95,129

Up $15,374 (+14%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $3,423,258Liabilities 2011: $3,487,718Net Assets 2011: -$64,4602011Assets 2012: $3,342,656Liabilities 2012: $3,460,723Net Assets 2012: -$118,0672012Assets 2013: $3,270,273Liabilities 2013: $3,444,874Net Assets 2013: -$174,6012013Assets 2015: $3,150,678Liabilities 2015: $3,433,560Net Assets 2015: -$282,8822015Assets 2016: $3,084,185Liabilities 2016: $3,445,052Net Assets 2016: -$360,8672016Assets 2017: $2,972,126Liabilities 2017: $3,419,750Net Assets 2017: -$447,6242017Assets 2018: $2,896,765Liabilities 2018: $3,423,593Net Assets 2018: -$526,8282018Assets 2019: $2,785,398Liabilities 2019: $3,406,212Net Assets 2019: -$620,8142019Assets 2020: $2,685,249Liabilities 2020: $3,403,498Net Assets 2020: -$718,2492020Assets 2021: $2,578,072Liabilities 2021: $3,413,796Net Assets 2021: -$835,7242021Assets 2022: $2,458,173Liabilities 2022: $3,404,400Net Assets 2022: -$946,2272022Assets 2023: $2,408,812Liabilities 2023: $3,450,168Net Assets 2023: -$1,041,3562023Assets 2024: $2,334,944Liabilities 2024: $3,482,770Net Assets 2024: -$1,147,8262024

Highlighted filing

2023

Assets$2,408,812
Liabilities$3,450,168
Net Assets-$1,041,356
Open 2023 Filing

Operations Trend

Revenue Growth53rd percentile

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

$400K$200K$0-$200KRevenue 2011: $162,755Expenses 2011: $208,617Net Income 2011: -$45,8622011Revenue 2012: $166,048Expenses 2012: $219,655Net Income 2012: -$53,6072012Revenue 2013: $168,651Expenses 2013: $225,185Net Income 2013: -$56,5342013Revenue 2015: $175,051Expenses 2015: $228,756Net Income 2015: -$53,7052015Revenue 2016: $176,088Expenses 2016: $254,073Net Income 2016: -$77,9852016Revenue 2017: $173,806Expenses 2017: $260,563Net Income 2017: -$86,7572017Revenue 2018: $180,201Expenses 2018: $259,405Net Income 2018: -$79,2042018Revenue 2019: $174,751Expenses 2019: $268,737Net Income 2019: -$93,9862019Revenue 2020: $175,917Expenses 2020: $273,352Net Income 2020: -$97,4352020Revenue 2021: $186,383Expenses 2021: $303,858Net Income 2021: -$117,4752021Revenue 2022: $186,872Expenses 2022: $297,375Net Income 2022: -$110,5032022Revenue 2023: $193,152Expenses 2023: $288,281Net Income 2023: -$95,1292023Revenue 2024: $194,662Expenses 2024: $301,132Net Income 2024: -$106,4702024

Highlighted filing

2023

Revenue$193,152
Expenses$288,281
Net Income-$95,129
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 8, 2024
Return Version
2023v5.0
Gross Receipts
$193,152
Mission and Program Overview

Mission

To build low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,300,728$2,216,641▼ $84,087
Intangible Assets$63,025$56,033▼ $6,992
Accounts Receivable$22,536$20,974▼ $1,562
Prepaid Expenses and Deferred Charges$13,356$18,632▲ $5,276
Cash and Non-Interest-Bearing Accounts$6,166$10,037▲ $3,871
Total Assets$2,458,173$2,408,812▼ $49,361
Other Assets Total$52,362$86,495▲ $34,133
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,339,784$3,327,717▼ $12,067
Other Liabilities$16,304$76,613▲ $60,309
Accounts Payable and Accrued Expenses$32,235$29,761▼ $2,474
Escrow Account Liability$16,077$16,077→ $0
Total Liabilities$3,404,400$3,450,168▲ $45,768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-946,227$-1,041,356▼ $95,129
Total Net Assets Fund Balance$-946,227$-1,041,356▼ $95,129
Total Liabilities and Net Assets / Fund Balance$2,458,173$2,408,812▼ $49,361

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,201,116$1,079,582$3,280,698
Equipment$15,525$5,175$20,700
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleOtherTotal
Donna M SmithCFO$49,735$49,735

Board Members and Trustees

NameTitle
Msgr Donald SakanoChairman
Beatriz Diaz TaverasDirector
Kenneth BrowneDirector
Rev Fr Jose R CruzDirector
Rev Joseph FrancoDirector
Rosanna VieraDirector
Kobina ArhinCEO
Rev Mark CreganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$193,152
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-95,129

Audited Revenue Reconciliation

Revenue per Audited Statements
$193,152
Total Revenue per Audited Statements
$193,152
Total Revenue per Form 990
$193,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$276,705
Salaries, Compensation, and Employee Benefits$11,576
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$91,079--$91,079
Interest$37,337--$37,337
Insurance$16,609--$16,609
Fees for Services Accounting-$10,200-$10,200
Other Salaries and Wages$9,310--$9,310
Fees for Services Management-$7,738-$7,738
Fees for Services Legal$2,991--$2,991
Other Employee Benefits$1,328--$1,328
Other Expenses$1,115--$1,115
Payroll Taxes$938--$938
Total Functional Expenses$270,343$17,938$0$288,281

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$288,281
Total Expenses per Audited Statements$288,281
Total Expenses per Form 990$288,281
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$76,613
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization is managed by highbridge community development corp, which manages the books and records of the organization as well as the day-to-day operations.”

Form 990, Page 6, Part VI, Line 11B

“The organization's 990 is reviewed by the audit and finance committe before it is finalized and issued.”

Form 990, Page 6, Part VI, Line 12C

“The organization regularly sends out an annual questionnaire to the board members and staff.”

Form 990, Page 6, Part VI, Line 15B

“The organization's process for determining compensation is performed by the board of directors, reviews and approves the compensation on an annual basis. All employees are currently under a collective bargaining agreement.”

Form 990, Page 6, Part VI, Line 19

“Documents, which are public records, are available from the ny secretary of state.”

Filing and Contact Details

Filer

Filer Name
Highbridge-tpt Housing Development
EIN
20-5262130
Phone
7182933100
Address
1465 NELSON AVENUE RM/STE STE A, BRONX, NY 10452

Signing Officer

Name
Kobina Arhin
Title
CEO
Phone
7182933100
Signed
2024-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Msgr Donald Sakano
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
A Gary Aaronson CPA Pllc
Address
42 WEST 38TH STREET SUITE 1003, NEW YORK, NY 10018-0060
Preparer
A Gary Aaronson
Phone
2126845770
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The organization holds security deposits from tenants in an escrow account. These deposits are returned to the tenants once they move out of the apartment.”

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS MANAGED BY HIGHBRIDGE COMMUNITY DEVELOPMENT CORP, WHICH MANAGES THE BOOKS AND RECORDS OF THE ORGANIZATION AS WELL AS THE DAY-TO-DAY OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S 990 IS REVIEWED BY THE AUDIT AND FINANCE COMMITTE BEFORE IT IS FINALIZED AND ISSUED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REGULARLY SENDS OUT AN ANNUAL QUESTIONNAIRE TO THE BOARD MEMBERS AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S PROCESS FOR DETERMINING COMPENSATION IS PERFORMED BY THE BOARD OF DIRECTORS, REVIEWS AND APPROVES THE COMPENSATION ON AN ANNUAL BASIS. ALL EMPLOYEES ARE CURRENTLY UNDER A COLLECTIVE BARGAINING AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS, WHICH ARE PUBLIC RECORDS, ARE AVAILABLE FROM THE NY SECRETARY OF STATE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd8N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt2C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt3C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt4C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt5C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt6C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt7C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt8C CORP
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0JESUP ONE INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3NORTH SHAKESPEARE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4CROTONA ONE INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5AB PLIMPTON INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8WEST OGDEN INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BRONX
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm2BRONX
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm3BRONX
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm4BRONX
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm7BRONX
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm8BRONX
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd2NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd3NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd4NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd5NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd6NY

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,408,812
Liabilities
$3,450,168
Net assets
-$1,041,356
Revenue
$193,152
Expenses
$288,281
Net income
-$95,129
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.33$3.48$1.15$0.19$0.30$0.11
2023Detailed filing. Detailed filing data is available for this year.$2.41$3.45$1.04$0.19$0.29$0.10
2022Detailed filing. Detailed filing data is available for this year.$2.46$3.40$0.95$0.19$0.30$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.58$3.41$0.84$0.19$0.30$0.12
2020Detailed filing. Detailed filing data is available for this year.$2.69$3.40$0.72$0.18$0.27$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.79$3.41$0.62$0.17$0.27$0.09
2018Detailed filing. Detailed filing data is available for this year.$2.90$3.42$0.53$0.18$0.26$0.08
2017Detailed filing. Detailed filing data is available for this year.$2.97$3.42$0.45$0.17$0.26$0.09
2016Detailed filing. Detailed filing data is available for this year.$3.08$3.45$0.36$0.18$0.25$0.08
2015Summary only. Only limited summary data is available for this year.$3.15$3.43$0.28$0.18$0.23$0.05
2013Summary only. Only limited summary data is available for this year.$3.27$3.44$0.17$0.17$0.23$0.06
2012Summary only. Only limited summary data is available for this year.$3.34$3.46$0.12$0.17$0.22$0.05
2011Summary only. Only limited summary data is available for this year.$3.42$3.49$0.06$0.16$0.21$0.05