Council Towers V Housing Development Fund Corporation C/O Met Council

990 • Fiscal year 2015 • EIN 20-5686282

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

Organization Profile www.metcouncil.org

120 Broadway 7th FloorNew York, NY 10271

(212) 453-9500

Siviq Scores

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

1.01x

Higher debt load relative to assets than 77% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

22.36x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

-75%

Higher net margin than 6% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

$533,073

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 75.6% of source-year revenue.

2015 filings • NTEE L • $10M-$25M nonprofits • Source year 2015

-2.7%

Faster asset growth than 26% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2014 to 2015

2.2%

Faster revenue growth than 49% of similar nonprofits.

2015 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet

Liabilities / Assets77th percentile

Assets

Down

$15,619,055

Down $432,925 (-2.7%) from 2014

Net Assets

Down

-$138,044

Down $530,107 (-135%) from 2014

Liabilities

$15,757,099

Up $97,182 (+0.6%) from 2014

Revenue And Expenses

Liabilities / Revenue91st percentile Net Margin6th percentile

Revenue

$704,827

Up $15,385 (+2.2%) from 2014

Expenses

Down

$1,234,934

Down $16,738 (-1.3%) from 2014

Net Income

-$530,107

Up $32,123 (+5.7%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

Highlighted filing

2015

Assets$15,619,055

Liabilities$15,757,099

Net Assets-$138,044

Open 2015 Filing

Operations Trend

Revenue Growth49th percentile

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

Highlighted filing

2015

Revenue$704,827

Expenses$1,234,934

Net Income-$530,107

Open 2015 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2015 to Dec 31, 2015
Signed: Nov 14, 2016
Return Version: 2015v2.1
Gross Receipts: $704,827

Mission and Program Overview

Mission

To provide subsidized rental apartments for seniors and lower income indivudals.

To provide Subsidized rental apartments for seniors and lower income individuals.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$15,524,437	$14,914,175	▼ $610,262
Savings and Temporary Cash Investments	-	$151,046	-
Cash and Non-Interest-Bearing Accounts	$112,027	$64,421	▼ $47,606
Prepaid Expenses and Deferred Charges	$19,286	$18,695	▼ $591
Accounts Receivable	$3,634	$4,112	▲ $478
Total Assets	$16,051,980	$15,619,055	▼ $432,925
Other Assets Total	$392,596	$466,606	▲ $74,010
Liabilities
Mortgage Notes Payable Secured by Investment Property	$15,537,526	$15,537,526	→ $0
Other Liabilities	$34,118	$109,163	▲ $75,045
Accounts Payable and Accrued Expenses	$86,601	$107,143	▲ $20,542
Deferred Revenue	$1,672	$3,267	▲ $1,595
Total Liabilities	$15,659,917	$15,757,099	▲ $97,182
Net Assets / Fund Balance
Unrestricted Net Assets	$392,063	$-138,044	▼ $530,107
Total Net Assets Fund Balance	$392,063	$-138,044	▼ $530,107
Total Liabilities and Net Assets / Fund Balance	$16,051,980	$15,619,055	▼ $432,925

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$14,882,256	$2,526,990	$17,409,246
Other Land Buildings	$17,433	$23,240	$40,673
Equipment	$14,485	$7,172	$21,657
Land	$1	-	$1

Compensation and Service Providers

Top Officer Pay84th percentile

Board Members and Trustees

Name	Title
abraham biderman	president
david m frankel	OUTGOING vice president/CEO
Gerald E Feldhamer	director
Scott Weiner	director
Stacey Scheinberg	director
robert goodman	director
Benjamin Rouah	outgoing director
Joseph Strasburg	outgoing director
Richard Runes	outgoing director
Alan Schoor	CEO
George Rush	Contracted CFO
linda spitzer	secretary
benjamin lopata	treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $669,156
Investment Income: $2,371
Other Revenue: $33,300
Change in Net Assets: $-530,107

Audited Revenue Reconciliation

Revenue per Audited Statements: $704,827
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $0
Total Revenue per Audited Statements: $704,827
Total Revenue per Form 990: $704,827

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$1,234,934
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Depreciation Depletion	$639,859	-	-	$639,859
Fees for Services Management	$226,854	-	-	$226,854
Occupancy	$141,665	-	-	$141,665
Insurance	$33,408	-	-	$33,408
Fees for Services Accounting	$16,800	$15,440	-	$32,240
Fees for Services Other	$22,797	-	-	$22,797
Office Expenses	$19,297	-	-	$19,297
Fees for Services Legal	$3,416	-	-	$3,416
Other Expenses	$413	-	-	$413
Conferences and Meetings	$5	-	-	$5
Total Functional Expenses	$1,219,494	$15,440	$0	$1,234,934

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$1,234,934
Total Expenses per Audited Statements	$1,234,934
Total Expenses per Form 990	$1,234,934
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 Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
141 East 23rd Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
228 East 46th Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
231 East 77th Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
332 East 22nd Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
334 East 92nd Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
351 East 61st Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
385 Third Ave Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
91 Carlton Ave Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Management Company Inc	New York, NY	to provide management support for low income housing	501(c)(3)	Line 9	No
Council Towers II Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Towers III Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Towers IV Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Towers VI Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Towers VII Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Council Towers i Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
East 54th Street Housing Development Fund Corporation	New York, NY	Low income housing for the elderly	501(c)(3)	Line 9	No
Jewish Community Council Service Commission	New York, NY	Home attendant service to homebound who qualify for medicaid	501(c)(3)	Line 7	No
Lexington Housing Development Fund Corp	New York, NY	low income housing for the elderly	501(c)(3)	Line 9	No
Met Council Futures in Information Technology Inc	New York, NY	employment and training	501(c)(3)	Line 7	No
Met Council Homecare Services	New York, NY	provide healthcare to the elderly	501(c)(3)	Line 9	No
Metropolitan NY Coordinating Council on Jewish Poverty	New York, NY	Social Welfare needs of the poor	501(c)(3)	Line 7	No
Project Ohr - Office for Homecare Referral Inc	New York, NY	Home Attendant care for the elderly and infirm homebound	501(c)(3)	Line 7	No
Surf gate Housing Development Fund Corporation	New York, NY	Social Work to residents of low cost housing	501(c)(3)	PF	No
shore front council housing development fund corp	New York, NY	Social Work to residents of low cost housing	501(c)(3)	Line 9	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
Council Towers Vi Lp	new york, NY	rental	-	-	-	-
Council Towers Vii Lp	new york, NY	rental	-	-	-	-

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
DUE TO affiliates	$95,241
Tenant Security Payable	$13,795
Utility Allowances	$127

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 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: Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“DURING 2015, THE ROLE OF CFO WAS OUTSOURCED TO GR CONSULTING LLC. The consulting fees for those services were PAID by the parent organization METROPOLITAN NEW YORK COORDINATING COUNCIL ON JEWISH POVERTY (EIN 13-2738818) and not the filing organization. Therefore, all the details of this arrangement are described on the parent's tax return.”

Form 990, Part VI, Section A, line 8B

“THE ORGANIZATION DID NOT HAVE ANY committee MEETINGS DURING THE YEAR.”

Form 990, Part VI, Section B, line 11

“The 990 is prepared by an independent accountant. It is then reviewed by the organization's governing body. After the review, form 990 is filed with the irs.”

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

“All officers and directors complete nyc vendex conflict of interest form annually. No purchases are allowed from any business affiliated with employees or board members.”

Form 990, Part VI, Section C, line 19

“THE DOCUMENTS ARE AVAILABLE upon REQUEST.”

Filing and Contact Details

Filer

Filer Name: Council Towers V Housing Development
EIN: 20-5686282
Phone: 2124539500
Address: 120 BROADWAY 7TH FLOOR, New York, NY 10271

Signing Officer

Name: Alan Schoor
Title: Executive Director
Phone: 2124539500
Signed: 2016-11-14
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Alan Schoor
Formed: 2006
Legal Domicile: Ny
Voting Board Members: 7
Independent Board Members: 7
Employees: 0
Volunteers: 0

Preparer

Firm: Cohnreznick Llp
Address: 1301 Avenue of the Americas, New York, NY 10019
Preparer: Thomas Lanning
Phone: 2122970400

Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

Part X, Line 2:

“these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Informational returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no informational returns are currently being examined by the Internal Revenue Service, tax years since 2012 remain open.”

Raw XML AppendixShowing 400 of 866 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path	#	Value
IRS990/AccountantCompileOrReviewInd	0	0
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt	0	86601
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt	0	107143
IRS990/AccountsReceivableGrp/BOYAmt	0	3634
IRS990/AccountsReceivableGrp/EOYAmt	0	4112
IRS990/ActivitiesConductedPrtshpInd	0	0
IRS990/ActivityOrMissionDesc	0	To provide Subsidized rental apartments for seniors and lower income individuals.
IRS990/AnnualDisclosureCoveredPrsnInd	0	1
IRS990/AuditCommitteeInd	0	1
IRS990/BackupWthldComplianceInd	0	1
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt	0	MATTHEW LOCURTO
IRS990/BooksInCareOfDetail/PhoneNum	0	2124539500
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt	0	120 BROADWAY 7TH FLOOR
IRS990/BooksInCareOfDetail/USAddress/CityNm	0	new york
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd	0	NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd	0	10271
IRS990/BusinessRlnWithFamMemInd	0	0
IRS990/BusinessRlnWithOfficerEntInd	0	0
IRS990/BusinessRlnWithOrgMemInd	0	0
IRS990/CashNonInterestBearingGrp/BOYAmt	0	112027
IRS990/CashNonInterestBearingGrp/EOYAmt	0	64421
IRS990/ChangeToOrgDocumentsInd	0	0
IRS990/CntrctRcvdGreaterThan100KCnt	0	0
IRS990/CollectionsOfArtInd	0	0
IRS990/CompensationFromOtherSrcsInd	0	0
IRS990/CompensationProcessCEOInd	0	0
IRS990/CompensationProcessOtherInd	0	0
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt	0	5
IRS990/ConferencesMeetingsGrp/TotalAmt	0	5
IRS990/ConflictOfInterestPolicyInd	0	1
IRS990/ConservationEasementsInd	0	0
IRS990/ConsolidatedAuditFinclStmtInd	0	1
IRS990/CreditCounselingInd	0	0
IRS990/CYBenefitsPaidToMembersAmt	0	0
IRS990/CYContributionsGrantsAmt	0	0
IRS990/CYGrantsAndSimilarPaidAmt	0	0
IRS990/CYInvestmentIncomeAmt	0	2371
IRS990/CYOtherExpensesAmt	0	1234934
IRS990/CYOtherRevenueAmt	0	33300
IRS990/CYProgramServiceRevenueAmt	0	669156
IRS990/CYRevenuesLessExpensesAmt	0	-530107
IRS990/CYSalariesCompEmpBnftPaidAmt	0	0
IRS990/CYTotalExpensesAmt	0	1234934
IRS990/CYTotalFundraisingExpenseAmt	0	0
IRS990/CYTotalProfFndrsngExpnsAmt	0	0
IRS990/CYTotalRevenueAmt	0	704827
IRS990/DecisionsSubjectToApprovaInd	0	0
IRS990/DeductibleArtContributionInd	0	0
IRS990/DeductibleNonCashContriInd	0	0
IRS990/DeferredRevenueGrp/BOYAmt	0	1672
IRS990/DeferredRevenueGrp/EOYAmt	0	3267
IRS990/DelegationOfMgmtDutiesInd	0	1
IRS990/DepreciationDepletionGrp/ProgramServicesAmt	0	639859
IRS990/DepreciationDepletionGrp/TotalAmt	0	639859
IRS990/Desc	0	TO PROVIDE HOUSING ASSISTANCE TO LOW INCOME SENIOR CITIZENS.
IRS990/DescribedInSection501c3Ind	0	1
IRS990/DisregardedEntityInd	0	0
IRS990/DocumentRetentionPolicyInd	0	1
IRS990/DonorAdvisedFundInd	0	0
IRS990/ElectionOfBoardMembersInd	0	0
IRS990/EmployeeCnt	0	0
IRS990/EngagedInExcessBenefitTransInd	0	0
IRS990/ExpenseAmt	0	1219494
IRS990/FamilyOrBusinessRlnInd	0	0
IRS990/FederalGrantAuditPerformedInd	0	1
IRS990/FederalGrantAuditRequiredInd	0	1
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt	0	15440
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt	0	16800
IRS990/FeesForServicesAccountingGrp/TotalAmt	0	32240
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt	0	3416
IRS990/FeesForServicesLegalGrp/TotalAmt	0	3416
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt	0	226854
IRS990/FeesForServicesManagementGrp/TotalAmt	0	226854
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt	0	22797
IRS990/FeesForServicesOtherGrp/TotalAmt	0	22797
IRS990/ForeignActivitiesInd	0	0
IRS990/ForeignFinancialAccountInd	0	0
IRS990/ForeignOfficeInd	0	0
IRS990/Form8282PropertyDisposedOfInd	0	0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	0	18.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	1	21.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	2	46.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	3	5.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	4	2.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	5	1.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	6	1.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	7	2.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	8	46.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt	9	29.90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	0	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	1	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	2	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	3	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	4	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	5	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	6	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	7	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	8	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	9	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	10	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	11	0.10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt	12	0.10
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	0	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	1	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	2	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	3	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	4	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	5	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	6	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	7	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	8	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	9	X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd	10	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	0	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	1	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	2	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	3	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	4	X
IRS990/Form990PartVIISectionAGrp/OfficerInd	5	X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	0	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	1	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	2	603
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	3	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	4	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	5	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	6	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	7	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	8	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	9	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	10	0
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	11	18883
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt	12	0
IRS990/Form990PartVIISectionAGrp/PersonNm	0	abraham biderman
IRS990/Form990PartVIISectionAGrp/PersonNm	1	benjamin lopata
IRS990/Form990PartVIISectionAGrp/PersonNm	2	david m frankel
IRS990/Form990PartVIISectionAGrp/PersonNm	3	BENJAMIN ROUAH
IRS990/Form990PartVIISectionAGrp/PersonNm	4	JOSEPH STRASBURG
IRS990/Form990PartVIISectionAGrp/PersonNm	5	linda spitzer
IRS990/Form990PartVIISectionAGrp/PersonNm	6	RICHARD RUNES
IRS990/Form990PartVIISectionAGrp/PersonNm	7	robert goodman
IRS990/Form990PartVIISectionAGrp/PersonNm	8	Gerald E Feldhamer
IRS990/Form990PartVIISectionAGrp/PersonNm	9	Stacey Scheinberg
IRS990/Form990PartVIISectionAGrp/PersonNm	10	Scott Weiner
IRS990/Form990PartVIISectionAGrp/PersonNm	11	Alan Schoor
IRS990/Form990PartVIISectionAGrp/PersonNm	12	GEORGE RUSH
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	0	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	1	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	2	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	3	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	4	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	5	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	6	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	7	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	8	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	9	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	10	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	11	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt	12	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	0	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	1	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	2	532470
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	3	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	4	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	5	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	6	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	7	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	8	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	9	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	10	0
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	11	180839
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt	12	0
IRS990/Form990PartVIISectionAGrp/TitleTxt	0	president
IRS990/Form990PartVIISectionAGrp/TitleTxt	1	treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt	2	OUTGOING vice president/ceo
IRS990/Form990PartVIISectionAGrp/TitleTxt	3	outgoing director
IRS990/Form990PartVIISectionAGrp/TitleTxt	4	outgoing director
IRS990/Form990PartVIISectionAGrp/TitleTxt	5	secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt	6	outgoing director
IRS990/Form990PartVIISectionAGrp/TitleTxt	7	director
IRS990/Form990PartVIISectionAGrp/TitleTxt	8	director
IRS990/Form990PartVIISectionAGrp/TitleTxt	9	director
IRS990/Form990PartVIISectionAGrp/TitleTxt	10	director
IRS990/Form990PartVIISectionAGrp/TitleTxt	11	CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt	12	CONTRACTED CFO
IRS990/Form990ProvidedToGvrnBodyInd	0	1
IRS990/FormationYr	0	2006
IRS990/FormerOfcrEmployeesListedInd	0	0
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd	0	X
IRS990/FSAuditedInd	0	1
IRS990/FundraisingActivitiesInd	0	0
IRS990/GamingActivitiesInd	0	0
IRS990/GoverningBodyVotingMembersCnt	0	7
IRS990/GrantsToIndividualsInd	0	0
IRS990/GrantsToOrganizationsInd	0	0
IRS990/GrantToRelatedPersonInd	0	0
IRS990/GrossReceiptsAmt	0	704827
IRS990/GroupReturnForAffiliatesInd	0	0
IRS990/IncludeFIN48FootnoteInd	0	1
IRS990/IndependentAuditFinclStmtInd	0	1
IRS990/IndependentVotingMemberCnt	0	7
IRS990/IndivRcvdGreaterThan100KCnt	0	0
IRS990/IndoorTanningServicesInd	0	0
IRS990/InfoInScheduleOPartVIInd	0	X
IRS990/InfoInScheduleOPartXIIInd	0	X
IRS990/InsuranceGrp/ProgramServicesAmt	0	33408
IRS990/InsuranceGrp/TotalAmt	0	33408
IRS990/InvestmentIncomeGrp/ExclusionAmt	0	2371
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt	0	2371
IRS990/InvestmentInJointVentureInd	0	0
IRS990/IRPDocumentCnt	0	1
IRS990/IRPDocumentW2GCnt	0	0
IRS990/LandBldgEquipAccumDeprecAmt	0	2557402
IRS990/LandBldgEquipBasisNetGrp/BOYAmt	0	15524437
IRS990/LandBldgEquipBasisNetGrp/EOYAmt	0	14914175
IRS990/LandBldgEquipCostOrOtherBssAmt	0	17471577
IRS990/LegalDomicileStateCd	0	NY
IRS990/LoanOutstandingInd	0	0
IRS990/LobbyingActivitiesInd	0	0
IRS990/LocalChaptersInd	0	0
IRS990/MaterialDiversionOrMisuseInd	0	0
IRS990/MembersOrStockholdersInd	0	0
IRS990/MethodOfAccountingAccrualInd	0	X
IRS990/MinutesOfCommitteesInd	0	0
IRS990/MinutesOfGoverningBodyInd	0	1
IRS990/MissionDesc	0	TO PROVIDE SUBSIDIZED RENTAL APARTMENTS FOR SENIORS AND LOWER INCOME INDIVUDALS.
IRS990/MoreThan5000KToIndividualsInd	0	0
IRS990/MoreThan5000KToOrgInd	0	0
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt	0	15537526
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt	0	15537526
IRS990/NetAssetsOrFundBalancesBOYAmt	0	392063
IRS990/NetAssetsOrFundBalancesEOYAmt	0	-138044
IRS990/NetUnrelatedBusTxblIncmAmt	0	0
IRS990/NondeductibleContributionsInd	0	0
IRS990/OccupancyGrp/ProgramServicesAmt	0	141665
IRS990/OccupancyGrp/TotalAmt	0	141665
IRS990/OfficeExpensesGrp/ProgramServicesAmt	0	19297
IRS990/OfficeExpensesGrp/TotalAmt	0	19297
IRS990/OfficerMailingAddressInd	0	0
IRS990/OperateHospitalInd	0	0
IRS990/Organization501c3Ind	0	X
IRS990/OrganizationFollowsSFAS117Ind	0	X
IRS990/OtherAssetsTotalGrp/BOYAmt	0	392596
IRS990/OtherAssetsTotalGrp/EOYAmt	0	466606
IRS990/OtherChangesInNetAssetsAmt	0	0
IRS990/OtherExpensesGrp/Desc	0	SECURITY
IRS990/OtherExpensesGrp/Desc	1	REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc	2	Permits
IRS990/OtherExpensesGrp/ProgramServicesAmt	0	109542
IRS990/OtherExpensesGrp/ProgramServicesAmt	1	5438
IRS990/OtherExpensesGrp/ProgramServicesAmt	2	413
IRS990/OtherExpensesGrp/TotalAmt	0	109542
IRS990/OtherExpensesGrp/TotalAmt	1	5438
IRS990/OtherExpensesGrp/TotalAmt	2	413
IRS990/OtherLiabilitiesGrp/BOYAmt	0	34118
IRS990/OtherLiabilitiesGrp/EOYAmt	0	109163
IRS990/OtherRevenueMiscGrp/BusinessCd	0	900099
IRS990/OtherRevenueMiscGrp/BusinessCd	1	900099
IRS990/OtherRevenueMiscGrp/Desc	0	maintenance reimbursem
IRS990/OtherRevenueMiscGrp/Desc	1	LAUNDRY AND VENDING in
IRS990/OtherRevenueMiscGrp/ExclusionAmt	0	3300
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt	0	30000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt	0	30000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt	1	3300
IRS990/OtherRevenueTotalAmt	0	33300
IRS990/PartialLiquidationInd	0	0
IRS990/PayPremiumsPrsnlBnftCntrctInd	0	0
IRS990/PoliticalCampaignActyInd	0	0
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt	0	19286
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt	0	18695
IRS990/PrincipalOfficerNm	0	Alan Schoor
IRS990/ProfessionalFundraisingInd	0	0
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	531190
IRS990/ProgramServiceRevenueGrp/Desc	0	RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	669156
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	669156
IRS990/ProhibitedTaxShelterTransInd	0	0
IRS990/PYBenefitsPaidToMembersAmt	0	0
IRS990/PYContributionsGrantsAmt	0	0
IRS990/PYExcessBenefitTransInd	0	0
IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	1041
IRS990/PYOtherExpensesAmt	0	1251672
IRS990/PYOtherRevenueAmt	0	18176
IRS990/PYProgramServiceRevenueAmt	0	670225
IRS990/PYRevenuesLessExpensesAmt	0	-562230
IRS990/PYSalariesCompEmpBnftPaidAmt	0	0
IRS990/PYTotalExpensesAmt	0	1251672
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	689442
IRS990/QuidProQuoContributionsInd	0	0
IRS990/RcvFndsToPayPrsnlBnftCntrctInd	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	-530107
IRS990/RegularMonitoringEnfrcInd	0	1
IRS990/RelatedEntityInd	0	1
IRS990/RelatedOrganizationCtrlEntInd	0	0
IRS990/ReportInvestmentsOtherSecInd	0	0
IRS990/ReportLandBuildingEquipmentInd	0	1
IRS990/ReportOtherAssetsInd	0	0
IRS990/ReportOtherLiabilitiesInd	0	1
IRS990/ReportProgramRelatedInvstInd	0	0
IRS990/RevenueAmt	0	699156
IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	151046
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt	0	0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt	0	LAUNDRY AND VENDING - 2013 Amount: $ 3,300. 2014 Amount: $ 3,300. 2015 Amount: $ 3,300. maintenance reimbursement - 2012 Amount: $ 4,401. 2014 Amount: $ 14,876. 2015 Amount: $ 30,000.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc	0	Schedule A, Part III, Line 12, Explanation of Other Income:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt	0	24096
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt	0	24096
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt	0	2371
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt	0	1041
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt	0	1116
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt	0	252
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt	0	276
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt	0	5056
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt	0	669156
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt	0	670225
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt	0	670760
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt	0	687426
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt	0	65092
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt	0	2762659
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt	0	2371
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt	0	1041
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt	0	1116
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt	0	252
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt	0	276
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt	0	5056
IRS990ScheduleA/InvestmentIncomeCYPct	0	0.00180
IRS990ScheduleA/InvestmentIncomePYPct	0	0.00130
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt	0	33300
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt	0	18176
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt	0	3300
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt	0	4401
IRS990ScheduleA/OtherIncome509Grp/TotalAmt	0	59177
IRS990ScheduleA/PubliclySupportedOrg509a2Ind	0	X
IRS990ScheduleA/PublicSupportCY509Pct	0	0.97750
IRS990ScheduleA/PublicSupportPY509Pct	0	0.98670
IRS990ScheduleA/PublicSupportTotal509Amt	0	2786755
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt	0	0
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt	0	0
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind	0	X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt	0	669156
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt	0	670225
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt	0	694856
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt	0	687426
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt	0	65092
IRS990ScheduleA/Total509Grp/TotalAmt	0	2786755
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt	0	704827
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt	0	689442
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt	0	699272
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt	0	692079
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt	0	65368
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt	0	2850988
IRS990/ScheduleBRequiredInd	0	0
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	14882256
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	2526990
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	17409246
IRS990ScheduleD/EquipmentGrp/BookValueAmt	0	14485
IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	7172
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt	0	21657
IRS990ScheduleD/ExpensesNotReportedAmt	0	0
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt	0	0
IRS990ScheduleD/ExpensesSubtotalAmt	0	1234934
IRS990ScheduleD/FootnoteTextInd	0	X
IRS990ScheduleD/LandGrp/BookValueAmt	0	1
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	1
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	17433
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	23240
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	40673
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	13795
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	95241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	2	127
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	TENANT SECURITY PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	1	DUE TO affiliates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	2	UTILITY ALLOWANCES
IRS990ScheduleD/RevenueNotReportedAmt	0	0
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt	0	0
IRS990ScheduleD/RevenueSubtotalAmt	0	704827
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Informational returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no informational returns are currently being examined by the Internal Revenue Service, tax years since 2012 remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	14914175
IRS990ScheduleD/TotalExpensesPerForm990Amt	0	1234934
IRS990ScheduleD/TotalLiabilityAmt	0	109163
IRS990ScheduleD/TotalRevenuePerForm990Amt	0	704827
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt	0	704827
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt	0	1234934
IRS990ScheduleJ/AnyNonFixedPaymentsInd	0	0
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd	0	0
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd	0	0
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd	0	0
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd	0	0
IRS990ScheduleJ/EquityBasedCompArrngmInd	0	0
IRS990ScheduleJ/InitialContractExceptionInd	0	0
IRS990/ScheduleJRequiredInd	0	1
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	0	531648
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	1	180389

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $15,619,055
Liabilities: $15,757,099
Net assets: -$138,044
Revenue: $704,827
Expenses: $1,234,934
Net income: -$530,107

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.	$10.9	$16.7	$5.74	$1.55	$1.78	$0.23
2023Summary only. Only limited summary data is available for this year.	$11.0	$16.5	$5.51	$0.80	$1.54	$0.74
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.	$11.5	$16.3	$4.76	$0.76	$1.51	$0.76
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$12.0	$16.0	$4.00	$0.80	$1.50	$0.70
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.	$12.6	$15.9	$3.30	$0.83	$1.50	$0.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$13.1	$15.7	$2.64	$0.79	$1.38	$0.58
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$13.6	$15.7	$2.06	$0.74	$1.49	$0.75
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.	$14.4	$15.7	$1.31	$0.67	$1.25	$0.58
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$14.9	$15.6	$0.72	$0.67	$1.26	$0.59
2015Detailed filing. Detailed filing data is available for this year.	$15.6	$15.8	$0.14	$0.70	$1.23	$0.53
2014Detailed filing. Detailed filing data is available for this year.	$16.1	$15.7	$0.39	$0.69	$1.25	$0.56
2013Detailed filing. Detailed filing data is available for this year.	$16.6	$15.6	$0.95	$0.70	$1.26	$0.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$17.3	$15.7	$1.52		$1.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$18.0	$15.9	$2.10		$0.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$8.95	$7.92	$1.04		$0.00