Civic Intelligence

1068 Franklin Avenue Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 20-8317595

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

1776 Clay AveBronx, NY 10457

(718) 991-4270

Siviq Scores

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

Liabilities / Assets

71st percentile

1.04x

Higher debt load relative to assets than 71% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

18.69x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Net Margin

60th percentile

3.0%

Higher net margin than 60% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

94th percentile

$862,705

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 156.9% of source-year revenue.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Asset Growth

48th percentile

-1.8%

Faster asset growth than 48% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

40th percentile

0.0%

Faster revenue growth than 40% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$9,900,517

Down $185,184 (-1.8%) from 2018

Net Assets

Up

-$381,624

Up $16,705 (+4.2%) from 2018

Liabilities

Down

$10,282,141

Down $201,889 (-1.9%) from 2018

Revenue

Flat

$550,000

Flat from 2018

Expenses

Down

$533,295

Down $12,209 (-2.2%) from 2018

Net Income

Up

$16,705

Up $12,209 (+272%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2014: $10,857,708Liabilities 2014: $11,215,357Net Assets 2014: -$357,6492014Assets 2016: $10,459,443Liabilities 2016: $10,881,472Net Assets 2016: -$422,0292016Assets 2017: $10,272,353Liabilities 2017: $10,675,178Net Assets 2017: -$402,8252017Assets 2018: $10,085,701Liabilities 2018: $10,484,030Net Assets 2018: -$398,3292018Assets 2019: $9,900,517Liabilities 2019: $10,282,141Net Assets 2019: -$381,6242019Assets 2020: $9,713,476Liabilities 2020: $10,082,794Net Assets 2020: -$369,3182020Assets 2021: $9,526,273Liabilities 2021: $9,983,079Net Assets 2021: -$456,8062021Assets 2022: $9,420,420Liabilities 2022: $9,910,001Net Assets 2022: -$489,5812022Assets 2023: $9,284,962Liabilities 2023: $9,698,824Net Assets 2023: -$413,8622023Assets 2024: $9,067,858Liabilities 2024: $9,174,144Net Assets 2024: -$106,2862024

Highlighted filing

2019

Assets$9,900,517
Liabilities$10,282,141
Net Assets-$381,624

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $1,080,310Expenses 2014: $1,139,717Net Income 2014: -$59,4072014Revenue 2016: $550,000Expenses 2016: $574,931Net Income 2016: -$24,9312016Revenue 2017: $550,000Expenses 2017: $530,796Net Income 2017: $19,2042017Revenue 2018: $550,000Expenses 2018: $545,504Net Income 2018: $4,4962018Revenue 2019: $550,000Expenses 2019: $533,295Net Income 2019: $16,7052019Revenue 2020: $550,000Expenses 2020: $537,694Net Income 2020: $12,3062020Revenue 2021: $550,000Expenses 2021: $637,488Net Income 2021: -$87,4882021Revenue 2022: $550,000Expenses 2022: $582,775Net Income 2022: -$32,7752022Revenue 2023: $650,000Expenses 2023: $574,281Net Income 2023: $75,7192023Revenue 2024: $907,077Expenses 2024: $603,413Net Income 2024: $303,6642024

Highlighted filing

2019

Revenue$550,000
Expenses$533,295
Net Income$16,705
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$550,000
Mission and Program Overview

Mission

To provide emergency housing for adults in bronx, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,484,576$9,233,056▼ $251,520
Cash and Non-Interest-Bearing Accounts$182,945$340,948▲ $158,003
Accounts Receivable$91,667$0▼ $91,667
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$10,085,701$9,900,517▼ $185,184
Other Assets Total$326,513$326,513→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,471,017$10,268,099▼ $202,918
Accounts Payable and Accrued Expenses$13,013$14,042▲ $1,029
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$10,484,030$10,282,141▼ $201,889
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-398,329$-381,624▲ $16,705
Total Net Assets Fund Balance$-398,329$-381,624▲ $16,705
Total Liabilities and Net Assets / Fund Balance$10,085,701$9,900,517▼ $185,184

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,671,364$2,389,441$10,060,805
Land$1,561,692-$1,561,692
Other Land Buildings-$100,406$100,406
Equipment-$28,097$28,097
Compensation and Service Providers

Employees

NameTitleOtherTotal
Hector L DiazPresident (through 1/31/19)$62,499$62,499

Board Members and Trustees

NameTitle
Carlos Laboy-diazChair
Raul RussiCEO and President
Eliezer RodriguezVice Chair
Milton a DerienzoCFO
Lymaris AlborsChief of Staff/COO
Jose R RodriguezCLO
David CollymoreCMO
Pamela MattelFormer COO (through 6/30/18)
Aileen BetancesMember
Ingle StephensMember
Pedro FalconSecretary
Eduardo AlayonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$550,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$16,705
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$533,295
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
Interest$280,721--$280,721
Depreciation Depletion$251,520--$251,520
Fees for Services Accounting$975--$975
Office Expenses$79--$79
Total Functional Expenses$533,295$0$0$533,295
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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
No

Governance Explanations

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

Annual signed statements are provided that affirms that the interested parties are in compliance with the conflict of interest policy.

Form 990, Part VI, Section C, Line 19

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

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

The 990 is distributed to the board of directors prior to filing.

Form 990, Part VI, Section B, Line 15A & 15B

Pursuant to the Organization's bylaws, the Organization delegates to its parent entity the hiring of the CEO and President. The compensation of the executives is approved by the Parent entity, who hires a consultant to conduct a study. A standing compensation commitee of the Parent entity reviews a compensation study and votes on how to proceed.

Filing and Contact Details

Filer

Filer Name
1068 Franklin Avenue HDFC
EIN
20-8317595
In Care Of
% STEVE KADIN
Phone
7189914270
Address
1776 Clay Ave, Bronx, NY 10457

Signing Officer

Name
Raul Russi
Title
CEO and President
Phone
7182991100
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raul Russi
Formed
2006
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Shawn Gillon
Phone
7328281614
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IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROVIDE EMERGENCY HOUSING FOR ADULTS IN BRONX, NY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt010471017
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt010268099
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IRS990/NetAssetsOrFundBalancesEOYAmt0-381624
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-398329
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-381624
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt079
IRS990/OfficeExpensesGrp/TotalAmt079
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0326513
IRS990/OtherAssetsTotalGrp/EOYAmt0326513
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0RAUL RUSSI
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0624200
IRS990/ProgramServiceRevenueGrp/Desc0RENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0550000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0550000
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IRS990/PYInvestmentIncomeAmt00
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt016705
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt07671364
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02389441
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010060805
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028097
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028097
IRS990ScheduleD/LandGrp/BookValueAmt01561692
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01561692
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0100406
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0100406
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09233056
IRS990ScheduleJ/AnyNonFixedPaymentsInd0true
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt50
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt0181414
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt167500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt259600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt333571
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0603969
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1352878
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2315640
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3335035
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4283252
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt021000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt19184

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