Civic Intelligence

1068 Franklin Avenue Housing Development Fund Corporation

990 • Fiscal year 2020 • EIN 20-8317595

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

1776 Clay AveBronx, NY 10457

(718) 991-4270

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$9,713,476

Flat from 2020

Net Assets

Flat

-$369,318

Flat from 2020

Liabilities

Flat

$10,082,794

Flat from 2020

Revenue And Expenses

Revenue

Flat

$550,000

Flat from 2020

Expenses

Flat

$537,694

Flat from 2020

Net Income

Flat

$12,306

Flat from 2020

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 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

2020

Assets$9,713,476
Liabilities$10,082,794
Net Assets-$369,318

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 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

2020

Revenue$550,000
Expenses$537,694
Net Income$12,306
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
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$9,233,056$8,981,536▼ $251,520
Cash and Non-Interest-Bearing Accounts$340,948$405,427▲ $64,479
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$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$9,900,517$9,713,476▼ $187,041
Other Assets Total$326,513$326,513→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,268,099$10,066,594▼ $201,505
Accounts Payable and Accrued Expenses$14,042$16,200▲ $2,158
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$10,282,141$10,082,794▼ $199,347
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-381,624$-369,318▲ $12,306
Total Net Assets Fund Balance$-381,624$-369,318▲ $12,306
Total Liabilities and Net Assets / Fund Balance$9,900,517$9,713,476▼ $187,041

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,419,844$2,640,961$10,060,805
Land$1,561,692-$1,561,692
Other Land Buildings$0$100,406$100,406
Equipment$0$28,097$28,097
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$550,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$12,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$537,694
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$282,138--$282,138
Depreciation Depletion$251,520--$251,520
Occupancy$2,439--$2,439
Fees for Services Accounting-$1,525-$1,525
Office Expenses-$72-$72
Total Functional Expenses$536,097$1,597$0$537,694
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
No
Other officer compensation reviewed
No
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 committee 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
Carlos Laboy-Diaz
Title
Chair
Phone
7182991100
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlos Laboy-Diaz
Formed
2006
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Annual signed statements are provided that affirms that the interested parties are in compliance with the conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Pursuant 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 committee of the Parent entity reviews a compensation study and votes on how to proceed.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A & 15B
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