Civic Intelligence

Rivertown Housing Development Fund

EIN 22-2767974 • 501(c)3 • Athens, NY

Profile

Low-income senior housing - to own, operate, and manage senior citizen apartment projects under fmha guidelines - 52 units.

19 Third StreetAthens, NY 12015

www.rivertownhousing.org

Siviq Scores

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

Liabilities / Assets

88th percentile

1.69x

Higher debt load relative to assets than 88% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

7.71x

Higher debt load relative to revenue than 82% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Net Margin

32nd percentile

-18%

Higher net margin than 32% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE L • $1M-$5M nonprofits • Source year 2024

Asset Growth

76th percentile

6.0%

Faster asset growth than 76% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

55th percentile

4.6%

Faster revenue growth than 55% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$1,868,427

Up $105,163 (+6.0%) from 2023

Liabilities

Up

$3,163,851

Up $179,811 (+6.0%) from 2023

Net Assets

Down

-$1,295,424

Down $74,648 (-6.1%) from 2023

Operations
Liabilities / Revenue82nd percentileNet Margin32nd percentile

Revenue

Up

$410,206

Up $18,112 (+4.6%) from 2023

Expenses

Up

$484,854

Up $32,035 (+7.1%) from 2023

Net Income

Down

-$74,648

Down $13,923 (-23%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth76th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $1,366,667Liabilities 2011: $2,090,176Net Assets 2011: -$723,5092011Assets 2012: $1,392,493Liabilities 2012: $2,094,574Net Assets 2012: -$702,0812012Assets 2013: $1,408,022Liabilities 2013: $2,102,102Net Assets 2013: -$694,0802013Assets 2014: $1,356,477Liabilities 2014: $2,176,972Net Assets 2014: -$820,4952014Assets 2015: $1,292,117Liabilities 2015: $2,161,507Net Assets 2015: -$869,3902015Assets 2016: $1,214,671Liabilities 2016: $2,140,576Net Assets 2016: -$925,9052016Assets 2017: $1,153,032Liabilities 2017: $2,148,487Net Assets 2017: -$995,4552017Assets 2018: $1,095,781Liabilities 2018: $2,125,759Net Assets 2018: -$1,029,9782018Assets 2019: $1,069,155Liabilities 2019: $2,102,072Net Assets 2019: -$1,032,9172019Assets 2020: $1,017,388Liabilities 2020: $2,077,448Net Assets 2020: -$1,060,0602020Assets 2021: $1,070,706Liabilities 2021: $2,178,054Net Assets 2021: -$1,107,3482021Assets 2022: $1,646,525Liabilities 2022: $2,806,576Net Assets 2022: -$1,160,0512022Assets 2023: $1,763,264Liabilities 2023: $2,984,040Net Assets 2023: -$1,220,7762023Assets 2024: $1,868,427Liabilities 2024: $3,163,851Net Assets 2024: -$1,295,4242024

Highlighted filing

2024

Assets$1,868,427
Liabilities$3,163,851
Net Assets-$1,295,424
Open 2024 Filing

Operations Trend

Revenue Growth55th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $414,113Expenses 2011: $450,225Net Income 2011: -$36,1122011Expenses 2012: $420,3982012Revenue 2013: $460,779Expenses 2013: $452,397Net Income 2013: $8,3822013Revenue 2014: $415,093Expenses 2014: $541,508Net Income 2014: -$126,4152014Revenue 2015: $399,833Expenses 2015: $448,728Net Income 2015: -$48,8952015Revenue 2016: $397,280Expenses 2016: $453,794Net Income 2016: -$56,5142016Revenue 2017: $392,848Expenses 2017: $462,398Net Income 2017: -$69,5502017Revenue 2018: $393,642Expenses 2018: $428,165Net Income 2018: -$34,5232018Revenue 2019: $405,526Expenses 2019: $408,465Net Income 2019: -$2,9392019Revenue 2020: $376,862Expenses 2020: $408,450Net Income 2020: -$31,5882020Revenue 2021: $365,894Expenses 2021: $413,182Net Income 2021: -$47,2882021Revenue 2022: $378,983Expenses 2022: $431,686Net Income 2022: -$52,7032022Revenue 2023: $392,094Expenses 2023: $452,819Net Income 2023: -$60,7252023Revenue 2024: $410,206Expenses 2024: $484,854Net Income 2024: -$74,6482024

Highlighted filing

2024

Revenue$410,206
Expenses$484,854
Net Income-$74,648
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,868,427
Liabilities
$3,163,851
Net assets
-$1,295,424
Revenue
$410,206
Expenses
$484,854
Net income
-$74,648
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.87$3.16$1.30$0.41$0.48$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.76$2.98$1.22$0.39$0.45$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.65$2.81$1.16$0.38$0.43$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.07$2.18$1.11$0.37$0.41$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.02$2.08$1.06$0.38$0.41$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.07$2.10$1.03$0.41$0.41$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.10$2.13$1.03$0.39$0.43$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.15$2.15$1.00$0.39$0.46$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.21$2.14$0.93$0.40$0.45$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.29$2.16$0.87$0.40$0.45$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.36$2.18$0.82$0.42$0.54$0.13
2013Detailed filing. Detailed filing data is available for this year.$1.41$2.10$0.69$0.46$0.45$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$2.09$0.70$0.42
2011Summary only. Only limited summary data is available for this year.$1.37$2.09$0.72$0.41$0.45$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.0
Gross Receipts
$410,206
Mission and Program Overview

Mission

Low-income senior housing - to own, operate, and manage senior citizen apartment projects under fmha guidelines - 52 units.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,422,927$1,537,569▲ $114,642
Savings and Temporary Cash Investments$244,563$205,633▼ $38,930
Cash and Non-Interest-Bearing Accounts$90,364$114,585▲ $24,221
Prepaid Expenses and Deferred Charges$5,410$10,640▲ $5,230
Total Assets$1,763,264$1,868,427▲ $105,163
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,931,018$3,122,694▲ $191,676
Accounts Payable and Accrued Expenses$39,845$41,157▲ $1,312
Deferred Revenue$13,177--
Total Liabilities$2,984,040$3,163,851▲ $179,811
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,220,776$-1,295,424▼ $74,648
Total Net Assets Fund Balance$-1,220,776$-1,295,424▼ $74,648
Total Liabilities and Net Assets / Fund Balance$1,763,264$1,868,427▲ $105,163

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$381,007$1,808,496$2,189,503
Other Land Buildings$917,843-$917,843
Leasehold Improvements$155,347$741,617$896,964
Equipment$41,372$87,649$129,021
Land$42,000-$42,000
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Paul SalvinoPresident
Ed BloomerTrustee/dire
Tami BoneTrustee/dire
Barbara IraciSecretary
Mary BrandowTreasurer
Richard GoldenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$188,793
Program Service Revenue
$163,073
Investment Income
$265
Other Revenue
$58,075
Change in Net Assets
$-74,648

Audited Revenue Reconciliation

Revenue per Audited Statements
$410,206
Total Revenue per Audited Statements
$410,206
Total Revenue per Form 990
$410,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,089
Salaries, Compensation, and Employee Benefits$101,765
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$107,069--$107,069
Interest$68,931--$68,931
Current Officers, Directors, Trustees, and Key Employees-$61,094-$61,094
All Other Expenses$44,547--$44,547
Other Salaries and Wages$31,729--$31,729
Insurance$26,157--$26,157
Fees for Services Accounting-$21,546-$21,546
Other Expenses$17,339--$17,339
Payroll Taxes$4,268$4,674-$8,942
Office Expenses-$3,495-$3,495
Advertising$411--$411
Fees for Services Legal-$50-$50
Total Functional Expenses$393,995$90,859$0$484,854

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$484,854
Total Expenses per Audited Statements$484,854
Total Expenses per Form 990$484,854
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
Yes
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, Page 6, Part VI, Line 11B

“A copy of the form and all appropriate schedules was sent to each board member for review and comment before filing.”

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

“The written conflict of interest policy is in accordance with usda rural development guidelines and is monitored accordingly.”

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

“Management salaries are calculated using formulas provided by usda rural development. In addition, formal budgets are approved by usda rural development.”

Form 990, Page 6, Part VI, Line 19

“The only activity of the organization is operation of usda rural development low-income housing. Accordingly, all governing documents and policies are published by usda and the organization directs the public to appropriate websites and/or offices. Financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Rivertown Housing Development Fund
EIN
22-2767974
Phone
5189451751
Address
19 THIRD STREET, ATHENS, NY 12015

Signing Officer

Name
Paul Salvino
Title
President
Phone
5189451751
Signed
2025-11-03

Organization Details

Principal Officer
Paul Salvino
Formed
1986
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
4

Preparer

Firm
Accounting Offices of Tom Fucito CPA Pc
Address
PO BOX 897, CAIRO, NY 12413-0897
Preparer
Thomas Fucito CPA
Phone
5186222844
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0205633
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CABLE TV / LOCAL GRANTS 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0186271
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0165546
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0183065
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0194990
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM AND ALL APPROPRIATE SCHEDULES WAS SENT TO EACH BOARD MEMBER FOR REVIEW AND COMMENT BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WRITTEN CONFLICT OF INTEREST POLICY IS IN ACCORDANCE WITH USDA RURAL DEVELOPMENT GUIDELINES AND IS MONITORED ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT SALARIES ARE CALCULATED USING FORMULAS PROVIDED BY USDA RURAL DEVELOPMENT. IN ADDITION, FORMAL BUDGETS ARE APPROVED BY USDA RURAL DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ONLY ACTIVITY OF THE ORGANIZATION IS OPERATION OF USDA RURAL DEVELOPMENT LOW-INCOME HOUSING. ACCORDINGLY, ALL GOVERNING DOCUMENTS AND POLICIES ARE PUBLISHED BY USDA AND THE ORGANIZATION DIRECTS THE PUBLIC TO APPROPRIATE WEBSITES AND/OR OFFICES. FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine1Txt049 SALVINO DR
IRS990/USAddress/CityNm0ATHENS
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012015
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IRS990/WebsiteAddressTxt0WWW.RIVERTOWNHOUSING.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL SALVINO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05189451751
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RIVERTOWN HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CO INC
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0222767974
ReturnHeader/Filer/PhoneNum05189451751
ReturnHeader/Filer/USAddress/AddressLine1Txt019 THIRD STREET
ReturnHeader/Filer/USAddress/CityNm0ATHENS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012015
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471943623
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ACCOUNTING OFFICES OF TOM FUCITO CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 897
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CAIRO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0124130897
ReturnHeader/PreparerPersonGrp/PhoneNum05186222844
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS FUCITO CPA
ReturnHeader/ReturnTs02025-11-06T09:31:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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