Civic Intelligence

Broadway Housing Development Fund Company Inc.

990 • Fiscal year 2015 • EIN 22-2917994

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

Organization ProfileBROADWAYHOUSING.ORG
583 Riverside DriveNew York, NY 10031

(212) 568-2030

Siviq Scores

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

Liabilities / Assets

61st percentile

0.39x

Higher debt load relative to assets than 61% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

83rd percentile

1.56x

Higher debt load relative to revenue than 83% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

97th percentile

78%

Higher net margin than 97% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

34th percentile

$190,445

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

89th percentile

24%

Faster asset growth than 89% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

98th percentile

253%

Faster revenue growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$32,414,134

Up $6,369,553 (+24%) from 2014

Net Assets

Up

$19,708,363

Up $6,358,594 (+48%) from 2014

Liabilities

Up

$12,705,771

Up $10,959 (+0.1%) from 2014

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin97th percentile

Revenue

Up

$8,145,634

Up $5,838,080 (+253%) from 2014

Expenses

Up

$1,787,040

Up $443,865 (+33%) from 2014

Net Income

Up

$6,358,594

Up $5,394,215 (+559%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$40M$30M$20M$10M$0Assets 2010: $20,299,426Liabilities 2010: $14,845,010Net Assets 2010: $5,454,4162010Assets 2011: $22,931,132Liabilities 2011: $14,713,320Net Assets 2011: $8,217,8122011Assets 2012: $26,868,799Liabilities 2012: $14,290,311Net Assets 2012: $12,578,4882012Assets 2013: $25,661,954Liabilities 2013: $13,276,564Net Assets 2013: $12,385,3902013Assets 2014: $26,044,581Liabilities 2014: $12,694,812Net Assets 2014: $13,349,7692014Assets 2015: $32,414,134Liabilities 2015: $12,705,771Net Assets 2015: $19,708,3632015Assets 2016: $31,574,809Liabilities 2016: $10,044,316Net Assets 2016: $21,530,4932016Assets 2017: $29,873,229Liabilities 2017: $4,072,453Net Assets 2017: $25,800,7762017Assets 2018: $30,311,908Liabilities 2018: $4,373,744Net Assets 2018: $25,938,1642018Assets 2019: $31,731,073Liabilities 2019: $1,658,409Net Assets 2019: $30,072,6642019Assets 2020: $31,858,530Liabilities 2020: $1,733,954Net Assets 2020: $30,124,5762020Assets 2021: $32,985,315Liabilities 2021: $1,761,918Net Assets 2021: $31,223,3972021Assets 2022: $32,880,239Liabilities 2022: $1,990,631Net Assets 2022: $30,889,6082022Assets 2023: $32,077,275Liabilities 2023: $2,247,013Net Assets 2023: $29,830,2622023Assets 2024: $26,315,107Liabilities 2024: $1,250,445Net Assets 2024: $25,064,6622024

Highlighted filing

2015

Assets$32,414,134
Liabilities$12,705,771
Net Assets$19,708,363
Open 2015 Filing

Operations Trend

Revenue Growth98th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $1,167,1712010Expenses 2011: $1,073,2492011Expenses 2012: $2,762,7422012Revenue 2013: $2,129,679Expenses 2013: $2,322,777Net Income 2013: -$193,0982013Revenue 2014: $2,307,554Expenses 2014: $1,343,175Net Income 2014: $964,3792014Revenue 2015: $8,145,634Expenses 2015: $1,787,040Net Income 2015: $6,358,5942015Revenue 2016: $2,930,663Expenses 2016: $1,108,533Net Income 2016: $1,822,1302016Revenue 2017: $5,728,390Expenses 2017: $1,405,749Net Income 2017: $4,322,6412017Revenue 2018: $2,805,952Expenses 2018: $2,663,372Net Income 2018: $142,5802018Revenue 2019: $5,543,729Expenses 2019: $1,409,229Net Income 2019: $4,134,5002019Revenue 2020: $943,437Expenses 2020: $891,525Net Income 2020: $51,9122020Revenue 2021: $1,839,643Expenses 2021: $703,388Net Income 2021: $1,136,2552021Revenue 2022: $848,119Expenses 2022: $913,515Net Income 2022: -$65,3962022Revenue 2023: $828,752Expenses 2023: $1,943,507Net Income 2023: -$1,114,7552023Revenue 2024: $1,096,231Expenses 2024: $5,885,318Net Income 2024: -$4,789,0872024

Highlighted filing

2015

Revenue$8,145,634
Expenses$1,787,040
Net Income$6,358,594
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
$8,145,634
Mission and Program Overview

Mission

To develop, operate and manage housing in new york city for homeless and low income individuals and families.

To develop, operate and manage housing in nyc for homeless and low nyc for homeless and low income individuals and families to provide social and educational resources to achieve productive lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$16,911,426$16,911,426→ $0
Land, Buildings, and Equipment, Net$5,134,146$5,234,055▲ $99,909
Accounts Receivable$142,291$133,091▼ $9,200
Cash and Non-Interest-Bearing Accounts$171,637$107,827▼ $63,810
Savings and Temporary Cash Investments$874$874→ $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$26,044,581$32,414,134▲ $6,369,553
Other Assets Total$3,684,207$10,026,861▲ $6,342,654
Liabilities
Unsecured Notes Loans Payable$5,924,530$5,924,530→ $0
Mortgage Notes Payable Secured by Investment Property$5,422,578$4,688,280▼ $734,298
Other Liabilities$1,058,100$1,785,596▲ $727,496
Accounts Payable and Accrued Expenses$228,917$243,388▲ $14,471
Deferred Revenue$60,687$63,977▲ $3,290
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,694,812$12,705,771▲ $10,959
Net Assets / Fund Balance
Unrestricted Net Assets$13,349,769$19,708,363▲ $6,358,594
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$13,349,769$19,708,363▲ $6,358,594
Total Liabilities and Net Assets / Fund Balance$26,044,581$32,414,134▲ $6,369,553

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,988,386$2,788,804$6,777,190
Land$1,245,669-$1,245,669
Other Assets Org$3,986,340--
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Steven SmithChief Financial OfficerPT$128,593$128,593
Melissa BensonDirector of DevelopmentPT$126,495$126,495
Charlene MelvilleDirector EducationPT$117,193$117,193

Board Members and Trustees

NameTitle
Ellen BaxterPresident
Fr John FeliceVice President
Susanne DevalleDirector Sugar Hill Museum
Mary Ann VillariSecretary & General Counsel
Revenue and Support

Revenue Composition

Contributions and Grants
$927,476
Program Service Revenue
$6,059,642
Investment Income
$0
Other Revenue
$1,158,516
Change in Net Assets
$6,358,594

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$927,476Fair Market Value (FMV)
Total Noncash Contributions1$927,476-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,176,474
Grants and Similar Amounts Paid$610,566
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$610,566--$610,566
Office Expenses$502,148$275-$502,423
Occupancy$195,770--$195,770
Depreciation Depletion$165,239--$165,239
Fees for Services Management-$96,277-$96,277
Insurance$57,450--$57,450
Fees for Services Accounting-$40,000-$40,000
Fees for Services Legal$26,244--$26,244
Interest$23,161--$23,161
Other Expenses$10,300--$10,300
Travel$377--$377
Total Functional Expenses$1,650,488$136,552$0$1,787,040
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Broadway Sugar Hill Housing LpNew York, NYN/aDevelopment$535,000
Sugar Hill New Market Tax Credit IncNew York, NY501(c)(4)Development$71,710
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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$1,104,455
Mortgage Interest Payable$619,229
Tenant Security Deposits$61,912
Governance and Compliance

Governance Checklist

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

Part VI, Section A, Line 3

“Pursuant to an agreement between the organization and bhc, bhc is entitled to a management fee equal to a predetermined % of the gross rental income of properties it services for bhdfc. In addition, bhc pays all payroll and related taxes and benefits through it centralized payroll and charges the organization for these expenses through an intercompany account based on specific employee assignments and estimated allocations.”

Part VI, Section A, Line 7A

“The organization's board of directors are elected by bhc, a related organization.”

Part VI, Section A, Line 11A

“The organization provides copies of the form 990 to its board of directors for review and based on its approval, the form 990 is filed.”

Part VI, Section B, Line 12C

“The organization requires that each of its board members sign an annual conflicts of interest notice.”

Part VI, Section C, Line 19

“The organization makes its form 990 and consolidated financial statements available upon request. The governing documents and conflicts of interest policy are distributed internally and not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Broadway Housing Development Fund Co Inc
EIN
22-2917994
In Care Of
% JANET MCCREATH
Phone
2125682030
Address
583 RIVERSIDE DRIVE, NEW YORK, NY 10031

Signing Officer

Name
Mary Ann Villari
Title
COO
Phone
2125682030
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ellen Baxter
Formed
1988
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0

Preparer

Firm
Eisneramper Llp
Address
750 THIRD AVENUE, NEW YORK, NY 10017-2703
Preparer
Candice Meth
Phone
2129498700
Supplemental Narrative

Additional Explanations

Form 8868

“An application for extension of time to file an exempt organization return was filed electronically.”

Financial Statement Notes

PART X: ASC 740 FOOTNOTE

“The organization follows the provisions of the financial accounting standards board's (the "fasb") accounting standards codification ("asc") topic 740 relating to accounting and reporting for uncertainty in income taxes. Because of the organization's general tax-exempt status, management believes asc topic 740 has not had, and is not expected to have, a material effect on its consolidated financial statements.”

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IRS990/Desc0THE ORGANIZATION DEVELOPS, OWNS AND THROUGH ITS NOT FOR PROFIT AFFILIATE, BROADWAY HOUSING COMMUNITIES, INC. ("BHC"), MANAGES PERMANENT HOUSING FOR LOW INCOME AND PREVIOUSLY, HOMELESS INDIVIDUALS, INCLUDING THOSE WITH SPECIAL NEEDS. AT PRESENT THE ORGANIZATION OWNS 4 BUILDINGS WITH A TOTAL OF 138 UNITS IN NORTHERN MANHATTAN. A FIFTH MIXED USE PROJECT IS NOW IN DEVELOPMENT ON THE NORTHERN BOUNDARY OF HARLEM'S SUGAR HILL THAT WILL PROVIDE 124 AFFORDABLE APARTMENTS TO LOW INCOME INDIVIDUALS AND FAMILIES, AN EARLY CHILDHOOD EDUCATION CENTER AND CULTURAL RESOURCES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY & GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR SUGAR HILL MUSEUM
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt010007337
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01842761
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01630386
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0749602
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE INTEREST RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$32,414,134
Liabilities
$12,705,771
Net assets
$19,708,363
Revenue
$8,145,634
Expenses
$1,787,040
Net income
$6,358,594
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.3$1.25$25.1$1.10$5.89$4.79
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.1$2.25$29.8$0.83$1.94$1.11
2022Detailed filing. Detailed filing data is available for this year.$32.9$1.99$30.9$0.85$0.91$0.07
2021Detailed filing. Detailed filing data is available for this year.$33.0$1.76$31.2$1.84$0.70$1.14
2020Detailed filing. Detailed filing data is available for this year.$31.9$1.73$30.1$0.94$0.89$0.05
2019Detailed filing. Detailed filing data is available for this year.$31.7$1.66$30.1$5.54$1.41$4.13
2018Detailed filing. Detailed filing data is available for this year.$30.3$4.37$25.9$2.81$2.66$0.14
2017Detailed filing. Detailed filing data is available for this year.$29.9$4.07$25.8$5.73$1.41$4.32
2016Detailed filing. Detailed filing data is available for this year.$31.6$10.0$21.5$2.93$1.11$1.82
2015Detailed filing. Detailed filing data is available for this year.$32.4$12.7$19.7$8.15$1.79$6.36
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.0$12.7$13.3$2.31$1.34$0.96
2013Detailed filing. Detailed filing data is available for this year.$25.7$13.3$12.4$2.13$2.32$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$14.3$12.6$2.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$14.7$8.22$1.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$14.8$5.45$1.17
Peer Organizations

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