Civic Intelligence

Broadway Housing Development Fund Company Inc.

990 • Fiscal year 2017 • EIN 22-2917994

Jan 01, 2017 to Dec 31, 2017 • Filed on May 01, 2018

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

36th percentile

0.14x

Higher debt load relative to assets than 36% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

70th percentile

0.71x

Higher debt load relative to revenue than 70% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

97th percentile

75%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

37th percentile

$199,676

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

12th percentile

-5.4%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

95%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Down

$29,873,229

Down $1,701,580 (-5.4%) from 2016

Net Assets

Up

$25,800,776

Up $4,270,283 (+20%) from 2016

Liabilities

Down

$4,072,453

Down $5,971,863 (-59%) from 2016

Revenue

Up

$5,728,390

Up $2,797,727 (+95%) from 2016

Expenses

Up

$1,405,749

Up $297,216 (+27%) from 2016

Net Income

Up

$4,322,641

Up $2,500,511 (+137%) from 2016

Historical Trend

Balance Sheet Trend

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

2017

Assets$29,873,229
Liabilities$4,072,453
Net Assets$25,800,776

Operations Trend

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

2017

Revenue$5,728,390
Expenses$1,405,749
Net Income$4,322,641
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 1, 2018
Return Version
2017v2.3
Gross Receipts
$5,728,390
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$5,102,308$4,948,615▼ $153,693
Cash and Non-Interest-Bearing Accounts$179,956$380,360▲ $200,404
Savings and Temporary Cash Investments$200,898$200,978▲ $80
Accounts Receivable$126,504$129,464▲ $2,960
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$31,574,809$29,873,229▼ $1,701,580
Other Assets Total$9,053,717$7,302,386▼ $1,751,331
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,336,295$2,422,448▼ $913,847
Unsecured Notes Loans Payable$5,924,530$924,530▼ $5,000,000
Other Liabilities$591,166$383,902▼ $207,264
Grants Payable$0$146,730▲ $146,730
Deferred Revenue$85,926$98,561▲ $12,635
Accounts Payable and Accrued Expenses$106,399$96,282▼ $10,117
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$10,044,316$4,072,453▼ $5,971,863
Net Assets / Fund Balance
Unrestricted Net Assets$21,530,493$25,800,776▲ $4,270,283
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$21,530,493$25,800,776▲ $4,270,283
Total Liabilities and Net Assets / Fund Balance$31,574,809$29,873,229▼ $1,701,580

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,702,946$3,129,769$6,832,715
Land$1,245,669-$1,245,669
Equipment$0$0$0
Other Assets Org$3,234,685--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Abraham FallonDirector of Tech & Info SysPT$141,124$141,124
Melissa BensonDirector of DevelopmentPT$132,562$132,562
Charlene MelvilleDirector EducationPT$125,551$125,551
Lauren KelleyDirector of MuseumPT$117,782$117,782
David NathansonCFO (as of 10/2017)PT$35,496$35,496

Board Members and Trustees

NameTitle
Alan WeilChair
Ellen BaxterPresident
Mary Ann VillariVice President & Secretary
Susan MackenzieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,975,479
Program Service Revenue
$1,640,520
Investment Income
$0
Other Revenue
$112,391
All Other Contributions
$3,000,000
Change in Net Assets
$4,322,641

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 Table2$3,899,234Fair Market Value (FMV)
Total Noncash Contributions2$3,899,234-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,054,443
Grants and Similar Amounts Paid$351,306
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$351,306--$351,306
Occupancy$171,833--$171,833
Depreciation Depletion$170,693--$170,693
Fees for Services Management-$99,095-$99,095
Other Expenses$71,918--$71,918
Insurance$62,900--$62,900
Office Expenses$53,064$195-$53,259
Fees for Services Accounting-$36,500-$36,500
Fees for Services Legal$14,114--$14,114
Fees for Services Other$13,750--$13,750
Interest$8,473--$8,473
Total Functional Expenses$1,269,959$135,790$0$1,405,749
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Broadway Housing Communities IncNew York, NY501(c)(3)Development$351,306
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
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
Mortgage Interest Payable$291,816
Tenant Security Deposits$60,700
Due to Affiliates$31,386
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
Yes
Other officer compensation reviewed
Yes
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 its 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 B, Lines 15A & 15B

The organization's board of directors review the president's and vice president's compensation, as well as reviews salary surveys from several sources to determine their compensation.

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
% DAVID NATHANSON
Phone
2125682030
Address
583 RIVERSIDE DRIVE, NEW YORK, NY 10031

Signing Officer

Name
David Nathanson
Title
CFO
Phone
2125682030
Signed
2018-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ellen Baxter
Formed
1988
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
2
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.

Form 990 - Part XI, Line 9

Loss on uncollectible receivables of $52,358.

Financial Statement Notes

Part X, Line 2 - 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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CFO (AS OF 10/2017)
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR EDUCATION
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR OF TECH & INFO SYS
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR OF MUSEUM
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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Document Assets

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Filings

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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $25M-$50M nonprofits