Civic Intelligence

Parkway Elderly Housing Development Fund Co Inc.

990 • Fiscal year 2017 • EIN 23-7314767

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 08, 2018

Organization ProfileN/A
101 Columbia StreetCorning, NY 14830

(607) 937-5361

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$2,869,240

Down $57,129 (-2.0%) from 2016

Net Assets

Up

$1,662,602

Up $56,190 (+3.5%) from 2016

Liabilities

Down

$1,206,638

Down $113,319 (-8.6%) from 2016

Revenue And Expenses

Revenue

Down

$1,565,622

Down $34,786 (-2.2%) from 2016

Expenses

Up

$1,509,432

Up $213,604 (+16%) from 2016

Net Income

Down

$56,190

Down $248,390 (-82%) from 2016

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2015: $2,689,195Liabilities 2015: $1,387,363Net Assets 2015: $1,301,8322015Assets 2016: $2,926,369Liabilities 2016: $1,319,957Net Assets 2016: $1,606,4122016Assets 2017: $2,869,240Liabilities 2017: $1,206,638Net Assets 2017: $1,662,6022017Assets 2018: $2,836,153Liabilities 2018: $1,178,977Net Assets 2018: $1,657,1762018Assets 2019: $2,732,783Liabilities 2019: $1,044,364Net Assets 2019: $1,688,4192019Assets 2020: $2,712,085Liabilities 2020: $971,477Net Assets 2020: $1,740,6082020Assets 2021: $2,705,260Liabilities 2021: $908,069Net Assets 2021: $1,797,1912021Assets 2022: $2,818,437Liabilities 2022: $849,699Net Assets 2022: $1,968,7382022Assets 2023: $3,028,112Liabilities 2023: $789,326Net Assets 2023: $2,238,7862023Assets 2024: $3,021,164Liabilities 2024: $617,764Net Assets 2024: $2,403,4002024Assets 2025: $3,233,091Liabilities 2025: $539,058Net Assets 2025: $2,694,0332025

Highlighted filing

2017

Assets$2,869,240
Liabilities$1,206,638
Net Assets$1,662,602
Open 2017 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,666,313Expenses 2015: $1,440,974Net Income 2015: $225,3392015Revenue 2016: $1,600,408Expenses 2016: $1,295,828Net Income 2016: $304,5802016Revenue 2017: $1,565,622Expenses 2017: $1,509,432Net Income 2017: $56,1902017Revenue 2018: $1,535,966Expenses 2018: $1,541,392Net Income 2018: -$5,4262018Revenue 2019: $1,564,173Expenses 2019: $1,532,930Net Income 2019: $31,2432019Revenue 2020: $1,605,070Expenses 2020: $1,552,881Net Income 2020: $52,1892020Revenue 2021: $1,628,608Expenses 2021: $1,572,025Net Income 2021: $56,5832021Revenue 2022: $1,772,243Expenses 2022: $1,600,696Net Income 2022: $171,5472022Revenue 2023: $1,849,611Expenses 2023: $1,579,563Net Income 2023: $270,0482023Revenue 2024: $1,949,381Expenses 2024: $1,784,767Net Income 2024: $164,6142024Revenue 2025: $2,102,065Expenses 2025: $1,811,432Net Income 2025: $290,6332025

Highlighted filing

2017

Revenue$1,565,622
Expenses$1,509,432
Net Income$56,190
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 8, 2018
Return Version
2016v3.0
Gross Receipts
$1,565,622
Mission and Program Overview

Mission

To provide affordable housing to the elderly and qualified handicapped individuals.

To provide affordable housing to the elderly and qualified handicapped individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,278,193$1,376,569▲ $98,376
Accounts Receivable$59,589$116,707▲ $57,118
Cash and Non-Interest-Bearing Accounts$244,432$77,275▼ $167,157
Prepaid Expenses and Deferred Charges$61,531$71,608▲ $10,077
Total Assets$2,926,369$2,869,240▼ $57,129
Other Assets Total$1,282,624$1,227,081▼ $55,543
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,080,825$1,001,158▼ $79,667
Other Liabilities$145,364$109,599▼ $35,765
Accounts Payable and Accrued Expenses$90,711$91,683▲ $972
Deferred Revenue$3,057$4,198▲ $1,141
Total Liabilities$1,319,957$1,206,638▼ $113,319
Net Assets / Fund Balance
Unrestricted Net Assets$1,606,412$1,662,602▲ $56,190
Total Net Assets Fund Balance$1,606,412$1,662,602▲ $56,190
Total Liabilities and Net Assets / Fund Balance$2,926,369$2,869,240▼ $57,129

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,246,187$6,041,870$7,288,057
Other Land Buildings$38,497$598,277$636,774
Equipment$0$137,166$137,166
Land$91,885-$91,885
Other Assets Org$1,155,672--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rene SnyderPresident
Michael AstolfiVice President
Audrey WhitcombDirector
Carol GardnerDirector
Graham WightmanDirector
Jeffrey HeverlyDirector
Kenneth OvermanDirector
Patricia BaroodyDirector
Stephen CastnerDirector
Tom MillardDirector
Anne DarlingSecretary
Frederick MaloneyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Edc Management INCManagement Fee101 COLUMBIA STREET, Corning, NY 14830$116,520
Revenue and Support

Revenue Composition

Contributions and Grants
$133,358
Program Service Revenue
$1,430,436
Investment Income
$1,828
Other Revenue
$0
Change in Net Assets
$56,190

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,565,622
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,565,622
Total Revenue per Form 990
$1,565,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,204,476
Salaries, Compensation, and Employee Benefits$304,956
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$497,004$55,223-$552,227
Other Salaries and Wages$137,524$83,170-$220,694
Depreciation Depletion$179,970--$179,970
Fees for Services Management-$116,520-$116,520
Other Employee Benefits$33,245$33,244-$66,489
Fees for Services Other$55,310--$55,310
Payroll Taxes$8,887$8,886-$17,773
Office Expenses-$17,533-$17,533
Fees for Services Accounting-$15,000-$15,000
Other Expenses$251,316$10,432-$10,432
Advertising-$5,194-$5,194
Fees for Services Legal-$974-$974
Total Functional Expenses$1,163,256$346,176$0$1,509,432

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,509,432
Total Expenses per Audited Statements$1,509,432
Total Expenses per Form 990$1,509,432
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$71,409
Accrued City Services$38,190
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Edc management inc. Is the managing agent of the organization. Pursuant to management agreements, the organization pays edc management inc. A monthly management fee of a certain percentage of gross collections. In addition, the organziation pays edc management inc. For general contracting services.”

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

“At a regularly scheduled board meeting, the form 990 is reviewed, with resolution, and authorizes the board president to sign and file the from 990.”

Form 990, Part VI, Section C, Line 19

“The governing documents, policies, and financial statements are available to the public upon request.”

FORM 990, PART V, LINE 2A AND PART VI, SECTION B, LINE 15:

“The organization does not have employees of its own and does not file any w-2s. Salaries and related costs are included in part ix even though part v item 2a indicates zero employees. Individuals working with the organization are paid by edc management inc., the managing agent of the organization. Edc management charges the organization for the applicable payroll and benefits of those individuals and the organization has reported these amounts in part ix lines 7-10.”

Filing and Contact Details

Filer

Filer Name
Parkway Elderly Housing Development
EIN
23-7314767
Phone
6079375361
Address
101 COLUMBIA STREET, CORNING, NY 14830

Signing Officer

Name
Rene Snyder
Title
President
Phone
6079375361
Signed
2018-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rene Snyder
Formed
1973
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
12

Preparer

Firm
Mengel Metzger Barr & Co Llp
Address
333 EAST WATER ST STE 200, ELMIRA, NY 14901
Preparer
Katherine E Stickler CPA
Phone
6077344183
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

“The full board provides oversight of the audit and selection of auditors.”

Financial Statement Notes

PART X, LINE 2:

“Parkway elderly housing development fund co., inc. Is exempt from federal and state income taxes under internal revenue code section 501(c)(3) and applicable state regulations. The company files form 990 tax returns in the u.s. Federal jurisdiction and in new york state. With few exceptions, as of september 30, 2017, the corporation is no longer subject to u.s. Federal or state income tax examinations by tax authorities for years before september 30, 2014. The tax returns for the years ended september 30, 2014 through september 30, 2017 are still subject to potential audit by the irs and the taxing authorities in new york state. Management of the company believes it has no material uncertain tax positions and, accordingly it has not recognized any liability for unrecognized tax benefits.”

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IRS990/OtherLiabilitiesGrp/BOYAmt0145364
IRS990/OtherLiabilitiesGrp/EOYAmt0109599
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt083170
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0137524
IRS990/OtherSalariesAndWagesGrp/TotalAmt0220694
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08886
IRS990/PayrollTaxesGrp/ProgramServicesAmt08887
IRS990/PayrollTaxesGrp/TotalAmt017773
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt061531
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt071608
IRS990/PrincipalOfficerNm0RENE SNYDER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/BusinessCd3532000
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1TENANT ASSISTANCE
IRS990/ProgramServiceRevenueGrp/Desc2MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/Desc3COMMERCIAL RENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0770844
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1643850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt210510
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35232
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0770844
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1643850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt210510
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35232
IRS990/ProgSrvcAccomActy2Grp/Desc0DAYSPRING II IS A ONE HUNDRED EIGHT UNIT APARTMENT COMPLEX LOCATED IN CORNING, NEW YORK, ESTABLISHED TO PROVIDE DECENT, SANITARY HOUSING FOR ELDERLY HANDICAPPED OR DISABLED RESIDENTS. IT IS A FEDERALLY SUBSIDIZED SECTION 515 PROJECT WITH A RURAL RENTAL ASSISTANCE PROGRAM UNDER THE SUPERVISION OF THE RURAL ECONOMIC AND COMMUNITY DEVELOPMENT, A DIVISION OF USDA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0558847
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0644614
IRS990/ProgSrvcAccomActy3Grp/Desc0SERVICE COORDINATOR PROVIDING ASSISTANCE TO THE ELDERLY AND DISABLED RESIDENTS WITH SELECTING AND COMMUNICATING SUPPORTIVE AND MEDICAL SERVICES IN THE COMMUNITY SO THEY MAY CONTINUE LIVING INDEPENDENTLY.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt055499
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt053904
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0175085
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0800
IRS990/PYOtherExpensesAmt01004345
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01424523
IRS990/PYRevenuesLessExpensesAmt0304580
IRS990/PYSalariesCompEmpBnftPaidAmt0291483
IRS990/PYTotalExpensesAmt01295828
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01600408
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt056190
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0785822
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0133358
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0175085
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0272372
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0262969
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0282718
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01126502
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01827
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0800
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0409
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0405
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0413
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03854
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01430437
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01424523
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01393532
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01395933
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01380624
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt07025049
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01827
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0800
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0409
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0405
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0413
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03854
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal509Amt08151551
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01563795
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01599608
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01665904
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01658902
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01663342
IRS990ScheduleA/Total509Grp/TotalAmt08151551
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01565622
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01600408
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01666313
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01659307
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01663755
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08155405
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01246187
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06041870
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07288057
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0137166
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0137166
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01509432
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt091885
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt091885
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt071409
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11155672
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt038497
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0598277
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0636774
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt038190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt171409
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED CITY SERVICES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01565622
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PARKWAY ELDERLY HOUSING DEVELOPMENT FUND CO., INC. IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND APPLICABLE STATE REGULATIONS. THE COMPANY FILES FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND IN NEW YORK STATE. WITH FEW EXCEPTIONS, AS OF SEPTEMBER 30, 2017, THE CORPORATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE SEPTEMBER 30, 2014. THE TAX RETURNS FOR THE YEARS ENDED SEPTEMBER 30, 2014 THROUGH SEPTEMBER 30, 2017 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS AND THE TAXING AUTHORITIES IN NEW YORK STATE. MANAGEMENT OF THE COMPANY BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01376569
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01227081
IRS990ScheduleD/TotalExpensesPerForm990Amt01509432
IRS990ScheduleD/TotalLiabilityAmt0109599
IRS990ScheduleD/TotalRevenuePerForm990Amt01565622
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01565622
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01509432
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EDC MANAGEMENT INC. IS THE MANAGING AGENT OF THE ORGANIZATION. PURSUANT TO MANAGEMENT AGREEMENTS, THE ORGANIZATION PAYS EDC MANAGEMENT INC. A MONTHLY MANAGEMENT FEE OF A CERTAIN PERCENTAGE OF GROSS COLLECTIONS. IN ADDITION, THE ORGANZIATION PAYS EDC MANAGEMENT INC. FOR GENERAL CONTRACTING SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT A REGULARLY SCHEDULED BOARD MEETING, THE FORM 990 IS REVIEWED, WITH RESOLUTION, AND AUTHORIZES THE BOARD PRESIDENT TO SIGN AND FILE THE FROM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FULL BOARD PROVIDES OVERSIGHT OF THE AUDIT AND SELECTION OF AUDITORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT HAVE EMPLOYEES OF ITS OWN AND DOES NOT FILE ANY W-2S. SALARIES AND RELATED COSTS ARE INCLUDED IN PART IX EVEN THOUGH PART V ITEM 2A INDICATES ZERO EMPLOYEES. INDIVIDUALS WORKING WITH THE ORGANIZATION ARE PAID BY EDC MANAGEMENT INC., THE MANAGING AGENT OF THE ORGANIZATION. EDC MANAGEMENT CHARGES THE ORGANIZATION FOR THE APPLICABLE PAYROLL AND BENEFITS OF THOSE INDIVIDUALS AND THE ORGANIZATION HAS REPORTED THESE AMOUNTS IN PART IX LINES 7-10.

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,869,240
Liabilities
$1,206,638
Net assets
$1,662,602
Revenue
$1,565,622
Expenses
$1,509,432
Net income
$56,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.23$0.54$2.69$2.10$1.81$0.29
2024Detailed filing. Detailed filing data is available for this year.$3.02$0.62$2.40$1.95$1.78$0.16
2023Detailed filing. Detailed filing data is available for this year.$3.03$0.79$2.24$1.85$1.58$0.27
2022Detailed filing. Detailed filing data is available for this year.$2.82$0.85$1.97$1.77$1.60$0.17
2021Detailed filing. Detailed filing data is available for this year.$2.71$0.91$1.80$1.63$1.57$0.06
2020Detailed filing. Detailed filing data is available for this year.$2.71$0.97$1.74$1.61$1.55$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.73$1.04$1.69$1.56$1.53$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.84$1.18$1.66$1.54$1.54$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.87$1.21$1.66$1.57$1.51$0.06
2016Detailed filing. Detailed filing data is available for this year.$2.93$1.32$1.61$1.60$1.30$0.30
2015Detailed filing. Detailed filing data is available for this year.$2.69$1.39$1.30$1.67$1.44$0.23