Civic Intelligence

Parkway Elderly Housing Development Fund Co Inc.

990 • Fiscal year 2023 • EIN 23-7314767

Oct 01, 2022 to Sep 30, 2023 • Filed on Feb 12, 2024

Organization ProfileN/A
101 Columbia StreetCorning, NY 14830

(607) 937-5361

Siviq Scores

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

Liabilities / Assets

41st percentile

0.26x

Higher debt load relative to assets than 41% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

36th percentile

0.43x

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

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Net Margin

78th percentile

15%

Higher net margin than 78% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Asset Growth

80th percentile

7.4%

Faster asset growth than 80% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

52nd percentile

4.4%

Faster revenue growth than 52% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$3,028,112

Up $209,675 (+7.4%) from 2022

Net Assets

Up

$2,238,786

Up $270,048 (+14%) from 2022

Liabilities

Down

$789,326

Down $60,373 (-7.1%) from 2022

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin78th percentile

Revenue

Up

$1,849,611

Up $77,368 (+4.4%) from 2022

Expenses

Down

$1,579,563

Down $21,133 (-1.3%) from 2022

Net Income

Up

$270,048

Up $98,501 (+57%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

2023

Assets$3,028,112
Liabilities$789,326
Net Assets$2,238,786
Open 2023 Filing

Operations Trend

Revenue Growth52nd percentile

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

2023

Revenue$1,849,611
Expenses$1,579,563
Net Income$270,048
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Feb 12, 2024
Return Version
2022v5.0
Gross Receipts
$1,849,611
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$1,126,154$1,113,349▼ $12,805
Cash and Non-Interest-Bearing Accounts$382,812$542,831▲ $160,019
Prepaid Expenses and Deferred Charges$82,042$82,772▲ $730
Accounts Receivable$46,530$19,676▼ $26,854
Total Assets$2,818,437$3,028,112▲ $209,675
Other Assets Total$1,180,899$1,269,484▲ $88,585
Liabilities
Mortgage Notes Payable Secured by Investment Property$590,945$506,408▼ $84,537
Other Liabilities$176,805$180,360▲ $3,555
Accounts Payable and Accrued Expenses$72,092$83,932▲ $11,840
Deferred Revenue$9,857$18,626▲ $8,769
Total Liabilities$849,699$789,326▼ $60,373
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,968,738$2,238,786▲ $270,048
Total Net Assets Fund Balance$1,968,738$2,238,786▲ $270,048
Total Liabilities and Net Assets / Fund Balance$2,818,437$3,028,112▲ $209,675

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,008,493$7,102,430$8,110,923
Other Land Buildings$7,938$628,836$636,774
Equipment$5,033$130,770$135,803
Land$91,885-$91,885
Other Assets Org$1,193,140--
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Frederick MaloneyPresident
Christopher DessoVice President
Barry NicholsonDirector
Christina LoseyDirector
Joann CaylyleDirector
Stephen CastnersDirector
Tracey YorioDirector
Blake ManuelSecretary
Robert AvvampatoTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Edc Management INCManagement Fee101 COLUMBIA STREET, Corning, NY 14830$139,473
Revenue and Support

Revenue Composition

Contributions and Grants
$101,517
Program Service Revenue
$1,742,748
Investment Income
$5,346
Other Revenue
$0
Change in Net Assets
$270,048

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,849,611
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,849,611
Total Revenue per Form 990
$1,849,611
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,269,698
Salaries, Compensation, and Employee Benefits$309,865
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$619,768--$619,768
Other Salaries and Wages$247,357--$247,357
Fees for Services Management$125,526$13,947-$139,473
Depreciation Depletion$136,503--$136,503
Fees for Services Other$57,423$500-$57,923
Other Employee Benefits$40,822--$40,822
Office Expenses-$27,392-$27,392
Payroll Taxes$21,686--$21,686
Fees for Services Accounting-$15,475-$15,475
Other Expenses$262,501$4,543-$4,543
Fees for Services Legal-$3,831-$3,831
Advertising-$2,289-$2,289
Total Functional Expenses$1,511,586$67,977$0$1,579,563

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,579,563
Total Expenses per Audited Statements$1,579,563
Total Expenses per Form 990$1,579,563
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
Accrued City Services$104,016
Tenant Security Deposits$76,344
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
EIN
23-7314767
Phone
6079375361
Address
101 COLUMBIA STREET, CORNING, NY 14830

Signing Officer

Name
Frederick Maloney
Title
President
Phone
6079375361
Signed
2024-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frederick Maloney
Formed
1973
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

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, 2023, the corporation is no longer subject to u.s. Federal or state income tax examinations by tax authorities for years before september 30, 2020. The tax returns for the years ended september 30, 2020 through september 30, 2023 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/OtherExpensesGrp/ManagementAndGeneralAmt04543
IRS990/OtherExpensesGrp/ProgramServicesAmt0262501
IRS990/OtherExpensesGrp/TotalAmt0262501
IRS990/OtherExpensesGrp/TotalAmt14543
IRS990/OtherLiabilitiesGrp/BOYAmt0176805
IRS990/OtherLiabilitiesGrp/EOYAmt0180360
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0247357
IRS990/OtherSalariesAndWagesGrp/TotalAmt0247357
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt021686
IRS990/PayrollTaxesGrp/TotalAmt021686
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt082042
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt082772
IRS990/PrincipalOfficerNm0FREDERICK MALONEY
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/RelatedOrExemptFuncIncomeAmt0860380
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1814653
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt262315
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0860380
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1814653
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt262315
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35400
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/ExpenseAmt0640443
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0849398
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/ExpenseAmt057423
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0100417
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02979
IRS990/PYOtherExpensesAmt01298261
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01668847
IRS990/PYRevenuesLessExpensesAmt0171547
IRS990/PYSalariesCompEmpBnftPaidAmt0302435
IRS990/PYTotalExpensesAmt01600696
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01772243
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0270048
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0893350
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0101517
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0100417
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0110094
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0111230
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0118247
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0541505
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt05346
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02979
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03373
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt06523
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt08446
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt026667
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01742748
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01668847
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01515141
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01487317
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01437480
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt07851533
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt05346
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02979
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03373
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt06523
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt08446
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt026667
IRS990ScheduleA/InvestmentIncomeCYPct00.00320
IRS990ScheduleA/InvestmentIncomePYPct00.00320
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99680
IRS990ScheduleA/PublicSupportPY509Pct00.99680
IRS990ScheduleA/PublicSupportTotal509Amt08393038
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01844265
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01769264
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01625235
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01598547
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01555727
IRS990ScheduleA/Total509Grp/TotalAmt08393038
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01849611
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01772243
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01628608
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01605070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01564173
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08419705
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/BookValueAmt01008493
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07102430
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08110923
IRS990ScheduleD/EquipmentGrp/BookValueAmt05033
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0130770
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0135803
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01579563
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt091885
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt091885
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt076344
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11193140
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt07938
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0628836
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0636774
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0104016
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt176344
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED CITY SERVICES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01849611
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, 2023, THE CORPORATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE SEPTEMBER 30, 2020. THE TAX RETURNS FOR THE YEARS ENDED SEPTEMBER 30, 2020 THROUGH SEPTEMBER 30, 2023 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/TotalBookValueLandBuildingsAmt01113349
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01269484
IRS990ScheduleD/TotalExpensesPerForm990Amt01579563
IRS990ScheduleD/TotalLiabilityAmt0180360
IRS990ScheduleD/TotalRevenuePerForm990Amt01849611
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01849611
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01579563
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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART V, LINE 2A AND PART VI, SECTION B, LINE 15:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02818437
IRS990/TotalAssetsEOYAmt03028112
IRS990/TotalAssetsGrp/BOYAmt02818437
IRS990/TotalAssetsGrp/EOYAmt03028112
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0101517

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,028,112
Liabilities
$789,326
Net assets
$2,238,786
Revenue
$1,849,611
Expenses
$1,579,563
Net income
$270,048
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