Civic Intelligence

Henry Phipps Plaza South Housing Development Fund Corporation

990 • Fiscal year 2014 • EIN 23-7389743

Apr 01, 2013 to Mar 31, 2014 • Filed on Feb 12, 2015

902 Broadway 13th FloorSuite10010-6033

(212) 243-9090

Siviq Scores

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

Liabilities / Assets

66th percentile

0.94x

Higher debt load relative to assets than 66% of similar nonprofits.

2014 filings • NTEE L • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

98th percentile

180.27x

Higher debt load relative to revenue than 98% of similar nonprofits.

2014 filings • NTEE L • $10M-$25M nonprofits • Source year 2014

Net Margin

22nd percentile

-23%

Higher net margin than 22% of similar nonprofits.

2014 filings • NTEE L • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

94th percentile

$735,631

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 924.3% of source-year revenue.

2014 filings • NTEE L • $10M-$25M nonprofits • Source year 2014

Asset Growth

52nd percentile

0.8%

Faster asset growth than 52% of similar nonprofits.

2014 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$15,324,263

Up $118,990 (+0.8%) from 2013

Net Assets

Down

$977,133

Down $16,555 (-1.7%) from 2013

Liabilities

Up

$14,347,130

Up $135,545 (+1.0%) from 2013

Revenue

$79,588

No earlier filing loaded for comparison.

Expenses

Up

$97,751

Up $3,294 (+3.5%) from 2013

Net Income

-$18,163

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2012: $14,292,312Liabilities 2012: $13,303,521Net Assets 2012: $988,7912012Assets 2013: $15,205,273Liabilities 2013: $14,211,585Net Assets 2013: $993,6882013Assets 2014: $15,324,263Liabilities 2014: $14,347,130Net Assets 2014: $977,1332014Assets 2015: $14,066,212Liabilities 2015: $14,594,836Net Assets 2015: -$528,6242015Assets 2016: $13,660,626Liabilities 2016: $13,627,613Net Assets 2016: $33,0132016Assets 2017: $14,635,235Liabilities 2017: $14,604,038Net Assets 2017: $31,1972017Assets 2018: $15,331,506Liabilities 2018: $15,300,402Net Assets 2018: $31,1042018Assets 2019: $12,737,010Liabilities 2019: $12,714,059Net Assets 2019: $22,9512019Assets 2020: $6,710,546Liabilities 2020: $6,689,136Net Assets 2020: $21,4102020Assets 2021: $7,195,891Liabilities 2021: $7,176,521Net Assets 2021: $19,3702021Assets 2024: $54,484,566Liabilities 2024: $54,468,675Net Assets 2024: $15,8912024Assets 2025: $53,791,808Liabilities 2025: $54,470,775Net Assets 2025: -$678,9672025

Highlighted filing

2014

Assets$15,324,263
Liabilities$14,347,130
Net Assets$977,133

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2012: $90,3772012Expenses 2013: $94,4572013Revenue 2014: $79,588Expenses 2014: $97,751Net Income 2014: -$18,1632014Revenue 2015: $9,006Expenses 2015: $1,837,814Net Income 2015: -$1,828,8082015Revenue 2016: $0Expenses 2016: $1,366,400Net Income 2016: -$1,366,4002016Revenue 2017: $0Expenses 2017: $1,816Net Income 2017: -$1,8162017Revenue 2018: $175,909Expenses 2018: $176,002Net Income 2018: -$932018Revenue 2019: $3,485,000Expenses 2019: $3,493,153Net Income 2019: -$8,1532019Revenue 2020: $6,443,346Expenses 2020: $6,444,887Net Income 2020: -$1,5412020Revenue 2021: $0Expenses 2021: $2,040Net Income 2021: -$2,0402021Revenue 2024: $7,895,748Expenses 2024: $7,898,869Net Income 2024: -$3,1212024Revenue 2025: $17,066,868Expenses 2025: $17,761,725Net Income 2025: -$694,8572025

Highlighted filing

2014

Revenue$79,588
Expenses$97,751
Net Income-$18,163
Jump To
Filing Snapshot
Filing Period
Apr 1, 2013 to Mar 31, 2014
Signed
Feb 12, 2015
Return Version
2013v4.0
Gross Receipts
$79,588
Mission and Program Overview

Mission

To provide affordable housing to low and moderate income families in new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$9,206,291$8,447,188▼ $759,103
Land, Buildings, and Equipment, Net$1,041,038$1,074,003▲ $32,965
Cash and Non-Interest-Bearing Accounts$23,270$36,279▲ $13,009
Prepaid Expenses and Deferred Charges$23,864$24,110▲ $246
Accounts Receivable$0$5,768▲ $5,768
Savings and Temporary Cash Investments$0$0→ $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
Total Assets$15,205,273$15,324,263▲ $118,990
Other Assets Total$4,910,810$5,736,915▲ $826,105
Liabilities
Deferred Revenue$12,811,087$13,732,419▲ $921,332
Other Liabilities$1,317,838$533,659▼ $784,179
Accounts Payable and Accrued Expenses$82,660$81,052▼ $1,608
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$14,211,585$14,347,130▲ $135,545
Net Assets / Fund Balance
Unrestricted Net Assets$993,688$977,133▼ $16,555
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$993,688$977,133▼ $16,555
Total Liabilities and Net Assets / Fund Balance$15,205,273$15,324,263▲ $118,990

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,037,003$0$1,037,003
Land$37,000-$37,000
Other Assets Org$5,736,915--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Adam WeinsteinPresident/CEO
Matthew KellyVice President
Michael WadmanVice President
James Robert Pigott JrVice President and Secretary
Brian BrickerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$68,880
Investment Income
$10,708
Other Revenue
$0
Change in Net Assets
$-18,163
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$97,751
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$1,700-$1,700
Other Expenses$95,867$184-$184
Total Functional Expenses$95,867$1,884$0$97,751
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
501(c)(4) Organization)$533,659
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6:

The sole member of the organization is phipps houses.

FORM 990, PART VI, SECTION A, LINE 7A:

As the sole member of the organization, phipps houses has the right to elect the members of the organization's board of directors.

FORM 990, PART VI, SECTION A, LINE 7B:

Under new york state law, certain governance decisions require membership approval.

FORM 990, PART VI, SECTION B, LINE 11B:

Members of the organization's governing body review the form 990 for accuracy of content and discuss as necessary.

FORM 990, PART VI, SECTION B, LINE 12C:

Officers and directors must complete and certify annually a list of conflicts of interest.

FORM 990, PART VI, SECTION B, LINES 15A AND 15B:

The organization does not compensate any officers or key employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

FORM 990, PART VII, SECTION A:

The compensation of the president and ceo (paid by phipps houses) reflects his contributions to all affiliated entities. On a consolidated basis, in 2012, the phipps houses group had revenue of $137 million and assets of $942 million.

Filing and Contact Details

Filer

EIN
23-7389743
In Care Of
% BRIAN BRICKER
Phone
2122439090

Signing Officer

Name
Brian Bricker
Title
Treasurer
Phone
2122439090
Signed
2015-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Weinstein
Formed
1973
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Preparer
Paul Hammerschmidt
Phone
2122439090
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IRS990ScheduleA/InvestmentIncomeCYPct00.18700
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt037000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05736915
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01037003
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01037003
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0533659
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0501(C)(4) ORGANIZATION)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01074003
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05736915
IRS990ScheduleD/TotalLiabilityAmt0533659
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt135000
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1205927
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4149795
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt036746
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt134718
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt230897
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt334591
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt426917
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt030858
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt125621
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt226782
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt321892
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt424162
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt30

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$53.8$54.5$0.68$17.1$17.8$0.69
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$54.5$54.5$0.02$7.90$7.90$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.20$7.18$0.02$0.00$0.00$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.71$6.69$0.02$6.44$6.44$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.7$12.7$0.02$3.49$3.49$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$15.3$0.03$0.18$0.18$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$14.6$0.03$0.00$0.00$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.7$13.6$0.03$0.00$1.37$1.37
2015Detailed filing. Detailed filing data is available for this year.$14.1$14.6$0.53$0.01$1.84$1.83
2014Detailed filing. Detailed filing data is available for this year.$15.3$14.3$0.98$0.08$0.10$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$14.2$0.99$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$13.3$0.99$0.09