Civic Intelligence

Circulo Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 26-1501209

Jun 01, 2022 to May 31, 2023 • Filed on Apr 04, 2024

Organization ProfileN/A
26 West Park Ave BLong Beach, NY 11561

(516) 431-1135

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$2,205,839

Down $12,867 (-0.6%) from 2022

Net Assets

Down

$1,454,451

Down $9,884 (-0.7%) from 2022

Liabilities

Down

$751,388

Down $2,983 (-0.4%) from 2022

Revenue And Expenses

Revenue

Up

$143,993

Up $2,244 (+1.6%) from 2022

Expenses

Up

$153,877

Up $42,350 (+38%) from 2022

Net Income

Down

-$9,884

Down $40,106 (-133%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2016: $1,376,642Liabilities 2016: $250,000Net Assets 2016: $1,126,6422016Assets 2017: $1,445,722Liabilities 2017: $250,000Net Assets 2017: $1,195,7222017Assets 2018: $1,588,598Liabilities 2018: $250,000Net Assets 2018: $1,338,5982018Assets 2019: $1,640,976Liabilities 2019: $250,000Net Assets 2019: $1,390,9762019Assets 2020: $1,651,664Liabilities 2020: $250,000Net Assets 2020: $1,401,6642020Assets 2021: $2,184,731Liabilities 2021: $750,618Net Assets 2021: $1,434,1132021Assets 2022: $2,218,706Liabilities 2022: $754,371Net Assets 2022: $1,464,3352022Assets 2023: $2,205,839Liabilities 2023: $751,388Net Assets 2023: $1,454,4512023Assets 2024: $2,203,506Liabilities 2024: $739,041Net Assets 2024: $1,464,4652024

Highlighted filing

2023

Assets$2,205,839
Liabilities$751,388
Net Assets$1,454,451
Open 2023 Filing

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2016: $844,402Expenses 2016: $43,294Net Income 2016: $801,1082016Revenue 2017: $115,487Expenses 2017: $46,407Net Income 2017: $69,0802017Revenue 2018: $202,471Expenses 2018: $59,595Net Income 2018: $142,8762018Revenue 2019: $113,721Expenses 2019: $61,343Net Income 2019: $52,3782019Revenue 2020: $123,641Expenses 2020: $112,953Net Income 2020: $10,6882020Revenue 2021: $141,476Expenses 2021: $109,027Net Income 2021: $32,4492021Revenue 2022: $141,749Expenses 2022: $111,527Net Income 2022: $30,2222022Revenue 2023: $143,993Expenses 2023: $153,877Net Income 2023: -$9,8842023Revenue 2024: $144,601Expenses 2024: $134,587Net Income 2024: $10,0142024

Highlighted filing

2023

Revenue$143,993
Expenses$153,877
Net Income-$9,884
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Apr 4, 2024
Return Version
2022v5.0
Gross Receipts
$143,993
Mission and Program Overview

Mission

The mission of circulo housing development fund corporation ("hdfc") is to develop and operate housing for underserved individuals and families helping them improve their lives through housing stability.

Develop & operate housing for underserved individuals & families helping them improve their lives through housing stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,158,856$1,181,216▲ $22,360
Cash and Non-Interest-Bearing Accounts$208,525$152,631▼ $55,894
Accounts Receivable-$5,211-
Total Assets$2,218,706$2,205,839▼ $12,867
Other Assets Total$851,325$866,781▲ $15,456
Liabilities
Mortgage Notes Payable Secured by Investment Property$750,000$750,000→ $0
Accounts Payable and Accrued Expenses$4,371$1,388▼ $2,983
Total Liabilities$754,371$751,388▼ $2,983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,464,335$1,454,451▼ $9,884
Total Net Assets Fund Balance$1,464,335$1,454,451▼ $9,884
Total Liabilities and Net Assets / Fund Balance$2,218,706$2,205,839▼ $12,867

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,181,216$1,086,249$2,267,465
Other Assets Org$131,100--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Leo FernandezPresident
Amy FloresBoard Member
Silvana LoyolaBoard Member
Evelyn BibilashviliSecretary
Hector MartinezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$142,554
Investment Income
$0
Other Revenue
$1,439
Change in Net Assets
$-9,884
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$153,877
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
Depreciation Depletion$67,781--$67,781
Occupancy$28,317--$28,317
Insurance$17,096--$17,096
Other Expenses$14,513--$14,513
Fees for Services Legal$2,357--$2,357
Fees for Services Accounting$1,993--$1,993
Conferences and Meetings$1,032--$1,032
Travel$712--$712
Total Functional Expenses$153,877$0$0$153,877
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Circulo housing development fund corporation ("hdfc") was established as a membership organization. Circulo de la hispanidad, inc. ("circulo") is the sole member.”

Form 990, Part VI, Section A, Line 7A

“Circulo, the sole member, shall elect the directors of hdfc and reserves the power to remove the directors at any time with or without cause.”

Form 990, Part VI, Section A, Line 7B

“The power to amend the certificate of incorporation is reserved to circulo.”

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

“Hdfc has the form 990 reviewed by an outside cpa prior to submission to the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“Members self-disclose if there is a conflict of interest. This is monitored by self-disclosure where any votes are taken.”

Form 990, Part VI, Section C, Line 19

“Hdfc makes its governing documents, conflict of interest policy, or financial statements available to the public upon request to the executive director.”

Filing and Contact Details

Filer

Filer Name
Circulo Housing Development Fund
EIN
26-1501209
Phone
5164311135
Address
26 WEST PARK AVE B, LONG BEACH, NY 11561

Signing Officer

Name
Hector Martinez
Title
Treasurer
Phone
5164311135
Signed
2024-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hector Martinez
Formed
2008
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CIRCULO HOUSING DEVELOPMENT FUND CORPORATION ("HDFC") WAS ESTABLISHED AS A MEMBERSHIP ORGANIZATION. CIRCULO DE LA HISPANIDAD, INC. ("CIRCULO") IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CIRCULO, THE SOLE MEMBER, SHALL ELECT THE DIRECTORS OF HDFC AND RESERVES THE POWER TO REMOVE THE DIRECTORS AT ANY TIME WITH OR WITHOUT CAUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE POWER TO AMEND THE CERTIFICATE OF INCORPORATION IS RESERVED TO CIRCULO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HDFC HAS THE FORM 990 REVIEWED BY AN OUTSIDE CPA PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEMBERS SELF-DISCLOSE IF THERE IS A CONFLICT OF INTEREST. THIS IS MONITORED BY SELF-DISCLOSURE WHERE ANY VOTES ARE TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5HDFC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE EXECUTIVE DIRECTOR.
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133628255
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerPersonGrp/PhoneNum02126617777
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEXANDER LAZZARUOLO
ReturnHeader/ReturnTs02024-04-15T11:31:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0HECTOR
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ReturnHeader/TaxPeriodBeginDt02022-06-01
ReturnHeader/TaxPeriodEndDt02023-05-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$2,205,839
Liabilities
$751,388
Net assets
$1,454,451
Revenue
$143,993
Expenses
$153,877
Net income
-$9,884
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.20$0.74$1.46$0.14$0.13$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.21$0.75$1.45$0.14$0.15$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.22$0.75$1.46$0.14$0.11$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.18$0.75$1.43$0.14$0.11$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.65$0.25$1.40$0.12$0.11$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.64$0.25$1.39$0.11$0.06$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.59$0.25$1.34$0.20$0.06$0.14
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.25$1.20$0.12$0.05$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.38$0.25$1.13$0.84$0.04$0.80