Civic Intelligence

Parkway Housing Development Fund Company Inc.

990 • Fiscal year 2024 • EIN 27-2397268

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 13, 2025

Organization ProfileWWW.MVDC.ORG
73 West 108th StreetNew York, NY 10025

(212) 678-4410

Siviq Scores

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

Liabilities / Assets

54th percentile

0.87x

Higher debt load relative to assets than 54% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

4.37x

Higher debt load relative to revenue than 55% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Net Margin

74th percentile

5.7%

Higher net margin than 74% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$130,210

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 14.4% of source-year revenue.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Asset Growth

76th percentile

1.8%

Faster asset growth than 76% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

12%

Faster revenue growth than 73% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$4,553,856

Up $80,637 (+1.8%) from 2023

Net Assets

Up

$613,324

Up $51,773 (+9.2%) from 2023

Liabilities

Up

$3,940,532

Up $28,864 (+0.7%) from 2023

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin74th percentile

Revenue

Up

$901,673

Up $98,694 (+12%) from 2023

Expenses

Up

$849,896

Up $28,852 (+3.5%) from 2023

Net Income

Up

$51,777

Up $69,842 (+387%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$6.0M$4.0M$2.0M$0Assets 2020: $4,364,345Liabilities 2020: $3,807,552Net Assets 2020: $556,7932020Assets 2023: $4,473,219Liabilities 2023: $3,911,668Net Assets 2023: $561,5512023Assets 2024: $4,553,856Liabilities 2024: $3,940,532Net Assets 2024: $613,3242024Assets 2025: $4,704,193Liabilities 2025: $4,125,546Net Assets 2025: $578,6472025

Highlighted filing

2024

Assets$4,553,856
Liabilities$3,940,532
Net Assets$613,324
Open 2024 Filing

Operations Trend

Revenue Growth73rd percentile

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

$1.0M$500K$0-$500KRevenue 2020: $773,945Expenses 2020: $746,542Net Income 2020: $27,4032020Revenue 2023: $802,979Expenses 2023: $821,044Net Income 2023: -$18,0652023Revenue 2024: $901,673Expenses 2024: $849,896Net Income 2024: $51,7772024Revenue 2025: $929,680Expenses 2025: $964,357Net Income 2025: -$34,6772025

Highlighted filing

2024

Revenue$901,673
Expenses$849,896
Net Income$51,777
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 13, 2025
Return Version
2023v6.0
Gross Receipts
$901,673
Mission and Program Overview

Mission

To provide adequate low income housing to residents of the manhattan valley region of manhattan, new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,749,708$1,673,377▼ $76,331
Cash and Non-Interest-Bearing Accounts$67,083$179,662▲ $112,579
Accounts Receivable$55,554$113,146▲ $57,592
Prepaid Expenses and Deferred Charges$38,096$11,582▼ $26,514
Savings and Temporary Cash Investments$313,193$7,054▼ $306,139
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,473,219$4,553,856▲ $80,637
Other Assets Total$2,249,585$2,569,035▲ $319,450
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,637,207$3,637,207→ $0
Accounts Payable and Accrued Expenses$189,724$227,985▲ $38,261
Other Liabilities$81,850$72,449▼ $9,401
Deferred Revenue$2,891$2,891→ $0
Total Liabilities$3,911,672$3,940,532▲ $28,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$561,547$613,324▲ $51,777
Total Net Assets Fund Balance$561,547$613,324▲ $51,777
Total Liabilities and Net Assets / Fund Balance$4,473,219$4,553,856▲ $80,637

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,248,488$1,310,522$2,559,010
Leasehold Improvements$256,093$53,550$309,643
Land$158,342-$158,342
Equipment$10,454$72,415$82,869
Other Assets Org$65,578--
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
John P DuffellPresident
Robin P BaezVice President
Sandra B PowersTreasurer/Secy
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$828,636
Investment Income
$73,037
Other Revenue
$0
Change in Net Assets
$51,777
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$849,896
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$114,694--$114,694
Insurance$94,959--$94,959
Fees for Services Management-$63,680-$63,680
Fees for Services Other-$40,114-$40,114
Interest$37,221--$37,221
Fees for Services Legal$26,926--$26,926
Other Expenses$26,085--$26,085
Fees for Services Accounting-$18,500-$18,500
All Other Expenses$4,701$12,688-$17,389
Total Functional Expenses$714,914$134,982$0$849,896
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$66,211
Due to Affilitate$6,238
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
Yes
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization delegates control over mangement duties customarily preformed by or under the direct supervision of officers, directors, or trustees, or key employees, compensated to a management company or other person. See schedule r for list of the management company and services they provided and page 7 of form 990 for the list of officers, directors, and trustees who were compendated by the management company.”

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

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“Individuals that want to review organization documents, policies and financial statements are asked to put their request in writing. A date is scheduled for the individual to review the requested items at our office at 73 west 108th street, new york, ny 10025.”

Filing and Contact Details

Filer

Filer Name
Parkway Housing Development
EIN
27-2397268
Phone
2126784410
Address
73 WEST 108TH STREET, NEW YORK, NY 10025

Signing Officer

Name
Robin P Baez
Title
Vice President
Signed
2025-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robin P Baez
Formed
2010
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Davis Ward & Hochman LLP
Address
150 E 58th St 20TH Flr, New York, NY 10155
Preparer
David H Ward
Phone
2122302600
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The organization follows fasb asc 740, "income taxes", which orivides standards for establishing and classifying any tax provisions for uncertian tax positions. The organization is no longer subject to federal or state income tax examinations by tax authorities for years before 2016.”

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0754728
IRS990ScheduleA/Total509Grp/TotalAmt02316273
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IRS990ScheduleD/EquipmentGrp/BookValueAmt010454
IRS990ScheduleD/EquipmentGrp/DepreciationAmt072415
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt053550
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0309643
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0536675
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1395487
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt265578
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06238
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt166211
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILITATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS FASB ASC 740, "INCOME TAXES", WHICH ORIVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTIAN TAX POSITIONS. THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt02569035
IRS990ScheduleD/TotalLiabilityAmt072449
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0126495
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt03715
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROBIN P BAEZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Vice President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0130210
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES CONTROL OVER MANGEMENT DUTIES CUSTOMARILY PREFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS, DIRECTORS, OR TRUSTEES, OR KEY EMPLOYEES, COMPENSATED TO A MANAGEMENT COMPANY OR OTHER PERSON. SEE SCHEDULE R FOR LIST OF THE MANAGEMENT COMPANY AND SERVICES THEY PROVIDED AND PAGE 7 OF FORM 990 FOR THE LIST OF OFFICERS, DIRECTORS, AND TRUSTEES WHO WERE COMPENDATED BY THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDIVIDUALS THAT WANT TO REVIEW ORGANIZATION DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE ASKED TO PUT THEIR REQUEST IN WRITING. A DATE IS SCHEDULED FOR THE INDIVIDUAL TO REVIEW THE REQUESTED ITEMS AT OUR OFFICE AT 73 WEST 108TH STREET, NEW YORK, NY 10025.
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
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0MANHATTAN VALLEY DEV
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0133104087
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING MANAGEMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MANHATTAN VALLEY MANAGEMENT COMPANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt073 WEST 108TH STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MANHATTAN VALLEY DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0132628511
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0168188
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0HOURLY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MANHATTAN VALLEY MANAGEMENT COMPANY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0m
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0714914

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,553,856
Liabilities
$3,940,532
Net assets
$613,324
Revenue
$901,673
Expenses
$849,896
Net income
$51,777
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.70$4.13$0.58$0.93$0.96$0.03
2024Detailed filing. Detailed filing data is available for this year.$4.55$3.94$0.61$0.90$0.85$0.05
2023Detailed filing. Detailed filing data is available for this year.$4.47$3.91$0.56$0.80$0.82$0.02
2020Detailed filing. Detailed filing data is available for this year.$4.36$3.81$0.56$0.77$0.75$0.03