Civic Intelligence

Park Side 104 Housing Development Fund Company Inc.

990 • Fiscal year 2024 • EIN 27-2844696

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

96th percentile

1.38x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

95th percentile

6.28x

Higher debt load relative to revenue than 95% of similar nonprofits.

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

Net Margin

12th percentile

-29%

Higher net margin than 12% of similar nonprofits.

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

Top Officer Pay

57th percentile

$130,210

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 29.1% of source-year revenue.

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

Asset Growth

23rd percentile

-4.7%

Faster asset growth than 23% of similar nonprofits.

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

Revenue Growth

44th percentile

4.0%

Faster revenue growth than 44% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$2,028,236

Down $99,103 (-4.7%) from 2023

Net Assets

Down

-$780,171

Down $128,763 (-20%) from 2023

Liabilities

Up

$2,808,407

Up $29,660 (+1.1%) from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin12th percentile

Revenue

Up

$447,276

Up $17,077 (+4.0%) from 2023

Expenses

Up

$576,039

Up $32,374 (+6.0%) from 2023

Net Income

Down

-$128,763

Down $15,297 (-13%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2020: $2,165,362Liabilities 2020: $2,571,491Net Assets 2020: -$406,1292020Assets 2023: $2,127,339Liabilities 2023: $2,778,747Net Assets 2023: -$651,4082023Assets 2024: $2,028,236Liabilities 2024: $2,808,407Net Assets 2024: -$780,1712024Assets 2025: $2,074,062Liabilities 2025: $2,975,907Net Assets 2025: -$901,8452025

Highlighted filing

2024

Assets$2,028,236
Liabilities$2,808,407
Net Assets-$780,171
Open 2024 Filing

Operations Trend

Revenue Growth44th percentile

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

$600K$400K$200K$0-$200KRevenue 2020: $410,244Expenses 2020: $453,565Net Income 2020: -$43,3212020Revenue 2023: $430,199Expenses 2023: $543,665Net Income 2023: -$113,4662023Revenue 2024: $447,276Expenses 2024: $576,039Net Income 2024: -$128,7632024Revenue 2025: $453,120Expenses 2025: $574,794Net Income 2025: -$121,6742025

Highlighted filing

2024

Revenue$447,276
Expenses$576,039
Net Income-$128,763
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
$447,276
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$1,460,023$1,380,949▼ $79,074
Accounts Receivable$76,089$54,389▼ $21,700
Cash and Non-Interest-Bearing Accounts$36,366$49,234▲ $12,868
Prepaid Expenses and Deferred Charges$32,081$10,764▼ $21,317
Savings and Temporary Cash Investments$690$690→ $0
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$2,127,339$2,028,236▼ $99,103
Other Assets Total$522,090$532,210▲ $10,120
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,471,242$2,471,242→ $0
Other Liabilities$235,982$284,727▲ $48,745
Accounts Payable and Accrued Expenses$64,209$44,829▼ $19,380
Deferred Revenue$7,314$7,609▲ $295
Total Liabilities$2,778,747$2,808,407▲ $29,660
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-651,408$-780,171▼ $128,763
Total Net Assets Fund Balance$-651,408$-780,171▼ $128,763
Total Liabilities and Net Assets / Fund Balance$2,127,339$2,028,236▼ $99,103

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$682,658$707,946$1,390,604
Leasehold Improvements$611,779$334,746$946,525
Land$70,982-$70,982
Equipment$15,530$30,213$45,743
Other Assets Org$33,312--
Compensation and Service Providers
Top Officer Pay57th 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
$432,657
Investment Income
$14,619
Other Revenue
$0
Change in Net Assets
$-128,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$576,039
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$88,113--$88,113
Insurance$50,837--$50,837
All Other Expenses$31,360$9,279-$40,639
Fees for Services Management-$34,842-$34,842
Fees for Services Legal$20,465--$20,465
Other Expenses$19,699--$19,699
Fees for Services Accounting-$10,000-$10,000
Fees for Services Other-$480-$480
Total Functional Expenses$521,438$54,601$0$576,039
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
Due to Related -party$250,436
Tenant Security Deposit$34,291
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 management duties customarilyperformed by or under the direct supervision of officers directors, ortrustees, or key employees to a management company or other person.”

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

“The return is reviewed in detail by management and provided to the fullboard of directors for review.”

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

“We have distributed documents, whereby officers, directors and keyemployees will be requested to notify the organization of any interest thatcould give rise to conflict, and each member is asked to confirm at eachscheduled meeting.”

Form 990, Part VI, Section C, Line 19

“Individuals that want to review organization documents, policies andfinancial statements are asked to put their request in writing. A date isscheduled for the individual to review the requested items at our office at73 west 108th street, new york, ny, 10025.”

Filing and Contact Details

Filer

Filer Name
Park Side 104 Housing Development Fund
EIN
27-2844696
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

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/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0381533
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0410244
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01239053
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0682658
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0707946
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01390604
IRS990ScheduleD/EquipmentGrp/BookValueAmt015530
IRS990ScheduleD/EquipmentGrp/DepreciationAmt030213
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt045743
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt070982
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt070982
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0611779
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0334746
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0946525
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0253376
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2230522
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt333312
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0250436
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt134291
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED -PARTY
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
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01380949
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0532210
IRS990ScheduleD/TotalLiabilityAmt0284727
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
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 MANAGEMENT DUTIES CUSTOMARILYPERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS DIRECTORS, ORTRUSTEES, OR KEY EMPLOYEES TO A MANAGEMENT COMPANY OR OTHER PERSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED IN DETAIL BY MANAGEMENT AND PROVIDED TO THE FULLBOARD OF DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WE HAVE DISTRIBUTED DOCUMENTS, WHEREBY OFFICERS, DIRECTORS AND KEYEMPLOYEES WILL BE REQUESTED TO NOTIFY THE ORGANIZATION OF ANY INTEREST THATCOULD GIVE RISE TO CONFLICT, AND EACH MEMBER IS ASKED TO CONFIRM AT EACHSCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDIVIDUALS THAT WANT TO REVIEW ORGANIZATION DOCUMENTS, POLICIES ANDFINANCIAL STATEMENTS ARE ASKED TO PUT THEIR REQUEST IN WRITING. A DATE ISSCHEDULED FOR THE INDIVIDUAL TO REVIEW THE REQUESTED ITEMS AT OUR OFFICE AT73 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 B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
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
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd010025
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MANHATTAN VALLEY DEVELOPMENT CORPORATON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0132628511
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMMUNITY DEVELOPMENT AND SERVICES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt073 WEST 108TH ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0100253222
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0148146
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0HOURLY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MANHATTAN VALLEY MANAGEMENT COMPANY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0m
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02127339
IRS990/TotalAssetsEOYAmt02028236
IRS990/TotalAssetsGrp/BOYAmt02127339
IRS990/TotalAssetsGrp/EOYAmt02028236
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054601

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,028,236
Liabilities
$2,808,407
Net assets
-$780,171
Revenue
$447,276
Expenses
$576,039
Net income
-$128,763
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$2.98$0.90$0.45$0.57$0.12
2024Detailed filing. Detailed filing data is available for this year.$2.03$2.81$0.78$0.45$0.58$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.13$2.78$0.65$0.43$0.54$0.11
2020Detailed filing. Detailed filing data is available for this year.$2.17$2.57$0.41$0.41$0.45$0.04