Civic Intelligence

Oh 161St Street Housing Development Fund Corporation

990 • Fiscal year 2016 • EIN 27-4062370

Jul 01, 2015 to Jun 30, 2016 • Filed on May 04, 2017

120 Wall Street 17th FloorNew York, NY 10005

(212) 361-1625

Siviq Scores

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

Liabilities / Assets

56th percentile

0.81x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • NTEE L • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

78th percentile

9.40x

Higher debt load relative to revenue than 78% of similar nonprofits.

2016 filings • NTEE L • $10M-$25M nonprofits • Source year 2016

Net Margin

89th percentile

66%

Higher net margin than 89% of similar nonprofits.

2016 filings • NTEE L • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

85th percentile

$467,558

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 42.9% of source-year revenue.

2016 filings • NTEE L • $10M-$25M nonprofits • Source year 2016

Asset Growth

65th percentile

3.1%

Faster asset growth than 65% of similar nonprofits.

2016 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

45th percentile

0.0%

Faster revenue growth than 45% of similar nonprofits.

2016 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$12,680,214

Up $381,371 (+3.1%) from 2015

Net Assets

Up

$2,425,873

Up $714,989 (+42%) from 2015

Liabilities

Down

$10,254,341

Down $333,618 (-3.2%) from 2015

Revenue

Up

$1,090,467

Up $491 (+0.0%) from 2015

Expenses

Down

$375,478

Down $11,676 (-3.0%) from 2015

Net Income

Up

$714,989

Up $12,167 (+1.7%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2012: $0Liabilities 2012: $0Net Assets 2012: $02012Assets 2013: $11,537,047Liabilities 2013: $11,220,573Net Assets 2013: $316,4742013Assets 2014: $11,917,961Liabilities 2014: $10,909,899Net Assets 2014: $1,008,0622014Assets 2015: $12,298,843Liabilities 2015: $10,587,959Net Assets 2015: $1,710,8842015Assets 2016: $12,680,214Liabilities 2016: $10,254,341Net Assets 2016: $2,425,8732016Assets 2017: $13,060,499Liabilities 2017: $9,908,626Net Assets 2017: $3,151,8732017Assets 2018: $13,441,270Liabilities 2018: $9,550,372Net Assets 2018: $3,890,8982018Assets 2019: $13,822,003Liabilities 2019: $9,179,125Net Assets 2019: $4,642,8782019Assets 2020: $14,203,223Liabilities 2020: $8,794,415Net Assets 2020: $5,408,8082020Assets 2021: $14,583,348Liabilities 2021: $8,395,751Net Assets 2021: $6,187,5972021Assets 2022: $14,963,956Liabilities 2022: $7,982,630Net Assets 2022: $6,981,3262022Assets 2023: $15,344,520Liabilities 2023: $7,554,526Net Assets 2023: $7,789,9942023Assets 2024: $15,725,561Liabilities 2024: $7,110,896Net Assets 2024: $8,614,6652024

Highlighted filing

2016

Assets$12,680,214
Liabilities$10,254,341
Net Assets$2,425,873

Operations Trend

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

$1.5M$1.0M$500K$0Expenses 2012: $02012Expenses 2013: $217,1202013Revenue 2014: $1,090,009Expenses 2014: $398,421Net Income 2014: $691,5882014Revenue 2015: $1,089,976Expenses 2015: $387,154Net Income 2015: $702,8222015Revenue 2016: $1,090,467Expenses 2016: $375,478Net Income 2016: $714,9892016Revenue 2017: $1,089,379Expenses 2017: $363,379Net Income 2017: $726,0002017Revenue 2018: $1,089,867Expenses 2018: $350,841Net Income 2018: $739,0262018Revenue 2019: $1,089,828Expenses 2019: $337,848Net Income 2019: $751,9802019Revenue 2020: $1,090,314Expenses 2020: $324,384Net Income 2020: $765,9302020Revenue 2021: $1,089,221Expenses 2021: $310,432Net Income 2021: $778,7892021Revenue 2022: $1,089,703Expenses 2022: $295,974Net Income 2022: $793,7292022Revenue 2023: $1,089,659Expenses 2023: $280,991Net Income 2023: $808,6682023Revenue 2024: $1,090,138Expenses 2024: $265,465Net Income 2024: $824,6732024

Highlighted filing

2016

Revenue$1,090,467
Expenses$375,478
Net Income$714,989
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 4, 2017
Return Version
2015v3.0
Gross Receipts
$1,090,467
Mission and Program Overview

Mission

REAL ESTATE DEVELOPMENT

Assist in development and construction of low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$11,230,647$11,230,647→ $0
Rtn Earn Endowment Incm Other Fnds$1,710,884$2,425,873▲ $714,989
Cash and Non-Interest-Bearing Accounts-$1-
Total Assets$12,298,843$12,680,214▲ $381,371
Other Assets Total$1,068,196$1,449,566▲ $381,370
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,556,339$10,223,718▼ $332,621
Other Liabilities$31,620$30,623▼ $997
Total Liabilities$10,587,959$10,254,341▼ $333,618
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,710,884$2,425,873▲ $714,989
Total Liabilities and Net Assets / Fund Balance$12,298,843$12,680,214▲ $381,371

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$137,824--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Peter ProvetPresident
John TavolacciSecretary
Durga VallabhaneniTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$708,099
Program Service Revenue
$0
Investment Income
$382,368
Other Revenue
$0
Change in Net Assets
$714,989

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,090,467
Total Revenue per Audited Statements
$1,090,467
Total Revenue per Form 990
$1,090,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$375,478
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
Interest$375,478--$375,478
Total Functional Expenses$375,478$0$0$375,478

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$375,478
Total Expenses per Audited Statements$375,478
Total Expenses per Form 990$375,478
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$30,623
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The completed 990 is reviewed by management. Once reviewed and approved, the 990 is filed with the irs and new york state.

Form 990, Page 6, Part VI, Line 19

The organization makes its 990 available to the public through the new york state attorney general's website and upon written request. The organization has possession of all governing documents including conflict of interest and is available upon request. The organization will also submit the information to the new york state charities bureau.

Filing and Contact Details

Filer

Filer Name
Oh 161st St Housing Development
EIN
27-4062370
Phone
2123611625
Address
120 WALL STREET 17TH FLOOR, NEW YORK, NY 10005

Signing Officer

Name
Durga Vallabhaneni
Title
Treasurer
Phone
2123611625
Signed
2017-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Provet
Formed
2010
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Geltrude & Company LLC
Address
513 FRANKLIN AVE, NUTLEY, NJ 07110-1746
Preparer
Michael W Carlon
Phone
9736679100
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america require the management of the organization to evaluate tax positions taken by the organization and recognize a tax liability or asset if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has analyzed the tax positions taken by the organization, and has concluded that as of june 30, 2016, there are no uncertain positions taken or expected to be taken. The organization is subject to routine audits by taxing jurisdictions;however, there are currently no audits for any tax periods in process. Manangement believes the organization is no longer subject to income tax examinations for years prior to 2013.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE MANAGEMENT OF THE ORGANIZATION TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY OR ASSET IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2016, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS;HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROCESS. MANANGEMENT BELIEVES THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2013.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPLETED 990 IS REVIEWED BY MANAGEMENT. ONCE REVIEWED AND APPROVED, THE 990 IS FILED WITH THE IRS AND NEW YORK STATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS 990 AVAILABLE TO THE PUBLIC THROUGH THE NEW YORK STATE ATTORNEY GENERAL'S WEBSITE AND UPON WRITTEN REQUEST. THE ORGANIZATION HAS POSSESSION OF ALL GOVERNING DOCUMENTS INCLUDING CONFLICT OF INTEREST AND IS AVAILABLE UPON REQUEST. THE ORGANIZATION WILL ALSO SUBMIT THE INFORMATION TO THE NEW YORK STATE CHARITIES BUREAU.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0NEW YORK
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1120 WALL STREET 17TH FLOOR
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
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IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012298843
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IRS990/TotalAssetsGrp/BOYAmt012298843
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0375478
IRS990/TotalFunctionalExpensesGrp/TotalAmt0375478
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010587959
IRS990/TotalLiabilitiesEOYAmt010254341
IRS990/TotalLiabilitiesGrp/BOYAmt010587959
IRS990/TotalLiabilitiesGrp/EOYAmt010254341
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01710884
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02425873
IRS990/TotalOtherCompensationAmt0212405
IRS990/TotalProgramServiceExpensesAmt0375478
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0382368
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01090467
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012298843
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012680214
IRS990/TotReportableCompRltdOrgAmt0934579
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010005
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DURGA VALLABHANENI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02123611625
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OH 161ST ST HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0OH16
ReturnHeader/Filer/EIN0274062370
ReturnHeader/Filer/PhoneNum02123611625
ReturnHeader/Filer/USAddress/AddressLine1Txt0120 WALL STREET 17TH FLOOR
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010005
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223363665
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GELTRUDE & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0513 FRANKLIN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NUTLEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0071101746
ReturnHeader/PreparerPersonGrp/PhoneNum09736679100
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL W CARLON
ReturnHeader/ReturnTs02017-05-11T14:54:17-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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