Civic Intelligence

Reclaim Round II Housing Development Fund

EIN 27-4869299 • 501(c)3 • Bronx, NY

Profile

Preservation & improvement of housing in bronx, ny

2751 Grand ConcourseBronx, NY 10468

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

85th percentile

1.15x

Higher debt load relative to assets than 85% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

6.46x

Higher debt load relative to revenue than 71% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Net Margin

34th percentile

-0.0%

Higher net margin than 34% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE L • $10M-$25M nonprofits • Source year 2024

Asset Growth

42nd percentile

0.2%

Faster asset growth than 42% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

15%

Faster revenue growth than 70% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$14,276,777

Up $28,960 (+0.2%) from 2023

Liabilities

Up

$16,353,334

Up $152,266 (+0.9%) from 2023

Net Assets

Down

-$2,076,557

Down $123,306 (-6.3%) from 2023

Revenue

Up

$2,530,050

Up $325,742 (+15%) from 2023

Expenses

Up

$2,530,063

Up $125,501 (+5.2%) from 2023

Net Income

Up

-$13

Up $200,241 (+100%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2015: $14,172,942Liabilities 2015: $15,183,501Net Assets 2015: -$1,010,5592015Assets 2016: $14,270,550Liabilities 2016: $15,289,849Net Assets 2016: -$1,019,2992016Assets 2017: $14,338,464Liabilities 2017: $15,425,729Net Assets 2017: -$1,087,2652017Assets 2018: $14,368,105Liabilities 2018: $15,586,799Net Assets 2018: -$1,218,6942018Assets 2019: $14,660,289Liabilities 2019: $15,697,482Net Assets 2019: -$1,037,1932019Assets 2020: $15,086,669Liabilities 2020: $15,777,973Net Assets 2020: -$691,3042020Assets 2021: $15,078,373Liabilities 2021: $15,959,303Net Assets 2021: -$880,9302021Assets 2022: $14,212,266Liabilities 2022: $16,072,292Net Assets 2022: -$1,860,0262022Assets 2023: $14,247,817Liabilities 2023: $16,201,068Net Assets 2023: -$1,953,2512023Assets 2024: $14,276,777Liabilities 2024: $16,353,334Net Assets 2024: -$2,076,5572024

Highlighted filing

2024

Assets$14,276,777
Liabilities$16,353,334
Net Assets-$2,076,557

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,761,591Expenses 2015: $1,842,782Net Income 2015: -$81,1912015Revenue 2016: $1,778,981Expenses 2016: $1,787,721Net Income 2016: -$8,7402016Revenue 2017: $1,943,290Expenses 2017: $1,986,506Net Income 2017: -$43,2162017Revenue 2018: $2,122,557Expenses 2018: $2,092,192Net Income 2018: $30,3652018Revenue 2019: $2,081,613Expenses 2019: $2,117,408Net Income 2019: -$35,7952019Revenue 2020: $2,213,845Expenses 2020: $2,043,269Net Income 2020: $170,5762020Revenue 2021: $2,086,564Expenses 2021: $2,039,940Net Income 2021: $46,6242021Revenue 2022: $2,078,418Expenses 2022: $2,137,754Net Income 2022: -$59,3362022Revenue 2023: $2,204,308Expenses 2023: $2,404,562Net Income 2023: -$200,2542023Revenue 2024: $2,530,050Expenses 2024: $2,530,063Net Income 2024: -$132024

Highlighted filing

2024

Revenue$2,530,050
Expenses$2,530,063
Net Income-$13

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$2,530,050
Mission and Program Overview

Mission

Preservation & improvement of housing in bronx, ny

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,788,440$6,490,246▼ $298,194
Savings and Temporary Cash Investments$881,276$1,072,862▲ $191,586
Accounts Receivable$413,416$532,558▲ $119,142
Prepaid Expenses and Deferred Charges$361,692$399,597▲ $37,905
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$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$14,247,817$14,276,777▲ $28,960
Other Assets Total$5,802,993$5,781,514▼ $21,479
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,334,700$12,338,967▲ $4,267
Other Liabilities$3,762,450$3,944,341▲ $181,891
Deferred Revenue$50,947$66,656▲ $15,709
Accounts Payable and Accrued Expenses$52,971$3,370▼ $49,601
Grants Payable$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$16,201,068$16,353,334▲ $152,266
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-1,953,251$-2,076,557▼ $123,306
Total Net Assets Fund Balance$-1,953,251$-2,076,557▼ $123,306
Total Liabilities and Net Assets / Fund Balance$14,247,817$14,276,777▲ $28,960

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,727,489$3,682,577$7,410,066
Leasehold Improvements$1,939,416$612,523$2,551,939
Land$823,341-$823,341
Equipment$0$13,868$13,868
Other Assets Org$51,860--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joseph P MurianaPresident
Vanessa LanierSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,073,387
Investment Income
$238,371
Other Revenue
$218,292
Change in Net Assets
$-13

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,530,050
Revenue Not Reported on Form 990
$-123,293
Total Revenue per Audited Statements
$2,406,757
Total Revenue per Form 990
$2,530,050
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,313,735
Salaries, Compensation, and Employee Benefits$216,328
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,213,695--$1,213,695
Depreciation Depletion$363,632--$363,632
Insurance$265,462--$265,462
Fees for Services Management$234,761--$234,761
Other Salaries and Wages$160,970--$160,970
Interest$127,714--$127,714
Office Expenses$35,312$20,823-$56,135
Other Employee Benefits$53,326--$53,326
Fees for Services Other$26,595--$26,595
Fees for Services Legal$8,165$14,940-$23,105
Fees for Services Accounting-$2,636-$2,636
Pension Plan Contributions$2,032--$2,032
Total Functional Expenses$2,491,664$38,399$0$2,530,063

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,530,063
Total Expenses per Audited Statements$2,530,063
Total Expenses per Form 990$2,530,063
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Accrued Interest Payable$3,744,548
Tenant Security Deposits$170,244
Due to Affiliate$29,549
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, PART VI, SECTION A, LINE 8B:

On an annual basis the organization documents meetings and significant transactions in the board of director minutes.

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

The board of directors hold an annual meeting in which the outside auditors conduct a presentation and explanation of the audited financial statements and the annual tax returns, as well as a discussion of internal controls.

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

The conflict of interest policy is renewed annually with all officers of the organization. Potential conflicts are brought to the executive committee for review and officers found to have conflict of interest are asked to resign or abstain from involvement in all related projects.

Form 990, Part VI, Section B, Line 15

Currently the organization does not have any key employees but for the future decisions regarding compensation is based on the recommendations of an independent committee that considers performance, scope of responsibilities and salary compensation for similar positions. Final approval of salary compensation must be approved by the entire board of directors. Currently the organization does not have a ceo, executive director or top management official. All future compensation-related decisions are based on the recommendations of an independent committee that considers performance, scope of responsibility and remuneration for similar positions. Final approval for ceo compensation must be approved by the entire board of directors.

FORM 990, PART VI, SECTION C, LINE 19:

After approval of the financial statements by the board of directors on an annual basis, the organization makes available all governance documents, policy statements, financial statements and tax returns to the public upon written request. The organization also timely files its annual new york state char 500 report with the new york state attorney general. All of its filings are available through the nysoag charities website.

Filing and Contact Details

Filer

Filer Name
Reclaim Round II Housing Development Fund
EIN
27-4869299
In Care Of
% BRENDAN MITCHELL
Phone
7189333101
Address
2751 Grand Concourse, Bronx, NY 10468

Signing Officer

Name
Joseph P Muriana
Title
President
Phone
7189333101
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph P Muriana
Formed
2011
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Joseph Perez
Phone
7328281614
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Management and board of directors is responsible for oversight of the audit and selection of an independent accountant.

Financial Statement Notes

form 990, schedule D, PART X, LINE 2

The Organization has tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (the "Code") and is exempt from federal income taxes on related income pursuant to Section 101(a) of the Code. Being a nonstock Organization not organized for profit, the Organization is exempt from the New York State and New York City franchise tax. GAAP requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Organization's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. Further, there are no income tax related penalties and interest included in these financial statements. The Organization's federal and state tax returns for fiscal years after 2021 remain subject to examination by the relevant taxing authorities. As of December 31, 2024 and 2023, there are no examinations in progress.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SINKING FUND RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4UTILITY DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization has tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (the "Code") and is exempt from federal income taxes on related income pursuant to Section 101(a) of the Code. Being a nonstock Organization not organized for profit, the Organization is exempt from the New York State and New York City franchise tax. GAAP requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Organization's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. Further, there are no income tax related penalties and interest included in these financial statements. The Organization's federal and state tax returns for fiscal years after 2021 remain subject to examination by the relevant taxing authorities. As of December 31, 2024 and 2023, there are no examinations in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0form 990, schedule d, PART X, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ON AN ANNUAL BASIS THE ORGANIZATION DOCUMENTS MEETINGS AND SIGNIFICANT TRANSACTIONS IN THE BOARD OF DIRECTOR MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS HOLD AN ANNUAL MEETING IN WHICH THE OUTSIDE AUDITORS CONDUCT A PRESENTATION AND EXPLANATION OF THE AUDITED FINANCIAL STATEMENTS AND THE ANNUAL TAX RETURNS, AS WELL AS A DISCUSSION OF INTERNAL CONTROLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS RENEWED ANNUALLY WITH ALL OFFICERS OF THE ORGANIZATION. POTENTIAL CONFLICTS ARE BROUGHT TO THE EXECUTIVE COMMITTEE FOR REVIEW AND OFFICERS FOUND TO HAVE CONFLICT OF INTEREST ARE ASKED TO RESIGN OR ABSTAIN FROM INVOLVEMENT IN ALL RELATED PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CURRENTLY THE ORGANIZATION DOES NOT HAVE ANY KEY EMPLOYEES BUT FOR THE FUTURE DECISIONS REGARDING COMPENSATION IS BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBILITIES AND SALARY COMPENSATION FOR SIMILAR POSITIONS. FINAL APPROVAL OF SALARY COMPENSATION MUST BE APPROVED BY THE ENTIRE BOARD OF DIRECTORS. CURRENTLY THE ORGANIZATION DOES NOT HAVE A CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT OFFICIAL. ALL FUTURE COMPENSATION-RELATED DECISIONS ARE BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBILITY AND REMUNERATION FOR SIMILAR POSITIONS. FINAL APPROVAL FOR CEO COMPENSATION MUST BE APPROVED BY THE ENTIRE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AFTER APPROVAL OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS, THE ORGANIZATION MAKES AVAILABLE ALL GOVERNANCE DOCUMENTS, POLICY STATEMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC UPON WRITTEN REQUEST. THE ORGANIZATION ALSO TIMELY FILES ITS ANNUAL NEW YORK STATE CHAR 500 REPORT WITH THE NEW YORK STATE ATTORNEY GENERAL. ALL OF ITS FILINGS ARE AVAILABLE THROUGH THE NYSOAG CHARITIES WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANAGEMENT AND BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B:
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HOUSIN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0ROSEHILL SENIOR APTS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt02855 SOUTHERN BLVD

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