Civic Intelligence

Reclaim Round II Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 27-4869299

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 15, 2020

Organization ProfileN/A
2751 Grand ConcourseBronx, NY 10468

(718) 933-3101

Siviq Scores

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

Liabilities / Assets

83rd percentile

1.07x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • NTEE L • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

7.54x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • NTEE L • $10M-$25M nonprofits • Source year 2019

Net Margin

40th percentile

-1.7%

Higher net margin than 40% of similar nonprofits.

2019 filings • NTEE L • $10M-$25M nonprofits • Source year 2019

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.

2019 filings • NTEE L • $10M-$25M nonprofits • Source year 2019

Asset Growth

53rd percentile

2.0%

Faster asset growth than 53% of similar nonprofits.

2019 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

22nd percentile

-1.9%

Faster revenue growth than 22% of similar nonprofits.

2019 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$14,660,289

Up $292,184 (+2.0%) from 2018

Net Assets

Up

-$1,037,193

Up $181,501 (+15%) from 2018

Liabilities

Up

$15,697,482

Up $110,683 (+0.7%) from 2018

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin40th percentile

Revenue

Down

$2,081,613

Down $40,944 (-1.9%) from 2018

Expenses

Up

$2,117,408

Up $25,216 (+1.2%) from 2018

Net Income

Down

-$35,795

Down $66,160 (-218%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$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

2019

Assets$14,660,289
Liabilities$15,697,482
Net Assets-$1,037,193
Open 2019 Filing

Operations Trend

Revenue Growth22nd percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$2,081,613
Expenses$2,117,408
Net Income-$35,795
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 15, 2020
Return Version
2019v5.1
Gross Receipts
$2,081,613
Mission and Program Overview

Mission

Preservation & improvement of housing in bronx, ny

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,243,267$7,232,936▼ $10,331
Cash and Non-Interest-Bearing Accounts$858,455$590,962▼ $267,493
Prepaid Expenses and Deferred Charges$211,666$225,650▲ $13,984
Accounts Receivable$170,760$148,806▼ $21,954
Intangible Assets$31,289$27,020▼ $4,269
Savings and Temporary Cash Investments$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
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$14,368,105$14,660,289▲ $292,184
Other Assets Total$5,852,668$6,434,915▲ $582,247
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,344,655$12,344,655→ $0
Other Liabilities$3,143,541$3,265,686▲ $122,145
Accounts Payable and Accrued Expenses$79,657$50,783▼ $28,874
Deferred Revenue$18,946$36,358▲ $17,412
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$15,586,799$15,697,482▲ $110,683
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-1,218,694$-1,037,193▲ $181,501
Total Net Assets Fund Balance$-1,218,694$-1,037,193▲ $181,501
Total Liabilities and Net Assets / Fund Balance$14,368,105$14,660,289▲ $292,184

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,395,727$2,601,113$8,996,840
Land$823,341-$823,341
Equipment$13,868-$13,868
Other Assets Org$51,860--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Joseph P MurianaPresident
Vanessa LanierSecretary
John a GarciaTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jimmy G ConstructionConstruction42-19 GLEANE STREET FLOOR 2, Elmhurst, NY 11373$174,960
Abd Construction CorpConstruction630 MORRIS PARK AVENUE, Bronx, NY 10460$165,094
Dougert Property Services LLCProperty Management2881 MIDDLETOWN ROAD, Bronx, NY 10461$152,723
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,875,590
Investment Income
$180,308
Other Revenue
$25,715
Change in Net Assets
$-35,795

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,081,613
Revenue Not Reported on Form 990
$277,781
Total Revenue per Audited Statements
$2,359,394
Total Revenue per Form 990
$2,081,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,894,430
Salaries, Compensation, and Employee Benefits$222,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,052,831--$1,052,831
Depreciation Depletion$309,835--$309,835
Fees for Services Management$222,410--$222,410
Other Salaries and Wages$167,598--$167,598
Interest$127,716--$127,716
Insurance$117,670--$117,670
Other Employee Benefits$51,335--$51,335
Fees for Services Legal$19,723$6,722-$26,445
Fees for Services Accounting$9,619$3,279-$12,898
Office Expenses$1,221$11,214-$12,435
Fees for Services Other$9,091$3,099-$12,190
Payroll Taxes$4,045--$4,045
Total Functional Expenses$2,093,094$24,314$0$2,117,408

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,117,408
Total Expenses per Audited Statements$2,117,408
Total Expenses per Form 990$2,117,408
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$3,127,313
Tenant Security Deposit$112,467
Due to Related Parties$25,906
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
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
% JOHANNA KLETTER
Phone
7189333101
Address
2751 GRAND CONCOURSE, BRONX, NY 10468

Signing Officer

Name
John a Garcia
Title
President
Phone
7189333101
Signed
2020-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John a Garcia
Formed
2011
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

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 Corporation 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 corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. Accounting principles generally accepted in the United States of America require evaluation of the tax positions taken or expected to be taken in the course of preparing the Corporation'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. The Corporation's federal and state tax returns for fiscal years after 2016 remain subject to examination by the relevant taxing authorities.”

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IRS990/LandBldgEquipCostOrOtherBssAmt09834049
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IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt012344655
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/TotalAmt01052831
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IRS990/OfficeExpensesGrp/ProgramServicesAmt01221
IRS990/OfficeExpensesGrp/TotalAmt012435
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherLiabilitiesGrp/EOYAmt03265686
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0167598
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IRS990/PayrollTaxesGrp/ProgramServicesAmt04045
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0211666
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0225650
IRS990/PrincipalOfficerNm0JOHN A GARCIA
IRS990/PriorPeriodAdjustmentsAmt0-60485
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME - TENANT
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL SUBSIDIARY - SECTION 8
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1455488
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1455488
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherExpensesAmt01901845
IRS990/PYOtherRevenueAmt051846
IRS990/PYProgramServiceRevenueAmt01904045
IRS990/PYRevenuesLessExpensesAmt030365
IRS990/PYSalariesCompEmpBnftPaidAmt0190347
IRS990/PYTotalExpensesAmt02092192
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02122557
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-35795
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01901305
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0180308
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0166666
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt050952
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt06207
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01309
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0405442
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0875590
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01904045
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01892338
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0772774
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01760282
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt07205029
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0180308
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0166666
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt050952
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt06207
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01309
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0405442
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt025715
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt051846
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt077561
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt07205029
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01904045
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0772774
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01760282
IRS990ScheduleA/Total509Grp/TotalAmt07205029
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01081613
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02122557
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01943290
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0778981
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01761591
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07688032
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06395727
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02601113
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08996840
IRS990ScheduleD/EquipmentGrp/BookValueAmt013868
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt013868
IRS990ScheduleD/ExpensesSubtotalAmt02117408
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0823341
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11494351
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23828385
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3112467
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt451860
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SINKING FUND RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS SECURITY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4UTILITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1112467
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt225906
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO RELATED PARTIES
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IRS990ScheduleD/RevenueSubtotalAmt02081613
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation 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 corporation not organized for profit, the Corporation is exempt from the New York State and New York City franchise tax. Accounting principles generally accepted in the United States of America require evaluation of the tax positions taken or expected to be taken in the course of preparing the Corporation'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. The Corporation's federal and state tax returns for fiscal years after 2016 remain subject to examination by the relevant taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0form 990, schedule d, PART X, LINE 2
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IRS990ScheduleD/TotalLiabilityAmt03265686
IRS990ScheduleD/TotalRevenuePerForm990Amt02081613
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02359394

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,660,289
Liabilities
$15,697,482
Net assets
-$1,037,193
Revenue
$2,081,613
Expenses
$2,117,408
Net income
-$35,795
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$16.4$2.08$2.53$2.53$0.00
2023Detailed filing. Detailed filing data is available for this year.$14.2$16.2$1.95$2.20$2.40$0.20
2022Detailed filing. Detailed filing data is available for this year.$14.2$16.1$1.86$2.08$2.14$0.06
2021Detailed filing. Detailed filing data is available for this year.$15.1$16.0$0.88$2.09$2.04$0.05
2020Detailed filing. Detailed filing data is available for this year.$15.1$15.8$0.69$2.21$2.04$0.17
2019Detailed filing. Detailed filing data is available for this year.$14.7$15.7$1.04$2.08$2.12$0.04
2018Detailed filing. Detailed filing data is available for this year.$14.4$15.6$1.22$2.12$2.09$0.03
2017Detailed filing. Detailed filing data is available for this year.$14.3$15.4$1.09$1.94$1.99$0.04
2016Detailed filing. Detailed filing data is available for this year.$14.3$15.3$1.02$1.78$1.79$0.01
2015Detailed filing. Detailed filing data is available for this year.$14.2$15.2$1.01$1.76$1.84$0.08