Civic Intelligence

Mhany Peninsula Local Development

EIN 32-0575794 • 501(c)3 • Brooklyn, NY

Profile

Develop, on a non profit basis, a housing project for persons of low income.

470 Vanderbilt Ave 9th FloorBrooklyn, NY 11238

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

1.08x

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

59.32x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

2nd percentile

-173%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

28th percentile

-0.4%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Revenue Growth

61st percentile

12%

Faster revenue growth than 61% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Assets

Down

$38,843,159

Down $624,737 (-1.6%) from 2023

Liabilities

Up

$41,944,796

Up $1,201,603 (+2.9%) from 2023

Net Assets

Down

-$3,101,637

Down $1,826,340 (-143%) from 2023

Revenue

Up

$707,081

Up $531,590 (+303%) from 2023

Expenses

Up

$1,928,448

Up $658,401 (+52%) from 2023

Net Income

Down

-$1,221,367

Down $126,811 (-12%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2019: $11,146,292Liabilities 2019: $11,133,306Net Assets 2019: $12,9862019Assets 2020: $43,090,941Liabilities 2020: $43,094,019Net Assets 2020: -$3,0782020Assets 2021: $38,354,776Liabilities 2021: $38,369,979Net Assets 2021: -$15,2032021Assets 2022: $39,138,258Liabilities 2022: $39,693,085Net Assets 2022: -$554,8272022Assets 2023: $39,467,896Liabilities 2023: $40,743,193Net Assets 2023: -$1,275,2972023Assets 2024: $38,843,159Liabilities 2024: $41,944,796Net Assets 2024: -$3,101,6372024

Highlighted filing

2024

Assets$38,843,159
Liabilities$41,944,796
Net Assets-$3,101,637

Operations Trend

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2019: $12,996Expenses 2019: $10Net Income 2019: $12,9862019Revenue 2020: $0Expenses 2020: $16,064Net Income 2020: -$16,0642020Revenue 2021: $0Expenses 2021: $12,125Net Income 2021: -$12,1252021Revenue 2022: $563,369Expenses 2022: $1,102,993Net Income 2022: -$539,6242022Revenue 2023: $175,491Expenses 2023: $1,270,047Net Income 2023: -$1,094,5562023Revenue 2024: $707,081Expenses 2024: $1,928,448Net Income 2024: -$1,221,3672024

Highlighted filing

2024

Revenue$707,081
Expenses$1,928,448
Net Income-$1,221,367

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$707,081
Mission and Program Overview

Mission

Develop, on a non profit basis, a housing project for persons of low income.

Constructing, operating and leasing approximately 57,000 square feet of industrial commercial space in the bronx, new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$37,868,453$37,125,924▼ $742,529
Pledges and Grants Receivable-$940,708-
Accounts Receivable$1,419,627$197,601▼ $1,222,026
Cash and Non-Interest-Bearing Accounts$5,168$17,656▲ $12,488
Prepaid Expenses and Deferred Charges$7,250$6,676▼ $574
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,275,297$-3,101,637▼ $1,826,340
Total Assets$39,467,896$38,843,159▼ $624,737
Other Assets Total$167,398$554,594▲ $387,196
Liabilities
Mortgage Notes Payable Secured by Investment Property$17,973,985$18,788,727▲ $814,742
Deferred Revenue$14,959,909$14,230,205▼ $729,704
Other Liabilities$7,625,483$8,341,839▲ $716,356
Accounts Payable and Accrued Expenses$93,749$490,100▲ $396,351
Escrow Account Liability$90,067$93,925▲ $3,858
Total Liabilities$40,743,193$41,944,796▲ $1,201,603
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,275,297$-3,101,637▼ $1,826,340
Total Liabilities and Net Assets / Fund Balance$39,467,896$38,843,159▼ $624,737

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$37,125,924$1,982,777$39,108,701
Compensation and Service Providers

Board Members and Trustees

NameTitle
Derrick OwensPresident
Natalie BrownSecretary
Jenny PachecoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$375,000
Program Service Revenue
$326,558
Investment Income
$5,523
Other Revenue
$0
Change in Net Assets
$-1,221,367
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,928,448
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$972,137--$972,137
Interest$507,636--$507,636
Occupancy$169,240--$169,240
Other Expenses$85,078--$85,078
Insurance$43,677--$43,677
Office Expenses$18,979--$18,979
Fees for Services Accounting-$12,300-$12,300
Fees for Services Management-$11,991-$11,991
All Other Expenses$3,306--$3,306
Fees for Services Other$309--$309
Total Functional Expenses$1,904,157$24,291$0$1,928,448
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$6,851,407
Deferred Developer Fee Payable$1,490,432
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 all management responsibilities to mhany management.

Form 990, Part VI, Section A, Line 8B

Organization does not have commitiees.

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

Form 990 will be completed annually and copies will be provided to the entire governing board as well as the president of the organization. At that time the president will review the form 990 with the designated board members, any necessary changes will then be updated on form. Once all necessary changes are made and the president is in agreement with designated board members on the finished form 990, it will be signed by the president, dated and submitied by the filing deadline. A copy of the approved form 990 will be provided to all of the officers, directors and trustees before the return is filed.

Form 990, Part VI, Section C, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Mhany Peninsula Local Development
EIN
32-0575794
Phone
7182468080
Address
470 VANDERBILT AVE 9TH FLOOR, BROOKLYN, NY 11238

Signing Officer

Name
Ismene Speliotis
Title
Executive Director
Phone
7182468080
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ismene Speliotis
Formed
2018
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Cohnreznick Advisory LLC
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Lori Rothe Yokobosky
Phone
9732283500
Supplemental Narrative

Additional Explanations

FORM 990, PART IV, LINE 12 A AND B:

As of the date of filing the financial statement audit for the organization. Has not yet been completed. Form 990 has been prepared based on best information available. Should information substantially change upon the completion of the financial statement audit, appropriate action will be taken.

Financial Statement Notes

PART IV, LINE 2B:

The organization maintains security deposits as rquired by state law.

Raw XML AppendixShowing 400 of 908 raw XML fields

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/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED DEVELOPER FEE PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS SECURITY DEPOSITS AS RQUIRED BY STATE LAW.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt037125924
IRS990ScheduleD/TotalLiabilityAmt08341839
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AS OF THE DATE OF FILING THE FINANCIAL STATEMENT AUDIT FOR THE ORGANIZATION. HAS NOT YET BEEN COMPLETED. FORM 990 HAS BEEN PREPARED BASED ON BEST INFORMATION AVAILABLE. SHOULD INFORMATION SUBSTANTIALLY CHANGE UPON THE COMPLETION OF THE FINANCIAL STATEMENT AUDIT, APPROPRIATE ACTION WILL BE TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DELEGATES ALL MANAGEMENT RESPONSIBILITIES TO MHANY MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION DOES NOT HAVE COMMITIEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD AS WELL AS THE PRESIDENT OF THE ORGANIZATION. AT THAT TIME THE PRESIDENT WILL REVIEW THE FORM 990 WITH THE DESIGNATED BOARD MEMBERS, ANY NECESSARY CHANGES WILL THEN BE UPDATED ON FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE PRESIDENT IS IN AGREEMENT WITH DESIGNATED BOARD MEMBERS ON THE FINISHED FORM 990, IT WILL BE SIGNED BY THE PRESIDENT, DATED AND SUBMITIED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE OFFICERS, DIRECTORS AND TRUSTEES BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART IV, LINE 12 A AND B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd170
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd7N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd8N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd9N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd10N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd11N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd12N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd13N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd14N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd15N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd16N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd17N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0208927666
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd2NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd6NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd7NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd10NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd11NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd12NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd13NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd14NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd15NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd16NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd17NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2INVESTMENT
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt16INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt17INVESTMENT

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