Civic Intelligence

Four Streets Housing Development Fund Corporation

990 • Fiscal year 2015 • EIN 34-1977017

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 27, 2016

Organization ProfileN/A
132 Ralph AvenueBrooklyn, NY 11233

(718) 453-9490

Siviq Scores

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

Liabilities / Assets

77th percentile

1.13x

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

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

94th percentile

21.04x

Higher debt load relative to revenue than 94% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Net Margin

5th percentile

-63%

Higher net margin than 5% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

64th percentile

$150,000

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 43.5% of source-year revenue.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Asset Growth

43rd percentile

-2.1%

Faster asset growth than 43% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

9th percentile

-30%

Faster revenue growth than 9% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$6,451,355

Down $138,090 (-2.1%) from 2014

Net Assets

Down

-$807,648

Down $218,162 (-37%) from 2014

Liabilities

Up

$7,259,003

Up $80,072 (+1.1%) from 2014

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin5th percentile

Revenue

Down

$344,964

Down $144,930 (-30%) from 2014

Expenses

Up

$563,221

Up $104,485 (+23%) from 2014

Net Income

Down

-$218,257

Down $249,415 (-800%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$10M$5.0M$0-$5.0MAssets 2014: $6,589,445Liabilities 2014: $7,178,931Net Assets 2014: -$589,4862014Assets 2015: $6,451,355Liabilities 2015: $7,259,003Net Assets 2015: -$807,6482015Assets 2018: $5,976,545Liabilities 2018: $7,256,511Net Assets 2018: -$1,279,9662018Assets 2019: $5,862,845Liabilities 2019: $7,217,821Net Assets 2019: -$1,354,9762019Assets 2020: $5,733,861Liabilities 2020: $7,210,497Net Assets 2020: -$1,476,6362020Assets 2021: $5,610,910Liabilities 2021: $7,197,288Net Assets 2021: -$1,586,3782021Assets 2022: $5,610,910Liabilities 2022: $7,197,288Net Assets 2022: -$1,586,3782022Assets 2023: $5,273,999Liabilities 2023: $7,230,000Net Assets 2023: -$1,956,0012023Assets 2024: $5,247,379Liabilities 2024: $7,367,701Net Assets 2024: -$2,120,3222024

Highlighted filing

2015

Assets$6,451,355
Liabilities$7,259,003
Net Assets-$807,648
Open 2015 Filing

Operations Trend

Revenue Growth9th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $489,894Expenses 2014: $458,736Net Income 2014: $31,1582014Revenue 2015: $344,964Expenses 2015: $563,221Net Income 2015: -$218,2572015Revenue 2018: $403,822Expenses 2018: $541,977Net Income 2018: -$138,1552018Revenue 2019: $439,455Expenses 2019: $519,702Net Income 2019: -$80,2472019Revenue 2020: $448,500Expenses 2020: $574,538Net Income 2020: -$126,0382020Revenue 2021: $459,167Expenses 2021: $603,023Net Income 2021: -$143,8562021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $456,638Expenses 2023: $746,682Net Income 2023: -$290,0442023Revenue 2024: $455,287Expenses 2024: $639,494Net Income 2024: -$184,2072024

Highlighted filing

2015

Revenue$344,964
Expenses$563,221
Net Income-$218,257
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 27, 2016
Return Version
2014v6.0
Gross Receipts
$344,964
Mission and Program Overview

Mission

To provide affordable housing for persons of low income in sections of brooklyn, new york.

To provide affordable housing for persons of low income in sections of Brooklyn, New York

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,296,042$6,131,604▼ $164,438
Cash and Non-Interest-Bearing Accounts$124,488$154,006▲ $29,518
Accounts Receivable$23,304$22,634▼ $670
Total Assets$6,589,445$6,451,355▼ $138,090
Other Assets Total$145,611$143,111▼ $2,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,142,468$7,121,929▼ $20,539
Other Liabilities$29,420$97,101▲ $67,681
Accounts Payable and Accrued Expenses$7,043$39,973▲ $32,930
Total Liabilities$7,178,931$7,259,003▲ $80,072
Net Assets / Fund Balance
Unrestricted Net Assets$-589,486$-807,648▼ $218,162
Total Net Assets Fund Balance$-589,486$-807,648▼ $218,162
Total Liabilities and Net Assets / Fund Balance$6,589,445$6,451,355▼ $138,090

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,131,604$1,093,697$7,225,301
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleOtherTotal
-President$150,000$150,000

Board Members and Trustees

NameTitle
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$339,965
Investment Income
$570
Other Revenue
$4,429
Change in Net Assets
$-218,257

Audited Revenue Reconciliation

Revenue per Audited Statements
$344,964
Total Revenue per Audited Statements
$344,964
Total Revenue per Form 990
$344,964
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$563,221
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$183,434--$183,434
All Other Expenses$154,406--$154,406
Other Expenses$46,340--$46,340
Interest$33,914--$33,914
Fees for Services Management$27,372--$27,372
Insurance$14,931--$14,931
Fees for Services Accounting$5,600--$5,600
Fees for Services Legal$2,769--$2,769
Total Functional Expenses$563,221$0$0$563,221

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$563,221
Total Expenses per Audited Statements$563,221
Total Expenses per Form 990$563,221
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Sponsoring EntityManagement and administrativeNo$73,712
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$64,439
Accrued Interest Payable$30,688
Developer fee payable$1,974
Tenant Security Deposit Payable-
Due To NEBHDC-
Prepaid Rent-
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 family members
Yes
Business relationship with organization members
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Management review 990 to obtain an understanding of the reporting requirement and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the board for review. The board of directors will meet with management to discuss the 990 and resolve any question that may arise. Upon arrival from the board, the 990 will be discussed.”

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

“Board members, officers, and employees report annually. If a conflict appears to exist, management and the board will meet with the individual to obtain all the facts. Subsequently, a vote will ensure if the matter is indeed a conflict of interest. If it is found to be a conflict of interest, the individual with the conflict of interest must refrain from participating in the deliberation and decision making concerning the matter that gave rise to the conflict.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflicts of interest policy, and financial statements are available upon request.”

Form 990, Part VI, Section B, Line 15A

“The CEO salary is reviewed and approved by the board of directors. A copy is sent to the Human Resource Manager and the employee. This is a process that is done annually.”

Filing and Contact Details

Filer

Filer Name
Four Streets Housing Developing Fund Corporation
EIN
34-1977017
Phone
7184539490
Address
132 RALPH AVENUE, BROOKLYN, NY 11233

Signing Officer

Name
Jeffrey Dunston
Title
President
Signed
2016-04-27
Discuss with paid preparer
Yes

Organization Details

Formed
2004
Legal Domicile
Ny
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Ivan Armstrong CPA
Address
233 Broadway Ste 2075, New York, NY 10279
Preparer
Ivan Armstrong CPA
Phone
2122332777
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“Unrealized gains and losses on investments carried at market value.”

Form 990, Part XII, Line 2C

“There was no change in the audit review process this year.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Tenant Security Deposit Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Due To NEBHDC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5Prepaid Rent
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0344964
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06131604
IRS990ScheduleD/TotalExpensesPerForm990Amt0563221
IRS990ScheduleD/TotalLiabilityAmt097101
IRS990ScheduleD/TotalRevenuePerForm990Amt0344964
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0344964
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0563221
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Northeast Brooklyn HDC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Sponsoring Entity
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt073712
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Management and administrative
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management review 990 to obtain an understanding of the reporting requirement and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the board for review. The board of directors will meet with management to discuss the 990 and resolve any question that may arise. Upon arrival from the board, the 990 will be discussed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members, officers, and employees report annually. If a conflict appears to exist, management and the board will meet with the individual to obtain all the facts. Subsequently, a vote will ensure if the matter is indeed a conflict of interest. If it is found to be a conflict of interest, the individual with the conflict of interest must refrain from participating in the deliberation and decision making concerning the matter that gave rise to the conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents, conflicts of interest policy, and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The CEO salary is reviewed and approved by the board of directors. A copy is sent to the Human Resource Manager and the employee. This is a process that is done annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Unrealized gains and losses on investments carried at market value.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5There was no change in the audit review process this year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2c
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Not Applicable
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Northeast Brooklyn HDC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0112737223
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Rental Property
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0132 Ralph Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Brooklyn
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd011233
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Northeast Brooklyn Development Corporation
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0l
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06589445
IRS990/TotalAssetsEOYAmt06451355
IRS990/TotalAssetsGrp/BOYAmt06589445
IRS990/TotalAssetsGrp/EOYAmt06451355
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0563221
IRS990/TotalFunctionalExpensesGrp/TotalAmt0563221
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07178931
IRS990/TotalLiabilitiesEOYAmt07259003
IRS990/TotalLiabilitiesGrp/BOYAmt07178931
IRS990/TotalLiabilitiesGrp/EOYAmt07259003
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-589486
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-807648
IRS990/TotalOtherCompensationAmt0150000
IRS990/TotalProgramServiceExpensesAmt0563221
IRS990/TotalProgramServiceRevenueAmt0339965
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0344964
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0344964
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06589445
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06451355
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-589486
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-807648
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0132 Ralph Ave
IRS990/USAddress/CityNm0Brooklyn
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011233
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jeffrey Dunston
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Four Streets Housing Developing Fund Corporation
ReturnHeader/Filer/BusinessNameControlTxt0FOUR
ReturnHeader/Filer/EIN0341977017
ReturnHeader/Filer/PhoneNum07184539490
ReturnHeader/Filer/USAddress/AddressLine1Txt0132 RALPH AVENUE
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011233

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,451,355
Liabilities
$7,259,003
Net assets
-$807,648
Revenue
$344,964
Expenses
$563,221
Net income
-$218,257
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.25$7.37$2.12$0.46$0.64$0.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.27$7.23$1.96$0.46$0.75$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.61$7.20$1.59$0.00$0.00$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.61$7.20$1.59$0.46$0.60$0.14
2020Detailed filing. Detailed filing data is available for this year.$5.73$7.21$1.48$0.45$0.57$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.86$7.22$1.35$0.44$0.52$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.98$7.26$1.28$0.40$0.54$0.14
2015Detailed filing. Detailed filing data is available for this year.$6.45$7.26$0.81$0.34$0.56$0.22
2014Detailed filing. Detailed filing data is available for this year.$6.59$7.18$0.59$0.49$0.46$0.03