Civic Intelligence

Four Streets Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 34-1977017

Jul 01, 2018 to Jun 30, 2019 • Filed on Aug 06, 2020

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

85th percentile

1.23x

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

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

16.42x

Higher debt load relative to revenue than 91% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Net Margin

29th percentile

-18%

Higher net margin than 29% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$297,231

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 67.6% of source-year revenue.

2019 filings • NTEE L • $5M-$10M nonprofits • Source year 2019

Asset Growth

47th percentile

-1.9%

Faster asset growth than 47% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

8.8%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$5,862,845

Down $113,700 (-1.9%) from 2018

Net Assets

Down

-$1,354,976

Down $75,010 (-5.9%) from 2018

Liabilities

Down

$7,217,821

Down $38,690 (-0.5%) from 2018

Revenue

Up

$439,455

Up $35,633 (+8.8%) from 2018

Expenses

Down

$519,702

Down $22,275 (-4.1%) from 2018

Net Income

Up

-$80,247

Up $57,908 (+42%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$5,862,845
Liabilities$7,217,821
Net Assets-$1,354,976

Operations Trend

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

2019

Revenue$439,455
Expenses$519,702
Net Income-$80,247
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Aug 6, 2020
Return Version
2018v3.2
Gross Receipts
$439,455
Mission and Program Overview

Mission

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$5,712,291$5,587,614▼ $124,677
Accounts Receivable$28,531$55,749▲ $27,218
Prepaid Expenses and Deferred Charges$20,012$36,113▲ $16,101
Cash and Non-Interest-Bearing Accounts$50,709$31,549▼ $19,160
Intangible Assets$30,311$27,905▼ $2,406
Total Assets$5,976,545$5,862,845▼ $113,700
Other Assets Total$134,691$123,915▼ $10,776
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,054,541$7,029,883▼ $24,658
Other Liabilities$116,601$179,523▲ $62,922
Accounts Payable and Accrued Expenses$85,369$8,415▼ $76,954
Total Liabilities$7,256,511$7,217,821▼ $38,690
Net Assets / Fund Balance
Unrestricted Net Assets$-1,279,966$-1,354,976▼ $75,010
Total Net Assets Fund Balance$-1,279,966$-1,354,976▼ $75,010
Total Liabilities and Net Assets / Fund Balance$5,976,545$5,862,845▼ $113,700

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,572,349$1,831,435$7,403,784
Equipment$15,265-$15,265
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jeffery DunstonPresident
James HenrySecretary
Elliot RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$434,103
Investment Income
$1,345
Other Revenue
$4,007
Change in Net Assets
$-80,247

Audited Revenue Reconciliation

Revenue per Audited Statements
$439,455
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$439,455
Total Revenue per Form 990
$439,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$519,702
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$189,247--$189,247
Occupancy$93,402--$93,402
Fees for Services Management-$33,710-$33,710
Interest$31,684--$31,684
Insurance$26,530--$26,530
Fees for Services Accounting-$6,096-$6,096
Office Expenses$5,821$236-$6,057
Other Expenses$4,125--$4,125
Fees for Services Other$2,640--$2,640
All Other Expenses$480$1,773-$2,253
Fees for Services Legal$1,997--$1,997
Total Functional Expenses$477,887$41,815$0$519,702

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$519,702
Total Expenses per Audited Statements$519,702
Total Expenses per Form 990$519,702
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Developer Fee Payable$64,439
Water Sewer Payable$56,967
Tenant Security Deposit Payable$32,187
Accrued Liabilities$16,434
Escrow$4,446
Prepaid Rent$3,249
Due to Affiliates$1,801
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
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
No
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 11B

Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and completed. Subsequently, a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board of directors, the 990 will be filed.

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

Board members, officers, and employees report annually if there is any conflict of interest that appears to exist. If there is a conflict of interest, then the management and the board of directors 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, then the individual will refrain from participating in the deliberation and decision making concerning the matter that gives rise to the conflict.

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

The ceo salary is reviewed and approved by the board of directors and then sent to human resources and other key employees. This process is done annually.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

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

Signing Officer

Name
Jeffery Dunston
Title
President
Phone
7184539490
Signed
2020-08-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffery Dunston
Formed
2004
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Tidwell Group LLC
Address
11340 LAKEFIELD DR STE 150, JOHNS CREEK, GA 30097
Preparer
Ashley M Northcutt
Phone
2058221010
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has an audit committee which oversees the financial statements and is involved in the selection of the independent accountant which completes the audit. This process has not changed from the prior year.

FORM 990, PART XI, LINE 5:

Unrealized gains and losses on investments are carried at market value.

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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/OtherLiabilitiesOrgGrp/Desc0DEVELOPER FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3WATER SEWER PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4ACCRUED LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6ESCROW
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0439455
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05587614
IRS990ScheduleD/TotalExpensesPerForm990Amt0519702
IRS990ScheduleD/TotalLiabilityAmt0179523
IRS990ScheduleD/TotalRevenuePerForm990Amt0439455
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0439455
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0519702
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0297231
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEFFERY DUNSTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0297231
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT REVIEWS THE 990 TO OBTAIN AN UNDERSTANDING OF THE REPORTING REQUIREMENTS AND TO ENSURE IT IS ACCURATE AND COMPLETED. SUBSEQUENTLY, A COPY OF THE DRAFT 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. THE BOARD OF DIRECTORS WILL MEET WITH MANAGEMENT TO DISCUSS THE 990 AND RESOLVE ANY QUESTIONS THAT MAY ARISE. UPON APPROVAL FROM THE BOARD OF DIRECTORS, THE 990 WILL BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS, OFFICERS, AND EMPLOYEES REPORT ANNUALLY IF THERE IS ANY CONFLICT OF INTEREST THAT APPEARS TO EXIST. IF THERE IS A CONFLICT OF INTEREST, THEN THE MANAGEMENT AND THE BOARD OF DIRECTORS 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, THEN THE INDIVIDUAL WILL REFRAIN FROM PARTICIPATING IN THE DELIBERATION AND DECISION MAKING CONCERNING THE MATTER THAT GIVES RISE TO THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CEO SALARY IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS AND THEN SENT TO HUMAN RESOURCES AND OTHER KEY EMPLOYEES. THIS PROCESS IS DONE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH OVERSEES THE FINANCIAL STATEMENTS AND IS INVOLVED IN THE SELECTION OF THE INDEPENDENT ACCOUNTANT WHICH COMPLETES THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UNREALIZED GAINS AND LOSSES ON INVESTMENTS ARE CARRIED AT MARKET VALUE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 5:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NOT APPLICABLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NORTHEAST BROOKLYN HDC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0112737223
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RENTAL PROPERTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0132 RALPH AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd011233
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05976545
IRS990/TotalAssetsEOYAmt05862845
IRS990/TotalAssetsGrp/BOYAmt05976545
IRS990/TotalAssetsGrp/EOYAmt05862845
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041815
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0477887
IRS990/TotalFunctionalExpensesGrp/TotalAmt0519702
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07256511
IRS990/TotalLiabilitiesEOYAmt07217821
IRS990/TotalLiabilitiesGrp/BOYAmt07256511
IRS990/TotalLiabilitiesGrp/EOYAmt07217821
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1279966
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1354976
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0477887
IRS990/TotalProgramServiceRevenueAmt0434103
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0439455
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0439455
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05976545
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05862845
IRS990/TotReportableCompRltdOrgAmt0297231
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1279966
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1354976
IRS990/UponRequestInd0X

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