Civic Intelligence

H S C No 6 Housing Development Fund Company Inc.

990 • Fiscal year 2019 • EIN 34-1977180

Aug 01, 2018 to Jul 31, 2019 • Filed on Oct 25, 2019

Refreshing map…

650 Paumanack Village DrGreenlawn, NY 11740

(631) 897-0997

Siviq Scores

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

Liabilities / Assets

84th percentile

1.47x

Higher debt load relative to assets than 84% of similar nonprofits.

2019 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

14.52x

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

2019 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2019

Net Margin

42nd percentile

-26%

Higher net margin than 42% of similar nonprofits.

2019 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

72nd percentile

$214,000

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 80.8% of source-year revenue.

2019 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2019

Asset Growth

44th percentile

-2.8%

Faster asset growth than 44% of similar nonprofits.

2019 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

9.2%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,608,750

Down $386,719 (-13%) from 2017

Net Assets

Down

-$1,238,142

Down $146,541 (-13%) from 2017

Liabilities

Down

$3,846,892

Down $240,178 (-5.9%) from 2017

Revenue

Up

$264,883

Up $24,194 (+10%) from 2017

Expenses

Down

$334,663

Down $2,727 (-0.8%) from 2017

Net Income

Up

-$69,780

Up $26,921 (+28%) from 2017

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $3,423,912Liabilities 2011: $3,837,602Net Assets 2011: -$413,6902011Assets 2012: $3,379,780Liabilities 2012: $3,842,485Net Assets 2012: -$462,7052012Assets 2013: $3,320,460Liabilities 2013: $3,845,640Net Assets 2013: -$525,1802013Assets 2014: $3,253,258Liabilities 2014: $3,849,106Net Assets 2014: -$595,8482014Assets 2015: $3,151,326Liabilities 2015: $3,847,288Net Assets 2015: -$695,9622015Assets 2017: $2,995,469Liabilities 2017: $4,087,070Net Assets 2017: -$1,091,6012017Assets 2019: $2,608,750Liabilities 2019: $3,846,892Net Assets 2019: -$1,238,1422019Assets 2021: $2,559,675Liabilities 2021: $3,851,376Net Assets 2021: -$1,291,7012021Assets 2022: $2,605,636Liabilities 2022: $3,824,736Net Assets 2022: -$1,219,1002022Assets 2025: $2,270,357Liabilities 2025: $3,835,036Net Assets 2025: -$1,564,6792025

Highlighted filing

2019

Assets$2,608,750
Liabilities$3,846,892
Net Assets-$1,238,142

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $313,5682011Expenses 2012: $288,3462012Expenses 2013: $304,2652013Revenue 2014: $238,939Expenses 2014: $309,607Net Income 2014: -$70,6682014Revenue 2015: $241,906Expenses 2015: $342,020Net Income 2015: -$100,1142015Revenue 2017: $240,689Expenses 2017: $337,390Net Income 2017: -$96,7012017Revenue 2019: $264,883Expenses 2019: $334,663Net Income 2019: -$69,7802019Revenue 2021: $341,306Expenses 2021: $374,084Net Income 2021: -$32,7782021Revenue 2022: $467,863Expenses 2022: $395,262Net Income 2022: $72,6012022Revenue 2025: $362,354Expenses 2025: $445,236Net Income 2025: -$82,8822025

Highlighted filing

2019

Revenue$264,883
Expenses$334,663
Net Income-$69,780
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Oct 25, 2019
Return Version
2018v3.1
Gross Receipts
$264,883
Mission and Program Overview

Mission

Provide low income housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,390,019$2,260,471▼ $129,548
Savings and Temporary Cash Investments$243,361$268,295▲ $24,934
Cash and Non-Interest-Bearing Accounts$7,291$42,529▲ $35,238
Accounts Receivable$20,048$14,523▼ $5,525
Prepaid Expenses and Deferred Charges$10,107$9,730▼ $377
Total Assets$2,683,372$2,608,750▼ $74,622
Other Assets Total$12,546$13,202▲ $656
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,792,200$3,792,200→ $0
Other Liabilities$27,293$25,451▼ $1,842
Accounts Payable and Accrued Expenses$23,311$17,007▼ $6,304
Deferred Revenue$8,930$12,234▲ $3,304
Total Liabilities$3,851,734$3,846,892▼ $4,842
Net Assets / Fund Balance
Unrestricted Net Assets$-1,168,362$-1,238,142▼ $69,780
Total Net Assets Fund Balance$-1,168,362$-1,238,142▼ $69,780
Total Liabilities and Net Assets / Fund Balance$2,683,372$2,608,750▼ $74,622

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,880,565$1,652,210$3,532,775
Land$360,000-$360,000
Other Land Buildings$19,626$27,412$47,038
Equipment$280$1,244$1,524
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Lawrence CreganDirector-$134,908$134,908
Jeffrey HartmanDirector-$90,000$90,000
Janice DalessioDirector-$41,380$41,380
John ZanfinoDirector-$41,380$41,380
Judy FarabaughAccountant$4,800$168,909$4,800

Board Members and Trustees

NameTitle
William DavidsonPresident
Frank TassoneDirector
Vincent Frigeria IiiDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$264,560
Investment Income
$323
Other Revenue
$0
Change in Net Assets
$-69,780

Audited Revenue Reconciliation

Revenue per Audited Statements
$264,883
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$264,883
Total Revenue per Form 990
$264,883
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$287,781
Salaries, Compensation, and Employee Benefits$46,882
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$132,947--$132,947
Occupancy$45,518--$45,518
Other Salaries and Wages$30,163$8,695-$38,858
Fees for Services Management-$21,420-$21,420
Fees for Services Accounting-$15,400-$15,400
Insurance$15,272--$15,272
Office Expenses-$7,479-$7,479
Payroll Taxes$3,762$1,084-$4,846
Fees for Services Legal-$3,917-$3,917
Other Employee Benefits$2,466$712-$3,178
Other Expenses$2$5,795-$2
Total Functional Expenses$270,161$64,502$0$334,663

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$334,663
Total Expenses per Audited Statements$334,663
Total Expenses per Form 990$334,663
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
Tenants Security Deposits$13,202
Loans Payable - Related Party$12,200
Residual Receipts Due to Hud$49
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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

Jmd einsidler management corp is the managing agent.

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

The organization's president and treasurer meet with the preparer and discuss the filing with the board for approval.

Form 990, Part VI, Section C, line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Hsc No 6 Housing Development Fund
EIN
34-1977180
Phone
6318970997
Address
650 PAUMANACK VILLAGE DR, GREENLAWN, NY 11740

Signing Officer

Name
William Davidson
Title
President
Phone
6318970997
Signed
2019-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Davidson
Formed
2002
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
2
Employees
1
Volunteers
0

Preparer

Firm
King and Associatescpapc
Address
320 CARLETON AVESTE 3500, CENTRAL ISLIP, NY 11722
Preparer
Robert King CPA
Phone
6312315336
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0239739
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0241308
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01228335
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0323
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0265
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0356
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0896
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0598
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02438
IRS990ScheduleA/InvestmentIncomeCYPct00.00200
IRS990ScheduleA/InvestmentIncomePYPct00.00210
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99800
IRS990ScheduleA/PublicSupportPY509Pct00.99790
IRS990ScheduleA/PublicSupportTotal509Amt01228335
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0264560
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0242395
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0240333
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0239739
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0241308
IRS990ScheduleA/Total509Grp/TotalAmt01228335
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0264883
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0242660
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0240689
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0240635
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0241906
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01230773
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01880565
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01652210
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03532775
IRS990ScheduleD/EquipmentGrp/BookValueAmt0280
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01244
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01524
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0334663
IRS990ScheduleD/LandGrp/BookValueAmt0360000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0360000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt019626
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027412
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt047038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013202
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt149
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RESIDUAL RECEIPTS DUE TO HUD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LOANS PAYABLE - RELATED PARTY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0264883
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02260471
IRS990ScheduleD/TotalExpensesPerForm990Amt0334663
IRS990ScheduleD/TotalLiabilityAmt025451
IRS990ScheduleD/TotalRevenuePerForm990Amt0264883
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0264883
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0334663
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt14800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0214000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1168909
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0WILLIAM DAVIDSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JUDY FARABAUGH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1ACCOUNTANT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt14800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0214000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1168909
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JMD EINSIDLER MANAGEMENT CORP IS THE MANAGING AGENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S PRESIDENT AND TREASURER MEET WITH THE PREPARER AND DISCUSS THE FILING WITH THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0261952956
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1261952571
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0OPERATE LOW INCOME HOUSING RENTAL UNITS FOR SENIOR CITIZENS
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1OPERATE LOW INCOME HOUSING RENTAL UNITS FOR SENIOR CITIZENS
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0PAUMANACK VILLAGE II OWNER LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1PAUMANACK VILLAGE III OWNER LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0650 PAUMANACK VILLAGE DR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1650 PAUMANACK VILLAGE DR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0GREENLAWN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1GREENLAWN

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