Civic Intelligence

H S C No 6 Housing Development Fund Company Inc.

990 • Fiscal year 2021 • EIN 34-1977180

Aug 01, 2020 to Jul 31, 2021 • Filed on Oct 28, 2021

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

79th percentile

1.50x

Higher debt load relative to assets than 79% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

11.28x

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

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Net Margin

58th percentile

-9.6%

Higher net margin than 58% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

73rd percentile

$225,251

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 66.0% of source-year revenue.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Asset Growth

58th percentile

-1.8%

Faster asset growth than 58% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

54th percentile

2.2%

Faster revenue growth than 54% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$2,559,675

Down $49,075 (-1.9%) from 2019

Net Assets

Down

-$1,291,701

Down $53,559 (-4.3%) from 2019

Liabilities

Up

$3,851,376

Up $4,484 (+0.1%) from 2019

Revenue

Up

$341,306

Up $76,423 (+29%) from 2019

Expenses

Up

$374,084

Up $39,421 (+12%) from 2019

Net Income

Up

-$32,778

Up $37,002 (+53%) from 2019

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

2021

Assets$2,559,675
Liabilities$3,851,376
Net Assets-$1,291,701

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

2021

Revenue$341,306
Expenses$374,084
Net Income-$32,778
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Oct 28, 2021
Return Version
2020v4.1
Gross Receipts
$341,306
Mission and Program Overview

Mission

Provide low income housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,179,658$2,296,201▲ $116,543
Savings and Temporary Cash Investments$367,402$195,015▼ $172,387
Cash and Non-Interest-Bearing Accounts$6,256$28,762▲ $22,506
Accounts Receivable$29,883$15,777▼ $14,106
Prepaid Expenses and Deferred Charges$9,729$10,342▲ $613
Total Assets$2,606,130$2,559,675▼ $46,455
Other Assets Total$13,202$13,578▲ $376
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,792,200$3,792,200→ $0
Accounts Payable and Accrued Expenses$18,307$29,912▲ $11,605
Deferred Revenue$14,397$15,686▲ $1,289
Other Liabilities$40,149$13,578▼ $26,571
Total Liabilities$3,865,053$3,851,376▼ $13,677
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,258,923$-1,291,701▼ $32,778
Total Net Assets Fund Balance$-1,258,923$-1,291,701▼ $32,778
Total Liabilities and Net Assets / Fund Balance$2,606,130$2,559,675▼ $46,455

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,908,063$1,919,267$3,827,330
Land$360,000-$360,000
Other Land Buildings$13,970$33,068$47,038
Equipment$14,168$2,848$17,016
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Lawrence CreganDirector-$141,739$141,739
Jeffrey HartmanDirector-$95,141$95,141
Janice DalessioDirector-$43,875$43,875
John ZanfinoDirector-$43,376$43,376
Judy FarabaughAccountant$4,400$198,458$4,400

Board Members and Trustees

NameTitle
William DavidsonPresident
Frank TassoneDirector
Vincent Frigeria IiiDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$31,000
Program Service Revenue
$310,200
Investment Income
$106
Other Revenue
$0
Change in Net Assets
$-32,778

Audited Revenue Reconciliation

Revenue per Audited Statements
$341,306
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$341,306
Total Revenue per Form 990
$341,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$314,723
Salaries, Compensation, and Employee Benefits$59,361
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$140,698--$140,698
Other Salaries and Wages$37,930$11,176-$49,106
Occupancy$42,529--$42,529
Fees for Services Management-$24,501-$24,501
Fees for Services Accounting-$15,400-$15,400
Insurance$15,247--$15,247
Other Expenses$51,980$14,513-$14,513
Other Employee Benefits$4,793$1,412-$6,205
Office Expenses-$5,404-$5,404
Fees for Services Legal-$4,451-$4,451
Payroll Taxes$3,128$922-$4,050
Total Functional Expenses$296,305$77,779$0$374,084

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$374,084
Total Expenses per Audited Statements$374,084
Total Expenses per Form 990$374,084
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$13,578
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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
2021-10-28
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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IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0310306
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0367402
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0195015
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt030000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt049180
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt079180
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0106
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0290
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0323
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0265
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0356
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01340
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0310200
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0284696
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0264560
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0242395
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0240333
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01342184
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0106
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0290
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0323
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0265
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0356
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01340
IRS990ScheduleA/InvestmentIncomeCYPct00.00090
IRS990ScheduleA/InvestmentIncomePYPct00.00160
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99910
IRS990ScheduleA/PublicSupportPY509Pct00.99840
IRS990ScheduleA/PublicSupportTotal509Amt01421364
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0340200
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0333876
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0264560
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0242395
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0240333
IRS990ScheduleA/Total509Grp/TotalAmt01421364
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0340306
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0334166
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0264883
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0242660
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0240689
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01422704
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01908063
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01919267
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03827330
IRS990ScheduleD/EquipmentGrp/BookValueAmt014168
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02848
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt017016
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0374084
IRS990ScheduleD/LandGrp/BookValueAmt0360000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0360000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013970
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033068
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt047038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013578
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0341306
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02296201
IRS990ScheduleD/TotalExpensesPerForm990Amt0374084
IRS990ScheduleD/TotalLiabilityAmt013578
IRS990ScheduleD/TotalRevenuePerForm990Amt0341306
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0341306
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0374084
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt14400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0225251
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1198458
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/TotalCompensationFilingOrgAmt14400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0225251
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1198458
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/GiftGrntCapContriFromOthOrgInd01

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