Civic Intelligence

Mhany 2012 II Housing Development Fund Corporation

990 • Fiscal year 2020 • EIN 45-5133701

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 02, 2021

Organization ProfileN/A
470 Vanderbilt Ave 9th FloorBrooklyn, NY 11238

(718) 246-8080

Siviq Scores

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

Liabilities / Assets

72nd percentile

1.04x

Higher debt load relative to assets than 72% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

19.96x

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

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Net Margin

5th percentile

-60%

Higher net margin than 5% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Asset Growth

13th percentile

-4.6%

Faster asset growth than 13% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

69%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$6,264,401

Down $300,065 (-4.6%) from 2019

Net Assets

Down

-$278,354

Down $302,244 (-1265%) from 2019

Liabilities

Up

$6,542,755

Up $2,179 (+0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin5th percentile

Revenue

Up

$327,811

Up $134,114 (+69%) from 2019

Expenses

Up

$523,756

Up $112,864 (+27%) from 2019

Net Income

Up

-$195,945

Up $21,250 (+9.8%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$10M$5.0M$0-$5.0MAssets 2019: $6,564,466Liabilities 2019: $6,540,576Net Assets 2019: $23,8902019Assets 2020: $6,264,401Liabilities 2020: $6,542,755Net Assets 2020: -$278,3542020Assets 2021: $6,138,842Liabilities 2021: $6,607,344Net Assets 2021: -$468,5022021Assets 2022: $5,981,265Liabilities 2022: $6,763,192Net Assets 2022: -$781,9272022Assets 2023: $5,815,822Liabilities 2023: $6,796,661Net Assets 2023: -$980,8392023Assets 2024: $5,783,393Liabilities 2024: $6,992,487Net Assets 2024: -$1,209,0942024

Highlighted filing

2020

Assets$6,264,401
Liabilities$6,542,755
Net Assets-$278,354
Open 2020 Filing

Operations Trend

Revenue Growth93rd percentile

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

$1.0M$500K$0-$500KRevenue 2019: $193,697Expenses 2019: $410,892Net Income 2019: -$217,1952019Revenue 2020: $327,811Expenses 2020: $523,756Net Income 2020: -$195,9452020Revenue 2021: $342,536Expenses 2021: $532,684Net Income 2021: -$190,1482021Revenue 2022: $360,570Expenses 2022: $673,995Net Income 2022: -$313,4252022Revenue 2023: $400,925Expenses 2023: $599,837Net Income 2023: -$198,9122023Revenue 2024: $350,208Expenses 2024: $578,463Net Income 2024: -$228,2552024

Highlighted filing

2020

Revenue$327,811
Expenses$523,756
Net Income-$195,945
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 2, 2021
Return Version
2020v4.1
Gross Receipts
$327,811
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,255,822$6,127,405▼ $128,417
Accounts Receivable$28,117$40,469▲ $12,352
Cash and Non-Interest-Bearing Accounts$51,742$14,473▼ $37,269
Prepaid Expenses and Deferred Charges$1,796$1,691▼ $105
Total Assets$6,389,166$6,264,401▼ $124,765
Other Assets Total$51,689$80,363▲ $28,674
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,404,743$5,382,507▼ $22,236
Other Liabilities$1,011,079$1,050,590▲ $39,511
Accounts Payable and Accrued Expenses$55,084$105,207▲ $50,123
Deferred Revenue$669$4,451▲ $3,782
Total Liabilities$6,471,575$6,542,755▲ $71,180
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-82,409$-278,354▼ $195,945
Total Net Assets Fund Balance$-82,409$-278,354▼ $195,945
Total Liabilities and Net Assets / Fund Balance$6,389,166$6,264,401▼ $124,765

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,797,409$332,805$6,130,214
Land$329,996-$329,996
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Julia BoydPresident
Dorothy AmadiSecretary
Natalie BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$327,811
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-195,945

Audited Revenue Reconciliation

Revenue per Audited Statements
$327,811
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2
Total Revenue per Audited Statements
$327,813
Total Revenue per Form 990
$327,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$523,756
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$163,814--$163,814
Interest$126,182--$126,182
Occupancy$98,383--$98,383
Fees for Services Management$27,066$18,393-$45,459
Insurance$21,049--$21,049
Fees for Services Accounting-$14,655-$14,655
Office Expenses$4,663--$4,663
Fees for Services Legal$3,617--$3,617
Other Expenses$2,942--$2,942
Fees for Services Other$2,822--$2,822
Total Functional Expenses$490,708$33,048$0$523,756

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$523,758
Expenses per Audited Statements$523,756
Total Expenses per Form 990$523,756
Expenses Not Reported on Form 990$2
Expenses Not Reported on Financial Statements$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
Due to Affiliates$762,795
Development Fees$265,494
Security Deposits$22,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
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 commitees.”

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 design a ted 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 2012 Ii Housing Development Fund
EIN
45-5133701
Phone
7182468080
Address
470 VANDERBILT AVE 9TH FLOOR, BROOKLYN, NY 11238

Signing Officer

Name
Ismene Speliotis
Title
Executive Director
Phone
7182468080
Signed
2021-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ismene Speliotis
Formed
2012
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

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

Financial Statement Notes

PART X, LINE 2:

“The organization has applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501(c)(3) of the internalrevenue code and did not have any unrelated business income for the year ended december 31, 2020 and the period july 1, 2019 through december 31, 2019. Due to its tax-exempt status, thecorporation is not subject to income taxes. The corporation is required to file and does file informational returns with the irs and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the corporation has no other taxpositions which must be considered for disclosure. Informational returns filed by the corporation are subject to examination by the irs for a period of three years. Although the corporation was formed in 2012, it remained inactive until 2018. No informational returns are currently being examined by the irs.”

Raw XML AppendixShowing 400 of 896 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/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNALREVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 AND THE PERIOD JULY 1, 2019 THROUGH DECEMBER 31, 2019. DUE TO ITS TAX-EXEMPT STATUS, THECORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE INFORMATIONAL RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAXPOSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INFORMATIONAL RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. ALTHOUGH THE CORPORATION WAS FORMED IN 2012, IT REMAINED INACTIVE UNTIL 2018. NO INFORMATIONAL RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS.
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0327813
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0523758
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES ALL MANAGEMENT RESPONSIBILITIES TO MHANY MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION DOES NOT HAVE COMMITEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 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 DESIGN A TED 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/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
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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/EntityTypeTxt11C
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt16C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt17C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd6NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd9NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd10NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt16INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt17INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt01825 ATLANTIC MHANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1730 ROCKAWAY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2830 FOX STREET HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3ACORN STRAIGHT APARTMENTS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4ACORN BRISTOL HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5MHANY 2007 HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6MHANY 2013 HOLDINGS HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7MHANY 2015 HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8MHANY 2015 MANAGER INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt9MHANY 3 INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt10MHANY 4 INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt11MHANY 5 INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt12MHANY BRITSOL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt13MHANY CORTELYOU HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt14PE2 HDFC

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,264,401
Liabilities
$6,542,755
Net assets
-$278,354
Revenue
$327,811
Expenses
$523,756
Net income
-$195,945
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.78$6.99$1.21$0.35$0.58$0.23
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.82$6.80$0.98$0.40$0.60$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.98$6.76$0.78$0.36$0.67$0.31
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.14$6.61$0.47$0.34$0.53$0.19
2020Detailed filing. Detailed filing data is available for this year.$6.26$6.54$0.28$0.33$0.52$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.56$6.54$0.02$0.19$0.41$0.22