Civic Intelligence

Mhany 2012 II Housing Development Fund Corporation

990 • Fiscal year 2022 • EIN 45-5133701

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

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

75th percentile

1.13x

Higher debt load relative to assets than 75% of similar nonprofits.

2022 filings • NTEE L • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

18.76x

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

2022 filings • NTEE L • $5M-$10M nonprofits • Source year 2022

Net Margin

5th percentile

-87%

Higher net margin than 5% of similar nonprofits.

2022 filings • NTEE L • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2022 filings • NTEE L • $5M-$10M nonprofits • Source year 2022

Asset Growth

40th percentile

-2.6%

Faster asset growth than 40% of similar nonprofits.

2022 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

5.3%

Faster revenue growth than 66% of similar nonprofits.

2022 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$5,981,265

Down $157,577 (-2.6%) from 2021

Net Assets

Down

-$781,927

Down $313,425 (-67%) from 2021

Liabilities

Up

$6,763,192

Up $155,848 (+2.4%) from 2021

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin5th percentile

Revenue

Up

$360,570

Up $18,034 (+5.3%) from 2021

Expenses

Up

$673,995

Up $141,311 (+27%) from 2021

Net Income

Down

-$313,425

Down $123,277 (-65%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2022

Assets$5,981,265
Liabilities$6,763,192
Net Assets-$781,927
Open 2022 Filing

Operations Trend

Revenue Growth66th 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

2022

Revenue$360,570
Expenses$673,995
Net Income-$313,425
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$360,570
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$5,975,052$5,819,383▼ $155,669
Accounts Receivable$36,179$54,770▲ $18,591
Cash and Non-Interest-Bearing Accounts$15,071$31,613▲ $16,542
Prepaid Expenses and Deferred Charges$1,988$2,325▲ $337
Total Assets$6,138,842$5,981,265▼ $157,577
Other Assets Total$110,552$73,174▼ $37,378
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,358,854$5,333,709▼ $25,145
Other Liabilities$1,090,415$1,240,074▲ $149,659
Accounts Payable and Accrued Expenses$131,164$165,032▲ $33,868
Escrow Account Liability$22,318$22,318→ $0
Deferred Revenue$4,593$2,059▼ $2,534
Total Liabilities$6,607,344$6,763,192▲ $155,848
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-468,502$-781,927▼ $313,425
Total Net Assets Fund Balance$-468,502$-781,927▼ $313,425
Total Liabilities and Net Assets / Fund Balance$6,138,842$5,981,265▼ $157,577

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,489,387$654,041$6,143,428
Land$329,996-$329,996
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Dorothy AmadiPresident
Derrick OwensSecretary
Natalie BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$360,555
Investment Income
$0
Other Revenue
$15
Change in Net Assets
$-313,425

Audited Revenue Reconciliation

Revenue per Audited Statements
$360,570
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$360,570
Total Revenue per Form 990
$360,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$673,995
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$164,735--$164,735
Occupancy$161,037--$161,037
Interest$123,273--$123,273
Other Expenses$52,439--$52,439
Fees for Services Management$22,246$20,783-$43,029
Insurance$27,558--$27,558
Fees for Services Accounting-$11,645-$11,645
All Other Expenses$7,803--$7,803
Office Expenses$7,165--$7,165
Fees for Services Other$815--$815
Fees for Services Legal$281--$281
Total Functional Expenses$641,567$32,428$0$673,995

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$673,995
Total Expenses per Audited Statements$673,995
Total Expenses per Form 990$673,995
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
Due to Affiliates$974,580
Development Fees$265,494
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
2023-11-08
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
3

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 IV, LINE 2B:

“The organization maintaines security deposits as required by state law.”

PART X, LINE 2:

“The corporation 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 internal revenue code and did not have any unrelated business income for the years ended december 31, 2022 and 2021. Due to its tax-exempt status, the corporation 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 tax positions 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. While no income tax returns are currently being examined by the internal revenue service, tax years since 2019 remain open.”

Raw XML AppendixShowing 400 of 923 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 MAINTAINES SECURITY DEPOSITS AS REQUIRED BY STATE LAW.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION 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 INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION 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 TAX POSITIONS 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. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2019 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05819383
IRS990ScheduleD/TotalExpensesPerForm990Amt0673995
IRS990ScheduleD/TotalLiabilityAmt01240074
IRS990ScheduleD/TotalRevenuePerForm990Amt0360570
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0360570
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0673995
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
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
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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/DirectControllingNACd18N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0208927666
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1208446679
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd6NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd10NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd11NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd12NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd13NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd14NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd15NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd16NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd17NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd18NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt6AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt7INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt8INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt9INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt10INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt11INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt12INVESTMENT

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,981,265
Liabilities
$6,763,192
Net assets
-$781,927
Revenue
$360,570
Expenses
$673,995
Net income
-$313,425
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
2022Detailed filing. Detailed filing data is available for this year.$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
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$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
Peer Organizations

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