Civic Intelligence

Nelson Luquer Housing Development Fund Corporation

990 • Fiscal year 2016 • EIN 46-4061174

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

Organization ProfileNONE
201 Columbia StBrooklyn, NY 11231

(718) 240-4111

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.11x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

10.75x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

8th percentile

-42%

Higher net margin than 8% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

35th percentile

-2.1%

Faster asset growth than 35% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

28th percentile

-6.2%

Faster revenue growth than 28% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$3,070,974

Down $64,427 (-2.1%) from 2015

Net Assets

Down

-$334,283

Down $153,393 (-85%) from 2015

Liabilities

Up

$3,405,257

Up $88,966 (+2.7%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin8th percentile

Revenue

Down

$316,862

Down $20,947 (-6.2%) from 2015

Expenses

Down

$450,427

Down $68,272 (-13%) from 2015

Net Income

Up

-$133,565

Up $47,325 (+26%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2015: $3,135,401Liabilities 2015: $3,316,291Net Assets 2015: -$180,8902015Assets 2016: $3,070,974Liabilities 2016: $3,405,257Net Assets 2016: -$334,2832016Assets 2017: $2,941,338Liabilities 2017: $3,393,232Net Assets 2017: -$451,8942017Assets 2018: $2,848,505Liabilities 2018: $3,437,125Net Assets 2018: -$588,6202018Assets 2019: $2,753,980Liabilities 2019: $3,490,017Net Assets 2019: -$736,0372019Assets 2020: $2,767,482Liabilities 2020: $3,582,409Net Assets 2020: -$814,9272020Assets 2021: $2,652,764Liabilities 2021: $3,577,846Net Assets 2021: -$925,0822021Assets 2022: $2,607,114Liabilities 2022: $3,654,658Net Assets 2022: -$1,047,5442022Assets 2023: $2,598,032Liabilities 2023: $3,798,458Net Assets 2023: -$1,200,4262023Assets 2024: $2,458,446Liabilities 2024: $3,739,107Net Assets 2024: -$1,280,6612024

Highlighted filing

2016

Assets$3,070,974
Liabilities$3,405,257
Net Assets-$334,283
Open 2016 Filing

Operations Trend

Revenue Growth28th percentile

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

$600K$400K$200K$0-$200KRevenue 2015: $337,809Expenses 2015: $518,699Net Income 2015: -$180,8902015Revenue 2016: $316,862Expenses 2016: $450,427Net Income 2016: -$133,5652016Revenue 2017: $303,937Expenses 2017: $421,549Net Income 2017: -$117,6122017Revenue 2018: $378,191Expenses 2018: $514,917Net Income 2018: -$136,7262018Revenue 2019: $420,382Expenses 2019: $567,795Net Income 2019: -$147,4132019Revenue 2020: $437,589Expenses 2020: $516,478Net Income 2020: -$78,8892020Revenue 2021: $435,367Expenses 2021: $545,522Net Income 2021: -$110,1552021Revenue 2022: $458,750Expenses 2022: $581,212Net Income 2022: -$122,4622022Revenue 2023: $434,739Expenses 2023: $587,621Net Income 2023: -$152,8822023Revenue 2024: $406,754Expenses 2024: $486,989Net Income 2024: -$80,2352024

Highlighted filing

2016

Revenue$316,862
Expenses$450,427
Net Income-$133,565
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$316,862
Mission and Program Overview

Mission

The hdfc was organized to acquire, rehabilitate, maintain and operate six low-income buildings, with 44 units located in brooklyn, new york. The housing units are operated for persons of low-income within the meaning of article xi of the private housing finance law.

Nelson luquer housing development fund corporation (hdfc) acquired and rehabilitated five low-income housing buildings located in brooklyn. These buildings have in total 44 units rented to eligible tenants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,334,928$2,264,276▼ $70,652
Cash and Non-Interest-Bearing Accounts$11,498$110,933▲ $99,435
Accounts Receivable$33,849$23,005▼ $10,844
Prepaid Expenses and Deferred Charges$11,386$10,661▼ $725
Total Assets$3,135,401$3,070,974▼ $64,427
Other Assets Total$743,740$662,098▼ $81,642
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,259,077$3,259,077→ $0
Accounts Payable and Accrued Expenses$9,475$124,334▲ $114,859
Other Liabilities$47,739$21,846▼ $25,893
Total Liabilities$3,316,291$3,405,257▲ $88,966
Net Assets / Fund Balance
Unrestricted Net Assets$-180,890$-334,283▼ $153,393
Total Net Assets Fund Balance$-180,890$-334,283▼ $153,393
Total Liabilities and Net Assets / Fund Balance$3,135,401$3,070,974▼ $64,427

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,241,179$293,100$2,534,279
Equipment$23,091$2,183$25,274
Land$6-$6
Other Assets Org$23,020--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Vilma HeramiaExecutive Director$75,000$75,000

Board Members and Trustees

NameTitle
Cynthia GonzalesPresident
Michael BrownVice-president
Patricia RuizTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$306,926
Investment Income
$9,936
Other Revenue
$0
Change in Net Assets
$-133,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$399,095
Salaries, Compensation, and Employee Benefits$51,332
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$148,733--$148,733
Fees for Services Management-$63,997-$63,997
Other Salaries and Wages$28,101$19,293-$47,394
Insurance$43,426--$43,426
Other Expenses$31,756--$31,756
Office Expenses-$14,173-$14,173
Fees for Services Accounting-$9,000-$9,000
Fees for Services Legal$8,770--$8,770
Payroll Taxes$2,939$999-$3,938
Interest$1,242--$1,242
Fees for Services Other$214--$214
Total Functional Expenses$342,965$107,462$0$450,427
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$21,846
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The board has engaged grenadier realty corporation to provide management services of its rental property. The management company reports to the board on a monthly basis.”

Form 990, Part VI, Section B, line 11

“The draft is reviewed by management and then provided to the board members for review, comments and approval for filing.”

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

“The board members are required to complete a disclosure of any conflict of interest or potentially a conflict of interest. If any, the board member will be recused from participating in discussions and voting on matters related to conflict.”

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

“Compensation of key employees will be reviewed and approved by the board based on available compensation data of similar size organizations in the area.”

Form 990, Part VI, Section C, line 18

“The hdfc's form 990 is available at www.guidestar.org.”

Form 990, Part VI, Section C, line 19

“The hdfc's form 990 is available at www.guidestar.org. The governing documents, conflict of interest policy, and financial statements are available to the public upon written request to the managing agent, grenadier realty corporation located at 1230 pennsylvania avenue, brooklyn, ny 11239.”

Filing and Contact Details

Filer

Filer Name
Nelson Luquer Housing Development
EIN
46-4061174
Phone
7182404111
Address
201 COLUMBIA ST, BROOKLYN, NY 11231

Signing Officer

Name
Vilma Heramia
Title
Executive Director
Phone
7182404111
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vilma Heramia
Formed
2014
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Galleros Koh Llp
Address
115 DAVIS STATION ROAD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros CPA
Phone
7324622020
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, Line 2C

“The board is responsible for the appointment of the independent auditor. The result of the audit is presented to the board once completed. This process has not changed since prior year.”

Financial Statement Notes

Part X, Line 2:

“The HDFC recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to audits by the applicable taxing jurisdictions for years prior to 2013.”

Raw XML Appendix351 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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IRS990/ActivityOrMissionDesc0NELSON LUQUER HOUSING DEVELOPMENT FUND CORPORATION (HDFC) ACQUIRED AND REHABILITATED FIVE LOW-INCOME HOUSING BUILDINGS LOCATED IN BROOKLYN. THESE BUILDINGS HAVE IN TOTAL 44 UNITS RENTED TO ELIGIBLE TENANTS.
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IRS990/Desc0On September 29, 2014, the six buildings, with 44 units were transfered to Nelson Luquer Housing Development Fund Corporation for the continuing purpose of rehabilitating and operating the rental units for eligible low-income occupants. The rehabilitation and weatherization project was completed in 2015.
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IRS990/MissionDesc0THE HDFC WAS ORGANIZED TO ACQUIRE, REHABILITATE, MAINTAIN AND OPERATE SIX LOW-INCOME BUILDINGS, WITH 44 UNITS LOCATED IN BROOKLYN, NEW YORK. THE HOUSING UNITS ARE OPERATED FOR PERSONS OF LOW-INCOME WITHIN THE MEANING OF ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The HDFC recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to audits by the applicable taxing jurisdictions for years prior to 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD HAS ENGAGED GRENADIER REALTY CORPORATION TO PROVIDE MANAGEMENT SERVICES OF ITS RENTAL PROPERTY. THE MANAGEMENT COMPANY REPORTS TO THE BOARD ON A MONTHLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT IS REVIEWED BY MANAGEMENT AND THEN PROVIDED TO THE BOARD MEMBERS FOR REVIEW, COMMENTS AND APPROVAL FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A DISCLOSURE OF ANY CONFLICT OF INTEREST OR POTENTIALLY A CONFLICT OF INTEREST. IF ANY, THE BOARD MEMBER WILL BE RECUSED FROM PARTICIPATING IN DISCUSSIONS AND VOTING ON MATTERS RELATED TO CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF KEY EMPLOYEES WILL BE REVIEWED AND APPROVED BY THE BOARD BASED ON AVAILABLE COMPENSATION DATA OF SIMILAR SIZE ORGANIZATIONS IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE HDFC'S FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE HDFC'S FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE MANAGING AGENT, GRENADIER REALTY CORPORATION LOCATED AT 1230 PENNSYLVANIA AVENUE, BROOKLYN, NY 11239.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD IS RESPONSIBLE FOR THE APPOINTMENT OF THE INDEPENDENT AUDITOR. THE RESULT OF THE AUDIT IS PRESENTED TO THE BOARD ONCE COMPLETED. THIS PROCESS HAS NOT CHANGED SINCE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, Line 2c
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03135401
IRS990/TotalAssetsEOYAmt03070974
IRS990/TotalAssetsGrp/BOYAmt03135401
IRS990/TotalAssetsGrp/EOYAmt03070974
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0107462
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0342965
IRS990/TotalFunctionalExpensesGrp/TotalAmt0450427
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03316291
IRS990/TotalLiabilitiesEOYAmt03405257
IRS990/TotalLiabilitiesGrp/BOYAmt03316291
IRS990/TotalLiabilitiesGrp/EOYAmt03405257
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-180890
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-334283
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0342965
IRS990/TotalProgramServiceRevenueAmt0306926
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0316862
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0316862
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03135401
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03070974
IRS990/TotReportableCompRltdOrgAmt075000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-180890
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-334283
IRS990/USAddress/AddressLine1Txt0201 COLUMBIA ST
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011231
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VILMA HERAMIA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07182404111
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NELSON LUQUER HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0NELS
ReturnHeader/Filer/EIN0464061174
ReturnHeader/Filer/PhoneNum07182404111
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 COLUMBIA ST
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011231
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273263553
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GALLEROS KOH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 DAVIS STATION ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CREAM RIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008514
ReturnHeader/PreparerPersonGrp/PhoneNum07324622020
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONORA GALLEROS CPA
ReturnHeader/ReturnTs02017-05-15T20:04:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,070,974
Liabilities
$3,405,257
Net assets
-$334,283
Revenue
$316,862
Expenses
$450,427
Net income
-$133,565
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.46$3.74$1.28$0.41$0.49$0.08
2023Summary only. Only limited summary data is available for this year.$2.60$3.80$1.20$0.43$0.59$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$3.65$1.05$0.46$0.58$0.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.65$3.58$0.93$0.44$0.55$0.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$3.58$0.81$0.44$0.52$0.08
2019Summary only. Only limited summary data is available for this year.$2.75$3.49$0.74$0.42$0.57$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.85$3.44$0.59$0.38$0.51$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.94$3.39$0.45$0.30$0.42$0.12
2016Detailed filing. Detailed filing data is available for this year.$3.07$3.41$0.33$0.32$0.45$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.14$3.32$0.18$0.34$0.52$0.18