Civic Intelligence

Nelson Luquer Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 46-4061174

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 15, 2020

Organization ProfileNONE
201 Columbia StBrooklyn, NY 11231

(718) 240-4111

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$2,753,980

Flat from 2019

Net Assets

Flat

-$736,037

Flat from 2019

Liabilities

Flat

$3,490,017

Flat from 2019

Revenue And Expenses

Revenue

Flat

$420,382

Flat from 2019

Expenses

Flat

$567,795

Flat from 2019

Net Income

Flat

-$147,413

Flat from 2019

Historical Trend

Balance Sheet Trend

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 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

2019

Assets$2,753,980
Liabilities$3,490,017
Net Assets-$736,037
Open 2019 Filing

Operations Trend

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 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

2019

Revenue$420,382
Expenses$567,795
Net Income-$147,413
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 15, 2020
Return Version
2018v3.2
Gross Receipts
$420,382
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$2,107,972$2,008,583▼ $99,389
Accounts Receivable$20,272$46,167▲ $25,895
Cash and Non-Interest-Bearing Accounts$26,841$19,819▼ $7,022
Prepaid Expenses and Deferred Charges$11,781$9,183▼ $2,598
Total Assets$2,848,505$2,753,980▼ $94,525
Other Assets Total$681,639$670,228▼ $11,411
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,259,077$3,259,077→ $0
Accounts Payable and Accrued Expenses$153,290$205,892▲ $52,602
Other Liabilities$24,758$25,048▲ $290
Total Liabilities$3,437,125$3,490,017▲ $52,892
Net Assets / Fund Balance
Unrestricted Net Assets$-588,620$-736,037▼ $147,417
Total Net Assets Fund Balance$-588,620$-736,037▼ $147,417
Total Liabilities and Net Assets / Fund Balance$2,848,505$2,753,980▼ $94,525

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,008,577$598,808$2,607,385
Land$6-$6
Other Assets Org$25,048--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Vilma HeramiaExecutive Director$93,875$93,875

Board Members and Trustees

NameTitle
Cynthia GonzalezPresident
Benjamin M LevineVice President
Victor J PapaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$420,342
Investment Income
$0
Other Revenue
$40
Change in Net Assets
$-147,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$483,717
Salaries, Compensation, and Employee Benefits$84,078
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$102,198--$102,198
Fees for Services Management-$89,991-$89,991
Other Salaries and Wages$39,150$36,272-$75,422
Occupancy$70,018--$70,018
Insurance$46,933--$46,933
Other Expenses$28,495$23,305-$23,305
Fees for Services Accounting-$9,000-$9,000
Office Expenses-$8,930-$8,930
Payroll Taxes$4,926$3,730-$8,656
Fees for Services Legal$2,755--$2,755
Fees for Services Other-$100-$100
Total Functional Expenses$396,467$171,328$0$567,795
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
Tenant Security Deposits$25,048
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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 11B

“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
2020-07-15

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 Robinson Cpas Llp
Address
115 DAVIS STATION ROAD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
7329252608
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

“This process has not changed from 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 2016.”

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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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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 2016.
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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/ExplanationTxt6THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
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 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/FormAndLineReferenceDesc6PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02848505
IRS990/TotalAssetsEOYAmt02753980
IRS990/TotalAssetsGrp/BOYAmt02848505
IRS990/TotalAssetsGrp/EOYAmt02753980
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0171328
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0396467
IRS990/TotalFunctionalExpensesGrp/TotalAmt0567795
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03437125
IRS990/TotalLiabilitiesEOYAmt03490017
IRS990/TotalLiabilitiesGrp/BOYAmt03437125
IRS990/TotalLiabilitiesGrp/EOYAmt03490017
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-588620
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-736037
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0396467
IRS990/TotalProgramServiceRevenueAmt0420342
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0420382
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0420382
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02848505
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02753980
IRS990/TotReportableCompRltdOrgAmt093875
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-588620
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-736037
IRS990/USAddress/AddressLine1Txt0201 COLUMBIA ST
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011231
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0VILMA HERAMIA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07182404111
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-15
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/FilingSecurityInformation/AtSubmissionCreationDeviceId07E530C01EC0DBF1FFF79A5BAD1379F9D370DED1E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AA058A60AC9F5E88D41A0CB70930D3D44BEAD312
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.110.17.47
ReturnHeader/FilingSecurityInformation/IPDt02020-07-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm020:21:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273263553
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GALLEROS ROBINSON CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 DAVIS STATION ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CREAM RIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008514
ReturnHeader/PreparerPersonGrp/PhoneNum07329252608
ReturnHeader/PreparerPersonGrp/PreparationDt02020-07-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONORA GALLEROS
ReturnHeader/ReturnTs02020-07-15T20:22:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,753,980
Liabilities
$3,490,017
Net assets
-$736,037
Revenue
$420,382
Expenses
$567,795
Net income
-$147,413
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
2019Detailed filing. Detailed filing data is available for this year.$2.75$3.49$0.74$0.42$0.57$0.15
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