Civic Intelligence

Nelson Luquer Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 46-4061174

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileNONE
201 Columbia StBrooklyn, NY 11231

(718) 240-4111

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$2,598,032

Flat from 2023

Net Assets

Flat

-$1,200,426

Flat from 2023

Liabilities

Flat

$3,798,458

Flat from 2023

Revenue And Expenses

Revenue

Flat

$434,739

Flat from 2023

Expenses

Flat

$587,621

Flat from 2023

Net Income

Flat

-$152,882

Flat from 2023

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 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 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

2023

Assets$2,598,032
Liabilities$3,798,458
Net Assets-$1,200,426
Open 2023 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 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 2023: $434,739Expenses 2023: $587,621Net Income 2023: -$152,8822023Revenue 2024: $406,754Expenses 2024: $486,989Net Income 2024: -$80,2352024

Highlighted filing

2023

Revenue$434,739
Expenses$587,621
Net Income-$152,882
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$434,739
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$1,799,061$1,799,061→ $0
Accounts Receivable$161,655$271,151▲ $109,496
Cash and Non-Interest-Bearing Accounts$8,256$19,901▲ $11,645
Prepaid Expenses and Deferred Charges$23,060$16,247▼ $6,813
Total Assets$2,607,114$2,598,032▼ $9,082
Other Assets Total$615,082$491,672▼ $123,410
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,341,007$3,341,007→ $0
Accounts Payable and Accrued Expenses$177,655$321,505▲ $143,850
Other Liabilities$135,996$135,946▼ $50
Total Liabilities$3,654,658$3,798,458▲ $143,800
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,047,544$-1,200,426▼ $152,882
Total Net Assets Fund Balance$-1,047,544$-1,200,426▼ $152,882
Total Liabilities and Net Assets / Fund Balance$2,607,114$2,598,032▼ $9,082

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,799,055$933,804$2,732,859
Land$6-$6
Other Assets Org$25,378--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Cynthia GonzalezPresident
Vilma HeramiaExecutive Di
George FialaTreasurer
Benjamin M LevineVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$434,391
Investment Income
$0
Other Revenue
$348
Change in Net Assets
$-152,882
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$524,015
Salaries, Compensation, and Employee Benefits$63,606
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$162,938--$162,938
Fees for Services Management-$95,799-$95,799
Insurance$66,247--$66,247
Other Salaries and Wages$47,946$8,734-$56,680
Office Expenses$16,583--$16,583
Fees for Services Accounting-$13,208-$13,208
Fees for Services Legal$7,084--$7,084
Payroll Taxes$5,859$1,067-$6,926
Other Expenses$3,868$9-$3,877
Fees for Services Other-$967-$967
Total Functional Expenses$467,837$119,784$0$587,621
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$111,853
Tenant Security Deposits$20,130
Deferred Revenue$3,963
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

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

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 18

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

Form 990, Page 6, Part VI, 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, concord management of ny located at 1328 new york ave, huntington station, ny 11746.”

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
2024-05-15

Organization Details

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

Preparer

Firm
Galleros Robinson
Address
115 DAVIS STATION RD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
6469210400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

Form 990, Part XII

“Form 990, part xii, line 2b - reason for not undergoing audit financial statements for fy 2023 are still in progress.”

Form 990, Page 12, Part XII, Line 2C

“There was no change from prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization recognizes the effect of income tax positions only if those positions are more-likely-than-not be sustained upon examination by taxing authorities. 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 2020.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CAPITAL RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0111853
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120130
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23963
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED REVENUE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. 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 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01799061
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0491672
IRS990ScheduleD/TotalLiabilityAmt0135946
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD HAS ENGAGED CONCORD MANAGEMENT OF NY TO PROVIDE MANAGEMENT SERVICES OF ITS RENTAL PROPERTY. THE MANAGEMENT COMPANY REPORTS TO THE BOARD ON A MONTHLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT IS REVIEWED BY MANAGEMENT AND THEN PROVIDED TO THE BOARD MEMBERS FOR REVIEW, COMMENTS AND APPROVAL FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/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, CONCORD MANAGEMENT OF NY LOCATED AT 1328 NEW YORK AVE, HUNTINGTON STATION, NY 11746.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORM 990, PART XII, LINE 2B - REASON FOR NOT UNDERGOING AUDIT FINANCIAL STATEMENTS FOR FY 2023 ARE STILL IN PROGRESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THERE WAS NO CHANGE FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 12, PART XII, LINE 2C
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SpecialConditionDesc0EXTENDED UNTIL MAY 15 2024
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02607114
IRS990/TotalAssetsEOYAmt02598032
IRS990/TotalAssetsGrp/BOYAmt02607114
IRS990/TotalAssetsGrp/EOYAmt02598032
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0119784
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0467837
IRS990/TotalFunctionalExpensesGrp/TotalAmt0587621
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03654658
IRS990/TotalLiabilitiesEOYAmt03798458
IRS990/TotalLiabilitiesGrp/BOYAmt03654658
IRS990/TotalLiabilitiesGrp/EOYAmt03798458
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1047544
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1200426
IRS990/TotalProgramServiceExpensesAmt0467837
IRS990/TotalProgramServiceRevenueAmt0434391
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0434739
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0434739
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02607114
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02598032
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0VILMA HERAMIA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07182404111
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
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/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273263553
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GALLEROS ROBINSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 DAVIS STATION RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CREAM RIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008514
ReturnHeader/PreparerPersonGrp/PhoneNum06469210400
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONORA GALLEROS
ReturnHeader/ReturnTs02024-05-15T17:53:58-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VILMA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HERAMIA
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,598,032
Liabilities
$3,798,458
Net assets
-$1,200,426
Revenue
$434,739
Expenses
$587,621
Net income
-$152,882
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
2023Detailed filing. Detailed filing data is available for this year.$2.60$3.80$1.20$0.43$0.59$0.15
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