Civic Intelligence

The Wilton Housing Development Fund Corporation

EIN 47-4821442 • 501(c)3 • Bronx, NY

Profile

To provide affordable housing in the bronx of new york

2751 Grand ConcourseBronx, NY 10468

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

57th percentile

0.64x

Higher debt load relative to assets than 57% of similar nonprofits.

NTEE L20 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

2.70x

Higher debt load relative to revenue than 53% of similar nonprofits.

NTEE L20 • $1M-$5M nonprofits • Source year 2024

Net Margin

80th percentile

32%

Higher net margin than 80% of similar nonprofits.

NTEE L20 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

NTEE L20 • $1M-$5M nonprofits • Source year 2024

Asset Growth

83rd percentile

7.0%

Faster asset growth than 83% of similar nonprofits.

NTEE L20 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

3.3%

Faster revenue growth than 45% of similar nonprofits.

NTEE L20 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,112,172

Up $204,727 (+7.0%) from 2023

Liabilities

Down

$2,005,227

Down $30,675 (-1.5%) from 2023

Net Assets

Up

$1,106,945

Up $235,402 (+27%) from 2023

Revenue

Up

$742,685

Up $23,425 (+3.3%) from 2023

Expenses

Down

$507,283

Down $105,427 (-17%) from 2023

Net Income

Up

$235,402

Up $128,852 (+121%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $2,293,828Liabilities 2017: $2,234,191Net Assets 2017: $59,6372017Assets 2018: $2,447,838Liabilities 2018: $2,242,751Net Assets 2018: $205,0872018Assets 2019: $2,548,184Liabilities 2019: $2,191,140Net Assets 2019: $357,0442019Assets 2020: $2,615,783Liabilities 2020: $2,091,430Net Assets 2020: $524,3532020Assets 2021: $2,769,828Liabilities 2021: $2,085,029Net Assets 2021: $684,7992021Assets 2022: $2,837,898Liabilities 2022: $2,072,905Net Assets 2022: $764,9932022Assets 2023: $2,907,445Liabilities 2023: $2,035,902Net Assets 2023: $871,5432023Assets 2024: $3,112,172Liabilities 2024: $2,005,227Net Assets 2024: $1,106,9452024

Highlighted filing

2024

Assets$3,112,172
Liabilities$2,005,227
Net Assets$1,106,945

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0Revenue 2017: $589,296Expenses 2017: $519,136Net Income 2017: $70,1602017Revenue 2018: $632,411Expenses 2018: $484,254Net Income 2018: $148,1572018Revenue 2019: $622,000Expenses 2019: $476,436Net Income 2019: $145,5642019Revenue 2020: $635,745Expenses 2020: $468,436Net Income 2020: $167,3092020Revenue 2021: $676,083Expenses 2021: $515,637Net Income 2021: $160,4462021Revenue 2022: $665,645Expenses 2022: $585,451Net Income 2022: $80,1942022Revenue 2023: $719,260Expenses 2023: $612,710Net Income 2023: $106,5502023Revenue 2024: $742,685Expenses 2024: $507,283Net Income 2024: $235,4022024

Highlighted filing

2024

Revenue$742,685
Expenses$507,283
Net Income$235,402

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$665,645
Mission and Program Overview

Mission

To provide affordable housing in the bronx of new york

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,225,943$1,269,670▲ $43,727
Cash and Non-Interest-Bearing Accounts$442,817$476,147▲ $33,330
Accounts Receivable$189,031$170,712▼ $18,319
Prepaid Expenses and Deferred Charges$53,227$61,074▲ $7,847
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,769,828$2,837,898▲ $68,070
Other Assets Total$858,810$860,295▲ $1,485
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,034,874$2,011,499▼ $23,375
Other Liabilities$31,406$30,799▼ $607
Accounts Payable and Accrued Expenses$8,274$29,446▲ $21,172
Deferred Revenue$10,475$1,161▼ $9,314
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,085,029$2,072,905▼ $12,124
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$684,799$764,993▲ $80,194
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$684,799$764,993▲ $80,194
Total Liabilities and Net Assets / Fund Balance$2,769,828$2,837,898▲ $68,070

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,142,169$209,396$1,351,565
Land$127,501-$127,501
Other Assets Org$71,593--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Henry SchwalbenbergSecretary
Jumelia AbrahamsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$665,345
Investment Income
$0
Other Revenue
$300
Change in Net Assets
$80,194

Audited Revenue Reconciliation

Revenue per Audited Statements
$665,645
Total Revenue per Audited Statements
$665,645
Total Revenue per Form 990
$665,645
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$535,471
Salaries, Compensation, and Employee Benefits$49,980
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$277,376--$277,376
Interest$85,139--$85,139
Fees for Services Management$64,148--$64,148
Insurance$43,162--$43,162
Depreciation Depletion$36,876--$36,876
Other Salaries and Wages$34,821--$34,821
Fees for Services Other-$21,888-$21,888
Other Employee Benefits$11,942--$11,942
Office Expenses$1,028$2,757-$3,785
Payroll Taxes$3,217--$3,217
Fees for Services Legal$3,097--$3,097
Total Functional Expenses$560,806$24,645$0$585,451

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$585,451
Total Expenses per Audited Statements$585,451
Total Expenses per Form 990$585,451
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$30,799
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 8B:

On an annual basis the organization documents meetings and significant transactions in the board of director minutes.

FORM 990,PART VI,SECTION B,LINE 11B:

The board of directors hold an annual meeting in which the outside auditors conduct a presentation and explanation of the audited financial statements and the annual tax returns, as well as a discussion of internal controls.

FORM 990, PART VI, SECTION B, LINE 12C:

The conflict of interest policy is renewed annually with all officers of the organization. Potential conflicts are brought to the executive committee for review and officers found to have conflict of interest are asked to resign or abstain from involvement in all related projects.

Form 990, Part VI, Section B, Line 15

Currently the organization does not have any key employees but for the future decisions regarding compensation is based on the recommendations of an independent committee that considers performance, scope of responsibilities and salary compensation for similar positions. Final approval of salary compensation must be approved by the entire board of directors. Currently the organization does not have a ceo, executive director or top management official. All future compensation-related decisions are based on the recommendations of an independent committee that considers performance, scope of responsibility and remuneration for similar positions. Final approval for ceo compensation must be approved by the entire board of directors.

FORM 990, PART VI, SECTION C, LINE 19:

After approval of the financial statements by the board of directors on an annual basis, the organization makes available all governance documents, policy statements, financial statements and tax returns to the public upon written request. The organization also timely files its annual new york state char 500 report with the new york state attorney general. All of its filings are available through the nysoag charities website.

Filing and Contact Details

Filer

Filer Name
The Wilton Housing Development Fund
EIN
47-4821442
In Care Of
% JOHANNA KLETTER
Phone
7189333101
Address
2751 Grand Concourse, Bronx, NY 10468

Signing Officer

Name
Jumelia Abrahamson
Title
Treasurer
Phone
7189333101
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jumelia Abrahamson
Formed
2016
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Joseph Perez
Phone
7328281614
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Management and board of directors is responsible for oversight of the audit and selection of an independent accountant.

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

The Organization has tax-exempt status under Section 501(c)(3) of the IRC and is exempt from federal income taxes on related income pursuant to Section 101(a) of the IRC. Being a nonstock Organization not organized for profit, the Organization is exempt from New York State and New York City franchise taxes. GAAP requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Organization's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. The Organization's federal and state tax returns for the fiscal years after 2019 remain subject to examination by the relevant taxing authorities. Further, there are no income tax related penalties and interest reflected in these financial statements.

Raw XML AppendixShowing 400 of 545 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/OtherAssetsOrgGrp/BookValueAmt471593
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DEFERRED RENT RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization has tax-exempt status under Section 501(c)(3) of the IRC and is exempt from federal income taxes on related income pursuant to Section 101(a) of the IRC. Being a nonstock Organization not organized for profit, the Organization is exempt from New York State and New York City franchise taxes. GAAP requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Organization's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. The Organization's federal and state tax returns for the fiscal years after 2019 remain subject to examination by the relevant taxing authorities. Further, there are no income tax related penalties and interest reflected in these financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE D, PART X, LINE 2
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0860295
IRS990ScheduleD/TotalExpensesPerForm990Amt0585451
IRS990ScheduleD/TotalLiabilityAmt030799
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ON AN ANNUAL BASIS THE ORGANIZATION DOCUMENTS MEETINGS AND SIGNIFICANT TRANSACTIONS IN THE BOARD OF DIRECTOR MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS HOLD AN ANNUAL MEETING IN WHICH THE OUTSIDE AUDITORS CONDUCT A PRESENTATION AND EXPLANATION OF THE AUDITED FINANCIAL STATEMENTS AND THE ANNUAL TAX RETURNS, AS WELL AS A DISCUSSION OF INTERNAL CONTROLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS RENEWED ANNUALLY WITH ALL OFFICERS OF THE ORGANIZATION. POTENTIAL CONFLICTS ARE BROUGHT TO THE EXECUTIVE COMMITTEE FOR REVIEW AND OFFICERS FOUND TO HAVE CONFLICT OF INTEREST ARE ASKED TO RESIGN OR ABSTAIN FROM INVOLVEMENT IN ALL RELATED PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CURRENTLY THE ORGANIZATION DOES NOT HAVE ANY KEY EMPLOYEES BUT FOR THE FUTURE DECISIONS REGARDING COMPENSATION IS BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBILITIES AND SALARY COMPENSATION FOR SIMILAR POSITIONS. FINAL APPROVAL OF SALARY COMPENSATION MUST BE APPROVED BY THE ENTIRE BOARD OF DIRECTORS. CURRENTLY THE ORGANIZATION DOES NOT HAVE A CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT OFFICIAL. ALL FUTURE COMPENSATION-RELATED DECISIONS ARE BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBILITY AND REMUNERATION FOR SIMILAR POSITIONS. FINAL APPROVAL FOR CEO COMPENSATION MUST BE APPROVED BY THE ENTIRE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AFTER APPROVAL OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS, THE ORGANIZATION MAKES AVAILABLE ALL GOVERNANCE DOCUMENTS, POLICY STATEMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC UPON WRITTEN REQUEST. THE ORGANIZATION ALSO TIMELY FILES ITS ANNUAL NEW YORK STATE CHAR 500 REPORT WITH THE NEW YORK STATE ATTORNEY GENERAL. ALL OF ITS FILINGS ARE AVAILABLE THROUGH THE NYSOAG CHARITIES WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANAGEMENT AND BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B:
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0ROSEHILL SENIOR APTS INC
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