Civic Intelligence

Webster Park Avenue Hdfc

990 • Fiscal year 2020 • EIN 75-3213736

Jan 01, 2020 to Dec 31, 2020 • Filed on Dec 24, 2021

Organization ProfileWWW.BELMONTLDC.COM
660 East 183rd StreetBronx, NY 10458

(718) 295-2882

Siviq Scores

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

Liabilities / Assets

96th percentile

1.42x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

11.47x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

17th percentile

-4.3%

Faster asset growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

51st percentile

1.5%

Faster revenue growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$3,696,056

Down $164,062 (-4.3%) from 2019

Net Assets

Down

-$1,536,257

Down $144,181 (-10%) from 2019

Liabilities

Down

$5,232,313

Down $19,881 (-0.4%) from 2019

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin11th percentile

Revenue

Up

$456,050

Up $6,735 (+1.5%) from 2019

Expenses

Down

$600,231

Down $14,202 (-2.3%) from 2019

Net Income

Up

-$144,181

Up $20,937 (+13%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $5,420,839Liabilities 2011: $5,443,229Net Assets 2011: -$22,3902011Assets 2012: $5,246,791Liabilities 2012: $5,427,023Net Assets 2012: -$180,2322012Assets 2013: $5,032,685Liabilities 2013: $5,384,432Net Assets 2013: -$351,7472013Assets 2014: $4,813,230Liabilities 2014: $5,341,995Net Assets 2014: -$528,7652014Assets 2015: $4,588,360Liabilities 2015: $5,305,342Net Assets 2015: -$716,9822015Assets 2016: $4,385,628Liabilities 2016: $5,276,823Net Assets 2016: -$891,1952016Assets 2017: $4,189,732Liabilities 2017: $5,254,564Net Assets 2017: -$1,064,8322017Assets 2018: $4,052,662Liabilities 2018: $5,279,620Net Assets 2018: -$1,226,9582018Assets 2019: $3,860,118Liabilities 2019: $5,252,194Net Assets 2019: -$1,392,0762019Assets 2020: $3,696,056Liabilities 2020: $5,232,313Net Assets 2020: -$1,536,2572020Assets 2021: $3,491,284Liabilities 2021: $5,202,026Net Assets 2021: -$1,710,7422021Assets 2022: $3,382,344Liabilities 2022: $5,294,478Net Assets 2022: -$1,912,1342022Assets 2023: $3,231,886Liabilities 2023: $5,082,586Net Assets 2023: -$1,850,7002023Assets 2024: $3,118,880Liabilities 2024: $5,071,915Net Assets 2024: -$1,953,0352024

Highlighted filing

2020

Assets$3,696,056
Liabilities$5,232,313
Net Assets-$1,536,257
Open 2020 Filing

Operations Trend

Revenue Growth51st percentile

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

$1.0M$500K$0-$500KRevenue 2011: $354,950Expenses 2011: $512,982Net Income 2011: -$158,0322011Revenue 2012: $377,522Expenses 2012: $535,364Net Income 2012: -$157,8422012Revenue 2013: $378,778Expenses 2013: $517,782Net Income 2013: -$139,0042013Revenue 2014: $399,991Expenses 2014: $577,009Net Income 2014: -$177,0182014Revenue 2015: $406,312Expenses 2015: $594,529Net Income 2015: -$188,2172015Revenue 2016: $393,427Expenses 2016: $567,640Net Income 2016: -$174,2132016Revenue 2017: $420,496Expenses 2017: $594,133Net Income 2017: -$173,6372017Revenue 2018: $454,185Expenses 2018: $616,311Net Income 2018: -$162,1262018Revenue 2019: $449,315Expenses 2019: $614,433Net Income 2019: -$165,1182019Revenue 2020: $456,050Expenses 2020: $600,231Net Income 2020: -$144,1812020Revenue 2021: $457,944Expenses 2021: $632,429Net Income 2021: -$174,4852021Revenue 2022: $469,154Expenses 2022: $670,546Net Income 2022: -$201,3922022Revenue 2023: $466,617Expenses 2023: $405,183Net Income 2023: $61,4342023Revenue 2024: $482,850Expenses 2024: $585,185Net Income 2024: -$102,3352024

Highlighted filing

2020

Revenue$456,050
Expenses$600,231
Net Income-$144,181
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 24, 2021
Return Version
2020v4.1
Gross Receipts
$456,050
Mission and Program Overview

Mission

To provide low income to moderate income housing opportunities for the community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,680,609$3,499,527▼ $181,082
Savings and Temporary Cash Investments-$53,152-
Accounts Receivable$32,887$34,630▲ $1,743
Prepaid Expenses and Deferred Charges$26,445$28,381▲ $1,936
Cash and Non-Interest-Bearing Accounts$964$7,002▲ $6,038
Total Assets$3,860,118$3,696,056▼ $164,062
Other Assets Total$119,213$73,364▼ $45,849
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,086,595$5,044,261▼ $42,334
Accounts Payable and Accrued Expenses$103,953$119,312▲ $15,359
Other Liabilities$61,646$68,740▲ $7,094
Total Liabilities$5,252,194$5,232,313▼ $19,881
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,392,076$-1,536,257▼ $144,181
Total Net Assets Fund Balance$-1,392,076$-1,536,257▼ $144,181
Total Liabilities and Net Assets / Fund Balance$3,860,118$3,696,056▼ $164,062

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,424,527$2,228,920$5,653,447
Land$75,000-$75,000
Other Assets Org$34,509--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Consolato CicciuPresident
Paul FracassiVice President
Cecilia FerroSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$455,136
Investment Income
$914
Other Revenue
$0
Change in Net Assets
$-144,181

Audited Revenue Reconciliation

Revenue per Audited Statements
$456,050
Total Revenue per Audited Statements
$456,050
Total Revenue per Form 990
$456,050
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$600,231
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-$214,470-$214,470
Other Expenses$175,375--$175,375
Interest-$57,566-$57,566
Fees for Services Management-$35,609-$35,609
Insurance$17,134--$17,134
Fees for Services Legal-$12,072-$12,072
Office Expenses-$4,838-$4,838
Fees for Services Accounting-$3,864-$3,864
Information Technology-$2,218-$2,218
Advertising-$284-$284
Total Functional Expenses$269,310$330,921$0$600,231

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$600,231
Total Expenses per Audited Statements$600,231
Total Expenses per Form 990$600,231
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Bel-art EnterprisesCommon PartnershipProvides Building Repairs and MaintenanceNo$133,388
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$38,855
Rental Overpayments$19,885
Due to Sponsor$10,000
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 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Yes, the following officers have a family relationship with each other. Consolato cicciu, president, is brother to cecilia ferro, secretary.”

Members or stockholder classes and rights Part VI line 6

“Yes, the organization includes members only”

Member election for additional members Part VI line 7A

“Yes, the organization contains a board of directors that may elect one or more governing bodies”

Governing body decisions Part VI line 7B

“Yes, via a board meeting the decisions of the governing body are subject to approval by its members.”

Form 990 governing body review Part VI line 11

“The organization reviews the form 990 diligently updating any information that has changed from the prior years by holding a meeting between the controller of the company along with president and secretary. All procedures and policies are reviewed and discussed in its entirety.”

Conflict of interest policy compliance Part VI line 12C

“The organization regularly and consistently monitor and enforce compliance with its conflicts of interest policy by reviewing the working relationship of the hdfc to coincide with the projects rules and regulations mandated by hpd and other specialized programs that the hdfc are involved with on ongoing basis”

CEO executive director top management comp Part VI line 15A

“There is no compensation paid directly from this hdfc to anyone listed on the board of directors, nor the organizations key employees or top management. Any compensation paid is done so via the sponsor, which collects the management fees from this entity”

Other officer or key employee compensation Part VI line 15B

“N/a; there is no compensation paid directly from this hdfc to anyone listed on the board of directors, nor the organizations key employees or top management. Any compensation paid is done so via the sponsor, which collects the management fees from this entity”

Governing documents etc available to public Part VI line 19

“The organization makes its governing documents,conflict of interest policies and financial statements available to the public via a scheduled meeting of the board of directors and also upon request.”

Filing and Contact Details

Filer

Filer Name
Webster Park Avenue Hdfc
EIN
75-3213736
Address
660 EAST 183RD STREET, BRONX, NY 10458

Signing Officer

Name
Consolato Cicciu
Title
President
Phone
7183675300
Signed
2021-12-24
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0

Preparer

Firm
Luigi LaVerghetta CPA PC
Address
75 South Broadway -Suite 434, White Plains, NY 10601
Preparer
Luigi LaVerghetta
Phone
9148743409
Raw XML Appendix381 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/BookValueAmt134509
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO SPONSOR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2RENTAL OVERPAYMENTS
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt073364
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IRS990ScheduleD/TotalRevenuePerForm990Amt0456050
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0BEL-ART ENTERPRISES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0COMMON PARTNERSHIP
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROVIDES BUILDING REPAIRS AND MAINTENANCE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0YES, THE FOLLOWING OFFICERS HAVE A FAMILY RELATIONSHIP WITH EACH OTHER. CONSOLATO CICCIU, PRESIDENT, IS BROTHER TO CECILIA FERRO, SECRETARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES, THE ORGANIZATION INCLUDES MEMBERS ONLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES, THE ORGANIZATION CONTAINS A BOARD OF DIRECTORS THAT MAY ELECT ONE OR MORE GOVERNING BODIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES, VIA A BOARD MEETING THE DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS THE FORM 990 DILIGENTLY UPDATING ANY INFORMATION THAT HAS CHANGED FROM THE PRIOR YEARS BY HOLDING A MEETING BETWEEN THE CONTROLLER OF THE COMPANY ALONG WITH PRESIDENT AND SECRETARY. ALL PROCEDURES AND POLICIES ARE REVIEWED AND DISCUSSED IN ITS ENTIRETY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH ITS CONFLICTS OF INTEREST POLICY BY REVIEWING THE WORKING RELATIONSHIP OF THE HDFC TO COINCIDE WITH THE PROJECTS RULES AND REGULATIONS MANDATED BY HPD AND OTHER SPECIALIZED PROGRAMS THAT THE HDFC ARE INVOLVED WITH ON ONGOING BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE IS NO COMPENSATION PAID DIRECTLY FROM THIS HDFC TO ANYONE LISTED ON THE BOARD OF DIRECTORS, NOR THE ORGANIZATIONS KEY EMPLOYEES OR TOP MANAGEMENT. ANY COMPENSATION PAID IS DONE SO VIA THE SPONSOR, WHICH COLLECTS THE MANAGEMENT FEES FROM THIS ENTITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7N/A; THERE IS NO COMPENSATION PAID DIRECTLY FROM THIS HDFC TO ANYONE LISTED ON THE BOARD OF DIRECTORS, NOR THE ORGANIZATIONS KEY EMPLOYEES OR TOP MANAGEMENT. ANY COMPENSATION PAID IS DONE SO VIA THE SPONSOR, WHICH COLLECTS THE MANAGEMENT FEES FROM THIS ENTITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS,CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA A SCHEDULED MEETING OF THE BOARD OF DIRECTORS AND ALSO UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Governing documents etc available to public Part VI line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0269310
IRS990/TotalFunctionalExpensesGrp/TotalAmt0600231
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IRS990/TotalLiabilitiesBOYAmt05252194
IRS990/TotalLiabilitiesEOYAmt05232313
IRS990/TotalLiabilitiesGrp/BOYAmt05252194
IRS990/TotalLiabilitiesGrp/EOYAmt05232313
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1392076
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1536257
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0456050
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IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.BELMONTLDC.COM
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CONSOLATO CICCIU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07183675300
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEBSTER PARK AVENUE HDFC
ReturnHeader/Filer/BusinessNameControlTxt0WEBS
ReturnHeader/Filer/EIN0753213736
ReturnHeader/Filer/USAddress/AddressLine1Txt0660 EAST 183RD STREET
ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010458
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0465389353
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Luigi LaVerghetta CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt075 South Broadway -Suite 434
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0White Plains
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010601
ReturnHeader/PreparerPersonGrp/PhoneNum09148743409
ReturnHeader/PreparerPersonGrp/PreparationDt02021-12-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Luigi LaVerghetta
ReturnHeader/ReturnTs02021-12-24T07:44:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CONSOLATO
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CICCIU
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,696,056
Liabilities
$5,232,313
Net assets
-$1,536,257
Revenue
$456,050
Expenses
$600,231
Net income
-$144,181
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.12$5.07$1.95$0.48$0.59$0.10
2023Detailed filing. Detailed filing data is available for this year.$3.23$5.08$1.85$0.47$0.41$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.38$5.29$1.91$0.47$0.67$0.20
2021Detailed filing. Detailed filing data is available for this year.$3.49$5.20$1.71$0.46$0.63$0.17
2020Detailed filing. Detailed filing data is available for this year.$3.70$5.23$1.54$0.46$0.60$0.14
2019Summary only. Only limited summary data is available for this year.$3.86$5.25$1.39$0.45$0.61$0.17
2018Summary only. Only limited summary data is available for this year.$4.05$5.28$1.23$0.45$0.62$0.16
2017Summary only. Only limited summary data is available for this year.$4.19$5.25$1.06$0.42$0.59$0.17
2016Summary only. Only limited summary data is available for this year.$4.39$5.28$0.89$0.39$0.57$0.17
2015Summary only. Only limited summary data is available for this year.$4.59$5.31$0.72$0.41$0.59$0.19
2014Summary only. Only limited summary data is available for this year.$4.81$5.34$0.53$0.40$0.58$0.18
2013Summary only. Only limited summary data is available for this year.$5.03$5.38$0.35$0.38$0.52$0.14
2012Summary only. Only limited summary data is available for this year.$5.25$5.43$0.18$0.38$0.54$0.16
2011Summary only. Only limited summary data is available for this year.$5.42$5.44$0.02$0.35$0.51$0.16