Civic Intelligence

Nycha II Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 80-0546653

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileN/A
250 BroadwayNew York, NY 10007

(212) 306-6679

Siviq Scores

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

Liabilities / Assets

97th percentile

1.24x

Higher debt load relative to assets than 97% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

83rd percentile

2.31x

Higher debt load relative to revenue than 83% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

1st percentile

-138%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

96th percentile

53%

Faster asset growth than 96% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

42%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$128,627,157

Up $44,719,401 (+53%) from 2018

Net Assets

Down

-$31,225,361

Down $115,123,917 (-137%) from 2018

Liabilities

Up

$159,852,518

Up $159,843,318 (+1737427%) from 2018

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin1st percentile

Revenue

Up

$69,191,447

Up $20,494,717 (+42%) from 2018

Expenses

Up

$164,695,458

Up $164,693,158 (+7160572%) from 2018

Net Income

Down

-$95,504,011

Down $144,198,441 (-296%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$200M$150M$100M$50M$0-$50MAssets 2018: $83,907,756Liabilities 2018: $9,200Net Assets 2018: $83,898,5562018Assets 2019: $128,627,157Liabilities 2019: $159,852,518Net Assets 2019: -$31,225,3612019Assets 2020: $70,918,763Liabilities 2020: $91,820,465Net Assets 2020: -$20,901,7022020Assets 2021: $21,607,256Liabilities 2021: $3,076,543Net Assets 2021: $18,530,7132021Assets 2022: $20,451,748Liabilities 2022: $1,433,949Net Assets 2022: $19,017,7992022Assets 2023: $19,535,317Liabilities 2023: $37,309Net Assets 2023: $19,498,0082023Assets 2024: $20,035,643Liabilities 2024: $37,068Net Assets 2024: $19,998,5752024

Highlighted filing

2019

Assets$128,627,157
Liabilities$159,852,518
Net Assets-$31,225,361
Open 2019 Filing

Operations Trend

Revenue Growth91st percentile

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

$200M$100M$0-$100MRevenue 2018: $48,696,730Expenses 2018: $2,300Net Income 2018: $48,694,4302018Revenue 2019: $69,191,447Expenses 2019: $164,695,458Net Income 2019: -$95,504,0112019Revenue 2020: $69,703,388Expenses 2020: $59,379,729Net Income 2020: $10,323,6592020Revenue 2021: $75,418,815Expenses 2021: $35,986,399Net Income 2021: $39,432,4162021Revenue 2022: $487,086Expenses 2022: $0Net Income 2022: $487,0862022Revenue 2023: $480,209Expenses 2023: $0Net Income 2023: $480,2092023Revenue 2024: $500,567Expenses 2024: $0Net Income 2024: $500,5672024

Highlighted filing

2019

Revenue$69,191,447
Expenses$164,695,458
Net Income-$95,504,011
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$69,191,447
Mission and Program Overview

Mission

To faciliate housing for persons of low income in new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$67,060,144▲ $67,060,144
Cash and Non-Interest-Bearing Accounts-$15,623,741-
Other Notes and Loans Receivable, Net-$4,355,724-
Prepaid Expenses and Deferred Charges-$2,436,726-
Accounts Receivable-$1,650,832-
Investments Program Related$83,907,756$852,692▼ $83,055,064
Total Assets$83,907,756$128,627,157▲ $44,719,401
Other Assets Total$0$36,647,298▲ $36,647,298
Liabilities
Other Liabilities$0$89,775,064▲ $89,775,064
Mortgage Notes Payable Secured by Investment Property-$51,673,284-
Accounts Payable and Accrued Expenses$9,200$18,404,170▲ $18,394,970
Total Liabilities$9,200$159,852,518▲ $159,843,318
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$83,898,556$-31,225,361▼ $115,123,917
Total Net Assets Fund Balance$83,898,556$-31,225,361▼ $115,123,917
Total Liabilities and Net Assets / Fund Balance$83,907,756$128,627,157▲ $44,719,401

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$67,060,144$161,227,862$228,288,006
Other Land Buildings$0--
Other Assets Org$36,647,298--
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Greg RussPresident
Vito MustaciuoloVice President
Victor a GonzalezDirector
Kelly D MacnealSecretary and Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$36,920,502
Program Service Revenue
$32,010,143
Investment Income
$260,802
Other Revenue
$0
Change in Net Assets
$-95,504,011

Audited Revenue Reconciliation

Revenue per Audited Statements
$69,191,447
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$69,191,447
Total Revenue per Form 990
$69,191,447
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$156,728,249
Salaries, Compensation, and Employee Benefits$7,967,209
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$9,065,109$1,601,483-$10,666,592
Depreciation Depletion$5,616,025--$5,616,025
Other Employee Benefits$149,583$5,212,542-$5,362,125
Fees for Services Management$5,064,232--$5,064,232
Office Expenses$2,053,691$1,374,415-$3,428,106
Other Salaries and Wages$2,434,704$170,380-$2,605,084
All Other Expenses$2,277,301--$2,277,301
Insurance$345,949$938,033-$1,283,982
Interest$1,132,008--$1,132,008
Fees for Services Legal$140,930--$140,930
Fees for Services Accounting-$55,884-$55,884
Travel$383--$383
Total Functional Expenses$155,342,721$9,352,737$0$164,695,458

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$164,695,458
Total Expenses per Audited Statements$164,695,458
Total Expenses per Form 990$164,695,458
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Pollution Remediation Obligation$87,956,770
Tenant Security Deposits$1,066,318
Prepaid Rent$751,976
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to all parties by filing.”

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

“Officers and certain nycha staff must fill out an annual financial disclosure and conflicts interest form.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Nycha Ii Housing Development Fund
EIN
80-0546653
Phone
2123066679
Address
250 BROADWAY, NEW YORK, NY 10007

Signing Officer

Name
Jeffrey Lesnoy
Title
Controller
Phone
2123066679
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Annika Lescott
Formed
2010
Legal Domicile
Ny
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
12 POST OFFICE SQUARE 4TH FLOOR, BOSTON, MA 02109
Preparer
Charles a Rhuda Iii
Phone
6173301920
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Under rev rule 99-6, nycha preservation ii, llc became a single member llc (disregarded entity) when the managing member purchased the interest the interest of the investment member on 12/31/2018. The managing member is 100% owned by nycha ii hdfc and therefore all of the assets and and liabilities are reported on this 990. This change change in net assets on part xi, line 9 represents cumulative book tax differences between the carrying value of assets under the accounting method used for tax for nycha preservation ii, llc and gasb accounting used by nycha ii hdfc. -19,619,906.”

Financial Statement Notes

Form 990, Part IV, Line 11F

“The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the company to report information regarding its exposure to various tax positions taken by the company. The company has determined whether any tax positions have met the recognition threshold and has measured the company's exposure to those tax positions. Management believes that the company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the company are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.”

Raw XML AppendixShowing 400 of 412 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/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1POLLUTION REMEDIATION OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID RENT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt069191447
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE COMPANY TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE COMPANY. THE COMPANY HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE COMPANY'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE COMPANY ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART IV, LINE 11F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt067060144
IRS990ScheduleD/TotalBookValueOtherAssetsAmt036647298
IRS990ScheduleD/TotalExpensesPerForm990Amt0164695458
IRS990ScheduleD/TotalLiabilityAmt089775064
IRS990ScheduleD/TotalRevenuePerForm990Amt069191447
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt069191447
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0164695458
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO ALL PARTIES BY FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS AND CERTAIN NYCHA STAFF MUST FILL OUT AN ANNUAL FINANCIAL DISCLOSURE AND CONFLICTS INTEREST FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNDER REV RULE 99-6, NYCHA PRESERVATION II, LLC BECAME A SINGLE MEMBER LLC (DISREGARDED ENTITY) WHEN THE MANAGING MEMBER PURCHASED THE INTEREST THE INTEREST OF THE INVESTMENT MEMBER ON 12/31/2018. THE MANAGING MEMBER IS 100% OWNED BY NYCHA II HDFC AND THEREFORE ALL OF THE ASSETS AND AND LIABILITIES ARE REPORTED ON THIS 990. THIS CHANGE CHANGE IN NET ASSETS ON PART XI, LINE 9 REPRESENTS CUMULATIVE BOOK TAX DIFFERENCES BETWEEN THE CARRYING VALUE OF ASSETS UNDER THE ACCOUNTING METHOD USED FOR TAX FOR NYCHA PRESERVATION II, LLC AND GASB ACCOUNTING USED BY NYCHA II HDFC. -19,619,906.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990/SchoolOperatingInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalContributionsAmt036920502
IRS990/TotalEmployeeCnt00
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IRS990/USAddress/ZIPCd010007
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$128,627,157
Liabilities
$159,852,518
Net assets
-$31,225,361
Revenue
$69,191,447
Expenses
$164,695,458
Net income
-$95,504,011
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$0.04$20.0$0.50$0.00$0.50
2023Detailed filing. Detailed filing data is available for this year.$19.5$0.04$19.5$0.48$0.00$0.48
2022Detailed filing. Detailed filing data is available for this year.$20.5$1.43$19.0$0.49$0.00$0.49
2021Detailed filing. Detailed filing data is available for this year.$21.6$3.08$18.5$75.4$36.0$39.4
2020Detailed filing. Detailed filing data is available for this year.$70.9$91.8$20.9$69.7$59.4$10.3
2019Detailed filing. Detailed filing data is available for this year.$129$160$31.2$69.2$165$95.5
2018Detailed filing. Detailed filing data is available for this year.$83.9$0.01$83.9$48.7$0.00$48.7