Civic Intelligence

Gregene Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 80-0818949

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

Organization ProfileN/A
230 Kingston AvenueBrooklyn, NY 11213

(212) 665-5500

Siviq Scores

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

Liabilities / Assets

94th percentile

1.21x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

5.94x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

33rd percentile

-2.2%

Higher net margin than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

38th percentile

-0.3%

Faster asset growth than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

49th percentile

3.5%

Faster revenue growth than 49% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$1,809,093

Down $5,535 (-0.3%) from 2018

Net Assets

Down

-$384,277

Down $7,980 (-2.1%) from 2018

Liabilities

Up

$2,193,370

Up $2,445 (+0.1%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin33rd percentile

Revenue

Up

$369,391

Up $12,609 (+3.5%) from 2018

Expenses

Down

$377,371

Down $26,547 (-6.6%) from 2018

Net Income

Up

-$7,980

Up $39,156 (+83%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2012: $2,069,181Liabilities 2012: $2,180,361Net Assets 2012: -$111,1802012Assets 2013: $2,062,005Liabilities 2013: $2,182,933Net Assets 2013: -$120,9282013Assets 2014: $2,004,340Liabilities 2014: $2,192,386Net Assets 2014: -$188,0462014Assets 2015: $1,963,723Liabilities 2015: $2,183,077Net Assets 2015: -$219,3542015Assets 2016: $1,909,949Liabilities 2016: $2,185,404Net Assets 2016: -$275,4552016Assets 2017: $1,872,247Liabilities 2017: $2,201,408Net Assets 2017: -$329,1612017Assets 2018: $1,814,628Liabilities 2018: $2,190,925Net Assets 2018: -$376,2972018Assets 2019: $1,809,093Liabilities 2019: $2,193,370Net Assets 2019: -$384,2772019Assets 2020: $1,805,544Liabilities 2020: $2,208,612Net Assets 2020: -$403,0682020Assets 2021: $1,753,171Liabilities 2021: $2,214,297Net Assets 2021: -$461,1262021Assets 2022: $2,096,629Liabilities 2022: $2,762,956Net Assets 2022: -$666,3272022Assets 2023: $1,991,291Liabilities 2023: $2,752,104Net Assets 2023: -$760,8132023Assets 2024: $1,908,510Liabilities 2024: $2,728,474Net Assets 2024: -$819,9642024

Highlighted filing

2019

Assets$1,809,093
Liabilities$2,193,370
Net Assets-$384,277
Open 2019 Filing

Operations Trend

Revenue Growth49th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $259,9302012Revenue 2013: $326,315Expenses 2013: $336,063Net Income 2013: -$9,7482013Revenue 2014: $340,463Expenses 2014: $407,581Net Income 2014: -$67,1182014Revenue 2015: $342,655Expenses 2015: $373,963Net Income 2015: -$31,3082015Revenue 2016: $349,104Expenses 2016: $405,205Net Income 2016: -$56,1012016Revenue 2017: $351,188Expenses 2017: $404,894Net Income 2017: -$53,7062017Revenue 2018: $356,782Expenses 2018: $403,918Net Income 2018: -$47,1362018Revenue 2019: $369,391Expenses 2019: $377,371Net Income 2019: -$7,9802019Revenue 2020: $365,753Expenses 2020: $384,544Net Income 2020: -$18,7912020Revenue 2021: $361,961Expenses 2021: $420,019Net Income 2021: -$58,0582021Revenue 2022: $358,039Expenses 2022: $415,211Net Income 2022: -$57,1722022Revenue 2023: $376,891Expenses 2023: $471,377Net Income 2023: -$94,4862023Revenue 2024: $410,601Expenses 2024: $469,752Net Income 2024: -$59,1512024

Highlighted filing

2019

Revenue$369,391
Expenses$377,371
Net Income-$7,980
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$369,391
Mission and Program Overview

Mission

This Corporation has beeen organized exclusively to assist in the acquisition and operation, on a non-profit basis, of a housing project for persons of low income.

Gregene housing development fund corporation (the "corporation") has been organized exclusively to assist the acquisition and operation, on a nonprofit basis, of a housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,396,165$1,334,321▼ $61,844
Cash and Non-Interest-Bearing Accounts$131,133$155,575▲ $24,442
Accounts Receivable$37,495$49,694▲ $12,199
Prepaid Expenses and Deferred Charges$10,337$15,014▲ $4,677
Total Assets$1,814,628$1,809,093▼ $5,535
Other Assets Total$239,498$254,489▲ $14,991
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,133,566$2,133,566→ $0
Other Liabilities$28,047$32,566▲ $4,519
Accounts Payable and Accrued Expenses$29,312$27,238▼ $2,074
Total Liabilities$2,190,925$2,193,370▲ $2,445
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-376,297$-384,277▼ $7,980
Total Net Assets Fund Balance$-376,297$-384,277▼ $7,980
Total Liabilities and Net Assets / Fund Balance$1,814,628$1,809,093▼ $5,535

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,322,921$583,866$1,906,787
Other Land Buildings$8,000-$8,000
Land$3,400-$3,400
Equipment$0$1,552$1,552
Other Assets Org$26,230--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Charles ThomasChairmain (beg. 10/2019)
Russell L TaylorChairman (until 10/2019)
Carmen Lourdes MartinezVice Chair (beg. 10/2019)
Charles ThomasVice Chair (until 10/2019)
A Kenneth PembertonAsst. Treasurer (until 10/2019)
Alecia D MasonMember
Mary HobsonMember
Michael BaileyMember
Sonia ClarkeMember
Allyson Franklin EsqSecretary (beg. 10/2019)
Nizjoni GranvilleSecretary (until 10/2019)
Steve CromityTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$364,713
Investment Income
$3,373
Other Revenue
$1,305
Change in Net Assets
$-7,980

Audited Revenue Reconciliation

Revenue per Audited Statements
$369,391
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$369,391
Total Revenue per Form 990
$369,391
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$305,331
Salaries, Compensation, and Employee Benefits$72,040
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$82,385--$82,385
Depreciation Depletion$69,844--$69,844
Other Salaries and Wages$57,358$6,373-$63,731
Insurance$41,189--$41,189
Fees for Services Management-$26,632-$26,632
Fees for Services Accounting-$13,174-$13,174
Payroll Taxes$4,631$515-$5,146
Office Expenses$3,944$673-$4,617
Fees for Services Legal$4,023--$4,023
Other Employee Benefits$2,847$316-$3,163
Fees for Services Other$1,324--$1,324
Other Expenses$392$1,535-$392
Travel$24--$24
Total Functional Expenses$328,153$49,218$0$377,371

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$377,371
Total Expenses per Audited Statements$377,371
Total Expenses per Form 990$377,371
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
Tenant Security Deposits$26,230
Prepaid Rents$6,336
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The board contracted lwc management corporation to manage the rental property through a management contract agreement. The management company reports to the board on a monthly basis.”

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

“The draft form 990 is initially provided to the managing agent for review and comments. Once reviewed and comments adddressed, the draft form 990 in paper form is then provided to the board through the president for review and approval of the full-board for filing with the irs.”

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

“On an annual basis, all board members, managing agent and key employees are required to disclose any conflict or potential conflict of interest. The disclosures are reviewed by the board members. Any member (s) with conflict of interest will not be allowed to vote on matters related to the conflict of interest.”

Form 990, Part VI, Section B, Line 15

“The board reviews the compensation for key employees as recommended by the managing agent based on compensation information for the same positions in similar organizations.”

Form 990, Part VI, Section C, Line 19

“The organization's form 990 is available for public inspection at www.guidestar.org. The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request to the managing agent, lwc management located at 2090 adam clayton powell, jr. Bldv., suite 203, new york, ny 10027 or by calling (212) 665-5500.”

Filing and Contact Details

Filer

Filer Name
Gregene Housing Development
EIN
80-0818949
Phone
2126655500
Address
230 KINGSTON AVENUE, BROOKLYN, NY 11213

Signing Officer

Name
Charles Thomas
Title
Chairman
Phone
9738183780
Signed
2020-11-16

Organization Details

Principal Officer
Charles Thomas
Formed
2012
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Galleros Robinson Cpas Llp
Address
115 DAVIS STATION ROAD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleroscpa
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 organization recognizes the effect of income tax positions only if those positions aree more likely than not of being sutained. Management has determined that the corporation 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/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt082385
IRS990/OccupancyGrp/TotalAmt082385
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0673
IRS990/OfficeExpensesGrp/ProgramServicesAmt03944
IRS990/OfficeExpensesGrp/TotalAmt04617
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0239498
IRS990/OtherAssetsTotalGrp/EOYAmt0254489
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0316
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02847
IRS990/OtherEmployeeBenefitsGrp/TotalAmt03163
IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2FILING FEES
IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01535
IRS990/OtherExpensesGrp/ProgramServicesAmt059767
IRS990/OtherExpensesGrp/ProgramServicesAmt1425
IRS990/OtherExpensesGrp/ProgramServicesAmt2392
IRS990/OtherExpensesGrp/TotalAmt059767
IRS990/OtherExpensesGrp/TotalAmt11535
IRS990/OtherExpensesGrp/TotalAmt2425
IRS990/OtherExpensesGrp/TotalAmt3392
IRS990/OtherLiabilitiesGrp/BOYAmt028047
IRS990/OtherLiabilitiesGrp/EOYAmt032566
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER
IRS990/OtherRevenueMiscGrp/ExclusionAmt01305
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01305
IRS990/OtherRevenueTotalAmt01305
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt06373
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt057358
IRS990/OtherSalariesAndWagesGrp/TotalAmt063731
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0515
IRS990/PayrollTaxesGrp/ProgramServicesAmt04631
IRS990/PayrollTaxesGrp/TotalAmt05146
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt010337
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt015014
IRS990/PrincipalOfficerNm0CHARLES THOMAS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0LOW-INCOME HSNG. RENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0364713
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0364713
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03032
IRS990/PYOtherExpensesAmt0346163
IRS990/PYOtherRevenueAmt01177
IRS990/PYProgramServiceRevenueAmt0352573
IRS990/PYRevenuesLessExpensesAmt0-47136
IRS990/PYSalariesCompEmpBnftPaidAmt057755
IRS990/PYTotalExpensesAmt0403918
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0356782
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-7980
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0364713
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03373
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt03032
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02656
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01611
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02171
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt012843
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0364713
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0352573
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0348525
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0346425
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0331488
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01743724
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03373
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03032
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02656
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01611
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02171
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt012843
IRS990ScheduleA/InvestmentIncomeCYPct00.00730
IRS990ScheduleA/InvestmentIncomePYPct00.00710
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01305
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt01177
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt07
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01068
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt08996
IRS990ScheduleA/OtherIncome509Grp/TotalAmt012553
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98560
IRS990ScheduleA/PublicSupportPY509Pct00.98650
IRS990ScheduleA/PublicSupportTotal509Amt01743724
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0364713
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0352573
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0348525
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0346425
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0331488
IRS990ScheduleA/Total509Grp/TotalAmt01743724
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0369391
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0356782
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0351188
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0349104
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0342655
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01769120
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01322921
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0583866
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01906787
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01552
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01552
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0377371
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt03400
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt03400
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt010143
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1130301
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt287815
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt326230
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITIES DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CAPITAL RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt08000
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt126230
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0369391
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS AREE MORE LIKELY THAN NOT OF BEING SUTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01334321
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0254489
IRS990ScheduleD/TotalExpensesPerForm990Amt0377371
IRS990ScheduleD/TotalLiabilityAmt032566
IRS990ScheduleD/TotalRevenuePerForm990Amt0369391
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0369391
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0377371
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD CONTRACTED LWC MANAGEMENT CORPORATION TO MANAGE THE RENTAL PROPERTY THROUGH A MANAGEMENT CONTRACT AGREEMENT. THE MANAGEMENT COMPANY REPORTS TO THE BOARD ON A MONTHLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT FORM 990 IS INITIALLY PROVIDED TO THE MANAGING AGENT FOR REVIEW AND COMMENTS. ONCE REVIEWED AND COMMENTS ADDDRESSED, THE DRAFT FORM 990 IN PAPER FORM IS THEN PROVIDED TO THE BOARD THROUGH THE PRESIDENT FOR REVIEW AND APPROVAL OF THE FULL-BOARD FOR FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ON AN ANNUAL BASIS, ALL BOARD MEMBERS, MANAGING AGENT AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICT OR POTENTIAL CONFLICT OF INTEREST. THE DISCLOSURES ARE REVIEWED BY THE BOARD MEMBERS. ANY MEMBER (S) WITH CONFLICT OF INTEREST WILL NOT BE ALLOWED TO VOTE ON MATTERS RELATED TO THE CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS THE COMPENSATION FOR KEY EMPLOYEES AS RECOMMENDED BY THE MANAGING AGENT BASED ON COMPENSATION INFORMATION FOR THE SAME POSITIONS IN SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AT WWW.GUIDESTAR.ORG. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE MANAGING AGENT, LWC MANAGEMENT LOCATED AT 2090 ADAM CLAYTON POWELL, JR. BLDV., SUITE 203, NEW YORK, NY 10027 OR BY CALLING (212) 665-5500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THIS 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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,809,093
Liabilities
$2,193,370
Net assets
-$384,277
Revenue
$369,391
Expenses
$377,371
Net income
-$7,980
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$2.73$0.82$0.41$0.47$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.99$2.75$0.76$0.38$0.47$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$2.76$0.67$0.36$0.42$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$2.21$0.46$0.36$0.42$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$2.21$0.40$0.37$0.38$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.81$2.19$0.38$0.37$0.38$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$2.19$0.38$0.36$0.40$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.87$2.20$0.33$0.35$0.40$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$2.19$0.28$0.35$0.41$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.96$2.18$0.22$0.34$0.37$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.00$2.19$0.19$0.34$0.41$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.06$2.18$0.12$0.33$0.34$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$2.18$0.11$0.26