Civic Intelligence

Vanmew Housing Development Fund Corporation

990 • Fiscal year 2021 • EIN 80-0819115

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 24, 2022

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

81st percentile

1.55x

Higher debt load relative to assets than 81% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

63rd percentile

6.59x

Higher debt load relative to revenue than 63% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Net Margin

35th percentile

-30%

Higher net margin than 35% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Asset Growth

47th percentile

-2.8%

Faster asset growth than 47% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

44th percentile

0.8%

Faster revenue growth than 44% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$1,224,313

Down $34,692 (-2.8%) from 2020

Net Assets

Down

-$675,582

Down $85,129 (-14%) from 2020

Liabilities

Up

$1,899,895

Up $50,437 (+2.7%) from 2020

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin35th percentile

Revenue

Up

$288,273

Up $2,318 (+0.8%) from 2020

Expenses

Up

$373,402

Up $9,579 (+2.6%) from 2020

Net Income

Down

-$85,129

Down $7,261 (-9.3%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2012: $1,679,539Liabilities 2012: $1,815,124Net Assets 2012: -$135,5852012Assets 2013: $1,661,776Liabilities 2013: $1,808,226Net Assets 2013: -$146,4502013Assets 2014: $1,641,087Liabilities 2014: $1,812,569Net Assets 2014: -$171,4822014Assets 2015: $1,576,887Liabilities 2015: $1,819,244Net Assets 2015: -$242,3572015Assets 2016: $1,534,099Liabilities 2016: $1,838,768Net Assets 2016: -$304,6692016Assets 2017: $1,484,268Liabilities 2017: $1,879,527Net Assets 2017: -$395,2592017Assets 2018: $1,376,522Liabilities 2018: $1,841,974Net Assets 2018: -$465,4522018Assets 2019: $1,312,633Liabilities 2019: $1,825,218Net Assets 2019: -$512,5852019Assets 2020: $1,259,005Liabilities 2020: $1,849,458Net Assets 2020: -$590,4532020Assets 2021: $1,224,313Liabilities 2021: $1,899,895Net Assets 2021: -$675,5822021Assets 2022: $1,530,825Liabilities 2022: $2,480,477Net Assets 2022: -$949,6522022Assets 2023: $1,466,900Liabilities 2023: $2,501,284Net Assets 2023: -$1,034,3842023Assets 2024: $1,400,877Liabilities 2024: $2,529,932Net Assets 2024: -$1,129,0552024

Highlighted filing

2021

Assets$1,224,313
Liabilities$1,899,895
Net Assets-$675,582
Open 2021 Filing

Operations Trend

Revenue Growth44th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $257,6582012Revenue 2013: $291,241Expenses 2013: $302,106Net Income 2013: -$10,8652013Revenue 2014: $288,076Expenses 2014: $313,108Net Income 2014: -$25,0322014Revenue 2015: $288,587Expenses 2015: $359,462Net Income 2015: -$70,8752015Revenue 2016: $285,432Expenses 2016: $347,744Net Income 2016: -$62,3122016Revenue 2017: $287,419Expenses 2017: $378,010Net Income 2017: -$90,5912017Revenue 2018: $304,238Expenses 2018: $374,431Net Income 2018: -$70,1932018Revenue 2019: $299,374Expenses 2019: $346,507Net Income 2019: -$47,1332019Revenue 2020: $285,955Expenses 2020: $363,823Net Income 2020: -$77,8682020Revenue 2021: $288,273Expenses 2021: $373,402Net Income 2021: -$85,1292021Revenue 2022: $291,678Expenses 2022: $416,570Net Income 2022: -$124,8922022Revenue 2023: $320,460Expenses 2023: $405,192Net Income 2023: -$84,7322023Revenue 2024: $334,251Expenses 2024: $428,922Net Income 2024: -$94,6712024

Highlighted filing

2021

Revenue$288,273
Expenses$373,402
Net Income-$85,129
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 24, 2022
Return Version
2021v4.2
Gross Receipts
$288,273
Mission and Program Overview

Mission

Vanmew housing development fund corporation (the "corporation") has entered into regulatory and financing agreements with the new york state housing finance agency and the new york city department of housing preservation development (hpd) to acquire apartment buildings for purposes of operating and maintaining rental properties at approved rates for persons of low-income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,073,296$1,015,059▼ $58,237
Accounts Receivable$6,159$23,066▲ $16,907
Cash and Non-Interest-Bearing Accounts$10,691$14,388▲ $3,697
Prepaid Expenses and Deferred Charges$9,737$11,320▲ $1,583
Total Assets$1,259,005$1,224,313▼ $34,692
Other Assets Total$159,122$160,480▲ $1,358
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,729,929$1,729,929→ $0
Other Liabilities$64,448$109,731▲ $45,283
Accounts Payable and Accrued Expenses$55,081$60,235▲ $5,154
Total Liabilities$1,849,458$1,899,895▲ $50,437
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-590,453$-675,582▼ $85,129
Total Net Assets Fund Balance$-590,453$-675,582▼ $85,129
Total Liabilities and Net Assets / Fund Balance$1,259,005$1,224,313▼ $34,692

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,013,559$540,580$1,554,139
Land$1,500-$1,500
Other Assets Org$50,086--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Charles ThomasChairman
Carmen Lourdes MartinezVice Chair
Alecia D MasonMember
Mary HobsonMember
Michael BaileyMember
Sonia ClarkeMember
Allyson Franklin EsqSecretary
Steve CromityTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$285,238
Investment Income
$1,417
Other Revenue
$1,618
Change in Net Assets
$-85,129

Audited Revenue Reconciliation

Revenue per Audited Statements
$288,273
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$9,384
Total Revenue per Audited Statements
$297,657
Total Revenue per Form 990
$288,273
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$300,466
Salaries, Compensation, and Employee Benefits$72,936
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$70,347--$70,347
Depreciation Depletion$58,237--$58,237
Other Salaries and Wages$49,359$5,484-$54,843
Insurance$36,322--$36,322
Fees for Services Management-$22,999-$22,999
Interest$21,624--$21,624
Fees for Services Accounting-$14,266-$14,266
Other Employee Benefits$12,213$1,357-$13,570
Payroll Taxes$4,071$452-$4,523
Office Expenses$2,205$2,204-$4,409
Fees for Services Legal-$3,925-$3,925
Other Expenses$1,695$1,560-$1,560
Fees for Services Other$729--$729
All Other Expenses$325$311-$636
Total Functional Expenses$320,844$52,558$0$373,402

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$382,786
Expenses per Audited Statements$373,402
Total Expenses per Form 990$373,402
Expenses Not Reported on Form 990$9,384
Expenses Not Reported on Financial Statements$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
Accrued Interest Payable$37,071
Due to Affiliates$31,859
Tenant Security Deposits Payable$21,107
Prepaid Rent$19,694
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
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

“Form 990 part vi, section b, line 11: the draft form 990 is initially provided to the managing agent for review and comments. Once reviewed and comments addressed, 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 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 position in similar organizations.”

Form 990, Part VI, Section C, Line 19

“The organization will make the governing documents, conflict of interest and financial statements available to the public upon request by calling telephone #212.665.5500 or at the office of its managing agent, lwc management corporation located at 2090 adam clayton powell, jr. Blvd, new york, ny 10027.”

Filing and Contact Details

Filer

Filer Name
Vanmew Housing Development
EIN
80-0819115
Phone
2126655500
Address
230 KINGSTON AVENUE, BROOKLYN, NY 11213

Signing Officer

Name
Charles Thomas
Title
Chairman
Phone
2126655500
Signed
2022-08-24

Organization Details

Principal Officer
Charles Thomas
Formed
2012
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

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 are more likely than not of being sustained. Management has determined that the corporation had no uncertain tax positions that would require financial statement recognition. The corporation is no longer subject to audits by the applicable taxing jurisdictions for years prior to 2018.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“RENT FREE UNIT 9,384.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“RENT FREE UNIT 9,384.”

Raw XML AppendixShowing 400 of 457 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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IRS990/OtherExpensesGrp/TotalAmt21695
IRS990/OtherExpensesGrp/TotalAmt31560
IRS990/OtherLiabilitiesGrp/BOYAmt064448
IRS990/OtherLiabilitiesGrp/EOYAmt0109731
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt01618
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01618
IRS990/OtherRevenueTotalAmt01618
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05484
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt049359
IRS990/OtherSalariesAndWagesGrp/TotalAmt054843
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0452
IRS990/PayrollTaxesGrp/ProgramServicesAmt04071
IRS990/PayrollTaxesGrp/TotalAmt04523
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt09737
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011320
IRS990/PrincipalOfficerNm0CHARLES THOMAS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0LOW-INCOME HSNG RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0285238
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0285238
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01667
IRS990/PYOtherExpensesAmt0288736
IRS990/PYOtherRevenueAmt040
IRS990/PYProgramServiceRevenueAmt0284248
IRS990/PYRevenuesLessExpensesAmt0-77868
IRS990/PYSalariesCompEmpBnftPaidAmt075087
IRS990/PYTotalExpensesAmt0363823
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0285955
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-85129
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0285238
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01417
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01667
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02063
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02036
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02489
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt09672
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0285238
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0284248
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0295620
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0301068
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0283896
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01450070
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01417
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01667
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02063
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02036
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02489
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt09672
IRS990ScheduleA/InvestmentIncomeCYPct00.00660
IRS990ScheduleA/InvestmentIncomePYPct00.00670
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01627
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt040
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt01691
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01134
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01034
IRS990ScheduleA/OtherIncome509Grp/TotalAmt05526
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98960
IRS990ScheduleA/PublicSupportPY509Pct00.99060
IRS990ScheduleA/PublicSupportTotal509Amt01450070
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0285238
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0284248
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0295620
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0301068
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0283896
IRS990ScheduleA/Total509Grp/TotalAmt01450070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0288282
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0285955
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0299374
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0304238
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0287419
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01465268
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01013559
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0540580
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01554139
IRS990ScheduleD/ExpensesNotReportedAmt09384
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0373402
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07841
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt181446
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt221107
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt350086
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITIES DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANCY SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CAPITAL RESERVE
IRS990ScheduleD/OtherExpensesIncludedAmt09384
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019694
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt121107
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt231859
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt337071
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherRevenueAmt09384
IRS990ScheduleD/RevenueNotReportedAmt09384
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0288273
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. THE CORPORATION IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO 2018.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENT FREE UNIT 9,384.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENT FREE UNIT 9,384.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01015059
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0160480
IRS990ScheduleD/TotalExpensesPerForm990Amt0373402
IRS990ScheduleD/TotalLiabilityAmt0109731
IRS990ScheduleD/TotalRevenuePerForm990Amt0288273
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0297657
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0382786
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/ExplanationTxt1FORM 990 PART VI, SECTION B, LINE 11: THE DRAFT FORM 990 IS INITIALLY PROVIDED TO THE MANAGING AGENT FOR REVIEW AND COMMENTS. ONCE REVIEWED AND COMMENTS ADDRESSED, 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 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 POSITION IN SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION WILL MAKE THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST BY CALLING TELEPHONE #212.665.5500 OR AT THE OFFICE OF ITS MANAGING AGENT, LWC MANAGEMENT CORPORATION LOCATED AT 2090 ADAM CLAYTON POWELL, JR. BLVD, NEW YORK, NY 10027.
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
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01259005
IRS990/TotalAssetsEOYAmt01224313
IRS990/TotalAssetsGrp/BOYAmt01259005
IRS990/TotalAssetsGrp/EOYAmt01224313
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt052558
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0320844
IRS990/TotalFunctionalExpensesGrp/TotalAmt0373402
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01849458
IRS990/TotalLiabilitiesEOYAmt01899895
IRS990/TotalLiabilitiesGrp/BOYAmt01849458
IRS990/TotalLiabilitiesGrp/EOYAmt01899895
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-590453
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-675582

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,224,313
Liabilities
$1,899,895
Net assets
-$675,582
Revenue
$288,273
Expenses
$373,402
Net income
-$85,129
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.40$2.53$1.13$0.33$0.43$0.09
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$2.50$1.03$0.32$0.41$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$2.48$0.95$0.29$0.42$0.12
2021Detailed filing. Detailed filing data is available for this year.$1.22$1.90$0.68$0.29$0.37$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.26$1.85$0.59$0.29$0.36$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$1.83$0.51$0.30$0.35$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$1.84$0.47$0.30$0.37$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$1.88$0.40$0.29$0.38$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.53$1.84$0.30$0.29$0.35$0.06
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$1.82$0.24$0.29$0.36$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.64$1.81$0.17$0.29$0.31$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.66$1.81$0.15$0.29$0.30$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$1.82$0.14$0.26