Civic Intelligence

Mcgee Plaza Housing Development Fund

EIN 81-1477381 • 501(c)3 • Bronx, NY

Profile

Provide affordable low income rental housing

576B East 165th StreetBronx, NY 10456

mrcbx.org

Siviq Scores

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

Liabilities / Assets

68th percentile

1.16x

Higher debt load relative to assets than 68% of similar nonprofits.

NTEE L21 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

9.27x

Higher debt load relative to revenue than 77% of similar nonprofits.

NTEE L21 • $1M-$5M nonprofits • Source year 2023

Net Margin

19th percentile

-49%

Higher net margin than 19% of similar nonprofits.

NTEE L21 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

61st percentile

$150,000

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 60.4% of source-year revenue.

NTEE L21 • $1M-$5M nonprofits • Source year 2023

Asset Growth

25th percentile

-4.7%

Faster asset growth than 25% of similar nonprofits.

NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

13th percentile

-15%

Faster revenue growth than 13% of similar nonprofits.

NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$1,984,458

Down $97,923 (-4.7%) from 2022

Liabilities

Up

$2,304,714

Up $23,879 (+1.0%) from 2022

Net Assets

Down

-$320,256

Down $121,802 (-61%) from 2022

Revenue

Down

$248,489

Down $45,542 (-15%) from 2022

Expenses

Up

$369,989

Up $4,008 (+1.1%) from 2022

Net Income

Down

-$121,500

Down $49,550 (-69%) from 2022

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2017: $1,899,082Liabilities 2017: $1,860,597Net Assets 2017: $38,4852017Assets 2019: $1,813,101Liabilities 2019: $1,851,884Net Assets 2019: -$38,7832019Assets 2020: $1,771,453Liabilities 2020: $1,854,580Net Assets 2020: -$83,1272020Assets 2021: $1,720,278Liabilities 2021: $1,846,782Net Assets 2021: -$126,5042021Assets 2022: $2,082,381Liabilities 2022: $2,280,835Net Assets 2022: -$198,4542022Assets 2023: $1,984,458Liabilities 2023: $2,304,714Net Assets 2023: -$320,2562023

Highlighted filing

2023

Assets$1,984,458
Liabilities$2,304,714
Net Assets-$320,256

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2017: $284,512Expenses 2017: $419,288Net Income 2017: -$134,7762017Revenue 2019: $266,066Expenses 2019: $306,559Net Income 2019: -$40,4932019Revenue 2020: $293,486Expenses 2020: $337,830Net Income 2020: -$44,3442020Revenue 2021: $295,540Expenses 2021: $338,917Net Income 2021: -$43,3772021Revenue 2022: $294,031Expenses 2022: $365,981Net Income 2022: -$71,9502022Revenue 2023: $248,489Expenses 2023: $369,989Net Income 2023: -$121,5002023

Highlighted filing

2023

Revenue$248,489
Expenses$369,989
Net Income-$121,500

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 10, 2024
Return Version
2023v5.1
Gross Receipts
$248,489
Mission and Program Overview

Mission

Provide affordable low income rental housing

Provider of affordable low income rental housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,302,723$1,212,529▼ $90,194
Cash and Non-Interest-Bearing Accounts$67,451$104,532▲ $37,081
Accounts Receivable$124,735$80,228▼ $44,507
Prepaid Expenses and Deferred Charges$59,280$59,280→ $0
Intangible Assets$37,536$37,536→ $0
Total Assets$2,082,381$1,984,458▼ $97,923
Other Assets Total$490,656$490,353▼ $303
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,055,027$2,055,027→ $0
Other Liabilities$139,076$146,636▲ $7,560
Accounts Payable and Accrued Expenses$86,732$103,051▲ $16,319
Total Liabilities$2,280,835$2,304,714▲ $23,879
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-198,454$-320,256▼ $121,802
Total Net Assets Fund Balance$-198,454$-320,256▼ $121,802
Total Liabilities and Net Assets / Fund Balance$2,082,381$1,984,458▼ $97,923

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,210,129$1,766,452$2,976,581
Land$2,400-$2,400
Other Assets Org$100--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Paul MooreExecutive DirectorPT$150,000$150,000

Board Members and Trustees

NameTitle
Helen Foreman-hinesPresident
Izzy KukajVice President
Robert BalachandranVice President
Abigail TaylorDirector
Jackie Forbes-clarkDirector
Rita JonesDirector
Rosemarie Gordon onDirector
Fredrica ClarkSecretary
Sean TurnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$248,489
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-121,500
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$369,989
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$90,194--$90,194
Fees for Services Other$47,849--$47,849
Fees for Services Management$24,199--$24,199
Fees for Services Accounting$20,750--$20,750
Interest$20,550--$20,550
Insurance$6,694--$6,694
Fees for Services Legal$6,406--$6,406
Office Expenses$3,462--$3,462
Other Expenses$128--$128
Total Functional Expenses$369,989$0$0$369,989
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
Interest Payable$103,234
Due to Affiliate$23,162
Tenant Security$17,383
Prepaid Rent$2,857
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 draft of form 990 is reviewed and approved by the board prior to filing.

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

Board members are required to disclose any conflicts of interest on an annual basis and as potential conflicts arise.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Mcgee Plaza Housing Development Fund
EIN
81-1477381
Phone
7185897858
Address
576B EAST 165TH STREET, BRONX, NY 10456

Signing Officer

Name
Paul Moore
Title
Executive Director
Phone
7185897858
Signed
2024-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Moore
Formed
2017
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Cbiz Advisors LLC
Address
10 MELVILLE PARK ROAD, MELVILLE, NY 11747-3146
Preparer
Mary Ann Mendel
Phone
6314144000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Payroll funding: program service expenses 44,224. Management and general expenses 0. Fundraising expenses 0. Total expenses 44,224. Consulting fees: program service expenses 3,625. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,625.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0248489
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0294031
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0295540
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0293486
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0266066
IRS990ScheduleA/Total509Grp/TotalAmt01397612
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0248489
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0294031
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0295540
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0293486
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0266066
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01397612
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01210129
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01766452
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02976581
IRS990ScheduleD/LandGrp/BookValueAmt02400
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02400
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt025390
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115649
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2449214
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3100
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0103234
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12857
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt217383
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt323162
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO AFFILIATE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01212529
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0490353
IRS990ScheduleD/TotalLiabilityAmt0146636
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS AND AS POTENTIAL CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL FUNDING: PROGRAM SERVICE EXPENSES 44,224. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 44,224. CONSULTING FEES: PROGRAM SERVICE EXPENSES 3,625. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,625.
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 IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MORRISANIA REVITALIZATION CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1MRC MELROSE HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2MARSHALL COURT HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3JDD COURT HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4MRC 754 EAST 161ST STREET HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5FULTON PLAZA HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0133113927
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1461680265
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2133651523
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3461664159
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4133833870
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5133651524
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5HOUSING DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt2LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt3LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt4LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt5LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt3576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt4576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt5576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm4BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm5BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd3NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd4NY

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