Civic Intelligence

Ricos Place Hdfc

EIN 82-3533600 • 501(c)4 • Brooklyn, NY

Profile

The corporation is a charitable not-for-profit corporation organized pursuant to npcl and phfl 573 exclusively for this purpose of developing and operating a housing project for persons of low income.

25 Elm Place 2nd FloorBrooklyn, NY 11201

ccmnyc.org

Siviq Scores

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

Liabilities / Assets

99th percentile

4.12x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

99th percentile

109%

Higher net margin than 99% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

13th percentile

-11%

Faster asset growth than 13% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2024

Assets

Down

$1,179,914

Down $143,072 (-11%) from 2023

Liabilities

Up

$4,859,839

Up $164,085 (+3.5%) from 2023

Net Assets

Down

-$3,679,925

Down $307,157 (-9.1%) from 2023

Revenue

Down

-$282,780

Down $605,143 (-188%) from 2023

Expenses

Down

$24,896

Down $540,126 (-96%) from 2023

Net Income

Down

-$307,676

Down $65,017 (-27%) from 2023

Trend Graphs

Balance Sheet Trend

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

$5.0M$0-$5.0MAssets 2020: $1,734,475Liabilities 2020: $4,358,477Net Assets 2020: -$2,624,0022020Assets 2021: $1,581,039Liabilities 2021: $4,513,267Net Assets 2021: -$2,932,2282021Assets 2022: $1,474,058Liabilities 2022: $4,604,452Net Assets 2022: -$3,130,3942022Assets 2023: $1,322,986Liabilities 2023: $4,695,754Net Assets 2023: -$3,372,7682023Assets 2024: $1,179,914Liabilities 2024: $4,859,839Net Assets 2024: -$3,679,9252024

Highlighted filing

2024

Assets$1,179,914
Liabilities$4,859,839
Net Assets-$3,679,925

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2020: $290,634Expenses 2020: $516,188Net Income 2020: -$225,5542020Revenue 2021: $273,258Expenses 2021: $581,803Net Income 2021: -$308,5452021Revenue 2022: $322,105Expenses 2022: $549,372Net Income 2022: -$227,2672022Revenue 2023: $322,363Expenses 2023: $565,022Net Income 2023: -$242,6592023Revenue 2024: -$282,780Expenses 2024: $24,896Net Income 2024: -$307,6762024

Highlighted filing

2024

Revenue-$282,780
Expenses$24,896
Net Income-$307,676

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$299,087
Mission and Program Overview

Mission

The corporation is a charitable not-for-profit corporation organized pursuant to npcl and phfl 573 exclusively for this purpose of developing and operating a housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$985,510$867,122▼ $118,388
Cash and Non-Interest-Bearing Accounts$187,628$168,647▼ $18,981
Savings and Temporary Cash Investments$120,082$120,082→ $0
Intangible Assets$14,705$13,474▼ $1,231
Accounts Receivable$9,593$4,931▼ $4,662
Investments Other Securities$3,601$3,601→ $0
Prepaid Expenses and Deferred Charges$1,867$2,057▲ $190
Total Assets$1,322,986$1,179,914▼ $143,072
Liabilities
Other Liabilities$4,029,994$4,163,987▲ $133,993
Accounts Payable and Accrued Expenses$665,760$695,852▲ $30,092
Total Liabilities$4,695,754$4,859,839▲ $164,085
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,372,768$-3,679,925▼ $307,157
Total Net Assets Fund Balance$-3,372,768$-3,679,925▼ $307,157
Total Liabilities and Net Assets / Fund Balance$1,322,986$1,179,914▼ $143,072

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$805,922$2,452,975$3,258,897
Equipment$0$272,815$272,815
Land$61,200-$61,200
Compensation and Service Providers

Board Members and Trustees

NameTitle
Russel ShulerChair
Annette SmithBoard Member
Gary BoucherBoard Member
Lawanda JacksonBoard Member
Douglas C BrooksCEO
Cassandra UnderdueTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$240,073
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-522,853
Change in Net Assets
$-307,676

Audited Revenue Reconciliation

Revenue per Audited Statements
$299,087
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$299,087
Total Revenue per Form 990
$299,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$24,896
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
Fees for Services Management$24,896--$24,896
Total Functional Expenses$24,896$0$0$24,896

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$606,244
Total Expenses per Audited Statements$606,244
Total Expenses per Form 990$606,244
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable$2,482,816
Due to Affiliate$959,946
Mortgage Payable Hdc$717,905
Tenant Security Deposits$3,320
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

The completed 990 is submitted first to the officers for review. Once reviewed and approved it is filed with the irs.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
RICO'S PLACE HDFC
EIN
82-3533600
Phone
7158020666
Address
25 ELM PLACE 2ND FLOOR, BROOKLYN, NY 11201

Signing Officer

Name
Douglas Brooks
Title
CEO
Phone
7188020666
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Brooks
Formed
2017
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Geltrude & Co LLC
Address
513 FRANKLIN AVE, NUTLEY, NJ 07110
Preparer
Michael Carlon
Phone
9736679100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Book/tax depreciation difference 519.

FORM 990, PART XII, LINE 2C:

The process has not changed

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Book - tax depreciation difference book - tax amortization difference

Raw XML Appendix359 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/TotalAssetsEOYAmt01179914
IRS990/TotalAssetsGrp/BOYAmt01322986
IRS990/TotalAssetsGrp/EOYAmt01179914
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0240073
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt024896
IRS990/TotalFunctionalExpensesGrp/TotalAmt024896
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04695754
IRS990/TotalLiabilitiesEOYAmt04859839
IRS990/TotalLiabilitiesGrp/BOYAmt04695754
IRS990/TotalLiabilitiesGrp/EOYAmt04859839
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-3372768
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3679925
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt024896
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-522853
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-282780
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01322986
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01179914
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt025 ELM PLACE 2ND FLOOR
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011201
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0CCMNYC.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUGLAS BROOKS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07188020666
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RICO'S PLACE HDFC
ReturnHeader/Filer/BusinessNameControlTxt0RICO
ReturnHeader/Filer/EIN0823533600
ReturnHeader/Filer/PhoneNum07158020666
ReturnHeader/Filer/USAddress/AddressLine1Txt025 ELM PLACE 2ND FLOOR
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011201
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223363665
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GELTRUDE & CO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0513 FRANKLIN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NUTLEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007110
ReturnHeader/PreparerPersonGrp/PhoneNum09736679100
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL CARLON
ReturnHeader/ReturnTs02025-11-14T08:47:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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