Civic Intelligence

Mhany Dumont Housing Development Fund Corporation

990 • Fiscal year 2020 • EIN 83-4597057

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 01, 2021

Organization ProfileN/A
470 Vanderbilt Ave 9th FloorBrooklyn, NY 11238

(718) 246-8080

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.59x

Higher debt load relative to assets than 43% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

10.84x

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

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

Net Margin

32nd percentile

-4.2%

Higher net margin than 32% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

Asset Growth

96th percentile

64%

Faster asset growth than 96% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

111%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$10,723,809

Up $4,194,602 (+64%) from 2019

Net Assets

Down

$4,377,260

Down $24,601 (-0.6%) from 2019

Liabilities

Up

$6,346,549

Up $4,219,203 (+198%) from 2019

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin32nd percentile

Revenue

Up

$585,735

Up $307,903 (+111%) from 2019

Expenses

Up

$610,336

Up $337,191 (+123%) from 2019

Net Income

Down

-$24,601

Down $29,288 (-625%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$15M$10M$5.0M$0Assets 2019: $6,529,207Liabilities 2019: $2,127,346Net Assets 2019: $4,401,8612019Assets 2020: $10,723,809Liabilities 2020: $6,346,549Net Assets 2020: $4,377,2602020Assets 2021: $11,749,275Liabilities 2021: $7,569,332Net Assets 2021: $4,179,9432021Assets 2022: $11,413,697Liabilities 2022: $7,484,282Net Assets 2022: $3,929,4152022Assets 2023: $11,135,809Liabilities 2023: $7,465,912Net Assets 2023: $3,669,8972023Assets 2024: $10,888,635Liabilities 2024: $7,478,481Net Assets 2024: $3,410,1542024

Highlighted filing

2020

Assets$10,723,809
Liabilities$6,346,549
Net Assets$4,377,260
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

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

$1.0M$500K$0-$500KRevenue 2019: $277,832Expenses 2019: $273,145Net Income 2019: $4,6872019Revenue 2020: $585,735Expenses 2020: $610,336Net Income 2020: -$24,6012020Revenue 2021: $467,917Expenses 2021: $665,234Net Income 2021: -$197,3172021Revenue 2022: $571,777Expenses 2022: $822,305Net Income 2022: -$250,5282022Revenue 2023: $620,025Expenses 2023: $879,543Net Income 2023: -$259,5182023Revenue 2024: $568,651Expenses 2024: $828,394Net Income 2024: -$259,7432024

Highlighted filing

2020

Revenue$585,735
Expenses$610,336
Net Income-$24,601
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 1, 2021
Return Version
2020v4.1
Gross Receipts
$585,735
Mission and Program Overview

Mission

Develop, on a non-profit basis, a housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,517,614$9,559,593▲ $4,041,979
Cash and Non-Interest-Bearing Accounts$771,313$838,807▲ $67,494
Accounts Receivable$28,147$136,889▲ $108,742
Prepaid Expenses and Deferred Charges$21,136$2,606▼ $18,530
Total Assets$6,529,207$10,723,809▲ $4,194,602
Other Assets Total$190,997$185,914▼ $5,083
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,827,194$5,481,874▲ $3,654,680
Other Liabilities$279,828$841,139▲ $561,311
Accounts Payable and Accrued Expenses$4,564$17,092▲ $12,528
Deferred Revenue$15,760$6,444▼ $9,316
Total Liabilities$2,127,346$6,346,549▲ $4,219,203
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,401,861$4,377,260▼ $24,601
Total Net Assets Fund Balance$4,401,861$4,377,260▼ $24,601
Total Liabilities and Net Assets / Fund Balance$6,529,207$10,723,809▲ $4,194,602

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,949,594$85,755$5,035,349
Buildings$4,383,098$171,509$4,554,607
Land$226,901-$226,901
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Derrick OwensPresident
Dorothy AmadiSecretary
Natalie BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$582,537
Investment Income
$3,198
Other Revenue
$0
Change in Net Assets
$-24,601

Audited Revenue Reconciliation

Revenue per Audited Statements
$585,735
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$585,735
Total Revenue per Form 990
$585,735
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$610,336
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$181,013--$181,013
Occupancy$131,301--$131,301
Fees for Services Management$47,911$29,363-$77,274
Interest$60,299--$60,299
Insurance$50,814--$50,814
Fees for Services Accounting-$17,370-$17,370
Fees for Services Legal$5,425--$5,425
Fees for Services Other$3,333--$3,333
Other Expenses$2,652--$2,652
Office Expenses$1,294--$1,294
Total Functional Expenses$563,603$46,733$0$610,336

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$610,336
Total Expenses per Audited Statements$610,336
Total Expenses per Form 990$610,336
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
Construction and Development Costs Payable$816,389
Due to Affiliates$24,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization delegates management responsibility to mhany management inc.”

Form 990, Part VI, Section A, Line 8B

“Organization does not have any committees.”

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

“Form 990 will be completed annually and copies will be provided to the entire governing board as well as the president of the organization. At that time the president will review the form 990 with the designated board members, any necessary changes will then be updated on form. Once all necessary changes are made and the president is in agreement with the designated board members on the finished form 990, it will be signed by the president, dated and submitied by the filing deadline a copy of the approved form 990 will be provided to all of the officers, directors and trustees before the return is filed.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Mhany Dumont Housing Development Fund
EIN
83-4597057
Phone
7182468080
Address
470 VANDERBILT AVE 9TH FLOOR, BROOKLYN, NY 11238

Signing Officer

Name
Christine Simmons
Title
Finance Director
Phone
7182468080
Signed
2021-09-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ismene Speliotis
Formed
2019
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Lori Rothe Yokobosky CPA
Phone
9732283500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The corporation has applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the year ended december 31, 2020 and the period june 21, 2019 (date of acquisition) through december 31, 2019. Due to its tax exempt status, the corporation is not subject to income taxes. The corporation is required to file and does file informational returns with the irs and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the corporation has no other tax positions which must be considered for disclosure. Informational returns filed by the corporation are subject to examination by the irs for a period of three years. While no income tax returns are currently being examined by the irs, tax years since 2019 (the year of formation) remain open.”

Raw XML AppendixShowing 400 of 901 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/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 AND THE PERIOD JUNE 21, 2019 (DATE OF ACQUISITION) THROUGH DECEMBER 31, 2019. DUE TO ITS TAX EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE INFORMATIONAL RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INFORMATIONAL RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2019 (THE YEAR OF FORMATION) REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09559593
IRS990ScheduleD/TotalExpensesPerForm990Amt0610336
IRS990ScheduleD/TotalLiabilityAmt0841139
IRS990ScheduleD/TotalRevenuePerForm990Amt0585735
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0585735
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0610336
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES MANAGEMENT RESPONSIBILITY TO MHANY MANAGEMENT INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION DOES NOT HAVE ANY COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD AS WELL AS THE PRESIDENT OF THE ORGANIZATION. AT THAT TIME THE PRESIDENT WILL REVIEW THE FORM 990 WITH THE DESIGNATED BOARD MEMBERS, ANY NECESSARY CHANGES WILL THEN BE UPDATED ON FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE PRESIDENT IS IN AGREEMENT WITH THE DESIGNATED BOARD MEMBERS ON THE FINISHED FORM 990, IT WILL BE SIGNED BY THE PRESIDENT, DATED AND SUBMITIED BY THE FILING DEADLINE A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE OFFICERS, DIRECTORS AND TRUSTEES BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd10N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd11N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd12N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd13N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd14N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd15N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd16N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd17N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt16INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt17INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt01825 ATLANTIC MHANY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1730 ROCKAWAY INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2830 FOX STREET HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3ACORN STRAIGHT APARTMENTS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4ACORN BRISTOL HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5MHANY 2007 HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6MHANY 2013 HOLDINGS HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7MHANY 2015 HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt8MHANY 2015 MANAGER INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt9MHANY 3 INC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,723,809
Liabilities
$6,346,549
Net assets
$4,377,260
Revenue
$585,735
Expenses
$610,336
Net income
-$24,601
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$7.48$3.41$0.57$0.83$0.26
2023Detailed filing. Detailed filing data is available for this year.$11.1$7.47$3.67$0.62$0.88$0.26
2022Detailed filing. Detailed filing data is available for this year.$11.4$7.48$3.93$0.57$0.82$0.25
2021Detailed filing. Detailed filing data is available for this year.$11.7$7.57$4.18$0.47$0.67$0.20
2020Detailed filing. Detailed filing data is available for this year.$10.7$6.35$4.38$0.59$0.61$0.02
2019Summary only. Only limited summary data is available for this year.$6.53$2.13$4.40$0.28$0.27$0.00