Civic Intelligence

92-54 Qb Housing Development Fund

EIN 88-1089919 • 501(c)3 • Yonkers, NY

Profile

Re-develop real property located at 92-54 queens boulevard, queens, new york, into transitional housing for homeless adults.

c/o Westhab 8 Bashford StreetYonkers, NY 10701

www.westhab.org

Siviq Scores

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

Liabilities / Assets

96th percentile

1.00x

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

NTEE P • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

82.71x

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

NTEE P • $50M-$100M nonprofits • Source year 2024

Net Margin

27th percentile

0.1%

Higher net margin than 27% of similar nonprofits.

NTEE P • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

76th percentile

$534,607

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 66.7% of source-year revenue.

NTEE P • $50M-$100M nonprofits • Source year 2024

Asset Growth

13th percentile

-3.7%

Faster asset growth than 13% of similar nonprofits.

NTEE P • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

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

Annualized from 2023 to 2024

Assets

Down

$66,243,924

Down $2,563,963 (-3.7%) from 2023

Liabilities

Down

$66,243,297

Down $2,564,588 (-3.7%) from 2023

Net Assets

Up

$627

Up $625 (+31250%) from 2023

Revenue

Up

$800,944

Up $800,944 from 2023

Expenses

Up

$800,319

Up $800,319 from 2023

Net Income

Up

$625

Up $625 from 2023

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2022: $67,591,938Liabilities 2022: $67,591,936Net Assets 2022: $22022Assets 2023: $68,807,887Liabilities 2023: $68,807,885Net Assets 2023: $22023Assets 2024: $66,243,924Liabilities 2024: $66,243,297Net Assets 2024: $6272024

Highlighted filing

2024

Assets$66,243,924
Liabilities$66,243,297
Net Assets$627

Operations Trend

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

$1.0M$500K$0Revenue 2022: $2Expenses 2022: $0Net Income 2022: $22022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $800,944Expenses 2024: $800,319Net Income 2024: $6252024

Highlighted filing

2024

Revenue$800,944
Expenses$800,319
Net Income$625

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$800,944
Mission and Program Overview

Mission

Re-develop real property located at 92-54 queens boulevard, queens, new york, into transitional housing for homeless adults.

Social service agency providing shelter to individuals in need. We offer permanent housing, transitional shelter, single room occupancy as well as emergency shelters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$50,568,332$60,888,619▲ $10,320,287
Intangible Assets$0$1,641,130▲ $1,641,130
Cash and Non-Interest-Bearing Accounts$230,451$48,017▼ $182,434
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$68,807,887$66,243,924▼ $2,563,963
Other Assets Total$18,009,104$3,666,158▼ $14,342,946
Liabilities
Mortgage Notes Payable Secured by Investment Property$66,285,000$66,135,000▼ $150,000
Other Liabilities$87,745$108,125▲ $20,380
Accounts Payable and Accrued Expenses$2,435,140$172▼ $2,434,968
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$68,807,885$66,243,297▼ $2,564,588
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2$627▲ $625
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2$627▲ $625
Total Liabilities and Net Assets / Fund Balance$68,807,887$66,243,924▼ $2,563,963

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$47,765,841$199,857$47,965,698
Land$13,122,778-$13,122,778
Other Assets Org$898,434--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard NightingaleDIRECTOR/chair
James CoughlinDIRECTOR/vice chair
Andrew GermanskyDIRECTOR/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
SD Builders Construction LLCConstruction38 E 29th Street Floor 9, New York, NY 10016-7911$5,273,799
wxllspace incproperty developers40 McNair Drive Unit 4D, Mahopac, NY 10541$101,843
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$779,553
Investment Income
$21,391
Other Revenue
$0
Change in Net Assets
$625
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$800,319
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
Interest$587,395--$587,395
Depreciation Depletion$209,025--$209,025
Fees for Services Accounting-$2,400-$2,400
Office Expenses-$1,499-$1,499
Total Functional Expenses$796,420$3,899$0$800,319
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$108,125
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The organization distributes a copy of the draft 990 to the board for review.

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

Once a year board members complete a review of the conflict of interest policy and complete disclosures.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
92-54 QB Housing Development Fund
EIN
88-1089919
In Care Of
% STEPHANIE VIOLA
Phone
9143452800
Address
c/o Westhab 8 Bashford Street, Yonkers, NY 10701

Signing Officer

Name
Richard Nightingale
Title
Director
Phone
9143452800
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Nightingale
Formed
2022
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Michael Pintabone
Phone
7328281614
Supplemental Narrative

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

Westhab and certain affiliates are exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been reflected in the accompanying consolidated financial statements associated with these entities. Certain other affiliates such as the tax credit entities are partnerships treated as pass-through entities for federal and state reporting purposes. No provision or liability for federal or state income taxes has been recorded in the consolidated financial statements because all income or loss is passed through to the partners. The company has no unrecognized income tax liabilities and had no income tax related penalties or interest for the years ended december 31, 2024 and 2023. Furthermore, there are no tax related interest or penalties included in the consolidated financial statements.

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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
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IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0061064281
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0800319
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0WESTHAB INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0800319
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt047765841
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0199857
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt047965698
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt013122778
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt013122778
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02767724
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1898434
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108125
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WESTHAB AND CERTAIN AFFILIATES ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS ASSOCIATED WITH THESE ENTITIES. CERTAIN OTHER AFFILIATES SUCH AS THE TAX CREDIT ENTITIES ARE PARTNERSHIPS TREATED AS PASS-THROUGH ENTITIES FOR FEDERAL AND STATE REPORTING PURPOSES. NO PROVISION OR LIABILITY FOR FEDERAL OR STATE INCOME TAXES HAS BEEN RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS BECAUSE ALL INCOME OR LOSS IS PASSED THROUGH TO THE PARTNERS. THE COMPANY HAS NO UNRECOGNIZED INCOME TAX LIABILITIES AND HAD NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. FURTHERMORE, THERE ARE NO TAX RELATED INTEREST OR PENALTIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule D, Part X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt060888619
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03666158
IRS990ScheduleD/TotalLiabilityAmt0108125
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0480628
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1364048
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2332878
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt024150
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt124150
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt223301
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt029829
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt129829
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt229829
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RICHARD NIGHTINGALE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JAMES COUGHLIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ANDREW GERMANSKY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR/chair
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR/vice chair
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2DIRECTOR/treasurer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0534607
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1418027
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2386008
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION SPONSORS A 457(F) RETIREMENT PLAN.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE J, PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DISTRIBUTES A COPY OF THE DRAFT 990 TO THE BOARD FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ONCE A YEAR BOARD MEMBERS COMPLETE A REVIEW OF THE CONFLICT OF INTEREST POLICY AND COMPLETE DISCLOSURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WESTHAB INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0061064281
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Housing
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt08 BASHFORD STREET

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