Civic Intelligence

St. Johns Housing Development Fund Corporation

990 • Fiscal year 2023 • EIN 90-0732459

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 24, 2024

Organization ProfileWWW.LDCCH.ORG
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

99th percentile

1.56x

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

2023 filings • NTEE I • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

9.10x

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

2023 filings • NTEE I • $1M-$5M nonprofits • Source year 2023

Net Margin

6th percentile

-48%

Higher net margin than 6% of similar nonprofits.

2023 filings • NTEE I • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

81st percentile

$190,738

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 23.1% of source-year revenue.

2023 filings • NTEE I • $1M-$5M nonprofits • Source year 2023

Asset Growth

21st percentile

-5.2%

Faster asset growth than 21% of similar nonprofits.

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

Revenue Growth

45th percentile

4.4%

Faster revenue growth than 45% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets99th percentile

Assets

Flat

$4,830,904

Flat from 2023

Net Assets

Flat

-$2,694,375

Flat from 2023

Liabilities

Flat

$7,525,279

Flat from 2023

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin6th percentile

Revenue

Flat

$827,257

Flat from 2023

Expenses

Flat

$1,227,140

Flat from 2023

Net Income

Flat

-$399,883

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$10M$5.0M$0-$5.0MAssets 2011: $6,645,837Liabilities 2011: $6,687,759Net Assets 2011: -$41,9222011Assets 2012: $6,767,576Liabilities 2012: $7,000,453Net Assets 2012: -$232,8772012Assets 2013: $6,962,963Liabilities 2013: $7,069,443Net Assets 2013: -$106,4802013Assets 2014: $6,799,781Liabilities 2014: $7,082,958Net Assets 2014: -$283,1772014Assets 2015: $6,529,365Liabilities 2015: $7,057,719Net Assets 2015: -$528,3542015Assets 2016: $6,301,070Liabilities 2016: $7,068,063Net Assets 2016: -$766,9932016Assets 2017: $6,319,845Liabilities 2017: $7,080,586Net Assets 2017: -$760,7412017Assets 2018: $6,318,425Liabilities 2018: $7,046,348Net Assets 2018: -$727,9232018Assets 2019: $6,379,905Liabilities 2019: $7,049,718Net Assets 2019: -$669,8132019Assets 2020: $5,487,974Liabilities 2020: $7,119,922Net Assets 2020: -$1,631,9482020Assets 2021: $5,342,008Liabilities 2021: $7,325,996Net Assets 2021: -$1,983,9882021Assets 2022: $5,097,318Liabilities 2022: $7,391,810Net Assets 2022: -$2,294,4922022Assets 2023: $4,830,904Liabilities 2023: $7,525,279Net Assets 2023: -$2,694,3752023Assets 2023: $4,830,904Liabilities 2023: $7,525,279Net Assets 2023: -$2,694,3752023Assets 2024: $4,524,970Liabilities 2024: $7,489,482Net Assets 2024: -$2,964,5122024

Highlighted filing

2023

Assets$4,830,904
Liabilities$7,525,279
Net Assets-$2,694,375
Open 2023 Filing

Operations Trend

Revenue Growth45th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $376,199Expenses 2011: $418,141Net Income 2011: -$41,9422011Revenue 2012: $631,160Expenses 2012: $822,116Net Income 2012: -$190,9562012Revenue 2013: $957,961Expenses 2013: $831,564Net Income 2013: $126,3972013Revenue 2014: $751,294Expenses 2014: $927,991Net Income 2014: -$176,6972014Revenue 2015: $773,960Expenses 2015: $944,344Net Income 2015: -$170,3842015Revenue 2016: $799,600Expenses 2016: $1,014,239Net Income 2016: -$214,6392016Revenue 2017: $788,527Expenses 2017: $782,275Net Income 2017: $6,2522017Revenue 2018: $838,537Expenses 2018: $805,719Net Income 2018: $32,8182018Revenue 2019: $868,916Expenses 2019: $821,588Net Income 2019: $47,3282019Revenue 2020: $836,323Expenses 2020: $1,040,274Net Income 2020: -$203,9512020Revenue 2021: $813,935Expenses 2021: $1,165,975Net Income 2021: -$352,0402021Revenue 2022: $792,696Expenses 2022: $1,103,200Net Income 2022: -$310,5042022Revenue 2023: $827,257Expenses 2023: $1,227,140Net Income 2023: -$399,8832023Revenue 2023: $827,257Expenses 2023: $1,227,140Net Income 2023: -$399,8832023Revenue 2024: $862,991Expenses 2024: $1,133,128Net Income 2024: -$270,1372024

Highlighted filing

2023

Revenue$827,257
Expenses$1,227,140
Net Income-$399,883
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 24, 2024
Return Version
2023v5.0
Gross Receipts
$827,257
Mission and Program Overview

Mission

Organization provides low income affordable housing to families in brooklyn, ny.

Organization provides low income affordable housing to families in brroklyn, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,061,487$3,823,987▼ $237,500
Accounts Receivable$193,934$207,730▲ $13,796
Cash and Non-Interest-Bearing Accounts$17,070$156,230▲ $139,160
Prepaid Expenses and Deferred Charges$29,850$32,788▲ $2,938
Total Assets$5,097,318$4,830,904▼ $266,414
Other Assets Total$794,977$610,169▼ $184,808
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,961,942$6,964,073▲ $2,131
Accounts Payable and Accrued Expenses$264,916$399,973▲ $135,057
Other Liabilities$144,473$130,806▼ $13,667
Deferred Revenue$20,479$30,427▲ $9,948
Total Liabilities$7,391,810$7,525,279▲ $133,469
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,294,492$-2,694,375▼ $399,883
Total Net Assets Fund Balance$-2,294,492$-2,694,375▼ $399,883
Total Liabilities and Net Assets / Fund Balance$5,097,318$4,830,904▼ $266,414

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,775,395$2,942,050$6,717,445
Equipment$22,892$69,861$92,753
Land$25,700-$25,700
Other Assets Org$2,038--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleOtherTotal
Val HenryExecutive Di$190,738$190,738

Board Members and Trustees

NameTitle
Charles ThomasChairman
Alecia D MasonVice Chairma
Val HenryExecutive Director
C Allyson Franklin EsqMember
Kenneth L Pyle SrMember
Kenneth LaidlowMember
Michael Bailey EsqMember
Mildred SmithMember
Sonia ClarkeMember
Steve CromityMember
Victoria Powe-bittleMember
Von JosephMember
Cory SargeantTreasurer Pr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$811,970
Investment Income
$14,230
Other Revenue
$1,057
Change in Net Assets
$-399,883

Audited Revenue Reconciliation

Revenue per Audited Statements
$827,257
Revenue Not Reported on Form 990
$26,756
Total Revenue per Audited Statements
$854,013
Total Revenue per Form 990
$827,257
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,087,949
Salaries, Compensation, and Employee Benefits$139,191
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$385,232--$385,232
Depreciation Depletion$249,167--$249,167
Insurance$116,027--$116,027
Other Salaries and Wages$107,241--$107,241
Fees for Services Management-$78,504-$78,504
Fees for Services Legal-$28,096-$28,096
Fees for Services Accounting-$23,939-$23,939
Other Employee Benefits$22,859--$22,859
Payroll Taxes$9,091--$9,091
Office Expenses$9,055--$9,055
Other Expenses$14,563$4,611-$4,611
Fees for Services Other$3,347--$3,347
Interest$2,131--$2,131
Total Functional Expenses$1,069,741$157,399$0$1,227,140

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,253,896
Expenses per Audited Statements$1,227,140
Total Expenses per Form 990$1,227,140
Expenses Not Reported on Form 990$26,756
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
Due to Related Parties$70,593
Tenants Security Deposits Payable$60,213
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Page 6, Part VI, 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, Page 6, Part VI, Line 11B

“The board and the executive director of the project sponsor review form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The written conflict of interest policy requires all directors to complete disclosure forms annually. The treasurer ensures that all forms are submitted and reviewed with the executive committee for any that disclose actual or potential threats of conflict of interest.”

Form 990, Page 6, Part VI, Line 15A

“Board of directors review and approve executive salaries, as well as review and approve any increases to management salaries.”

Form 990, Page 6, Part VI, Line 15B

“Board of directors review and appprove executive salaries, as well as review and apporve any increases to management salaries.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy and audited financial statements are available upon request. In addition, the organization submits its nys char500 report with the new york state office of attorney general. The char500 report and audited financial statements are on the charities bureau website.”

Filing and Contact Details

Filer

Filer Name
ST JOHN'S HOUSING DEVELOPMENT FUND
EIN
90-0732459
Phone
2126655500
Address
230 KINGSTON AVENUE, BROOKLYN, NY 11213

Signing Officer

Name
Val Henry
Title
Executive Director
Phone
2126655500
Signed
2024-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Val Henry
Formed
2011
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Galleros Robinson
Address
115 DAVIS STATION RD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
6469210400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rent free unit 26,756 rent free unit -26,756”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization recognizes the effect of income tax positions only if those positions are more-likely-than-not be sustained upon examination of taxing authorities. Management has determined that the organization has no uncertain tax positions that would require financial statement recognition or disclosure. The organization is no longer subject to audits by the applicable taxing jurisdictions for years prior to 2020. Currently, there are no audits in progress.”

Schedule D, Page 4, Part XI, Line 2D

“RENT FREE UNIT 26,756”

Schedule D, Page 4, Part XII, Line 2D

“RENT FREE UNIT 26,756”

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IRS990/MissionDesc0ORGANIZATION PROVIDES LOW INCOME AFFORDABLE HOUSING TO FAMILIES IN BROOKLYN, NY.
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IRS990/OtherExpensesGrp/ProgramServicesAmt114563
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IRS990/OtherExpensesGrp/TotalAmt214563
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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt09091
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0811970
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt06172
IRS990/PYOtherExpensesAmt0947424
IRS990/PYOtherRevenueAmt011065
IRS990/PYProgramServiceRevenueAmt0775459
IRS990/PYRevenuesLessExpensesAmt0-310504
IRS990/PYSalariesCompEmpBnftPaidAmt0155776
IRS990/PYTotalExpensesAmt01103200
IRS990/PYTotalRevenueAmt0792696
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-399883
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0813027
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 80,141
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt014230
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt06172
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt05993
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt012613
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0811970
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0775459
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0795605
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0828402
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0822202
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04033638
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt014230
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt06172
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt05993
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt012613
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt039008
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01057
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt011065
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt07921
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt047761
IRS990ScheduleA/OtherIncome509Grp/TotalAmt080141
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97130
IRS990ScheduleA/PublicSupportPY509Pct00.96710
IRS990ScheduleA/PublicSupportTotal509Amt04033638
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0811970
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0775459
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IRS990ScheduleA/Total509Grp/TotalAmt04033638
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0827257
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0792696
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0813935
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0836323
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0882576
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04152787
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03775395
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02942050
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06717445
IRS990ScheduleD/EquipmentGrp/BookValueAmt022892
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069861
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt092753
IRS990ScheduleD/ExpensesNotReportedAmt026756
IRS990ScheduleD/ExpensesSubtotalAmt01227140
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt025700
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt025700
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0430338
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1105203
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt260213
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt312377
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt42038
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVCE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3OTHERS ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DUE FROM RELATED PARTIES
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IRS990ScheduleD/RevenueNotReportedAmt026756
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION OF TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO 2020. CURRENTLY, THERE ARE NO AUDITS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENT FREE UNIT 26,756
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENT FREE UNIT 26,756
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,830,904
Liabilities
$7,525,279
Net assets
-$2,694,375
Revenue
$827,257
Expenses
$1,227,140
Net income
-$399,883
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.52$7.49$2.96$0.86$1.13$0.27
2023Detailed filing. Detailed filing data is available for this year.$4.83$7.53$2.69$0.83$1.23$0.40
2023Summary only. Only limited summary data is available for this year.$4.83$7.53$2.69$0.83$1.23$0.40
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.10$7.39$2.29$0.79$1.10$0.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$7.33$1.98$0.81$1.17$0.35
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.49$7.12$1.63$0.84$1.04$0.20
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.38$7.05$0.67$0.87$0.82$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.32$7.05$0.73$0.84$0.81$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.32$7.08$0.76$0.79$0.78$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.30$7.07$0.77$0.80$1.01$0.21
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.53$7.06$0.53$0.77$0.94$0.17
2014Summary only. Only limited summary data is available for this year.$6.80$7.08$0.28$0.75$0.93$0.18
2013Detailed filing. Detailed filing data is available for this year.$6.96$7.07$0.11$0.96$0.83$0.13
2012Summary only. Only limited summary data is available for this year.$6.77$7.00$0.23$0.63$0.82$0.19
2011Summary only. Only limited summary data is available for this year.$6.65$6.69$0.04$0.38$0.42$0.04