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← ACTORS FUND HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by ACTORS FUND HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,701,938
Total expenses
$3,679,532
Contributions and grants received
$943,555
Grants paid
$0
Program service revenue
$1,756,889
Investment income
$1,494
Other revenue
$0
Total assets, end of year
$16,892,978
Total liabilities, end of year
$21,619,888
Net assets or fund balances, end of year
-$4,726,910
Program services expenses (Part IX)
$3,658,684
Management and general expenses
$20,848
Fundraising expenses
$0
Program service expenses (Part III)
$3,658,684

Program services were 99.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $943,482

  • 1f · All other contributions, gifts and grants

    $73

  • 2a · Program service revenue: TENANT RENTAL REVENUE

    total $1,617,739 · related or exempt $1,617,739

  • 2b · Program service revenue: FEE FOR SERVICE INCOME

    total $139,150 · related or exempt $139,150

  • 3 · Investment income

    total $1,494 · excluded $1,494

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $263,282 · program services $263,282

  • 8 · Pension plan contributions

    total $11,062 · program services $11,062

  • 9 · Other employee benefits

    total $14,704 · program services $14,704

  • 10 · Payroll taxes

    total $26,278 · program services $26,278

  • 11a · Fees: management

    total $906,211 · program services $906,211

  • 11b · Fees: legal

    total $62,031 · program services $62,031

  • 11c · Fees: accounting

    total $20,001 · management and general $20,001

  • 11g · Fees: other

    total $36,646 · program services $36,646

  • 13 · Office expenses

    total $201,377 · program services $200,530 · management and general $847

  • 14 · Information technology

    total $16,360 · program services $16,360

  • 16 · Occupancy

    total $702,154 · program services $702,154

  • 17 · Travel

    total $4,039 · program services $4,039

  • 19 · Conferences, conventions and meetings

    total $725 · program services $725

  • 20 · Interest

    total $41,006 · program services $41,006

  • 22 · Depreciation, depletion and amortization

    total $779,178 · program services $779,178

  • 23 · Insurance

    total $202,119 · program services $202,119

  • 24a · Other expenses: SECURITY

    total $383,243 · program services $383,243

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $9,116 · program services $9,116

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,365,484 · end of year $1,570,284

  • 2 · Savings and temporary cash investments

    beginning of year $103,838 · end of year $105,333

  • 4 · Accounts receivable

    beginning of year $115,011 · end of year $171,081

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,761 · end of year $67,387

  • 10a · Land, buildings and equipment: cost or other basis

    $22,759,056

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,780,163

  • 10c · Land, buildings and equipment, net

    beginning of year $15,695,050 · end of year $14,978,893

  • 17 · Accounts payable and accrued expenses

    beginning of year $163,481 · end of year $206,314

  • 19 · Deferred revenue

    beginning of year $39,078 · end of year $79,930

  • 23 · Secured mortgages and notes payable

    beginning of year $19,667,962 · end of year $19,604,340

  • 25 · Other liabilities

    beginning of year $1,218,939 · end of year $1,729,304

  • 27 · Net assets without donor restrictions

    beginning of year -$3,749,316 · end of year -$4,726,910

Mission and programs · 2022

Mission

TO DEVELOP AFFORDABLE HOUSING FOR THE PERFORMING ARTS COMMUNITY THAT IMPROVES LIVES, FOSTERS ECONOMIC DEVELOPMENT AND REVITALIZES COMMUNITIES. (CONTINUED IN SCHEDULE O).AFHDC EDUCATES THE PERFORMING ARTS AND ENTERTAINMENT COMMUNITY ABOUT AFFORDABLE HOUSING AND THE APPLICATION PROCESS AND WORK WITH DEVELOPERS AND GOVERNMENT ENTITIES TO INCREASE AFFORDABLE HOUSING OPPORTUNITIES FOR THE PERFORMING ARTS AND ENTERTAINMENT COMMUNITY.

Activities or mission (Part I)

TO DEVELOP AFFORDABLE HOUSING FOR THE PERFORMING ARTS & ENTERTAINMENT COMMUNITY.

  • THE DOROTHY ROSS FRIEDMAN RESIDENCE, LOCATED AT 475 WEST 57TH STREET IN NEW YORK CITY, HAS 178 SHARED RESIDENTIAL UNITS PROVIDING SUPPORTIVE HOUSING TO SPECIAL LOW-INCOME GROUPS INCLUDING SENIORS, WORKING PROFESSIONALS AND PEOPLE LIVING WITH HIV/AIDS. ON-SITE SOCIAL SERVICES ARE PROVIDED, INCLUDING INFORMATION AND REFERRAL TO COMMUNITY RESOURCES, ENTITLEMENT PROGRAM ADVOCACY, COORDINATION OF HOME CARE AND MEDICAL SERVICES, OUTREACH, HEALTH EDUCATION, SUPPORT GROUPS. FOR MORE INFORMATION, PLEASE VISIT - WWW.ENTERTAINMENTCOMMUNITY.ORG/SERVICES-AND-PROGRAMS/DOROTHY-ROSS-FRIEDMAN-RESIDENCE.

    Expenses $3,264,852 · Revenue $1,617,739

  • A SUBSIDIARY OF THE ACTORS FUND, AFHDC WAS CREATED TO DEVELOP NEW AFFORDABLE HOUSING FOR THE PERFORMING ARTS AND ENTERTAINMENT COMMUNITY. OUR HOUSING PORTFOLIO CONSISTS OF 558 UNITS SPANNING FOUR MAJOR DEVELOPMENTS, ALL OF WHICH ARE CONNECTED TO SUPPORTIVE SERVICES.

    Expenses $393,765 · Revenue $139,122

  • THE PALM VIEW, LOCATED AT 980 NORTH PALM, IS A 40-UNIT APARTMENT COMPLEX THAT PROVIDES HOMES TO LOW-INCOME PEOPLE WITH DISABILITIES OR WHO ARE LIVING WITH HIV/AIDS IN WEST HOLLYWOOD, CALIFORNIA. FOR MORE INFORMATION, PLEASE VISIT - WWW.ENTERTAINMENTCOMMUNITY.ORG/SERVICES-AND-PROGRAMS/PALM-VIEW.

    Expenses $67 · Revenue $28

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joseph Benincasa

    PRESIDENT

    Total calculated
    $681,378
    From this org
    $0
    From related orgs
    $563,888
    Other
    $117,490
    Hours/week
    10 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $453,870 related
    Bonus
    $0 + $14,018 related
    Other
    $0 + $96,000 related
    Deferred
    $0 + $82,030 related
    Nontaxable benefits
    $0 + $35,460 related
    Filer's total
    $0 + $681,378 related

  • Barbara Davis

    SECRETARY

    Total calculated
    $468,635
    From this org
    $0
    From related orgs
    $369,876
    Other
    $98,759
    Hours/week
    10 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $350,608 related
    Bonus
    $0 + $10,868 related
    Other
    $0 + $8,400 related
    Deferred
    $0 + $61,861 related
    Nontaxable benefits
    $0 + $36,898 related
    Filer's total
    $0 + $468,635 related

  • Keith McNutt

    VICE PRESIDENT

    Total calculated
    $300,520
    From this org
    $0
    From related orgs
    $227,288
    Other
    $73,232
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,536 related
    Bonus
    $0 + $6,750 related
    Other
    $0 + $10,002 related
    Deferred
    $0 + $32,983 related
    Nontaxable benefits
    $0 + $40,249 related
    Filer's total
    $0 + $300,520 related

  • Karen Wang

    TREASURER

    Total calculated
    $191,446
    From this org
    $0
    From related orgs
    $145,723
    Other
    $45,723
    Hours/week
    10 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,133 related
    Bonus
    $0 + $4,590 related
    Other
    $0
    Deferred
    $0 + $11,895 related
    Nontaxable benefits
    $0 + $33,828 related
    Filer's total
    $0 + $191,446 related

  • Daniel Arnow - Vice President

    & EXECUTIVE DIRECTOR

    Total calculated
    $172,300
    From this org
    $0
    From related orgs
    $159,153
    Other
    $13,147
    Hours/week
    10 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $154,428 related
    Bonus
    $0 + $4,725 related
    Other
    $0
    Deferred
    $0 + $10,883 related
    Nontaxable benefits
    $0 + $2,264 related
    Filer's total
    $0 + $172,300 related

  • Robert Wankel

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Abby Hamlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rocco Landesman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stewart Lane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anthony Marchetta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wendy Rowden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Walsh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Weiss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Wender

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David White

    DIRECTOR (THRU 07/2022)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Connie Yoo

    FORMER TREASURER

    Total calculated
    $392,397
    From this org
    $0
    From related orgs
    $302,479
    Other
    $89,918
    Hours/week
    0 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,101 related
    Bonus
    $0 + $8,978 related
    Other
    $0 + $8,400 related
    Deferred
    $0 + $50,220 related
    Nontaxable benefits
    $0 + $39,698 related
    Filer's total
    $0 + $392,397 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

The filer's explanations (Part III)

PART I, LINE 3
ACTORS FUND HOUSING DEVELOPMENT CORPORATION ("AFHDC") DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED IN SCHEDULE J OF THE FORM 990; COMPENSATION REPORTED IN THAT SCHEDULE IS PAID BY ITS PARENT ORGANIZATION, THE ACTORS' FUND OF AMERICA ("AFA"). SINCE AFHDC DOES NOT PROVIDE ANY COMPENSATION, SCHEDULE J, PART I, QUESTION 3 IS LEFT BLANK. FOR MORE INFORMATION ABOUT THE PROCEDURES EMPLOYED TO DETERMINE THE COMPENSATION OF THE INDIVIDUALS REPORTED ON THE AFHDC FORM 990, PLEASE REFER TO SCHEDULE J OF THE AFA FORM 990.
PART I, LINE 4B
FOR THE YEAR ENDING DECEMBER 31, 2022, JOSEPH BENINCASA - PRESIDENT & CEO, BARBARA DAVIS - CHIEF OPERATING OFFICER, AND CONNIE YOO - CHIEF FINANCIAL OFFICER PARTICIPATED IN THE RELATED ORGANIZATION'S SUPPLEMENTAL 457(F) NONQUALIFIED RETIREMENT PLAN. SECTION 457(F) DEFERRALS FOR THESE INDIVIDUALS WERE $38,052, $17,891, AND $6,087, RESPECTIVELY, AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FRIEDMAN RESIDENCE LLC

    HOUSING · NY · income $2,503,097 · assets $15,750,268

    Directly controlled by AFHDC

  • ACTORS FUND - CARNEGIE LLC

    REAL ESTATE · NY · income $15,000 · assets $0

    Directly controlled by AFHDC

  • ACTORS FUND - ASHLAND LLC

    REAL ESTATE · NY · income $15,000 · assets $0

    Directly controlled by AFHDC

  • ACTORS FUND 980 NORTH PALM LLC

    HOUSING · CA · income $0 · assets $0

    Directly controlled by AFHDC

  • ACTORS-HAC LLC

    HOUSING · CA · income $0 · assets $0

    Directly controlled by AFHDC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 980 NORTH PALM LP

    RELATED · HOUSING · CA · 0.01% owned · share of income $40 · share of assets $673 · general or managing partner

  • THE HOLLYWOOD ARTS COLLECTIVE LP

    RELATED · HOUSING · CA · 0.01% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202312989349301211

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