Skip to content
Nonprofiteer
← WALTON AVENUE SENIOR HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by WALTON AVENUE SENIOR HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$1,378,292
Total expenses
$1,468,434
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,342,739
Investment income
$10,897
Other revenue
$24,656
Total assets, end of year
$5,572,476
Total liabilities, end of year
$8,359,560
Net assets or fund balances, end of year
-$2,787,084
Program services expenses (Part IX)
$1,167,635
Management and general expenses
$300,799
Fundraising expenses
$0
Program service expenses (Part III)
$1,167,635

Program services were 79.5% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $1,342,739 · related or exempt $1,342,739

  • 3 · Investment income

    total $10,897 · excluded $10,897

  • 11a · Other revenue: OTHER INCOME

    total $24,656 · related or exempt $24,656

  • 11e · Other revenue, total

    $24,656

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $257,740 · program services $205,715 · management and general $52,025

  • 8 · Pension plan contributions

    total $8,087 · program services $6,455 · management and general $1,632

  • 9 · Other employee benefits

    total $55,896 · program services $44,613 · management and general $11,283

  • 10 · Payroll taxes

    total $21,401 · program services $17,081 · management and general $4,320

  • 11a · Fees: management

    total $52,200 · management and general $52,200

  • 11b · Fees: legal

    total $6,948 · management and general $6,948

  • 11c · Fees: accounting

    total $32,836 · management and general $32,836

  • 11g · Fees: other

    total $78,457 · management and general $78,457

  • 13 · Office expenses

    total $32,443 · management and general $32,443

  • 16 · Occupancy

    total $344,625 · program services $344,625

  • 20 · Interest

    total $194,651 · program services $194,651

  • 22 · Depreciation, depletion and amortization

    total $192,385 · program services $192,385

  • 23 · Insurance

    total $66,256 · program services $66,256

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $95,854 · program services $95,854

  • 24b · Other expenses: BAD DEBT

    total $16,126 · management and general $16,126

  • 24c · Other expenses: MISCELLANEOUS

    total $12,529 · management and general $12,529

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $49,540 · end of year $15,416

  • 4 · Accounts receivable

    beginning of year $35,483 · end of year $35,889

  • 9 · Prepaid expenses and deferred charges

    beginning of year $70,135 · end of year $75,648

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

    $8,965,964

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

    $5,212,773

  • 10c · Land, buildings and equipment, net

    beginning of year $3,095,232 · end of year $3,753,191

  • 15 · Other assets

    beginning of year $2,044,465 · end of year $1,692,332

  • 17 · Accounts payable and accrued expenses

    beginning of year $847,648 · end of year $1,354,654

  • 19 · Deferred revenue

    beginning of year $4,470 · end of year $3,587

  • 23 · Secured mortgages and notes payable

    beginning of year $7,118,896 · end of year $6,979,465

  • 25 · Other liabilities

    beginning of year $20,783 · end of year $21,854

  • 27 · Net assets without donor restrictions

    beginning of year -$2,696,942 · end of year -$2,787,084

Mission and programs · 2023

Mission

WALTON AVENUE SENIOR HOUSING DEVELOPMENT FUND CORPORATION (THE "CORPORATION") WAS ORGANIZED FOR THE CHARITABLE PURPOSE OF DEVELOPING A SENIOR HOUSING PROJECT AT 1181 WALTON AVE, BRONX, NY.

Activities or mission (Part I)

WALTON AVENUE SENIOR HOUSING DEVELOPMENT FUND CORPORATION(THE "CORPORATION") WAS ORGANIZED FOR THE CHARITABLE PURPOSE OF DEVELOPING A SENIOR HOUSING PROJECT AT 1181 WALTON AVE, BRONX, NY.

  • THE CORPORATION IS A NON-PROFIT ORGANIZATION ORGANIZED UNDER THE LAW OF THE STATE OF NEW YORK, FOR THE PURPOSE OF DEVELOPING AND OPERATING THE FANNIE LOU HAMMER HOUSES (THE "PROJECT"), A 75-UNIT PROJECT CONSISTING OF EIGHTEEN (18) STUDIO RENTAL UNITS, FIFTY-SIX (56) ONE BEDROOM RENTAL UNITS AND ONE (1) MANAGER'S UNIT, LOCATED AT 1181 - 1183 WALTON AVENUE, BRONX, NEW YORK.

    Expenses $1,167,635 · Revenue $1,367,395

As filed on the 2023 return.

Listed in Part VII

  • Dr Joe Albert Bush Sr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mary Coleman

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeanette Puryear

    SEC AND TREA

    Total calculated
    $311,124
    From this org
    $0
    From related orgs
    $274,814
    Other
    $36,310
    Hours/week
    1 + 21 related

    Schedule J breakdown matched by us

    Base
    not reported + $274,814 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $36,310 related
    Filer's total
    not reported + $311,124 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202511209349303766

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.