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← NEW VISION HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by NEW VISION HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$283,645
Total expenses
$482,585
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$283,518
Investment income
$127
Other revenue
$0
Total assets, end of year
$4,319,385
Total liabilities, end of year
$4,682,501
Net assets or fund balances, end of year
-$363,116
Program services expenses (Part IX)
$448,385
Management and general expenses
$34,200
Fundraising expenses
$0
Program service expenses (Part III)
$448,385

Program services were 92.9% 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: HOUSING PROGRAM

    total $283,518 · related or exempt $283,518

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $127 · excluded $127

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 8 · Pension plan contributions

    total $1,383 · program services $1,383

  • 11a · Fees: management

    total $31,525 · program services $25,753 · management and general $5,772

  • 11c · Fees: accounting

    total $2,675 · program services $2,675

  • 11g · Fees: other

    total $9,850 · program services $9,850 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,109 · program services $2,109

  • 16 · Occupancy

    total $129,364 · program services $129,364

  • 20 · Interest

    total $104 · program services $104

  • 22 · Depreciation, depletion and amortization

    total $245,739 · program services $245,739

  • 23 · Insurance

    total $17,517 · program services $17,517

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $42,319 · program services $13,891 · management and general $28,428

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $565,702 · end of year $644,149

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,302 · end of year $220

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

    $4,572,241

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

    $1,799,661

  • 10c · Land, buildings and equipment, net

    beginning of year $3,018,320 · end of year $2,772,580

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $752,219 · end of year $902,436

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,247 · end of year $25,813

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $3,275,765 · end of year $3,275,764

  • 25 · Other liabilities

    beginning of year $1,215,707 · end of year $1,380,924

  • 27 · Net assets without donor restrictions

    beginning of year -$164,176 · end of year -$363,116

Mission and programs · 2023

Mission

TO ACQUIRE, DEVELOP, AND MANAGE HOUSING PROJECTS FOR PERSONS OF LOW INCOME.

  • TO ACQUIRE, DEVELOP, AND MANAGE HOUSING PROJECTS FOR PERSONS OF LOW INCOME.

    Expenses $448,385 · Revenue $283,518

As filed on the 2023 return.

Listed in Part VII

  • AURELIA CURTIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JANET H JONES

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • PETER TESORIERO

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • TIMOTHY C HARRISON ESQ

    FIRST VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JO M REYES

    CFO (END 07/16/2023)

    Total calculated
    $132,724
    From this org
    $0
    From related orgs
    $128,569
    Other
    $4,155
    Hours/week
    1 + 34 related

  • LUIS PICO

    CFO (START 11/01/2023)

    Total calculated
    $27,232
    From this org
    $0
    From related orgs
    $27,232
    Other
    $0
    Hours/week
    1 + 34 related

  • TERRY TROIA

    CEO

    Total calculated
    $174,956
    From this org
    $0
    From related orgs
    $170,897
    Other
    $4,059
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,897 related
    Bonus
    $0
    Other
    $0 + $24,000 related
    Deferred
    $0 + $4,059 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $174,956 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

  • PROJECT HOSPITALITY INC

    501(c)(3) · TO PROVIDE COUNSELING, FOOD, AND SHELTER TO HOMELESS INDIVIDUALS · NY

    Directly controlled by NA

  • PROJECT HOSPITALITY 385 HDFC

    501(c)(3) · TO PROVIDE COUNSELING, FOOD, AND SHELTER TO HOMELESS INDIVIDUALS · NY

    Directly controlled by PROJECT HOSPITALITY INC

  • CASTLETON HDFC

    501(c)(4) · TO PROVIDE COUNSELING, FOOD, AND SHELTER TO HOMELESS INDIVIDUALS · NY

    Directly controlled by PROJECT HOSPITALITY INC

  • WATERSHED ASSOCIATES INC

    501(c)(2) · TO PROVIDE COUNSELING, FOOD, AND SHELTER TO HOMELESS INDIVIDUALS · NY

    Directly controlled by PROJECT HOSPITALITY INC

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PH CASTLETON INC

    C Corporation · HOUSING · NY · 100% owned · share of income $0 · share of assets $0

    Directly controlled by PHI INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349304222

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