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Nonprofiteer
← N S COMMUNITY PLANNING AND DEVELOPMENT CORP

Form 990 for tax year 2024

Filed by N S COMMUNITY PLANNING AND DEVELOPMENT CORP.

Totals

Total revenue
$12,435,545
Total expenses
$2,547,500
Contributions and grants received
$0
Grants paid
$1,200,000
Program service revenue
$11,947,797
Investment income
$400,554
Other revenue
$87,194
Total assets, end of year
$11,507,750
Total liabilities, end of year
$24,473
Net assets or fund balances, end of year
$11,483,277
Program services expenses (Part IX)
$2,315,695
Management and general expenses
$231,805
Fundraising expenses
$0
Program service expenses (Part III)
$2,315,695

Program services were 90.9% 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: SALE OF UNITS

    total $10,638,579 · related or exempt $10,638,579

  • 2b · Program service revenue: MANAGEMENT FEES

    total $1,309,218 · related or exempt $1,309,218

  • 3 · Investment income

    total $257,106 · excluded $257,106

  • 6a · Gross rents

    real property $78,725

  • 6c · Rental income or loss

    real property $78,725

  • 6d · Net rental income or loss

    total $78,725 · excluded $78,725

  • 7a · Gross sales of assets other than inventory

    securities $143,448

  • 7c · Gain or loss

    securities $143,448

  • 7d · Net gain or loss

    total $143,448 · related or exempt $143,448

  • 11a · Other revenue: OTHER INCOME

    total $8,469 · related or exempt $8,469

  • 11e · Other revenue, total

    $8,469

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,200,000 · program services $1,200,000

  • 5 · Compensation of officers, directors and key employees

    total $129,033 · program services $105,126 · management and general $23,907

  • 7 · Other salaries and wages

    total $406,403 · program services $331,105 · management and general $75,298

  • 9 · Other employee benefits

    total $11,556 · program services $9,245 · management and general $2,311

  • 10 · Payroll taxes

    total $47,730 · program services $38,185 · management and general $9,545

  • 11b · Fees: legal

    total $5,230 · program services $4,184 · management and general $1,046

  • 11c · Fees: accounting

    total $43,500 · program services $34,800 · management and general $8,700

  • 11g · Fees: other

    total $112,915 · program services $90,332 · management and general $22,583

  • 12 · Advertising and promotion

    total $510 · program services $510

  • 13 · Office expenses

    total $85,630 · program services $68,504 · management and general $17,126

  • 16 · Occupancy

    total $78,766 · program services $72,372 · management and general $6,394

  • 20 · Interest

    total $272,043 · program services $217,634 · management and general $54,409

  • 22 · Depreciation, depletion and amortization

    total $20,381 · program services $20,381

  • 23 · Insurance

    total $27,464 · program services $21,971 · management and general $5,493

  • 24a · Other expenses: CONTRACT SERVICES

    total $36,750 · program services $36,750

  • 24b · Other expenses: MISCELLANEOUS

    total $36,308 · program services $31,315 · management and general $4,993

  • 24c · Other expenses: PROGRAM EXPENSES

    total $33,281 · program services $33,281

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $380,105 · end of year $270,800

  • 2 · Savings and temporary cash investments

    beginning of year $527,439 · end of year $397,115

  • 4 · Accounts receivable

    beginning of year $786,667 · end of year $700,000

  • 7 · Other notes and loans receivable

    beginning of year $93,500 · end of year $151,315

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

    $381,037

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

    $179,172

  • 10c · Land, buildings and equipment, net

    beginning of year $222,245 · end of year $201,865

  • 11 · Investments: publicly traded securities

    beginning of year $207,696 · end of year $8,027,277

  • 12 · Investments: other securities

    beginning of year $1,983,051 · end of year $1,759,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,619 · end of year $24,473

  • 23 · Secured mortgages and notes payable

    beginning of year $1,100,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,063,084 · end of year $11,483,277

Mission and programs · 2024

Mission

PERFORMING COMMUNITY & ECONOMIC DEVELOPMENT ACTIVITIES

  • ASSISTED THE LOCAL HOUSING AUTHORITY AND OTHER HOUSING RELATED ENTITIES IN MANAGING VARIOUS GOVERNMENT HOUSING PROGRAMS

    Expenses $2,315,695 · Grants $1,200,000 · Revenue $11,947,797

As filed on the 2024 return.

Listed in Part VII

  • Betty Mermelstein

    EXEC DIR./SE

    Total calculated
    $129,033
    From this org
    $129,033
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Abraham Biston

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jacob Braun

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Benjamin Spitzer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

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 partnerships

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

  • NEW SQUARE LP

    REAL ESTAT · NY · 98% owned

  • NSCPDC LP

    REAL ESTAT · NY · 99.5% owned

  • NEW SQUARE LP II

    REAL ESTAT · NY · 99% owned

  • NEW SQUARE LP III

    REAL ESTAT · NY · 99.9% owned

Related corporations and trusts

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

  • 798 CLEVELAND CORPORATION

    REAL ESTAT · NY · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
10 June 2025
IRS schema version
2024v5.0
Source object
202541749349300339

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