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Nonprofiteer
← 4NYC HOUSING INC

Form 990 for tax year 2022

Filed by 4NYC HOUSING INC.

Totals

Total revenue
$689,000
Total expenses
$163,885
Contributions and grants received
$689,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,612,277
Total liabilities, end of year
$2,099,915
Net assets or fund balances, end of year
$512,362
Program services expenses (Part IX)
$163,885
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$163,885

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $689,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $18,000 · program services $18,000

  • 11b · Fees: legal

    total $1,020 · program services $1,020

  • 11g · Fees: other

    total $17,394 · program services $17,394

  • 13 · Office expenses

    total $31 · program services $31

  • 17 · Travel

    total $101 · program services $101

  • 20 · Interest

    total $57,957 · program services $57,957

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $68,300 · program services $68,300

  • 24b · Other expenses: SUPPLIES

    total $762 · program services $762

  • 24c · Other expenses: MISCELLANEOUS

    total $295 · program services $295

  • 24d · Other expenses: FILING FEES

    total $25 · program services $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,183,020 · end of year $114,063

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

    $1,929,914

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,385,094 · end of year $1,929,914

  • 15 · Other assets

    beginning of year $0 · end of year $568,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $225,772 · end of year $104,811

  • 25 · Other liabilities

    beginning of year $3,575,960 · end of year $1,995,104

  • 27 · Net assets without donor restrictions

    beginning of year -$233,618 · end of year $512,362

Mission and programs · 2022

Mission

THE PROJECT AS DESCRIBED AS A LOW INCOME AFFORDABLE HOUSING PROJECT. THE FACILITY WILL BE FUNDED THROUGH SOCIAL FINANCE SOCIAL IMPACT BONDS. A 100% OF THE FACILITIES ARE RENTED TO INDIVIDUALS MEETING SPECIFIC INCOME RESTRICTIONS. RECERTIFICATION AND PROOF OF ELIGIBILITY IS MADE ON ANNUAL BASIS.

Activities or mission (Part I)

TO PROMOTE ENCOURAGE, PROVIDE AND SPONSOR THE DEVELOPMENT OF HOUSING AND RELATED FACILITIES FOR PERSONS OF LOW INCOME AND LIMITED MEANS. THE FUND WAS CREATED TO ALLEVIATE HARDSHIP AND SUFFERING TO A DISADVANTAGED GROUP THAT WAS BROUGHT ABOUT DUE TO INADEQUATE HOUSING AND LIVING ARRANCGEMENTS

  • THE PROJECT AS DESCRIBED AS A LOW INCOME AFFORDABLE HOUSING PROJECT. THE FACILITY WILL BE FUNDED THROUGH SOCIAL FINANCE SOCIAL IMPACT BONDS. A 100% OF THE FACILITIES ARE RENTED TO INDIVIDUALS MEETING SPECIFIC INCOME RESTRICTIONS. RECERTIFICATION AND PROOF OF ELIGIBILITY IS MADE ON ANNUAL BASIS.

    Expenses $163,885

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

Listed in Part VII

  • Jeniffer Sun

    CO-EXCUTIVE DIRECTOR (OUTGOING)

    Total calculated
    $200,749
    From this org
    $0
    From related orgs
    $160,060
    Other
    $40,689
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,060 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,962 related
    Nontaxable benefits
    $0 + $27,727 related
    Filer's total
    $0 + $200,749 related

  • Thomas Yu

    EXECUTIVE DIRECTOR

    Total calculated
    $321,349
    From this org
    $0
    From related orgs
    $268,262
    Other
    $53,087
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,262 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,008 related
    Nontaxable benefits
    $0 + $46,079 related
    Filer's total
    $0 + $321,349 related

  • Hsueh Lam Yan

    SECRETARY

    Total calculated
    $177,261
    From this org
    $0
    From related orgs
    $163,579
    Other
    $13,682
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,579 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,682 related
    Filer's total
    $0 + $177,261 related

  • Joy Suzanne Granado

    CHIEF ACCOUNTING OFFICER

    Total calculated
    $107,038
    From this org
    $0
    From related orgs
    $96,262
    Other
    $10,776
    Hours/week
    1 + 37 related

  • My T Chang

    CHIEF OF STAFF

    Total calculated
    $65,759
    From this org
    $0
    From related orgs
    $63,838
    Other
    $1,921
    Hours/week
    1 + 37 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.

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.

  • NORFOLK APARTMENTS LIMITED PARTNERSHIP

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • NORFOLK APARTMENTS II LIMITED PARTNERSHIP

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • EAST VILLAGE HOMES

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

Related corporations and trusts

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

  • HARMONY 106 CORP

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • ONE FLUSHING NP LLC

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • AAFE NEW AMERICAN OPPORTUNITY FUND INC

    C · PROMOTE COMMON GOOD, WELFARE AND ECONOMIC DEVELOPMENT IN NY · NY

  • EAST VILLAGE HOMES MANAGER CORP

    C · HOLDING COMPANY · NY

  • EAST VILLAGE HOUSING DEVELOPMENT FOUND COMPANY INC

    C · HOLDING COMPANY · NY

Provenance

Return type
form_990
Tax year
2022
Filed
20 September 2023
IRS schema version
2022v5.0
Source object
202302759349300825

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