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Nonprofiteer
← SOUTHEAST GRAND ST GUILD HDF CO INC RESIDENTIAL MANAGEMENT ASSOC INC

Form 990 for tax year 2022

Filed by SOUTHEAST GRAND ST GUILD HDF CO INC RESIDENTIAL MANAGEMENT ASSOC INC.

Totals

Total revenue
$10,233,217
Total expenses
$11,865,604
Contributions and grants received
$0
Grants paid
$4,250,000
Program service revenue
$10,185,110
Investment income
$48,107
Other revenue
$0
Total assets, end of year
$29,829,514
Total liabilities, end of year
$53,294,538
Net assets or fund balances, end of year
-$23,465,024
Program services expenses (Part IX)
$11,153,212
Management and general expenses
$712,392
Fundraising expenses
$0
Program service expenses (Part III)
$11,153,212

Program services were 94.0% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $10,185,110 · related or exempt $10,185,110

  • 3 · Investment income

    total $48,107 · excluded $48,107

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,250,000 · program services $4,250,000

  • 7 · Other salaries and wages

    total $557,527 · program services $488,364 · management and general $69,163

  • 8 · Pension plan contributions

    total $44,236 · program services $44,236

  • 9 · Other employee benefits

    total $168,724 · program services $142,306 · management and general $26,418

  • 10 · Payroll taxes

    total $50,696 · program services $44,407 · management and general $6,289

  • 11a · Fees: management

    total $501,021 · management and general $501,021

  • 11b · Fees: legal

    total $96,773 · program services $96,773

  • 11c · Fees: accounting

    total $52,932 · management and general $52,932

  • 11g · Fees: other

    total $506,688 · program services $506,688

  • 13 · Office expenses

    total $65,198 · program services $24,558 · management and general $40,640

  • 16 · Occupancy

    total $3,071,782 · program services $3,071,782

  • 20 · Interest

    total $1,193,231 · program services $1,193,231

  • 22 · Depreciation, depletion and amortization

    total $1,159,103 · program services $1,159,103

  • 23 · Insurance

    total $6,316 · management and general $6,316

  • 24a · Other expenses: BAD DEBT

    total $124,814 · program services $124,814

  • 24b · Other expenses: PERMITS AND OTHER FEES

    total $6,950 · program services $6,950

  • 24e · All other expenses

    total $9,613 · management and general $9,613

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,043,403 · end of year $2,647,850

  • 2 · Savings and temporary cash investments

    beginning of year $1,457,905 · end of year $2,018,831

  • 4 · Accounts receivable

    beginning of year $529,231 · end of year $644,266

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,216,247 · end of year $732,871

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

    $38,481,822

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

    $17,353,803

  • 10c · Land, buildings and equipment, net

    beginning of year $22,156,090 · end of year $21,128,019

  • 11 · Investments: publicly traded securities

    beginning of year $626,890 · end of year $2,657,677

  • 15 · Other assets

    beginning of year $424,884 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $426,110 · end of year $543,962

  • 19 · Deferred revenue

    beginning of year $31,854 · end of year $19,317

  • 23 · Secured mortgages and notes payable

    beginning of year $53,674,790 · end of year $52,573,897

  • 25 · Other liabilities

    beginning of year $141,451 · end of year $157,362

  • 27 · Net assets without donor restrictions

    beginning of year -$21,819,555 · end of year -$23,465,024

Mission and programs · 2022

Mission

TO PROVIDE RENTAL APARTMENTS FOR PERSONS WITH VERY LOW INCOME.

  • THE CORPORATION OWNS AND OPERATES 200 RENTAL APARTMENTS FOR PERSONS WITH VERY LOW INCOME.

    Expenses $6,903,212 · Revenue $10,185,110

  • DURING THE YEAR, THE ORGANIZATION DISTRIBUTED FUNDS FROM AVAILABLE SURPLUS CASH TO AN AFFILIATED 501(C)(3)ORGANIZATION, TO BE USED FOR THE DEVELOPMENT OF AFFORDABLE HOUSING AND RELATED SERVICES.

    Expenses $4,250,000 · Grants $4,250,000

As filed on the 2022 return.

Listed in Part VII

  • Mr Kevin Cronin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Mr Angel Garcia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Ms Deborah Presti-Eschen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Mr Angel Diaz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Mr Jeff Schmones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Ms Catherine Guerriero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Ms Larissa Reyes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Ms Alicia Carmona

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Msgr Kevin Nelan

    DIRECTOR / SECRETARY / TREASURER

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Rev Edward Byrne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 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.

Grants 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
2022
Filed
15 January 2024
IRS schema version
2022v5.0
Source object
202400169349300785

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