Form 990 for tax year 2024
Filed by FRIENDSHIP HOUSE HOUSING DEVELOPMENT FUND COMPANY INC.
Totals
- Total revenue
- $1,043,481
- Total expenses
- $1,006,919
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,042,317
- Investment income
- $1,164
- Other revenue
- $0
- Total assets, end of year
- $2,540,623
- Total liabilities, end of year
- $4,798,294
- Net assets or fund balances, end of year
- -$2,257,671
- Program services expenses (Part IX)
- $1,006,919
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,006,919
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.
-
2a · Program service revenue: RENTAL INCOME
total $1,028,921 · related or exempt $1,028,921
-
2b · Program service revenue: LAUNDRY AND VENDING IN
total $11,750 · related or exempt $11,750
-
2c · Program service revenue: TENANT CHARGES
total $1,596 · related or exempt $1,596
-
2d · Program service revenue: MISCELLANEOUS INCOME
total $50 · related or exempt $50
-
3 · Investment income
total $1,164 · related or exempt $1,164
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $166,959 · program services $166,959
-
9 · Other employee benefits
total $36,817 · program services $36,817
-
10 · Payroll taxes
total $15,098 · program services $15,098
-
11a · Fees: management
total $83,301 · program services $83,301
-
11c · Fees: accounting
total $10,500 · program services $10,500
-
12 · Advertising and promotion
total $1,159 · program services $1,159
-
13 · Office expenses
total $34,485 · program services $34,485
-
19 · Conferences, conventions and meetings
total $1,723 · program services $1,723
-
20 · Interest
total $166,774 · program services $166,774
-
22 · Depreciation, depletion and amortization
total $234,777 · program services $234,777
-
23 · Insurance
total $25,457 · program services $25,457
-
24a · Other expenses: REAL ESTATE TAXES
total $57,745 · program services $57,745
-
24b · Other expenses: CONTRACTS
total $48,815 · program services $48,815
-
24c · Other expenses: UTILITIES
total $40,963 · program services $40,963
-
24d · Other expenses: SUPPLIES
total $30,774 · program services $30,774
-
24e · All other expenses
total $51,572 · program services $51,572
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $79,449 · end of year $161,184
-
4 · Accounts receivable
beginning of year $5,225 · end of year $3,999
-
9 · Prepaid expenses and deferred charges
beginning of year $17,688 · end of year $23,352
-
10a · Land, buildings and equipment: cost or other basis
$5,659,964
-
10b · Land, buildings and equipment: accumulated depreciation
$3,790,671
-
10c · Land, buildings and equipment, net
beginning of year $2,076,566 · end of year $1,869,293
-
15 · Other assets
beginning of year $449,426 · end of year $482,795
-
17 · Accounts payable and accrued expenses
beginning of year $55,095 · end of year $67,208
-
19 · Deferred revenue
beginning of year $37 · end of year $69
-
23 · Secured mortgages and notes payable
beginning of year $4,779,896 · end of year $4,693,738
-
25 · Other liabilities
beginning of year $35,939 · end of year $37,279
-
27 · Net assets without donor restrictions
beginning of year -$2,242,613 · end of year -$2,257,671
Mission and programs · 2024
Mission
FRIENDSHIP HOUSE HOUSING DEVELOPMENT FUND COMPANY, INC. IS A NOT FOR PROFIT CORPORATION FORMED TO OPERATE A 101- UNIT MULTIFAMILY HOUSING PROJECT FOR LOW INCOME LOCATED AT 23 LEON AVENUE IN THE CITY AND COUNTY OF CORTLAND, NEW YORK.
Activities or mission (Part I)
RENTAL OF LOW INCOME APARTMENTS.
-
RENTAL OF LOW INCOME APARTMENTS.
Expenses $1,006,919 · Revenue $1,043,481
As filed on the 2024 return.
Listed in Part VII
-
David CarelloDAVID CARELLO
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Donald DavidsonDONALD DAVIDSON
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
John F BuffaJOHN F BUFFA
TREASURER
- Total calculated
- $0
- Hours/week
- 0
-
David CollisDAVID COLLIS
SECRETARY
- Total calculated
- $0
- Hours/week
- 0
-
Walter MadejWALTER MADEJ
CHAPLAIN
- Total calculated
- $0
- Hours/week
- 0
-
Patricia CaprioPATRICIA CAPRIO
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Timothy BirnieTIMOTHY BIRNIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Frederick T GriffinFREDERICK T GRIFFIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
John N Vagianelis EsqJOHN N VAGIANELIS ESQ
COUNSEL
- Total calculated
- $0
- Hours/week
- 0
-
Matthew NimeyMATTHEW NIMEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
John B LigasJOHN B LIGAS
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 0
-
Christina SanfilippoCHRISTINA SANFILIPPO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Charmaine RosadoCHARMAINE ROSADO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert RyanROBERT RYAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 22 September 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543149349301304
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