Form 990 for tax year 2023
Filed by CDCLI HOUSING DEVELOPMENT FUND CORPORATION.
Totals
- Total revenue
- $1,370,365
- Total expenses
- $1,303,786
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,367,197
- Investment income
- $864
- Other revenue
- $2,304
- Total assets, end of year
- $14,275,328
- Total liabilities, end of year
- $7,827,871
- Net assets or fund balances, end of year
- $6,447,457
- Program services expenses (Part IX)
- $1,263,739
- Management and general expenses
- $40,047
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,263,739
Program services were 96.9% 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: RENTAL INCOME
total $1,367,197 · related or exempt $1,367,197
-
3 · Investment income
total $864 · excluded $864
-
11d · All other revenue
total $2,304 · related or exempt $2,304
-
11e · Other revenue, total
$2,304
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $182,074 · program services $142,027 · management and general $40,047
-
11b · Fees: legal
total $3,030 · program services $3,030
-
11g · Fees: other
total $16,701 · program services $16,701
-
16 · Occupancy
total $8,953 · program services $8,953
-
20 · Interest
total $71,601 · program services $71,601
-
22 · Depreciation, depletion and amortization
total $496,898 · program services $496,898
-
23 · Insurance
total $77,419 · program services $77,419
-
24a · Other expenses: REAL ESTATE TAXES
total $229,409 · program services $229,409
-
24b · Other expenses: REPAIRS & MAINTENANCE
total $209,986 · program services $209,986
-
24c · Other expenses: TAX
total $2,608 · program services $2,608
-
24e · All other expenses
total $5,107 · program services $5,107
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,664,552 · end of year $4,700,697
-
4 · Accounts receivable
beginning of year $31,879 · end of year $3,540
-
7 · Other notes and loans receivable
beginning of year $223,117 · end of year $223,117
-
9 · Prepaid expenses and deferred charges
beginning of year $10,882 · end of year $46,935
-
10a · Land, buildings and equipment: cost or other basis
$14,304,451
-
10b · Land, buildings and equipment: accumulated depreciation
$5,003,412
-
10c · Land, buildings and equipment, net
beginning of year $9,650,576 · end of year $9,301,039
-
12 · Investments: other securities
beginning of year $11,311
-
17 · Accounts payable and accrued expenses
beginning of year $36,145 · end of year $18,690
-
19 · Deferred revenue
beginning of year $1,824,626 · end of year $1,824,626
-
21 · Escrow or custodial account liability
beginning of year $65,086 · end of year $62,266
-
23 · Secured mortgages and notes payable
beginning of year $1,780,605 · end of year $1,699,656
-
25 · Other liabilities
beginning of year $5,493,666 · end of year $4,222,633
-
27 · Net assets without donor restrictions
beginning of year $6,392,189 · end of year $6,447,457
Mission and programs · 2023
Mission
CDCLI HOUSING DEVELOPMENT FUND CORPORATION WAS ORGANIZED FOR THE PURPOSE OF BEING THE DEVELOPMENT AFFILIATE OF COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND, INC. THE ORGANIZATION OWNS 46 HOUSES WHICH ARE RENTED TO VERY LOW TO MODERATE INCOME FAMILIES AND IS INVOLVED IN THE DEVELOPMENT OF AFFORDABLE RESIDENTIAL HOUSING.
Activities or mission (Part I)
TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME INDIVIDUALS.
-
THE ORGANIZATION OWNS 46 HOUSES WHICH ARE CURRENTLY RENTED TO VERY LOW TO MODERATE INCOME FAMILIES AND IS INVOLVED IN THE DEVELOPMENT OF AFFORDABLE RESIDENTIAL HOUSING.
Expenses $1,263,739 · Revenue $1,369,501
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Adrian FassetADRIAN FASSET
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Ann-Marie ScheidtANN-MARIE SCHEIDT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Brian ClarkeBRIAN CLARKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
David CaloneDAVID CALONE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
James CoughlanJAMES COUGHLAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Jan BurmanJAN BURMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Joseph WillenJOSEPH WILLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Keith NovitzKEITH NOVITZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Marian ConwayMARIAN CONWAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Rashid WalkerRASHID WALKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Richard GuardinoRICHARD GUARDINO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Theresa SandersTHERESA SANDERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Thomas KilleenTHOMAS KILLEEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Richard RobertsRICHARD ROBERTS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Alan HeitnerALAN HEITNER
CFO/TREASURER
- Total calculated
- $226,241
- From this org
- $0
- From related orgs
- $209,634
- Other
- $16,607
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $200,248 related
- Bonus
- $0 + $8,800 related
- Other
- $0 + $586 related
- Deferred
- $0 + $16,607 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $226,241 related
-
Gwen O'SheaGWEN O'SHEA
PRESIDENT /CEO
- Total calculated
- $418,432
- From this org
- $0
- From related orgs
- $370,075
- Other
- $48,357
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $309,269 related
- Bonus
- $0 + $57,430 related
- Other
- $0 + $3,376 related
- Deferred
- $0 + $29,291 related
- Nontaxable benefits
- $0 + $19,066 related
- Filer's total
- $0 + $418,432 related
-
Allison NorrisALLISON NORRIS
EXECUTIVE SECRETARY
- Total calculated
- $40,115
- From this org
- $0
- From related orgs
- $36,661
- Other
- $3,454
- Hours/week
- 2 + 38 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
The filer's explanations (Part III)
- PART I, LINE 3
- PRESIDENT AND CHIEF EXECUTIVE OFFICER, GWEN O'SHEA, RECEIVES COMPENSATION FROM COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND INC, A RELATED ORGANIZATION. COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND INC USES COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION.
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.
-
COMMUNITY DEV CORP OF LONG ISLAND INC
501(C)(3) · SRVC PROVIDER · NY
-
501(C)(3) · FINC'L INST!. · NY
Directly controlled by CDCLI
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.
-
WRC-E MANAGER LLC
REAL ESTATE · NY
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CARMAN PLACE HOUSING DEVELOPMENT FUND COMPANY INC
C · REAL ESTATE · NY
-
CATHEDRAL PLACE HOUSING DEVELOPMENT FUND
C · HOUSING · NY
-
CDC BAYWIND CORPORATION
C · REAL ESTATE · NY
-
CDC COPIAGUE COMMONS INC
C · REAL ESTATE · NY
-
CDC NEW CASSEL INC
C · REAL ESTATE · NY
-
CDC PECONIC CROSSING INC
C · REAL ESTATE · NY
-
CDC PORT JEFFERSON CROSSING INC
C · REAL ESTATE · NY
-
CDC VINEYARD VIEW INC
C · REAL ESTATE · NY
-
CDC WINCORAM COMMONS INC
C · REAL ESTATE · NY
-
CDC WRC-E INC
C · REAL ESTATE · NY
-
TWIN OAKS HOUSING DEVELOPMENT FUND CO
C · HOUSING · NY
-
VINEYARD VIEW HOUSING DEVELOPMENT FUND
C · REAL ESTATE · NY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443209349320564
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.