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Nonprofiteer
← LORETTO-MALTA MANOR HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by LORETTO-MALTA MANOR HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$281,217
Total expenses
$391,144
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$277,352
Investment income
$1,634
Other revenue
$2,231
Total assets, end of year
$1,781,701
Total liabilities, end of year
$44,543
Net assets or fund balances, end of year
$1,737,158
Program services expenses (Part IX)
$324,222
Management and general expenses
$66,922
Fundraising expenses
$0
Program service expenses (Part III)
$324,222

Program services were 82.9% 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 - TENANT

    total $149,872 · related or exempt $149,872

  • 2b · Program service revenue: RENTAL INCOME - HUD

    total $127,480 · related or exempt $127,480

  • 3 · Investment income

    total $1,634 · excluded $1,634

  • 11a · Other revenue: OTHER MISC. INCOME.

    total $2,231 · related or exempt $2,231

  • 11e · Other revenue, total

    $2,231

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $47,308 · program services $47,308

  • 9 · Other employee benefits

    total $859 · program services $859

  • 10 · Payroll taxes

    total $4,978 · program services $4,978

  • 11a · Fees: management

    total $32,618 · management and general $32,618

  • 11c · Fees: accounting

    total $12,557 · management and general $12,557

  • 12 · Advertising and promotion

    total $175 · management and general $175

  • 13 · Office expenses

    total $11,735 · management and general $11,735

  • 16 · Occupancy

    total $164,077 · program services $164,077

  • 19 · Conferences, conventions and meetings

    total $311 · management and general $311

  • 22 · Depreciation, depletion and amortization

    total $83,930 · program services $83,930

  • 23 · Insurance

    total $23,070 · program services $23,070

  • 24a · Other expenses: OTHER MISC. EXPENSES

    total $9,526 · management and general $9,526

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,274 · end of year $3,820

  • 4 · Accounts receivable

    beginning of year $1,305 · end of year $394

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,210 · end of year $1,663

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

    $3,315,583

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

    $1,855,661

  • 10c · Land, buildings and equipment, net

    beginning of year $1,543,852 · end of year $1,459,922

  • 15 · Other assets

    beginning of year $320,076 · end of year $315,902

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,838 · end of year $29,850

  • 19 · Deferred revenue

    beginning of year $352 · end of year $1,092

  • 25 · Other liabilities

    beginning of year $13,442 · end of year $13,601

  • 27 · Net assets without donor restrictions

    beginning of year -$1,283,115 · end of year -$1,393,042

  • 28 · Net assets with donor restrictions

    beginning of year $3,130,200 · end of year $3,130,200

Mission and programs · 2022

Mission

THE CORPORATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN, AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NONPROFIT BASIS PERSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.

Activities or mission (Part I)

LOW INCOME HOUSING PROJECT

  • OPERATION OF A 39-UNIT LOW-INCOME HOUSING PROJECT ON A NONPROFIT BASIS PERSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.

    Expenses $324,222 · Revenue $279,583

As filed on the 2022 return.

Listed in Part VII

  • Kim Townsend

    CHAIRPERSON

    Total calculated
    $865,267
    From this org
    $0
    From related orgs
    $806,740
    Other
    $58,527
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $570,000 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $86,740 related
    Deferred
    $0 + $47,500 related
    Nontaxable benefits
    $0 + $11,027 related
    Filer's total
    $0 + $865,267 related

  • John Murray

    MEMBER

    Total calculated
    $327,618
    From this org
    $0
    From related orgs
    $312,171
    Other
    $15,447
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,000 related
    Bonus
    $0 + $28,000 related
    Other
    $0 + $4,171 related
    Deferred
    $0 + $13,720 related
    Nontaxable benefits
    $0 + $1,727 related
    Filer's total
    $0 + $327,618 related

  • Sister Linda Ann Palmisano

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sister Jane Bourne

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Brennan

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ADVANCED INSTITUTIONAL SUPPORT SERVICES LLC

    PROVIDES FOOD AND FOOD SERVICE OPERATIONS TO VARIOUS LORETTO AFFILIATES · NY

    Directly controlled by LORETTO MANAGEMENT CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202323059349301347

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