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Nonprofiteer
← BIRNAM WOOD ASSOCIATES LTD

Form 990 for tax year 2023

Filed by BIRNAM WOOD ASSOCIATES LTD.

Totals

Total revenue
$0
Total expenses
$23,972
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$434,211
Total liabilities, end of year
$468,782
Net assets or fund balances, end of year
-$34,571
Program services expenses (Part IX)
$23,972
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$23,972

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.

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $23,972 · program services $23,972

Balance sheet

Part X, book values.

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

    $800,975

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

    $366,764

  • 10c · Land, buildings and equipment, net

    beginning of year $409,258 · end of year $434,211

  • 17 · Accounts payable and accrued expenses

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    end of year $48,925

  • 25 · Other liabilities

    beginning of year $419,857 · end of year $419,857

  • 27 · Net assets without donor restrictions

    beginning of year -$10,599 · end of year -$34,571

Mission and programs · 2023

Mission

THE ORGANIZATION WAS FORMED TO OWN REAL ESTATE USED IN PROVIDING HOUSING AND SERVICES TO LOW AND MODERATE INCOME INDIVIDUALS WHO HAVE MENTAL HEALTH AND/OR SUBSTANCE ABUSE ISSUES.

  • THROUGH A PROPERTY MANAGEMENT AGREEMENT WITH WESTCHESTER RESIDENTIAL OPPORTUNITIES, INC., THE ORGANIZATION PROVIDES AFFORDABLE HOUSING AND SERVICES TO 11 INDIVIDUALS WITH LOW AND MODERATE INCOME.

    Expenses $23,972

As filed on the 2023 return.

Listed in Part VII

  • ALAN R WOLFERT ESQ

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • HENRY J CARNAGE

    VP/TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • THOMAS C RICE

    VP/SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MARLENE ZARFES

    EXECUTIVE DIRECTOR

    Total calculated
    $156,656
    From this org
    $0
    From related orgs
    $133,706
    Other
    $22,950
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $123,706 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $4,200 related
    Nontaxable benefits
    $0 + $18,750 related
    Filer's total
    $0 + $156,656 related

  • ELIZABETH ELLISON

    CHIEF FINANCIAL OFFICER

    Total calculated
    $88,790
    From this org
    $0
    From related orgs
    $88,790
    Other
    $0
    Hours/week
    0.25 + 11.75 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
THE PERSONNEL COMMITTEE OF WESTCHESTER RESIDENTIAL OPPORTUNITIES INC. SHALL (1) PREPARE AND, FROM TIME TO TIME WITH THE PARTICIPATION OF THE EXECUTIVE DIRECTOR, UPDATE THE JOB DESCRIPTION OF THE EXECUTIVE DIRECTOR; (2) MEET WITH THE EXECUTIVE DIRECTOR PRIOR TO THE YEAR THAT THE EXECUTIVE DIRECTOR'S JOB PERFORMANCE WILL BE EVALUATED AND ESTABLISH FINANCIAL, PROGRAMMATIC AND OPERATIONAL GOALS TO BE MET BY THE EXECUTIVE DIRECTOR DURING THE EVALUATION YEAR, AND (3) WITHIN 45 DAYS AFTER THE END OF THE EVALUATION YEAR, MAKE RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE REGARDING THE PERFORMANCE OF THE EXECUTIVE DIRECTOR DURING THE EVALUATION YEAR AND ANY PROPOSED CHANGE TO THE EXECUTIVE DIRECTOR'S COMPENSATION. THE PERSONNEL COMMITTEE SHALL BE COMPRISED OF ONLY THOSE MEMBERS OF THE BOARD OF DIRECTORS WHO HAVE NO CONFLICT OF INTEREST. THE PERSONNEL COMMITTEE'S CONCLUSIONS REGARDING THE EXECUTIVE DIRECTOR'S PERFORMANCE DURING THE EVALUATION YEAR SHALL BE BASED ON WHETHER AND TO WHAT EXTENT THE EXECUTIVE DIRECTOR (A) MET OR EXCEEDED THE OBLIGATIONS ESTABLISHED IN THE JOB DESCRIPTION AND (B) MET OR EXCEEDED THE GOALS. WHETHER THERE SHALL BE A CHANGE IN THE EXECUTIVE DIRECTOR'S COMPENSATION SHALL BE REVIEWED WITH THE FINANCE COMMITTEE BASED ON HIS/HER PERFORMANCE EVALUATION, AVAILABILITY OF FUNDS AND REASONABLY AVAILABLE INFORMATION REGARDING COMPENSATION PAID BY AT LEAST THREE COMPARABLE ORGANIZATIONS IN THE SAME OR SIMILAR COMMUNITIES FOR SIMILAR POSITIONS INVOLVING SIMILAR SERVICES. WHERE PRACTICABLE, SUCH INFORMATION SHOULD INCLUDE (1) DOCUMENTED TELEPHONE INQUIRIES ABOUT SIMILAR POSITIONS IN NON-PROFIT AND FOR-PROFIT ORGANIZATIONS, (2) WRITTEN JOB OFFERS AT SIMILAR ORGANIZATIONS, (3) INFORMATION FROM THE FORM 990 FILINGS OF OTHER NON-PROFIT ORGANIZATIONS, (4) STUDIES BY INDEPENDENT COMPENSATION EXPERTS, AND/OR (5) INFORMATION AVAILABLE FROM RELIABLE, INDEPENDENT ORGANIZATIONS THAT GATHER AND PROVIDE THIS TYPE OF INFORMATION. THE PERSONNEL COMMITTEE SHALL DOCUMENT, IN THE MINUTES OF ITS PROCEEDINGS, THE REASONS SUPPORTING ITS RECOMMENDATIONS. THE PROCESS FOR DETERMINING THE EXECUTIVE DIRECTOR'S SALARY WAS UNDERTAKEN IN DECEMBER OF 2023.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 September 2024
IRS schema version
2023v5.1
Source object
202442559349301304

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