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← UPPER SOUTH STREET HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by UPPER SOUTH STREET HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$363,246
Total expenses
$296,139
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$361,220
Investment income
$2,026
Other revenue
$0
Total assets, end of year
$826,403
Total liabilities, end of year
$1,248,771
Net assets or fund balances, end of year
-$422,368
Program services expenses (Part IX)
$261,463
Management and general expenses
$34,676
Fundraising expenses
$0
Program service expenses (Part III)
$261,463

Program services were 88.3% 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 $359,229 · related or exempt $359,229

  • 2b · Program service revenue: LAUNDRY & TENANT CHARG

    total $1,991 · related or exempt $1,991

  • 3 · Investment income

    total $2,026 · excluded $2,026

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $51,962 · program services $51,962

  • 10 · Payroll taxes

    total $6,912 · program services $6,912

  • 11b · Fees: legal

    total $470 · program services $470

  • 11c · Fees: accounting

    total $9,500 · management and general $9,500

  • 12 · Advertising and promotion

    total $1,844 · program services $1,844

  • 20 · Interest

    total $63,553 · program services $63,553

  • 22 · Depreciation, depletion and amortization

    total $25,060 · program services $25,060

  • 24a · Other expenses: UTILITIES

    total $29,022 · program services $29,022

  • 24b · Other expenses: MANAGEMENT FEE

    total $25,176 · management and general $25,176

  • 24c · Other expenses: CONTRACTS

    total $24,163 · program services $24,163

  • 24d · Other expenses: INSURANCE

    total $9,810 · program services $9,810

  • 24e · All other expenses

    total $48,667 · program services $48,667

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $207,596 · end of year $32,877

  • 4 · Accounts receivable

    beginning of year $5,276 · end of year $5,026

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

    $2,188,989

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

    $1,863,842

  • 10c · Land, buildings and equipment, net

    beginning of year $273,083 · end of year $325,147

  • 13 · Investments: program-related

    beginning of year $241,390 · end of year $364,716

  • 14 · Intangible assets

    beginning of year $86,765 · end of year $82,814

  • 15 · Other assets

    beginning of year $0 · end of year $15,823

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,322 · end of year $37,005

  • 23 · Secured mortgages and notes payable

    beginning of year $1,227,255 · end of year $1,190,419

  • 25 · Other liabilities

    beginning of year $20,008 · end of year $21,347

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$489,475 · end of year -$422,368

Mission and programs · 2023

Mission

RENTAL OF LOW INCOME APARTMENTS TO THE ELDERLY

  • RENTAL OF LOW INCOME APARTMENTS TO THE ELDERLY

    Expenses $261,463 · Revenue $361,220

As filed on the 2023 return.

Listed in Part VII

  • LISA J MARCELLO

    PRESIDENT/CEO

    Total calculated
    $349,538
    From this org
    $0
    From related orgs
    $300,228
    Other
    $49,310
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,228 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,731 related
    Nontaxable benefits
    $0 + $15,579 related
    Filer's total
    $0 + $349,538 related

  • JESSICA THOMSEN

    CFO/TREASURER

    Total calculated
    $145,697
    From this org
    $0
    From related orgs
    $131,773
    Other
    $13,924
    Hours/week
    1 + 29 related

  • RICHARD YATES

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MELISSA WENDLAND

    VICE PRESIDENT

    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

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

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ROCKWOOD SENIOR HOUSING LLC

    RELATED · PROVIDING AFFORDABLE HOUSING TO SENIORS THROUGH A TAX- CREDIT STRUCTURE · NY · 0.01% owned · share of income -$21 · share of assets -$35

    Directly controlled by ROCKWOOD HOUSING COMPANY INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ROCKWOOD HOUSING COMPANY INC

    C · SOLE MANAGING MEMBER OF ROCKWOOD SENIOR HOUSING, LLC · NY · 100% owned · share of income -$21 · share of assets -$335 · controlled entity

    Directly controlled by ESLC

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202423139349303762

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