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← FAC RENAISSANCE HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by FAC RENAISSANCE HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,653,250
Total expenses
$1,756,369
Contributions and grants received
$240,000
Grants paid
$0
Program service revenue
$1,348,803
Investment income
$722
Other revenue
$63,725
Total assets, end of year
$14,133,509
Total liabilities, end of year
$15,756,050
Net assets or fund balances, end of year
-$1,622,541
Program services expenses (Part IX)
$1,675,996
Management and general expenses
$80,373
Fundraising expenses
$0
Program service expenses (Part III)
$1,675,996

Program services were 95.4% 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.

  • 1d · Related organizations

    $240,000

  • 2a · Program service revenue: RENTAL INCOME

    total $1,217,046 · related or exempt $1,217,046

  • 2b · Program service revenue: OTHER TENANT CHARGES

    total $131,757 · related or exempt $131,757

  • 3 · Investment income

    total $722 · excluded $722

  • 6a · Gross rents

    personal property $59,428

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $59,428

  • 6d · Net rental income or loss

    total $59,428 · unrelated business $59,428

  • 11a · Other revenue: LATE FEES

    total $2,000 · related or exempt $2,000

  • 11d · All other revenue

    total $2,297 · related or exempt $2,297

  • 11e · Other revenue, total

    $4,297

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $148,571 · program services $88,810 · management and general $59,761

  • 11b · Fees: legal

    total $27,106 · program services $27,106

  • 11c · Fees: accounting

    total $4,132 · management and general $4,132

  • 13 · Office expenses

    total $12,393 · program services $217 · management and general $12,176

  • 14 · Information technology

    total $4,157 · management and general $4,157

  • 16 · Occupancy

    total $853,484 · program services $853,484

  • 22 · Depreciation, depletion and amortization

    total $371,399 · program services $371,399

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $156,127 · program services $156,127

  • 24b · Other expenses: BAD DEBT

    total $102,156 · program services $102,156

  • 24c · Other expenses: FEES AND PERMITS

    total $65,467 · program services $65,467

  • 24e · All other expenses

    total $11,377 · program services $11,230 · management and general $147

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,989 · end of year $32,759

  • 4 · Accounts receivable

    beginning of year $226,239 · end of year $277,271

  • 9 · Prepaid expenses and deferred charges

    beginning of year $98,117 · end of year $125,961

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

    $14,960,221

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

    $2,408,337

  • 10c · Land, buildings and equipment, net

    beginning of year $12,844,524 · end of year $12,551,884

  • 14 · Intangible assets

    beginning of year $236,417 · end of year $225,728

  • 15 · Other assets

    beginning of year $781,420 · end of year $919,906

  • 17 · Accounts payable and accrued expenses

    beginning of year $356,780 · end of year $407,707

  • 21 · Escrow or custodial account liability

    beginning of year $74,045 · end of year $82,823

  • 23 · Secured mortgages and notes payable

    beginning of year $14,658,856 · end of year $14,563,150

  • 25 · Other liabilities

    beginning of year $642,447 · end of year $702,370

  • 27 · Net assets without donor restrictions

    beginning of year -$1,519,422 · end of year -$1,622,541

Mission and programs · 2024

Mission

THE MISSION OF THE ORGANIZATION IS TO DEVELOP, MAINTAIN AND PROVIDE DECENT AND AFFORDABLE HOUSING FOR QUALIFIED LOW-INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA.

  • MAINTAIN AND OPERATE AN AFFORDABLE HOUSING PROJECT CONSISTING OF APARTMENT UNITS FOR PERSONS AND FAMILIES OF LOW INCOME.

    Expenses $1,675,996 · Revenue $1,353,100

As filed on the 2024 return.

Listed in Part VII

  • Jessica Yager

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michelle De La Uz

    SECRETARY

    Total calculated
    $291,782
    From this org
    $0
    From related orgs
    $278,652
    Other
    $13,130
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,514 related
    Bonus
    $0
    Other
    $0 + $138 related
    Deferred
    $0 + $11,580 related
    Nontaxable benefits
    $0 + $1,550 related
    Filer's total
    $0 + $291,782 related

  • William Yates

    TREASURER

    Total calculated
    $219,191
    From this org
    $0
    From related orgs
    $187,850
    Other
    $31,341
    Hours/week
    0.5 + 34.55 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,850 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,893 related
    Nontaxable benefits
    $0 + $23,448 related
    Filer's total
    $0 + $219,191 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

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.

  • 551 WARREN STREET LIMITED PARTNERSHIP

    REAL ESTATE · NY

  • ATLANTIC TERRACE 12 LLC

    REAL ESTATE · NY

  • FAC 6309 FOURTH AVENUE LP

    LOW INCOME HOUSING · NY

  • FAC 6309 FOURTH AVENUE MM LLC

    LOW INCOME HOUSING · NY

  • FAC BROWNSVILLE APARTMENTS LLC

    LOW INCOME HOUSING · NY

  • FAC RENAISSANCE LP

    LOW INCOME HOUSING · NY

  • FAC SUNSET PARK

    LOW INCOME HOUSING · NY

  • NORTHEASTERN TOWERS ANNEX DEVELOPER LLC

    LOW INCOME HOUSING · NY

  • NORTHEASTERN TOWERS ANNEX GP LLC

    LOW INCOME HOUSING · NY

  • NORTHEASTERN TOWERS ANNEX LP

    LOW INCOME HOUSING · NY

  • NORTHEASTERN TOWERS ANNEX MANAGER LLC

    LOW INCOME HOUSING · NY

  • SUPPORTIVE SLOPE LP

    LOW INCOME HOUSING · NY

Related corporations and trusts

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

  • 551 WARREN STREET INC

    C · LOW INCOME HOUSING · NY

  • 575 FIFTH AVENUE INC

    C · LOW INCOME HOUSING · NY

  • FAC BROWNSVILLE GP INC

    C · LOW INCOME HOUSING · NY

  • FAC 6309 FOURTH AVENUE GP INC

    C · LOW INCOME HOUSING · NY

  • FAC 6309 FOURTH AVENUE HOUSING DEVELOPMENT FUND CORPORATION

    C · LOW INCOME HOUSING · NY

  • FAC ATLANTIC TERRACE INC

    C · LOW INCOME HOUSING · NY

  • FAC FULTON STREET HOUSING DEVELOPMENT FUND CORPORATION

    C · LOW INCOME HOUSING · NY

  • FAC RED HOOK HOMES INC

    C · LOW INCOME HOUSING · NY

  • FAC RENAISSANCE GP INC

    C · LOW INCOME HOUSING · NY

  • FAC SUNSET PARK GP INC

    C · LOW INCOME HOUSING · NY

  • FAC SUNSET PARK HOUSING DEVELOPMENT FUND CORPORATION

    C · LOW INCOME HOUSING · NY

  • FAC CLUSTER HDFC

    C · LOW INCOME HOUSING · NY

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523199349300527

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