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Nonprofiteer
← LOS SURES 101 S 3RD HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by LOS SURES 101 S 3RD HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$406,293
Total expenses
$620,483
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$390,330
Investment income
$11,486
Other revenue
$4,477
Total assets, end of year
$6,521,816
Total liabilities, end of year
$2,820,383
Net assets or fund balances, end of year
$3,701,433
Program services expenses (Part IX)
$554,240
Management and general expenses
$66,243
Fundraising expenses
$0
Program service expenses (Part III)
$554,240

Program services were 89.3% 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 $390,330 · related or exempt $390,330

  • 3 · Investment income

    total $11,486 · excluded $11,486

  • 11d · All other revenue

    total $4,477 · related or exempt $4,477

  • 11e · Other revenue, total

    $4,477

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $27,872 · management and general $27,872

  • 11b · Fees: legal

    total $9,019 · program services $9,019

  • 11c · Fees: accounting

    total $11,970 · management and general $11,970

  • 11g · Fees: other

    total $4,375 · program services $4,375

  • 13 · Office expenses

    total $4,194 · program services $4,194

  • 16 · Occupancy

    total $59,054 · program services $59,054

  • 20 · Interest

    total $20,695 · program services $20,695

  • 22 · Depreciation, depletion and amortization

    total $194,193 · program services $194,193

  • 23 · Insurance

    total $44,620 · program services $44,620

  • 24a · Other expenses: OPERATING AND MAINTENAN

    total $141,705 · program services $141,705

  • 24b · Other expenses: SOCIAL SERVICE FEES

    total $37,142 · program services $37,142

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $35,412 · program services $35,412

  • 24d · Other expenses: LICENSE, FEES, PERMITS

    total $3,831 · program services $3,831

  • 24e · All other expenses

    total $26,401 · management and general $26,401

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $585,393 · end of year $579,613

  • 2 · Savings and temporary cash investments

    beginning of year $1,659,134 · end of year $1,308,074

  • 4 · Accounts receivable

    beginning of year $24,202 · end of year $21,465

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,871 · end of year $19,939

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

    $7,845,078

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

    $3,252,353

  • 10c · Land, buildings and equipment, net

    beginning of year $4,786,918 · end of year $4,592,725

  • 15 · Other assets

    beginning of year $17,651 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $106,336 · end of year $131,905

  • 19 · Deferred revenue

    beginning of year $1,067,348 · end of year $687,348

  • 23 · Secured mortgages and notes payable

    beginning of year $1,970,847 · end of year $1,970,847

  • 25 · Other liabilities

    beginning of year $32,015 · end of year $30,283

  • 27 · Net assets without donor restrictions

    beginning of year $3,915,623 · end of year $3,701,433

Mission and programs · 2022

Mission

THE CORPORATION WAS INCORPORATED EXCLUSIVELY TO OWN, REHABILITATE, MANAGE, LEASE, MAINTAIN, DEVELOP AND OPERATE A 35 UNIT HOUSING PROJECT FOR PERSONS OF LOW-INCOME IN BROOKLYN, NY.

Activities or mission (Part I)

OPERATES HOUSING PROJECT FOR PERSONS OF LOW-INCOME IN BROOKLYN, NY.

  • HOUSING - PROVIDED AFFORDABLE HOUSING TO 35 PERSONS OF LOW - INCOME.

    Expenses $517,098 · Revenue $394,807

  • SOCIAL SERVICE - PROVIDED ASSESSMENT, INFORMATION AND REFFEAL, ADVOCACY AND SERVICE COORDINATION TO 35 TENANTS.

    Expenses $37,142

As filed on the 2022 return.

Listed in Part VII

  • Annette Rosado

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Cassandra Acevedo

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Damaris Reyes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • David Lopez

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Gladys Ogando

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Israel Rosario

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Maisha Morales

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Maria Ocasio

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Martin Needleman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Ray Narvaez

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Ricardo Molina

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Wilfredo Vargas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Joe Pacheco

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Jim O'Shea

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Yowalkz Rosario

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • Juan Ramos

    EXECUTIVE DIRECTOR

    Total calculated
    $156,703
    From this org
    $0
    From related orgs
    $140,848
    Other
    $15,855
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,848 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,855 related
    Filer's total
    $0 + $156,703 related

  • Lenette Berrios

    FINANCE DIRECTOR

    Total calculated
    $147,449
    From this org
    $0
    From related orgs
    $131,594
    Other
    $15,855
    Hours/week
    0.5 + 40 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.

  • 160 SOUTH 2ND STREET LP

    REAL ESTATE RENTAL · NY

  • 353 & 357 SOUTH 3RD STREET REDEVELOPMENT ASSOCIATES LP

    REAL ESTATE RENTAL · NY

  • 366 HEWES STREET ASSOCIATES LP

    REAL ESTATE RENTAL · NY

  • 399-401 SOUTH 4TH STREET REDEVELOPMENT ASSOCIATES LP

    REAL ESTATE RENTAL · NY

  • 55 WHIPPLE STREET LP

    REAL ESTATE RENTAL · NY

  • RHEINGOLD II LLC

    REAL ESTATE RENTAL · NY

  • ROEBLING STREET PRESERVATION LP

    REAL ESTATE RENTAL · NY

  • SOUTH NINTH & BEDFORD LP

    REAL ESTATE RENTAL · NY

Related corporations and trusts

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

  • 353 & 357 SOUTH 3RD STREET CORP

    C · REAL ESTATE DEVELOPMENT · NY

  • 366 HEWES STREET GP INC

    C · REAL ESTATE DEVELOPMENT · NY

  • 399 - 401 SOUTH 4TH STREET INC

    C · REAL ESTATE DEVELOPMENT · NY

  • 55 WHIPPLE STREET GP CORP

    C · REAL ESTATE DEVELOPMENT · NY

  • 907 DRIGGS AVENUE CORP

    C · REAL ESTATE DEVELOPMENT · NY

  • LOS SURES 366 HEWES STREET HDFC

    C · REAL ESTATE DEVELOPMENT · NY

  • LOS SURES COMMUNITY DEVELOPMENT CORP

    C · REAL ESTATE DEVELOPMENT · NY

  • LOS SURES MANAGEMENT COMPANY INC

    C · REAL ESTATE DEVELOPMENT · NY

  • MA RUIZ CORPORATION

    C · REAL ESTATE DEVELOPMENT · NY

  • SOUTH NINTH & BEDFORD GP

    C · REAL ESTATE DEVELOPMENT · NY

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349317315

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