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← GATES GARDENS HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by GATES GARDENS HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$1,171,139
Total expenses
$1,251,403
Contributions and grants received
$935,315
Grants paid
$0
Program service revenue
$228,413
Investment income
$4,190
Other revenue
$3,221
Total assets, end of year
$5,975,829
Total liabilities, end of year
$9,491,101
Net assets or fund balances, end of year
-$3,515,272
Program services expenses (Part IX)
$1,097,103
Management and general expenses
$154,300
Fundraising expenses
$0
Program service expenses (Part III)
$1,097,103

Program services were 87.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • SONIA RIVERA

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • LUISA JOSE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • CARMEN RAMIREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • MIGUEL RODRIGUEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • BESSIE THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • SARAH THORNTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • SCOTT SHORT

    CEO

    Total calculated
    $656,956
    From this org
    $0
    From related orgs
    $570,765
    Other
    $86,191
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $480,225 related
    Bonus
    $0 + $90,000 related
    Other
    $0 + $540 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $69,691 related
    Filer's total
    $0 + $656,956 related

  • EMILY KURTZ

    ASSISTANT SECRETARY

    Total calculated
    $301,091
    From this org
    $0
    From related orgs
    $234,647
    Other
    $66,444
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,323 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $324 related
    Deferred
    $0 + $11,834 related
    Nontaxable benefits
    $0 + $54,610 related
    Filer's total
    $0 + $301,091 related

  • VISHAL CHAWLA

    CFO

    Total calculated
    $25,614
    From this org
    $0
    From related orgs
    $25,000
    Other
    $614
    Hours/week
    1 + 40 related

  • JENNIFER NGUYEN

    CFO THRU NOVEMBER 2023

    Total calculated
    $135,571
    From this org
    $0
    From related orgs
    $124,239
    Other
    $11,332
    Hours/week
    1 + 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

The filer's explanations (Part III)

PART I, LINE 3
AN AFFILIATED ORGANIZATION, RISEBORO COMMUNITY PARTNERSHIP INC. COMPENSATES THEIR EMPLOYEES, SOME OF WHOM SIT ON THIS BOARD. THE FOLLOWING IS THEIR COMPENSATION POLICY. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE COMPANY'S OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. THE ENTIRE BOARD REVIEWS THE COMPENSATION OF THE COMPANY'S CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, DIRECTOR OF HOUSING, AED'S AND COMPLIANCE OFFICER. IN CONDUCTING THESE REVIEWS, EACH OF THE EXECUTIVE COMMITTEE AND THE BOARD RELIES ON APPROPRIATE COMPARABILITY DATA AND CONTEMPORANEOUSLY SUBSTANTIATES ITS DELIBERATION AND DETERMINATION. THE TITLES ARE COMPARED TO 3 TO 5 LIKE TITLES TO ORGANIZATIONS OF LIKE BUDGET SIZE AND COMPARED TO THE MEDIAN SALARIES OF THE COMPANIES. ANNUAL BOARD APPROVAL OF ALL SALARIES IS REFLECTED IN THE MINUTES OF THE BOARD. THESE REVIEWS WERE CONDUCTED IN 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.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349300427

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