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← LEXINGTON HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by LEXINGTON HOUSING DEVELOPMENT FUND CORPORATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 15 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$566,462
Total expenses
$1,115,331
Contributions and grants received
$857
Grants paid
$0
Program service revenue
$475,642
Investment income
$2,096
Other revenue
$87,867
Total assets, end of year
$8,075,733
Total liabilities, end of year
$120,776
Net assets or fund balances, end of year
$7,954,957
Program services expenses (Part IX)
$1,068,321
Management and general expenses
$47,010
Fundraising expenses
$0
Program service expenses (Part III)
$1,068,321

Program services were 95.8% 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

    $857

  • 2a · Program service revenue: RENTAL INCOME

    total $475,642 · related or exempt $475,642

  • 3 · Investment income

    total $2,096 · excluded $2,096

  • 11a · Other revenue: UTILITY ROOF RENTAL

    total $87,825 · related or exempt $87,825

  • 11b · Other revenue: LAUNDRY AND VENDING

    total $42 · related or exempt $42

  • 11e · Other revenue, total

    $87,867

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $117,333 · program services $82,013 · management and general $35,320

  • 11b · Fees: legal

    total $3,485 · program services $3,485

  • 11c · Fees: accounting

    total $11,690 · management and general $11,690

  • 11g · Fees: other

    total $31,278 · program services $31,278

  • 12 · Advertising and promotion

    total $50 · program services $50

  • 13 · Office expenses

    total $20,995 · program services $20,995

  • 16 · Occupancy

    total $192,054 · program services $192,054

  • 17 · Travel

    total $255 · program services $255

  • 19 · Conferences, conventions and meetings

    total $54 · program services $54

  • 22 · Depreciation, depletion and amortization

    total $484,473 · program services $484,473

  • 23 · Insurance

    total $24,638 · program services $24,638

  • 24a · Other expenses: SECURITY

    total $157,629 · program services $157,629

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $52,373 · program services $52,373

  • 24c · Other expenses: BAD DEBTS

    total $17,419 · program services $17,419

  • 24d · Other expenses: LICENSES AND PERMITS

    total $1,193 · program services $1,193

  • 24e · All other expenses

    total $412 · program services $412

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100 · end of year $100

  • 2 · Savings and temporary cash investments

    beginning of year $560,549 · end of year $519,083

  • 4 · Accounts receivable

    beginning of year $81,061 · end of year $20,743

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,967 · end of year $50,642

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

    $16,842,093

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

    $9,719,980

  • 10c · Land, buildings and equipment, net

    beginning of year $7,579,836 · end of year $7,122,113

  • 15 · Other assets

    beginning of year $362,003 · end of year $363,052

  • 17 · Accounts payable and accrued expenses

    beginning of year $60,033 · end of year $65,947

  • 19 · Deferred revenue

    beginning of year $19,033 · end of year $9,163

  • 21 · Escrow or custodial account liability

    beginning of year $39,176 · end of year $38,668

  • 25 · Other liabilities

    beginning of year $7,448 · end of year $6,998

  • 27 · Net assets without donor restrictions

    beginning of year $8,503,826 · end of year $7,954,957

Mission and programs · 2022

Mission

TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.

Activities or mission (Part I)

SUBSIDIZED RENTAL APARTMENTS FOR SENIORS AND LOW INCOME INDIVUDUALS.

  • TO PROVIDE ASSISTANCE TO SENIOR CITIZEN AND LOW INCOME INDIVIDUALS.

    Expenses $1,068,321 · Revenue $563,509

As filed on the 2022 return.

Listed in Part VII

  • ABRAHAM BIDERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1.7 related

  • ELENA SYTCHEVA

    DIRECTOR

    Total calculated
    $162,023
    From this org
    $0
    From related orgs
    $147,370
    Other
    $14,653
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,263 related
    Bonus
    $0
    Other
    $0 + $107 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $14,653 related
    Filer's total
    $0 + $162,023 related

  • JEFFRY NEARBY

    OUTGOING DIRECTOR

    Total calculated
    $110,265
    From this org
    $0
    From related orgs
    $108,762
    Other
    $1,503
    Hours/week
    1 + 39 related

  • STACEY SCHEINBERG

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1 + 1.9 related

  • DAVID GREENFIELD

    CEO

    Total calculated
    $668,504
    From this org
    $0
    From related orgs
    $597,987
    Other
    $70,517
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $597,867 related
    Bonus
    $0
    Other
    $0 + $120 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $70,517 related
    Filer's total
    $0 + $668,504 related

  • MATTHEW LOCURTO

    OUTGOING CFO

    Total calculated
    $147,862
    From this org
    $0
    From related orgs
    $140,429
    Other
    $7,433
    Hours/week
    0.1 + 39.9 related

  • ROBERT NEWMAN

    COO

    Total calculated
    $261,442
    From this org
    $0
    From related orgs
    $257,971
    Other
    $3,471
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,179 related
    Bonus
    $0
    Other
    $0 + $792 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,471 related
    Filer's total
    $0 + $261,442 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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202323109349300337

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