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Nonprofiteer
← ALLOWAY HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2025

Filed by ALLOWAY HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$225,818
Total expenses
$312,748
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$222,707
Investment income
$101
Other revenue
$3,010
Total assets, end of year
$1,563,038
Total liabilities, end of year
$2,668,447
Net assets or fund balances, end of year
-$1,105,409
Program services expenses (Part IX)
$272,155
Management and general expenses
$40,593
Fundraising expenses
$0
Program service expenses (Part III)
$272,155

Program services were 87.0% 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 $222,707 · related or exempt $222,707

  • 3 · Investment income

    total $101 · excluded $101

  • 11a · Other revenue: Miscellaneous Revenue

    total $3,010 · related or exempt $3,010

  • 11e · Other revenue, total

    $3,010

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $17,407 · management and general $17,407

  • 11c · Fees: accounting

    total $10,390 · management and general $10,390

  • 11g · Fees: other

    total $60,752 · program services $60,752

  • 12 · Advertising and promotion

    total $556 · management and general $556

  • 13 · Office expenses

    total $10,105 · management and general $10,105

  • 16 · Occupancy

    total $106,365 · program services $106,365

  • 17 · Travel

    total $49 · management and general $49

  • 22 · Depreciation, depletion and amortization

    total $56,957 · program services $56,957

  • 23 · Insurance

    total $48,081 · program services $48,081

  • 24e · All other expenses

    total $2,086 · management and general $2,086

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,001 · end of year $5,170

  • 2 · Savings and temporary cash investments

    beginning of year $94,792 · end of year $105,418

  • 4 · Accounts receivable

    beginning of year $2 · end of year $682

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,782 · end of year $6,326

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

    $2,430,177

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

    $994,220

  • 10c · Land, buildings and equipment, net

    beginning of year $1,492,914 · end of year $1,435,957

  • 15 · Other assets

    beginning of year $8,423 · end of year $9,485

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,546 · end of year $68,605

  • 19 · Deferred revenue

    beginning of year $1,850 · end of year $3,376

  • 21 · Escrow or custodial account liability

    beginning of year $7,658 · end of year $8,720

  • 23 · Secured mortgages and notes payable

    beginning of year $2,222,318 · end of year $2,222,318

  • 25 · Other liabilities

    beginning of year $348,021 · end of year $365,428

  • 27 · Net assets without donor restrictions

    beginning of year -$1,018,479 · end of year -$1,105,409

Mission and programs · 2025

Mission

A non-profit housing project serving elderly persons of low income which includes housing facilities and services specially designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness, and usefulness in longer living.

Activities or mission (Part I)

To develop and operate a housing project for elderly persons of low income.

  • Housing for the Elderly - the organization constructed a development of 23 units of housing for low-income elderly persons 62 years of age or older. The project was completed and has been operating successfully since 2007. The program's goal is to relieve the poor and distressed by enabling them to secure the basic human needs of decent shelter and promote the social welfare.

    Expenses $272,155 · Revenue $225,717

As filed on the 2025 return.

Listed in Part VII

  • Alexander Castro

    Director and Vice President

    Total calculated
    $409,122
    From this org
    $0
    From related orgs
    $380,972
    Other
    $28,150
    Hours/week
    0.1 + 41.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $380,972 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,429 related
    Nontaxable benefits
    $0 + $16,721 related
    Filer's total
    $0 + $409,122 related

  • Michael Laughlin

    Director

    Total calculated
    $46,769
    From this org
    $0
    From related orgs
    $45,407
    Other
    $1,362
    Hours/week
    0.1 + 40 related

  • Susan Boss

    Director

    Total calculated
    $220,295
    From this org
    $0
    From related orgs
    $197,645
    Other
    $22,650
    Hours/week
    0.1 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,645 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,929 related
    Nontaxable benefits
    $0 + $16,721 related
    Filer's total
    $0 + $220,295 related

  • Kathryn Bryan

    Director and Vice President

    Total calculated
    $215,172
    From this org
    $0
    From related orgs
    $198,980
    Other
    $16,192
    Hours/week
    0.1 + 40.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,980 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,969 related
    Nontaxable benefits
    $0 + $10,223 related
    Filer's total
    $0 + $215,172 related

  • Jean Lowe

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.6 related

  • Jason Sackett

    Director and President

    Total calculated
    $167,005
    From this org
    $0
    From related orgs
    $163,714
    Other
    $3,291
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,714 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,291 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $167,005 related

  • Dirk Schneider

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Christina Brooks

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 40.1 related

  • Leslie W Kernan Jr

    Secretary

    Total calculated
    $266,242
    From this org
    $0
    From related orgs
    $258,487
    Other
    $7,755
    Hours/week
    0.1 + 40.4 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,487 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,755 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $266,242 related

  • Ruperto Montero

    Treasurer and Vice President

    Total calculated
    $302,277
    From this org
    $0
    From related orgs
    $285,309
    Other
    $16,968
    Hours/week
    0.1 + 42.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,309 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,559 related
    Nontaxable benefits
    $0 + $8,409 related
    Filer's total
    $0 + $302,277 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
Alloway HDFC does not have an Executive Director, however, the wages and benefits of all top management employees of the parent corporation are determined by the personnel committee of the parent company, PathStone Corporation, as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.

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.

  • Ada Ridge Partners II LLC

    N/A · Affordable Housing · NY

  • Ada Ridge Partners LP

    N/A · Affordable Housing · NY

  • Albion Senior Living LLC

    N/A · Affordable Housing · NY

  • Alturas de Castaner LP

    N/A · Affordable Housing · NY

  • Andrews Terrace LLC

    N/A · Affordable Housing · NY

  • Anthony Square LP

    N/A · Affordable Housing · NY

  • Beechwood Apartments LLC

    N/A · Affordable Housing · NY

  • Bradmar Village LLC

    N/A · Affordable Housing · NY

  • Breckenridge on Seneca LLC

    N/A · Affordable Housing · NY

  • Brower Road LLC

    N/A · Affordable Housing · NY

  • Canal Place LP

    N/A · Affordable Housing · NY

  • Canal View Senior Housing LLC

    N/A · Affordable Housing · NY

  • Castle Street Associates LP

    N/A · Affordable Housing · NY

  • Cedar Creek Housing LLC

    N/A · Affordable Housing · NY

  • Central Place LP

    N/A · Affordable Housing · NY

  • Clayton Heights LP

    N/A · Affordable Housing · NY

  • Clifton Commons Associates LP

    N/A · Affordable Housing · NY

  • Creekside Clearing LP

    N/A · Affordable Housing · NY

  • Crerand Commons LLC

    N/A · Affordable Housing · NY

  • Destiny at WCP LP

    N/A · General Housing · NY

  • Eastman Reserve LLC

    N/A · Affordable Housing · NY

  • Elliott's Landing LP

    N/A · Affordable Housing · NY

  • Elmgrove Place LP

    N/A · Affordable Housing · NE

  • Fullerton Lofts LP

    N/A · Affordable Housing · NY

  • Gettysburg Scattered Sites Associates

    N/A · Affordable Housing · NY

  • Hale Court LP

    N/A · Affordable Housing · NY

  • Highland Meadows Partners LLC

    N/A · Affordable Housing · NY

  • Lander Street Partners II LP

    N/A · Affordable Housing · NY

  • Lander Street Partners III LLC

    N/A · Affordable Housing · NY

  • Lander Street Partners LP

    N/A · Affordable Housing · NY

  • Lehigh Managing Member LLC

    N/A · Affordable Housing · NY

  • LivMoor Portfolio LLC

    N/A · Affordable Housing · NY

  • Long Pond Senior Apartments LLC

    N/A · Affordable Housing · NY

  • Macartovin Apartments LLC

    N/A · Affordable Housing · NY

  • Marketview Housing LP

    N/A · Affordable Housing · NY

  • Marketview Phase II LP

    N/A · Affordable Housing · NY

  • MJ Estates II LLC

    N/A · Affordable Housing · NY

  • MJ Estates LP

    N/A · Affordable Housing · NY

  • Monica Homes LLC

    N/A · Affordable Housing · NY

  • Niagara Place LP

    N/A · Affordable Housing · NY

  • Ontario Place LP

    N/A · Affordable Housing · NY

  • Oxford Crossing Apartments

    N/A · Affordable Housing · NY

  • PABH Development LLC

    N/A · Affordable Housing · NY

  • PathStone Wedgepoint LLC

    N/A · Affordable Housing · NY

  • Pinnacle Apartments LLC

    N/A · Affordable Housing · NY

  • Portal De San German LLC

    N/A · Affordable Housing · NY

  • Rexford Place LP

    N/A · Affordable Housing · NY

  • Sisson Reserve II LLC

    N/A · Affordable Housing · NY

  • Sisson Reserve LLC

    N/A · Affordable Housing · NY

  • SLM Apartments LLC

    N/A · Affordable Housing · NY

  • Stone Quarry Apartments LLC

    N/A · Affordable Housing · NY

  • Stonewood Village LLC

    N/A · Affordable Housing · NY

  • Susan B Anthony LP

    N/A · Affordable Housing · NY

  • Thompson Building Associates LP

    N/A · Affordable Housing · NY

  • Towpath III LP

    N/A · Affordable Housing · NY

  • Washington Park Associates LP

    N/A · Affordable Housing · NY

  • Woodward LP

    N/A · Affordable Housing · NY

  • Baird Road Development LLC

    N/A · Affordable Housing · NY

Related corporations and trusts

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

  • Crerand Commons MM Corporation

    C · General Partner in L.P. Transactions · NY

  • Destiny at Wilson Commencement Park

    C · General Partner in L.P. Transactions · NY

  • Eastman Reserve MM Corporation

    C · General Partner in L.P. Transactions · NY

  • Jamestown Managing Member LLC

    C · General Partner in L.P. Transactions · NY

  • Marketview Housing Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Breckenridge Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Long Pond Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Stone Quarry Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Wedgepoint MM Corporation

    C · General Partner in L.P. Transactions · NY

  • PathStone Whitehall Acres LLC

    C · General Partner in L.P. Transactions · NY

  • PDC Towpath Corporation

    C · General Partner in L.P. Transactions · NY

  • PHEDCO Investments Inc

    C · General Partner in L.P. Transactions · NY

  • Pinnacle Managing Member LLC

    C · General Partner in L.P. Transactions · NY

  • RHAC Development Corporation

    C · General Partner in L.P. Transactions · NY

  • RHOC Crossman Inc

    C · General Partner in L.P. Transactions · NY

  • Rural Housing Opportunities Development Corp

    C · General Partner in L.P. Transactions · NY

  • Sisson Reserve MM II LLC

    C · General Partner in L.P. Transactions · NY

  • Sisson Reserve MM LLC

    C · General Partner in L.P. Transactions · NY

  • Sisson Sewage Works Corporation

    C · General Partner in L.P. Transactions · NY

  • Slater Neighborhood Inc

    C · General Partner in L.P. Transactions · NY

  • Baird Road MM LLC

    C · General Partner in L.P. Transactions · NY

  • Churchview MM LLC

    C · General Partner in L.P. Transactions · NY

Provenance

Return type
form_990
Tax year
2025
Filed
10 August 2026
IRS schema version
2025v4.2
Source object
202602229349302110

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