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Nonprofiteer
← FLORA VISTA HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by FLORA VISTA HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$158,970
Total expenses
$333,868
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$154,362
Investment income
$4,608
Other revenue
$0
Total assets, end of year
$2,534,289
Total liabilities, end of year
$1,572,920
Net assets or fund balances, end of year
$961,369
Program services expenses (Part IX)
$318,229
Management and general expenses
$15,639
Fundraising expenses
$0
Program service expenses (Part III)
$318,229

Program services were 95.3% 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 $154,362 · related or exempt $154,362

  • 3 · Investment income

    total $4,608 · excluded $4,608

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $33,709 · program services $33,709

  • 11c · Fees: accounting

    total $18,596 · program services $18,596

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $95,289 · program services $95,289

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $80,174 · program services $80,174

  • 23 · Insurance

    total $6,954 · program services $6,954

  • 24a · Other expenses: SECURITY SERVICES

    total $61,782 · program services $61,782 · management and general $0 · fundraising $0

  • 24b · Other expenses: ALLOCATED PAYROLL & BENEFITS

    total $18,270 · program services $14,616 · management and general $3,654 · fundraising $0

  • 24c · Other expenses: PROPERTY MGMT FEES

    total $11,985 · program services $0 · management and general $11,985 · fundraising $0

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $7,109 · program services $7,109 · management and general $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $299,167

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $38,678

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $5,024

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

    $4,776,890

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

    $2,836,880

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,940,010

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $251,410

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $262,619

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $1,295,070

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $15,231

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $961,369

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

ORGANIZED TO OWN, CONSTRUCT, AND OPERATE A 20-UNIT HOUSING PROJECT PROVIDING PERMANENT HOUSING TO LOW-INCOME INDIVIDUALS.

  • ORGANIZED TO OWN, CONSTRUCT, AND OPERATE A 20-UNIT HOUSING PROJECT PROVIDING PERMANENT HOUSING TO LOW-INCOME INDIVIDUALS.

    Expenses $318,229 · Revenue $154,362

As filed on the 2022 return.

Listed in Part VII

  • Donna Colonna

    FORMER PRES & CEO (THRU 2/22)

    Total calculated
    $710,693
    From this org
    $0
    From related orgs
    $687,589
    Other
    $23,104
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $77,665 related
    Bonus
    $0
    Other
    $0 + $609,924 related
    Deferred
    $0 + $20,500 related
    Nontaxable benefits
    $0 + $2,604 related
    Filer's total
    $0 + $710,693 related

  • Perry J Perlmutter

    CEO EFF 4/23 & CFO THRU 4/23

    Total calculated
    $473,895
    From this org
    $0
    From related orgs
    $423,935
    Other
    $49,960
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $413,935 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $25,830 related
    Nontaxable benefits
    $0 + $24,130 related
    Filer's total
    $0 + $473,895 related

  • Dr Jorge R Petit

    PRESIDENT & CEO (THRU 4/23)

    Total calculated
    $464,493
    From this org
    $0
    From related orgs
    $408,161
    Other
    $56,332
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $408,161 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,800 related
    Nontaxable benefits
    $0 + $27,532 related
    Filer's total
    $0 + $464,493 related

  • Judith Jones

    CHIEF OF STAFF (THRU 6/23)

    Total calculated
    $295,462
    From this org
    $0
    From related orgs
    $252,821
    Other
    $42,641
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,821 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,776 related
    Nontaxable benefits
    $0 + $11,865 related
    Filer's total
    $0 + $295,462 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

SCHEDULE J, PART I, LINE 3:
SERVICES FOR THE UNDERSERVED, INC. (EIN: 91-1918247), AN AFFILIATE OF THE REPORTING ORGANIZATION, PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. SERVICES FOR THE UNDERSERVED, INC. HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
SCHEDULE J, PART I, LINE 4B:
THE FOLLOWING EMPLOYEES OF THE ORGANIZATION ARE PARTICIPANTS IN A SECTION 457(F) PLAN. THE AMOUNTS EARNED BY EACH EMPLOYEE DURING THE YEAR ARE: DONNA COLONNA......................$200,933. PERRY PERLMUTTER...................$ 5,330. DR. JORGE R. PETIT.................$ 8,300. JUDITH JONES.......................$ 10,276.
SCHEDULE J, PART II, COLUMN (B)(III):
AFTER 25 YEARS OF DISTINGUISHED SERVICE TO SERVICES FOR THE UNDERSERVED, INC., DONNA COLONNA RETIRED ON FEBRUARY 25, 2022 AS PRESIDENT AND CEO. OTHER COMPENSATION INCLUDES IRC 457(F) DEFERRED COMPENSATION DISTRIBUTION AND UNUSED VACATION LEAVE.

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.

  • 1070 WASHINGTON LP

    HOUSING · NY

    Directly controlled by NA

  • 1368 BOSTON ROAD ASSOC LP

    HOUSING · NY

    Directly controlled by NA

  • 1434 Undercliff Ave LP

    HOUSING · NY

    Directly controlled by NA

  • 21 Truxton St LP

    HOUSING · NY

    Directly controlled by NA

  • 2264 Morris Ave MM LLC

    HOUSING · NY

    Directly controlled by NA

  • 3361 Third Ave GP LLC

    HOUSING · NY

    Directly controlled by NA

  • 3361 Third Ave LP

    HOUSING · NY

    Directly controlled by NA

  • BROADWAY DECATUR GP LLC

    HOUSING · NY

    Directly controlled by NA

  • BROADWAY DECATUR OWNERS LLC

    HOUSING · NY

    Directly controlled by NA

  • CEDAR TREMONT LP

    HOUSING · NY

    Directly controlled by NA

  • Chelsea LP

    HOUSING · NY

    Directly controlled by NA

  • DREITZER HOUSE LP

    HOUSING · NY

    Directly controlled by NA

  • Flora Vista LP

    HOUSING · NY

    Directly controlled by NA

  • HILL HOUSE LP

    HOUSING · NY

    Directly controlled by NA

  • Jerome 1769 Owner LLC

    HOUSING · NY

    Directly controlled by NA

  • Macombs Road Housing LP

    HOUSING · NY

    Directly controlled by NA

  • Mother Gaston Housing LP

    HOUSING · NY

    Directly controlled by NA

  • Westchester Gardens LP

    HOUSING · NY

    Directly controlled by NA

Related corporations and trusts

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

  • 1070 WASHING GENERAL PARTNER LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • 1070 WASHINGTON HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • 1434 Undercliff GP Inc

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • 21 TRUXTON STREET GP INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • 2264 MORRIS AVENUE HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • 3361 THIRD AVENUE HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • ALABAMA AVENUE MANAGER LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • AEGIS III DEVELOPMENT CORP

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • C1 C2 VITAL BK HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • C3 VITAL BK HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • CHELSEA COURT ASSOCIATES INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • DREITZER CORP

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • DREITZER HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • FLORA VISTA DEVELOPMENT CORP

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • G&M PROPERTIES II HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • HILL HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • HILL HOUSE ASSOCIATES INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • JEROME 1769 AVENUE MM LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • JEROME 1769 LIHTC LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • JEROME COURT ASSOCIATES INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MACOMBS ROAD HOUSING GP INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MELROSE NORTH LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MELROSE NORTH MM LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MGX PHASE 2 G HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MOTHER GASTON HOUSING GP INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • NEW LIFE HOMES INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • PALLADIA EAST 162ND ST HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • STARHILL PHASE I MM LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • STARHILL PHASE I OWNER LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS 1769 JEROME AVENUE INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS 2264 MORRIS AVENUE INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS ALABAMA AVENUE HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS BROADWAY DECATUR INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS MELROSE NORTH INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS MGX PHASE 2 G MEMBER INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS STARHILL LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS STARHILL PHASE II LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS VITAL BK C1 INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • SUS VITAL BK C3 INC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • TREMONT CEDAR CORP

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • VBK C1 MANAGERS LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • VBK C1 OWNER LLC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • WESTCHESTER GARDENS DEVELOPMENT CORP

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • WESTCHESTER GARDENS HDFC

    C CORP · HOUSING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202441369349304184

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