Form 990 for tax year 2023
Filed by MOUNT ST JAMES HOUSING DEVELOPMENT FUND COMPANY INC.
Totals
- Total revenue
- $1,163,075
- Total expenses
- $1,234,105
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,146,864
- Investment income
- $2,700
- Other revenue
- $13,511
- Total assets, end of year
- $3,748,275
- Total liabilities, end of year
- $3,938,105
- Net assets or fund balances, end of year
- -$189,830
- Program services expenses (Part IX)
- $1,076,866
- Management and general expenses
- $157,239
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,076,866
Program services were 87.3% 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: PROGRAM SERVICE REVENU
total $1,146,864 · related or exempt $1,146,864
-
3 · Investment income
total $2,700 · excluded $2,700
-
11a · Other revenue: LAUNDRY/VENDING REVENU
total $9,237 · excluded $9,237
-
11b · Other revenue: GARAGE & PARKING
total $3,546 · excluded $3,546
-
11c · Other revenue: TENANT CHARGES
total $537 · excluded $537
-
11d · All other revenue
total $191 · excluded $191
-
11e · Other revenue, total
$13,511
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $205,659 · program services $205,659
-
9 · Other employee benefits
total $24,978 · program services $24,978
-
10 · Payroll taxes
total $17,954 · program services $17,954
-
11a · Fees: management
total $82,870 · management and general $82,870
-
11b · Fees: legal
total $1,275 · management and general $1,275
-
11c · Fees: accounting
total $25,168 · management and general $25,168
-
12 · Advertising and promotion
total $1,017 · management and general $1,017
-
13 · Office expenses
total $88,160 · program services $42,996 · management and general $45,164
-
16 · Occupancy
total $171,486 · program services $171,486
-
19 · Conferences, conventions and meetings
total $1,745 · management and general $1,745
-
20 · Interest
total $15,858 · program services $15,858
-
22 · Depreciation, depletion and amortization
total $258,613 · program services $258,613
-
23 · Insurance
total $52,442 · program services $52,442
-
24a · Other expenses: REAL ESTATE TAXES
total $77,733 · program services $77,733
-
24b · Other expenses: EQUIPMENT RENTAL & MAIN
total $60,810 · program services $60,810
-
24c · Other expenses: BAD DEBT
total $59,208 · program services $59,208
-
24d · Other expenses: SEWER USE TAX
total $50,905 · program services $50,905
-
24e · All other expenses
total $38,224 · program services $38,224
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,049 · end of year $53,804
-
4 · Accounts receivable
beginning of year $14,926 · end of year $45,670
-
9 · Prepaid expenses and deferred charges
beginning of year $2,482 · end of year $3,281
-
10a · Land, buildings and equipment: cost or other basis
$8,687,452
-
10b · Land, buildings and equipment: accumulated depreciation
$5,389,230
-
10c · Land, buildings and equipment, net
beginning of year $3,541,635 · end of year $3,298,222
-
15 · Other assets
beginning of year $267,562 · end of year $347,298
-
17 · Accounts payable and accrued expenses
beginning of year $63,078 · end of year $116,543
-
23 · Secured mortgages and notes payable
beginning of year $3,823,609 · end of year $3,752,165
-
25 · Other liabilities
beginning of year $65,767 · end of year $69,397
-
27 · Net assets without donor restrictions
beginning of year -$118,800 · end of year -$189,830
Mission and programs · 2023
Mission
THE CORPORATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN, AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NONPROFIT BASIS PURSUANT TO SECTION 221(D)(4) OF THE NATIONAL HOUSING ACT.
Activities or mission (Part I)
LOW INCOME HOUSING PROJECT.
-
MOUNT ST. JAMES DEVELOPMENT FUND COMPANY OPERATES A 140-UNIT LOW-INCOME HOUSING PROJECT ON A NONPROFIT BASIS PURSUANT TO SECTION 221(D)(4) OF THE NATIONAL HOUSING ACT.
Expenses $1,076,866 · Revenue $1,146,864
As filed on the 2023 return.
Listed in Part VII
-
Fredrick ZolnaFREDRICK ZOLNA
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
David MichelDAVID MICHEL
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Cindy FaliseCINDY FALISE
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Steve SchaeferSTEVE SCHAEFER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
John SindoniJOHN SINDONI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
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.
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.
-
501(C)(3) · MANAGING AGENT · NY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401379349301225
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