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Nonprofiteer
← C-HP COVE INC

Form 990 for tax year 2023

Filed by C-HP COVE INC.

Totals

Total revenue
$5,923,256
Total expenses
$5,409,681
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,922,654
Investment income
$602
Other revenue
$0
Total assets, end of year
$7,423,973
Total liabilities, end of year
$38,704,934
Net assets or fund balances, end of year
-$31,280,961
Program services expenses (Part IX)
$5,237,621
Management and general expenses
$172,060
Fundraising expenses
$0
Program service expenses (Part III)
$5,237,621

Program services were 96.8% 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.

  • 2a · Program service revenue: RENT REVENUE

    total $5,922,595 · related or exempt $5,922,595

  • 2b · Program service revenue: LAUNDRY & VENDING INCO

    total $59 · related or exempt $59

  • 3 · Investment income

    total $602 · excluded $602

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $411,949 · program services $411,949

  • 8 · Pension plan contributions

    total $4,063 · program services $4,063

  • 9 · Other employee benefits

    total $93,992 · program services $93,992

  • 10 · Payroll taxes

    total $31,156 · program services $31,156

  • 11a · Fees: management

    total $269,314 · program services $198,442 · management and general $70,872

  • 11b · Fees: legal

    total $15,194 · management and general $15,194

  • 11c · Fees: accounting

    total $12,000 · management and general $12,000

  • 11g · Fees: other

    total $32,986 · management and general $32,986

  • 12 · Advertising and promotion

    total $13,997 · program services $13,997

  • 13 · Office expenses

    total $25,439 · program services $25,439

  • 14 · Information technology

    total $2,347 · program services $2,347

  • 16 · Occupancy

    total $775,432 · program services $775,432

  • 20 · Interest

    total $1,319,494 · program services $1,319,494

  • 22 · Depreciation, depletion and amortization

    total $641,857 · program services $641,857

  • 23 · Insurance

    total $1,033,707 · program services $1,033,707

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $410,853 · program services $410,853

  • 24b · Other expenses: RESIDENT & SOCIAL SERVI

    total $122,775 · program services $122,775

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $117,789 · program services $117,789

  • 24d · Other expenses: MISCELLANEOUS ADMINISTR

    total $41,008 · management and general $41,008

  • 24e · All other expenses

    total $34,329 · program services $34,329

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $439,279 · end of year $96,361

  • 4 · Accounts receivable

    beginning of year $56,958 · end of year $83,470

  • 9 · Prepaid expenses and deferred charges

    beginning of year $300,931 · end of year $377,227

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

    $21,815,230

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

    $16,232,892

  • 10c · Land, buildings and equipment, net

    beginning of year $5,800,838 · end of year $5,582,338

  • 13 · Investments: program-related

    beginning of year $359,098 · end of year $281,321

  • 14 · Intangible assets

    beginning of year $440,793 · end of year $393,565

  • 15 · Other assets

    beginning of year $342,955 · end of year $609,691

  • 17 · Accounts payable and accrued expenses

    beginning of year $252,048 · end of year $269,951

  • 19 · Deferred revenue

    beginning of year $60,870 · end of year $21,866

  • 23 · Secured mortgages and notes payable

    beginning of year $39,174,085 · end of year $38,359,694

  • 25 · Other liabilities

    beginning of year $48,385 · end of year $53,423

  • 27 · Net assets without donor restrictions

    beginning of year -$31,794,536 · end of year -$31,280,961

Mission and programs · 2023

Mission

TO PROVIDE FOR THE ACQUISITION, DEVELOPMENT, OWNERSHIP AND OPERATION OF AFFORDABLE HOUSING FOR LOW INCOME FAMILIES.

Activities or mission (Part I)

THE CORPORATIONS'S PURPOSE IS TO PROVIDE LOW INCOME HOUSING.

  • THE CORPORATION PROVIDES HOUSING TO LOW INCOME TENANTS IN A 384 UNIT APARTMENT COMPLEX LOCATED IN BOYNTON BEACH, FLORIDA OPERATED UNDER THE NAME CLIPPER COVE APARTMENTS.

    Expenses $5,237,621 · Revenue $5,922,654

As filed on the 2023 return.

Listed in Part VII

  • Richard F Burns

    PRESIDENT

    Total calculated
    $719,503
    From this org
    $0
    From related orgs
    $699,998
    Other
    $19,505
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $474,998 related
    Bonus
    $0 + $225,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $19,505 related
    Filer's total
    $0 + $719,503 related

  • Joseph P Wiedorfer Jr

    VP

    Total calculated
    $353,386
    From this org
    $0
    From related orgs
    $329,615
    Other
    $23,771
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,615 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $21,771 related
    Filer's total
    $0 + $353,386 related

  • John Corbett

    VP

    Total calculated
    $0
    Hours/week
    1 + 37.5 related

  • Hugh Jacobs

    VP

    Total calculated
    $0
    Hours/week
    1 + 37.5 related

  • Thomas G Vaccaro

    SECRETARY

    Total calculated
    $314,664
    From this org
    $0
    From related orgs
    $273,654
    Other
    $41,010
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,000 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $23,654 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $39,010 related
    Filer's total
    $0 + $314,664 related

  • Steven Green

    VP

    Total calculated
    $571,010
    From this org
    $0
    From related orgs
    $530,000
    Other
    $41,010
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,000 related
    Bonus
    $0 + $175,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $39,010 related
    Filer's total
    $0 + $571,010 related

  • Alla Eleon

    TREASURER

    Total calculated
    $351,231
    From this org
    $0
    From related orgs
    $324,423
    Other
    $26,808
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,423 related
    Bonus
    $0 + $55,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $24,808 related
    Filer's total
    $0 + $351,231 related

  • Eric Price

    SENIOR VICE PRESIDENT

    Total calculated
    $499,038
    From this org
    $0
    From related orgs
    $499,038
    Other
    $0
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $324,038 related
    Bonus
    $0 + $175,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $499,038 related

  • Carlos Gonzalez

    SENIOR VICE PRESIDENT

    Total calculated
    $315,174
    From this org
    $0
    From related orgs
    $295,906
    Other
    $19,268
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,423 related
    Bonus
    $0 + $95,000 related
    Other
    $0 + $1,483 related
    Deferred
    $0 + $477 related
    Nontaxable benefits
    $0 + $18,791 related
    Filer's total
    $0 + $315,174 related

  • Fred C Mitchell

    FORMER VP

    Total calculated
    $291,468
    From this org
    $0
    From related orgs
    $280,000
    Other
    $11,468
    Hours/week
    0 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,000 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $9,468 related
    Filer's total
    $0 + $291,468 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.

  • FOXWOOD PRESERVATION PARTNERS LP

    N/A · REAL ESTATE · PA

  • PRESERVATION HOUSING II LLC

    N/A · REAL ESTATE · LA

  • PRESERVATION HOUSING IV LLC

    N/A · REAL ESTATE · LA

  • ST LUKE'S PRESERVATION PARTNERS LP

    N/A · REAL ESTATE · MO

  • ST LUKE'S MASTER TENANT LLC

    N/A · REAL ESTATE · MO

  • ALABAMA AVENUE AFFORDABLE HSG LP

    N/A · REAL ESTATE · DC

  • BAYVIEW PRESERVATION PARTNERES LP

    N/A · REAL ESTATE · CT

  • PLAZA BORINQUEN 88 OWNER LP

    N/A · REAL ESTATE · NY

  • HOLLYBUSH PRESERVATION PARTNERS LP

    N/A · REAL ESTATE · NJ

  • 250 LP PEPPERTREE MANOR LP

    N/A · REAL ESTATE · TX

  • ORANGE PRESERVATION PARTNERS LP

    N/A · REAL ESTATE · NJ

  • PLAZA BORINQUEN 88 OWNER II LP

    N/A · REAL ESTATE · NY

  • HARVEST HOMES APARTMENTS LP

    N/A · REAL ESTATE · IL

  • BENNING HEIGHTS INVESTOR LLC

    N/A · REAL ESTATE · DC

  • BOLTON NORTH LP

    N/A · REAL ESTATE · MD

  • CLEME MANOR HOLDINGS LLC

    N/A · REAL ESTATE · TX

  • COLUMBIA APARTMENTS LP

    N/A · REAL ESTATE · DE

  • COLUMBIA HEIGHTS VILLAGE APARTMENTS LP

    N/A · REAL ESTATE · DC

  • MARK TWAIN NHPF LLC

    N/A · REAL ESTATE · IL

  • NANNIE HELEN OWNER LLC

    N/A · REAL ESTATE · DC

  • SHIP'S COVE PRESERVATION PARTNERS LP

    N/A · REAL ESTATE · MA

  • TAKOMA PLACE SM LLC

    N/A · REAL ESTATE · DC

  • WADE ROAD INVESTOR LLC

    N/A · REAL ESTATE · DC

  • WOODMONT CROSSING INVESTOR LLC

    N/A · REAL ESTATE · DC

  • 1255 NPO OWNER LLC

    N/A · REAL ESTATE · DC

  • 1300 NPO OWNER LLC

    N/A · REAL ESTATE · TX

  • BERRY MANOR OWNER LP

    N/A · REAL ESTATE · IL

  • CENTER CITY MANAGING MEMBER LLC

    N/A · DISSOLVED IN 2023 · NJ

  • CHA JV LLC

    N/A · REAL ESTATE · MD

  • CHA LLC

    N/A · REAL ESTATE · MD

  • HOLLANDER RIDGE INVESTOR LLC

    N/A · REAL ESTATE · MD

  • IRVINE TURNER MANAGING MEMBER LLC

    N/A · DISSOLVED IN 2023 · NJ

  • LOT 13 OWNER LLC (STRAND NEW CHINA CAF)

    N/A · REAL ESTATE · DC

  • NANNIE HELEN MANAGER LLC

    N/A · REAL ESTATE · DC

  • NHPF MISSISSIPPI MANAGER LLC

    N/A · REAL ESTATE · DC

  • WORKFORCE AFFORDABLE HOUSING FUND I LLC

    N/A · REAL ESTATE · DE

  • PRINCE ANNE OWNER LP

    N/A · REAL ESTATE · MD

  • 4650 PARK HEIGHTS LIMITED PARTNERSHIP

    N/A · REAL ESTATE · MD

  • 4710 PARK HEIGHTS LIMITED PARTNERSHIP

    N/A · REAL ESTATE · MD

  • BERRY MANOR APARTMENTS LLC

    N/A · DISSOLVED IN 2023 · IL

  • CARDINAL RIDGE GP LLC

    N/A · REAL ESTATE · MO

  • CARDINAL RIDGE INVESTOR LLC

    N/A · REAL ESTATE · MO

  • COVENT APARTMENTS LLC

    N/A · REAL ESTATE · IL

  • NEW OVERLOOK OWNER LP

    N/A · REAL ESTATE · MD

  • WEST RIVER HOUSING COMPANY MM LLC

    N/A · REAL ESTATE · CT

  • HERITAGE NOLAND ASSOCIATES LP

    N/A · REAL ESTATE · MO

  • ANACOSTIA GARDENS OWNER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

  • BLUE MOUNTAIN OWNER LLC

    N/A · REAL ESTATE · MA

    Directly controlled by THE NHP FOUNDATION

  • NEW CENTER CITY APARTMENTS URBAN RENEWAL LLC

    N/A · REAL ESTATE · NJ

    Directly controlled by THE NHP FOUNDATION

  • NEW ALEXANDER HOUSE LLC

    N/A · REAL ESTATE · MD

    Directly controlled by THE NHP FOUNDATION

  • NEW SUNSET BAY

    N/A · REAL ESTATE · FL

    Directly controlled by THE NHP FOUNDATION

  • 17 MISSISSIPPI MANAGING MEMBER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

  • 17 MISSISSIPPI OWNER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

  • BERRY MANOR APARTMENTS LP

    N/A · REAL ESTATE · IL

    Directly controlled by BERRY MANOR NHPF MANAGER LLC

  • NEW IRVINE TURNER APARTMENTS URBAN RENEWAL LLC

    N/A · REAL ESTATE · NJ

    Directly controlled by THE NHP FOUNDATION

  • RIDGECREST PHASE 1 OWNER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

  • WEST RIVER HOUSING COMPANY LLC

    N/A · REAL ESTATE · CT

    Directly controlled by THE NHP FOUNDATION

  • SEABROOK HOUSING LP

    N/A · REAL ESTATE · TX

    Directly controlled by THE NHP FOUNDATION

  • SEABROOK ALP LLC

    N/A · REAL ESTATE · TX

    Directly controlled by CHERRY AFFORDABLE HOUSING INC

  • SEABROOK DEVELOPER LLC

    N/A · REAL ESTATE · TX

    Directly controlled by THE NHP FOUNDATION

  • 2151 CALIFORNIA ASSOCIATES MANAGER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

  • STRAND THEATER OWNER LLC

    N/A · REAL ESTATE · DC

    Directly controlled by THE NHP FOUNDATION

Related corporations and trusts

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

  • FOXWOOD GP INC

    C · REAL ESTATE · PA

  • ST LUKE'S GP INC

    C · REAL ESTATE · MO

  • WALNUT 209 LLC

    C · REAL ESTATE · LA

  • PRESERVATION HOUSING PARTNERS LLC

    C · REAL ESTATE · LA

  • BAYVIEW GP INC

    C · REAL ESTATE · CT

  • PLAZA BORINQUEN 88 GP CORPORATION

    C · REAL ESTATE · NY

  • VOV-NHPF I LLC

    C · REAL ESTATE · DC

  • WADE ROAD GP LLC

    C · REAL ESTATE · DC

  • CLEME 284 LLC

    C · REAL ESTATE · TX

  • NDFD II LLC

    C · REAL ESTATE · DE

  • SHIP'S COVE GP INC

    C · REAL ESTATE · MA

  • TAKOMA PLACE GP LLC

    C · REAL ESTATE · DC

  • CHA MM LLC

    C · REAL ESTATE · MD

  • WOODMONT CROSSING MANAGER LLC

    C · REAL ESTATE · DC

  • HOLLYBUSH GP INC

    C · REAL ESTATE · DC

  • ORANGE GP INC

    C · REAL ESTATE · NY

  • BENNING HEIGHTS GP LLC

    C · REAL ESTATE · NY

  • MARK TWAIN NHPF MANAGER LLC

    C · REAL ESTATE · NY

  • NDFD LLC

    C · REAL ESTATE · MD

  • ANACOSTIA GARDENS GP LLC

    C · REAL ESTATE · DC

  • CENTER CITY MM LLC

    C · REAL ESTATE · NJ

  • EXCHANGE PLACE MM LLC

    C · REAL ESTATE · CT

  • IRVINE TURNER MM LLC

    C · REAL ESTATE · NJ

  • NANNIE HELEN NHPF LLC

    C · REAL ESTATE · DC

  • HOLLANDER RIDGE MANAGER LLC

    C · REAL ESTATE · MD

  • PRINCESS ANNE GP LLC

    C · REAL ESTATE · MD

  • TEMENOS AFFORDABLE MANAGER LLC

    C · REAL ESTATE · TX

  • BLUE MOUNTAIN MANAGER LLC

    C · REAL ESTATE · MA

  • NEW SUNSET BAY MANAGER LLC

    C · REAL ESTATE · FL

  • ALEXANDER HOUSE MANAGING MEMBER LLC

    C · REAL ESTATE · MD

  • HARVEST HOMES GP INC

    C · REAL ESTATE · IL

  • NHPF MISSISSIPPI MANAGER LLC

    C · REAL ESTATE · DC

  • BERRY MANOR NHPF LLC

    C · REAL ESTATE · IL

  • BERRY MANOR NHPF MANAGER LLC

    C · REAL ESTATE · IL

  • COVENT NHPF MANAGER LLC

    C · REAL ESTATE · IL

  • OVERLOOK GP LLC

    C · REAL ESTATE · MD

  • RIDGECREST PHASE 1 MANAGER LLC

    C · REAL ESTATE · DC

  • CH AFFORDABLE MANAGER LLC

    C · REAL ESTATE · IL

  • NHPF CAROLINE MM LLC

    C · REAL ESTATE · IL

  • WRHC MANAGER LLC

    C · REAL ESTATE · DE

  • STRAND THEATER NHPF LLC

    C · REAL ESTATE · DC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423199349306902

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