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← PURCHASE COLLEGE FOUNDATION HOUSING CORPORATION

Form 990 for tax year 2023

Filed by PURCHASE COLLEGE FOUNDATION HOUSING CORPORATION.

Totals

Total revenue
$5,166,057
Total expenses
$4,773,916
Contributions and grants received
$0
Grants paid
$1,000,000
Program service revenue
$4,719,955
Investment income
$446,102
Other revenue
$0
Total assets, end of year
$14,746,110
Total liabilities, end of year
$8,637,050
Net assets or fund balances, end of year
$6,109,060
Program services expenses (Part IX)
$4,506,268
Management and general expenses
$267,648
Fundraising expenses
$0
Program service expenses (Part III)
$4,506,268

Program services were 94.4% 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 $4,719,955 · related or exempt $4,719,955

  • 3 · Investment income

    total $446,102 · excluded $446,102

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,000,000 · program services $1,000,000

  • 7 · Other salaries and wages

    total $1,758,920 · program services $1,544,264 · management and general $214,656

  • 11g · Fees: other

    total $41,238 · management and general $41,238

  • 13 · Office expenses

    total $4,406 · management and general $4,406

  • 20 · Interest

    total $411,515 · program services $411,515

  • 22 · Depreciation, depletion and amortization

    total $655,699 · program services $655,699

  • 23 · Insurance

    total $204,381 · program services $204,381

  • 24a · Other expenses: UTILITIES

    total $382,686 · program services $382,686

  • 24b · Other expenses: REPAIR AND MAINTENANCE

    total $277,009 · program services $277,009

  • 24c · Other expenses: OTHER EXPENSES

    total $38,062 · program services $30,714 · management and general $7,348

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $9,716,302 · end of year $8,961,893

  • 4 · Accounts receivable

    beginning of year $115,043 · end of year $73,742

  • 9 · Prepaid expenses and deferred charges

    end of year $390,985

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

    $18,401,421

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

    $13,083,631

  • 10c · Land, buildings and equipment, net

    beginning of year $5,436,167 · end of year $5,317,790

  • 15 · Other assets

    beginning of year $250 · end of year $1,700

  • 17 · Accounts payable and accrued expenses

    beginning of year $209,144 · end of year $174,577

  • 19 · Deferred revenue

    beginning of year $21,761 · end of year $5,722

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,122,944 · end of year $8,287,370

  • 25 · Other liabilities

    beginning of year $196,994 · end of year $169,381

  • 27 · Net assets without donor restrictions

    beginning of year $5,716,919 · end of year $6,109,060

Mission and programs · 2023

Mission

TO SUPPORT THE PURPOSES OF PURCHASE COLLEGE, STATE UNIVERSITY OF NEW YORK BY ACQUIRING, LEASING, CONSTRUCTING, RENOVATING, AND MAINTAINING RESIDENTIAL AND OTHER FACILITIES FOR THE USE OF THE STUDENTS AND FACULTY OF PURCHASE COLLEGE, STATE UNIVERSITY OF NEW YORK.

  • THE CORPORATION HAS BUILT A THIRTEEN BUILDING RESIDENTIAL COMPLEX, KNOWN AS ALUMNI VILLAGE, ON APPROXIMATELY 7.8 ACRES OF LAND THAT CONTAINS 102 FOUR-BEDROOM APARTMENTS WHICH IS USED AS A DORMITORY FOR STUDENTS.

    Expenses $4,506,268 · Grants $1,000,000 · Revenue $4,719,955

As filed on the 2023 return.

Listed in Part VII

  • David Fleisher

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michelle Ifill

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michael Kopas

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michael Fonseca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Milagros Pena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sarah James

    TREASURER

    Total calculated
    $0
    Hours/week
    2.5 + 2.5 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.

Grants on this return

  • STATE UNIVERSITY OF NEW YORK COLLEGE AT PURCHASE

    $1,000,000

    TO SUPPORT THE RESIDENTIAL POPULATION OF THE COLLEGE

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.

Provenance

Return type
form_990
Tax year
2023
Filed
3 February 2025
IRS schema version
2023v6.0
Source object
202510379349301456

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