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← RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$533,000
Total expenses
$347,627
Contributions and grants received
$32,500
Grants paid
$32,500
Program service revenue
$500,500
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,085,660
Total liabilities, end of year
$110,932
Net assets or fund balances, end of year
$974,728
Program services expenses (Part IX)
$233,951
Management and general expenses
$113,676
Fundraising expenses
$0
Program service expenses (Part III)
$233,951

Program services were 67.3% 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.

  • 1e · Government grants (contributions)

    $32,500

  • 2a · Program service revenue: PROGRAM FEE

    total $500,500 · related or exempt $500,500

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $32,500 · program services $32,500

  • 11a · Fees: management

    total $198,037 · program services $162,523 · management and general $35,514

  • 11b · Fees: legal

    total $15,025 · management and general $15,025

  • 11c · Fees: accounting

    total $39,908 · management and general $39,908

  • 11d · Fees: lobbying

    total $7,635 · management and general $7,635

  • 11g · Fees: other

    total $7,089 · management and general $7,089

  • 13 · Office expenses

    total $10,206 · program services $8,376 · management and general $1,830

  • 16 · Occupancy

    total $32,390 · program services $26,582 · management and general $5,808

  • 23 · Insurance

    total $4,837 · program services $3,970 · management and general $867

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $852,435 · end of year $1,085,660

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,676 · end of year $32,933

  • 25 · Other liabilities

    beginning of year $42,404 · end of year $77,999

  • 27 · Net assets without donor restrictions

    beginning of year $789,355 · end of year $974,728

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PERSERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES, IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABLIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.

  • THE ORGANIZATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NONPROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. DURING THE YEAR, THE ORGANIZATION CONTINUED TO OWN AND MANAGE RENT REGULATED PROPERTIES THROUGHOUT NEW YORK CITY, PROVIDING SAFE AFFORDABLE HOUSING TO THOUSANDS OF TENANTS.

    Expenses $233,951 · Grants $32,500 · Revenue $500,500

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Harold Shultz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Michael Wadman

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tatiana Pena

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Victoria Barreca

    TREASUTER

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Xiomara Pedraza

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Richard Pinner

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Salvatore D'Avola

    ASSISTANT SECRETARY

    Total calculated
    $301,125
    From this org
    $0
    From related orgs
    $274,704
    Other
    $26,421
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $274,704 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,169 related
    Nontaxable benefits
    $0 + $16,252 related
    Filer's total
    $0 + $301,125 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
COMPENSATION IS DETERMNED BY NEIGHBORHOOD RESTORE HOUSING, A RELATED ORGANIZATION.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
29 October 2025
IRS schema version
2024v5.2
Source object
202533029349301213

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