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← SERVICES FOR THE UNDERSERVED INC

Form 990 for tax year 2023

Filed by SERVICES FOR THE UNDERSERVED INC.

Totals

Total revenue
$38,218,979
Total expenses
$31,009,289
Contributions and grants received
$1,526,463
Grants paid
$0
Program service revenue
$28,025,767
Investment income
$2,962,463
Other revenue
$5,704,286
Total assets, end of year
$105,678,110
Total liabilities, end of year
$29,131,837
Net assets or fund balances, end of year
$76,546,273
Program services expenses (Part IX)
$0
Management and general expenses
$30,226,057
Fundraising expenses
$783,232
Program service expenses (Part III)
$0

Program services were 0.0% 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.

  • 1c · Fundraising events

    $1,162,092

  • 1e · Government grants (contributions)

    $4,645

  • 1f · All other contributions, gifts and grants

    $359,726

  • 2a · Program service revenue: MANAGEMENT FEES

    total $28,025,767 · related or exempt $28,025,767

  • 3 · Investment income

    total $2,898,691 · excluded $2,898,691

  • 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

  • 7a · Gross sales of assets other than inventory

    securities $34,662 · other assets $29,110

  • 7c · Gain or loss

    securities $34,662 · other assets $29,110

  • 7d · Net gain or loss

    total $63,772 · excluded $63,772

  • 8a · Fundraising events: gross income

    $52,636

  • 8a · Fundraising events: contributions included on line 1c

    $1,162,092

  • 8b · Fundraising events: direct expenses

    $320,167

  • 8c · Net income from fundraising events

    total -$267,531 · excluded -$267,531

  • 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

  • 11a · Other revenue: DEVELOPER FEES

    total $5,173,725 · related or exempt $5,173,725

  • 11b · Other revenue: OTHER INCOME

    total $798,092 · related or exempt $798,092

  • 11e · Other revenue, total

    $5,971,817

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 $920,512 · management and general $920,512

  • 6 · Compensation of disqualified persons

    total $321,185 · management and general $321,185

  • 7 · Other salaries and wages

    total $9,874,860 · management and general $9,269,007 · fundraising $605,853

  • 8 · Pension plan contributions

    total $1,364,285 · management and general $1,364,285

  • 9 · Other employee benefits

    total $427,982 · management and general $345,293 · fundraising $82,689

  • 10 · Payroll taxes

    total $916,715 · management and general $863,150 · fundraising $53,565

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $330,281 · management and general $330,281

  • 11c · Fees: accounting

    total $682,241 · management and general $682,241

  • 11d · Fees: lobbying

    total $23,400 · management and general $23,400

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,608,639 · management and general $1,608,639

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $903,550 · management and general $895,327 · fundraising $8,223

  • 14 · Information technology

    total $3,546,441 · management and general $3,520,857 · fundraising $25,584

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $2,302,335 · management and general $2,302,335

  • 17 · Travel

    total $150,425 · management and general $150,425

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $168,519 · management and general $168,519

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $449,436 · management and general $449,436

  • 23 · Insurance

    total $3,797,869 · management and general $3,797,869

  • 24a · Other expenses: TEMPORARY LABOR

    total $1,428,185 · management and general $1,428,185

  • 24b · Other expenses: STAFF RECRUITMENT & TRAINING

    total $789,302 · management and general $788,558 · fundraising $744

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $147,240 · management and general $141,166 · fundraising $6,074

  • 24d · Other expenses: MISCELLANEOUS

    total $855,887 · management and general $855,387 · fundraising $500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $41,733,865 · end of year $22,476,266

  • 2 · Savings and temporary cash investments

    beginning of year $6,137,379 · end of year $6,250,535

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $8,595,403 · end of year $11,792,477

  • 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 $2,363,345 · end of year $2,566,291

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

    $7,012,637

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

    $4,091,618

  • 10c · Land, buildings and equipment, net

    beginning of year $3,269,817 · end of year $2,921,019

  • 11 · Investments: publicly traded securities

    beginning of year $20,354,377 · end of year $21,430,206

  • 12 · Investments: other securities

    beginning of year $0 · end of year $8,499,314

  • 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 $22,328,242 · end of year $29,742,002

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,373,450 · end of year $12,319,005

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $334,772 · end of year $642,976

  • 20 · Tax-exempt bond liabilities

    beginning of year $1,356,447 · end of year $1,098,358

  • 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 $908,634 · end of year $755,792

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $21,619,762 · end of year $14,315,706

  • 27 · Net assets without donor restrictions

    beginning of year $69,189,363 · end of year $76,523,833

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $22,440

Mission and programs · 2023

Mission

WE DRIVE SCALABLE SOLUTIONS TO TRANSFORM THE LIVES OF PEOPLE WITH DISABILITIES, PEOPLE IN POVERTY AND PEOPLE FACING HOMELESSNESS: SOLUTIONS THAT CONTRIBUTE TO RIGHTING SOCIETAL IMBALANCES.

Activities or mission (Part I)

PROVIDE HOUSING AND SUPPORT SERVICES FOR INDIVIDUALS AND FAMILIES WITH SPECIAL NEEDS DUE TO DEVELOPMENTAL, MENTAL OR PHYSICAL DISABILITIES OFTEN (CONTINUED ON SCHEDULE O)

  • FEES FROM AFFILIATES IN CONNECTION WITH PROVIDING EXEMPT FUNCTION SERVICES IN FURTHERANCE OF ITS MISSION.

    Revenue $33,997,584

As filed on the 2023 return.

Listed in Part VII

  • Judith Jones thru 623

    former Chief of Staff

    Total calculated
    $540,277
    From this org
    $534,415
    From related orgs
    $0
    Other
    $5,862
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $203,850
    Bonus
    $0
    Other
    $330,565
    Deferred
    $0
    Nontaxable benefits
    $5,862
    Filer's total
    $540,277
  • Perry J Perlmutter

    PRESIDENT & CEO

    Total calculated
    $517,296
    From this org
    $454,276
    From related orgs
    $0
    Other
    $63,020
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $454,276
    Bonus
    $0
    Other
    $0
    Deferred
    $38,400
    Nontaxable benefits
    $24,620
    Filer's total
    $517,296
  • Dr Jorge R Petit

    former PRES. & CEO (thru 4/23)

    Total calculated
    $507,355
    From this org
    $493,946
    From related orgs
    $0
    Other
    $13,409
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $163,530
    Bonus
    $0
    Other
    $330,416
    Deferred
    $0
    Nontaxable benefits
    $13,409
    Filer's total
    $507,355
  • Arlo M Chase

    SVP REAL ESTATE & PROP. DEV.

    Total calculated
    $367,393
    From this org
    $315,097
    From related orgs
    $0
    Other
    $52,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,097
    Bonus
    $0
    Other
    $0
    Deferred
    $16,538
    Nontaxable benefits
    $35,758
    Filer's total
    $367,393
  • Bradley A Alperin

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $303,967
    From this org
    $274,088
    From related orgs
    $0
    Other
    $29,879
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $274,088
    Bonus
    $0
    Other
    $0
    Deferred
    $18,000
    Nontaxable benefits
    $11,879
    Filer's total
    $303,967
  • Douglas Walerstein

    CHIEF FINANCIAL OFFICER

    Total calculated
    $299,565
    From this org
    $276,013
    From related orgs
    $0
    Other
    $23,552
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $276,013
    Bonus
    $0
    Other
    $0
    Deferred
    $23,552
    Nontaxable benefits
    $0
    Filer's total
    $299,565
  • Stacey L Weston

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $289,614
    From this org
    $244,994
    From related orgs
    $0
    Other
    $44,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,994
    Bonus
    $0
    Other
    $0
    Deferred
    $20,000
    Nontaxable benefits
    $24,620
    Filer's total
    $289,614
  • Rebecca Linn-Walton

    CHIEF STRATEGY OFFICER

    Total calculated
    $270,688
    From this org
    $250,688
    From related orgs
    $0
    Other
    $20,000
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $250,688
    Bonus
    $0
    Other
    $0
    Deferred
    $20,000
    Nontaxable benefits
    $0
    Filer's total
    $270,688
  • Yedidya Doman

    SVP INFORMATION TECHNOLOGY

    Total calculated
    $251,680
    From this org
    $204,422
    From related orgs
    $0
    Other
    $47,258
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $204,422
    Bonus
    $0
    Other
    $0
    Deferred
    $11,500
    Nontaxable benefits
    $35,758
    Filer's total
    $251,680
  • John A McKesson

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Gail K McCallion Esq

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Jacquie Holmes

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Edward Hubbard

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Joshua Bider

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Erin Felker Bond Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Amelia Wright Brewer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Earl D Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Chris Cheney

    BOARD MEMBER (THRU 12/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Art Edwards

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Peter Friedland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Lawrence Hamdan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Joshua D Liston Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Jen Press Marden

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Linda Nguyen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Marie I Palacios-Hardy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Gareth Old Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Carolyn P Powell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Joann Y Sacks PhD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Deborah Wolfe Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Andrew Zimmern

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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 4A:
DR. JORGE R. PETIT, FORMER PRESIDENT & CEO THRU APRIL OF 2023, RECEIVED SEVERANCE PAYMENTS TOTALING $321,231, WHICH IS INCLUDED ON SCHEDULE J, PART II, COLUMN (B)(III).
SCHEDULE J, PART I, LINE 4B:
THE FOLLOWING EMPLOYEE OF THE ORGANIZATION IS A PARTICIPANT IN A SECTION 457(F) PLAN. THE AMOUNT EARNED DURING THE YEAR WAS: PERRY J. PERLMUTTER...................$6,000.

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 PARTNERSHIP 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

  • 2264 MORRIS AVENUE PARTNERS 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

  • DREITZER 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

  • MELROSE NORTH LLC

    housing · NY

    Directly controlled by na

  • STARHILL PHASE I MM LLC

    housing · NY

    Directly controlled by na

  • STARHILL PHASE I OWNER LLC

    housing · NY

    Directly controlled by na

  • VBK C1 MANAGERS LLC

    housing · NY

    Directly controlled by na

  • VBK C1 OWNER LLC

    housing · NY

    Directly controlled by na

Related corporations and trusts

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

  • 1070 WASHINGTON 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

  • 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

  • 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

  • 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

  • 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

  • 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 MM LLC

    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

  • PALLADIA EAST 162ND ST HDFC

    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

  • 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
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202501299349302795

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