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Nonprofiteer
← VILLAGE HOUSING DEVELOPMENT CORP

Form 990 for tax year 2023

Filed by VILLAGE HOUSING DEVELOPMENT CORP.

Totals

Total revenue
$5,859,158
Total expenses
$5,833,505
Contributions and grants received
$1,546,113
Grants paid
$0
Program service revenue
$4,287,393
Investment income
$25,652
Other revenue
$0
Total assets, end of year
$8,959,875
Total liabilities, end of year
$11,030,542
Net assets or fund balances, end of year
-$2,070,667
Program services expenses (Part IX)
$5,216,735
Management and general expenses
$616,770
Fundraising expenses
$0
Program service expenses (Part III)
$5,216,735

Program services were 89.4% 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.

  • 1d · Related organizations

    $1,449,032

  • 1e · Government grants (contributions)

    $95,850

  • 1f · All other contributions, gifts and grants

    $1,231

  • 2a · Program service revenue: Rental Income

    total $2,741,345 · related or exempt $2,741,345

  • 2b · Program service revenue: Service Revenue

    total $1,546,048 · related or exempt $1,546,048

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $25,652 · excluded $25,652

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $363,382 · program services $363,382

  • 7 · Other salaries and wages

    total $1,723,492 · program services $1,520,309 · management and general $203,183

  • 8 · Pension plan contributions

    total $48,727 · program services $41,212 · management and general $7,515

  • 9 · Other employee benefits

    total $191,146 · program services $169,169 · management and general $21,977

  • 10 · Payroll taxes

    total $122,351 · program services $110,116 · management and general $12,235

  • 11a · Fees: management

    total $80,000 · management and general $80,000

  • 11b · Fees: legal

    total $82,641 · management and general $82,641

  • 11c · Fees: accounting

    total $5,076 · management and general $5,076

  • 11g · Fees: other

    total $1,248,738 · program services $1,225,825 · management and general $22,913 · fundraising $0

  • 13 · Office expenses

    total $387,556 · program services $276,348 · management and general $111,208

  • 14 · Information technology

    total $21,968 · management and general $21,968

  • 16 · Occupancy

    total $481,524 · program services $481,524

  • 19 · Conferences, conventions and meetings

    total $3,078 · management and general $3,078

  • 20 · Interest

    total $376,130 · program services $376,130

  • 22 · Depreciation, depletion and amortization

    total $667,403 · program services $652,720 · management and general $14,683

  • 24a · Other expenses: Bad Debt

    total $30,293 · management and general $30,293

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,819 · end of year $48,032

  • 3 · Pledges and grants receivable

    beginning of year $278,278 · end of year $163,132

  • 4 · Accounts receivable

    beginning of year $309,331 · end of year $248,582

  • 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

  • 9 · Prepaid expenses and deferred charges

    end of year $5,795

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

    $18,805,714

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

    $11,166,175

  • 10c · Land, buildings and equipment, net

    beginning of year $8,218,464 · end of year $7,639,539

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $1,239,442 · end of year $854,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $660,443 · end of year $532,508

  • 19 · Deferred revenue

    beginning of year $62,570 · end of year $23,020

  • 20 · Tax-exempt bond liabilities

    beginning of year $6,229,328 · end of year $5,917,014

  • 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 $4,580,400 · end of year $4,558,000

  • 25 · Other liabilities

    beginning of year $661,913 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$2,096,320 · end of year -$2,070,667

Mission and programs · 2023

Mission

VHDFC OPERATES A MEDICAID ASSISTED LIVING, INDEPENDENT LIVING, AND ENRICHED HOUSING PROGRAM. SERVICES INCLUDE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, MEDICATION ASSISTANCE, HOUSEKEEPING, A DYNAMIC ACTIVITIES PROGRAM, AND RESTAURANT-STYLE MEALS. IN 2023, VHDFC PROVIDED HOUSING, FOOD, AND CARE FOR OVER 30,655 RESIDENT DAYS.

Activities or mission (Part I)

VILLAGE HOUSING DEVELOPMENT FUND CORPORATION (VHDFC) OPERATES A MEDICAID ASSISTED LIVING, INDEPENDENT LIVING, AND ENRICHED HOUSING PROGRAM.

  • VHDFC OPERATES A MEDICAID ASSISTED LIVING, INDEPENDENT LIVING, AND ENRICHED HOUSING PROGRAM. SERVICES INCLUDE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, MEDICATION ASSISTANCE, HOUSEKEEPING, A DYNAMIC ACTIVITIES PROGRAM, AND RESTAURANT-STYLE MEALS. IN 2023, VHDFC PROVIDED HOUSING, FOOD, AND CARE FOR OVER 30,655 RESIDENT DAYS.

    Expenses $5,216,735 · Revenue $4,287,393

As filed on the 2023 return.

Listed in Part VII

  • Emma Devito

    President and CEO

    Total calculated
    $1,458,043
    From this org
    $0
    From related orgs
    $1,373,557
    Other
    $84,486
    Hours/week
    2.8 + 32.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,086,398 related
    Bonus
    $0 + $276,491 related
    Other
    $0 + $10,668 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $31,986 related
    Filer's total
    $0 + $1,458,043 related

  • John W Behre

    Chair

    Total calculated
    $0
    Hours/week
    0.1 + 0.6 related

  • Judy Choi

    Treasurer

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related

  • Mary Caracappa

    Treasurer

    Total calculated
    $0
    Hours/week
    0.1 + 0.6 related

  • Daniel M Fox

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.2 related

  • David H Sidwell

    Director (through 5/23)

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Eleanor S Applewhaite

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.2 related

  • Jim J Gardiner

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.1 related

  • Debra Tirado

    CFO

    Total calculated
    $662,876
    From this org
    $0
    From related orgs
    $627,079
    Other
    $35,797
    Hours/week
    2.8 + 32.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $526,046 related
    Bonus
    $0 + $99,127 related
    Other
    $0 + $1,906 related
    Deferred
    $0 + $32,500 related
    Nontaxable benefits
    $0 + $3,297 related
    Filer's total
    $0 + $662,876 related

  • Jill Moscowitz

    Chief Legal Officer

    Total calculated
    $771,972
    From this org
    $0
    From related orgs
    $697,171
    Other
    $74,801
    Hours/week
    3.5 + 31.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $577,401 related
    Bonus
    $0 + $109,102 related
    Other
    $0 + $10,668 related
    Deferred
    $0 + $52,375 related
    Nontaxable benefits
    $0 + $22,426 related
    Filer's total
    $0 + $771,972 related

  • Sandy D Freeland

    SVP of Program Operations

    Total calculated
    $363,382
    From this org
    $308,333
    From related orgs
    $0
    Other
    $55,049
    Hours/week
    17.5 + 17.5 related

    Schedule J breakdown matched by us

    Base
    $255,153
    Bonus
    $50,859
    Other
    $2,321
    Deferred
    $26,426
    Nontaxable benefits
    $28,623
    Filer's total
    $363,382

  • Catherine Charles

    ALP Nurse Manager (through 11/23)

    Total calculated
    $141,398
    From this org
    $116,128
    From related orgs
    $0
    Other
    $25,270
    Hours/week
    35

  • Darryl Hall

    Program Services Coordinator

    Total calculated
    $124,669
    From this org
    $108,869
    From related orgs
    $0
    Other
    $15,800
    Hours/week
    35

  • Deborah Ellen Batson

    Resident Experience Case Manager

    Total calculated
    $116,509
    From this org
    $111,071
    From related orgs
    $0
    Other
    $5,438
    Hours/week
    35

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 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 7 Non-fixed payments
THE SVP OF PROGRAM OPERATION'S BONUS IS BASED ON PERFORMANCE AND IS DETERMINED AND APPROVED BY THE BOARD.

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 corporations and trusts

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

  • Village Care Holding

    C Corporation · Holding Company · NY · share of income $0 · share of assets $0

    Directly controlled by VCNY

  • Village Care Plus Inc

    C Corporation · SVCS Agency · NY · share of income $0 · share of assets $0

    Directly controlled by VCNY

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349305029

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