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← NEIGHBORHOOD HOUSING RENEWAL CORPORATION III

Form 990 for tax year 2024

Filed by NEIGHBORHOOD HOUSING RENEWAL CORPORATION III.

Totals

Total revenue
$831,571
Total expenses
$1,037,251
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$823,151
Investment income
$8,420
Other revenue
$0
Total assets, end of year
$2,367,973
Total liabilities, end of year
$4,695,870
Net assets or fund balances, end of year
-$2,327,897
Program services expenses (Part IX)
$1,007,345
Management and general expenses
$29,906
Fundraising expenses
$0
Program service expenses (Part III)
$1,007,345

Program services were 97.1% 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: LAUNDRY INCOME

    total $4,635 · related or exempt $4,635

  • 2b · Program service revenue: RENTAL INCOME APT

    total $818,516 · related or exempt $818,516

  • 3 · Investment income

    total $8,420 · excluded $8,420

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $119,243 · program services $119,243

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $1,283 · program services $1,283

  • 10 · Payroll taxes

    total $3,975 · program services $3,975

  • 11a · Fees: management

    total $73,872 · program services $73,872

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $29,906 · management and general $29,906

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $26,186 · program services $26,186

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $61,345 · program services $61,345

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $102,764 · program services $102,764

  • 23 · Insurance

    total $118,475 · program services $118,475

  • 24a · Other expenses: UTILITIES

    total $254,123 · program services $254,123

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $167,866 · program services $167,866

  • 24c · Other expenses: GARBAGE AND TRASH REMOVAL

    total $34,282 · program services $34,282

  • 24d · Other expenses: ADMINISTRATIVE SERVICES

    total $34,153 · program services $34,153

  • 24e · All other expenses

    total $9,778 · program services $9,778

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,522 · end of year $84,294

  • 2 · Savings and temporary cash investments

    beginning of year $340,813 · end of year $301,290

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $122,137 · end of year $151,187

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $308,000 · end of year $308,000

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,085 · end of year $17,669

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

    $5,043,640

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

    $3,538,107

  • 10c · Land, buildings and equipment, net

    beginning of year $1,608,298 · end of year $1,505,533

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $392,260 · end of year $460,062

  • 19 · Deferred revenue

    beginning of year $3,989 · end of year $7,168

  • 23 · Secured mortgages and notes payable

    beginning of year $2,094,207 · end of year $2,089,474

  • 25 · Other liabilities

    beginning of year $2,080,616 · end of year $2,139,166

  • 27 · Net assets without donor restrictions

    beginning of year -$2,122,217 · end of year -$2,327,897

Mission and programs · 2024

Mission

PROVIDE AFFORDABLE HOUSING TO LOW-INCOME TENANTS.

  • OPERATION OF HOUSING TO FAMILIES WITH LOW INCOME LOCATED AT 575 EDDYSTREET AND 450 ELLIS STREET IN SAN FRANCISCO, CALIFORNIA.

    Expenses $1,007,345 · Revenue $823,151

As filed on the 2024 return.

Listed in Part VII

  • LAMAR HEYSTEK

    Sect/Treasurer

    Total calculated
    $199,100
    From this org
    $0
    From related orgs
    $169,400
    Other
    $29,700
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $169,400 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $10,955 related
    Nontaxable benefits
    not reported + $18,745 related
    Filer's total
    not reported + $199,100 related

  • FRANK FUNG

    Chairman

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • ROBERT LO

    Vice Chairman

    Total calculated
    $0
    Hours/week
    0 + 2 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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202513189349310831

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