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← HOUSING OPPORTUNITIES HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by HOUSING OPPORTUNITIES HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$366,668
Total expenses
$515,587
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$332,702
Investment income
$17
Other revenue
$33,949
Total assets, end of year
$1,388,358
Total liabilities, end of year
$3,202,930
Net assets or fund balances, end of year
-$1,814,572
Program services expenses (Part IX)
$474,975
Management and general expenses
$40,612
Fundraising expenses
$0
Program service expenses (Part III)
$474,975

Program services were 92.1% 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: Rental Income

    total $332,702 · related or exempt $332,702

  • 3 · Investment income

    total $17 · excluded $17

  • 11a · Other revenue: Forgiveness of Debt

    total $30,720 · related or exempt $30,720

  • 11b · Other revenue: Other Income

    total $3,229 · related or exempt $3,229

  • 11e · Other revenue, total

    $33,949

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $20,404 · program services $20,404

  • 11b · Fees: legal

    total $7,150 · management and general $7,150

  • 11c · Fees: accounting

    total $7,790 · management and general $7,790

  • 11g · Fees: other

    total $82,725 · program services $82,725

  • 13 · Office expenses

    total $8,037 · program services $2,256 · management and general $5,781

  • 16 · Occupancy

    total $188,204 · program services $188,204

  • 17 · Travel

    total $3,926 · program services $3,926

  • 20 · Interest

    total $14,257 · program services $14,257

  • 22 · Depreciation, depletion and amortization

    total $93,225 · program services $93,225

  • 23 · Insurance

    total $65,612 · program services $65,612

  • 24a · Other expenses: Bad Debt Expense

    total $19,891 · management and general $19,891

  • 24e · All other expenses

    total $4,366 · program services $4,366

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,035 · end of year $59,256

  • 2 · Savings and temporary cash investments

    beginning of year $172,659 · end of year $180,670

  • 4 · Accounts receivable

    beginning of year $13,954 · end of year $6,617

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,016 · end of year $37,171

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

    $2,802,607

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

    $1,847,946

  • 10c · Land, buildings and equipment, net

    beginning of year $1,035,102 · end of year $954,661

  • 13 · Investments: program-related

    beginning of year $139,010 · end of year $139,010

  • 15 · Other assets

    beginning of year $9,414 · end of year $10,973

  • 17 · Accounts payable and accrued expenses

    beginning of year $213,124 · end of year $194,531

  • 19 · Deferred revenue

    beginning of year $5,178 · end of year $1,328

  • 21 · Escrow or custodial account liability

    beginning of year $9,174 · end of year $10,973

  • 23 · Secured mortgages and notes payable

    beginning of year $2,193,713 · end of year $2,193,713

  • 25 · Other liabilities

    beginning of year $672,654 · end of year $802,385

  • 27 · Net assets without donor restrictions

    beginning of year -$1,665,653 · end of year -$1,814,572

Mission and programs · 2024

Mission

Developing, maintaining, and operating affordable housing for persons of low income.

Activities or mission (Part I)

Developing, maintaining, and operating affordable housing for low/very low income individuals.

  • The sole program of Housing Opportunities Housing Development Fund Corporation is to maintain affordable housing for low and very low income individuals within the greater Rochester, New York area.

    Expenses $474,975 · Revenue $366,651

As filed on the 2024 return.

Listed in Part VII

  • Alexander D Castro

    Vice President

    Total calculated
    $301,259
    From this org
    $0
    From related orgs
    $283,714
    Other
    $17,545
    Hours/week
    0.1 + 41.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,714 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,628 related
    Nontaxable benefits
    $0 + $8,917 related
    Filer's total
    $0 + $301,259 related

  • Christina Brooks

    Vice President

    Total calculated
    $183,014
    From this org
    $0
    From related orgs
    $156,319
    Other
    $26,695
    Hours/week
    0.1 + 40.1 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,319 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,690 related
    Nontaxable benefits
    $0 + $22,005 related
    Filer's total
    $0 + $183,014 related

  • Jason Sackett

    President

    Total calculated
    $156,750
    From this org
    $0
    From related orgs
    $153,712
    Other
    $3,038
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,712 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,026 related
    Nontaxable benefits
    $0 + $12 related
    Filer's total
    $0 + $156,750 related

  • Kathryn Bryan

    Vice President

    Total calculated
    $193,433
    From this org
    $0
    From related orgs
    $177,457
    Other
    $15,976
    Hours/week
    0.1 + 40.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,457 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,745 related
    Nontaxable benefits
    $0 + $10,231 related
    Filer's total
    $0 + $193,433 related

  • Ruperto Montero

    Vice President and Treasurer

    Total calculated
    $260,218
    From this org
    $0
    From related orgs
    $243,827
    Other
    $16,391
    Hours/week
    0.1 + 42.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,827 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,977 related
    Nontaxable benefits
    $0 + $8,414 related
    Filer's total
    $0 + $260,218 related

  • Leslie W Kernan Jr

    Secretary

    Total calculated
    $228,403
    From this org
    $0
    From related orgs
    $221,743
    Other
    $6,660
    Hours/week
    0.1 + 40.4 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,743 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,652 related
    Nontaxable benefits
    $0 + $8 related
    Filer's total
    $0 + $228,403 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
The wages and benefits of all top management employees are determined by the personnel committee of PathStone Corporation, the related organization, as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.

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.

  • Ada Ridge Partners II LLC

    N/A · Affordable Housing · NY

  • Ada Ridge Partners LP

    Related · Affordable Housing · NY

  • Albion Senior Living LLC

    N/A · Affordable Housing · NY

  • Alturas de Castaner LP

    N/A · Affordable Housing · NY

  • Andrews Terrace LLC

    N/A · Affordable Housing · NY

  • Anthony Square LP

    N/A · Affordable Housing · NY

  • Baird Road Development LLC

    N/A · Affordable Housing · NY

  • Beechwood Apartments LLC

    N/A · Affordable Housing · NY

  • Bradmar Village LLC

    N/A · Affordable Housing · NY

  • Breckenridge on Seneca LLC

    N/A · Affordable Housing · NY

  • Brower Road LLC

    N/A · Affordable Housing · NY

  • Canal Place LP

    N/A · Affordable Housing · NY

  • Canal View Senior Housing LLC

    N/A · Affordable Housing · NY

  • Castle Street Associates LP

    N/A · Affordable Housing · NY

  • Cedar Creek Housing LLC

    N/A · Affordable Housing · NY

  • Central Place LP

    Related · Affordable Housing · NY · 99% owned · share of income -$69,774 · share of assets -$701,732

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Clayton Heights LP

    Related · Affordable Housing · NY · 1% owned · share of income -$11 · share of assets $169

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Clifton Commons Associates LP

    N/A · Affordable Housing · NY

  • Creekside Clearing LP

    N/A · Affordable Housing · NY

  • Crerand Commons LLC

    N/A · Affordable Housing · NY

  • Destiny at WCP LP

    N/A · General Housing · NY

  • Eastman Reserve LLC

    N/A · Affordable Housing · NY

  • Elliott's Landing LP

    N/A · Affordable Housing · NY

  • Elmgrove Place LP

    N/A · Affordable Housing · NE

  • Fullerton Lofts LP

    N/A · Affordable Housing · NY

  • Gettysburg Scattered Sites Associates

    N/A · Affordable Housing · NY

  • Hale Court LP

    N/A · Affordable Housing · NY

  • Highland Meadows Partners LLC

    N/A · Affordable Housing · NY

  • Lander Street Partners II LP

    N/A · Affordable Housing · NY

  • Lander Street Partners III LLC

    N/A · Affordable Housing · NY

  • Lander Street Partners LP

    N/A · Affordable Housing · NY

  • Lehigh Managing Member LLC

    N/A · Affordable Housing · NY

  • LivMoor Portfolio LLC

    N/A · Affordable Housing · NY

  • Long Pond Senior Apartments LLC

    N/A · Affordable Housing · NY

  • Macartovin Apartments LLC

    N/A · Affordable Housing · NY

  • Marketview Housing LP

    Related · Affordable Housing · NY · 99% owned · share of income -$120,749 · share of assets $835,600

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Marketview Phase II LP

    Related · Affordable Housing · NY · 99.99% owned · share of income $963 · share of assets $38,829

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • MJ Estates II LLC

    N/A · Affordable Housing · NY

  • MJ Estates LP

    N/A · Affordable Housing · NY

  • Monica Homes LLC

    N/A · Affordable Housing · NY

  • Niagara Place LP

    Related · Affordable Housing · NY · 99% owned · share of income -$3,264 · share of assets $16,078

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Ontario Place LP

    N/A · Affordable Housing · NY

  • Oxford Crossing Apartments

    N/A · Affordable Housing · NY

  • PABH Development LLC

    N/A · Affordable Housing · NY

  • PathStone Wedgepoint LLC

    N/A · Affordable Housing · NY

  • Pinnacle Apartments LLC

    N/A · Affordable Housing · NY

  • Portal De San German LLC

    N/A · Affordable Housing · NY

  • Rexford Place LP

    N/A · Affordable Housing · NY

  • Sisson Reserve II LLC

    N/A · Affordable Housing · NY

  • Sisson Reserve LLC

    N/A · Affordable Housing · NY

  • SLM Apartments LLC

    N/A · Affordable Housing · NY

  • Stone Quarry Apartments LLC

    N/A · Affordable Housing · NY

  • Stonewood Village LLC

    N/A · Affordable Housing · NY

  • Susan B Anthony LP

    N/A · Affordable Housing · NY

  • Thompson Building Associates LP

    N/A · Affordable Housing · NY

  • Towpath III LP

    N/A · Affordable Housing · NY

  • Washington Park Associates LP

    N/A · Affordable Housing · NY

  • Woodward LP

    Related · Affordable Housing · NY · 99.99% owned · share of income -$16,484 · share of assets $90,106

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

Related corporations and trusts

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

  • Crerand Commons MM Corporation

    C · General Partner in L.P. Transactions · NY

  • Destiny at Wilson Commencement Park

    C · General Partner in L.P. Transactions · NY

  • Eastman Reserve MM Corporation

    C · General Partner in L.P. Transactions · NY

  • Jamestown Managing Member LLC

    C · General Partner in L.P. Transactions · NY

  • Marketview Housing Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Breckenridge Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Long Pond Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Stone Quarry Inc

    C · General Partner in L.P. Transactions · NY

  • PathStone Wedgepoint MM Corporation

    C · General Partner in L.P. Transactions · NY

  • PathStone Whitehall Acres LLC

    C · General Partner in L.P. Transactions · NY

  • PDC Towpath Corporation

    C · General Partner in L.P. Transactions · NY

  • PHEDCO Investments Inc

    C · General Partner in L.P. Transactions · NY

  • Pinnacle Managing Member LLC

    C · General Partner in L.P. Transactions · NY

  • RHAC Development Corporation

    C · General Partner in L.P. Transactions · NY

  • RHOC Crossman Inc

    C · General Partner in L.P. Transactions · NY

  • Rural Housing Opportunities Development Corp

    C · General Partner in L.P. Transactions · NY

  • Sisson Reserve MM II LLC

    C · General Partner in L.P. Transactions · NY

  • Sisson Reserve MM LLC

    C · General Partner in L.P. Transactions · NY

  • Sisson Sewage Works Corporation

    C · General Partner in L.P. Transactions · NY

  • Slater Neighborhood Inc

    C · General Partner in L.P. Transactions · NY

  • Baird Road MM LLC

    C · General Partner in L.P. Transactions · NY

  • Churchview MM LLC

    C · General Partner in L.P. Transactions · NY

Provenance

Return type
form_990
Tax year
2024
Filed
10 August 2026
IRS schema version
2024v5.5
Source object
202612229349300971

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