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← HOUSING OPPORTUNITIES HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by HOUSING OPPORTUNITIES HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$274,875
Total expenses
$545,675
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$274,785
Investment income
$17
Other revenue
$73
Total assets, end of year
$1,428,190
Total liabilities, end of year
$3,093,843
Net assets or fund balances, end of year
-$1,665,653
Program services expenses (Part IX)
$512,222
Management and general expenses
$33,453
Fundraising expenses
$0
Program service expenses (Part III)
$512,222

Program services were 93.9% 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 $274,785 · related or exempt $274,785

  • 3 · Investment income

    total $17 · excluded $17

  • 11a · Other revenue: Other Income

    total $73 · related or exempt $73

  • 11e · Other revenue, total

    $73

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $25,942 · program services $25,942

  • 11b · Fees: legal

    total $6,341 · management and general $6,341

  • 11c · Fees: accounting

    total $5,120 · management and general $5,120

  • 11g · Fees: other

    total $90,431 · program services $90,431

  • 13 · Office expenses

    total $8,149 · program services $1,653 · management and general $6,496

  • 16 · Occupancy

    total $223,924 · program services $223,924

  • 17 · Travel

    total $1,529 · program services $1,529

  • 19 · Conferences, conventions and meetings

    total $329 · program services $329

  • 20 · Interest

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

  • 22 · Depreciation, depletion and amortization

    total $92,905 · program services $92,905

  • 23 · Insurance

    total $59,109 · program services $59,109

  • 24a · Other expenses: Bad Debt Expense

    total $15,496 · management and general $15,496

  • 24e · All other expenses

    total $2,143 · program services $2,143

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,315 · end of year $18,035

  • 2 · Savings and temporary cash investments

    beginning of year $168,436 · end of year $172,659

  • 4 · Accounts receivable

    beginning of year $13,480 · end of year $13,954

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,931 · end of year $40,016

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

    $2,789,823

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

    $1,754,721

  • 10c · Land, buildings and equipment, net

    beginning of year $1,128,008 · end of year $1,035,102

  • 13 · Investments: program-related

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

  • 15 · Other assets

    beginning of year $9,840 · end of year $9,414

  • 17 · Accounts payable and accrued expenses

    beginning of year $149,432 · end of year $213,124

  • 19 · Deferred revenue

    beginning of year $17,997 · end of year $5,178

  • 21 · Escrow or custodial account liability

    beginning of year $9,840 · end of year $9,174

  • 23 · Secured mortgages and notes payable

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

  • 25 · Other liabilities

    beginning of year $519,891 · end of year $672,654

  • 27 · Net assets without donor restrictions

    beginning of year -$1,394,853 · end of year -$1,665,653

Mission and programs · 2023

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 $512,222 · Revenue $274,858

As filed on the 2023 return.

Listed in Part VII

  • Alexander D Castro

    Vice President

    Total calculated
    $272,513
    From this org
    $0
    From related orgs
    $256,751
    Other
    $15,762
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,751 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,703 related
    Nontaxable benefits
    $0 + $8,059 related
    Filer's total
    $0 + $272,513 related

  • Dirk Schneider

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • Jean Lowe

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Jason Sackett

    President

    Total calculated
    $142,008
    From this org
    $0
    From related orgs
    $139,394
    Other
    $2,614
    Hours/week
    0.1 + 40 related

  • Kathryn Bryan

    Vice President

    Total calculated
    $194,753
    From this org
    $0
    From related orgs
    $182,307
    Other
    $12,446
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,307 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,469 related
    Nontaxable benefits
    $0 + $6,977 related
    Filer's total
    $0 + $194,753 related

  • Ruperto Montero

    Vice President and Treasurer

    Total calculated
    $267,679
    From this org
    $0
    From related orgs
    $251,816
    Other
    $15,863
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,816 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,554 related
    Nontaxable benefits
    $0 + $8,309 related
    Filer's total
    $0 + $267,679 related

  • Leslie W Kernan Jr

    Secretary

    Total calculated
    $210,654
    From this org
    $0
    From related orgs
    $204,518
    Other
    $6,136
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $204,518 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,136 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $210,654 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

  • 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 -$91,081 · share of assets -$616,991

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Clayton Heights LP

    Related · Affordable Housing · NY · 0.01% owned · share of income -$9 · share of assets $180

    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 -$111,868 · share of assets $1,042,393

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Marketview Phase II LP

    Related · Affordable Housing · NY · 99.99% owned · share of income -$2,366 · share of assets $33,808

    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 -$33,143 · share of assets $21,841

    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 -$67,892 · share of assets $106,648

    Directly controlled by Housing Opportunities Housing Development Fund Corporation

  • Baird Road Development LLC

    N/A · Affordable Housing · NY

Related corporations and trusts

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

  • Alliance Homes II Corp

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

  • 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

  • Salem Senior Housing 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
2023
Filed
27 June 2025
IRS schema version
2023v6.0
Source object
202541819349300704

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