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Nonprofiteer
← THORPE HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by THORPE HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$4,032,178
Total expenses
$18,517,945
Contributions and grants received
$0
Grants paid
$13,164,515
Program service revenue
$3,948,555
Investment income
$45,247
Other revenue
$38,376
Total assets, end of year
$14,774,881
Total liabilities, end of year
$22,159,127
Net assets or fund balances, end of year
-$7,384,246
Program services expenses (Part IX)
$17,816,926
Management and general expenses
$701,019
Fundraising expenses
$0
Program service expenses (Part III)
$17,816,926

Program services were 96.2% 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: SUBSIDY INCOME

    total $2,819,021 · related or exempt $2,819,021

  • 2b · Program service revenue: AFFORDABLE HOUSING REN

    total $1,129,534 · related or exempt $1,129,534

  • 3 · Investment income

    total $45,247 · excluded $45,247

  • 11a · Other revenue: LAUNDRY INCOME

    total $21,252 · excluded $21,252

  • 11b · Other revenue: MISC. INCOME

    total $10,270 · excluded $10,270

  • 11c · Other revenue: OFFICE RENT

    total $4,880 · excluded $4,880

  • 11d · All other revenue

    total $1,974 · excluded $1,974

  • 11e · Other revenue, total

    $38,376

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,164,515 · program services $13,164,515

  • 7 · Other salaries and wages

    total $455,208 · program services $235,977 · management and general $219,231

  • 8 · Pension plan contributions

    total $27,074 · program services $27,074

  • 9 · Other employee benefits

    total $64,572 · program services $64,572

  • 10 · Payroll taxes

    total $38,433 · program services $38,433

  • 11a · Fees: management

    total $224,706 · management and general $224,706

  • 11b · Fees: legal

    total $3,675 · management and general $3,675

  • 11c · Fees: accounting

    total $29,515 · management and general $29,515

  • 13 · Office expenses

    total $30,463 · management and general $30,463

  • 16 · Occupancy

    total $172,191 · program services $172,191

  • 20 · Interest

    total $2,611,927 · program services $2,611,927

  • 22 · Depreciation, depletion and amortization

    total $548,694 · program services $548,694

  • 23 · Insurance

    total $359,480 · program services $359,480

  • 24a · Other expenses: REPAIRS, MAINTENANCE AN

    total $220,743 · program services $220,743

  • 24b · Other expenses: REAL ESTATE TAXES

    total $172,682 · program services $172,682

  • 24c · Other expenses: BOOKKEEPING

    total $102,825 · management and general $102,825

  • 24d · Other expenses: GROUNDS & SECURITY CONT

    total $96,834 · program services $96,834

  • 24e · All other expenses

    total $194,408 · program services $103,804 · management and general $90,604

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $508,338 · end of year $412,684

  • 2 · Savings and temporary cash investments

    beginning of year $711,048

  • 4 · Accounts receivable

    beginning of year $107,686 · end of year $96,367

  • 9 · Prepaid expenses and deferred charges

    beginning of year $252,366 · end of year $303,027

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

    $30,958,986

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

    $17,735,039

  • 10c · Land, buildings and equipment, net

    beginning of year $13,606,634 · end of year $13,223,947

  • 15 · Other assets

    beginning of year $4,715,682 · end of year $738,856

  • 17 · Accounts payable and accrued expenses

    beginning of year $194,772 · end of year $169,418

  • 19 · Deferred revenue

    beginning of year $2,103

  • 23 · Secured mortgages and notes payable

    beginning of year $12,507,590 · end of year $21,895,110

  • 25 · Other liabilities

    beginning of year $95,768 · end of year $94,599

  • 27 · Net assets without donor restrictions

    beginning of year $7,101,521 · end of year -$7,384,246

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING TO LOW-INCOME SENIOR CITIZENS AND HANDICAPPED.

  • PROVIDES AFFORDABLE RESIDENTIAL HOUSING TO LOW-INCOME SENIOR CITIZENS AND HANDICAPPED.

    Expenses $17,816,926 · Grants $13,164,515 · Revenue $3,948,555

As filed on the 2023 return.

Listed in Part VII

  • Sr Eileen Gannon

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sr Mary Dunning

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sr Maryann Summa

    TREASURER

    Total calculated
    $0
    Hours/week
    9 + 2 related

  • Sr Lesley Block

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sr Aileen Donovan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Spillane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Quinn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mary Loftus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Janeczko

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 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.

Grants 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.

  • SCOPE HOUSING DEVELOPMENT LLC

    TO BENEFIT AND SUPPORT THE CHARITABLE ACTIVITIES OF ITS MEMBER SCHDC · NY

Related corporations and trusts

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

  • THORPE VILLAGE INC

    C · MANAGEMENT · NY

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202500169349301355

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