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← HIGHBRIDGE SENIOR HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by HIGHBRIDGE SENIOR HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,224,392
Total expenses
$1,570,225
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,223,038
Investment income
$1,354
Other revenue
$0
Total assets, end of year
$4,189,471
Total liabilities, end of year
$10,073,395
Net assets or fund balances, end of year
-$5,883,924
Program services expenses (Part IX)
$1,468,551
Management and general expenses
$101,674
Fundraising expenses
$0
Program service expenses (Part III)
$1,468,551

Program services were 93.5% 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: RENT REVENUE

    total $1,218,233 · related or exempt $1,218,233

  • 2b · Program service revenue: OTHER REVENUE

    total $4,805 · related or exempt $4,805

  • 3 · Investment income

    total $1,354 · related or exempt $1,354

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $158,047 · program services $158,047

  • 9 · Other employee benefits

    total $53,486 · program services $53,486

  • 10 · Payroll taxes

    total $7,933 · program services $7,933

  • 11a · Fees: management

    total $88,199 · management and general $88,199

  • 11c · Fees: accounting

    total $13,475 · management and general $13,475

  • 11g · Fees: other

    total $6,169 · program services $6,169

  • 13 · Office expenses

    total $35,117 · program services $35,117

  • 20 · Interest

    total $1,862 · program services $1,862

  • 22 · Depreciation, depletion and amortization

    total $350,288 · program services $350,288

  • 23 · Insurance

    total $71,846 · program services $71,846

  • 24a · Other expenses: SECURITY

    total $258,396 · program services $258,396

  • 24b · Other expenses: REPAIRS

    total $222,190 · program services $222,190

  • 24c · Other expenses: REAL ESTATE TAXES

    total $131,602 · program services $131,602

  • 24d · Other expenses: UTILITIES

    total $93,691 · program services $93,691

  • 24e · All other expenses

    total $77,924 · program services $77,924

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $51,557 · end of year $29,040

  • 4 · Accounts receivable

    beginning of year $3,069 · end of year $2,786

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,271 · end of year $69,467

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

    $9,810,527

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

    $6,335,339

  • 10c · Land, buildings and equipment, net

    beginning of year $3,824,988 · end of year $3,475,188

  • 14 · Intangible assets

    beginning of year $11,326 · end of year $10,838

  • 15 · Other assets

    beginning of year $547,920 · end of year $602,152

  • 17 · Accounts payable and accrued expenses

    beginning of year $233,484 · end of year $298,040

  • 19 · Deferred revenue

    beginning of year $13,768 · end of year $12,662

  • 21 · Escrow or custodial account liability

    beginning of year $23,527 · end of year $25,219

  • 23 · Secured mortgages and notes payable

    beginning of year $9,707,300 · end of year $9,707,300

  • 25 · Other liabilities

    beginning of year $58,143 · end of year $30,174

  • 27 · Net assets without donor restrictions

    beginning of year -$5,538,091 · end of year -$5,883,924

Mission and programs · 2022

Mission

TO PROVIDE HOUSING FOR LOW INCOME SENIORS

  • PROVIDING OF HOUSING FOR LOW INCOME SENIORS

    Expenses $1,468,551 · Revenue $1,223,038

As filed on the 2022 return.

Listed in Part VII

  • MSGR DONALD SAKANO

    CHAIRMAN

    Total calculated
    $0

  • REV MARK CREGAN

    TREASURER

    Total calculated
    $0

  • KENNETH BROWNE

    DIRECTOR

    Total calculated
    $0

  • REV JOSEPH FRANCO

    DIRECTOR

    Total calculated
    $0

  • KEN SINGLETON

    DIRECTOR

    Total calculated
    $0

  • KOBINA ARHIN

    SVP/CEO

    Total calculated
    $302,532
    From this org
    $0
    From related orgs
    $302,532
    Other
    $0
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    not reported + $302,532 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $302,532 related

  • SIMONE O BRISCO

    CONTROLLER

    Total calculated
    $114,250
    From this org
    $0
    From related orgs
    $114,250
    Other
    $0
    Hours/week
    1 + 34 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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202313189349306366

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