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Nonprofiteer
← LIBERTY AFFORDABLE HOUSING INC

Form 990 for tax year 2024

Filed by LIBERTY AFFORDABLE HOUSING INC.

Totals

Total revenue
$2,337,529
Total expenses
$2,035,506
Contributions and grants received
$20,000
Grants paid
$0
Program service revenue
$1,968,238
Investment income
$267,433
Other revenue
$81,858
Total assets, end of year
$43,654,399
Total liabilities, end of year
$1,675,712
Net assets or fund balances, end of year
$41,978,687
Program services expenses (Part IX)
$1,470,310
Management and general expenses
$565,196
Fundraising expenses
$0
Program service expenses (Part III)
$1,470,310

Program services were 72.2% 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.

  • 1f · All other contributions, gifts and grants

    $20,000

  • 2a · Program service revenue: PROGRAM SERVICE REVENU

    total $1,968,238 · related or exempt $1,968,238

  • 3 · Investment income

    total $280,467 · related or exempt $180,308 · excluded $100,159

  • 7a · Gross sales of assets other than inventory

    other assets $51,000

  • 7b · Less cost or other basis and sales expenses

    other assets $64,034

  • 7c · Gain or loss

    other assets -$13,034

  • 7d · Net gain or loss

    total -$13,034 · related or exempt -$13,034

  • 11a · Other revenue: RENTAL INCOME

    total $51,907 · related or exempt $51,907

  • 11b · Other revenue: UNREALIZED GAIN ON US

    total $29,951 · excluded $29,951

  • 11e · Other revenue, total

    $81,858

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,064,050 · program services $638,430 · management and general $425,620

  • 11b · Fees: legal

    total $144,782 · program services $144,782

  • 11c · Fees: accounting

    total $28,872 · program services $28,872

  • 12 · Advertising and promotion

    total $14,908 · management and general $14,908

  • 13 · Office expenses

    total $36,727 · program services $18,364 · management and general $18,363

  • 14 · Information technology

    total $47,043 · program services $47,043

  • 16 · Occupancy

    total $86,601 · program services $43,301 · management and general $43,300

  • 17 · Travel

    total $32,118 · program services $32,118

  • 19 · Conferences, conventions and meetings

    total $46,975 · program services $23,488 · management and general $23,487

  • 20 · Interest

    total $83,933 · program services $83,933

  • 22 · Depreciation, depletion and amortization

    total $46,626 · program services $46,626

  • 23 · Insurance

    total $40,316 · program services $6,854 · management and general $33,462

  • 24a · Other expenses: PROJECT & DEVELOPMENT C

    total $339,437 · program services $339,437

  • 24b · Other expenses: ENTERTAINMENT

    total $9,322 · program services $9,322

  • 24c · Other expenses: TELEPHONE

    total $6,813 · program services $3,407 · management and general $3,406

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $3,127 · program services $3,127

  • 24e · All other expenses

    total $3,856 · program services $1,206 · management and general $2,650

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $858,827 · end of year $820,582

  • 2 · Savings and temporary cash investments

    beginning of year $1,774,106 · end of year $1,072,928

  • 4 · Accounts receivable

    beginning of year $30,706 · end of year $0

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

    $312,162

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

    $60,821

  • 10c · Land, buildings and equipment, net

    beginning of year $159,603 · end of year $251,341

  • 15 · Other assets

    beginning of year $40,675,669 · end of year $41,509,548

  • 17 · Accounts payable and accrued expenses

    beginning of year $167,123 · end of year $219,007

  • 23 · Secured mortgages and notes payable

    beginning of year $966,577 · end of year $998,877

  • 24 · Unsecured notes and loans payable

    beginning of year $475,000 · end of year $457,828

  • 25 · Other liabilities

    beginning of year $213,549 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $41,676,662 · end of year $41,978,687

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE, SECURE HOUSING TO LOWER INCOME AND ELDERLY TENANTS.

  • PROVIDED AFFORDABLE, SECURE HOUSING TO LOWER INCOME AND ELDERLY TENANTS.

    Expenses $1,470,310 · Revenue $1,968,238

As filed on the 2024 return.

Listed in Part VII

  • David Carello

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Donald Davidson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • John Buffa

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • David Collis

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Walter Madej

    CHAPLAIN

    Total calculated
    $0
    Hours/week
    0

  • Patricia Caprio

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Timothy Birnie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Frederick T Griffin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • John N Vagianelis Esq

    COUNSEL

    Total calculated
    $0
    Hours/week
    0

  • Matthew Nimey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • John B Ligas

    DIRECTOR EMERITUS

    Total calculated
    $0
    Hours/week
    0

  • Christina Sanfilippo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Charmaine Rosado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Robert Ryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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

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.

  • MILL STREAM MANOR LIMITED PARTNERSHIP

    RELATED · LOW-INCOME HOUSING · NY · 95% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • WALTON HOUSING ASSOCIATES LP

    RELATED · LOW-INCOME HOUSING · NY · 50% owned · general or managing partner

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • CEDARS HOUSING II LP

    RELATED · LOW-INCOME HOUSING · VT · 1% owned

  • ROTTERDAM HOUSING GROUP LP

    RELATED · LOW-INCOME HOUSING · NY · 99% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • ROTTERDAM PARTNERS LP

    RELATED · LOW-INCOME HOUSING · NY · 99% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • COBLESKILL HOUSING GROUP LP

    RELATED · LOW-INCOME HOUSING · NY · 99% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • NEW YORK MILLS REDEV CO LLC

    RELATED · LOW-INCOME HOUSING · NY · 1% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • PARK DRIVE MANOR II REDEVELOPMENT CO LLC

    RELATED · LOW-INCOME HOUSING · NY · 99.99% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

  • MOUNTAINVIEW ESTATES LLC

    RELATED · LOW-INCOME HOUSING · NY · 96.99% owned

    Directly controlled by LIBERTY AFFORDABLE HOUSING INC

Related corporations and trusts

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

  • 700 CORNELIA STREET LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT 100 CHENANGO PLACE LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT GREENWAY LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT ASHFIELD LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • ELIZABETH SQUARE REDEVELOPMENT CO

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY CNY HOUSING LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • MARINER TOWNHOUSES LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • SPRINGBROOK MANOR LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT KNITTING MILL LLC

    C · LOW-INCOME HOUSING · MA

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT CLINTON PLAZA LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT ROBINSON SQUARE LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT PARK EDGE LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • LIBERTY AT OLBISTON LLC

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

  • 34 SOUTH MAIN HOUSING DEV FUND

    C · LOW-INCOME HOUSING · NY

    Directly controlled by LIBERTY AFFORDABLE HOUSINGINC

Provenance

Return type
form_990
Tax year
2024
Filed
16 October 2025
IRS schema version
2024v5.2
Source object
202542899349300129

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