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Nonprofiteer
← VALLONE ASR HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by VALLONE ASR HOUSING DEVELOPMENT FUND CORPORATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 12 May 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$1,416,974 changed to $910,816
Total expenses
$4,340,341 changed to $1,041,547
Grants paid
$2,434,775 changed to $0
Program service revenue
$1,415,966 changed to $910,517
Investment income
$1,008 changed to $299
Total assets, end of year
$11,730,502 changed to $11,686,911
Total liabilities, end of year
$8,666,486 changed to $8,753,626
Net assets or fund balances, end of year
$3,064,016 changed to $2,933,285
Program services expenses
$4,233,446 changed to $923,874
Management and general expenses
$106,895 changed to $117,673
Program service expenses (Part III)
$4,233,446 changed to $923,874

Totals

Total revenue
$1,416,974
Total expenses
$4,340,341
Contributions and grants received
$0
Grants paid
$2,434,775
Program service revenue
$1,415,966
Investment income
$1,008
Other revenue
$0
Total assets, end of year
$11,730,502
Total liabilities, end of year
$8,666,486
Net assets or fund balances, end of year
$3,064,016
Program services expenses (Part IX)
$4,233,446
Management and general expenses
$106,895
Fundraising expenses
$0
Program service expenses (Part III)
$4,233,446

Program services were 97.5% 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: RENTAL INCOME

    total $1,415,966 · related or exempt $1,415,966

  • 3 · Investment income

    total $1,008 · related or exempt $1,008

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,434,775 · program services $2,434,775

  • 7 · Other salaries and wages

    total $146,176 · program services $146,176

  • 9 · Other employee benefits

    total $30,942 · program services $30,942

  • 10 · Payroll taxes

    total $15,406 · program services $15,406

  • 11a · Fees: management

    total $88,792 · management and general $88,792

  • 11b · Fees: legal

    total $9,469 · program services $9,469

  • 11c · Fees: accounting

    total $18,103 · management and general $18,103

  • 11g · Fees: other

    total $62,211 · program services $62,211

  • 13 · Office expenses

    total $9,829 · program services $9,829

  • 20 · Interest

    total $412,490 · program services $412,490

  • 22 · Depreciation, depletion and amortization

    total $220,107 · program services $220,107

  • 23 · Insurance

    total $115,131 · program services $115,131

  • 24a · Other expenses: IMPROVEMENT RIGHT FEE

    total $322,302 · program services $322,302

  • 24b · Other expenses: UTILITIES

    total $248,380 · program services $248,380

  • 24c · Other expenses: REPAIR AND MAINTENANCE

    total $63,878 · program services $63,878

  • 24d · Other expenses: REAL ESTATE TAXES

    total $62,662 · program services $62,662

  • 24e · All other expenses

    total $79,688 · program services $79,688

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $178,032

  • 4 · Accounts receivable

    end of year $9,626

  • 9 · Prepaid expenses and deferred charges

    end of year $85,476

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

    $8,147,820

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

    $174,386

  • 10c · Land, buildings and equipment, net

    end of year $7,973,434

  • 14 · Intangible assets

    end of year $471,221

  • 15 · Other assets

    end of year $3,012,713

  • 17 · Accounts payable and accrued expenses

    end of year $90,503

  • 19 · Deferred revenue

    end of year $5,115

  • 21 · Escrow or custodial account liability

    end of year $79,452

  • 23 · Secured mortgages and notes payable

    end of year $8,449,000

  • 25 · Other liabilities

    end of year $42,416

  • 27 · Net assets without donor restrictions

    end of year $3,064,016

Mission and programs · 2023

Mission

TO OPERATE LOW INCOME HOUSING FOR SENIOR RESIDENTS

  • PROVIDES LOW INCOME HOUSING TO SENIOR RESIDENTS.

    Expenses $4,233,446 · Grants $2,434,775

As filed on the 2023 return.

Listed in Part VII

  • Costa Constantinides

    VICE PRESIDE

    Total calculated
    $220,136
    From this org
    $0
    From related orgs
    $220,136
    Other
    $0

    Schedule J breakdown matched by us

    Base
    not reported + $220,136 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $220,136 related

  • Kathleen Prager

    TREASURER

    Total calculated
    $0

  • Frank Raffaele

    VICE PRESIDE

    Total calculated
    $0

  • Walter Sanchez

    PRESIDENT

    Total calculated
    $0

  • Catherine Vallone

    SECRETARY

    Total calculated
    $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. 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202433199349312988

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