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← SISTERS OF CHARITY HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SISTERS OF CHARITY HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$17,171,940
Total expenses
$2,493,986
Contributions and grants received
$16,302,949
Grants paid
$0
Program service revenue
$728,919
Investment income
$130,047
Other revenue
$10,025
Total assets, end of year
$19,187,506
Total liabilities, end of year
$309,339
Net assets or fund balances, end of year
$18,878,167
Program services expenses (Part IX)
$2,189,399
Management and general expenses
$304,587
Fundraising expenses
$0
Program service expenses (Part III)
$2,189,399

Program services were 87.8% 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.

  • 1e · Government grants (contributions)

    $1,079,098

  • 1f · All other contributions, gifts and grants

    $15,223,851

  • 2a · Program service revenue: HOUSING SERVICES

    total $714,839 · related or exempt $714,839

  • 2b · Program service revenue: PARTNERSHIP FEE INCOME

    total $7,562 · related or exempt $7,562

  • 2c · Program service revenue: DEFERRED DEVELOPER FEE INTEREST I

    total $6,518 · related or exempt $6,518

  • 3 · Investment income

    total $146,558 · excluded $146,558

  • 7a · Gross sales of assets other than inventory

    securities $570,923

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

    securities $587,434

  • 7c · Gain or loss

    securities -$16,511

  • 7d · Net gain or loss

    total -$16,511 · excluded -$16,511

  • 11a · Other revenue: MISCELLANEOUS

    total $10,025 · related or exempt $10,025

  • 11e · Other revenue, total

    $10,025

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $370,167 · program services $296,134 · management and general $74,033

  • 7 · Other salaries and wages

    total $881,492 · program services $868,493 · management and general $12,999

  • 9 · Other employee benefits

    total $97,230 · program services $90,469 · management and general $6,761

  • 10 · Payroll taxes

    total $79,407 · program services $73,886 · management and general $5,521

  • 11b · Fees: legal

    total $46,831 · management and general $46,831

  • 11c · Fees: accounting

    total $41,083 · management and general $41,083

  • 13 · Office expenses

    total $206,433 · program services $94,172 · management and general $112,261

  • 20 · Interest

    total $4,834 · program services $4,834

  • 22 · Depreciation, depletion and amortization

    total $2,468 · program services $2,468

  • 23 · Insurance

    total $26,303 · program services $26,303

  • 24a · Other expenses: TENANT RENT SUBSIDY

    total $562,039 · program services $562,039

  • 24b · Other expenses: SERVICE

    total $103,364 · program services $103,364

  • 24c · Other expenses: DEVELOPMENT EXPENSE

    total $64,802 · program services $64,802

  • 24d · Other expenses: MISCELLANEOUS

    total $5,098 · management and general $5,098

  • 24e · All other expenses

    total $2,435 · program services $2,435

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $729,362 · end of year $4,145,479

  • 2 · Savings and temporary cash investments

    beginning of year $310,817

  • 4 · Accounts receivable

    beginning of year $197,824 · end of year $135,449

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,392 · end of year $3,253

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

    $20,732

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

    $2,468

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $18,264

  • 11 · Investments: publicly traded securities

    end of year $11,632,345

  • 15 · Other assets

    beginning of year $2,865,502 · end of year $3,252,716

  • 17 · Accounts payable and accrued expenses

    beginning of year $97,173 · end of year $51,880

  • 23 · Secured mortgages and notes payable

    beginning of year $1,200,000

  • 25 · Other liabilities

    beginning of year $253,548 · end of year $257,459

  • 27 · Net assets without donor restrictions

    beginning of year $2,494,372 · end of year $18,830,913

  • 28 · Net assets with donor restrictions

    beginning of year $60,804 · end of year $47,254

Mission and programs · 2023

Mission

TO PROVIDE HOUSING AND RELATED SERVICES TO THE POOR ELDERLY ON A NONPROFIT BASIS.

Activities or mission (Part I)

FOSTER, PLAN, DEVELOP AND COORDINATE THE ACTIVITIES OF AFFILIATED ORGANIZATIONS WHICH PROVIDE LOW-INCOME HOUSING.

  • DEVELOPMENT OF AFFORDABLE HOUSING FOR THE COMMUNITY.

    Expenses $2,189,399 · Revenue $738,944

As filed on the 2023 return.

Listed in Part VII

  • James Landy

    VICE-CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ann Marie Smith

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Margaret Sweeney Op

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Donna Dodge Sc

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Mary Ann Daly Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Brian Doran Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Eileen McGrory Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Sheila Brosnan Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Margaret O'Brien Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Claire Regan Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cathleen Tobin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lawrence McElroen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lynne Bongiovanni

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sharon Dosin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Matthew Janeczko

    EXECUTIVE DIRECTOR

    Total calculated
    $370,472
    From this org
    $370,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $370,472
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $370,472

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SETON VILLAGE COLLABORATIVE LLC

    LIMITED PARTNER OF SETON VILLAGE PHASE I, LP · NY · income $945 · assets $1,215,498

  • SCOPE HOUSING DEVELOPMENT LLC

    TO BENEFIT AND SUPPORT THE CHARITABLE ACTIVITIES OF ITS MEMBER · NY · income $11,231,339 · assets $11,231,339

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SETON VILLAGE PHASE I LP

    N/A · PROVIDE HOUSING TO THE ELDERLY · NY · 99.9% owned · share of income -$600,811 · share of assets $1,626,695

  • LAFAYETTE MANOR LP

    N/A · LOW INCOME HOUSING FOR THE ELDERLY · NY

  • VINCENT'S VILLAGE ASSOCIATES LLC

    N/A · PROVIDE LOW INCOME HOUSING · NY

Related corporations and trusts

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

  • THORPE VILLAGE INC

    PROVIDE MANAGEMENT SERVICES TO LOW INCOME HOUSING PROJECTS · NY · 100% owned · share of income $36,286 · share of assets $357,979

    Directly controlled by SISTERS OF CHARITY HOUSING DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
5 August 2024
IRS schema version
2023v5.1
Source object
202412189349300331

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