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← MERCY HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by MERCY HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$585,140
Total expenses
$651,250
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$581,049
Investment income
$1,263
Other revenue
$2,828
Total assets, end of year
$2,178,539
Total liabilities, end of year
$1,975,768
Net assets or fund balances, end of year
$202,771
Program services expenses (Part IX)
$576,661
Management and general expenses
$74,589
Fundraising expenses
$0
Program service expenses (Part III)
$576,661

Program services were 88.5% 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 - NET OF

    total $581,049 · related or exempt $581,049

  • 3 · Investment income

    total $1,263 · excluded $1,263

  • 11a · Other revenue: LAUNDRY/VENDING REVENU

    total $1,745 · excluded $1,745

  • 11b · Other revenue: TENANT CHARGES

    total $1,067 · excluded $1,067

  • 11c · Other revenue: MISCELLANEOUS REVENUE

    total $16 · excluded $16

  • 11e · Other revenue, total

    $2,828

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $126,943 · program services $126,943

  • 9 · Other employee benefits

    total $31,328 · program services $31,328

  • 10 · Payroll taxes

    total $10,505 · program services $10,505

  • 11a · Fees: management

    total $38,352 · management and general $38,352

  • 11b · Fees: legal

    total $846 · management and general $846

  • 11c · Fees: accounting

    total $12,398 · management and general $12,398

  • 12 · Advertising and promotion

    total $217 · management and general $217

  • 13 · Office expenses

    total $49,028 · program services $26,465 · management and general $22,563

  • 16 · Occupancy

    total $45,584 · program services $45,584

  • 19 · Conferences, conventions and meetings

    total $213 · management and general $213

  • 20 · Interest

    total $79,343 · program services $79,343

  • 22 · Depreciation, depletion and amortization

    total $155,952 · program services $155,952

  • 23 · Insurance

    total $33,112 · program services $33,112

  • 24a · Other expenses: EQUIPMENT RENTAL & MAIN

    total $42,852 · program services $42,852

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $11,941 · program services $11,941

  • 24c · Other expenses: SNOW REMOVAL

    total $8,257 · program services $8,257

  • 24d · Other expenses: TRASH REMOVAL

    total $4,181 · program services $4,181

  • 24e · All other expenses

    total $198 · program services $198

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,011 · end of year $841

  • 4 · Accounts receivable

    beginning of year $9,873 · end of year $1,594

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,024 · end of year $21,948

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

    $4,221,359

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

    $2,622,220

  • 10c · Land, buildings and equipment, net

    beginning of year $1,755,091 · end of year $1,599,139

  • 15 · Other assets

    beginning of year $500,888 · end of year $555,017

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,217 · end of year $33,559

  • 19 · Deferred revenue

    beginning of year $0 · end of year $787

  • 23 · Secured mortgages and notes payable

    beginning of year $1,978,090 · end of year $1,927,922

  • 25 · Other liabilities

    beginning of year $12,699 · end of year $13,500

  • 27 · Net assets without donor restrictions

    beginning of year $268,881 · end of year $202,771

Mission and programs · 2022

Mission

THE ORGANIZATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN, AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NON-PROFIT BASIS PURSUANT TO ATRICLE XI OF THE PRIVATE HOUSING FINANCE LAW OF THE STATE OF NEW YORK.

Activities or mission (Part I)

LOW-INCOME HOUSING PROJECT

  • MERCY HOUSING DEVELOPMENT FUND COMPANY, INC. OPERATES A 40-UNIT FEDERALLY SUBSIDIZED HOUSING PROJECT FOR ELDERLY AND LOW-INCOME PERSONS, ON A NON-PROFIT BASIS.

    Expenses $576,661 · Revenue $581,049

As filed on the 2022 return.

Listed in Part VII

  • Fredrick Zolna

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Michel

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Steve Schaefer

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Cindy Falise

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • John Sindoni

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202402289349303800

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