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Nonprofiteer
← FORTY WEST STREET CORPORATION

Form 990 for tax year 2023

Filed by FORTY WEST STREET CORPORATION.

Totals

Total revenue
$63,028
Total expenses
$125,572
Contributions and grants received
$29,932
Grants paid
$0
Program service revenue
$33,068
Investment income
$28
Other revenue
$0
Total assets, end of year
$888,150
Total liabilities, end of year
$1,676,971
Net assets or fund balances, end of year
-$788,821
Program services expenses (Part IX)
$103,471
Management and general expenses
$22,101
Fundraising expenses
$0
Program service expenses (Part III)
$103,471

Program services were 82.4% 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)

    $29,932

  • 2a · Program service revenue: HUD RENTAL INCOME

    total $33,068 · related or exempt $33,068

  • 3 · Investment income

    total $28 · excluded $28

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $5,364 · management and general $5,364

  • 9 · Other employee benefits

    total $644 · management and general $644

  • 11a · Fees: management

    total $5,090 · management and general $5,090

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 13 · Office expenses

    total $6,936 · program services $6,936

  • 16 · Occupancy

    total $21,302 · program services $21,302

  • 22 · Depreciation, depletion and amortization

    total $61,534 · program services $61,534

  • 23 · Insurance

    total $7,277 · program services $7,277

  • 24a · Other expenses: CONTRACTS EXPENSE

    total $6,422 · program services $6,422

  • 24b · Other expenses: BANK FEES

    total $3 · management and general $3

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $64,776 · end of year $63,868

  • 4 · Accounts receivable

    beginning of year $615 · end of year $2,893

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,599 · end of year $2,920

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

    $1,665,440

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

    $846,971

  • 10c · Land, buildings and equipment, net

    beginning of year $880,003 · end of year $818,469

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,682 · end of year $26,596

  • 21 · Escrow or custodial account liability

    beginning of year $1,762 · end of year $1,762

  • 23 · Secured mortgages and notes payable

    beginning of year $1,647,751 · end of year $1,647,751

  • 25 · Other liabilities

    beginning of year $3,075 · end of year $862

  • 27 · Net assets without donor restrictions

    beginning of year -$726,277 · end of year -$788,821

Mission and programs · 2023

Mission

TO PROVIDE HOUSING AND SUPPORT SERVICES FOR INDIVIDUALS WITH DISABILITIES.

  • TO PROVIDE HOUSING AND SUPPORT SERVICES FOR INDIVIDUALS WITH DISABILITIES.

    Expenses $103,471 · Revenue $33,068

As filed on the 2023 return.

Listed in Part VII

  • Cheryl Chan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Sherie Bombardier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Jeff Chase

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jayne Bowler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Patricia Lawrie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • James Graham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Alex Bowler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Linda Cournoyer

    DIRECTOR EMERITUS

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Kristine Biagiotti-Bridges

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Cindy Sowa Forgit

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Gerald Maldonado

    CLERK

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Erika Burrows

    CHIEF OPERATING OFFICER

    Total calculated
    $144,881
    From this org
    $0
    From related orgs
    $121,124
    Other
    $23,757
    Hours/week
    2 + 40 related

  • Cynthia Howard

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $168,872
    From this org
    $0
    From related orgs
    $135,683
    Other
    $33,189
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,683 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,189 related
    Filer's total
    $0 + $168,872 related

  • Renee Moynagh

    CHIEF FINANCIAL OFFICER

    Total calculated
    $144,620
    From this org
    $0
    From related orgs
    $133,175
    Other
    $11,445
    Hours/week
    2 + 40 related

  • Chad Krause

    VP OF PROGRAMS

    Total calculated
    $125,745
    From this org
    $0
    From related orgs
    $102,493
    Other
    $23,252
    Hours/week
    2 + 40 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

The filer's explanations (Part III)

PART I, LINE 3 - RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION
THE METHOD USED BY THE RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE CEO/PRESIDENT IS APPROVAL BY THE BOARD OF COMPENSATION COMMITTEE.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202511279349301231

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