Skip to content
Nonprofiteer
← MEADOW LANE HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2024

Filed by MEADOW LANE HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$585,313
Total expenses
$762,209
Contributions and grants received
$404,667
Grants paid
$0
Program service revenue
$177,609
Investment income
$346
Other revenue
$2,691
Total assets, end of year
$6,989,145
Total liabilities, end of year
$5,788,017
Net assets or fund balances, end of year
$1,201,128
Program services expenses (Part IX)
$608,427
Management and general expenses
$153,782
Fundraising expenses
$0
Program service expenses (Part III)
$608,427

Program services were 79.8% 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)

    $404,667

  • 2a · Program service revenue: RENTAL INCOME

    total $177,609 · related or exempt $177,609

  • 3 · Investment income

    total $346 · excluded $346

  • 11a · Other revenue: LAUNDRY INCOME

    total $1,740 · excluded $1,740

  • 11b · Other revenue: RECOVERY OF BAD DEBT

    total $951 · excluded $951

  • 11e · Other revenue, total

    $2,691

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $28,800 · management and general $28,800

  • 11c · Fees: accounting

    total $18,000 · management and general $18,000

  • 11g · Fees: other

    total $51,692 · program services $47,459 · management and general $4,233

  • 13 · Office expenses

    total $1,013 · program services $555 · management and general $458

  • 14 · Information technology

    total $6,796 · management and general $6,796

  • 16 · Occupancy

    total $127,135 · program services $127,135

  • 17 · Travel

    total $400 · management and general $400

  • 20 · Interest

    total $1,981 · management and general $1,981

  • 22 · Depreciation, depletion and amortization

    total $229,030 · program services $229,030

  • 23 · Insurance

    total $26,501 · program services $26,501

  • 24a · Other expenses: PURCHASED SERVICES

    total $183,190 · program services $90,076 · management and general $93,114

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $87,671 · program services $87,671

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,875 · end of year $39,363

  • 2 · Savings and temporary cash investments

    beginning of year $110,085 · end of year $114,823

  • 4 · Accounts receivable

    beginning of year $7,361 · end of year $6,411

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,174 · end of year $4,484

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

    $8,677,211

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

    $1,862,659

  • 10c · Land, buildings and equipment, net

    beginning of year $7,022,701 · end of year $6,814,552

  • 15 · Other assets

    beginning of year $9,507 · end of year $9,512

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,825 · end of year $48,225

  • 19 · Deferred revenue

    beginning of year $4,950 · end of year $4,012

  • 21 · Escrow or custodial account liability

    beginning of year $9,507 · end of year $9,512

  • 23 · Secured mortgages and notes payable

    beginning of year $5,708,800 · end of year $5,708,800

  • 25 · Other liabilities

    beginning of year $13,597 · end of year $17,468

  • 27 · Net assets without donor restrictions

    beginning of year $1,299,892 · end of year $1,122,996

  • 28 · Net assets with donor restrictions

    beginning of year $78,132 · end of year $78,132

Mission and programs · 2024

Mission

MEADOW LANE HOUSING DEVELOPMENT FUND COMPANY, INC. ("MEADOW LANE") PURPOSE IS TO DEVELOP, OWN, AND OPERATE, ON A NONPROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME, AND IN PARTICULAR TO PROVIDE ELDERLY PERSONS AND DISABLED PERSONS OF LOW INCOME WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING, THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PREDICATED UPON THE PREVISION, MAINTENANCE, AND OPERATION HEREOF ON A NONPROFIT BASIS.

Activities or mission (Part I)

PROVIDE A 32-UNIT SENIOR HOUSING FACILITY FOR LOW-INCOME ELDERLY PERSONS IN NEW ROCHELLE, NY.

  • MEADOW LANE OWNS AND OPERATES A 32-UNIT SENIOR HOUSING FACILITY FOR LOW-INCOME ELDERLY PERSONS IN NEW ROCHELLE, NEW YORK, UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.

    Expenses $608,427 · Revenue $177,609

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RITA C MABLI

    PRESIDENT & CEO

    Total calculated
    $1,337,211
    From this org
    $0
    From related orgs
    $1,250,151
    Other
    $87,060
    Hours/week
    0.5 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,129,431 related
    Bonus
    $0 + $24,400 related
    Other
    $0 + $96,320 related
    Deferred
    $0 + $12,075 related
    Nontaxable benefits
    $0 + $74,985 related
    Filer's total
    $0 + $1,337,211 related

  • ROSEMARY MCLAUGHLIN

    CHAIRWOMAN

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • MALCOLM LAZARUS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 3.1 related

  • MARK HARTMAN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • ANTHONY NARDOZZI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • RABIA DE LANDE LONG

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $0
    From related orgs
    $4,500
    Other
    $0
    Hours/week
    0.5 + 1 related

  • CHRISTINA L VILLANUEVA

    CFO

    Total calculated
    $403,773
    From this org
    $0
    From related orgs
    $359,430
    Other
    $44,343
    Hours/week
    0.5 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $358,785 related
    Bonus
    $0
    Other
    $0 + $645 related
    Deferred
    $0 + $12,075 related
    Nontaxable benefits
    $0 + $32,268 related
    Filer's total
    $0 + $403,773 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
THE COMPENSATION OF THE PRESIDENT AND CEO IS PAID BY A RELATED ORGANIZATION, UNITED HEBREW GERIATRIC CENTER. THE SENIOR CHAIR AND THE SECRETARY OF THE BOARD SHALL CONSTITUTE AN AD-HOC COMPENSATION COMMITTEE. THE SENIOR CHAIR IS EMPOWERED AND AUTHORIZED TO NEGOTIATE AN EMPLOYMENT AGREEMENT WITH THE PRESIDENT & CEO AND ANY MODIFICATIONS OR EXTENSIONS THERETO IN ACCORDANCE WITH TERMS AND CONDITIONS ESTABLISHED BY THE AD-HOC COMPENSATION COMMITTEE. ANY MEMBER OF THE BOARD MAY REVIEW THE TERMS OF ALL SUCH EMPLOYMENT AGREEMENTS WITH THE SENIOR CHAIR. THE REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE IS DOCUMENTED IN THE MEETING MINUTES. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2024.

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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349325296

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.