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Nonprofiteer
← NAN SHAN LOCAL DEVELOPMENT CORP

Form 990 for tax year 2022

Filed by NAN SHAN LOCAL DEVELOPMENT CORP.

Totals

Total revenue
$1,548,795
Total expenses
$1,765,819
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,481,015
Investment income
$140
Other revenue
$67,640
Total assets, end of year
$19,940,740
Total liabilities, end of year
$19,838,719
Net assets or fund balances, end of year
$102,021
Program services expenses (Part IX)
$1,765,819
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,765,819

Program services were 100.0% 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 $1,066,051 · related or exempt $1,066,051

  • 2b · Program service revenue: COMMON AREA MAINT.

    total $329,842 · related or exempt $329,842

  • 2c · Program service revenue: UTILITY CHARGES

    total $85,122 · related or exempt $85,122

  • 3 · Investment income

    total $140 · unrelated business $140

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $67,640 · related or exempt $67,640

  • 11e · Other revenue, total

    $67,640

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $253,986 · program services $253,986

  • 9 · Other employee benefits

    total $1,735 · program services $1,735

  • 10 · Payroll taxes

    total $14,114 · program services $14,114

  • 11a · Fees: management

    total $39,000 · program services $39,000

  • 11b · Fees: legal

    total $1,125 · program services $1,125

  • 11c · Fees: accounting

    total $6,900 · program services $6,900

  • 11g · Fees: other

    total $1,763 · program services $1,763

  • 13 · Office expenses

    total $837 · program services $837

  • 16 · Occupancy

    total $127,084 · program services $127,084

  • 20 · Interest

    total $423,660 · program services $423,660

  • 22 · Depreciation, depletion and amortization

    total $622,311 · program services $622,311

  • 23 · Insurance

    total $49,997 · program services $49,997

  • 24a · Other expenses: OTHER MISCELLANEOUS EXP

    total $147,686 · program services $147,686

  • 24b · Other expenses: BAD DEBTS

    total $44,655 · program services $44,655

  • 24c · Other expenses: SUPPLIES

    total $30,966 · program services $30,966

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $109,800

  • 4 · Accounts receivable

    beginning of year $14,713 · end of year $126,037

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,490 · end of year $18,736

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

    $23,832,421

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

    $4,152,554

  • 10c · Land, buildings and equipment, net

    beginning of year $20,228,650 · end of year $19,679,867

  • 15 · Other assets

    beginning of year $6,300 · end of year $6,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $173,951 · end of year $42,188

  • 19 · Deferred revenue

    beginning of year $99,417

  • 23 · Secured mortgages and notes payable

    beginning of year $8,883,836 · end of year $8,699,241

  • 25 · Other liabilities

    beginning of year $10,795,904 · end of year $11,097,290

  • 27 · Net assets without donor restrictions

    beginning of year $319,045 · end of year $102,021

Mission and programs · 2022

Mission

TO IMPROVE THE QUALITY OF LIFE OF RESIDENTS IN QUEENS, NEW YORK BY OPERATING AND MAINTAINING FACILITIES WHICH PROVIDE COMMUNITY AND EDUCATIONAL PROGRAMS AND FOSTER EMPLOYMENT OPPORTUNITY.

Activities or mission (Part I)

`TO IMPROVE THE QUALITY OF LIFE FOR RESIDENTS IN QUEENS, NY BY PROVIDING FACILITIES FOR COMMUNITY SERVICES.

  • THE ORGANIZATION OWNS, MANAGES, AND MAINTAINS A BUILDING IN FLUSHING, NEW YORK THAT PROVIDES FACILITIES SPACE FOR COMMUNITY PROGRAMS FOR THE AREA RESIDENTS, INCLUDING JOB SKILLS TRAINING, CHILD CARE, HEALTH, WELLNESS, AND SENIOR SERVICES.

    Expenses $1,765,819 · Revenue $1,548,795

As filed on the 2022 return.

Listed in Part VII

  • Calvin Chin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related

  • Chester P Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related

  • Eddie Mo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 3.5 related

  • Flora Si

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 6.5 related

  • Howard Chin

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 4 related

  • Jay Lau

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Veronica Tsang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.5 related

  • Edgar Pereira

    VICE PRESIDENT

    Total calculated
    $196,035
    From this org
    $0
    From related orgs
    $173,432
    Other
    $22,603
    Hours/week
    0.1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,001 related
    Bonus
    $0
    Other
    $0 + $431 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,603 related
    Filer's total
    $0 + $196,035 related

  • Lilian Jielian Zhao

    CONTROLLER

    Total calculated
    $179,866
    From this org
    $0
    From related orgs
    $154,413
    Other
    $25,453
    Hours/week
    0.1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,861 related
    Bonus
    $0
    Other
    $0 + $552 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $25,453 related
    Filer's total
    $0 + $179,866 related

  • Mitchel Wu

    SECRETARY

    Total calculated
    $128,154
    From this org
    $0
    From related orgs
    $105,551
    Other
    $22,603
    Hours/week
    0.1 + 35 related

  • Wayne Ho

    PRESIDENT & CEO

    Total calculated
    $290,601
    From this org
    $0
    From related orgs
    $261,474
    Other
    $29,127
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $261,076 related
    Bonus
    $0
    Other
    $0 + $398 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $29,127 related
    Filer's total
    $0 + $290,601 related

  • Anthony Fullington

    CFO

    Total calculated
    $119,230
    From this org
    $0
    From related orgs
    $112,394
    Other
    $6,836
    Hours/week
    0.1 + 35 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 II:
THE COMPENSATION OF THE CEO/ PRESIDENT IS ESTABLISHED BY THE MAIN ENITITY, CHINESE-AMERICAN PLANNING COUNCIL, INC.

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.

Related partnerships

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

  • NORFOLK MM LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • 110 FULTON ASSOCATES LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

Related corporations and trusts

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

  • CPC NORFOLK SENIOR INC

    C · HOUSING · NY

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202431359349313383

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