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← BROOKDALE RESIDENCE HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by BROOKDALE RESIDENCE HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,357,556
Total expenses
$1,525,142
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,355,359
Investment income
$2,197
Other revenue
$0
Total assets, end of year
$2,618,477
Total liabilities, end of year
$9,180,420
Net assets or fund balances, end of year
-$6,561,943
Program services expenses (Part IX)
$1,412,391
Management and general expenses
$112,751
Fundraising expenses
$0
Program service expenses (Part III)
$1,412,391

Program services were 92.6% 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 $1,355,359 · related or exempt $1,355,359

  • 3 · Investment income

    total $2,197 · excluded $2,197

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $301,462 · program services $301,462

  • 9 · Other employee benefits

    total $105,251 · program services $105,251

  • 10 · Payroll taxes

    total $12,744 · program services $12,744

  • 11a · Fees: management

    total $84,905 · management and general $84,905

  • 11b · Fees: legal

    total $395 · program services $395

  • 11c · Fees: accounting

    total $17,500 · management and general $17,500

  • 11g · Fees: other

    total $662 · management and general $662

  • 13 · Office expenses

    total $1,723 · program services $1,723

  • 16 · Occupancy

    total $395,653 · program services $395,653

  • 22 · Depreciation, depletion and amortization

    total $142,399 · program services $142,399

  • 23 · Insurance

    total $41,018 · program services $41,018

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $208,718 · program services $208,718

  • 24b · Other expenses: SECURITY

    total $190,513 · program services $190,513

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $10,712 · program services $10,712

  • 24d · Other expenses: MISCELLANEOUS ADMIN EXP

    total $9,151 · management and general $9,151

  • 24e · All other expenses

    total $2,336 · program services $1,803 · management and general $533

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $47,767 · end of year $52,272

  • 4 · Accounts receivable

    beginning of year $27,985 · end of year $34,861

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,362 · end of year $4,803

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

    $10,224,785

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

    $7,978,294

  • 10c · Land, buildings and equipment, net

    beginning of year $2,373,874 · end of year $2,246,491

  • 15 · Other assets

    beginning of year $240,465 · end of year $280,050

  • 17 · Accounts payable and accrued expenses

    beginning of year $494,581 · end of year $576,645

  • 19 · Deferred revenue

    beginning of year $6,846 · end of year $11,787

  • 23 · Secured mortgages and notes payable

    beginning of year $8,568,100 · end of year $8,568,100

  • 25 · Other liabilities

    beginning of year $18,283 · end of year $23,888

  • 27 · Net assets without donor restrictions

    beginning of year -$6,394,357 · end of year -$6,561,943

Mission and programs · 2022

Mission

THE BROOKDALE RESIDENCE HOUSING

Activities or mission (Part I)

THE BROOKDALE RESIDENCE HOUSING DEVELOPMENT FUND CORPORATION OWNS AND OPERATES A RESIDENTIAL BUILDING IN BROOKLYN, NEW YORK AND PROVIDES HOUSING EXCLUSIVELY FOR ELDERLY AND DISABELED PERSONS OF LOW INCOME.

  • THE BROOKDALE RESIDENCE HOUSING DEVELOPMENT FUND CORPORATION IS A NOT FOR PROFIT CORPORATION CREATED TO OWN AND TO OPERATE A RESIDENTIAL BUILDING IN BROOKLYN, NEW YORK AND PROVIDES HOUSING EXCLUSIVELY FOR ELDERLY AND DISABLED PERSONS OF LOW INCOME. THERE ARE CURRENTLY 87 UNITS AVAILABLE.

    Expenses $1,412,391 · Revenue $1,355,359

As filed on the 2022 return.

Listed in Part VII

  • Genevieve Sorenson

    CHAIR/PRESIDENT/BOARD MEMB

    Total calculated
    $407,895
    From this org
    $0
    From related orgs
    $398,607
    Other
    $9,288
    Hours/week
    0.05 + 45.35 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,749 related
    Bonus
    $0
    Other
    $0 + $6,858 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,288 related
    Filer's total
    $0 + $407,895 related

  • Gerard Connolly

    VICE PRESIDENT/BOARD MEMBE

    Total calculated
    $352,708
    From this org
    $0
    From related orgs
    $322,406
    Other
    $30,302
    Hours/week
    0.05 + 45.35 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,157 related
    Bonus
    $0
    Other
    $0 + $2,249 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $30,302 related
    Filer's total
    $0 + $352,708 related

  • Reginald Bullock Jr

    SECRETARY

    Total calculated
    $448,297
    From this org
    $0
    From related orgs
    $420,845
    Other
    $27,452
    Hours/week
    0.05 + 45.35 related

    Schedule J breakdown matched by us

    Base
    $0 + $417,764 related
    Bonus
    $0
    Other
    $0 + $3,081 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $27,452 related
    Filer's total
    $0 + $448,297 related

  • Robert Palermo

    FORMER CFO

    Total calculated
    $171,793
    From this org
    $0
    From related orgs
    $166,974
    Other
    $4,819
    Hours/week
    0.05 + 45.35 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,652 related
    Bonus
    $0
    Other
    $0 + $2,322 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $4,819 related
    Filer's total
    $0 + $171,793 related

  • John Schmitt

    CFO

    Total calculated
    $635,746
    From this org
    $0
    From related orgs
    $602,612
    Other
    $33,134
    Hours/week
    0.05 + 45.35 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,728 related
    Bonus
    $0
    Other
    $0 + $12,884 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,134 related
    Filer's total
    $0 + $635,746 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Related corporations and trusts

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

  • BROOKDALE RX

    C · RETAIL PHARMACY · NY

  • INTERFAITH EMERGENCY MEDICINE PC

    C · PHYSICIAN BILLING · NY

  • INTERFAITH PROFESSIONAL PHYSICIAN SVC PC

    C · PHYSICIAN BILLING · NY

  • INTERFAITH PSYCHIATRY SERVICES PC

    C · PHYSICIAN BILLING · NY

  • SMILE BROOKLYN DENTAL PC

    C · PHYSICIAN BILLING · NY

  • KSI INC

    C · INACTIVE · NY

  • SINGULAB INC

    C · INACTIVE · DE

  • ATM NURSE REGISTRY

    C · INACTIVE · NY

  • KINGSBROOK LTACH INC

    C · INACTIVE · NY

  • KINGSBROOK MEDICAL ASSOCIATES PC

    C · BILLING & COLLECTING · NY

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202343189349306739

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