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Nonprofiteer
← L E R HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by L E R HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$277,109
Total expenses
$382,635
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$277,109
Investment income
$0
Other revenue
$0
Total assets, end of year
$977,704
Total liabilities, end of year
$1,105,250
Net assets or fund balances, end of year
-$127,546
Program services expenses (Part IX)
$375,246
Management and general expenses
$7,389
Fundraising expenses
$0
Program service expenses (Part III)
$375,246

Program services were 98.1% 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 $277,109 · excluded $277,109

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $64,628 · program services $64,628

  • 11b · Fees: legal

    total $527 · program services $527

  • 11c · Fees: accounting

    total $5,500 · management and general $5,500

  • 13 · Office expenses

    total $1,889 · management and general $1,889

  • 22 · Depreciation, depletion and amortization

    total $55,432 · program services $55,432

  • 24a · Other expenses: UTILITIES

    total $128,386 · program services $128,386

  • 24b · Other expenses: INSURANCE

    total $32,995 · program services $32,995

  • 24c · Other expenses: BAD DEBT

    total $23,271 · program services $23,271

  • 24d · Other expenses: REPAIRS

    total $21,774 · program services $21,774

  • 24e · All other expenses

    total $48,233 · program services $48,233

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $94,501 · end of year $62,694

  • 2 · Savings and temporary cash investments

    beginning of year $10,753 · end of year $10,753

  • 4 · Accounts receivable

    beginning of year $23,465 · end of year $28,835

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,525 · end of year $10,923

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

    $1,291,717

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

    $1,107,410

  • 10c · Land, buildings and equipment, net

    beginning of year $239,740 · end of year $184,307

  • 15 · Other assets

    beginning of year $672,967 · end of year $680,192

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,751 · end of year $65,916

  • 25 · Other liabilities

    beginning of year $1,044,219 · end of year $1,039,334

  • 27 · Net assets without donor restrictions

    beginning of year -$22,019 · end of year -$127,546

Mission and programs · 2024

Mission

THIS CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY, PURSUANT TO SECTION 573 OF ARTICLE XI OF THE PHFL

  • RENTALS TO PERSONS OF LOW INCOME.

    Expenses $375,246

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

Listed in Part VII

  • Raul Russi

    PRESIDENT

    Total calculated
    $998,427
    From this org
    $0
    From related orgs
    $896,597
    Other
    $101,830

    Schedule J breakdown matched by us

    Base
    not reported + $896,597 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $101,830 related
    Filer's total
    not reported + $998,427 related

  • Lymaris Albors

    CEO

    Total calculated
    $892,752
    From this org
    $0
    From related orgs
    $836,684
    Other
    $56,068

    Schedule J breakdown matched by us

    Base
    not reported + $836,684 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $56,068 related
    Filer's total
    not reported + $892,752 related

  • Jose R Rodriguez

    CLO/EXEC VP

    Total calculated
    $592,593
    From this org
    $0
    From related orgs
    $562,331
    Other
    $30,262

    Schedule J breakdown matched by us

    Base
    not reported + $562,331 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $30,262 related
    Filer's total
    not reported + $592,593 related

  • Vicky Gatell

    CFO

    Total calculated
    $488,994
    From this org
    $0
    From related orgs
    $442,213
    Other
    $46,781

    Schedule J breakdown matched by us

    Base
    not reported + $442,213 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $46,781 related
    Filer's total
    not reported + $488,994 related

  • Eliezer Rodriguez Esq

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Gilbert Hernandez

    SECRETARY

    Total calculated
    $0

  • Marybeth Hotaling

    TREASURER

    Total calculated
    $0

  • Carmen S Malero

    VICE CHAIR

    Total calculated
    $0

  • Arnie Segarra

    MEMBER

    Total calculated
    $0

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.0
Source object
202523219349308227

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