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Nonprofiteer
← CHINATOWN PRESERVATION HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2024

Filed by CHINATOWN PRESERVATION HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$2,433,073
Total expenses
$2,802,017
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,381,502
Investment income
$12,219
Other revenue
$39,352
Total assets, end of year
$23,939,299
Total liabilities, end of year
$27,297,276
Net assets or fund balances, end of year
-$3,357,977
Program services expenses (Part IX)
$2,560,139
Management and general expenses
$241,878
Fundraising expenses
$0
Program service expenses (Part III)
$2,560,139

Program services were 91.4% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $2,376,744 · related or exempt $2,376,744

  • 2b · Program service revenue: BAD DEBT RECOVERIES

    total $4,758 · related or exempt $4,758

  • 3 · Investment income

    total $12,219 · excluded $12,219

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $25,063 · related or exempt $25,063

  • 11b · Other revenue: WATER AND SEWER

    total $13,282 · excluded $13,282

  • 11c · Other revenue: REAL ESTATE TAXES

    total $1,007 · related or exempt $1,007

  • 11e · Other revenue, total

    $39,352

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $555,679 · program services $365,858 · management and general $189,821

  • 11b · Fees: legal

    total $29,093 · program services $15,499 · management and general $13,594

  • 11g · Fees: other

    total $29,483 · program services $15,707 · management and general $13,776

  • 13 · Office expenses

    total $9,617 · management and general $9,617

  • 14 · Information technology

    total $5,950 · program services $5,950

  • 16 · Occupancy

    total $605,438 · program services $605,438

  • 20 · Interest

    total $306,234 · program services $306,234

  • 22 · Depreciation, depletion and amortization

    total $775,058 · program services $775,058

  • 23 · Insurance

    total $210,425 · program services $210,425

  • 24a · Other expenses: VACANCY LOSS

    total $126,033 · program services $126,033

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $78,578 · program services $78,578

  • 24c · Other expenses: OTHER EXPENSES

    total $33,772 · program services $33,772

  • 24d · Other expenses: FILING FEES

    total $21,587 · program services $21,587

  • 24e · All other expenses

    total $15,070 · management and general $15,070

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $609,637 · end of year $341,600

  • 2 · Savings and temporary cash investments

    beginning of year $430,046 · end of year $434,819

  • 4 · Accounts receivable

    beginning of year $23,842 · end of year $5,221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $184,836 · end of year $190,525

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

    $32,973,418

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

    $11,933,730

  • 10c · Land, buildings and equipment, net

    beginning of year $21,669,148 · end of year $21,039,688

  • 15 · Other assets

    beginning of year $1,725,485 · end of year $1,927,446

  • 17 · Accounts payable and accrued expenses

    beginning of year $208,012 · end of year $215,469

  • 19 · Deferred revenue

    beginning of year $16,669 · end of year $4,440

  • 23 · Secured mortgages and notes payable

    beginning of year $27,145,844 · end of year $26,799,902

  • 25 · Other liabilities

    beginning of year $261,502 · end of year $277,465

  • 27 · Net assets without donor restrictions

    beginning of year -$2,989,033 · end of year -$3,357,977

Mission and programs · 2024

Mission

ACQUIRES, PRESERVES, AND OPERATES AFFORDABLE (RENTAL) HOUSING FOR LOW TO MEDIAN INCOME FAMILIES.

Activities or mission (Part I)

ACQUIRES, PRESERVES, AND OPERATES AFFORDABLE RENTAL HOUSING FOR LOW INCOME TO MEDIAN INCOME FAMILIES.

  • THE COMPANY OWNS AND OPERATES SIX LOW-INCOME HOUSING BUILDINGS WITH A TOTAL OF 132 UNITS IN NEW YORK, NEW YORK.

    Expenses $2,560,139 · Revenue $2,407,572

As filed on the 2024 return.

Listed in Part VII

  • Hsueh Lam Yan

    SECRETARY/ ASSET & PROP. MANAGER

    Total calculated
    $220,267
    From this org
    $0
    From related orgs
    $193,724
    Other
    $26,543
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,724 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,909 related
    Nontaxable benefits
    $0 + $18,634 related
    Filer's total
    $0 + $220,267 related

  • My T Chang

    VP/CHIEF OF STAFF

    Total calculated
    $208,865
    From this org
    $0
    From related orgs
    $199,435
    Other
    $9,430
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,435 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,159 related
    Nontaxable benefits
    $0 + $2,271 related
    Filer's total
    $0 + $208,865 related

  • Thomas Yu

    PRESIDENT/ED

    Total calculated
    $345,979
    From this org
    $0
    From related orgs
    $284,107
    Other
    $61,872
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $284,107 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,895 related
    Nontaxable benefits
    $0 + $51,977 related
    Filer's total
    $0 + $345,979 related

  • Hui-Yuan Nelson Chan

    TREASURER/MANG. DIR OF REAL ESTATE

    Total calculated
    $270,854
    From this org
    $0
    From related orgs
    $206,467
    Other
    $64,387
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,467 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,972 related
    Nontaxable benefits
    $0 + $54,415 related
    Filer's total
    $0 + $270,854 related

  • Joy Suzanne Granado

    CHIEF ACCOUNTING OFFICER (OUTGOING)

    Total calculated
    $196,718
    From this org
    $0
    From related orgs
    $175,272
    Other
    $21,446
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,272 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,313 related
    Nontaxable benefits
    $0 + $15,133 related
    Filer's total
    $0 + $196,718 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/ED IS ESTABLISHED BY THE RELATED ENTITY, ASIAN AMERICANS FOR EQUALITY, 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 APARTMENTS LIMITED PARTNERSHIP

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • NORFOLK APARTMENTS II LIMITED PARTNERSHIP

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • EAST VILLAGE HOMES

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • BREMOND KING DAVIS LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

Related corporations and trusts

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

  • HARMONY 106 CORP

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • ONE FLUSHING NP LLC

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • AAFE NEW AMERICAN OPPORTUNITY FUND INC

    C · PROMOTE COMMON GOOD, WELFARE, AND ECONOMIC DEVELOPMMENT IN NY · NY

  • EAST VILLAGE HOMES MANAGER CORP

    C · HOLDING COMPANY · NY

  • EAST VILLAGE HOUSING DEVELOPMENT FUND COMPANY INC

    C · HOLDING COMPANY · NY

Provenance

Return type
form_990
Tax year
2024
Filed
2 October 2025
IRS schema version
2024v5.2
Source object
202542879349301234

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