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← SDF EAST 243RD STREET HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by SDF EAST 243RD STREET HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$2,496,887
Total expenses
$4,142,327
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$706,010
Investment income
$0
Other revenue
$1,790,877
Total assets, end of year
$50,402,955
Total liabilities, end of year
$50,810,978
Net assets or fund balances, end of year
-$408,023
Program services expenses (Part IX)
$3,667,117
Management and general expenses
$475,210
Fundraising expenses
$0
Program service expenses (Part III)
$3,667,117

Program services were 88.5% 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: SUBSIDY CITY FHEPS

    total $542,088 · related or exempt $542,088

  • 2b · Program service revenue: SUBSIDY HRA

    total $163,922 · related or exempt $163,922

  • 6a · Gross rents

    real property $1,757,419

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,757,419

  • 6d · Net rental income or loss

    total $1,757,419 · related or exempt $1,757,419

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $33,458 · related or exempt $33,458

  • 11e · Other revenue, total

    $33,458

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $115,647 · program services $115,647

  • 8 · Pension plan contributions

    total $2,749 · program services $2,749

  • 9 · Other employee benefits

    total $7,464 · program services $7,464

  • 10 · Payroll taxes

    total $8,860 · program services $8,860

  • 11a · Fees: management

    total $81,901 · program services $81,901

  • 11b · Fees: legal

    total $21,280 · management and general $21,280

  • 11g · Fees: other

    total $21,830 · management and general $21,830

  • 13 · Office expenses

    total $272,927 · management and general $272,927

  • 16 · Occupancy

    total $568,359 · program services $568,359

  • 20 · Interest

    total $1,381,403 · program services $1,381,403

  • 22 · Depreciation, depletion and amortization

    total $851,697 · program services $851,697

  • 23 · Insurance

    total $116,574 · program services $116,574

  • 24a · Other expenses: REPAIRS & MAINTAINANCE

    total $401,951 · program services $401,951

  • 24b · Other expenses: BAD DEBT

    total $159,173 · management and general $159,173

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $113,699 · program services $113,699

  • 24d · Other expenses: RELOCATION COST

    total $16,813 · program services $16,813

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $305,916 · end of year $508,645

  • 4 · Accounts receivable

    beginning of year $1,259,765 · end of year $1,454,993

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

    $22,248,975

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $9,908,209 · end of year $22,248,975

  • 15 · Other assets

    beginning of year $27,020,130 · end of year $26,190,342

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,051,690 · end of year $49,899,732

  • 21 · Escrow or custodial account liability

    beginning of year $2,535 · end of year $2,535

  • 25 · Other liabilities

    beginning of year $385,408 · end of year $908,711

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,054,387 · end of year -$408,023

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

TO SUPPORT SAMARITAN DAYTOP VILLAGE WHICH PROVIDES COMPREHENSIVE HEALTH AND HUMAN(CONT ON SCH O) SERVICES THROUGH A NETWORK OF FACILITIES LOCATED THROUGHOUT NYC AND UPSTATE NY.

  • THE PROJECT CONSISTS OF ONE HUNDRED TWENTY FIVE (125) RESIDENTIAL RENTAL APARTMENT UNITS SET ASIDE FOR LOW-INCOME HOUSEHOLDS. ONE HUNDRED PERCENT OF SUCH UNITS ARE AND WILL CONTINUE TO BE AVAILABLE EXCLUSIVELY TO INDIVIDUALS WITH INCOMES AT OR BELOW SIXTY PERCENT OF AREA MEDIAN INCOME ('AMI').

    Expenses $3,667,117 · Revenue $2,496,887

As filed on the 2023 return.

Listed in Part VII

  • John Iammatteo

    COO/CFO

    Total calculated
    $123,833
    From this org
    $0
    From related orgs
    $81,750
    Other
    $42,083
    Hours/week
    1 + 36 related

  • Alicia McFarlene

    CHIEF PROGRAM & LEGAL OFFI

    Total calculated
    $318,617
    From this org
    $0
    From related orgs
    $281,476
    Other
    $37,141
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,220 related
    Bonus
    $0
    Other
    $0 + $256 related
    Deferred
    $0 + $36,590 related
    Nontaxable benefits
    $0 + $551 related
    Filer's total
    $0 + $318,617 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 CEO IS ESTABLISHED BY THE RELATED ENTITY SAMARITAN DAYTOP FOUNDATION, 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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349325972

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