Form 990 for tax year 2025

Functional expenses

Part IX, the statement of functional expenses.

• 22 · Depreciation, depletion and amortization

  total $69,338 · program services $69,338

Balance sheet

Part X, book values.

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

  $825,073

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

  $458,012

• 10c · Land, buildings and equipment, net

  beginning of year $436,399 · end of year $367,061

• 23 · Secured mortgages and notes payable

  beginning of year $65,085 · end of year $62,362

• 25 · Other liabilities

  beginning of year $433,857 · end of year $436,580

• 27 · Net assets without donor restrictions

  beginning of year -$62,543 · end of year -$131,881

The filer's explanations (Part III)

PART I, LINE 3

THE PERSONNEL COMMITTEE OF WESTCHESTER RESIDENTIAL OPPORTUNITIES INC. SHALL (1) PREPARE AND, FROM TIME TO TIME WITH THE PARTICIPATION OF THE EXECUTIVE DIRECTOR, UPDATE THE JOB DESCRIPTION OF THE EXECUTIVE DIRECTOR; (2) MEET WITH THE EXECUTIVE DIRECTOR PRIOR TO THE YEAR THAT THE EXECUTIVE DIRECTOR'S JOB PERFORMANCE WILL BE EVALUATED AND ESTABLISH FINANCIAL, PROGRAMMATIC AND OPERATIONAL GOALS TO BE MET BY THE EXECUTIVE DIRECTOR DURING THE EVALUATION YEAR, AND (3) WITHIN 45 DAYS AFTER THE END OF THE EVALUATION YEAR, MAKE RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE REGARDING THE PERFORMANCE OF THE EXECUTIVE DIRECTOR DURING THE EVALUATION YEAR AND ANY PROPOSED CHANGE TO THE EXECUTIVE DIRECTOR'S COMPENSATION. THE PERSONNEL COMMITTEE SHALL BE COMPRISED OF ONLY THOSE MEMBERS OF THE BOARD OF DIRECTORS WHO HAVE NO CONFLICT OF INTEREST. THE PERSONNEL COMMITTEE'S CONCLUSIONS REGARDING THE EXECUTIVE DIRECTOR'S PERFORMANCE DURING THE EVALUATION YEAR SHALL BE BASED ON WHETHER AND TO WHAT EXTENT THE EXECUTIVE DIRECTOR (A) MET OR EXCEEDED THE OBLIGATIONS ESTABLISHED IN THE JOB DESCRIPTION AND (B) MET OR EXCEEDED THE GOALS. WHETHER THERE SHALL BE A CHANGE IN THE EXECUTIVE DIRECTOR'S COMPENSATION SHALL BE REVIEWED WITH THE FINANCE COMMITTEE BASED ON HIS/HER PERFORMANCE EVALUATION, AVAILABILITY OF FUNDS AND REASONABLY AVAILABLE INFORMATION REGARDING COMPENSATION PAID BY AT LEAST THREE COMPARABLE ORGANIZATIONS IN THE SAME OR SIMILAR COMMUNITIES FOR SIMILAR POSITIONS INVOLVING SIMILAR SERVICES. WHERE PRACTICABLE, SUCH INFORMATION SHOULD INCLUDE (1) DOCUMENTED TELEPHONE INQUIRIES ABOUT SIMILAR POSITIONS IN NON-PROFIT AND FOR-PROFIT ORGANIZATIONS, (2) WRITTEN JOB OFFERS AT SIMILAR ORGANIZATIONS, (3) INFORMATION FROM THE FORM 990 FILINGS OF OTHER NON-PROFIT ORGANIZATIONS, (4) STUDIES BY INDEPENDENT COMPENSATION EXPERTS, AND/OR (5) INFORMATION AVAILABLE FROM RELIABLE, INDEPENDENT ORGANIZATIONS THAT GATHER AND PROVIDE THIS TYPE OF INFORMATION. THE PERSONNEL COMMITTEE SHALL DOCUMENT, IN THE MINUTES OF ITS PROCEEDINGS, THE REASONS SUPPORTING ITS RECOMMENDATIONS. THE PROCESS FOR DETERMINING THE EXECUTIVE DIRECTOR'S SALARY WAS UNDERTAKEN IN NOVEMBER OF 2025.