Form 990 for tax year 2022
Filed by UNITED NATIONS DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $46,322,303
- Total expenses
- $31,920,545
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $45,789,057
- Investment income
- $533,246
- Other revenue
- $0
- Total assets, end of year
- $196,546,817
- Total liabilities, end of year
- $42,330,484
- Net assets or fund balances, end of year
- $154,216,333
- Program services expenses (Part IX)
- $28,528,971
- Management and general expenses
- $3,391,574
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $28,528,971
Program services were 89.4% 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: BUILDING RENTAL-OFFICE SPACE
total $42,854,840 · related or exempt $42,854,840
-
2b · Program service revenue: INTEREST-LEASES
total $1,498,069 · related or exempt $1,498,069
-
2c · Program service revenue: OTHER INCOME- INCOME TOWER
total $1,335,134 · related or exempt $1,335,134
-
2d · Program service revenue: LANDLORD FEES
total $101,014 · related or exempt $101,014
-
3 · Investment income
total $533,246 · excluded $533,246
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,063,777 · management and general $1,063,777
-
7 · Other salaries and wages
total $312,290 · management and general $312,290
-
8 · Pension plan contributions
total $99,496 · management and general $99,496
-
9 · Other employee benefits
total $411,585 · management and general $411,585
-
10 · Payroll taxes
total $86,335 · management and general $86,335
-
11a · Fees: management
total $158,115 · program services $158,115
-
11b · Fees: legal
total $928,127 · management and general $928,127
-
11c · Fees: accounting
total $53,000 · management and general $53,000
-
11f · Fees: investment management
total $45,793 · management and general $45,793
-
11g · Fees: other
total $3,081,980 · program services $3,081,980
-
13 · Office expenses
total $144,987 · program services $140,218 · management and general $4,769
-
16 · Occupancy
total $10,767,866 · program services $10,767,866
-
20 · Interest
total $449,974 · program services $449,974
-
22 · Depreciation, depletion and amortization
total $6,821,985 · program services $6,821,985
-
23 · Insurance
total $1,196,687 · program services $921,729 · management and general $274,958
-
24a · Other expenses: CONTRACT SECURITY
total $3,141,683 · program services $3,038,322 · management and general $103,361
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $2,911,164 · program services $2,911,164
-
24c · Other expenses: MISCELLANEOUS
total $245,701 · program services $237,618 · management and general $8,083
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $700 · end of year $700
-
2 · Savings and temporary cash investments
beginning of year $58,265,555 · end of year $58,216,540
-
4 · Accounts receivable
beginning of year $1,825,327 · end of year $3,347,448
-
9 · Prepaid expenses and deferred charges
beginning of year $5,431,882 · end of year $6,029,696
-
10a · Land, buildings and equipment: cost or other basis
$187,575,156
-
10b · Land, buildings and equipment: accumulated depreciation
$147,628,897
-
10c · Land, buildings and equipment, net
beginning of year $43,584,935 · end of year $39,946,259
-
11 · Investments: publicly traded securities
beginning of year $44,203,398 · end of year $63,058,956
-
15 · Other assets
beginning of year $28,776,606 · end of year $25,947,218
-
17 · Accounts payable and accrued expenses
beginning of year $4,375,934 · end of year $4,332,984
-
19 · Deferred revenue
beginning of year $1,090,592 · end of year $1,043,132
-
20 · Tax-exempt bond liabilities
beginning of year $36,429,247 · end of year $30,607,926
-
25 · Other liabilities
beginning of year $40,038 · end of year $6,346,442
-
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 $126,380,842 · end of year $140,307,208
-
31 · Retained earnings, endowment or other funds
beginning of year $13,771,750 · end of year $13,909,125
Mission and programs · 2022
Mission
THE MISSION OF THE UNITED NATIONS DEVELOPMENT CORPORATION IS (A) TO PROVIDE OFFICE AND OTHER FACILITIES THAT HELP MEET THE CURRENT AND FUTURE NEEDS OF THE UNITED NATIONS (U.N.), MISSIONS TO THE U.N. AND U.N.-RELATED PROGRAMS (TOGETHER, THE "U.N. COMMUNITY"), SEE ATTACHED AND (B) OTHERWISE TO ASSIST THE U.N. COMMUNITY IN MEETING ITS CURRENT AND FUTURE REAL ESTATE NEEDS. TO ACCOMPLISH ITS MISSION AND HELP THE CITY AND STATE OF NEW YORK FULFILL THEIR RESPONSIBILITIES AS HOSTS TO THE U.N. COMMUNITY, THE CORPORATION DEVELOPS AND OPERATES OFFICE AND OTHER FACILITIES FOR THE BENEFIT OF THE U.N. COMMUNITY AND PROVIDES REAL ESTATE ADVICE, SERVICES AND STUDIES AT THE REQUEST OF THE U.N., CITY OR STATE OF NEW YORK, OR THE UNITED STATES.
Activities or mission (Part I)
THE CORPORATION WAS CREATED FOR THE PURPOSE OF PLANNING AND DEVELOPING FACILITIES FOR UNITED NATIONS-RELATED ACTIVITIES WITHIN A DEFINED "UNITED NATIONS DEVELOPMENT DISTRICT" ADJACENT TO THE UNITED NATIONS HEADQUARTERS IN NEW YORK CITY.
-
BUILDING OPERATIONS - PROVIDE NEEDED FACILITIES FOR THE U.N. COMMUNITY IN NEW YORK CITY.
Expenses $28,528,971 · Revenue $45,789,057
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Adolfo Carrion JrADOLFO CARRION JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Amabel B JamesAMABEL B JAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andy K ShenoyANDY K SHENOY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christine FalvoCHRISTINE FALVO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Daniel GarodnickDANIEL GARODNICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David MackDAVID MACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Edward MermelsteinEDWARD MERMELSTEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George KleinGEORGE KLEIN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 15
-
Jan BurmanJAN BURMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jessica HealyJESSICA HEALY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joel M SilvermanJOEL M SILVERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joseph RutiglianoJOSEPH RUTIGLIANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Louise CarrollLOUISE CARROLL
DIRECTOR (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Marissa LagoMARISSA LAGO
DIRECTOR (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Penny AbeywardenaPENNY ABEYWARDENA
DIRECTOR (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Robert AbramsROBERT ABRAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Samuel NatapoffSAMUEL NATAPOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jorge OrtizJORGE ORTIZ
VP/CONTROLLER
- Total calculated
- $261,052
- From this org
- $180,771
- From related orgs
- $0
- Other
- $80,281
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $173,816
- Bonus
- $0
- Other
- $6,955
- Deferred
- $45,875
- Nontaxable benefits
- $34,406
- Filer's total
- $261,052
-
Kenneth CoopersmithKENNETH COOPERSMITH
VICE PRESIDENT
- Total calculated
- $248,398
- From this org
- $190,706
- From related orgs
- $0
- Other
- $57,692
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,758
- Bonus
- $0
- Other
- $14,948
- Deferred
- $38,180
- Nontaxable benefits
- $19,512
- Filer's total
- $248,398
-
Maria Loida Diaz De JesusMARIA LOIDA DIAZ DE JESUS
VICE PRESIDENT
- Total calculated
- $195,293
- From this org
- $133,506
- From related orgs
- $0
- Other
- $61,787
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $130,791
- Bonus
- $0
- Other
- $2,715
- Deferred
- $27,764
- Nontaxable benefits
- $34,023
- Filer's total
- $195,293
-
Robert B ColeROBERT B COLE
EXECUTIVE VICE PRESIDENT
- Total calculated
- $359,034
- From this org
- $257,156
- From related orgs
- $0
- Other
- $101,878
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $248,350
- Bonus
- $0
- Other
- $8,806
- Deferred
- $53,362
- Nontaxable benefits
- $48,516
- Filer's total
- $359,034
-
Hui-Chen LiuHUI-CHEN LIU
DEPUTY CONTROLLER
- Total calculated
- $167,426
- From this org
- $114,419
- From related orgs
- $0
- Other
- $53,007
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $95,613
- Bonus
- $0
- Other
- $18,806
- Deferred
- $23,950
- Nontaxable benefits
- $29,057
- Filer's total
- $167,426
-
Justin HandmanJUSTIN HANDMAN
ASST VP & DIRECTOR OF COMPLIANCE
- Total calculated
- $168,968
- From this org
- $100,305
- From related orgs
- $0
- Other
- $68,663
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $99,822
- Bonus
- $0
- Other
- $483
- Deferred
- $22,170
- Nontaxable benefits
- $46,493
- Filer's total
- $168,968
-
Teresa TangTERESA TANG
SENIOR AUDITOR
- Total calculated
- $155,834
- From this org
- $114,315
- From related orgs
- $0
- Other
- $41,519
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $98,331
- Bonus
- $0
- Other
- $15,984
- Deferred
- $23,100
- Nontaxable benefits
- $18,419
- Filer's total
- $155,834
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 committee
- 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
The filer's explanations (Part III)
- PART II, COLUMN (III):
- AMOUNTS IN THIS COLUMN INCLUDES CONTRIBUTIONS TO THE 457(B) RETIREMENT PLAN AND GROUP TERM LIFE INSURANCE.
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
- 2022
- Filed
- 19 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332649349301133
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