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Nonprofiteer
← HEBREW HOME HOUSING DEVELOPMENT FUND CO INC

Form 990 for tax year 2023

Filed by HEBREW HOME HOUSING DEVELOPMENT FUND CO INC.

Totals

Total revenue
$5,978,800
Total expenses
$7,802,090
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,975,564
Investment income
$0
Other revenue
$3,236
Total assets, end of year
$9,428,698
Total liabilities, end of year
$15,294,811
Net assets or fund balances, end of year
-$5,866,113
Program services expenses (Part IX)
$6,542,507
Management and general expenses
$1,259,583
Fundraising expenses
$0
Program service expenses (Part III)
$6,542,507

Program services were 83.9% 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: SENIOR HOUSING

    total $5,975,564 · related or exempt $5,975,564

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: MISCELLANEOUS

    total $3,236 · excluded $3,236

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $3,236

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $767,586 · program services $517,540 · management and general $250,046

  • 8 · Pension plan contributions

    total $203,432 · program services $137,163 · management and general $66,269

  • 9 · Other employee benefits

    total $105,981 · program services $71,457 · management and general $34,524

  • 10 · Payroll taxes

    total $58,721 · program services $39,592 · management and general $19,129

  • 11a · Fees: management

    total $514,951 · management and general $514,951

  • 11c · Fees: accounting

    total $25,442 · management and general $25,442

  • 11g · Fees: other

    total $2,670,989 · program services $2,390,204 · management and general $280,785 · fundraising $0

  • 12 · Advertising and promotion

    total $10,759 · program services $10,759

  • 13 · Office expenses

    total $46,519 · management and general $46,519

  • 14 · Information technology

    total $20,452 · management and general $20,452

  • 16 · Occupancy

    total $2,056,948 · program services $2,056,948

  • 17 · Travel

    total $1,466 · management and general $1,466

  • 20 · Interest

    total $491,874 · program services $491,874

  • 22 · Depreciation, depletion and amortization

    total $708,664 · program services $708,664

  • 23 · Insurance

    total $70,254 · program services $70,254

  • 24a · Other expenses: Bad Debt

    total $48,052 · program services $48,052

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $559,811 · end of year $205,947

  • 2 · Savings and temporary cash investments

    beginning of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $171,883 · end of year $129,775

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $17,332

  • 9 · Prepaid expenses and deferred charges

    beginning of year $177,964 · end of year $156,633

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

    $34,899,747

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

    $27,920,986

  • 10c · Land, buildings and equipment, net

    beginning of year $7,435,578 · end of year $6,978,761

  • 11 · Investments: publicly traded securities

    beginning of year $1,958,208 · end of year $1,332,305

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $581,800 · end of year $607,945

  • 17 · Accounts payable and accrued expenses

    beginning of year $655,551 · end of year $916,844

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $585,615 · end of year $575,855

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $13,132,592 · end of year $12,340,535

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $683,406 · end of year $1,461,577

  • 27 · Net assets without donor restrictions

    beginning of year -$4,171,920 · end of year -$5,866,113

  • 28 · Net assets with donor restrictions

    beginning of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO PROVIDE INDEPENDENT SENIOR HOUSING IN A SAFE, CONGENIAL ENVIRONMENT.

  • HOUSING AND OTHER SERVICES PROVIDED TO AN AVERAGE OF 102 RESIDENTS. THE MONTHLY FEE INCLUDES MEALS, ACTIVITIES, TRANSPORTATION, A FITNESS CENTER, ALL UTILITIES, BASIC CABLE, AS WELL AS HOUSEKEEPING AND LINEN SERVICE.

    Expenses $6,542,507 · Revenue $5,975,564

As filed on the 2023 return.

Listed in Part VII

  • JEFFREY S MAURER

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • JOSEPH WYGODA

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • DAVID SABLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JAMES A SHIFREN

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • MARTIN HOFFMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Carl Willner

    Interim CFO

    Total calculated
    $381,356
    From this org
    $0
    From related orgs
    $319,229
    Other
    $62,127
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $316,147 related
    Bonus
    $0
    Other
    $0 + $3,082 related
    Deferred
    $0 + $23,512 related
    Nontaxable benefits
    $0 + $38,615 related
    Filer's total
    $0 + $381,356 related

  • DANIEL REINGOLD

    PRESIDENT, CEO

    Total calculated
    $2,065,154
    From this org
    $0
    From related orgs
    $1,999,772
    Other
    $65,382
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,734,420 related
    Bonus
    $0 + $253,250 related
    Other
    $0 + $12,102 related
    Deferred
    $0 + $27,504 related
    Nontaxable benefits
    $0 + $37,878 related
    Filer's total
    $0 + $2,065,154 related

  • DAVID POMERANZ

    CHIEF OPERATING OFFICER

    Total calculated
    $943,821
    From this org
    $0
    From related orgs
    $911,618
    Other
    $32,203
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $752,064 related
    Bonus
    $0 + $150,078 related
    Other
    $0 + $9,476 related
    Deferred
    $0 + $27,726 related
    Nontaxable benefits
    $0 + $4,477 related
    Filer's total
    $0 + $943,821 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE CEO AND OFFICERS AND SELECT KEY EMPLOYEES' COMPENSATION IS PAID THROUGH A RELATED MANAGEMENT SERVICE ORGANIZATION, RIVERSPRING SERVICES CORP. COMPENSATION IS ALLOCATED TO EACH RELATED ENTITY BASED ON AN APPROVED METHODOLOGY. DETERMINATION OF THE COMPENSATION IS BASED ON INDEPENDENT COMPARATIVE ANALYSIS OF COMPENSATION LEVELS FOR OTHER CEO'S AND OFFICERS IN ORGANIZATIONS OF SIMILAR SIZE IN THE LONG-TERM CARE INDUSTRY PRIMARILY IN THE NY METROPOLITAN AREA. THIS IS DONE BY AN INDEPENDENT COMPENSATION CONSULTANT AND THE INFORMATION IS THEN REVIEWED BY A COMPENSATION COMMITTEE AND APPROVED BY THE FULL BOARD OF THE RELATED ENTITIES PAYING THE COMPENSATION.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349315852

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