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← RIDGEWOOD BUSHWICK HOMESTEADING ASSISTANCE HOUSING DEVELOPMENT FUN

Form 990 for tax year 2022

Filed by RIDGEWOOD BUSHWICK HOMESTEADING ASSISTANCE HOUSING DEVELOPMENT FUN.

Totals

Total revenue
$683,250
Total expenses
$635,140
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$557,058
Investment income
$659
Other revenue
$125,533
Total assets, end of year
$17,228,612
Total liabilities, end of year
$194,837
Net assets or fund balances, end of year
$17,033,775
Program services expenses (Part IX)
$529,981
Management and general expenses
$105,159
Fundraising expenses
$0
Program service expenses (Part III)
$529,981

Program services were 83.4% 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 $557,058 · related or exempt $557,058

  • 3 · Investment income

    total $659 · excluded $659

  • 6a · Gross rents

    real property $114,230

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $114,230

  • 6d · Net rental income or loss

    total $114,230 · excluded $114,230

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $9,128 · excluded $9,128

  • 11b · Other revenue: LATE FEE

    total $2,175 · excluded $2,175

  • 11e · Other revenue, total

    $11,303

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $60,888 · management and general $60,888

  • 11b · Fees: legal

    total $18,940 · management and general $18,940

  • 11c · Fees: accounting

    total $10,885 · management and general $10,885

  • 11g · Fees: other

    total $28,689 · program services $28,689

  • 13 · Office expenses

    total $14,446 · management and general $14,446

  • 16 · Occupancy

    total $275,324 · program services $275,324

  • 22 · Depreciation, depletion and amortization

    total $1,530 · program services $1,530

  • 23 · Insurance

    total $52,705 · program services $52,705

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $108,435 · program services $108,435

  • 24b · Other expenses: ALLOCATED PAYROLL AND B

    total $49,072 · program services $49,072

  • 24c · Other expenses: BUILDING VIOLATIONS

    total $10,546 · program services $10,546

  • 24d · Other expenses: OTHER EXPENSES

    total $3,680 · program services $3,680

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $519,508 · end of year $12,862

  • 2 · Savings and temporary cash investments

    beginning of year $204,740 · end of year $165,372

  • 4 · Accounts receivable

    beginning of year $1,336,129 · end of year $577,230

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,316 · end of year $30,765

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

    $17,017,302

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

    $1,788,727

  • 10c · Land, buildings and equipment, net

    beginning of year $106,406 · end of year $15,228,575

  • 14 · Intangible assets

    end of year $374,208

  • 15 · Other assets

    beginning of year $19,708,860 · end of year $839,600

  • 17 · Accounts payable and accrued expenses

    beginning of year $280,437 · end of year $133,201

  • 19 · Deferred revenue

    beginning of year $49,897 · end of year $25,572

  • 21 · Escrow or custodial account liability

    beginning of year $70,052 · end of year $36,064

  • 25 · Other liabilities

    beginning of year $1,240,041 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $20,287,532 · end of year $17,033,775

Mission and programs · 2022

Mission

THE ORGANIZATION'S PURPOSE IS TO TAKE TITLE AND SERVE AS INTERIM OWNER AND MANAGER OF LOW-INCOME HOUSING PROJECTS PRIOR TO CONVERSION TO CO-OP GROUPS.

Activities or mission (Part I)

TO FACILITATE FINANCING, PHYSICAL REHABILITATION, AND CO-OP CONVERSION OF CERTAIN MULTI-FAMILY DWELLINGS.

  • RIDGEWOOD BUSHWICK HDFC IS A JOINT VENTURE BETWEEN UHAB AND RISEBORO COMMUNITY PARTNERSHIP. IT SERVES AS INTERIM OWNER OF 17 FOUR- TO SIX-UNIT BUILDINGS, COMPRISED OF 89 UNITS OF LOW-INCOME HOUSING, IN THE BUSHWICK SECTION OF BROOKLYN. ON BEHALF OF THE HDFC, UHAB FACILITATES FINANCING AND PROVIDES RENOVATION MANAGEMENT AND OVERSIGHT, AS WELL AS RESIDENT TRAINING AND TECHNICAL ASSISTANCE. UHAB WILL ALSO UNDERTAKE THE CREATION OF A COMMUNITY LAND TRUST AND THE COOPERATIVE CONVERSION LEGAL WORK FOR THIS SCATTER-SITE AFFORDABLE HOUSING DEVELOPMENT, WHICH IS BECOMING A COMMUNITY COOPERATIVE ON A LAND TRUST. RISEBORO COMMUNITY PARTNERSHIP HAS BEEN RESPONSIBLE FOR THE MANAGEMENT OF THE BUILDINGS AND RESIDENT RELOCATION DURING CONSTRUCTION, WHICH IS COMPLETED ON ALL BUILDINGS. WE ARE AWAITING APPROVAL OF THE COMMUNITY LAND TRUST/COOPERATIVE OFFERING FROM THE NEW YORK STATE ATTORNEY GENERAL

    Expenses $529,981 · Revenue $557,058

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrew Reicher

    CO-CHAIR THRU MARCH 2023

    Total calculated
    $161,039
    From this org
    $0
    From related orgs
    $155,552
    Other
    $5,487
    Hours/week
    1 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $154,328 related
    Bonus
    $0
    Other
    $0 + $1,224 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $5,487 related
    Filer's total
    $0 + $161,039 related

  • Scott Short

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Richard Heitler

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Margy Brown

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 36 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

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 corporations and trusts

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

  • 186 EAST 104TH STREET HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • 473 WEST 145TH STREET HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • 508 WESTSIDE 135TH STREET HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • ELVA-UHAB HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • GP-UHAB HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • MANHATTAN 203B-UHAB HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • ROUND V-2 WEST 135TH STREET HDFC (512 W 135 HDFC)

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • ROUND IV EAST 101ST STREET HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • 1520 SEDGWICK HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • ROUND IV SECOND AVENUE HOUSING DEVELOPMENT FUND CORPORATION

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • 110 MADISON HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • 1380 HOUSING DEVELOPMENT FUND CORPORATION

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • EAST 147TH STREET HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • BROADWAY-UHAB HDFC

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • UHAB TOO HOUSING DEVELOPMENT FUND CORPORATION

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • UHAB SPE 1 HOUSING DEVELOPMENT FUND CORPORATION

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

  • UHAB BROOKLYN CORP

    C · HOUSING DEVELOPMENT · NY

    Directly controlled by URBAN HOMESTEADING ASSISTANCE (U-HAB) INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349315010

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