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← POSITIVELY THIRD STREET HOUSING DEVELOPMENT FUND INC

Form 990 for tax year 2022

Filed by POSITIVELY THIRD STREET HOUSING DEVELOPMENT FUND INC.

Totals

Total revenue
$1,174,502
Total expenses
$1,142,090
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,170,736
Investment income
$3,091
Other revenue
$675
Total assets, end of year
$8,173,553
Total liabilities, end of year
$8,401,747
Net assets or fund balances, end of year
-$228,194
Program services expenses (Part IX)
$1,053,019
Management and general expenses
$89,071
Fundraising expenses
$0
Program service expenses (Part III)
$1,053,019

Program services were 92.2% 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 $1,170,736 · related or exempt $1,170,736

  • 3 · Investment income

    total $3,091 · excluded $3,091

  • 11a · Other revenue: TENANT CHARGES

    total $675 · related or exempt $675

  • 11e · Other revenue, total

    $675

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $45,056 · program services $45,056

  • 9 · Other employee benefits

    total $11,866 · program services $11,866

  • 10 · Payroll taxes

    total $3,363 · program services $3,363

  • 11a · Fees: management

    total $55,588 · management and general $55,588

  • 11b · Fees: legal

    total $33,483 · management and general $33,483

  • 11g · Fees: other

    total $198,504 · program services $198,504

  • 12 · Advertising and promotion

    total $81 · program services $81

  • 13 · Office expenses

    total $4,136 · program services $4,136

  • 14 · Information technology

    total $1,527 · program services $1,527

  • 16 · Occupancy

    total $346,073 · program services $346,073

  • 22 · Depreciation, depletion and amortization

    total $227,231 · program services $227,231

  • 23 · Insurance

    total $75,208 · program services $75,208

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $139,729 · program services $139,729

  • 24b · Other expenses: TAXES & LICENSES FEE

    total $205 · program services $205

  • 24e · All other expenses

    total $40 · program services $40

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,767 · end of year $294,385

  • 2 · Savings and temporary cash investments

    beginning of year $299,014 · end of year $337,007

  • 4 · Accounts receivable

    beginning of year $20,880 · end of year $115,649

  • 9 · Prepaid expenses and deferred charges

    beginning of year $88,956 · end of year $25,759

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

    $11,101,599

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

    $3,715,149

  • 10c · Land, buildings and equipment, net

    beginning of year $7,602,810 · end of year $7,386,450

  • 15 · Other assets

    beginning of year $11,658 · end of year $14,303

  • 17 · Accounts payable and accrued expenses

    beginning of year $114,935 · end of year $180,636

  • 19 · Deferred revenue

    beginning of year $1,965 · end of year $3,211

  • 21 · Escrow or custodial account liability

    beginning of year $11,461 · end of year $13,027

  • 23 · Secured mortgages and notes payable

    beginning of year $8,186,700 · end of year $8,186,700

  • 25 · Other liabilities

    beginning of year $7,630 · end of year $18,173

  • 27 · Net assets without donor restrictions

    beginning of year -$260,606 · end of year -$228,194

Mission and programs · 2022

Mission

AS PART OF THE JASA'S COMPREHENSIVE NETWORK OF SERVICES FOR OLDER ADULTS, THE POSITIVELY THIRD STREET HOUSING DEVELOPMENT FUND CO., INC PROVIDES AFFORDABLE HOUSING AND SOCIAL SERVICES TO LOW INCOME OLDER ADULTS LIVING INDEPENDENTLY.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING & SOCIAL SERVICES TO LOW INCOME OLDER ADULTS LIVING INDEPENDENTLY.

  • THE CORPORATION PROVIDES AFFORDABLE HOUSING AND AUXILIARY FACILITIES FOR OLDER ADULTS OF LOW INCOME. THE PROJECT CONSISTS OF 53 UNITS LOCATED IN NEW YORK, NY.

    Expenses $1,053,019 · Revenue $1,171,411

As filed on the 2022 return.

Listed in Part VII

  • David Hildes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Mark Imowitz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Martin Siroka

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 15 related

  • Alan Cohen

    BOARD MEMBER

    Total calculated
    $239,640
    From this org
    $0
    From related orgs
    $212,110
    Other
    $27,530
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,115 related
    Bonus
    $0
    Other
    $0 + $995 related
    Deferred
    $0 + $6,456 related
    Nontaxable benefits
    $0 + $21,074 related
    Filer's total
    $0 + $239,640 related

  • Donald Manning

    VP/ASST. TREASURER, ASST.

    Total calculated
    $293,758
    From this org
    $0
    From related orgs
    $279,797
    Other
    $13,961
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,750 related
    Bonus
    $0
    Other
    $0 + $2,047 related
    Deferred
    $0 + $13,961 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $293,758 related

  • Kathryn Haslanger

    CEO

    Total calculated
    $474,411
    From this org
    $0
    From related orgs
    $409,833
    Other
    $64,578
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $402,663 related
    Bonus
    $0
    Other
    $0 + $7,170 related
    Deferred
    $0 + $7,659 related
    Nontaxable benefits
    $0 + $56,919 related
    Filer's total
    $0 + $474,411 related

  • Matthew Locurto

    CFO

    Total calculated
    $186,069
    From this org
    $0
    From related orgs
    $162,270
    Other
    $23,799
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,877 related
    Bonus
    $0
    Other
    $0 + $393 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $23,799 related
    Filer's total
    $0 + $186,069 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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349303647

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