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Nonprofiteer
← MOSHOLU PRESERVATION CORPORATION

Form 990 for tax year 2023

Filed by MOSHOLU PRESERVATION CORPORATION.

Totals

Total revenue
$3,053,535
Total expenses
$3,331,444
Contributions and grants received
$542,491
Grants paid
$0
Program service revenue
$2,255,581
Investment income
$181,296
Other revenue
$74,167
Total assets, end of year
$11,700,342
Total liabilities, end of year
$1,969,261
Net assets or fund balances, end of year
$9,731,081
Program services expenses (Part IX)
$2,907,037
Management and general expenses
$424,407
Fundraising expenses
$0
Program service expenses (Part III)
$2,907,037

Program services were 87.3% 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.

  • 1e · Government grants (contributions)

    $426,824

  • 1f · All other contributions, gifts and grants

    $115,667

  • 2a · Program service revenue: RENTAL OF REHABILITATED BUILDINGS

    total $2,219,503 · related or exempt $2,219,503 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: NEWSPAPER REVENUE

    total $36,078 · related or exempt $0 · unrelated business $36,078 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $181,296 · related or exempt $0 · unrelated business $0 · excluded $181,296

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: INTERCOMPANY SHARED SERVICES

    total $71,707 · related or exempt $0 · unrelated business $0 · excluded $71,707

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $2,460 · related or exempt $0 · unrelated business $0 · excluded $2,460

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $74,167

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $164,214 · program services $0 · management and general $164,214 · fundraising $0

  • 7 · Other salaries and wages

    total $282,390 · program services $240,024 · management and general $42,366 · fundraising $0

  • 9 · Other employee benefits

    total $147,793 · program services $83,089 · management and general $64,704

  • 11a · Fees: management

    total $134,488 · program services $134,488 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $18,161 · program services $18,161 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $219,063 · program services $219,063 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $5,580 · program services $0 · management and general $5,580 · fundraising $0

  • 13 · Office expenses

    total $521,095 · program services $479,986 · management and general $41,109 · fundraising $0

  • 14 · Information technology

    total $1,556 · program services $0 · management and general $1,556 · fundraising $0

  • 16 · Occupancy

    total $926,778 · program services $856,997 · management and general $69,781 · fundraising $0

  • 17 · Travel

    total $5,647 · program services $5,647 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $5,581 · program services $5,581 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $550,017 · program services $522,273 · management and general $27,744 · fundraising $0

  • 23 · Insurance

    total $9,583 · program services $8,012 · management and general $1,571 · fundraising $0

  • 24a · Other expenses: COMMUNITY DEVELOPMENT COSTS

    total $268,800 · program services $268,800 · management and general $0 · fundraising $0

  • 24b · Other expenses: MISC RENTAL EXPENSES

    total $62,859 · program services $62,859 · management and general $0 · fundraising $0

  • 24c · Other expenses: MISC ADMINISTRATION EXPENSES

    total $5,782 · program services $0 · management and general $5,782 · fundraising $0

  • 24d · Other expenses: NEWSPAPER PRODUCTION COSTS

    total $1,110 · program services $1,110 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $947 · program services $947 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $536,532 · end of year $1,204,045

  • 3 · Pledges and grants receivable

    beginning of year $97,500 · end of year $271,029

  • 4 · Accounts receivable

    beginning of year $262,078 · end of year $22,444

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $325,750 · end of year $323,648

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

    $8,793,593

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

    $4,415,660

  • 10c · Land, buildings and equipment, net

    beginning of year $4,412,020 · end of year $4,377,933

  • 11 · Investments: publicly traded securities

    beginning of year $4,996,591 · end of year $5,300,253

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $200,990 · end of year $200,990

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,695 · end of year $68,293

  • 19 · Deferred revenue

    beginning of year $208,928 · end of year $1,391,240

  • 21 · Escrow or custodial account liability

    beginning of year $200,990 · end of year $200,990

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $499,223 · end of year $308,738

  • 27 · Net assets without donor restrictions

    beginning of year $9,886,625 · end of year $9,731,081

Mission and programs · 2023

Mission

MOSHOLU PRESERVATION CORPORATION WAS FORMED TO COMBAT COMMUNITY DETERIORATION AND PROVIDE AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT OPPORTUNITIES IN THE COMMUNITIES SERVED BY THE MONTEFIORE ACADEMIC HEALTH SYSTEM IN SUPPORT OF MONTEFIORE'S CHARITABLE HEALTHCARE MISSION TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES SERVED.

Activities or mission (Part I)

TO COMBAT COMMUNITY DETERIORATION AND PROVIDE AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT OPPORTUNITIES IN THE COMMUNITIES SERVED BY THE MONTEFIORE ACADEMIC HEALTH SYSTEM.

  • RENTAL OPERATIONS: THE ORGANIZATION RENTAL ACTIVITIES ARE UNDERTAKEN TO PROMOTE ECONOMIC DEVELOPMENT, COMBAT COMMUNITY DETERIORATION AND IMPROVE THE OVERALL QUALITY OF LIFE IN THE NEIGHBORHOODS SERVED BY THE MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM. THESE INITIATIVES INCLUDE ACQUIRING, CONSTRUCTING, OPERATING AND RENTING, REHABILITATING AND IMPROVING HOUSING, RELATED FACILITIES AND OTHER STRUCTURES AND PROPERTIES.

    Expenses $2,080,328 · Revenue $2,219,503

  • COMMUNITY SERVICES: THE ORGANIZATION PURPOSES ARE EXCLUSIVELY CHARITABLE AND FOR THE SUPPORT OF MONTEFIORE HEALTH SYSTEM THROUGH IMPROVING SOME OF THE SOCIAL DETERMINANTS OF HEALTH IN CREATING HEALTHIER COMMUNITIES. MOSHOLU PRESERVATION CORPORATION HAS BEEN A STAPLE IN THE COMMUNITY FOR ALMOST 40 YEARS AND HAS HELPED TO COMBAT COMMUNITY DETERIORATION BY PRESERVING NEIGHBORHOODS AND BUILDING COMMUNITIES. OUR EFFORTS INCLUDE COORDINATING BUSINESS IMPROVEMENT DISTRICTS, NEIGHBORHOOD BEAUTIFICATION PROJECTS, AND COMMUNITY SERVICES PROGRAMS THROUGHOUT THE COMMUNITIES SERVED BY THE MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM.

    Expenses $605,007

  • NEWSPAPER OPERATIONS: THE ORGANIZATION OPERATES THE NORWOOD NEWS (A FREE NEWSPAPER) TO FOSTER COMMUNICATION AMONG CITIZENS AND ORGANIZATIONS AND AS A CATALYST FOR NEIGHBORHOOD DEVELOPMENT EFFORTS. THE NORWOOD NEWS IS A COMMUNITY NEWSPAPER SERVING THE BRONX.

    Expenses $221,702 · Revenue $36,078

As filed on the 2023 return.

Listed in Part VII

  • Christopher Vinci

    DIRECTOR/TREASURER

    Total calculated
    $284,863
    From this org
    $0
    From related orgs
    $263,862
    Other
    $21,001
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,675 related
    Bonus
    $0 + $31,000 related
    Other
    $0 + $187 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $4,001 related
    Filer's total
    $0 + $284,863 related

  • Lewis Henkind

    DIRECTOR/CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1.3 related

  • Sheila E McGrath

    DIRECTOR/SECRETARY

    Total calculated
    $371,412
    From this org
    $0
    From related orgs
    $325,352
    Other
    $46,060
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,992 related
    Bonus
    $0 + $55,000 related
    Other
    $0 + $360 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $29,060 related
    Filer's total
    $0 + $371,412 related

  • Christopher Nesterczuk

    DIRECTOR

    Total calculated
    $313,097
    From this org
    $0
    From related orgs
    $275,149
    Other
    $37,948
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,979 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $170 related
    Deferred
    $0 + $4,577 related
    Nontaxable benefits
    $0 + $33,371 related
    Filer's total
    $0 + $313,097 related

  • Daniela Beasley

    DIRECTOR - EX-OFFICIO

    Total calculated
    $132,630
    From this org
    $115,788
    From related orgs
    $0
    Other
    $16,842
    Hours/week
    40

  • Doris Quinones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Edward Pfleging

    DIRECTOR

    Total calculated
    $1,412,479
    From this org
    $0
    From related orgs
    $1,139,641
    Other
    $272,838
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $942,077 related
    Bonus
    $0 + $175,000 related
    Other
    $0 + $22,564 related
    Deferred
    $0 + $242,886 related
    Nontaxable benefits
    $0 + $29,952 related
    Filer's total
    $0 + $1,412,479 related

  • Renee Brodie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
AS IT RELATES TO COMPENSATION FROM MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC. FOR THE NON-INDEPENDENT DIRECTOR PARTICIPATING IN THE SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: IN A MANNER DESIGNED TO QUALIFY FOR THE "REBUTTABLE PRESUMPTION OF REASONABLENESS" THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EXPRESSLY REVIEWED AND APPROVED ALL COMPENSATION AND BENEFITS ARRANGEMENTS, INCLUDING THESE RETIREMENT BENEFIT ARRANGEMENTS FOR SENIOR EXECUTIVES, IN A MANNER THAT QUALIFIED UNDER THE INTERMEDIATE SANCTIONS RULES OF THE FEDERAL TAX LAW, AND IN RECOGNITION OF (A) THE EXECUTIVES' YEARS OF SERVICE TO THE ORGANIZATION AND (B) THE SIGNIFICANT CONTRIBUTIONS TO ENHANCING THE ABILITY OF THE ORGANIZATION TO ACHIEVE ITS CHARITABLE MISSION IN A MANNER CONSISTENT WITH FINANCIAL SOLVENCY. ACCORDINGLY, THIS BENEFIT SHOULD BE VIEWED AS APPLYING TO YEARS OF SERVICE FOR THE ORGANIZATION. THE HEALTH SYSTEM FUNDS A DEFINED CONTRIBUTION SERP PLAN IN WHICH ONE DIRECTOR OF THE ORGANIZATION PARTICIPATES. CONTRIBUTIONS ARE AT A FIXED PERCENTAGE OF BASE SALARY OR TOTAL CASH COMPENSATION (BASE SALARY PLUS ANNUAL INCENTIVE AWARD). A NOTIONAL BALANCE IS DEVELOPED FOR EACH PARTICIPANT THAT IS THE TOTAL OF CONTRIBUTIONS LESS DISTRIBUTIONS (INTEREST IS NOT ACCRUED). ON JANUARY 1 FOLLOWING THE THIRD, SIXTH AND NINTH ANNIVERSARIES OF EACH PARTICIPANT'S PARTICIPATION DATE, 50% OF THE REMAINING SERP ACCOUNT BECOMES VESTED AND IS PAID OUT IF THE PARTICIPANT IS EMPLOYED ON THAT DATE. ON JANUARY 1 FOLLOWING THE TWELFTH ANNIVERSARY OF EACH PARTICIPANT'S PARTICIPATION DATE, THE REMAINDER OF THE SERP ACCOUNT BECOMES FULLY VESTED AND IS PAID OUT. IF A PARTICIPANT REACHES AGE 65 BEFORE THEIR TWELFTH ANNIVERSARY OF THEIR PARTICIPATION DATE, THEIR SERP ACCOUNT BALANCE WILL BECOME FULLY VESTED ON THE LATER OF THE FIRST OF THE MONTH FOLLOWING THEIR 65TH BIRTHDAY OR THE THIRD ANNIVERSARY OF THEIR PARTICIPATION DATE. SERP ACCOUNT BALANCES WILL ALSO BECOME FULLY VESTED UPON THE EARLIEST OF DEATH OR DISABILITY WHILE EMPLOYED BY MONTEFIORE, INVOLUNTARY TERMINATION WITHOUT CAUSE OR IF MONTEFIORE CHOOSES TO TERMINATE THE PLAN. DURING 2023, THERE WAS NO DISTRIBUTION FROM THE PLAN. A DEFERRED COMPENSATION ACCRUAL WAS REPORTED IN COLUMN (C) OF PART II FOR THE UNVESTED CONTRIBUTION ACCRUALS MADE DURING THE TAX YEAR FOR THE PARTICIPATING DIRECTOR: EDWARD PFLEGING $225,886.
Schedule J, Part I, Line 7 Non-fixed payments
THE ORGANIZATION PAID A DIRECTOR A DISCRETIONARY BONUS THAT WAS BASED ON MANAGEMENT DISCRETION.

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.

  • UNIVERSITY BEHAVIORAL ASSOCIATES INC

    C Corporation · MGMT SERVICES · NY · controlled entity

    Directly controlled by NA

  • THE MONTEFIORE IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS EAST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS WEST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE BEHAVIORAL CARE IPA NO 1 INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • BRONX ACCOUNTABLE CARE NETWORK IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE CONSOLIDATED VENTURES INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INSURANCE COMPANY INC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • HUDSON VALLEY IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INNOVATIONS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • HIGHLAND MEDICAL PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL DIAGNOSTIC SVCS PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • CANCER AND BLOOD MEDICAL SERV OF NY PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MANAGEMENT CO INc

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WPHC BUILDING CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST (4)

    Trust · CHAR REMR TRUST · NY · controlled entity

    Directly controlled by NA

  • CRHT ACQUISITION INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • QUANTUM BIOTHERAPEUTICS LLC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN MEDICAL SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD PHYSICIAN SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE MEDICAL SERVICES PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WPH HOLDINGS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • INNOVATOR ACQUSITION CORP

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • PY DEVELOPMENT CORP

    C Corporation · REIT · NY · controlled entity

    Directly controlled by NA

  • SPECIALTY SURGEONS OF CONNECTICUT PC

    C Corporation · HEALTHCARE SERV. · CT · controlled entity

    Directly controlled by NA

  • CMO THE CARE MANAGEMENT COMPANY LLC

    C Corporation · CARE MANAGMENT · NY · controlled entity

    Directly controlled by NA

  • Hudson River Medical Practice PLLC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349305299

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