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← CONROY HOUSING DEVELOPMENT FUND INC

Form 990 for tax year 2023

Filed by CONROY HOUSING DEVELOPMENT FUND INC.

Totals

Total revenue
$93,202
Total expenses
$154,425
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$10
Other revenue
$93,192
Total assets, end of year
$1,371,644
Total liabilities, end of year
$1,657,176
Net assets or fund balances, end of year
-$285,532
Program services expenses (Part IX)
$154,425
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$154,425

Program services were 100.0% 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.

  • 3 · Investment income

    total $10 · excluded $10

  • 11a · Other revenue: RENTAL INCOME

    total $78,468 · related or exempt $78,468

  • 11b · Other revenue: INSURANCE PROCEEDS

    total $14,724 · related or exempt $14,724

  • 11e · Other revenue, total

    $93,192

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $4,290 · program services $4,290

  • 11c · Fees: accounting

    total $11,965 · program services $11,965

  • 22 · Depreciation, depletion and amortization

    total $60,903 · program services $60,903

  • 23 · Insurance

    total $12,299 · program services $12,299

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $45,724 · program services $45,724

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $13,182 · program services $13,182

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $3,047 · program services $3,047

  • 24d · Other expenses: UTILITIES EXPENSE

    total $3,015 · program services $3,015

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $36,481 · end of year $9,587

  • 2 · Savings and temporary cash investments

    beginning of year $83,489 · end of year $92,017

  • 4 · Accounts receivable

    beginning of year $3,287 · end of year $6,051

  • 9 · Prepaid expenses and deferred charges

    beginning of year $687 · end of year $2,671

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

    $1,582,169

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

    $327,781

  • 10c · Land, buildings and equipment, net

    beginning of year $1,315,291 · end of year $1,254,388

  • 13 · Investments: program-related

    beginning of year $5,849 · end of year $6,930

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,699 · end of year $21,214

  • 19 · Deferred revenue

    beginning of year $14,732 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,635,962 · end of year $1,635,962

  • 27 · Net assets without donor restrictions

    beginning of year -$224,309 · end of year -$285,532

Mission and programs · 2023

Mission

TO DEVELOP LOW INCOME HOUSING AVAILABILITY TO HOMELESS INDIVIDUALS AND FAMILIES WITH A HISTORY OF DEVELOPMENTAL DISABILITIES.

  • RENTAL OF REAL PROPERTY LOCATED AT 83-89 THIRD AVENUE IN ALBANY, NEW YORK. THE PROPERTY CONSISTS OF 8 HOUSING UNITS LEASED TO PERSONS WHOSE INCOME DOES NOT EXCEED 60% OF THE AREA'S MEDIAN GROSS INCOME AS DETERMINED IN ACCORDANCE WITH SECTION 42 OF THE INTERNAL REVENUE CODE. TENANT ELIGIBILITY IS DETERMINED UNDER THE CRITERIA SET FORTH BY VARIOUS LENDERS, TENANT REFERRAL SERVICES, AND OTHER REGULATORY AGENCIES.

    Expenses $154,425

As filed on the 2023 return.

Listed in Part VII

  • Mary Olsen

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Noel Olsen

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Carolann Yezzo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

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.

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
2023
Filed
12 March 2024
IRS schema version
2023v4.0
Source object
202420749349300602

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