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Nonprofiteer
← STEGER HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by STEGER HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$411,398
Total expenses
$423,137
Contributions and grants received
$156,253
Grants paid
$0
Program service revenue
$251,147
Investment income
$2,579
Other revenue
$1,419
Total assets, end of year
$741,272
Total liabilities, end of year
$3,470,353
Net assets or fund balances, end of year
-$2,729,081
Program services expenses (Part IX)
$199,940
Management and general expenses
$223,197
Fundraising expenses
$0
Program service expenses (Part III)
$199,940

Program services were 47.3% 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)

    $156,253

  • 2a · Program service revenue: RENTAL REVENUE - TENAN

    total $251,147 · related or exempt $251,147

  • 3 · Investment income

    total $2,579 · excluded $2,579

  • 11a · Other revenue: LAUNDRY & VENDING

    total $1,400 · excluded $1,400

  • 11b · Other revenue: MISCELLANEOUS

    total $19 · related or exempt $19

  • 11e · Other revenue, total

    $1,419

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $89,214 · program services $578 · management and general $88,636

  • 9 · Other employee benefits

    total $16,917 · program services $16,917

  • 10 · Payroll taxes

    total $7,837 · program services $7,837

  • 11a · Fees: management

    total $53,497 · management and general $53,497

  • 11c · Fees: accounting

    total $18,016 · management and general $18,016

  • 12 · Advertising and promotion

    total $301 · management and general $301

  • 13 · Office expenses

    total $15,377 · management and general $15,377

  • 19 · Conferences, conventions and meetings

    total $28 · management and general $28

  • 22 · Depreciation, depletion and amortization

    total $32,278 · program services $32,278

  • 23 · Insurance

    total $25,140 · program services $25,140

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $51,289 · program services $51,289

  • 24b · Other expenses: ELDERLY CARE EXPENSES

    total $40,356 · management and general $40,356

  • 24c · Other expenses: UTILITIES

    total $37,514 · program services $37,514

  • 24d · Other expenses: SUPPLIES

    total $28,387 · program services $28,387

  • 24e · All other expenses

    total $6,986 · management and general $6,986

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,204 · end of year $5,914

  • 4 · Accounts receivable

    beginning of year $1,320 · end of year $296

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,683 · end of year $13,542

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

    $3,833,533

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

    $3,440,862

  • 10c · Land, buildings and equipment, net

    beginning of year $383,035 · end of year $392,671

  • 15 · Other assets

    beginning of year $326,127 · end of year $328,849

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,818 · end of year $41,617

  • 19 · Deferred revenue

    beginning of year $51 · end of year $1,895

  • 23 · Secured mortgages and notes payable

    beginning of year $3,407,000 · end of year $3,407,000

  • 25 · Other liabilities

    beginning of year $19,842 · end of year $19,841

  • 27 · Net assets without donor restrictions

    beginning of year -$2,717,342 · end of year -$2,729,081

Mission and programs · 2023

Mission

THE ORGANIZATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NON-PROFIT BASIS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, SAID PROJECT KNOWN AS ST. JUDE LOCATED IN ROCHESTER, NEW YORK.

Activities or mission (Part I)

STEGER HOUSING DEVELOPMENT FUND COMPANY, INC., PROJECT NO.14-EE057 (THE 'COMPANY'), IS A DULY AUTHORIZED NOT-FOR-PROFIT CORPORATION FORMED PURSUANT TO ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW OF THE STATE OF NEW YORK. THE COMPANY WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NON-PROFIT BASIS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, FEDERAL CAPITAL ADVANCE PROGRAM. SAID PROJECT KNOWN AS ST. JUDE APARTMENTS, A 55-UNIT PROJECT (ONE UNIT IS OCCUPIED BY THE SUPERINTENDENT AND IS NON-INCOME PRODUCING) LOCATED IN ROCHESTER, NEW YORK RECEIVES PROJECT RENTAL ASSISTANCE PROGRAM PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.

  • CORPORATION WAS FORMED PURSUANT TO ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW OF NYS, EXCLUSIVELY TO OWN AND OPERATE A HOUSING PROJECT FOR THE ELDERLY AND LOW INCOME HANDICAPPED. THE 55-UNIT PROJECT WAS FULLY RENTED FOR ITS ENTIRE FISCAL YEAR TO QUALIFIED PARTICIPANTS UNDER DEPARTMENT OF HUD REGULATIONS

    Expenses $199,940 · Revenue $251,166

As filed on the 2023 return.

Listed in Part VII

  • Steven Spoto

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Donald E Kuhman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Gary Rigoni

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • William A Gillette

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Greg Westbrook

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • James Gray

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Rochelle Brunshidle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Sharon Paris

    SECRETARY/TREASURER

    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
21 March 2025
IRS schema version
2023v6.0
Source object
202510859349300936

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