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← CHINATOWN PRESERVATION HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by CHINATOWN PRESERVATION HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$2,384,908
Total expenses
$2,741,465
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,340,799
Investment income
$14,469
Other revenue
$29,640
Total assets, end of year
$24,642,994
Total liabilities, end of year
$27,632,027
Net assets or fund balances, end of year
-$2,989,033
Program services expenses (Part IX)
$2,540,997
Management and general expenses
$200,468
Fundraising expenses
$0
Program service expenses (Part III)
$2,540,997

Program services were 92.7% 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 $2,340,355 · related or exempt $2,340,355

  • 2b · Program service revenue: BAD DEBT RECOVERIES

    total $444 · related or exempt $444

  • 3 · Investment income

    total $14,469 · excluded $14,469

  • 11a · Other revenue: WATER AND SEWER

    total $15,282 · excluded $15,282

  • 11b · Other revenue: OTHER REVENUE

    total $13,351 · related or exempt $13,351

  • 11c · Other revenue: REAL ESTATE REFUND

    total $1,007 · related or exempt $1,007

  • 11e · Other revenue, total

    $29,640

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $516,102 · program services $363,394 · management and general $152,708

  • 11b · Fees: legal

    total $1,500 · program services $211 · management and general $1,289

  • 11g · Fees: other

    total $20,935 · program services $2,939 · management and general $17,996

  • 13 · Office expenses

    total $8,655 · management and general $8,655

  • 14 · Information technology

    total $5,818 · program services $5,818

  • 16 · Occupancy

    total $571,597 · program services $571,597

  • 20 · Interest

    total $315,100 · program services $315,100

  • 22 · Depreciation, depletion and amortization

    total $742,044 · program services $742,044

  • 23 · Insurance

    total $186,972 · program services $186,972

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $167,501 · program services $167,501

  • 24b · Other expenses: VACANCY LOSS

    total $152,334 · program services $152,334

  • 24c · Other expenses: BAD DEBTS

    total $19,820 · management and general $19,820

  • 24d · Other expenses: OTHER EXPENSES

    total $18,183 · program services $18,183

  • 24e · All other expenses

    total $14,904 · program services $14,904

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $153,000 · end of year $609,637

  • 2 · Savings and temporary cash investments

    beginning of year $1,020,923 · end of year $430,046

  • 4 · Accounts receivable

    beginning of year $27,153 · end of year $23,842

  • 9 · Prepaid expenses and deferred charges

    beginning of year $186,891 · end of year $184,836

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

    $32,827,820

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

    $11,158,672

  • 10c · Land, buildings and equipment, net

    beginning of year $22,021,037 · end of year $21,669,148

  • 15 · Other assets

    beginning of year $1,994,461 · end of year $1,725,485

  • 17 · Accounts payable and accrued expenses

    beginning of year $230,566 · end of year $208,012

  • 19 · Deferred revenue

    beginning of year $67,988 · end of year $16,669

  • 23 · Secured mortgages and notes payable

    beginning of year $27,482,921 · end of year $27,145,844

  • 25 · Other liabilities

    beginning of year $254,466 · end of year $261,502

  • 27 · Net assets without donor restrictions

    beginning of year -$2,632,476 · end of year -$2,989,033

Mission and programs · 2023

Mission

ACQUIRES, PRESERVES, AND OPERATES AFFORDABLE (RENTAL) HOUSING FOR LOW TO MEDIAN INCOME FAMILIES.

Activities or mission (Part I)

ACQUIRES, PRESERVES, AND OPERATES AFFORDABLE RENTAL HOUSING FOR LOW INCOME TO MEDIAN INCOME FAMILIES.

  • THE COMPANY OWNS AND OPERATES SIX LOW-INCOME HOUSING BUILDINGS WITH A TOTAL OF 132 UNITS IN NEW YORK, NEW YORK.

    Expenses $2,540,997 · Revenue $2,355,157

As filed on the 2023 return.

Listed in Part VII

  • HSUEH LAM YAN

    SECRETARY/ ASSET & PROP. MGT DIR.

    Total calculated
    $200,614
    From this org
    $0
    From related orgs
    $178,281
    Other
    $22,333
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $178,281 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,544 related
    Nontaxable benefits
    $0 + $15,789 related
    Filer's total
    $0 + $200,614 related

  • MY CHAN

    VP/CHIEF OF STAFF

    Total calculated
    $147,904
    From this org
    $0
    From related orgs
    $139,860
    Other
    $8,044
    Hours/week
    1 + 37 related

  • THOMAS YU

    PRESIDENT/ED

    Total calculated
    $345,309
    From this org
    $0
    From related orgs
    $279,045
    Other
    $66,264
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,045 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,754 related
    Nontaxable benefits
    $0 + $56,510 related
    Filer's total
    $0 + $345,309 related

  • HUI-YUAN NELSON CHAN

    TREASURER/MANG. DIR OF COMM. SVCS

    Total calculated
    $217,063
    From this org
    $0
    From related orgs
    $168,900
    Other
    $48,163
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,812 related
    Nontaxable benefits
    $0 + $41,351 related
    Filer's total
    $0 + $217,063 related

  • JOY SUZANNE GRANADO

    CFO

    Total calculated
    $220,591
    From this org
    $0
    From related orgs
    $192,545
    Other
    $28,046
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,545 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,617 related
    Nontaxable benefits
    $0 + $20,429 related
    Filer's total
    $0 + $220,591 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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE PRESIDENT/ED IS ESTABLISHED BY THE RELATED ENTITY, ASIAN AMERICANS FOR EQUALITY, INC

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202403049349303050

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