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← SECOND FARMS NEIGHBORHOOD HOUSING DEVELOPMENT FUND INC

Form 990 for tax year 2024

Filed by SECOND FARMS NEIGHBORHOOD HOUSING DEVELOPMENT FUND INC.

Totals

Total revenue
$1,280,234
Total expenses
$167,896
Contributions and grants received
$0
Grants paid
$72,500
Program service revenue
$1,183,691
Investment income
$96,543
Other revenue
$0
Total assets, end of year
$37,641,597
Total liabilities, end of year
$2,665,178
Net assets or fund balances, end of year
$34,976,419
Program services expenses (Part IX)
$100,000
Management and general expenses
$67,896
Fundraising expenses
$0
Program service expenses (Part III)
$100,000

Program services were 59.6% 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: INTEREST FROM NOTES RE

    total $1,183,691 · related or exempt $1,183,691

  • 3 · Investment income

    total $96,543 · excluded $96,543

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $72,500 · program services $72,500

  • 11a · Fees: management

    total $6,000 · management and general $6,000

  • 11b · Fees: legal

    total $42,100 · management and general $42,100

  • 11c · Fees: accounting

    total $19,035 · management and general $19,035

  • 20 · Interest

    total $27,500 · program services $27,500

  • 24e · All other expenses

    total $761 · management and general $761

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,157,136 · end of year $1,014,537

  • 2 · Savings and temporary cash investments

    beginning of year $2,185,548 · end of year $2,517,993

  • 7 · Other notes and loans receivable

    beginning of year $33,171,248 · end of year $34,075,345

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,000 · end of year $32,100

  • 15 · Other assets

    beginning of year $147 · end of year $1,622

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,500 · end of year $12,180

  • 25 · Other liabilities

    beginning of year $2,650,498 · end of year $2,652,998

  • 27 · Net assets without donor restrictions

    beginning of year $33,864,081 · end of year $34,976,419

Mission and programs · 2024

Mission

TO ACT AS CO-DEVELOPER, FACILITATE, PARTICIPATE, AND ASSIST THE DEVELOPER IN THE REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS, AND RELATED ACCESSORY SERVICES.

  • ACTED AS CO-DEVELOPER, FACILITATED, PARTICIPATED, AND ASSISTED THE DEVELOPER IN THE REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS, AND RELATED ACCESSORY SERVICES.

    Expenses $100,000 · Grants $72,500 · Revenue $1,183,691

As filed on the 2024 return.

Listed in Part VII

  • MONSIGNOR KEVIN SULLIVAN

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • GEORGE HORTON

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • DAVID BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • REVEREND ERIC CRUZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3 + 1 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.

Grants 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
2024
Filed
19 January 2026
IRS schema version
2024v5.5
Source object
202640299349300129

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