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← SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO INC

Form 990 for tax year 2024

Filed by SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO INC.

Totals

Total revenue
$1,302,220
Total expenses
$1,075,935
Contributions and grants received
$0
Grants paid
$36,250
Program service revenue
$1,162,138
Investment income
$140,082
Other revenue
$0
Total assets, end of year
$6,636,294
Total liabilities, end of year
$51,377
Net assets or fund balances, end of year
$6,584,917
Program services expenses (Part IX)
$951,108
Management and general expenses
$124,827
Fundraising expenses
$0
Program service expenses (Part III)
$951,108

Program services were 88.4% 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: HUD HAP PAYMENTS

    total $773,856 · related or exempt $773,856

  • 2b · Program service revenue: RENTAL INCOME

    total $316,093 · related or exempt $316,093

  • 2c · Program service revenue: CELL TOWER INCOME

    total $64,707 · related or exempt $64,707

  • 2d · Program service revenue: LAUNDRY INCOME

    total $6,096 · related or exempt $6,096

  • 2e · Program service revenue: PASS-THRU FUNDS FROM M

    total $1,386 · related or exempt $1,386

  • 3 · Investment income

    total $131,739 · excluded $131,739

  • 7a · Gross sales of assets other than inventory

    securities $545,565

  • 7b · Less cost or other basis and sales expenses

    securities $537,222

  • 7c · Gain or loss

    securities $8,343

  • 7d · Net gain or loss

    total $8,343 · excluded $8,343

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,250 · program services $36,250

  • 5 · Compensation of officers, directors and key employees

    total $4,575 · management and general $4,575

  • 7 · Other salaries and wages

    total $251,510 · program services $251,510

  • 10 · Payroll taxes

    total $43,629 · program services $43,629

  • 11a · Fees: management

    total $60,509 · management and general $60,509

  • 11b · Fees: legal

    total $6,350 · management and general $6,350

  • 11c · Fees: accounting

    total $22,565 · management and general $22,565

  • 11f · Fees: investment management

    total $3,151 · management and general $3,151

  • 11g · Fees: other

    total $5,100 · management and general $5,100

  • 13 · Office expenses

    total $50,130 · program services $27,553 · management and general $22,577

  • 22 · Depreciation, depletion and amortization

    total $220,965 · program services $220,965

  • 23 · Insurance

    total $207,935 · program services $207,935

  • 24a · Other expenses: REPAIRS / MAINTENANCE

    total $75,685 · program services $75,685

  • 24b · Other expenses: UTILITIES

    total $44,948 · program services $44,948

  • 24c · Other expenses: PILOT / REAL ESTATE TAX

    total $32,159 · program services $32,159

  • 24d · Other expenses: WATER

    total $10,474 · program services $10,474

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $414,831 · end of year $335,959

  • 4 · Accounts receivable

    beginning of year $19,165 · end of year $361,790

  • 9 · Prepaid expenses and deferred charges

    beginning of year $63,445 · end of year $70,556

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

    $6,570,681

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

    $3,913,742

  • 10c · Land, buildings and equipment, net

    beginning of year $2,547,942 · end of year $2,656,939

  • 12 · Investments: other securities

    beginning of year $3,329,399 · end of year $3,183,656

  • 15 · Other assets

    beginning of year $28,664 · end of year $27,394

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,329 · end of year $17,535

  • 19 · Deferred revenue

    beginning of year $3,378 · end of year $5,313

  • 25 · Other liabilities

    beginning of year $27,834 · end of year $28,529

  • 27 · Net assets without donor restrictions

    beginning of year $6,356,905 · end of year $6,584,917

Mission and programs · 2024

Mission

SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO, INC. WAS ORGANIZED AND INCORPORATED UNDER THE NEW YORK STATE PRIVATE HOUSING FINANCE LAW. IN 1994, THE FUND ACQUIRED A 96 UNIT AFFORDABLE SENIOR HOUSING PROJECT IN SCOTIA, NEW YORK. THE PROJECT RECEIVES (CONTINUED ON SCHEDULE O) (CONTINUED FROM FORM 990, PART III, LINE 1) HOUSING ASSISTANCE (HAP) PAYMENTS (OR RENTAL SUBSIDIES) PURSUENT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED. THE FUND HAS ENTERED INTO A HAP AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). UNDER THIS CONTRACT, WHICH WILL BE SUBJECT TO RENEGOTIATION IN JUNE 2025, THE FUND RECEIVES HUD FUNDED RENT SUBSIDIES TO ACCOMMODATE SENIOR CITIZENS AGE 62 AND OLDER AND/OR THE DISABLED.

Activities or mission (Part I)

SEE FORM 990, PAGE 2, PART III, LINE 1A

  • THE FUND'S PRIMARY PROGRAM SERVICE IS TO PROVIDE HUD SUBSIDIZED/LOW INCOME HOUSING TO QUALIFIED TENANTS. IN 2015, THE FUND COMMENCED A MULTI-YEAR REHABILITATION PROJECT UNDER WHICH APPROXIMATELY $3.5 MILLION WILL BE COMMITTED TO THE COMPLETE REHABILITATION OF THE FUND'S HOUSING PROJECT IN SCOTIA. THIS PROJECT WILL INCLUDE THE REHABILITATION OF EACH APARTMENT, THE VARIOUS COMMON AREAS, AND THE REPLACEMENT OF THE BUILDING ELEVATORS. IT IS PROJECTED THAT APPROXIMATELY $300,000 WILL BE EXPENDED IN EACH OF THE NEXT THREE YEARS, WITH THE COMPLETION OF THE PROJECT IN 2028.

    Expenses $914,858 · Revenue $1,162,138

  • FROM TIME TO TIME, THE FUND MAY GRANT MONIES TO OTHER EXEMPT ORGANIZATIONS WHICH SHARE A COMMON MISSION OF SUPPORTING SENIOR HOUSING, MEALS FOR THOSE LIVING IN LOW INCOME HOUSING, AND OTHER PURPOSES WHICH MIGHT BE OTHERWISE ALIGNED WITH THE FUND'S MISSION. IN THE CURRENT FISCAL YEAR, THE FUND PROVIDED GRANTS TO THREE EXEMPT ORGANIZATIONS IN THE TOTAL AMOUNT OF $36,250. THESE GRANTS ARE REPORTED UNDER PAGE 10, PART IX, LINE 1, WITH MORE DETAILED INFORMATION REPORTED UNDER SCHEDULE I, PART II OF THIS FORM 990.

    Expenses $36,250 · Grants $36,250

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RICHARD COLUCCIELLO

    TREASURER

    Total calculated
    $675
    From this org
    $675
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • NANCY SHULTZ

    DIRECTOR

    Total calculated
    $425
    From this org
    $425
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • CHRISTINE BISSONETTE

    SECRETARY

    Total calculated
    $950
    From this org
    $950
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • EDWARD PINKERTON

    PRESIDENT

    Total calculated
    $700
    From this org
    $700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • HARLAN BARNEY

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • MARY BETH BUTCH

    DIRECTOR

    Total calculated
    $75
    From this org
    $75
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • LOUIS GIAMMATTEO

    DIRECTOR

    Total calculated
    $150
    From this org
    $150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • RHONDA KRUTZ

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TODD LAVERY

    DIRECTOR

    Total calculated
    $150
    From this org
    $150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • RONALD PINKERTON

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • SID RAMOTAR

    DIRECTOR

    Total calculated
    $75
    From this org
    $75
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • SHARON MACNEIL

    VICE-PRESIDENT

    Total calculated
    $700
    From this org
    $700
    From related orgs
    $0
    Other
    $0
    Hours/week
    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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
23 April 2026
IRS schema version
2024v5.5
Source object
202611149349301106

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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