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Nonprofiteer
← NORTH SUFFOLK COMMUNITY HOUSING CORP

Form 990 for tax year 2023

Filed by NORTH SUFFOLK COMMUNITY HOUSING CORP.

Totals

Total revenue
$225,934
Total expenses
$232,332
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$225,680
Investment income
$254
Other revenue
$0
Total assets, end of year
$428,135
Total liabilities, end of year
$758,612
Net assets or fund balances, end of year
-$330,477
Program services expenses (Part IX)
$195,730
Management and general expenses
$36,602
Fundraising expenses
$0
Program service expenses (Part III)
$195,730

Program services were 84.2% 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 FEES, NET

    total $225,680 · related or exempt $225,680

  • 3 · Investment income

    total $254 · excluded $254

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $9,127 · management and general $9,127

  • 11c · Fees: accounting

    total $18,512 · management and general $18,512

  • 11g · Fees: other

    total $26,717 · program services $20,779 · management and general $5,938

  • 13 · Office expenses

    total $5,396 · program services $5,396

  • 16 · Occupancy

    total $84,737 · program services $84,737

  • 20 · Interest

    total $55,738 · program services $55,738

  • 22 · Depreciation, depletion and amortization

    total $29,080 · program services $29,080

  • 24a · Other expenses: MISC EXPENSES

    total $3,025 · management and general $3,025

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,674 · end of year $14,061

  • 2 · Savings and temporary cash investments

    beginning of year $55,110 · end of year $57,280

  • 4 · Accounts receivable

    beginning of year $6,185 · end of year $4,460

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

    $1,218,756

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

    $866,422

  • 10c · Land, buildings and equipment, net

    beginning of year $381,414 · end of year $352,334

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,388 · end of year $37,481

  • 23 · Secured mortgages and notes payable

    beginning of year $639,859 · end of year $594,620

  • 25 · Other liabilities

    beginning of year $123,215 · end of year $126,511

  • 27 · Net assets without donor restrictions

    beginning of year -$324,079 · end of year -$330,477

Mission and programs · 2023

Mission

PROVIDES LOW-INCOME RESIDENTIAL HOUSING.

  • THE AGENCY OPERATES SIXTEEN UNITS OF LOW INCOME RESIDENTIAL HOUSING.

    Expenses $195,730 · Revenue $225,680

As filed on the 2023 return.

Listed in Part VII

  • DAMIEN CABEZAS

    CEO

    Total calculated
    $391,091
    From this org
    $0
    From related orgs
    $352,305
    Other
    $38,786
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $350,305 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0 + $17,650 related
    Nontaxable benefits
    $0 + $21,136 related
    Filer's total
    $0 + $391,091 related

  • KIM JOYCE

    CHIEF FINANCIAL OFFICER

    Total calculated
    $174,731
    From this org
    $0
    From related orgs
    $165,499
    Other
    $9,232
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,499 related
    Bonus
    $0 + $2,000 related
    Other
    $0
    Deferred
    $0 + $600 related
    Nontaxable benefits
    $0 + $8,632 related
    Filer's total
    $0 + $174,731 related

  • DEBORAH WAYNE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1 + 1.7 related

  • CHARLOTTE NUNEZ

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1.7 related

  • RENEE CASO

    CLERK

    Total calculated
    $0
    Hours/week
    0.1 + 1.7 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
COMPENSATION IS PAID BY RELATED ORGANIZATION NORTH SUFFOLK COMMUNITY SERVICES, INC. (NSCS). NSCS'S BOARD COMPENSATION COMMITTEE REVIEWS THE CEO SALARY USING THE FOLLOWING PROCEDURE AND THE CEO USES THE SAME PROCEDURE TO DETERMINE KEY EMPLOYEES' COMPENSATION: 1) THE COMMITTEE REVIEWS WRITTEN EVALUATION, REVIEWS GOALS AND OBJECTIVES, AND MEASURES FINANCIAL GOALS AGAINST FINAL RESULTS. 2) THE COMMITTEE REVIEWS SALARIES OF SIMILAR AGENCIES WITHIN THE SAME INDUSTRY AND MAKES SALARY DECISIONS WITH CONSIDERATION FOR THE AGENCY'S OVERALL ECONOMIC AND COMPETITIVE POSITION. 3) THE BOARD VOTES FINAL COMPENSATION PACKAGE.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202403119349303800

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