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Nonprofiteer
← MHANY PENINSULA LOCAL DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by MHANY PENINSULA LOCAL DEVELOPMENT CORPORATION.

Totals

Total revenue
$707,081
Total expenses
$1,928,448
Contributions and grants received
$375,000
Grants paid
$0
Program service revenue
$326,558
Investment income
$5,523
Other revenue
$0
Total assets, end of year
$38,843,159
Total liabilities, end of year
$41,944,796
Net assets or fund balances, end of year
-$3,101,637
Program services expenses (Part IX)
$1,904,157
Management and general expenses
$24,291
Fundraising expenses
$0
Program service expenses (Part III)
$1,904,157

Program services were 98.7% 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.

  • 1e · Government grants (contributions)

    $375,000

  • 2a · Program service revenue: RENTAL INCOME

    total $326,558 · related or exempt $326,558

  • 3 · Investment income

    total $5,523 · excluded $5,523

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,991 · management and general $11,991

  • 11c · Fees: accounting

    total $12,300 · management and general $12,300

  • 11g · Fees: other

    total $309 · program services $309

  • 13 · Office expenses

    total $18,979 · program services $18,979

  • 16 · Occupancy

    total $169,240 · program services $169,240

  • 20 · Interest

    total $507,636 · program services $507,636

  • 22 · Depreciation, depletion and amortization

    total $972,137 · program services $972,137

  • 23 · Insurance

    total $43,677 · program services $43,677

  • 24a · Other expenses: BAD DEBT

    total $103,795 · program services $103,795

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $85,078 · program services $85,078

  • 24e · All other expenses

    total $3,306 · program services $3,306

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,168 · end of year $17,656

  • 3 · Pledges and grants receivable

    end of year $940,708

  • 4 · Accounts receivable

    beginning of year $1,419,627 · end of year $197,601

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,250 · end of year $6,676

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

    $39,108,701

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

    $1,982,777

  • 10c · Land, buildings and equipment, net

    beginning of year $37,868,453 · end of year $37,125,924

  • 15 · Other assets

    beginning of year $167,398 · end of year $554,594

  • 17 · Accounts payable and accrued expenses

    beginning of year $93,749 · end of year $490,100

  • 19 · Deferred revenue

    beginning of year $14,959,909 · end of year $14,230,205

  • 21 · Escrow or custodial account liability

    beginning of year $90,067 · end of year $93,925

  • 23 · Secured mortgages and notes payable

    beginning of year $17,973,985 · end of year $18,788,727

  • 25 · Other liabilities

    beginning of year $7,625,483 · end of year $8,341,839

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$1,275,297 · end of year -$3,101,637

Mission and programs · 2024

Mission

CONSTRUCTING, OPERATING AND LEASING APPROXIMATELY 57,000 SQUARE FEET OF INDUSTRIAL COMMERCIAL SPACE IN THE BRONX, NEW YORK.

  • CONSTRUCTING, OPERATING AND LEASING APPROXIMATELY 57,000 SQUARE FEET OF INDUSTRIAL COMMERCIAL SPACE IN THE BRONX, NEW YORK.

    Expenses $1,904,157 · Revenue $326,558

As filed on the 2024 return.

Listed in Part VII

  • Derrick Owens

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 13 related

  • Jenny Pacheco

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 13 related

  • Natalie Brown

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 13 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

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.

  • MHANY 1999 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 1999 II HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2002 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2003 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2004 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2005 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2011

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2012 HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2012 II HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY 2013

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY DUMONT HDFC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MHANY MANAGEMENT INC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

  • MHANY STELLA

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • MUTUAL HOUSING ASSOCIATION OF NEW YORK

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

  • NEW JERSEY ACORN HOUSING CORPORATION INC

    501(C)(3) · DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME · NY

    Directly controlled by MHANY MANAGEMENT INC

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.

  • 730 ROCKAWAY AVE LP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • 830 FOX STREET LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • 830 FOX STREET MANAGERS LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • ACORN NEW JERSEY STRAIGHT APARTMENTS LP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • BRISTOL HOPKINSON LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY 3 ASSOCIATES LP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY 4 ASSOCIATES LP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY 5 ASSOC LP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY CORTELYOU LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY CORTELYOU GP

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • MHANY OWNERS 2015 LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • PE2 OWNERS LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

  • PHOENIX ESTATES LLC

    INVESTMENT IN LOW-INCOME HOUSING · NY

Related corporations and trusts

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

  • 1825 ATLANTIC MHANY INC

    C · INVESTMENT · NY

  • 730 ROCKAWAY INC

    C · INVESTMENT · NY

  • 830 FOX STREET HDFC

    C · INVESTMENT · NY

  • ACORN STRAIGHT APARTMENTS INC

    C · INVESTMENT · NY

  • ACORN BRISTOL HDFC

    C · INVESTMENT · NY

  • MHANY 2007 HDFC

    C · INVESTMENT · NY

  • MHANY 2013 HOLDINGS HDFC

    C · INVESTMENT · NY

  • MHANY 2015 HDFC

    C · INVESTMENT · NY

  • MHANY 2015 MANAGER INC

    C · INVESTMENT · NY

  • MHANY 3 INC

    C · INVESTMENT · NY

  • MHANY 4 INC

    C · INVESTMENT · NY

  • MHANY 5 INC

    C · INVESTMENT · NY

  • MHANY BRITSOL INC

    C · INVESTMENT · NY

  • MHANY CORTELYOU HDFC

    C · INVESTMENT · NY

  • PE2 HDFC

    C · INVESTMENT · NY

  • PE2 MANAGER LLC

    C · INVESTMENT · NY

  • PHOENIX ESTATES HDFC

    C · INVESTMENT · NY

  • PHOENIX HUNTS POINT CORP

    C · INVESTMENT · NY

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202543159349302994

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