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Nonprofiteer
← KB25 HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by KB25 HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,345,394
Total expenses
$1,224,233
Contributions and grants received
$0
Grants paid
$50,000
Program services expenses (Part IX)
$1,078,421
Management and general expenses
$145,812
Fundraising expenses
$0
Program service expenses (Part III)
$1,078,421

Program services were 88.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ADAM WEINSTEIN

    PRESIDENT/CEO

    Total calculated
    $990,213
    From this org
    $0
    From related orgs
    $818,137
    Other
    $172,076
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $660,637 related
    Bonus
    $0 + $135,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0 + $143,252 related
    Nontaxable benefits
    $0 + $28,824 related
    Filer's total
    $0 + $990,213 related

  • JAMES ROBERT PIGOTT JR

    VICE PRESIDENT AND SECRETA

    Total calculated
    $430,091
    From this org
    $0
    From related orgs
    $350,387
    Other
    $79,704
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,887 related
    Bonus
    $0 + $58,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $23,502 related
    Filer's total
    $0 + $430,091 related

  • LUKEMAN OGUNYINKA

    TREASURER

    Total calculated
    $337,124
    From this org
    $0
    From related orgs
    $274,320
    Other
    $62,804
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,320 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $6,602 related
    Filer's total
    $0 + $337,124 related

  • MATTHEW KELLY

    VICE PRESIDENT

    Total calculated
    $423,493
    From this org
    $0
    From related orgs
    $350,240
    Other
    $73,253
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $267,740 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $17,051 related
    Filer's total
    $0 + $423,493 related

  • MICHAEL WADMAN

    VICE PRESIDENT

    Total calculated
    $360,805
    From this org
    $0
    From related orgs
    $302,790
    Other
    $58,015
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,790 related
    Bonus
    $0 + $40,000 related
    Other
    $0
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $1,813 related
    Filer's total
    $0 + $360,805 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 — 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B
ADAM WEINSTEIN, PRESIDENT, IS A PARTICIPANT IN A SECTION 457(F) PLAN THAT REQUIRES HIM TO PERFORM SERVICES FOR A PERIOD OF TIME. HE HAS RECEIVED ANNUAL AWARDS BEGINNING IN 2017 AND (CONSISTENT WITH IRS FORM 990, SCHEDULE J INSTRUCTIONS) THESE AMOUNTS ARE TREATED AS ACCRUED OR EARNED RATABLY OVER THE COURSE OF THE SERVICE PERIOD. $87,050 IS REPORTED AS EARNED DURING THE REPORTING PERIOD WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C).
PART I, LINE 3:
PHIPPS HOUSES, AN AFFILIATE OF THE REPORTING ORGANIZATION PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. PHIPPS HOUSES HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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

  • PHIPPS HOUSES

    $50,000

    THE DEVELOPMENT OR MAINTENANCE OF LOW-INCOME OR AFFORDABLE HOUSING ON A TAX EXEMPT BASIS.

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
14 November 2024
IRS schema version
2023v5.1
Source object
202413209349300126

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