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Nonprofiteer
← CYPRESS WEST HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by CYPRESS WEST HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$370,649
Total expenses
$511,144
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$368,087
Investment income
$2,494
Other revenue
$68
Total assets, end of year
$1,734,313
Total liabilities, end of year
$2,819,430
Net assets or fund balances, end of year
-$1,085,117
Program services expenses (Part IX)
$495,280
Management and general expenses
$15,864
Fundraising expenses
$0
Program service expenses (Part III)
$495,280

Program services were 96.9% 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 INCOME

    total $368,087 · related or exempt $368,087

  • 3 · Investment income

    total $2,494 · excluded $2,494

  • 11d · All other revenue

    total $68 · related or exempt $68

  • 11e · Other revenue, total

    $68

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $20,842 · program services $20,842

  • 11b · Fees: legal

    total $1,514 · management and general $1,514

  • 11c · Fees: accounting

    total $8,700 · management and general $8,700

  • 11g · Fees: other

    total $5,650 · management and general $5,650

  • 13 · Office expenses

    total $29,942 · program services $29,942

  • 16 · Occupancy

    total $145,507 · program services $145,507

  • 20 · Interest

    total $3,282 · program services $3,282

  • 22 · Depreciation, depletion and amortization

    total $93,667 · program services $93,667

  • 23 · Insurance

    total $47,810 · program services $47,810

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $113,826 · program services $113,826

  • 24b · Other expenses: BAD DEBTS

    total $38,312 · program services $38,312

  • 24e · All other expenses

    total $2,092 · program services $2,092

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $43,896 · end of year $16,782

  • 4 · Accounts receivable

    beginning of year $37,077 · end of year $39,255

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,745 · end of year $41,695

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

    $2,572,096

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

    $1,249,325

  • 10c · Land, buildings and equipment, net

    beginning of year $1,392,381 · end of year $1,322,771

  • 15 · Other assets

    beginning of year $311,850 · end of year $313,810

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,594 · end of year $109,743

  • 19 · Deferred revenue

    beginning of year $2,421 · end of year $1,305

  • 21 · Escrow or custodial account liability

    beginning of year $17,943 · end of year $18,269

  • 23 · Secured mortgages and notes payable

    beginning of year $2,691,513 · end of year $2,684,565

  • 25 · Other liabilities

    beginning of year $100 · end of year $5,548

  • 27 · Net assets without donor restrictions

    beginning of year -$944,622 · end of year -$1,085,117

Mission and programs · 2022

Mission

TO PROVIDE AND MAINTAIN AFFORDABLE HOUSING FOR PERSONS AND FAMILIES OF LOW INCOME IN BROOKLYN, NEW YOK.

Activities or mission (Part I)

TO PROVIDE AND MAINTAIN AFFORDABLE HOUSING FOR PERSONS AND FAMILIES OF LOW INCOME IN BROOKLYN, NEW YORK.

  • AFFORDABLE HOUSING PROGRAM THAT PROVIDES 39 RESIDENTIAL UNITS FOR RENT TO PERSONS AND FAMILIES OF LOW INCOME IN BROOKLYN, NEW YORK.

    Expenses $495,280 · Revenue $368,155

As filed on the 2022 return.

Listed in Part VII

  • Harold Green

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ivelisse Gonzalez

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Marisol Quinones

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mark Migliacci

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Melodye Harvey

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Michelle D Neugebauer

    EXECUTIVE DIRECTOR

    Total calculated
    $203,090
    From this org
    $0
    From related orgs
    $180,576
    Other
    $22,514
    Hours/week
    0.5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,576 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,800 related
    Nontaxable benefits
    $0 + $15,714 related
    Filer's total
    $0 + $203,090 related

  • Mirian Rodriguez

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Rd Gentzler

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Sylvia Stovall

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Gaudi Polanco-Mendoza

    CFO

    Total calculated
    $157,991
    From this org
    $0
    From related orgs
    $149,116
    Other
    $8,875
    Hours/week
    0.5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,116 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,800 related
    Nontaxable benefits
    $0 + $3,075 related
    Filer's total
    $0 + $157,991 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

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.

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.

  • CYPRESS VILLAGE LP

    AFFORDABLE HOUSING · NY

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349301968

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