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← UNIVERSITY AVENUE SENIOR HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by UNIVERSITY AVENUE SENIOR HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,254,370
Total expenses
$1,752,539
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,203,941
Investment income
$429
Other revenue
$50,000
Total assets, end of year
$5,623,316
Total liabilities, end of year
$13,428,850
Net assets or fund balances, end of year
-$7,805,534
Program services expenses (Part IX)
$1,649,776
Management and general expenses
$102,763
Fundraising expenses
$0
Program service expenses (Part III)
$1,649,776

Program services were 94.1% 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 $1,199,609 · related or exempt $1,199,609

  • 2b · Program service revenue: LAUNDRY AND VENDING

    total $4,332 · related or exempt $4,332

  • 3 · Investment income

    total $429 · related or exempt $429

  • 11a · Other revenue: OTHER INCOME

    total $50,000 · related or exempt $50,000

  • 11e · Other revenue, total

    $50,000

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $185,081 · program services $185,081

  • 9 · Other employee benefits

    total $59,478 · program services $59,478

  • 10 · Payroll taxes

    total $9,443 · program services $9,443

  • 11a · Fees: management

    total $86,872 · management and general $86,872

  • 11b · Fees: legal

    total $239 · program services $239

  • 11c · Fees: accounting

    total $15,891 · management and general $15,891

  • 11g · Fees: other

    total $2,375 · program services $2,375

  • 13 · Office expenses

    total $13,101 · program services $13,101

  • 20 · Interest

    total $4,403 · program services $4,403

  • 22 · Depreciation, depletion and amortization

    total $464,253 · program services $464,253

  • 23 · Insurance

    total $103,307 · program services $103,307

  • 24a · Other expenses: SECURITY

    total $294,708 · program services $294,708

  • 24b · Other expenses: UTILIES

    total $200,286 · program services $200,286

  • 24c · Other expenses: REAL ESTATE TAXES

    total $162,527 · program services $162,527

  • 24d · Other expenses: REPAIR & MAINTENANCE

    total $118,910 · program services $118,910

  • 24e · All other expenses

    total $31,665 · program services $31,665

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,683 · end of year $30,987

  • 4 · Accounts receivable

    beginning of year $38,416 · end of year $22,517

  • 9 · Prepaid expenses and deferred charges

    beginning of year $80,743 · end of year $156,531

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

    $12,832,795

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

    $7,872,114

  • 10c · Land, buildings and equipment, net

    beginning of year $5,423,163 · end of year $4,960,681

  • 14 · Intangible assets

    beginning of year $39,879 · end of year $38,108

  • 15 · Other assets

    beginning of year $362,333 · end of year $414,492

  • 17 · Accounts payable and accrued expenses

    beginning of year $160,870 · end of year $323,333

  • 21 · Escrow or custodial account liability

    beginning of year $27,087 · end of year $26,181

  • 23 · Secured mortgages and notes payable

    beginning of year $12,431,300 · end of year $12,431,300

  • 25 · Other liabilities

    beginning of year $666,325 · end of year $648,036

  • 27 · Net assets without donor restrictions

    beginning of year -$7,307,365 · end of year -$7,805,534

Mission and programs · 2024

Mission

TO PROVIDE HOUSING FOR LOW INCOME SENIORS

Activities or mission (Part I)

TO PROVIDE HOUSING FOR LOW INCOME SENIORS.

  • PROVISION OF HOUSING FOR LOW INCOME SENIORS

    Expenses $1,649,776

As filed on the 2024 return.

Listed in Part VII

  • Msgr Donald Sakano

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Rev Mark Cregan

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Kenneth Browne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Rev Joseph Franco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Rev Fr Jose R Cruz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Beatriz Diaz Taveras

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Rosanna Viera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Kobina Arhin

    SVP/CEO

    Total calculated
    $311,847
    From this org
    $0
    From related orgs
    $311,847
    Other
    $0
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,847 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $311,847 related

  • Donna M Smith

    CFO

    Total calculated
    $184,239
    From this org
    $0
    From related orgs
    $184,239
    Other
    $0
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,239 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $184,239 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.

  • SHAKESPEARE ASSOCIATES LP

    HOUSING · NY

  • JESUP AVENUE LP

    HOUSING · NY

  • NELSON AVENUE LP

    HOUSING · NY

  • JESUP AVENUE ASSOCIATES LP

    HOUSING · NY

  • PLIMPTON 1450 LP

    HOUSING · NY

  • EXCEL NELSON LP

    HOUSING · NY

  • SHAKSPEARE WATSON LP

    HOUSING · NY

  • WEST 170TH OGDEN LP

    HOUSING · NY

Related corporations and trusts

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

  • JESUP ONE INC

    C · HOUSING · NY

  • JESUP TWO INC

    C · HOUSING · NY

  • NELSON SENIOR INC

    C · HOUSING · NY

  • NORTH SHAKESPEARE INC

    C · HOUSING · NY

  • AB PLIMPTON INC

    C · HOUSING · NY

  • OSP LAMBS INC

    C · HOUSING · NY

  • WATSON 1437 INC

    C · HOUSING · NY

  • WEST OGDEN INC

    C · HOUSING · NY

Provenance

Return type
form_990
Tax year
2024
Filed
30 September 2025
IRS schema version
2024v5.2
Source object
202533149349305078

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