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Nonprofiteer
← HIGHBRIDGE COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by HIGHBRIDGE COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$3,126,955
Total expenses
$2,483,074
Contributions and grants received
$162,408
Grants paid
$0
Program service revenue
$2,949,016
Investment income
$889
Other revenue
$14,642
Total assets, end of year
$15,166,612
Total liabilities, end of year
$992,931
Net assets or fund balances, end of year
$14,173,681
Program services expenses (Part IX)
$1,396,148
Management and general expenses
$1,086,926
Fundraising expenses
$0
Program service expenses (Part III)
$1,396,148

Program services were 56.2% 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.

  • 1d · Related organizations

    $162,408

  • 2a · Program service revenue: MANAGEMENT FEES

    total $2,531,016 · related or exempt $2,531,016

  • 2b · Program service revenue: ADMIN FEES - AFFILIATE

    total $418,000 · related or exempt $418,000

  • 3 · Investment income

    total $889 · excluded $889

  • 11d · All other revenue

    total $14,642 · excluded $14,642

  • 11e · Other revenue, total

    $14,642

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $386,643 · management and general $386,643

  • 7 · Other salaries and wages

    total $3,135,229 · program services $2,464,706 · management and general $670,523

  • 8 · Pension plan contributions

    total $62,532 · program services $44,689 · management and general $17,843

  • 9 · Other employee benefits

    total $929,921 · program services $664,570 · management and general $265,351

  • 10 · Payroll taxes

    total $271,885 · program services $194,303 · management and general $77,582

  • 11b · Fees: legal

    total $12,000 · management and general $12,000

  • 11c · Fees: accounting

    total $60,000 · management and general $60,000

  • 11g · Fees: other

    total $223,892 · program services $25,176 · management and general $198,716

  • 12 · Advertising and promotion

    total $6,060 · management and general $6,060

  • 13 · Office expenses

    total $226,517 · program services $81,342 · management and general $145,175

  • 14 · Information technology

    total $131,991 · program services $329 · management and general $131,662

  • 17 · Travel

    total $12,571 · program services $7,322 · management and general $5,249

  • 19 · Conferences, conventions and meetings

    total $644 · management and general $644

  • 22 · Depreciation, depletion and amortization

    total $33,170 · program services $30,045 · management and general $3,125

  • 23 · Insurance

    total $235,442 · program services $36,857 · management and general $198,585

  • 24a · Other expenses: PROGRAM AND OTHER COSTS

    total $383,301 · program services $8,915 · management and general $374,386

  • 24b · Other expenses: SOCIAL SERVICE COSTS

    total $44,603 · program services $44,603

  • 24c · Other expenses: BANK CHARGES

    total $38,128 · management and general $38,128

  • 24d · Other expenses: EXP REIMB BY AFFILIATES

    total -$3,789,975 · program services -$2,264,209 · management and general -$1,525,766

  • 24e · All other expenses

    total $78,520 · program services $57,500 · management and general $21,020

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,841,410 · end of year $3,008,001

  • 2 · Savings and temporary cash investments

    beginning of year $1,072,764 · end of year $200,304

  • 9 · Prepaid expenses and deferred charges

    beginning of year $58,932 · end of year $107,009

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

    $777,396

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

    $713,909

  • 10c · Land, buildings and equipment, net

    beginning of year $94,600 · end of year $63,487

  • 13 · Investments: program-related

    beginning of year $25,194 · end of year $25,194

  • 15 · Other assets

    beginning of year $8,915,027 · end of year $11,762,617

  • 17 · Accounts payable and accrued expenses

    beginning of year $504,039 · end of year $837,343

  • 25 · Other liabilities

    beginning of year $25,088 · end of year $155,588

  • 27 · Net assets without donor restrictions

    beginning of year $13,466,612 · end of year $14,110,493

  • 28 · Net assets with donor restrictions

    beginning of year $12,188 · end of year $63,188

Mission and programs · 2023

Mission

THE ORGANIZATION ASSISTS IN THE DEVELOPMENT AND MANAGEMENT OF AFFORDABLE HOUSING IN THE BRONX. THE ORGANIZATION ALSO PROVIDES TENANT SERVICES FOR THE RESIDENTS OF THE HIGHBRIDGE SECTION WITH THE OVERALL GOAL OF IMPROVING THE NEIGHBORHOOD.

  • HCDC HAS SUCCESSFULLY DEVELOPED, MANAGES, AND OPERATES OVER 2,500 MODERATE AND LOW-INCOME UNITS THROUGHOUT NUMEROUS NEIGHBORHOODS IN THE BRONX. WE SPECIALIZE IN MULTIPLE SERVICES SUCH AS REAL ESTATE MANAGEMENT AND DEVELOPMENT, PROPERTY MANAGEMENT, AND COMMUNITYDEVELOPMENT. HCDC IS COMMITTED TO WORKING WITH RESIDENTS, BUSINESSES, AND RELIGIOUS ORGANIZATIONS THROUGHOUT THE BOROUGH TO MAKE THE BRONX A GREAT PLACE TO LIVE AND WORK BY PROVIDING HOUSING THAT IS AFFORDABLE, WELL-DESIGNED, SECURE, AND PROFESSIONALLY MANAGED.

    Expenses $1,396,148 · Revenue $2,949,016

As filed on the 2023 return.

Listed in Part VII

  • Msgr Donald Sakano

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Rev Mark Cregan

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Joseph Franco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kenneth P Browne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Ken Singleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kobina Arhin

    SVP/CEO

    Total calculated
    $333,197
    From this org
    $306,737
    From related orgs
    $0
    Other
    $26,460
    Hours/week
    33 + 2 related

    Schedule J breakdown matched by us

    Base
    $306,737
    Bonus
    $0
    Other
    $0
    Deferred
    $26,000
    Nontaxable benefits
    $460
    Filer's total
    $333,197

  • Donna Smith

    CFO

    Total calculated
    $53,446
    From this org
    $49,735
    From related orgs
    $0
    Other
    $3,711
    Hours/week
    34 + 1 related

  • Martin Rivera

    MAINTENANCE DIR.

    Total calculated
    $138,819
    From this org
    $130,672
    From related orgs
    $0
    Other
    $8,147
    Hours/week
    35

  • Bram Hillegers

    VP DEVELOPMENT

    Total calculated
    $111,098
    From this org
    $108,668
    From related orgs
    $0
    Other
    $2,430
    Hours/week
    35

  • Jhonathan Echavarria

    IT DIRECTOR

    Total calculated
    $145,717
    From this org
    $125,737
    From related orgs
    $0
    Other
    $19,980
    Hours/week
    35

  • Ramona Garcia

    TENANT SERVICE DIRECTOR

    Total calculated
    $120,202
    From this org
    $114,577
    From related orgs
    $0
    Other
    $5,625
    Hours/week
    35

  • Vanessa Fernandez

    LEASING DIRECTOR

    Total calculated
    $120,681
    From this org
    $114,981
    From related orgs
    $0
    Other
    $5,700
    Hours/week
    35

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

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202403109349302435

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