Form 990 for tax year 2023
Filed by 50TH STREET HOUSING DEVELOPMENT FUND CORPORATION.
Totals
- Total revenue
- $474,550
- Total expenses
- $522,654
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $467,584
- Investment income
- $51
- Other revenue
- $6,915
- Total assets, end of year
- $6,352,055
- Total liabilities, end of year
- $7,125,224
- Net assets or fund balances, end of year
- -$773,169
- Program services expenses (Part IX)
- $402,547
- Management and general expenses
- $120,107
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $402,547
Program services were 77.0% 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 $467,584 · related or exempt $467,584
-
3 · Investment income
total $51 · excluded $51
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: REIMBURSEMENTS
total $6,915 · related or exempt $6,915
-
11e · Other revenue, total
$6,915
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $3,488 · management and general $3,488
-
11c · Fees: accounting
total $7,500 · management and general $7,500
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,752 · management and general $1,752
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $645 · program services $645
-
21 · Payments to affiliates
total $120,713 · program services $83,514 · management and general $37,199
-
22 · Depreciation, depletion and amortization
total $122,273 · program services $122,273
-
23 · Insurance
total $65,833 · management and general $65,833
-
24a · Other expenses: HEATING COSTS
total $88,595 · program services $88,595
-
24b · Other expenses: REPAIRS & MAINTENANCE
total $56,797 · program services $56,797
-
24c · Other expenses: WATER & SEWER
total $18,173 · program services $18,173
-
24d · Other expenses: ELECTRICITY
total $16,100 · program services $16,100
-
24e · All other expenses
total $20,785 · program services $16,450 · management and general $4,335
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $571,423 · end of year $562,722
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $27,571 · end of year $37,509
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $20,573 · end of year $64,173
-
10a · Land, buildings and equipment: cost or other basis
$7,785,047
-
10b · Land, buildings and equipment: accumulated depreciation
$2,154,227
-
10c · Land, buildings and equipment, net
beginning of year $2,922,412 · end of year $5,630,820
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $55,915 · end of year $56,831
-
17 · Accounts payable and accrued expenses
beginning of year $62,690 · end of year $66,876
-
19 · Deferred revenue
beginning of year $4,991 · end of year $10,775
-
23 · Secured mortgages and notes payable
beginning of year $4,234,560 · end of year $6,622,248
-
25 · Other liabilities
beginning of year $20,718 · end of year $425,325
-
27 · Net assets without donor restrictions
beginning of year -$725,065 · end of year -$773,169
Mission and programs · 2023
Mission
THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE TWO APARTMENT BUILDINGS AND PROVIDE SOCIAL SERVICES TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA.
-
THE ORGANIZATION'S APARTMENT BUILDINGS HAVE A CAPACITY OF 48 APARTMENTS WHICH WERE APPROXIMATELY 80% OCCUPPIED DURING THE YEAR.
Expenses $402,547
As filed on the 2023 return.
Listed in Part VII
-
Jessica YeagerJESSICA YEAGER
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Michelle De La UzMICHELLE DE LA UZ
Secretary
- Total calculated
- $0
- Hours/week
- 0.5 + 34.5 related
-
Dany CunninghamDANY CUNNINGHAM
President
- Total calculated
- $0
- Hours/week
- 1
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.
-
501(c)(3) · TO ADVANCE SOCIAL AND ECONOMIC JUSTICE · NY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 February 2024
- IRS schema version
- 2023v5.0
- Source object
- 202431159349300903
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