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Nonprofiteer
← WEBSTER TERRACE HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by WEBSTER TERRACE HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$235,834
Total expenses
$285,989
Contributions and grants received
$0
Grants paid
$125,000
Program service revenue
$0
Investment income
$235,834
Other revenue
$0
Total assets, end of year
$5,505,000
Total liabilities, end of year
$225,000
Net assets or fund balances, end of year
$5,280,000
Program services expenses (Part IX)
$280,649
Management and general expenses
$5,340
Fundraising expenses
$0
Program service expenses (Part III)
$280,649

Program services were 98.1% 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.

  • 3 · Investment income

    total $235,834 · excluded $235,834

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $125,000 · program services $125,000

  • 11c · Fees: accounting

    total $4,850 · management and general $4,850

  • 24a · Other expenses: SPONSOR LOW INCOME HOUS

    total $155,649 · program services $155,649

  • 24b · Other expenses: PERMITS & FEES

    total $250 · management and general $250

  • 24c · Other expenses: BANK CHARGES

    total $240 · management and general $240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $131,630 · end of year $122,554

  • 2 · Savings and temporary cash investments

    beginning of year $55,300 · end of year $57,722

  • 7 · Other notes and loans receivable

    beginning of year $5,243,225 · end of year $5,324,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,000 · end of year $225,000

  • 27 · Net assets without donor restrictions

    beginning of year $5,330,155 · end of year $5,280,000

Mission and programs · 2023

Mission

WEBSTER TERRACE HOUSING DEVELOPMENT FUND'S MISSION IS TO PROVIDE & OPERATE SUBSIDIZED MULTI-FAMILY HOUSING FOR LOW INCOME SENIORS.

Activities or mission (Part I)

PROVIDE HOUSING FOR LOW INCOME SENIOR CITIZENS.

  • ORGANIZATION SPONSORED AND SUPPORTED LOW INCOME HOUSING DEVELOPMENT

    Expenses $280,649 · Grants $125,000

As filed on the 2023 return.

Listed in Part VII

  • David Singer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Menachem Shayovich

    V.P./SECY

    Total calculated
    $0
    Hours/week
    0.5

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

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202521329349303347

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