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Nonprofiteer
← BROCTON HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by BROCTON HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$373,760
Total expenses
$384,027
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$354,265
Investment income
$1,342
Other revenue
$18,153
Total assets, end of year
$659,709
Total liabilities, end of year
$1,283,093
Net assets or fund balances, end of year
-$623,384
Program services expenses (Part IX)
$363,199
Management and general expenses
$20,828
Fundraising expenses
$0
Program service expenses (Part III)
$363,199

Program services were 94.6% 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: HUD TENANT ASSISTANCE

    total $181,846 · related or exempt $181,846

  • 2b · Program service revenue: TENANT RENTAL PAYMENTS

    total $172,419 · related or exempt $172,419

  • 3 · Investment income

    total $1,342 · excluded $1,342

  • 11a · Other revenue: SERVICE COORDINATOR RE

    total $12,094 · related or exempt $12,094

  • 11b · Other revenue: LAUNDRY INCOME

    total $3,855 · related or exempt $3,855

  • 11c · Other revenue: MISCELLANEOUS REVENUE

    total $1,954 · related or exempt $1,954

  • 11d · All other revenue

    total $250 · related or exempt $250

  • 11e · Other revenue, total

    $18,153

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $63,852 · program services $63,852

  • 9 · Other employee benefits

    total $10,866 · program services $10,866

  • 10 · Payroll taxes

    total $5,114 · program services $5,114

  • 11a · Fees: management

    total $24,175 · program services $24,175

  • 11c · Fees: accounting

    total $16,258 · management and general $16,258

  • 12 · Advertising and promotion

    total $7,462 · program services $7,462

  • 13 · Office expenses

    total $5,255 · program services $5,255

  • 20 · Interest

    total $58,374 · program services $58,374

  • 22 · Depreciation, depletion and amortization

    total $61,350 · program services $61,350

  • 23 · Insurance

    total $28,615 · program services $28,615

  • 24a · Other expenses: CONTRACTED SERVICES

    total $47,425 · program services $47,425

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $16,027 · program services $16,027

  • 24c · Other expenses: UTILITIES

    total $15,516 · program services $15,516

  • 24d · Other expenses: SERVICE COORDINATOR

    total $12,989 · program services $12,989

  • 24e · All other expenses

    total $10,749 · program services $6,179 · management and general $4,570

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,208 · end of year $32,400

  • 4 · Accounts receivable

    beginning of year $10,917 · end of year $11,070

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,904 · end of year $23,795

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

    $2,089,636

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

    $1,823,646

  • 10c · Land, buildings and equipment, net

    beginning of year $324,493 · end of year $265,990

  • 15 · Other assets

    beginning of year $319,301 · end of year $326,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,537 · end of year $15,332

  • 19 · Deferred revenue

    beginning of year $2,234 · end of year $1,521

  • 21 · Escrow or custodial account liability

    beginning of year $15,455 · end of year $15,550

  • 23 · Secured mortgages and notes payable

    beginning of year $1,287,099 · end of year $1,250,314

  • 25 · Other liabilities

    beginning of year $3,615 · end of year $376

  • 27 · Net assets without donor restrictions

    beginning of year -$613,117 · end of year -$623,384

Mission and programs · 2022

Mission

THE COMPANY WAS ORGANIZED EXCLUSIVELY TO DEVELOP AND OPERATE A 42 UNIT MULTI-FAMILY APARTMENT COMPLEX FOR LOW-INCOME PERSONS IN BROCTON, NEW YORK.

  • TO PROVIDE SUBSIDIZED HOUSING FOR ELDERLY PERSONS OF LOW INCOME.

    Expenses $363,199 · Revenue $372,418

As filed on the 2022 return.

Listed in Part VII

  • JUDITH SCOTT

    BOARD MEMBER/PRESIDENT

    Total calculated
    $98,163
    From this org
    $0
    From related orgs
    $87,069
    Other
    $11,094
    Hours/week
    0.5 + 0.5 related

  • HELEN RONAN

    BOARD MEMBER/SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • JOSHUA FREIFELD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ELIZABETH HUCKABONE

    BOARD MEMBER/VP (TERMED 9/26/23)

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • AARON HEJMOWSKI

    CFO

    Total calculated
    $161,299
    From this org
    $0
    From related orgs
    $138,293
    Other
    $23,006
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,293 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,274 related
    Nontaxable benefits
    $0 + $15,732 related
    Filer's total
    $0 + $161,299 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

The filer's explanations (Part III)

PART I, LINE 3
THE FILING ORGANIZATION HAS NO EMPLOYEES. ALL DAY TO DAY OPERATIONS ARE PERFORMED BY THE STAFF OF A RELATED ENTITY, BELMONT HOUSING RESOURCES FOR WNY, INC. BELMONT'S COMPENSATION PROGRAM IS DEVELOPED BY SENIOR MANAGEMENT, THE HUMAN RESOURCES MANAGER, AND AN EMPLOYEE BENEFITS AND COMPENSATION CONSULTING FIRM, AND REVIEWED BY THE HR AND COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THIS COMPENSATION PROGRAM APPLIES TO ALL STAFF, INCLUDING OFFICERS. IN ADDITION, ALL COMPENSATION OF THE OFFICERS IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION PROGRAM INCLUDED MARKET PRICING AND JOB SLOTTING WITHIN ESTABLISHED SALARY GRADES AND RANGES BASED ON INFORMATION PROVIDED BY THE INDEPENDENT CONSULTING FIRM.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
2 August 2024
IRS schema version
2022v5.0
Source object
202442219349300719

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