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Nonprofiteer
← GRAND STREET NORTHWEST INC

Form 990 for tax year 2023

Filed by GRAND STREET NORTHWEST INC.

Totals

Total revenue
$9,638,708
Total expenses
$3,752,817
Contributions and grants received
$5,754,000
Grants paid
$823,203
Program service revenue
$3,107,685
Investment income
$777,023
Other revenue
$0
Total assets, end of year
$126,417,633
Total liabilities, end of year
$14,572,623
Net assets or fund balances, end of year
$111,845,010
Program services expenses (Part IX)
$2,769,453
Management and general expenses
$983,364
Fundraising expenses
$0
Program service expenses (Part III)
$2,769,453

Program services were 73.8% 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

    $5,750,000

  • 1f · All other contributions, gifts and grants

    $4,000

  • 2a · Program service revenue: DEVELOPMENT FEE INCOME

    total $2,264,000 · related or exempt $2,264,000

  • 2b · Program service revenue: PROGRAM LOAN INTEREST

    total $843,685 · related or exempt $843,685

  • 3 · Investment income

    total $2,834,775 · excluded $2,834,775

  • 7a · Gross sales of assets other than inventory

    securities $33,050,496

  • 7b · Less cost or other basis and sales expenses

    securities $35,108,248

  • 7c · Gain or loss

    securities -$2,057,752

  • 7d · Net gain or loss

    total -$2,057,752 · excluded -$2,057,752

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $823,203 · program services $823,203

  • 11b · Fees: legal

    total $255,219 · program services $155,451 · management and general $99,768

  • 11c · Fees: accounting

    total $69,175 · management and general $69,175

  • 11f · Fees: investment management

    total $116,428 · program services $116,428

  • 11g · Fees: other

    total $863,990 · program services $863,990

  • 13 · Office expenses

    total $1,448 · management and general $1,448

  • 17 · Travel

    total $1,536 · management and general $1,536

  • 20 · Interest

    total $751,495 · management and general $751,495

  • 23 · Insurance

    total $27,472 · management and general $27,472

  • 24a · Other expenses: OTHER AFFORDABLE HOUSIN

    total $527,995 · program services $527,995

  • 24b · Other expenses: FOOD PANTRY AND OTHER P

    total $282,386 · program services $282,386

  • 24e · All other expenses

    total $32,470 · management and general $32,470

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,157,672 · end of year $280,808

  • 2 · Savings and temporary cash investments

    end of year $2,412,080

  • 7 · Other notes and loans receivable

    beginning of year $17,232,502 · end of year $21,086,293

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,100 · end of year $71,905

  • 11 · Investments: publicly traded securities

    beginning of year $90,040,150 · end of year $93,291,453

  • 15 · Other assets

    beginning of year $5,540,767 · end of year $9,275,094

  • 17 · Accounts payable and accrued expenses

    beginning of year $436,002 · end of year $151,499

  • 19 · Deferred revenue

    beginning of year $1,559,801 · end of year $2,031,826

  • 23 · Secured mortgages and notes payable

    beginning of year $15,710,205 · end of year $12,346,098

  • 25 · Other liabilities

    beginning of year $0 · end of year $43,200

  • 27 · Net assets without donor restrictions

    beginning of year $98,300,183 · end of year $111,845,010

Mission and programs · 2023

Mission

TO PROVIDE HOUSING AND RELATED FACILITIES AND SOCIAL SERVICES PROGRAMS TO THE BROADEST RANGE OF LOW AND MODERATE INCOME PERSONS, ELDERLY PERSONS, AND HANDICAPPED PERSONS IN NEED ON A NONPROFIT BASIS WITHOUT REGARD TO RACE, CREED, SEX OR NATIONAL ORIGIN.

Activities or mission (Part I)

TO PROVIDE HOUSING AND RELATED FACILITIES AND SOCIAL SERVICES PROGRAMS TO LOW/MODERATE INCOME, ELDERLY, AND HANDICAPPED PERSONS.

  • THE ORGANIZATION CONSTRUCTS, DEVELOPS, AND OPERATES APARTMENT COMPLEXES FOR LOW AND MODERATE INCOME PERSONS, HANDICAPPED PERSONS, AND ELDERLY PERSONS AND FUNDS SOCIAL SERVICES PROGRAMS FOR SUCH FACILITIES. THE ORGANIZATION ALSO SUPPORTS OTHER ORGANIZATIONS ENGAGED IN SUCH ACTIVITIES, PRIMARILY THROUGH LENDING MONEY TO SUCH PROJECTS.

    Expenses $2,769,453 · Grants $823,203 · Revenue $3,107,685

As filed on the 2023 return.

Listed in Part VII

  • Kevin Cronin

    DIRECTOR / PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Msgr Kevin Nelan

    DIRECTOR / SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Rev Edward Byrne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Alicia Carmona

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Stan Greyson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • George Horton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CLINTON BROOME DEVELOPMENT LLC

    PLANNING, DEVELOPMENT, OPERATION, AND OWNERSHIP OF AFFORDABLE HOUSING · NY · income $9,384,708 · assets $126,244,021

    Directly controlled by GRAND STREET NORTHWEST INC

Provenance

Return type
form_990
Tax year
2023
Filed
17 October 2024
IRS schema version
2023v5.1
Source object
202412959349301906

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