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← HIGHBRIDGE COMMUNITY HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by HIGHBRIDGE COMMUNITY HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$10,272,483
Total expenses
$12,040,368
Contributions and grants received
$0
Grants paid
$162,408
Program service revenue
$10,087,080
Investment income
$185,403
Other revenue
$0
Total assets, end of year
$40,095,074
Total liabilities, end of year
$97,601,969
Net assets or fund balances, end of year
-$57,506,895
Program services expenses (Part IX)
$10,258,260
Management and general expenses
$1,782,108
Fundraising expenses
$0
Program service expenses (Part III)
$10,258,260

Program services were 85.2% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $9,494,136 · related or exempt $9,494,136

  • 2b · Program service revenue: MAINTENANCE MGMT

    total $541,368 · related or exempt $541,368

  • 2f · All other program service revenue

    total $51,576 · related or exempt $51,576

  • 3 · Investment income

    total $185,403 · excluded $185,403

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $162,408 · program services $162,408

  • 7 · Other salaries and wages

    total $2,355,719 · program services $1,820,813 · management and general $534,906

  • 9 · Other employee benefits

    total $994,605 · program services $915,500 · management and general $79,105

  • 10 · Payroll taxes

    total $171,988 · program services $118,443 · management and general $53,545

  • 11a · Fees: management

    total $732,307 · program services $732,307

  • 11b · Fees: legal

    total $82,189 · management and general $82,189

  • 11c · Fees: accounting

    total $71,496 · management and general $71,496

  • 11g · Fees: other

    total $574,919 · program services $434,376 · management and general $140,543

  • 13 · Office expenses

    total $378,093 · program services $240,450 · management and general $137,643

  • 16 · Occupancy

    total $3,975,455 · program services $3,975,455

  • 17 · Travel

    total $7,792 · program services $7,792

  • 20 · Interest

    total $646,764 · management and general $646,764

  • 22 · Depreciation, depletion and amortization

    total $326,661 · program services $326,661

  • 23 · Insurance

    total $1,161,324 · program services $1,161,324

  • 24a · Other expenses: SOCIAL SERVICE COSTS

    total $360,000 · program services $360,000

  • 24e · All other expenses

    total $38,648 · program services $2,731 · management and general $35,917

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $834,418 · end of year $963,406

  • 2 · Savings and temporary cash investments

    beginning of year $500,902 · end of year $505,251

  • 4 · Accounts receivable

    beginning of year $324,047 · end of year $556,448

  • 7 · Other notes and loans receivable

    beginning of year $19,388,344 · end of year $19,389,038

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,611,696 · end of year $1,726,483

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

    $80,387,627

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

    $66,221,649

  • 10c · Land, buildings and equipment, net

    beginning of year $13,198,407 · end of year $14,165,978

  • 13 · Investments: program-related

    beginning of year $30,100 · end of year $30,100

  • 15 · Other assets

    beginning of year $2,921,270 · end of year $2,758,370

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,078,341 · end of year $1,633,488

  • 23 · Secured mortgages and notes payable

    beginning of year $87,905,823 · end of year $88,520,103

  • 25 · Other liabilities

    beginning of year $4,560,669 · end of year $7,448,378

  • 27 · Net assets without donor restrictions

    beginning of year -$55,735,649 · end of year -$57,506,895

Mission and programs · 2024

Mission

PROVIDE LOW INCOME HOUSING IN HIGHBRIDGE SECTION OF BRONX, NY.

Activities or mission (Part I)

PROVIDE LOW INCOME HOUSING IN HIGHBRIDGE SECTION OF THE BRONX, NY.

  • HCHDFC OPERATED A 722-APARTMENT-UNIT PROJECT FOR HOMELESS, LOW-INCOME, AND MODERATE-INCOME FAMILIES IN THE BRONX, NEW YORK. THE ORGANIZATION ALSO ENGAGED IN THE DEVELOPMENT AND MARKETING OF TWO-FAMILY HOMES AND IS LEASING LAND FOR DEVELOPMENT IN THE BRONX, NEW YORK.

    Expenses $10,258,260 · Grants $162,408 · Revenue $10,087,080

As filed on the 2024 return.

Listed in Part VII

  • Msgr Donald Sakano

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Rev Mark Cregan

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kenneth P Browne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Revfrjose R Cruz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Rev Joseph Franco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Beatriz Diaz Taveras

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Rosanna Viera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kobina Arhin

    SVP/CEO

    Total calculated
    $321,228
    From this org
    $0
    From related orgs
    $311,847
    Other
    $9,381
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,847 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,381 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $321,228 related

  • Donna Smith

    CHIEF FINANCIAL OFFICER

    Total calculated
    $196,885
    From this org
    $0
    From related orgs
    $184,239
    Other
    $12,646
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,239 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,567 related
    Nontaxable benefits
    $0 + $7,079 related
    Filer's total
    $0 + $196,885 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

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

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 corporations and trusts

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

  • ST FRANCIS COMMONS HOUSING MM CORP

    C · LOW INCOME HOUSING · NY · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523189349303427

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