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← PROGRESS OF PEOPLES MANAGEMENT CORP

Form 990 for tax year 2022

Filed by PROGRESS OF PEOPLES MANAGEMENT CORP.

Totals

Total revenue
$4,886,229
Total expenses
$4,388,718
Contributions and grants received
$1,760,812
Grants paid
$1,760,812
Program service revenue
$3,002,394
Investment income
$89,947
Other revenue
$33,076
Total assets, end of year
$6,622,503
Total liabilities, end of year
$340,336
Net assets or fund balances, end of year
$6,282,167
Program services expenses (Part IX)
$4,282,385
Management and general expenses
$106,333
Fundraising expenses
$0
Program service expenses (Part III)
$4,282,385

Program services were 97.6% 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.

  • 1e · Government grants (contributions)

    $1,760,812

  • 2a · Program service revenue: MANAGEMENT FEE

    total $3,002,394 · related or exempt $3,002,394

  • 3 · Investment income

    total $89,947 · unrelated business $0 · excluded $89,947

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: WRITE-OFF ADJUSTMENT

    total $33,076 · excluded $33,076

  • 11e · Other revenue, total

    $33,076

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,760,812 · program services $1,760,812

  • 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 $741,070 · program services $741,070

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $138,896 · program services $138,896

  • 10 · Payroll taxes

    total $56,692 · program services $56,692

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $70,745 · management and general $70,745

  • 11c · Fees: accounting

    total $27,400 · management and general $27,400

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $40,044 · program services $31,856 · management and general $8,188

  • 12 · Advertising and promotion

    total $3,576 · program services $3,576

  • 13 · Office expenses

    total $30,961 · program services $30,961

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $133,930 · program services $133,930

  • 17 · Travel

    total $7,743 · program services $7,743

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $1,525 · program services $1,525

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,839 · program services $1,839

  • 23 · Insurance

    total $30,401 · program services $30,401

  • 24a · Other expenses: ADMINISTRATIVE EXPENSES

    total $1,234,343 · program services $1,234,343

  • 24b · Other expenses: BAD DEBTS

    total $108,741 · program services $108,741

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,453,412 · end of year $834,460

  • 2 · Savings and temporary cash investments

    beginning of year $816,187 · end of year $4,126,323

  • 3 · Pledges and grants receivable

    beginning of year $27,500 · end of year $299,991

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,550 · end of year $85,945

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

    $39,959

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

    $37,953

  • 10c · Land, buildings and equipment, net

    beginning of year $3,845 · end of year $2,006

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $573,570 · end of year $1,273,778

  • 17 · Accounts payable and accrued expenses

    beginning of year $183,408 · end of year $340,336

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,784,656 · end of year $6,282,167

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO PROVIDE MANAGEMENT AND OTHER RELATED SERVICES TO LOW-INCOME HOUSING PROJECTS IN BROOKLYN, NY.

Activities or mission (Part I)

TO PROVIDE MANAGEMENT & OTHER RELATED SERVICES TO LOW-INCOME HOUSING PROJECTS IN BROOKLYN, NY.

  • MANAGEMENT AND OPERATIONAL SERVICES SUCH AS CUSTODIAL SERVICES ARE PROVIDED TO LOW-INCOME HOUSING PROJECTS.

    Expenses $4,282,385 · Grants $1,760,812 · Revenue $3,002,394

As filed on the 2022 return.

Listed in Part VII

  • Emmie Glynn Ryan

    Exec. Sec/COS/Gen Counsel

    Total calculated
    $346,005
    From this org
    $0
    From related orgs
    $310,469
    Other
    $35,536
    Hours/week
    0.2 + 34.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,330 related
    Bonus
    $0
    Other
    $0 + $2,139 related
    Deferred
    $0 + $11,490 related
    Nontaxable benefits
    $0 + $24,046 related
    Filer's total
    $0 + $346,005 related

  • George Stathoidakis

    SENIOR VICE PRESIDENT

    Total calculated
    $259,895
    From this org
    $217,481
    From related orgs
    $0
    Other
    $42,414
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $213,586
    Bonus
    $0
    Other
    $3,895
    Deferred
    $3,000
    Nontaxable benefits
    $39,414
    Filer's total
    $259,895

  • Joanna Roselli

    CONTROLLER

    Total calculated
    $198,004
    From this org
    $170,029
    From related orgs
    $0
    Other
    $27,975
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $170,029
    Bonus
    $0
    Other
    $0
    Deferred
    $4,769
    Nontaxable benefits
    $23,206
    Filer's total
    $198,004

  • Sheena Williams

    DIR. OF OCCUPANCY & COMPLIANCE

    Total calculated
    $141,291
    From this org
    $118,839
    From related orgs
    $0
    Other
    $22,452
    Hours/week
    35

  • Perthina Pegus-Neptune

    DIRECTOR OF OPERATIONS

    Total calculated
    $128,394
    From this org
    $103,001
    From related orgs
    $0
    Other
    $25,393
    Hours/week
    35

  • Vincent Favata

    DIRECTOR OF OPERATIONS

    Total calculated
    $122,550
    From this org
    $106,611
    From related orgs
    $0
    Other
    $15,939
    Hours/week
    35

  • Very Rev Patrick Keating

    DEPUTY CEO/CFO

    Total calculated
    $46,500
    From this org
    $0
    From related orgs
    $45,000
    Other
    $1,500
    Hours/week
    0.2 + 34.8 related

  • Rev Msgr Alfred P Lopinto

    CEO

    Total calculated
    $43,500
    From this org
    $0
    From related orgs
    $37,000
    Other
    $6,500
    Hours/week
    0.2 + 34.8 related

  • Gail Duke

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • John Cantirino

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Nicholas Paolillo

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Thomas J Grech

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Daniel Greene

    DIRECTOR

    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. 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)

SCHEDULE J, PART I, LINE 3:
THE TOP MANAGEMENT OFFICIAL'S COMPENSATION WAS PAID BY A RELATED 501(C)(3) ORGANIZATION WHO USED ONE OR MORE OF THESE METHODS LISTED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION.
SCHEDULE J, PART II:
FOR INDIVIDUALS LISTED ON PART II, INCLUDED IN COLUMN B(III) IS TAXABLE AUTO ALLOWANCE IN ADDITION TO GROUP TERM LIFE INSURANCE.

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

  • Loretto II LLC

    $1,760,812

    Support

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.

  • 715 ST JOHN'S PLACE LP

    REAL ESTATE · NY

    Directly controlled by NA

  • 918 KENT AVENUE LP

    REAL ESTATE · NY

    Directly controlled by NA

  • BISHOP BOARDMAN SENIOR APARTMENTS INC

    REAL ESTATE · NY

    Directly controlled by NA

  • BISHOP FRANCIS J MUGAVERO SR APARTMENTS

    REAL ESTATE · NY

    Directly controlled by NA

  • CLASSON AVENUE LTD PARTNERSHIP

    REAL ESTATE · NY

    Directly controlled by NA

  • HOLY SPIRIT SENIOR APARTMENTS LP

    REAL ESTATE · NY

    Directly controlled by NA

  • MARY STAR OF THE SEA SENIOR APARTMENTS

    REAL ESTATE · NY

    Directly controlled by NA

  • MSGR EDWARD T BURKE SENIOR APARTMENTS

    REAL ESTATE · NY

    Directly controlled by NA

  • MSGR JOHN O'BRIEN SENIOR APARTMENTS LP

    REAL ESTATE · NY

    Directly controlled by NA

  • MSGR THOMAS CAMPBELL SENIOR APARTMENTS

    REAL ESTATE · NY

    Directly controlled by NA

  • POPE JOHN PAUL II SENIOR APARTMENTS LP

    REAL ESTATE · NY

    Directly controlled by NA

  • SR LUCIAN SENIOR APARTMENTS LP

    REAL ESTATE · NY

    Directly controlled by NA

  • ST BRENDAN'S SENIOR APARTMENTS LP

    REAL ESTATE · NY

    Directly controlled by NA

  • WILSON AVENUE LIMITED PARTNERSHIP

    REAL ESTATE · NY

    Directly controlled by NA

  • HOWARD BEACH APARTMENTS LLC

    REAL ESTATE · NY

    Directly controlled by NA

  • 55 PIERREPONT LLC

    REAL ESTATE · NY

    Directly controlled by NA

  • LORETO PRESERVATION LLC

    REAL ESTATE · NY

    Directly controlled by NA

  • CARING SUPPORTED HOUSING LLC

    REAL ESTATE · NY

    Directly controlled by NA

  • LORETO II LLC

    REAL ESTATE · NY

    Directly controlled by NA

  • SHERIDAN II LLC

    REAL ESTATE · NY

    Directly controlled by NA

Related corporations and trusts

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

  • BEDFORD SAINT JOHN'S ASSOCIATES INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • BISHOP BOARDMAN APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • BISHOP FRANCIS J MUGAVERO APARTMENTS

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • HOLY SPIRIT APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • JEFFERSON MELROSE ASSOCIATES INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • MARY STAR OF THE SEA APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • MSGR EDWARD T BURKE APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • MSGR JOHN P O'BRIEN APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • MSGR THOMAS CAMPBELL APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • POPE JOHN PAUL II APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • SR LUCIAN APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • ST BRENDAN'S APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • TAAFFE KENT ASSOCIATES INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • WILLOUGHBY CLASSON APARTMENTS INC

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • HOWARD BEACH HOUSING CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • 55 PIERREPONT APARTMENTS CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • OL LORETO HOUSING CORP

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • CARING SUPPORTED HSG MNG MBR CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • LORETO II MM CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • SHERIDAN II MM CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • VB CCPOPD HOUSING DEVELOPMENT FUND CORP

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

  • SHERIDAN II 25 CORPORATION

    C · REAL ESTATE · NY · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202431209349301428

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