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← HOLLAND HOTEL HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by HOLLAND HOTEL HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$4,511,880
Total expenses
$6,909,162
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,240,252
Investment income
$1,768
Other revenue
$269,860
Total assets, end of year
$31,155,680
Total liabilities, end of year
$67,693,480
Net assets or fund balances, end of year
-$36,537,800
Program services expenses (Part IX)
$6,569,942
Management and general expenses
$339,220
Fundraising expenses
$0
Program service expenses (Part III)
$6,569,942

Program services were 95.1% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $4,240,252 · related or exempt $4,240,252

  • 3 · Investment income

    total $1,768 · excluded $1,768

  • 6a · Gross rents

    real property $219,250

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $219,250

  • 6d · Net rental income or loss

    total $219,250 · excluded $219,250

  • 11a · Other revenue: INSURANCE PROCEEDS

    total $30,294 · related or exempt $30,294

  • 11d · All other revenue

    total $20,316 · related or exempt $20,316

  • 11e · Other revenue, total

    $50,610

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,117,650 · program services $778,430 · management and general $339,220

  • 11b · Fees: legal

    total $172,024 · program services $172,024

  • 11c · Fees: accounting

    total $18,184 · program services $18,184

  • 11g · Fees: other

    total $5,007 · program services $5,007

  • 13 · Office expenses

    total $82,525 · program services $82,525

  • 16 · Occupancy

    total $427,651 · program services $427,651

  • 20 · Interest

    total $2,750,306 · program services $2,750,306

  • 22 · Depreciation, depletion and amortization

    total $1,076,040 · program services $1,076,040

  • 23 · Insurance

    total $494,751 · program services $494,751

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $607,785 · program services $607,785

  • 24b · Other expenses: BAD DEBTS

    total $84,863 · program services $84,863

  • 24c · Other expenses: REAL ESTATE TAXES

    total $72,376 · program services $72,376

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $20,123

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $1,072,061

  • 4 · Accounts receivable

    beginning of year $0 · end of year $549,451

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

    $36,174,415

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

    $7,698,171

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $28,476,244

  • 15 · Other assets

    beginning of year $0 · end of year $1,037,801

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $1,214,625

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $53,544

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $65,890,704

  • 25 · Other liabilities

    beginning of year $0 · end of year $534,607

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year -$36,537,800

Mission and programs · 2024

Mission

ORIGINALLY CONSTRUCTED IN 1918, GEFFNER HOUSE IS A CONVERTED HOTEL THAT PROJECT RENEWAL PURCHASED FROM THE CITY IN 1996. TODAY, IT IS A 305 UNIT SUPPORTIVE HOUSING BUILDING THAT PROVIDES PERMANENT HOUSING FOR ADULTS WITH LOW INCOME, INCLUDING PEOPLE WITH SERIOUS AND PERSISTENT MENTAL ILLNESS, INDIVIDUALS WHO ARE RECOVERING FROM DRUG OR ALCOHOL ADDICTION, AND PEOPLE WHO ARE LIVING WITH HIV/AIDS.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING IN NEW YORK.

  • TO OWN, REHABILITATE, MANAGE, LEASE, MAINTAIN, DEVELOP AND OPERATE A HOUSING PROJECT FOR PERSONS OF LOW-INCOME LOCATED IN NEW YORK, NEW YORK. THE HOUSING PROJECT CONSISTS OF 307 SINGLE-ROOM UNITS, OPERATING UNDER THE NAME THE HOLLAND HOUSE (THE "PROJECT") AND IS ALSO KNOWN AS THE GEFFNER HOUSE.

    Expenses $6,569,942 · Revenue $4,290,862

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eric Rosenbaum

    PRESIDENT / CEO

    Total calculated
    $405,937
    From this org
    $0
    From related orgs
    $367,634
    Other
    $38,303
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $365,348 related
    Bonus
    $0
    Other
    $0 + $2,286 related
    Deferred
    $0 + $8,034 related
    Nontaxable benefits
    $0 + $30,269 related
    Filer's total
    $0 + $405,937 related

  • Gail Weess

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Gerard Joseph

    TREASURER

    Total calculated
    $138,416
    From this org
    $0
    From related orgs
    $138,416
    Other
    $0
    Hours/week
    1 + 42 related

  • James Davidson

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Michael Doherty

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Paul Woody

    SECRETARY

    Total calculated
    $263,700
    From this org
    $0
    From related orgs
    $215,660
    Other
    $48,040
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $215,480 related
    Bonus
    $0
    Other
    $0 + $180 related
    Deferred
    $0 + $5,417 related
    Nontaxable benefits
    $0 + $42,623 related
    Filer's total
    $0 + $263,700 related

  • Steven Jones

    TREASURER

    Total calculated
    $284,808
    From this org
    $0
    From related orgs
    $264,695
    Other
    $20,113
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,377 related
    Bonus
    $0
    Other
    $0 + $1,318 related
    Deferred
    $0 + $6,200 related
    Nontaxable benefits
    $0 + $13,913 related
    Filer's total
    $0 + $284,808 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
OFFICER COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE PARENT ORGANIZATION PROJECT RENEWAL INC. THE COMPENSATION COMMITTEE USES INFORMATION FROM AND INDEPENDENT COMPENSATION CONSULTANT AS WELL 990S OF SIMILAR ORGANIZATIONS IN DETERMINING APPROPRIATE COMPENSATION.

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.

  • 141 NICHOLAS HDFC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • 161 LEXINGTON HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • 2880 JEROME AVE HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • BRONX BOULEVARD HDFC

    501(C)(4) · PROVIDING HOUSING FOR MEN WITH MENTAL ILLNESS · NY

    Directly controlled by PROJECT RENEWAL INC

  • GREENPOINT HOSPITAL SHELTER HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • MANHATTAN BOWERY MANAGEMENT CORPORATION

    501(C)(3) · PROVIDE JOB TRAINING AND REHABILITATION FOR FORMER ALCOHOLICS · NY

    Directly controlled by PROJECT RENEWAL FUND INC

  • NEW PROVIDENCE SHELTER HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • NEW PROVIDENCE SUPPORTIVE HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

  • NORTH STAR HOUSING INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL FUND INC

  • PRI HEALTHCARE INC

    501(C)(3) · PROVIDING A TREATMENT CENTER · NY

    Directly controlled by PROJECT RENEWAL FUND INC

  • PROJECT RENEWAL FUND INC

    501(C)(3) · PROVIDING SERVICES TO HOMELESS AND FORMERLY HOMELESS · NY

  • PROJECT RENEWAL INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

  • W 59TH SHELTER HDFC

    501(C)(4) · PROVIDE AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS · NY

    Directly controlled by PROJECT RENEWAL INC

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.

  • 10 MINERVA PLACE LP

    OPERATING THE MINERVA PLACE PROJECT FOR LOW INCOME TENANTS · NY · general or managing partner

  • 2880 JEROME AVE LP

    OPERATING THE 2880 JEROME PROJECT FOR LOW INCOME TENANTS · NY · general or managing partner

  • PRI VILLA AVENUE LP

    OPERATING THE VILLA AVENUE PROJECT FOR LOW INCOME TENANTS · NY · general or managing partner

  • WASHINGTON FLETCHER OMH LP

    OPERATING THE WASHINGTON AVENUE PROJECT FOR LOW INCOME TENANTS · NY · general or managing partner

Related corporations and trusts

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

  • 10 MINERVA PLACE GP

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • 10 MINERVA PLACE HDFC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • 2880 JEROME AVE GP INC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • PRI VILLA AVENUE GP INC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • PRI VILLA AVENUE HDFC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • PROJECT RENEWAL HDFC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • PROJECT RENEWAL VILLA AVENUE GP

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • ST NICHOLAS HOUSE GP CORP

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • STARTING HOMES INC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • VILLA RENEWAL INC

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

  • WASHINGTON FLETCHER OMH CORPORATION

    C · OPERATING A LOW INCOME HOUSING PROJECT · NY

Provenance

Return type
form_990
Tax year
2024
Filed
27 April 2026
IRS schema version
2024v5.5
Source object
202621199349302802

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