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Nonprofiteer
← BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$292,212
Total expenses
$328,727
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$274,071
Investment income
$466
Other revenue
$17,675
Total assets, end of year
$2,067,957
Total liabilities, end of year
$2,599,333
Net assets or fund balances, end of year
-$531,376
Program services expenses (Part IX)
$318,308
Management and general expenses
$10,419
Fundraising expenses
$0
Program service expenses (Part III)
$318,308

Program services were 96.8% 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.

  • 2a · Program service revenue: HUD TENANT ASSISTANCE

    total $196,931 · related or exempt $196,931

  • 2b · Program service revenue: RENTAL INCOME

    total $77,140 · related or exempt $77,140

  • 3 · Investment income

    total $466 · excluded $466

  • 11a · Other revenue: GIFTS

    total $11,058 · related or exempt $11,058

  • 11b · Other revenue: MISCELLANEOUS

    total $4,427 · related or exempt $4,427

  • 11c · Other revenue: LAUNDRY & VENDING

    total $1,255 · related or exempt $1,255

  • 11d · All other revenue

    total $935 · related or exempt $935

  • 11e · Other revenue, total

    $17,675

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $41,162 · program services $41,162

  • 9 · Other employee benefits

    total $4,856 · program services $4,856

  • 10 · Payroll taxes

    total $2,313 · program services $2,313

  • 11a · Fees: management

    total $14,867 · program services $14,867

  • 11c · Fees: accounting

    total $9,025 · management and general $9,025

  • 12 · Advertising and promotion

    total $806 · management and general $806

  • 13 · Office expenses

    total $22,709 · program services $22,709

  • 20 · Interest

    total $59,030 · program services $59,030

  • 22 · Depreciation, depletion and amortization

    total $50,961 · program services $50,961

  • 23 · Insurance

    total $16,999 · program services $16,999

  • 24a · Other expenses: UTILITIES

    total $31,582 · program services $31,582

  • 24b · Other expenses: CONTRACTED SERVICES

    total $23,909 · program services $23,909

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $20,144 · program services $20,144

  • 24d · Other expenses: CABLE EXPENSE

    total $15,304 · program services $15,304

  • 24e · All other expenses

    total $15,060 · program services $14,472 · management and general $588

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,586 · end of year $91

  • 2 · Savings and temporary cash investments

    beginning of year $841,958 · end of year $254,343

  • 4 · Accounts receivable

    beginning of year $18,563 · end of year $5,108

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,491 · end of year $1,474

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

    $3,669,808

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

    $1,869,691

  • 10c · Land, buildings and equipment, net

    beginning of year $1,302,035 · end of year $1,800,117

  • 15 · Other assets

    beginning of year $5,612 · end of year $6,824

  • 17 · Accounts payable and accrued expenses

    beginning of year $79,882 · end of year $76,601

  • 19 · Deferred revenue

    beginning of year $1,037 · end of year $2,776

  • 21 · Escrow or custodial account liability

    beginning of year $5,612 · end of year $6,824

  • 23 · Secured mortgages and notes payable

    beginning of year $2,580,575 · end of year $2,513,132

  • 27 · Net assets without donor restrictions

    beginning of year -$494,861 · end of year -$531,376

Mission and programs · 2022

Mission

BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY, INC. WAS FORMED TO DEVELOP ON A NONPROFIT BASIS A HOUSING PROJECT FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS.

Activities or mission (Part I)

BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY, INC WAS FORMED TO DEVELOP ON A NONPROFIT BASIS A HOUSING PROJECT FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS.

  • OPERATED AN APARTMENT COMPLEX OF 32 UNITS FOR ELDERLY OR HANDICAPPED RESIDENTS UNDER SECTION 202 OF THE HOUSING ACT OF 1959 ACCOUNTABLE TO THE U.S. DEPARTMENT OF HUD.

    Expenses $318,308 · Revenue $291,746

As filed on the 2022 return.

Listed in Part VII

  • Michael D Riegel

    BOARD MEMBER/BOARD PRESIDE

    Total calculated
    $214,003
    From this org
    $0
    From related orgs
    $191,328
    Other
    $22,675
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,328 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,943 related
    Nontaxable benefits
    $0 + $15,732 related
    Filer's total
    $0 + $214,003 related

  • Pamela Berger

    BOARD MEMBER/BOARD VP/TREA

    Total calculated
    $140,324
    From this org
    $0
    From related orgs
    $127,848
    Other
    $12,476
    Hours/week
    0.5 + 34.5 related

  • Brad Packard

    BOARD MEMBER/BOARD VP/SECR

    Total calculated
    $156,928
    From this org
    $0
    From related orgs
    $149,427
    Other
    $7,501
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,427 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,501 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $156,928 related

  • Joyelle Tedeschi

    BOARD MEMBER

    Total calculated
    $132,836
    From this org
    $0
    From related orgs
    $119,775
    Other
    $13,061
    Hours/week
    0.5 + 34.5 related

  • Aaron Hejmowski

    CFO

    Total calculated
    $161,299
    From this org
    $0
    From related orgs
    $138,293
    Other
    $23,006
    Hours/week
    1 + 34 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
ALL EMPLOYEES ARE PAID BY BELMONT HOUSING RESOURCES FOR WNY, INC., A RELATED ENTITY. 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 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.

  • ALBERTA PLACE LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ALBERTA PLACE MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ARTSPACE AFFORDABLE HOUSING LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • BELLAMY COMMONS LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • BELMONT ARTSPACE LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • CAMBRIA COMMONS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • COLONY RUN TOWNHOUSES LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • EAST SIDE HOUSING LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ELIM TOWNHOMES MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ELIM TOWNHOMES LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • LANCASTER LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • SHAWNEE LANDING TOWNHOUSES LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • SOUTHWIND LANDING APARTMENTS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • TRUE BETHEL TOWNHOMES MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • TRUE BETHEL TOWNHOMES LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • WOODLAND PLACE APARTMENTS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

Related corporations and trusts

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

  • ATTICA COLONY INC

    C · PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • WOODLAND GENERAL INC

    C · PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303199349305645

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