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Nonprofiteer
← CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$8,617,821
Total expenses
$7,870,034
Contributions and grants received
$3,500,930
Grants paid
$0
Program service revenue
$5,113,324
Investment income
$3,567
Other revenue
$0
Total assets, end of year
$21,096,747
Total liabilities, end of year
$24,537,538
Net assets or fund balances, end of year
-$3,440,791
Program services expenses (Part IX)
$6,945,724
Management and general expenses
$924,310
Fundraising expenses
$0
Program service expenses (Part III)
$6,945,724

Program services were 88.3% 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)

    $5,000

  • 1f · All other contributions, gifts and grants

    $3,495,930

  • 2a · Program service revenue: RENTAL INCOME

    total $4,910,755 · related or exempt $4,910,755

  • 2b · Program service revenue: TENANT CHARGES

    total $202,569 · related or exempt $202,569

  • 3 · Investment income

    total $3,567 · excluded $3,567

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $162,931 · program services $162,931

  • 7 · Other salaries and wages

    total $1,933,288 · program services $1,478,440 · management and general $454,848

  • 8 · Pension plan contributions

    total $27,500 · program services $19,888 · management and general $7,612

  • 9 · Other employee benefits

    total $333,574 · program services $253,590 · management and general $79,984

  • 10 · Payroll taxes

    total $169,950 · program services $130,146 · management and general $39,804

  • 11b · Fees: legal

    total $17,795 · management and general $17,795

  • 11c · Fees: accounting

    total $29,004 · management and general $29,004

  • 11g · Fees: other

    total $104,130 · management and general $104,130

  • 12 · Advertising and promotion

    total $42,768 · management and general $42,768

  • 13 · Office expenses

    total $68,186 · management and general $68,186

  • 14 · Information technology

    total $21,243 · management and general $21,243

  • 16 · Occupancy

    total $418,171 · program services $418,171

  • 17 · Travel

    total $4,997 · management and general $4,997

  • 20 · Interest

    total $596,660 · program services $596,660

  • 22 · Depreciation, depletion and amortization

    total $932,950 · program services $932,950

  • 23 · Insurance

    total $490,116 · program services $477,000 · management and general $13,116

  • 24a · Other expenses: DIETARY FOOD COSTS

    total $1,607,950 · program services $1,607,950

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $752,375 · program services $752,375

  • 24c · Other expenses: SUPPLIES - ENRICHED LIV

    total $56,833 · program services $56,833

  • 24d · Other expenses: GROUP ACTIVITIES

    total $44,898 · program services $44,898

  • 24e · All other expenses

    total $54,715 · program services $13,892 · management and general $40,823

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,678 · end of year $8,049

  • 2 · Savings and temporary cash investments

    beginning of year $662,548 · end of year $442,693

  • 3 · Pledges and grants receivable

    beginning of year $823,645

  • 4 · Accounts receivable

    beginning of year $68,688 · end of year $88,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $332,225 · end of year $408,549

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

    $38,834,196

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

    $19,204,383

  • 10c · Land, buildings and equipment, net

    beginning of year $18,953,985 · end of year $19,629,813

  • 15 · Other assets

    beginning of year $378,330 · end of year $519,064

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,020,889 · end of year $634,776

  • 19 · Deferred revenue

    beginning of year $70,191 · end of year $73,000

  • 23 · Secured mortgages and notes payable

    beginning of year $23,492,746 · end of year $22,948,156

  • 25 · Other liabilities

    beginning of year $831,851 · end of year $881,606

  • 27 · Net assets without donor restrictions

    beginning of year -$4,188,578 · end of year -$3,440,791

Mission and programs · 2023

Mission

TO PROVIDE ENRICHED HOUSING TO OLDER ADULTS WITH QUALITY SUPPORTIVE SERVICES. WE ARE COMMITTED TO HELPING OUR RESIDENTS RETAIN THEIR INDEPENDENCE IN SAFE & COMFORTABLE SURROUNDINGS SO THEY CAN CELEBRATE THE EXPERIENCE OF AGING.

Activities or mission (Part I)

PROVIDES ENRICHED HOUSING TO OLDER ADULTS WITH QUALITY SUPPORTIVE SERVICES.

  • CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY OWNS AND OPERATES CARNEGIE EAST HOUSE, NEW YORK CITY'S PREMIER ENRICHED LIVING RESIDENCE FOR OLDER ADULTS WHO NEED ASSISTANCE WITH THEIR ACTIVITIES OF DAILY LIVING. CONVENIENTLY SITUATED ON MANHATTAN'S UPPER EAST SIDE, CARNEGIE EAST HOUSE SERVED APPROXIMATELY 84 RESIDENTS IN FY 24. OUR MISSION IS TO SUPPORT OUR RESIDENTS' PHYSICAL AND MENTAL HEALTH, EMPOWERING THEM TO EMBRACE AND CELEBRATE THE EXPERIENCE OF AGING. RESIDENTS BENEFIT FROM 3.5 HOURS OF PERSONAL CARE WEEKLY, THREE NUTRITIOUS DAILY MEALS SERVED IN AN ELEGANT DINING ROOM, MEDICATION MANAGEMENT SERVICES WHEN NEEDED, WEEKLY LAUNDRY AND HOUSEKEEPING, CASE MANAGEMENT SERVICES, AND AN EXTENSIVE CALENDAR OF ENGAGING ACTIVITIES AND PROGRAMS DESIGNED TO FOSTER SOCIAL CONNECTION AND INTELLECTUAL STIMULATION FROM MORNING TO EVENING.

    Expenses $6,945,724 · Revenue $5,113,324

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Fran Condon

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Beatrice Broadwater

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Patricia Kolb PhD

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jay Sherwood

    SECRETARY (THROUGH 10/23)

    Total calculated
    $0
    Hours/week
    2

  • Calvin Marshall Mew

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Andrew Bonzani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Christopher Savoglou

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William T Sullivan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Nicola Heryet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Walter L Larkin III

    DIRECTOR (THROUGH 4/23)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Steve P Morrows

    DIRECTOR (THROUGH 3/24)

    Total calculated
    $0
    Hours/week
    2

  • Joseph H Girven

    EXECUTIVE DIR.

    Total calculated
    $325,862
    From this org
    $150,000
    From related orgs
    $150,000
    Other
    $25,862
    Hours/week
    15 + 30 related

    Schedule J breakdown matched by us

    Base
    $150,000 + $150,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $5,000 + $5,000 related
    Nontaxable benefits
    $7,931 + $7,931 related
    Filer's total
    $162,931 + $162,931 related

  • Christeena Baksh

    COO

    Total calculated
    $170,363
    From this org
    $109,500
    From related orgs
    $0
    Other
    $60,863
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,500
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $38,363
    Filer's total
    $170,363

  • Helane Richards Peace

    DEVELOPMENT DIR.

    Total calculated
    $167,362
    From this org
    $75,750
    From related orgs
    $75,750
    Other
    $15,862
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $75,750 + $75,750 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,931 + $7,931 related
    Filer's total
    $83,681 + $83,681 related

  • David Peace

    OPERATIONS RISK MANAGER

    Total calculated
    $125,862
    From this org
    $11,000
    From related orgs
    $99,000
    Other
    $15,862
    Hours/week
    4 + 36 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 February 2025
IRS schema version
2023v6.0
Source object
202540369349300524

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