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← MAIN-BEST HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by MAIN-BEST HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$251,666
Total expenses
$271,211
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$248,358
Investment income
$595
Other revenue
$2,713
Total assets, end of year
$331,007
Total liabilities, end of year
$10,607
Net assets or fund balances, end of year
$320,400
Program services expenses (Part IX)
$174,783
Management and general expenses
$96,428
Fundraising expenses
$0
Program service expenses (Part III)
$174,783

Program services were 64.4% 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 $248,358 · related or exempt $248,358

  • 3 · Investment income

    total $595 · excluded $595

  • 11a · Other revenue: LAUNDRY INCOME

    total $1,800 · excluded $1,800

  • 11b · Other revenue: MISCELLANEOUS

    total $913 · excluded $913

  • 11e · Other revenue, total

    $2,713

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $90,171 · program services $71,171 · management and general $19,000

  • 9 · Other employee benefits

    total $16,710 · program services $16,710

  • 10 · Payroll taxes

    total $8,408 · program services $6,636 · management and general $1,772

  • 11a · Fees: management

    total $19,776 · management and general $19,776

  • 11b · Fees: legal

    total $154 · management and general $154

  • 11c · Fees: accounting

    total $925 · management and general $925

  • 11g · Fees: other

    total $6,500 · management and general $6,500

  • 13 · Office expenses

    total $8,286 · management and general $8,286

  • 16 · Occupancy

    total $16,626 · program services $16,626

  • 22 · Depreciation, depletion and amortization

    total $22,908 · program services $22,908

  • 23 · Insurance

    total $12,945 · program services $12,945

  • 24a · Other expenses: BAD DEBTS

    total $38,503 · management and general $38,503

  • 24b · Other expenses: MAINTENANCE RENT-FREE U

    total $11,724 · program services $11,724

  • 24c · Other expenses: MAINTENANCE SUPPLIES

    total $5,553 · program services $5,553

  • 24d · Other expenses: GARBAGE & TRASH REMOVAL

    total $4,372 · program services $4,372

  • 24e · All other expenses

    total $7,650 · program services $6,138 · management and general $1,512

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,462 · end of year $1,518

  • 4 · Accounts receivable

    beginning of year $19,478 · end of year $5,480

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

    $426,438

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

    $236,526

  • 10c · Land, buildings and equipment, net

    beginning of year $210,709 · end of year $189,912

  • 15 · Other assets

    beginning of year $115,177 · end of year $134,097

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,876 · end of year $6,277

  • 25 · Other liabilities

    beginning of year $4,005 · end of year $4,330

  • 27 · Net assets without donor restrictions

    beginning of year $339,945 · end of year $320,400

Mission and programs · 2022

Mission

TO PROVIDE HOUSING FOR AGED OR HANDICAPPED PERSONS OF LOW INCOME.

  • MAIN-BEST HOUSING DEVELOPMENT FUND CO. WAS ESTABLISHED TO PROVIDE HOUSING FOR AGED OR HANDICAPPED PERSONS OF LOW INCOME AND OPERATES A 24 UNIT MULTI-FAMILY PROJECT IN BUFFALO, NEW YORK.

    Expenses $174,783 · Revenue $248,358

As filed on the 2022 return.

Listed in Part VII

  • Nathan Neuman

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Anthony M Giancola

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Christopher Kennedy

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Maria Callanan

    CHIEF FINANCIAL OFFICER

    Total calculated
    $75,613
    From this org
    $0
    From related orgs
    $67,166
    Other
    $8,447
    Hours/week
    2 + 40 related

  • Gigi Grizanti

    PRESIDENT & C.E.O.

    Total calculated
    $99,885
    From this org
    $0
    From related orgs
    $81,025
    Other
    $18,860
    Hours/week
    2 + 40 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.

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.

  • STRATFORD ARMS HOUSING LP

    RELATED · SUBSIDIZED HOUSING · NY

    Directly controlled by WNY VETERANS HOUSING COALITION

Provenance

Return type
form_990
Tax year
2022
Filed
8 March 2024
IRS schema version
2022v5.0
Source object
202410719349300216

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