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← E REYES APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by E REYES APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$742,388
Total expenses
$820,658
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$685,765
Investment income
$3,280
Other revenue
$53,343
Total assets, end of year
$2,361,742
Total liabilities, end of year
$3,145,802
Net assets or fund balances, end of year
-$784,060
Program services expenses (Part IX)
$760,369
Management and general expenses
$60,289
Fundraising expenses
$0
Program service expenses (Part III)
$760,369

Program services were 92.7% 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 $685,765 · related or exempt $685,765

  • 3 · Investment income

    total $3,280 · excluded $3,280

  • 6a · Gross rents

    real property $17,424

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $17,424

  • 6d · Net rental income or loss

    total $17,424 · excluded $17,424

  • 11d · All other revenue

    total $35,919 · related or exempt $35,919

  • 11e · Other revenue, total

    $35,919

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $50,104 · management and general $50,104

  • 11b · Fees: legal

    total $9,813 · program services $9,813

  • 11c · Fees: accounting

    total $13,125 · program services $2,940 · management and general $10,185

  • 11g · Fees: other

    total $12,963 · program services $12,963

  • 13 · Office expenses

    total $3,994 · program services $3,994

  • 16 · Occupancy

    total $145,705 · program services $145,705

  • 20 · Interest

    total $31,998 · program services $31,998

  • 22 · Depreciation, depletion and amortization

    total $110,312 · program services $110,312

  • 23 · Insurance

    total $55,414 · program services $55,414

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $239,503 · program services $239,503

  • 24b · Other expenses: BAD DEBTS

    total $67,999 · program services $67,999

  • 24c · Other expenses: SOCIAL SERVICE

    total $55,713 · program services $55,713

  • 24d · Other expenses: MORTGAGE SERVICE FEE

    total $6,463 · program services $6,463

  • 24e · All other expenses

    total $17,552 · program services $17,552

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $412,991 · end of year $329,971

  • 2 · Savings and temporary cash investments

    beginning of year $781,671 · end of year $832,272

  • 4 · Accounts receivable

    beginning of year $53,441 · end of year $32,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,358 · end of year $8,501

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

    $4,777,248

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

    $3,681,486

  • 10c · Land, buildings and equipment, net

    beginning of year $1,119,077 · end of year $1,095,762

  • 15 · Other assets

    beginning of year $59,730 · end of year $63,235

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,484 · end of year $56,430

  • 23 · Secured mortgages and notes payable

    beginning of year $3,028,228 · end of year $3,028,228

  • 25 · Other liabilities

    beginning of year $70,346 · end of year $61,144

  • 27 · Net assets without donor restrictions

    beginning of year -$705,790 · end of year -$784,060

Mission and programs · 2022

Mission

ORGANIZED EXCLUSIVELY TO OWN, REHABILITATE, MANAGE, LEASE, MAINTAIN DEVELOP AND OPERATE HOUSING PROJECT FOR PERSONS OF LOW INCOME.

  • OPERATING LOW-INCOME HOUSING - 47 APARTMETNS AND 4 COMMERCIAL SPACES.

    Expenses $760,369 · Revenue $721,684

As filed on the 2022 return.

Listed in Part VII

  • ANNETTE ROSADO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • CASSANDRA ACEVEDO

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • DAMARIS REYES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • DAVID LOPEZ

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • GLADYS OGANDO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • ISRAEL ROSARIO

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • MAISHA MORALES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • MARIA OCASIO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • MARTIN NEEDLEMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • RAY NARVAEZ

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • RICARDO MOLINA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • WILFREDO VARGAS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • JOE PACHECO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • JIM O'SHEA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • YOWALKZ ROSARIO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 4.5 related

  • JUAN RAMOS

    EXECUTIVE DIRECTOR

    Total calculated
    $156,703
    From this org
    $0
    From related orgs
    $140,848
    Other
    $15,855
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,848 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,855 related
    Filer's total
    $0 + $156,703 related

  • LENETTE BERRIOS

    FINANCE DIRECTOR

    Total calculated
    $147,449
    From this org
    $0
    From related orgs
    $131,594
    Other
    $15,855
    Hours/week
    0.5 + 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. 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

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349323010

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