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Nonprofiteer
← SOUTHWEST 141 STREET HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by SOUTHWEST 141 STREET HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$1,835,666
Total expenses
$2,176,169
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,817,581
Investment income
$18,085
Other revenue
$0
Total assets, end of year
$7,306,358
Total liabilities, end of year
$12,914,420
Net assets or fund balances, end of year
-$5,608,062
Program services expenses (Part IX)
$2,015,312
Management and general expenses
$160,857
Fundraising expenses
$0
Program service expenses (Part III)
$2,015,312

Program services were 92.6% 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 REVENUE

    total $1,817,581 · related or exempt $1,817,581

  • 3 · Investment income

    total $18,085 · excluded $18,085

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $191,023 · program services $140,906 · management and general $50,117

  • 8 · Pension plan contributions

    total $2,108 · program services $2,108

  • 9 · Other employee benefits

    total $69,012 · program services $69,012

  • 10 · Payroll taxes

    total $16,581 · program services $16,581

  • 11a · Fees: management

    total $60,082 · management and general $60,082

  • 11b · Fees: legal

    total $46,143 · program services $45,748 · management and general $395

  • 11c · Fees: accounting

    total $33,417 · management and general $33,417

  • 11g · Fees: other

    total $142,712 · program services $142,712

  • 13 · Office expenses

    total $13,430 · program services $1,084 · management and general $12,346

  • 16 · Occupancy

    total $860,926 · program services $860,926

  • 20 · Interest

    total $279,433 · program services $279,433

  • 22 · Depreciation, depletion and amortization

    total $394,062 · program services $394,062

  • 23 · Insurance

    total $55,604 · program services $54,256 · management and general $1,348

  • 24a · Other expenses: BAD DEBT

    total $5,957 · program services $5,957

  • 24e · All other expenses

    total $5,679 · program services $2,527 · management and general $3,152

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,727 · end of year $99,191

  • 2 · Savings and temporary cash investments

    beginning of year $985,805 · end of year $1,125,545

  • 4 · Accounts receivable

    beginning of year $32,696 · end of year $33,065

  • 9 · Prepaid expenses and deferred charges

    beginning of year $127,235 · end of year $127,478

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

    $12,836,855

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

    $6,915,776

  • 10c · Land, buildings and equipment, net

    beginning of year $6,278,564 · end of year $5,921,079

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $287,900 · end of year $399,892

  • 23 · Secured mortgages and notes payable

    beginning of year $10,728,508 · end of year $10,535,638

  • 25 · Other liabilities

    beginning of year $1,912,178 · end of year $1,978,890

  • 27 · Net assets without donor restrictions

    beginning of year -$5,267,559 · end of year -$5,608,062

Mission and programs · 2023

Mission

TO PROVIDE RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES OR PERSONS WITH VERY LOW INCOME.

Activities or mission (Part I)

TO PROVIDE RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES, OR PERSONS WITH VERY LOW INCOME.

  • THE CORPORATION OWNS AND OPERATES 69 RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES, AND PERSONS WITH VERY LOW INCOME.

    Expenses $2,015,312 · Revenue $1,817,581

As filed on the 2023 return.

Listed in Part VII

  • Msgr Kevin Nelan

    PRESIDENT / DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Theresa Maddicks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Deacon Rodney Beckford

    DIRECTOR / TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Pedro Morales

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2024
IRS schema version
2023v5.0
Source object
202411369349302621

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