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Nonprofiteer
← NEWSET II HDFC

Form 990 for tax year 2024

Filed by NEWSET II HDFC.

Totals

Total revenue
$1,542,832
Total expenses
$1,986,627
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,483,079
Investment income
$24,568
Other revenue
$35,185
Total assets, end of year
$4,753,899
Total liabilities, end of year
$8,533,761
Net assets or fund balances, end of year
-$3,779,862
Program services expenses (Part IX)
$1,876,853
Management and general expenses
$109,774
Fundraising expenses
$0
Program service expenses (Part III)
$1,876,853

Program services were 94.5% 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 $1,483,079 · related or exempt $1,483,079

  • 3 · Investment income

    total $24,568 · excluded $24,568

  • 11a · Other revenue: LEGAL FEE REIMBURSEMEN

    total $7,571 · related or exempt $7,571

  • 11b · Other revenue: LAUNDRY INCOME

    total $3,838 · related or exempt $3,838

  • 11d · All other revenue

    total $23,776 · related or exempt $23,776

  • 11e · Other revenue, total

    $35,185

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $529,565 · program services $437,316 · management and general $92,249

  • 11b · Fees: legal

    total $49,387 · program services $49,387

  • 11c · Fees: accounting

    total $17,525 · management and general $17,525

  • 11g · Fees: other

    total $138,184 · program services $138,184

  • 13 · Office expenses

    total $26,052 · program services $26,052

  • 16 · Occupancy

    total $301,433 · program services $301,433

  • 20 · Interest

    total $11,205 · program services $11,205

  • 22 · Depreciation, depletion and amortization

    total $163,542 · program services $163,542

  • 23 · Insurance

    total $140,622 · program services $140,622

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $521,358 · program services $521,358

  • 24b · Other expenses: BAD DEBTS

    total $62,538 · program services $62,538

  • 24c · Other expenses: RENT FREE UNIT

    total $24,422 · program services $24,422

  • 24d · Other expenses: ARCHITECT EXPENSE

    total $604 · program services $604

  • 24e · All other expenses

    total $190 · program services $190

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $153,080 · end of year $98,873

  • 4 · Accounts receivable

    beginning of year $283,168 · end of year $128,291

  • 9 · Prepaid expenses and deferred charges

    end of year $83,532

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

    $6,075,654

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

    $2,379,500

  • 10c · Land, buildings and equipment, net

    beginning of year $2,808,592 · end of year $3,696,154

  • 15 · Other assets

    beginning of year $1,583,803 · end of year $747,049

  • 17 · Accounts payable and accrued expenses

    beginning of year $168,771 · end of year $235,524

  • 19 · Deferred revenue

    beginning of year $30,726 · end of year $13,159

  • 21 · Escrow or custodial account liability

    beginning of year $91,202 · end of year $91,228

  • 23 · Secured mortgages and notes payable

    beginning of year $7,693,416 · end of year $7,674,642

  • 25 · Other liabilities

    beginning of year $180,595 · end of year $519,208

  • 27 · Net assets without donor restrictions

    beginning of year -$3,336,067 · end of year -$3,779,862

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING TO QUALIFYING LOW-INCOME FAMILIES IN THE BRONX, NEW YORK.

  • THE ORGANIZATON PROVIDES AND OPERATES 128 AFFORDABLE HOUSING APARTMENT UNITS TO QUALIFYING LOW-INCOME FAMILIES IN THE BRONX, NEW YORK.

    Expenses $1,876,853 · Revenue $1,518,264

  • THE ORGANIZATION PROVIDES SPACE FOR THE COLLEGE ACCESS PROGRAM WHICH PROVIDES FREE EDUCATIONAL COUNSELING TO ENCOURAGE JUNIOR AND SENIOR HIGH SCHOOL STUDENTS TO APPLY SUCCESSFULLY FOR ADVANCED EDUCATION, THE ORGANIZATION RECEIVED RENTAL REVENUE FROM AN AFFILIATED RELATED PARTY WHO ADMINISTERS THE COLLEGE ACCESS PROGRAM.

As filed on the 2024 return.

Listed in Part VII

  • ALEXA SEWELL

    PRESIDENT (THROUGH 2/23/24)

    Total calculated
    $83,776
    From this org
    $0
    From related orgs
    $67,225
    Other
    $16,551
    Hours/week
    0.25 + 38.25 related

  • JACQUELINE TOM

    TREASURER

    Total calculated
    $218,733
    From this org
    $0
    From related orgs
    $202,209
    Other
    $16,524
    Hours/week
    0.25 + 38.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,209 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $10,524 related
    Filer's total
    $0 + $218,733 related

  • JOANNA KAMHI

    SECRETARY

    Total calculated
    $154,891
    From this org
    $0
    From related orgs
    $138,367
    Other
    $16,524
    Hours/week
    0.25 + 38.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,367 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $10,524 related
    Filer's total
    $0 + $154,891 related

  • MICHAEL GABOURY

    VICE PRESIDENT

    Total calculated
    $217,328
    From this org
    $0
    From related orgs
    $200,804
    Other
    $16,524
    Hours/week
    0.25 + 38.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,804 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $10,524 related
    Filer's total
    $0 + $217,328 related

  • RICHARD JOHNS

    PRESIDENT

    Total calculated
    $240,062
    From this org
    $0
    From related orgs
    $233,846
    Other
    $6,216
    Hours/week
    0.25 + 38.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,846 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $216 related
    Filer's total
    $0 + $240,062 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 COMPENSATIONIS DETERMINED AND PAID BY THE PARENT ORGANIZATION - SETTLEMENT HOUSING FUND, INC.

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
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202543149349302914

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