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← BEATRICE C CATULLO RESIDENCE HOUSING DEVELOPMENT FUND CORP

Form 990 for tax year 2023

Filed by BEATRICE C CATULLO RESIDENCE HOUSING DEVELOPMENT FUND CORP.

Totals

Total revenue
$1,057,252
Total expenses
$1,288,945
Contributions and grants received
$670,855
Grants paid
$0
Program service revenue
$318,027
Investment income
$108
Other revenue
$68,262
Total assets, end of year
$10,659,475
Total liabilities, end of year
$13,502,018
Net assets or fund balances, end of year
-$2,842,543
Program services expenses (Part IX)
$1,103,824
Management and general expenses
$185,121
Fundraising expenses
$0
Program service expenses (Part III)
$1,103,824

Program services were 85.6% 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.

  • 1e · Government grants (contributions)

    $670,855

  • 2a · Program service revenue: RENTAL INCOME

    total $318,027 · related or exempt $318,027

  • 3 · Investment income

    total $108 · excluded $108

  • 11a · Other revenue: WRITE-OFF OF PAYABLES

    total $64,573 · excluded $64,573

  • 11b · Other revenue: LAUNDRY INCOME

    total $3,689 · excluded $3,689

  • 11e · Other revenue, total

    $68,262

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $81,847 · program services $73,615 · management and general $8,232

  • 10 · Payroll taxes

    total $6,532 · program services $5,879 · management and general $653

  • 11a · Fees: management

    total $95,518 · management and general $95,518

  • 11b · Fees: legal

    total $3,162 · management and general $3,162

  • 11c · Fees: accounting

    total $23,707 · management and general $23,707

  • 11g · Fees: other

    total $188,133 · program services $187,313 · management and general $820

  • 13 · Office expenses

    total $20,605 · program services $4,791 · management and general $15,814

  • 14 · Information technology

    total $3,690 · management and general $3,690

  • 16 · Occupancy

    total $326,318 · program services $326,318

  • 22 · Depreciation, depletion and amortization

    total $333,789 · program services $333,789

  • 23 · Insurance

    total $746 · program services $746

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $169,238 · program services $169,238

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $30,487 · management and general $30,487

  • 24c · Other expenses: MISCELLANEOUS

    total $5,160 · program services $2,122 · management and general $3,038

  • 24d · Other expenses: REAL ESTATE FEES

    total $13 · program services $13

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200,972 · end of year $197,823

  • 4 · Accounts receivable

    beginning of year $21,038 · end of year $14,616

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

    $13,604,182

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

    $3,958,208

  • 10c · Land, buildings and equipment, net

    beginning of year $9,938,303 · end of year $9,645,974

  • 15 · Other assets

    beginning of year $1,186,724 · end of year $801,062

  • 17 · Accounts payable and accrued expenses

    beginning of year $647,580 · end of year $549,707

  • 19 · Deferred revenue

    beginning of year $5,414 · end of year $2,191

  • 21 · Escrow or custodial account liability

    beginning of year $22,425 · end of year $24,567

  • 23 · Secured mortgages and notes payable

    beginning of year $12,840,100 · end of year $12,483,185

  • 25 · Other liabilities

    beginning of year $442,368 · end of year $442,368

  • 27 · Net assets without donor restrictions

    beginning of year -$2,610,850 · end of year -$2,842,543

Mission and programs · 2023

Mission

TO PROVIDE 83 UNITS OF AFFORDABLE HOUSING TO THE LOW INCOME, ELDERLY OF THE COMMUNITY.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING TO THE LOW INCOME, ELDERLY AND DISABLED POPULATION OF THE COMMUNITY

  • TO PROVIDE 83 UNITS OF AFFORDABLE HOUSING TO THE LOW INCOME, ELDERLY OF THE COMMUNITY.

    Expenses $1,103,824 · Revenue $318,027

As filed on the 2023 return.

Listed in Part VII

  • DR ANDERSON TORRES

    PRESIDENT/CEO

    Total calculated
    $428,433
    From this org
    $0
    From related orgs
    $406,921
    Other
    $21,512
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $406,921 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,350 related
    Nontaxable benefits
    $0 + $1,162 related
    Filer's total
    $0 + $428,433 related

  • MARCIANA ZENAIDA ROGER

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • MUNESH JAGNANDAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • NELSON QUINONES

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • TANYA WHITTMORE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • RAFAEL RIVERA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ANTHONY MORMILE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • FATMIR TOCI

    CHIEF FINANCIAL OFFICER

    Total calculated
    $232,080
    From this org
    $0
    From related orgs
    $216,950
    Other
    $15,130
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $216,950 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,000 related
    Nontaxable benefits
    $0 + $4,130 related
    Filer's total
    $0 + $232,080 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
THE CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, AND EXECUTIVE DIRECTOR ARE COMPENSATED BY RAIN TOTAL CARE, INC., A RELATED TAX-EXEMPT ENTITY. RAIN TOTAL CARE, INC. USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION FOR THE CEO: 1) COMPENSATION COMMITTEE 2) FORM 990 OF OTHER ORGANIZATIONS 3) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413209349300306

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