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Nonprofiteer
← PH AFFORDABLE HOUSING FUND INC

Form 990 for tax year 2022

Filed by PH AFFORDABLE HOUSING FUND INC.

Totals

Total revenue
$568,716
Total expenses
$372,094
Contributions and grants received
$225,000
Grants paid
$275,000
Program service revenue
$342,716
Investment income
$0
Other revenue
$1,000
Total assets, end of year
$53,401,359
Total liabilities, end of year
$53,002,531
Net assets or fund balances, end of year
$398,828
Program services expenses (Part IX)
$372,094
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$372,094

Program services were 100.0% 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)

    $225,000

  • 2a · Program service revenue: RENTAL INCOME

    total $342,716 · related or exempt $342,716

  • 11d · All other revenue

    total $1,000 · related or exempt $1,000

  • 11e · Other revenue, total

    $1,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $275,000 · program services $275,000

  • 11b · Fees: legal

    total $5,903 · program services $5,903

  • 11c · Fees: accounting

    total $7,250 · program services $7,250

  • 11g · Fees: other

    total $91 · program services $91

  • 13 · Office expenses

    total $175 · program services $175

  • 16 · Occupancy

    total $74,207 · program services $74,207

  • 17 · Travel

    total $102 · program services $102

  • 23 · Insurance

    total $3,138 · program services $3,138

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

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

  • 24b · Other expenses: FILING FEES

    total $675 · program services $675

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $82,261 · end of year $383,281

  • 4 · Accounts receivable

    beginning of year $172,654 · end of year $107,698

  • 7 · Other notes and loans receivable

    beginning of year $4,420,293 · end of year $4,420,293

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,516

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

    $48,478,312

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

    $38,225

  • 10c · Land, buildings and equipment, net

    beginning of year $48,016,205 · end of year $48,440,087

  • 15 · Other assets

    beginning of year $50,000 · end of year $50,000

  • 24 · Unsecured notes and loans payable

    beginning of year $4,420,293 · end of year $4,420,293

  • 25 · Other liabilities

    beginning of year $48,129,430 · end of year $48,582,238

  • 27 · Net assets without donor restrictions

    beginning of year $202,206 · end of year $398,828

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO SUPPORT PROMOTE AFFORDABLE HOUSING, LOW-INCOME AND SUPPORTIVE HOUSING PROJECTS AND COMMUNITY DEVELOPMENT INITIATIVES AND ACTIVITIES.

  • DURING THE PREDEVELOPMENT STAGE OF THE AFFORDABLE HOUSING PROJECT, THE ENTITY WILL BE RECEIVING RENT FROM PRE-EXISTING RENTAL INCOME SOURCES IN THE PROCESS OF REVITALIZATION OF THE AREA. ALSO, PROVIDE FINANCIAL SUPPORT TO LOW INCOME HOUSING ACTIVITIES.

    Expenses $372,094 · Grants $275,000 · Revenue $343,716

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adam Weinstein

    PRESIDENT/CEO

    Total calculated
    $968,887
    From this org
    $0
    From related orgs
    $806,771
    Other
    $162,116
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $642,271 related
    Bonus
    $0 + $145,000 related
    Other
    $0 + $19,500 related
    Deferred
    $0 + $143,252 related
    Nontaxable benefits
    $0 + $18,864 related
    Filer's total
    $0 + $968,887 related

  • James Robert Pigott Jr

    VICE PRESIDENT AND SECRETA

    Total calculated
    $415,028
    From this org
    $0
    From related orgs
    $340,062
    Other
    $74,966
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,562 related
    Bonus
    $0 + $56,000 related
    Other
    $0 + $19,500 related
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $18,764 related
    Filer's total
    $0 + $415,028 related

  • Brian Bricker

    TREASURER

    Total calculated
    $386,236
    From this org
    $0
    From related orgs
    $316,782
    Other
    $69,454
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,282 related
    Bonus
    $0 + $56,000 related
    Other
    $0 + $19,500 related
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $13,252 related
    Filer's total
    $0 + $386,236 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
PHIPPS HOUSES, AN AFFILIATE OF THE REPORTING ORGANIZATION PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. PHIPPS HOUSES HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B
ADAM WEINSTEIN, PRESIDENT, IS A PARTICIPANT IN A SECTION 457(F) PLAN THAT REQUIRES HIM TO PERFORM SERVICES FOR A PERIOD OF TIME. HE HAS RECEIVED ANNUAL AWARDS BEGINNING IN 2017 AND (CONSISTENT WITH IRS FORM 990, SCHEDULE J INSTRUCTIONS) THESE AMOUNTS ARE TREATED AS ACCRUED OR EARNED RATABLY OVER THE COURSE OF THE SERVICE PERIOD. $87,050 IS REPORTED AS EARNED DURING THE REPORTING PERIOD WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C).

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

  • PHIPPS HOUSES

    $275,000

    THE DEVELOPMENT OR MAINTENANCE OF LOW-INCOME OR AFFORDABLE HOUSING ON A TAX EXEMPT BASIS.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 1130 TIFFANY STREET LLC

    REAL ESTATE · NY · income $0 · assets $22,621,458

  • 933-939 COURTLANDT LLC

    REAL ESTATE · NY · income $343,716 · assets $9,677,843

  • HORNADAY PLACE LLC

    REAL ESTATE · NY · income $0 · assets $3,814,079

  • PH NAMEOKE LLC

    REAL ESTATE · NY · income $0 · assets $0

  • DINSMORE ASSOCIATES LLC

    REAL ESTATE · NY · income $0 · assets $12,772,222

  • EAST 182 STREET ASSOCIATES LLC

    REAL ESTATE · NY · income $0 · assets $65,466

Related corporations and trusts

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

  • 1039 BOSTON ROAD MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 1691 FULTON AVENUE MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 600 EAST 156TH STREET MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 710 EAST 9TH STREET MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 912 EAST 178TH STREET MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 988 EAST 180 STREET MODERATE MM CORP

    C · REAL ESTATE MGMT · NY

  • 988 EAST 180TH STREET HDFC

    C · REAL ESTATE MGMT · NY

  • 988 EAST 180TH STREET MANAEMENT CORP

    C · REAL ESTATE MGMT · NY

  • ATLANTIC CHESTNUT I MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • ATLANTIC CHESTNUT II MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • ATLANTIC CHESTNUT III MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • BOSTON TREMONT LLC

    C · REAL ESTATE MGMT · NY

  • COURTLANDT COMMUNITY MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CORNERS I MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CORNERS I INC

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CORNERS II MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CORNERS II INC

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CRESCENT MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • COURTLANDT CRESCENT INC

    C · REAL ESTATE MGMT · NY

  • DEMPSEY APARTMENTS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • ECHO APARTMENTS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • ELTON CROSSING HDFC

    C · REAL ESTATE MGMT · NY

  • ELTON CROSSING INC

    C · REAL ESTATE MGMT · NY

  • EXTRA PLACE MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • FABRIA HOUSES MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • FRV PHASE 1 HOLDINGS INC

    C · REAL ESTATE MGMT · NY

  • FRV PHASE 1 MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • HANCOCK PLACE APARTMENTS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • HOBBS CIENA MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • HONEYWELL II MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • LEBANON WEST FARMS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • LEBANON WEST FARMS INC

    C · REAL ESTATE MGMT · NY

  • LEE GOODWIN MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • LPV MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • MONTEREY APARTMENTS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • PHIPPS HOUSES HOLDINGS LLC

    C · REAL ESTATE MGMT · NY

  • PHIPPS HOUSES SERVICES INC

    C · REAL ESTATE MGMT · NY

  • PHIPPS HPS LIHTC ASSOCIATES INC

    C · REAL ESTATE MGMT · NY

  • PHIPPS VIA VERDE HOMES INC

    C · REAL ESTATE MGMT · NY

  • RCB APARTMENTS MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • SALEM HOUSE MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • SUNNYSIDE MEMBER CORPORATION

    C · REAL ESTATE MGMT · NY

  • VIA VERDE CONDOMINIUM

    C · REAL ESTATE MGMT · NY

  • VIA VERDE RENTAL MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • VIA VERDE RENTAL INC

    C · REAL ESTATE MGMT · NY

  • WEST 128TH STREET MANAGEMENT CORP

    C · REAL ESTATE MGMT · NY

  • 2080 BOSTON ROAD HOLDINGS INC

    C · REAL ESTATE MGMT · NY

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323199349300927

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