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Nonprofiteer
← ASIAN-AMERICAN HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2024

Filed by ASIAN-AMERICAN HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$2,500,542
Total expenses
$2,024,585
Contributions and grants received
$23,588
Grants paid
$0
Program service revenue
$2,270,239
Investment income
$197,270
Other revenue
$9,445
Total assets, end of year
$13,447,924
Total liabilities, end of year
$9,115,894
Net assets or fund balances, end of year
$4,332,030
Program services expenses (Part IX)
$1,794,818
Management and general expenses
$229,767
Fundraising expenses
$0
Program service expenses (Part III)
$1,794,818

Program services were 88.7% 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.

  • 1e · Government grants (contributions)

    $23,588

  • 1g · Noncash contributions included above

    $23,588

  • 2a · Program service revenue: RENTAL INCOME

    total $2,270,239 · related or exempt $2,270,239

  • 3 · Investment income

    total $197,270 · excluded $197,270

  • 11a · Other revenue: REAL ESTATE TAXES

    total $9,404 · related or exempt $9,404

  • 11b · Other revenue: OTHER INCOME

    total $41 · related or exempt $41

  • 11e · Other revenue, total

    $9,445

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $677,522 · program services $479,217 · management and general $198,305

  • 11b · Fees: legal

    total $33,117 · program services $33,117

  • 11g · Fees: other

    total $31,498 · program services $4,388 · management and general $27,110

  • 13 · Office expenses

    total $1,289 · program services $1,243 · management and general $46

  • 14 · Information technology

    total $7,410 · program services $7,410

  • 16 · Occupancy

    total $484,649 · program services $484,649

  • 20 · Interest

    total $96,747 · program services $96,747

  • 22 · Depreciation, depletion and amortization

    total $229,524 · program services $229,524

  • 23 · Insurance

    total $195,765 · program services $195,765

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $91,972 · program services $91,972

  • 24b · Other expenses: BAD DEBTS

    total $79,216 · program services $79,216

  • 24c · Other expenses: OTHER EXPENSES

    total $43,043 · program services $39,894 · management and general $3,149

  • 24d · Other expenses: VACANCY LOSS

    total $37,015 · program services $37,015

  • 24e · All other expenses

    total $15,818 · program services $14,661 · management and general $1,157

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $763,941 · end of year $886,478

  • 4 · Accounts receivable

    beginning of year $34,277 · end of year $46,364

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,919 · end of year $147,085

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

    $7,484,782

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

    $2,724,946

  • 10c · Land, buildings and equipment, net

    beginning of year $4,966,360 · end of year $4,759,836

  • 13 · Investments: program-related

    beginning of year $1,730,596 · end of year $1,251,329

  • 15 · Other assets

    beginning of year $5,839,275 · end of year $6,356,832

  • 17 · Accounts payable and accrued expenses

    beginning of year $193,658 · end of year $157,123

  • 19 · Deferred revenue

    beginning of year $36,534 · end of year $33,413

  • 21 · Escrow or custodial account liability

    beginning of year $164,149 · end of year $161,253

  • 23 · Secured mortgages and notes payable

    beginning of year $8,698,288 · end of year $8,666,150

  • 25 · Other liabilities

    beginning of year $39,399 · end of year $97,955

  • 27 · Net assets without donor restrictions

    beginning of year $4,335,340 · end of year $4,332,030

Mission and programs · 2024

Mission

TO ACQUIRE, PRESERVE AND OPERATE AFFORDABLE (RENTAL) HOUSING FOR LOW TO MEDIAN INCOME FAMILIES.

Activities or mission (Part I)

ACQUIRES, PRESERVES, AND OPERATES AFFORDABLE RENTAL HOUSING FOR LOW TO MEDIAN INCOME FAMILIES.

  • OPERATES 14 LOW-INCOME HOUSING BUILDINGS LOCATED IN NEW YORK, NEW YORK.

    Expenses $1,794,818 · Revenue $2,279,684

As filed on the 2024 return.

Listed in Part VII

  • Hsueh Lam Yan

    SECRETARY/DIR. ASSET &PROPERTY MGMT..

    Total calculated
    $220,267
    From this org
    $0
    From related orgs
    $193,724
    Other
    $26,543
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,724 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,909 related
    Nontaxable benefits
    $0 + $18,634 related
    Filer's total
    $0 + $220,267 related

  • Hui-Yuan Nelson Chan

    TREASURER/MANG. DIR. OF REAL ESTATE

    Total calculated
    $270,854
    From this org
    $0
    From related orgs
    $206,467
    Other
    $64,387
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,467 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,972 related
    Nontaxable benefits
    $0 + $54,415 related
    Filer's total
    $0 + $270,854 related

  • Thomas Yu

    PRESIDENT/ED

    Total calculated
    $345,979
    From this org
    $0
    From related orgs
    $284,107
    Other
    $61,872
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $284,107 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,895 related
    Nontaxable benefits
    $0 + $51,977 related
    Filer's total
    $0 + $345,979 related

  • My T Chang

    VICE PRESIDENT/CHIEF OF ST

    Total calculated
    $208,865
    From this org
    $0
    From related orgs
    $199,435
    Other
    $9,430
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,435 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,159 related
    Nontaxable benefits
    $0 + $2,271 related
    Filer's total
    $0 + $208,865 related

  • Joy Suzanne Granado

    CHIEF ACCOUNTING OFFICER (OUTGOING)

    Total calculated
    $196,718
    From this org
    $0
    From related orgs
    $175,272
    Other
    $21,446
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,272 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,313 related
    Nontaxable benefits
    $0 + $15,133 related
    Filer's total
    $0 + $196,718 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 COMPENSATION OF THE PRESIDENT/ED IS ESTABLISHED BY THE RELARED ENTITY ASIAN AMERICANS FOR EQUALITY, 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.

  • NORFOLK APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDE AFFORDABLE RENTAL HOUSING · NY · 99.99% owned

    Directly controlled by ASIAN-AMERICAN HOUSING DEVELOPMENT FUND COMPANY INC

  • NORFOLK APARTMENTS II LIMITED PARTNERSHIP

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • EAST VILLAGE HOMES

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • BREMOND KING DAVIS LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

Related corporations and trusts

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

  • AAFE NEW AMERICAN OPPORTUNITY FUND INC

    C · PROMOTE COMMON GOOD, WELFARE, AND ECONOMIC DEVELOPMENT IN NY · NY

  • HARMONY 106 CORP

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • ONE FLUSHING NP LLC

    C · RENOVATION OF FLUSHING, NY PROPERTY · NY

  • EAST VILLAGE HOMES MANAGER CORP

    C · HOLDING COMPANY · NY

  • EAST VILLAGE HOUSING DEVELOPMENT FOUND COMPANY INC

    C · HOLDING COMPANY · NY

Provenance

Return type
form_990
Tax year
2024
Filed
17 October 2025
IRS schema version
2024v5.2
Source object
202502949349301550

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