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Nonprofiteer
← 384 GRAND STREET HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by 384 GRAND STREET HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$956,675
Total expenses
$1,083,911
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$611,345
Investment income
$227,506
Other revenue
$117,824
Total assets, end of year
$4,862,095
Total liabilities, end of year
$111,063
Net assets or fund balances, end of year
$4,751,032
Program services expenses (Part IX)
$600,954
Management and general expenses
$482,957
Fundraising expenses
$0
Program service expenses (Part III)
$600,954

Program services were 55.4% 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 & VACANC

    total $385,576 · related or exempt $385,576

  • 2b · Program service revenue: SUBSIDY RENT

    total $225,769 · related or exempt $225,769

  • 3 · Investment income

    total $227,506 · excluded $227,506

  • 6a · Gross rents

    real property $124,774

  • 6b · Less rental expenses

    real property $10,360

  • 6c · Rental income or loss

    real property $114,414

  • 6d · Net rental income or loss

    total $114,414 · excluded $114,414

  • 11a · Other revenue: OTHER REVENUE

    total $2,832 · excluded $2,832

  • 11b · Other revenue: REIMBURSEMENT/TENANT C

    total $578 · excluded $578

  • 11e · Other revenue, total

    $3,410

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $22,568 · management and general $22,568

  • 11b · Fees: legal

    total $19,116 · program services $13,366 · management and general $5,750

  • 11g · Fees: other

    total $191,512 · program services $25,485 · management and general $166,027

  • 13 · Office expenses

    total $58,348 · program services $46,648 · management and general $11,700

  • 14 · Information technology

    total $3,578 · management and general $3,578

  • 16 · Occupancy

    total $360,330 · program services $360,330

  • 19 · Conferences, conventions and meetings

    total $309 · management and general $309

  • 22 · Depreciation, depletion and amortization

    total $117,469 · program services $117,469

  • 23 · Insurance

    total $490 · program services $490

  • 24a · Other expenses: BAD DEBT EXPENSES

    total $272,875 · management and general $272,875

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $21,502 · program services $21,488 · management and general $14

  • 24c · Other expenses: ALLOC. SALARIES & BENEF

    total $12,878 · program services $12,878

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $2,936 · program services $2,800 · management and general $136

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $414,092 · end of year $212,462

  • 2 · Savings and temporary cash investments

    beginning of year $11,740 · end of year $82,542

  • 4 · Accounts receivable

    beginning of year $62,366 · end of year $44,227

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,131 · end of year $34,514

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

    $3,106,669

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

    $2,388,887

  • 10c · Land, buildings and equipment, net

    beginning of year $827,260 · end of year $717,782

  • 11 · Investments: publicly traded securities

    beginning of year $3,588,648 · end of year $3,719,065

  • 15 · Other assets

    beginning of year $45,940 · end of year $51,503

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,701 · end of year $47,270

  • 19 · Deferred revenue

    beginning of year $9,081 · end of year $12,415

  • 21 · Escrow or custodial account liability

    beginning of year $41,127 · end of year $51,378

  • 27 · Net assets without donor restrictions

    beginning of year $4,878,268 · end of year $4,751,032

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE RESIDENTIAL HOUSE FACILITIES FOR PERSON WITH LOW- AND MODERATE-INCOME.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE LOW-INCOME RESIDENTIAL HOUSING FACILITIES.

  • TO PROVIDE AFFORDABLE RESIDENTIAL HOUSE FACILITIES FOR PERSON WITH LOW- AND MODERATE-INCOME. THE ORGANIZATION OWNS AND OPERATES A 26-UNIT APARTMENTS LOCATED AT 384 GRAND STREET, NEW YORK, NEW YORK.

    Expenses $600,954 · Revenue $611,345

As filed on the 2022 return.

Listed in Part VII

  • Donald Hong

    PRESIDENT

    Total calculated
    $0
    Hours/week
    15

  • Kin Wah Lee

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Kevin Hu

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Tony Siu

    TREASURER

    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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2025
IRS schema version
2022v5.0
Source object
202513209349300816

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