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← ONE RIVERSIDE PARK HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by ONE RIVERSIDE PARK HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$698,555
Total expenses
$750,485
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$697,876
Investment income
$679
Other revenue
$0
Total assets, end of year
$529,495
Total liabilities, end of year
$445,602
Net assets or fund balances, end of year
$83,893
Program services expenses (Part IX)
$740,485
Management and general expenses
$10,000
Fundraising expenses
$0
Program service expenses (Part III)
$740,485

Program services were 98.7% 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.

  • 2a · Program service revenue: LOW-INCOME HOUSING RENTAL INCOME

    total $694,430 · related or exempt $694,430

  • 2b · Program service revenue: ANCILLARY TENANT SERVICES

    total $3,446 · related or exempt $3,446

  • 3 · Investment income

    total $679 · excluded $679

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $117,028 · program services $117,028

  • 9 · Other employee benefits

    total $17,257 · program services $17,257

  • 10 · Payroll taxes

    total $6,090 · program services $6,090

  • 11a · Fees: management

    total $69,390 · program services $69,390

  • 11b · Fees: legal

    total $683 · program services $683

  • 11c · Fees: accounting

    total $10,000 · management and general $10,000

  • 13 · Office expenses

    total $3,494 · program services $3,494

  • 14 · Information technology

    total $6,524 · program services $6,524

  • 16 · Occupancy

    total $312,063 · program services $312,063

  • 19 · Conferences, conventions and meetings

    total $600 · program services $600

  • 23 · Insurance

    total $60,026 · program services $60,026

  • 24a · Other expenses: BUILDING MAINTENANCE

    total $101,671 · program services $101,671

  • 24b · Other expenses: TAXES AND LICENSES

    total $29,388 · program services $29,388

  • 24c · Other expenses: BAD DEBT

    total $15,948 · program services $15,948

  • 24e · All other expenses

    total $323 · program services $323

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $377,207 · end of year $336,449

  • 4 · Accounts receivable

    beginning of year $92,431 · end of year $95,845

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,180 · end of year $7,377

  • 15 · Other assets

    beginning of year $78,186 · end of year $89,824

  • 17 · Accounts payable and accrued expenses

    beginning of year $422,179 · end of year $445,602

  • 27 · Net assets without donor restrictions

    beginning of year $135,825 · end of year $83,893

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

OPERATION OF A HOUSING PROJECT TO ELIGIBLE HOMELESS AND LOW INCOME SINGLE ADULTS.

  • ONE RIVERSIDE PARK HOUSING DEVELOPMENT FUND CORPORATION ("ONE RIVERSIDE") WAS FORMED FOR THE CHARITABLE PURPOSE OF OWNING, REHABILITATING AND OPERATING A SUPPORTIVE HOUSING PROJECT AT 40RIVERSIDE BOULEVARD, NEW YORK CITY. ONE RIVERSIDE OWNS AND MANAGES THE BUILDING'S 55 PERMANENTLY AFFORDABLE APARTMENTS, LOCATED IN A RAPIDLY TRANSFORMING NEIGHBORHOOD. WITH A MIX OF STUDIO, ONE- AND TWO-BEDROOM APARTMENTS, 40 RIVERSIDE IS HOME TO LOW-INCOME INDIVIDUALS AND FAMILIES WITH CHILDREN (AT OR BELOW 60% OF THE AREA MEDIAN INCOME).

    Expenses $740,485 · Revenue $697,876

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BRENDA ROSEN

    PRESIDENT & CEO

    Total calculated
    $656,013
    From this org
    $0
    From related orgs
    $641,542
    Other
    $14,471
    Hours/week
    5.92 + 29.08 related

    Schedule J breakdown matched by us

    Base
    $0 + $641,542 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $671 related
    Filer's total
    $0 + $656,013 related

  • DAVID BEER

    VICE PRESIDENT

    Total calculated
    $384,032
    From this org
    $0
    From related orgs
    $333,921
    Other
    $50,111
    Hours/week
    8.43 + 26.57 related

    Schedule J breakdown matched by us

    Base
    $0 + $333,921 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,680 related
    Nontaxable benefits
    $0 + $36,431 related
    Filer's total
    $0 + $384,032 related

  • BENJAMIN STACKS

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.06 + 0.3 related

  • JUDITH ROSENFELD

    SECRETARY

    Total calculated
    $161,031
    From this org
    $0
    From related orgs
    $142,608
    Other
    $18,423
    Hours/week
    8.87 + 26.13 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,608 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,914 related
    Nontaxable benefits
    $0 + $12,509 related
    Filer's total
    $0 + $161,031 related

  • KEVIN MORAN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $415,906
    From this org
    $0
    From related orgs
    $365,675
    Other
    $50,231
    Hours/week
    5.92 + 29.08 related

    Schedule J breakdown matched by us

    Base
    $0 + $365,675 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $36,431 related
    Filer's total
    $0 + $415,906 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

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
7 November 2025
IRS schema version
2024v5.2
Source object
202503119349301145

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