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← 231 EAST 77 HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL

Form 990 for tax year 2024

Filed by 231 EAST 77 HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL.

Totals

Total revenue
$174,402
Total expenses
$350,865
Contributions and grants received
$9,800
Grants paid
$0
Program service revenue
$161,644
Investment income
$735
Other revenue
$2,223
Total assets, end of year
$5,122,813
Total liabilities, end of year
$206,831
Net assets or fund balances, end of year
$4,915,982
Program services expenses (Part IX)
$338,249
Management and general expenses
$12,616
Fundraising expenses
$0
Program service expenses (Part III)
$338,249

Program services were 96.4% 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.

  • 1f · All other contributions, gifts and grants

    $9,800

  • 2a · Program service revenue: RENTAL INCOME

    total $161,644 · related or exempt $161,644

  • 3 · Investment income

    total $735 · excluded $735

  • 11a · Other revenue: LAUDRY & VENDING INCOM

    total $1,083 · related or exempt $1,083

  • 11d · All other revenue

    total $1,140 · related or exempt $1,140

  • 11e · Other revenue, total

    $2,223

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $41,376 · program services $28,760 · management and general $12,616

  • 11b · Fees: legal

    total $1,728 · program services $1,728

  • 11c · Fees: accounting

    total $12,632 · program services $12,632

  • 11g · Fees: other

    total $1,615 · program services $1,615

  • 13 · Office expenses

    total $6,577 · program services $6,577

  • 16 · Occupancy

    total $95,428 · program services $95,428

  • 19 · Conferences, conventions and meetings

    total $47 · program services $47

  • 22 · Depreciation, depletion and amortization

    total $141,204 · program services $141,204

  • 23 · Insurance

    total $13,093 · program services $13,093

  • 24a · Other expenses: REPAIRS AND MAINETANCE

    total $33,575 · program services $33,575

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $2,155 · program services $2,155

  • 24c · Other expenses: LICENSE AND FEES

    total $1,435 · program services $1,435

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,756 · end of year $75,357

  • 4 · Accounts receivable

    beginning of year $2,588 · end of year $456

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,087 · end of year $2,950

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

    $7,418,759

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

    $2,417,970

  • 10c · Land, buildings and equipment, net

    beginning of year $5,092,547 · end of year $5,000,789

  • 15 · Other assets

    beginning of year $47,992 · end of year $43,261

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,519 · end of year $71,903

  • 21 · Escrow or custodial account liability

    beginning of year $12,869 · end of year $11,985

  • 25 · Other liabilities

    beginning of year $52,137 · end of year $122,943

  • 27 · Net assets without donor restrictions

    beginning of year $5,092,445 · end of year $4,915,982

Mission and programs · 2024

Mission

TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.

Activities or mission (Part I)

PROVIDE SUSIDIZED RENTAL APARTMENTS FOR SENIORS AND LOW INCOME INDIVIDUALS.

  • TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.

    Expenses $338,249 · Revenue $163,867

As filed on the 2024 return.

Listed in Part VII

  • LINDA SPITZER

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 2.3 related

  • KENNETH ECKSTEIN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 2.3 related

  • STACEY SCHEINBERG

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1 + 2.3 related

  • DAVID GREENFIELD

    CEO

    Total calculated
    $689,992
    From this org
    $0
    From related orgs
    $630,294
    Other
    $59,698
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $629,934 related
    Bonus
    $0
    Other
    $0 + $360 related
    Deferred
    $0 + $4,140 related
    Nontaxable benefits
    $0 + $55,858 related
    Filer's total
    $0 + $690,292 related

  • ELENA SYTCHEVA

    CO-MANAGING DIRECTOR

    Total calculated
    $176,478
    From this org
    $0
    From related orgs
    $156,383
    Other
    $20,095
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,260 related
    Bonus
    $0
    Other
    $0 + $123 related
    Deferred
    $0 + $2,277 related
    Nontaxable benefits
    $0 + $18,118 related
    Filer's total
    $0 + $176,778 related

  • PHILIP KIBEL

    CFO

    Total calculated
    $338,527
    From this org
    $0
    From related orgs
    $279,823
    Other
    $58,704
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,791 related
    Bonus
    $0
    Other
    $0 + $1,032 related
    Deferred
    $0 + $3,600 related
    Nontaxable benefits
    $0 + $55,404 related
    Filer's total
    $0 + $338,827 related

  • ROBERT NEWMAN

    COO

    Total calculated
    $314,104
    From this org
    $0
    From related orgs
    $307,185
    Other
    $6,919
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,601 related
    Bonus
    $0
    Other
    $0 + $1,584 related
    Deferred
    $0 + $3,720 related
    Nontaxable benefits
    $0 + $3,499 related
    Filer's total
    $0 + $314,404 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
15 November 2025
IRS schema version
2024v5.2
Source object
202543199349300139

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