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Nonprofiteer
← EXTRA PLACE HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by EXTRA PLACE HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$1,250,871
Total expenses
$1,227,881
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,231,998
Investment income
$4,014
Other revenue
$14,859
Total assets, end of year
$5,038,628
Total liabilities, end of year
$5,227,553
Net assets or fund balances, end of year
-$188,925
Program services expenses (Part IX)
$1,118,488
Management and general expenses
$109,393
Fundraising expenses
$0
Program service expenses (Part III)
$1,118,488

Program services were 91.1% 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

    total $1,226,478 · related or exempt $1,226,478

  • 2b · Program service revenue: LAUNDRY INCOME

    total $5,520 · related or exempt $5,520

  • 3 · Investment income

    total $4,014 · excluded $4,014

  • 11a · Other revenue: BAD DEBTS (RECOVERY)

    total $7,087 · related or exempt $7,087

  • 11d · All other revenue

    total $7,772 · related or exempt $7,772

  • 11e · Other revenue, total

    $14,859

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $51,960 · program services $51,960

  • 8 · Pension plan contributions

    total $4,289 · program services $4,289

  • 9 · Other employee benefits

    total $21,273 · program services $21,273

  • 10 · Payroll taxes

    total $5,305 · program services $5,305

  • 11a · Fees: management

    total $91,038 · management and general $91,038

  • 11b · Fees: legal

    total $1,031 · program services $1,031

  • 11c · Fees: accounting

    total $18,355 · management and general $18,355

  • 11g · Fees: other

    total $6,934 · program services $6,934

  • 13 · Office expenses

    total $20,493 · program services $20,493

  • 16 · Occupancy

    total $340,745 · program services $340,745

  • 20 · Interest

    total $110,789 · program services $110,789

  • 22 · Depreciation, depletion and amortization

    total $463,478 · program services $463,478

  • 23 · Insurance

    total $32,486 · program services $32,486

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $59,705 · program services $59,705

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $295,601 · end of year $105,422

  • 2 · Savings and temporary cash investments

    beginning of year $34,205 · end of year $34,285

  • 4 · Accounts receivable

    beginning of year $153,773 · end of year $269,442

  • 9 · Prepaid expenses and deferred charges

    beginning of year $211,063 · end of year $273,097

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

    $12,533,723

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

    $8,185,848

  • 10c · Land, buildings and equipment, net

    beginning of year $4,789,003 · end of year $4,347,875

  • 14 · Intangible assets

    beginning of year $11,160 · end of year $8,507

  • 17 · Accounts payable and accrued expenses

    beginning of year $432,507 · end of year $162,687

  • 21 · Escrow or custodial account liability

    beginning of year $34,205 · end of year $34,285

  • 23 · Secured mortgages and notes payable

    beginning of year $5,232,715 · end of year $5,030,581

  • 25 · Other liabilities

    beginning of year $7,500 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$212,122 · end of year -$188,925

Mission and programs · 2024

Mission

EXTRA PLACE HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED IN FEBRUARY 2004 TO ACQUIRE, DEVELOP AND OPERATE A HOUSING PROJECT, A QUALIFIED LOW-INCOME HOUSING PROJECT.

  • EXTRA PLACE HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A 42 UNIT RESIDENTIAL BUILDING IN THE BOROUGH OF MANHATTAN FOR PERSONS OF LOW AND MODERATE INCOME.

    Expenses $1,118,488 · Revenue $1,246,857

As filed on the 2024 return.

Listed in Part VII

  • Adam Weinstein

    PRESIDENT/CEO

    Total calculated
    $1,043,974
    From this org
    $0
    From related orgs
    $863,534
    Other
    $180,440
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $713,534 related
    Bonus
    $0 + $150,000 related
    Other
    $0
    Deferred
    $0 + $143,252 related
    Nontaxable benefits
    $0 + $37,188 related
    Filer's total
    $0 + $1,043,974 related

  • James Robert Pigott Jr

    VICE PRESIDENT AND SECRETA

    Total calculated
    $454,550
    From this org
    $0
    From related orgs
    $366,981
    Other
    $87,569
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,981 related
    Bonus
    $0 + $59,000 related
    Other
    $0
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $31,367 related
    Filer's total
    $0 + $454,550 related

  • Lukeman Ogunyinka

    TREASURER

    Total calculated
    $367,205
    From this org
    $0
    From related orgs
    $357,241
    Other
    $9,964
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,041 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $21,200 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,964 related
    Filer's total
    $0 + $367,205 related

  • Matthew Kelly

    OUTGOING VICE PRESIDENT

    Total calculated
    $311,460
    From this org
    $0
    From related orgs
    $241,381
    Other
    $70,079
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,381 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $13,877 related
    Filer's total
    $0 + $311,460 related

  • Michael Wadman

    VICE PRESIDENT

    Total calculated
    $380,571
    From this org
    $0
    From related orgs
    $321,134
    Other
    $59,437
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,134 related
    Bonus
    $0 + $42,000 related
    Other
    $0
    Deferred
    $0 + $56,202 related
    Nontaxable benefits
    $0 + $3,235 related
    Filer's total
    $0 + $380,571 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

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.

  • PLAZA SOUTH MANAGEMENT COMPANY II LLC

    REAL ESTATE MGMT. · NY

  • VIA VERDE RENTAL LEASING LLC

    REAL ESTATE MGMT. · NY

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

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202543199349302309

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