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Nonprofiteer
← MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY INC

Form 990-EZ for tax year 2023

Filed by MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$106,510
Total expenses
$78,855
Contributions and grants received
not reported
Grants paid
not reported
Program service revenue
$106,510
Membership dues (line 3)
not reported
Investment income (line 4)
not reported
Gain or loss on sale of assets (line 5c)
not reported
Gaming and fundraising events, net (line 6d)
not reported
Gross profit on inventory sales (line 7c)
not reported
Other revenue (line 8)
not reported
Total assets, end of year
$194,963
Total liabilities, end of year
$237,157
Net assets or fund balances, end of year
-$42,194
Program service expenses (Part III)
$78,855

Program services were 100.0% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.

Mission and programs · 2023

Primary exempt purpose

MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY, INC. WAS DEVELOPED AND OPERATES WITH FEDERAL HOUSING FINANCING. THE PROPERTY UTILIZES THE FEDERAL HOUSING PROGRAM 202 SECTION 8 TO MAKE RENT AFFORDABLE TO LOWER INCOME TENANTS. THE PROPERTY WAS DEVELOPED WITH FUNDING THROUGH THE HUD 202 SECTION 8 PROGRAM, WHICH PROVIDES FUNDING FOR ADULTS WHO ARE DISABLED OR 62 OR OLDER. MOTHER OF GRACE IS AN AFFORDABLE APARTMENT COMMUNITY LOCATED AT 289 CROSBY BLVD., AMHERST, NEW YORK, 14226, WHICH IS IN ERIE COUNTY. THE PROPERTY CONSISTS OF 10 ASSISTED RENTAL UNITS.

  • MOTHER OF DIVINE GRACE HOUSING DEVELOPMENT FUND COMPANY, INC. PROVIDES RENTAL SUBSIDIES TO RENTERS. THE TYPE OF SUBSIDY PROVIDED TO APARTMENT RENTERS BY THIS PROPERTY IS HUD 202 SECTION 8 RENTAL ASSISTANCE. THE SUBSIDY ALLOWS THE RENTER TO PAY 30% OF THEIR INCOME FOR RENT WHILE THE SUBSIDY PAYS THE DIFFERENCE. TO QUALIFY, A RENTER MUST EARN 50% OR LESS THAN AREA MEDIAN INCOME, AND BE DISABLED OR 62 YEARS OF AGE OR OLDER.

    Expenses $78,855

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part IV

  • Father David Lipuma

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Father Peter J Karalus

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Cindy Lee

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • R Halladay Swanson

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Bishop Michael W Fisher

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Quinn

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Ellen Musialowski

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990_ez
Tax year
2023
Filed
29 August 2024
IRS schema version
2023v5.1
Source object
202422919349200817

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