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← GENEVA GENERAL HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by GENEVA GENERAL HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$574,339
Total expenses
$595,017
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$572,010
Investment income
$285
Other revenue
$2,044
Total assets, end of year
$1,882,009
Total liabilities, end of year
$1,686,883
Net assets or fund balances, end of year
$195,126
Program services expenses (Part IX)
$520,356
Management and general expenses
$74,661
Fundraising expenses
$0
Program service expenses (Part III)
$520,356

Program services were 87.5% 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 - HUD

    total $369,311 · related or exempt $369,311

  • 2b · Program service revenue: RENTAL INCOME - TENANT

    total $202,699 · related or exempt $202,699

  • 3 · Investment income

    total $285 · excluded $285

  • 11a · Other revenue: OTHER MISC. INCOME

    total $2,044 · related or exempt $2,044

  • 11e · Other revenue, total

    $2,044

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $112,066 · program services $112,066

  • 8 · Pension plan contributions

    total $3,388 · program services $3,388

  • 9 · Other employee benefits

    total $40,130 · program services $40,130

  • 10 · Payroll taxes

    total $9,101 · program services $9,101

  • 11a · Fees: management

    total $34,640 · management and general $34,640

  • 11c · Fees: accounting

    total $14,060 · management and general $14,060

  • 12 · Advertising and promotion

    total $273 · management and general $273

  • 16 · Occupancy

    total $84,010 · program services $84,010

  • 19 · Conferences, conventions and meetings

    total $291 · management and general $291

  • 20 · Interest

    total $64,525 · program services $64,525

  • 22 · Depreciation, depletion and amortization

    total $173,731 · program services $173,731

  • 23 · Insurance

    total $33,397 · program services $33,397

  • 24a · Other expenses: OTHER ADMIN EXPENSES

    total $25,397 · management and general $25,397

  • 24b · Other expenses: MISC EXPENSE

    total $8 · program services $8

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,510 · end of year $3,041

  • 4 · Accounts receivable

    beginning of year $5,523 · end of year $5,437

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,770 · end of year $7,720

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

    $4,352,880

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

    $3,179,666

  • 10c · Land, buildings and equipment, net

    beginning of year $1,346,945 · end of year $1,173,214

  • 15 · Other assets

    beginning of year $608,374 · end of year $692,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,803 · end of year $17,085

  • 19 · Deferred revenue

    beginning of year $1,844 · end of year $4,193

  • 23 · Secured mortgages and notes payable

    beginning of year $1,713,611 · end of year $1,646,818

  • 25 · Other liabilities

    beginning of year $19,060 · end of year $18,787

  • 27 · Net assets without donor restrictions

    beginning of year $215,804 · end of year $195,126

Mission and programs · 2023

Mission

OPERATE A LOW INCOME HOUSING PROJECT FOR ELDERLY AND HANDICAPPED INDIVIDUALS.

  • GENEVA GENERAL HOUSING DEVELOPMENT FUND COMPANY, INC. OWNS AND OPERATES A 50-UNIT HOUSING PROJECT FOR LOW INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.

    Expenses $520,356 · Revenue $574,054

As filed on the 2023 return.

Listed in Part VII

  • W James Gerling

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Stephen Deraddo

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Robert J McFadden

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jose Acevedo-Ramos MD MBA

    PRESIDENT

    Total calculated
    $1,010,435
    From this org
    $0
    From related orgs
    $945,580
    Other
    $64,855
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $628,385 related
    Bonus
    $0 + $316,007 related
    Other
    $0 + $1,188 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $12,355 related
    Filer's total
    $0 + $1,010,435 related

  • William Garrity

    BOARD MEMBER

    Total calculated
    $303,612
    From this org
    $0
    From related orgs
    $273,725
    Other
    $29,887
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,000 related
    Bonus
    $0 + $16,050 related
    Other
    $0 + $57,675 related
    Deferred
    $0 + $24,000 related
    Nontaxable benefits
    $0 + $5,887 related
    Filer's total
    $0 + $303,612 related

  • Steve Goldstein

    BOARD MEMBER

    Total calculated
    $1,848,105
    From this org
    $0
    From related orgs
    $1,633,548
    Other
    $214,557
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $1,528,811 related
    Bonus
    $0
    Other
    $0 + $104,737 related
    Deferred
    $0 + $191,337 related
    Nontaxable benefits
    $0 + $23,220 related
    Filer's total
    $0 + $1,848,105 related

  • Trisha Koczent

    TREASURER

    Total calculated
    $446,092
    From this org
    $0
    From related orgs
    $392,815
    Other
    $53,277
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $315,001 related
    Bonus
    $0 + $77,400 related
    Other
    $0 + $414 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $777 related
    Filer's total
    $0 + $446,092 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
AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION WHICH USES ONE OR MORE OF THE METHODS DESCRIBED IN LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIALS' COMPENSATION THESE QUESTIONS HAVE BEEN LEFT BLANK.
PART I, LINE 4B
CERTAIN OFFICERS AND DIRECTORS PARTICIPATE IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PROVIDED BY GENEVA GENERAL HOSPITAL (GGH), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. GGH DEPOSITS FUNDS INTO A 457(F) PLAN FOR JOSE ACEVEDO, MD, MBA, ASSISTANT SECRETARY FOR HIS ROLE AS PRESIDENT AND CEO OF VARIOUS AFFILIATED ENTITIES.

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 corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MEDICAL ADMINISTRATIVE ASSOCIATES INC

    C · RETAIL PHARMA · NY

    Directly controlled by HIGHLD HOSP

  • UR EQUITY HOLDINGS INC

    C · HOLDING COMPA · DE

    Directly controlled by UNIV OF ROCH

  • FFTH PROPERTIES AND SERVICES INC

    C · HOLDING COMPA · NY

    Directly controlled by FFTHS INC

  • EXCELL TECHNOLOGY VENTURES INC

    C · BIOTECH INCUB · NY

    Directly controlled by ROCH BIOVENTURE

  • ACCOUNTABLE HEALTH PARTNERS LLC

    C · ACCT CARE NET · NY

    Directly controlled by UNIV OF ROCH

  • ACCOUNTABLE HEALTH PARTNERS IPA LLC

    C · INDEP PRACT A · NY

    Directly controlled by AHP LLC

  • AHP INSURANCE COMPANY

    C · CAPTIVE INS C · VT

    Directly controlled by AHP LLC

  • LUMINATE VENTURE CHALLENGE CORP

    C · BUSINESS INCU · NY

    Directly controlled by NEXTCORPS INC

  • HORNELL MEDICAL VILLAGE LLC

    C · HOLD REAL EST · NY

    Directly controlled by ST JAMES

  • ROCHESTER BIOVENTURE CENTER INC

    C · BIOTECH INCUB · NY

    Directly controlled by UNIV OF ROCH

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349307451

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