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← 129 23RD STREET HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by 129 23RD STREET HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$154,553
Total expenses
$142,536
Contributions and grants received
$94,500
Grants paid
$0
Program service revenue
$59,860
Investment income
$0
Other revenue
$193
Total assets, end of year
$503,916
Total liabilities, end of year
$163,740
Net assets or fund balances, end of year
$340,176
Program services expenses (Part IX)
$82,423
Management and general expenses
$60,113
Fundraising expenses
$0
Program service expenses (Part III)
$82,423

Program services were 57.8% 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.

  • 1d · Related organizations

    $84,500

  • 1e · Government grants (contributions)

    $10,000

  • 2a · Program service revenue: RENTAL INCOME

    total $59,860 · related or exempt $59,860

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $193 · excluded $193

  • 11e · Other revenue, total

    $193

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $3,801 · management and general $3,801

  • 11b · Fees: legal

    total $802 · management and general $802

  • 11c · Fees: accounting

    total $12,500 · management and general $12,500

  • 11g · Fees: other

    total $25,681 · program services $25,681

  • 13 · Office expenses

    total $2,924 · program services $1,098 · management and general $1,826

  • 16 · Occupancy

    total $41,854 · program services $41,854

  • 20 · Interest

    total $780 · program services $780

  • 22 · Depreciation, depletion and amortization

    total $28,791 · management and general $28,791

  • 23 · Insurance

    total $12,309 · management and general $12,309

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $9,002 · program services $9,002

  • 24b · Other expenses: MISC. EXPENSES

    total $4,008 · program services $4,008

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $84 · management and general $84

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $29,350 · end of year $9,287

  • 4 · Accounts receivable

    beginning of year $5,602 · end of year $20,973

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,068 · end of year $1,921

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

    $818,690

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

    $350,944

  • 10c · Land, buildings and equipment, net

    beginning of year $463,268 · end of year $467,746

  • 15 · Other assets

    beginning of year $3,308 · end of year $3,989

  • 17 · Accounts payable and accrued expenses

    beginning of year $171,129 · end of year $147,508

  • 19 · Deferred revenue

    end of year $15

  • 21 · Escrow or custodial account liability

    beginning of year $3,308 · end of year $3,989

  • 25 · Other liabilities

    beginning of year $0 · end of year $12,228

  • 27 · Net assets without donor restrictions

    beginning of year $328,159 · end of year $340,176

Mission and programs · 2023

Mission

THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING FOR QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA.

Activities or mission (Part I)

THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING FOR QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN NEW YORK AREA.

  • THE CORPORATION WAS FORMED TO PROVIDE LOW-INCOME HOUSING FACILITIES AND OPERATE 6 RESIDENTIAL UNITS LOCATED AT 713 THIRD AVENUE IN BROOKLYN, NEW YORK (THE "PROJECT") UNDER THE CONFINES OF THE REGULATORY AGREEMENTS WITH THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT ("NYC HPD").

    Expenses $82,423 · Revenue $59,860

As filed on the 2023 return.

Listed in Part VII

  • MICHELLE DE LA UZ

    SECRETARY

    Total calculated
    $255,466
    From this org
    $0
    From related orgs
    $244,820
    Other
    $10,646
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,820 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,646 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $255,466 related

  • DANY CUNNINGHAM

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JESSICA YAGER

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 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
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349313598

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