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Nonprofiteer
← STANTON NORFOLK INC

Form 990 for tax year 2023

Filed by STANTON NORFOLK INC.

Totals

Total revenue
$4,998,959
Total expenses
$4,738,643
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,862,505
Investment income
$21
Other revenue
$136,433
Total assets, end of year
$5,610,868
Total liabilities, end of year
$1,150,310
Net assets or fund balances, end of year
$4,460,558
Program services expenses (Part IX)
$3,270,762
Management and general expenses
$1,467,881
Fundraising expenses
$0
Program service expenses (Part III)
$3,270,762

Program services were 69.0% 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: PROPERTY MGMT FEES

    total $3,514,099 · related or exempt $3,514,099

  • 2b · Program service revenue: COMMERCIAL RENT

    total $890,901 · related or exempt $890,901

  • 2c · Program service revenue: RESTORATION AND REPAIR

    total $396,005 · related or exempt $396,005

  • 2d · Program service revenue: LOANS INTEREST INCOME

    total $61,500 · related or exempt $61,500

  • 3 · Investment income

    total $21 · excluded $21

  • 11a · Other revenue: MARKETING INCOME

    total $99,000 · related or exempt $99,000

  • 11b · Other revenue: MISCELLANEOUS

    total $24,033 · related or exempt $24,033

  • 11c · Other revenue: REAL ESTATE TAXES

    total $13,400 · related or exempt $13,400

  • 11e · Other revenue, total

    $136,433

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $200,612 · program services $80,245 · management and general $120,367

  • 7 · Other salaries and wages

    total $2,619,507 · program services $2,027,028 · management and general $592,479

  • 8 · Pension plan contributions

    total $72,330 · program services $56,538 · management and general $15,792

  • 9 · Other employee benefits

    total $442,547 · program services $337,436 · management and general $105,111

  • 10 · Payroll taxes

    total $321,127 · program services $240,845 · management and general $80,282

  • 11a · Fees: management

    total $219,094 · management and general $219,094

  • 11b · Fees: legal

    total $9,229 · program services $5,807 · management and general $3,422

  • 11g · Fees: other

    total $145,771 · program services $91,717 · management and general $54,054

  • 13 · Office expenses

    total $49,341 · program services $36,581 · management and general $12,760

  • 14 · Information technology

    total $6,621 · program services $4,166 · management and general $2,455

  • 16 · Occupancy

    total $348,326 · program services $261,244 · management and general $87,082

  • 22 · Depreciation, depletion and amortization

    total $23,137 · program services $17,353 · management and general $5,784

  • 24a · Other expenses: VACANCY LOSS

    total $83,554 · management and general $83,554

  • 24b · Other expenses: BAD DEBTS

    total $75,640 · management and general $75,640

  • 24c · Other expenses: SURCHARGE FEE

    total $68,488 · program services $68,488

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $32,088 · program services $24,066 · management and general $8,022

  • 24e · All other expenses

    total $21,231 · program services $19,248 · management and general $1,983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $250 · end of year $250

  • 2 · Savings and temporary cash investments

    beginning of year $1,954,589 · end of year $2,018,418

  • 4 · Accounts receivable

    beginning of year $197,162 · end of year $167,291

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,509 · end of year $57,186

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

    $149,993

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

    $142,586

  • 10c · Land, buildings and equipment, net

    beginning of year $17,763 · end of year $7,407

  • 15 · Other assets

    beginning of year $3,387,933 · end of year $3,360,316

  • 17 · Accounts payable and accrued expenses

    beginning of year $427,466 · end of year $408,748

  • 25 · Other liabilities

    beginning of year $934,498 · end of year $741,562

  • 27 · Net assets without donor restrictions

    beginning of year $4,200,242 · end of year $4,460,558

Mission and programs · 2023

Mission

TO PROMOTE, PRESERVE, MANAGE, AND MAINTAIN AFFORDABLE HOUSING; PROVIDE ASSISTANCE AND SPACE FOR SMALL BUSINESSES THAT BENEFIT THE COMMUNITY; AND TO CO-ORDINATE RELATED TENANT SERVICES.

Activities or mission (Part I)

STANTON NORFOLK INC., ("STANTON") WAS ESTABLISHED TO PROMOTE AFFORDABLE HOUSING BY ASSISTING TENANTS TO OBTAIN AND MAINTAIN QUALIFICATION FOR GOVERNMENT AND PRIVATE HOUSING ASSISTANCE PROGRAMS, ACTING AS LIAISON BETWEEN TENANTS AND BUILDING OWNERS, AND CRAFTING SOLUTIONS TO ALLOW TENANTS WITH FINANCIAL OR OTHER PROBLEMS TO AVOID EVICTION. STANTON MANAGES ALL OF ITS PARENT ORGANIZATION, ASIAN AMERICANS FOR EQUALITY, INC.'S ("AAFE") HOUSING DEVELOPMENTS. CURRENTLY, STANTON OVERSEES IN EXCESS OF 500 AFFORDABLE HOUSING UNITS LOCATED IN LOWER MANHATTAN. AAFE AND ITS LIMITED PARTNERSHIPS HAVE ENTERED INTO SEVERAL PROPERTY MANAGEMENT AGREEMENTS WITH STANTON TO PROVIDE FOR, AMONG OTHER MATTERS, TENANT ASSISTANCE, PROPERTY ADMINISTRATION, RENTAL MANAGEMENT AND REPAIR, AND STAFF SUPERVISION.

  • AFFORDABLE HOUSING: PROMOTION, PRESERVATION, MANAGEMENT, AND MAINTENANCE OF AFFORDABLE HOUSING - INCLUDING COORDINATING TENANT SERVICES. STANTON OVERSEES IN EXCESS OF 900 AFFORDABLE HOUSING UNITS LOCATED IN LOWER MANHATTAN AND QUEENS.

    Expenses $3,270,762 · Revenue $4,998,938

As filed on the 2023 return.

Listed in Part VII

  • HSUEH LAM YAN

    SECRETARY

    Total calculated
    $200,614
    From this org
    $178,281
    From related orgs
    $0
    Other
    $22,333
    Hours/week
    24 + 13 related

    Schedule J breakdown matched by us

    Base
    $178,281
    Bonus
    $0
    Other
    $0
    Deferred
    $6,544
    Nontaxable benefits
    $15,789
    Filer's total
    $200,614

  • MY T CHANG

    VP/CHIEF OF STAFF

    Total calculated
    $147,904
    From this org
    $0
    From related orgs
    $139,860
    Other
    $8,044
    Hours/week
    1 + 37 related

  • HUI-YUAN NELSON CHAN

    TREASURER

    Total calculated
    $217,063
    From this org
    $0
    From related orgs
    $168,900
    Other
    $48,163
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,812 related
    Nontaxable benefits
    $0 + $41,351 related
    Filer's total
    $0 + $217,063 related

  • THOMAS YU

    PRESIDENT/EXECUTIVE DIRECTOR

    Total calculated
    $345,309
    From this org
    $0
    From related orgs
    $279,045
    Other
    $66,264
    Hours/week
    3 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,045 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,754 related
    Nontaxable benefits
    $0 + $56,510 related
    Filer's total
    $0 + $345,309 related

  • JOY SUZANNE GRANADO

    CHIEF ACCOUNTING OFFICER

    Total calculated
    $220,591
    From this org
    $0
    From related orgs
    $192,545
    Other
    $28,046
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,545 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,616 related
    Nontaxable benefits
    $0 + $20,430 related
    Filer's total
    $0 + $220,591 related

  • YUN TIN SALLY NG

    MANAGER, ACCCOUNTANT & CONTROLLER

    Total calculated
    $142,891
    From this org
    $120,321
    From related orgs
    $0
    Other
    $22,570
    Hours/week
    35 + 1 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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE PRESIDENT/EXECUTIVE DIRECTOR IS ESTABLISHED BY THE RELATED ENTITY ASIAN AMERICANS FOR EQUALITY, INC.

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
5 November 2024
IRS schema version
2023v5.1
Source object
202403139349301120

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