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← TB HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by TB HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$276,508
Total expenses
$451,205
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$268,450
Investment income
$22
Other revenue
$8,036
Total assets, end of year
$5,644,284
Total liabilities, end of year
$6,263,323
Net assets or fund balances, end of year
-$619,039
Program services expenses (Part IX)
$430,570
Management and general expenses
$20,635
Fundraising expenses
$0
Program service expenses (Part III)
$430,570

Program services were 95.4% 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 REVENUE

    total $268,450 · related or exempt $268,450

  • 3 · Investment income

    total $22 · excluded $22

  • 11a · Other revenue: LAUNDRY & VENDING

    total $4,540 · related or exempt $4,540

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $3,111 · related or exempt $3,111

  • 11c · Other revenue: TENANT CHARGES

    total $385 · related or exempt $385

  • 11e · Other revenue, total

    $8,036

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $63,078 · program services $63,078

  • 9 · Other employee benefits

    total $10,718 · program services $10,718

  • 10 · Payroll taxes

    total $5,044 · program services $5,044

  • 11a · Fees: management

    total $27,436 · program services $27,436

  • 11b · Fees: legal

    total $10,839 · management and general $10,839

  • 12 · Advertising and promotion

    total $789 · management and general $789

  • 13 · Office expenses

    total $13,361 · program services $6,414 · management and general $6,947

  • 22 · Depreciation, depletion and amortization

    total $173,098 · program services $173,098

  • 23 · Insurance

    total $17,832 · program services $17,832

  • 24a · Other expenses: MAINTENANCE & REPAIRS

    total $67,616 · program services $67,616

  • 24b · Other expenses: UTILITIES

    total $44,892 · program services $44,892

  • 24c · Other expenses: SERVICE COORDINATOR

    total $13,987 · program services $13,987

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $2,060 · management and general $2,060

  • 24e · All other expenses

    total $455 · program services $455

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,435 · end of year $9,541

  • 4 · Accounts receivable

    beginning of year $43,682 · end of year $3,205

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,529 · end of year $16,027

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

    $6,867,568

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

    $1,455,097

  • 10c · Land, buildings and equipment, net

    beginning of year $5,572,613 · end of year $5,412,471

  • 15 · Other assets

    beginning of year $225,510 · end of year $203,040

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,824 · end of year $13,392

  • 19 · Deferred revenue

    beginning of year $1,475 · end of year $1,492

  • 21 · Escrow or custodial account liability

    beginning of year $12,712 · end of year $12,339

  • 25 · Other liabilities

    beginning of year $6,236,100 · end of year $6,236,100

  • 27 · Net assets without donor restrictions

    beginning of year -$444,342 · end of year -$619,039

Mission and programs · 2022

Mission

TO PROVIDE ELDERLY PERSONS OF LOW INCOME WITH SAFE, SANITARY AND AFFORDABLE HOUSING FACILITIES.

  • OPERATED AN APARTMENT BUILDING THAT WILL PROVIDE ELDERLY PERSONS OF LOW INCOME WITH SAFE, SANITARY AND AFFORDABLE HOUSING FACILITIES.

    Expenses $430,570 · Revenue $276,486

As filed on the 2022 return.

Listed in Part VII

  • Elizabeth Huckabone

    BOARD MEMBER/BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • Michael Riegel

    BOARD MEMBER/BOARD VP AND SECRETARY

    Total calculated
    $214,003
    From this org
    $0
    From related orgs
    $191,328
    Other
    $22,675
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,328 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,943 related
    Nontaxable benefits
    $0 + $15,732 related
    Filer's total
    $0 + $214,003 related

  • Sean McKinnie

    BOARD MEMBER/BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Aaron Hejmowski

    CFO

    Total calculated
    $161,299
    From this org
    $0
    From related orgs
    $138,293
    Other
    $23,006
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,293 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,274 related
    Nontaxable benefits
    $0 + $15,732 related
    Filer's total
    $0 + $161,299 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
ALL EMPLOYEES ARE PAID BY BELMONT HOUSING RESOURCES FOR WNY, INC., A RELATED ENTITY. BELMONT'S COMPENSATION PROGRAM IS DEVELOPED BY SENIOR MANAGEMENT, THE HUMAN RESOURCES MANAGER, AND AN EMPLOYEE BENEFITS AND COMPENSATION CONSULTING FIRM, AND REVIEWED BY THE HR AND COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THIS COMPENSATION PROGRAM APPLIES TO ALL STAFF, INCLUDING OFFICERS. IN ADDITION, ALL COMPENSATION OF OFFICERS IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION PROGRAM INCLUDED MARKET PRICING AND JOB SLOTTING WITHIN ESTABLISHED SALARY GRADES AND RANGES BASED ON INFORMATION PROVIDED BY THE INDEPENDENT CONSULTING FIRM.

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.

  • CAMBRIA COMMONS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • LANCASTER LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • COLONY RUN TOWNHOUSES LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • WOODLAND PLACE APARTMENTS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • SOUTHWIND LANDING APARTMENTS LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • EAST SIDE HOUSING LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • SHAWNEE LANDING TOWNHOUSES LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ARTSPACE AFFORDABLE HOUSING LP

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • BELMONT ARTSPACE LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • TRUE BETHEL TOWNHOMES LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • TRUE BETHEL TOWNHOMES MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • BELLAMY COMMONS LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ELIM TOWNHOMES MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ELIM TOWNHOMES LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ALBERTA PLACE LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • ALBERTA PLACE MM LLC

    PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

Related corporations and trusts

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

  • ATTICA COLONY INC

    C · PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

  • WOODLAND GENERAL INC

    C · PROVIDE AFFORDABLE HOUSING OPPORTUNITIES · NY

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202441349349305269

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