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← BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2022

Filed by BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$29,782,334
Total expenses
$19,907,645
Contributions and grants received
$15,836,507
Grants paid
$0
Program services expenses (Part IX)
$18,168,100
Management and general expenses
$648,125
Fundraising expenses
$1,091,420
Program service expenses (Part III)
$18,168,100

Program services were 91.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • BRENDA ROSEN

    PRESIDENT & CEO

    Total calculated
    $600,372
    From this org
    $0
    From related orgs
    $587,598
    Other
    $12,774
    Hours/week
    12.24 + 22.76 related

    Schedule J breakdown matched by us

    Base
    $0 + $487,598 related
    Bonus
    $0 + $100,000 related
    Other
    $0
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $574 related
    Filer's total
    $0 + $600,372 related

  • MICHAEL FRANCO

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.58

  • DAVID PICKET

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • PHILIP E SILVERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.38

  • BEN STACKS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 0.36 related

  • MICHAEL RYAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.35 + 0.11 related

  • RICHARD ROBERTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.38

  • NICHOLAS TSANG

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.19 related

  • DAVID WALSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.46 + 0.14 related

  • KARA MCSHANE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.17

  • MICHAEL LASCHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.23

  • ANNIE TIRSCHWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.23

  • PETER EZERSKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.23

  • KIRK GOODRICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.23

  • MICHAEL WERNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.35

  • ANDY D'AMICO

    DIRECTOR (AS OF 7/8/2022)

    Total calculated
    $0
    Hours/week
    0.12

  • MARK LEVY

    DIRECTOR (AS OF 11/3/2022)

    Total calculated
    $0
    Hours/week
    0.06

  • KEVIN MORAN

    CFO

    Total calculated
    $382,088
    From this org
    $0
    From related orgs
    $338,301
    Other
    $43,787
    Hours/week
    12.24 + 22.76 related

    Schedule J breakdown matched by us

    Base
    $0 + $338,301 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $31,587 related
    Filer's total
    $0 + $382,088 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 — 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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
BREAKING GROUND ISSUED A BONUS TO AN OFFICER IN CALENDAR YEAR 2022: PRESIDENT & CEO, BRENDA ROSEN. THE BONUS WAS AUTHORIZED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS BASED ON MS. ROSEN HAVING MET CERTAIN PERFORMANCE BASED OBJECTIVE CRITERIA.THE BOARD'S DECISION-MAKING PROCESS IS MEMORIALIZED IN BOARD COMMITTEE MINUTES.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202303109349300235

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