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Nonprofiteer
← BRONX POINT HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by BRONX POINT HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$3,226,736
Total expenses
$3,226,736
Contributions and grants received
$3,226,736
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,228,224
Total liabilities, end of year
$1,228,224
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$3,226,736
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,226,736

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $3,226,736

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: BUILDING CONSTRUCTION

    total $3,226,736 · program services $3,226,736

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,152 · end of year $502,559

  • 4 · Accounts receivable

    beginning of year $7,070,854 · end of year $725,665

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,075,006 · end of year $1,228,224

Mission and programs · 2023

Mission

THE BRONX POINT HDFC SERVES AS THE NOMINEE OWNER FOR THE BRONX POINT PROJECT THAT WILL PROVIDE AFFORDABLE HOUSING, A MUSEUM TO CELEBRATE HIP HOP HISTORY AND CULTURE, PROVIDE RETAIL OPPORTUNITIES, AN EARLY CHILDHOOD CENTER, AND COMMUNITY SERVICES PROGRAMMING. BRONX POINT HAS 7 CONDOMINIUMS, OF WHICH 3 ARE RESIDENTIAL WITH 542 AFFORDABLE HOUSING UNITS.

Activities or mission (Part I)

THE BRONX POINT HDFC SERVES AS THE NOMINEE OWNER FOR THE BRONX POINT.

  • THE CREATION OF THE PUBLIC PARK AND ESPLANADE AT BRONX POINT.

    Expenses $3,226,736

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Douglas Tween

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Janice Hart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Roger Begelman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Eileen Torres

    EXECUTIVE DIRECTOR

    Total calculated
    $411,236
    From this org
    $0
    From related orgs
    $325,819
    Other
    $85,417
    Hours/week
    0.3 + 36.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,333 related
    Bonus
    $0
    Other
    $0 + $486 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $52,417 related
    Filer's total
    $0 + $411,236 related

  • Gordon Miller

    CFO

    Total calculated
    $274,973
    From this org
    $0
    From related orgs
    $247,308
    Other
    $27,665
    Hours/week
    0.3 + 36.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,038 related
    Bonus
    $0
    Other
    $0 + $270 related
    Deferred
    $0 + $10,000 related
    Nontaxable benefits
    $0 + $17,665 related
    Filer's total
    $0 + $274,973 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 EXECUTIVE DIRECTOR IS DETERMINED BY THE RELATED ENTITY BRONXWORKS, 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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 April 2025
IRS schema version
2023v6.0
Source object
202501199349300100

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