Form 990 for tax year 2023
Filed by 588 Park Place Housing Development Fund Corporation.
Totals
- Total revenue
- $243,261
- Total expenses
- $309,774
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $243,127
- Investment income
- $33
- Other revenue
- $101
- Total assets, end of year
- $0
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $0
- Program services expenses (Part IX)
- $293,068
- Management and general expenses
- $16,706
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $293,068
Program services were 94.6% 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 INCOME
total $243,127 · related or exempt $243,127
-
3 · Investment income
total $33 · excluded $33
-
11a · Other revenue: Reimbursements
total $101 · related or exempt $101
-
11e · Other revenue, total
$101
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $16,706 · management and general $16,706
-
11b · Fees: legal
total $5,840 · program services $5,840
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $19,155 · program services $19,155
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $5,287 · program services $5,287
-
14 · Information technology
total $705 · program services $705
-
15 · Royalties
total $0
-
16 · Occupancy
total $38,170 · program services $38,170
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $336 · program services $336
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $77,742 · program services $77,742
-
23 · Insurance
total $21,518 · program services $21,518
-
24a · Other expenses: REPAIRS AND MAINTENANCE
total $27,942 · program services $27,942
-
24b · Other expenses: Social Service Fees
total $14,500 · program services $14,500
-
24c · Other expenses: Other Reimbursements
total $62,204 · program services $62,204
-
24d · Other expenses: BAD DEBT EXPENSE
total $19,669 · program services $19,669
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $25,317
-
4 · Accounts receivable
beginning of year $15,240
-
9 · Prepaid expenses and deferred charges
beginning of year $13,695
-
10a · Land, buildings and equipment: cost or other basis
$2,210,205
-
10c · Land, buildings and equipment, net
beginning of year $1,053,690
-
15 · Other assets
beginning of year $204,358
-
17 · Accounts payable and accrued expenses
beginning of year $76,491
-
19 · Deferred revenue
beginning of year $789
-
23 · Secured mortgages and notes payable
beginning of year $2,110,943
-
25 · Other liabilities
beginning of year $9,699
-
27 · Net assets without donor restrictions
beginning of year -$885,622
Mission and programs · 2023
Mission
THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA.The entity transfered its assets to another orgainization on June 28, 2024.
Activities or mission (Part I)
THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA. The entity transfered its assets to another orgainization on June 28, 2024.
-
THE ORGANIZATIONS APARTMENT BUILDING HAS A CAPACITY OF 8 APARTMENTS WHICH WERE 100 OCCUPIED DURING THE YEAR. The entity transfered its assets to another orgainization on June 28, 2024.
Expenses $293,068 · Revenue $243,127
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
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
- not reported + $244,820 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $10,646 related
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $255,466 related
-
Jessica Yager
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Dany Cunningham
President
- Total calculated
- $0
- Hours/week
- 0.5
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.
-
501 c 3 · Economic, social racial justice · NY
Directly controlled by NO
Assets distributed on this return
Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.
-
JOE FAC Infinity LLC
$952,135
Liquidation · All Assets · Jun 28, 2024 · LLC
-
JOE FAC Infinity LLC
$949,530
Disposition · All Assets · Jun 30, 2024 · LLC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511329349302016
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