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Nonprofiteer
← THE JOSEPH M D'ASSERN HOUSING CORPORATION

Form 990 for tax year 2022

Filed by THE JOSEPH M D'ASSERN HOUSING CORPORATION.

Totals

Total revenue
$1,335,857
Total expenses
$1,606,809
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,284,111
Investment income
$2,294
Other revenue
$49,452
Total assets, end of year
$2,602,881
Total liabilities, end of year
$4,398,729
Net assets or fund balances, end of year
-$1,795,848
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $1,284,111 · related or exempt $1,284,111

  • 3 · Investment income

    total $2,294 · excluded $2,294

  • 11a · Other revenue: LAUNDRY AND AIR COND.

    total $49,452 · excluded $49,452

  • 11e · Other revenue, total

    $49,452

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $106,311

  • 8 · Pension plan contributions

    total $5,039

  • 9 · Other employee benefits

    total $24,864

  • 10 · Payroll taxes

    total $9,986

  • 11a · Fees: management

    total $47,316

  • 11b · Fees: legal

    total $20,354

  • 11c · Fees: accounting

    total $14,250

  • 11g · Fees: other

    total $175,317

  • 16 · Occupancy

    total $312,365

  • 20 · Interest

    total $70,322

  • 22 · Depreciation, depletion and amortization

    total $221,750

  • 23 · Insurance

    total $165,221

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $341,643

  • 24b · Other expenses: BAD DEBT

    total $50,000

  • 24c · Other expenses: VACANCY

    total $25,615

  • 24d · Other expenses: RESIDENT EMPLOYEE

    total $15,612

  • 24e · All other expenses

    total $844

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $290,704 · end of year $299,082

  • 2 · Savings and temporary cash investments

    beginning of year $536,960 · end of year $493,289

  • 4 · Accounts receivable

    beginning of year $35,396 · end of year $5,366

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,284 · end of year $34,514

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

    $6,200,674

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

    $4,565,156

  • 10c · Land, buildings and equipment, net

    beginning of year $1,832,064 · end of year $1,635,518

  • 15 · Other assets

    beginning of year $135,112 · end of year $135,112

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,524 · end of year $93,282

  • 23 · Secured mortgages and notes payable

    beginning of year $4,037,486 · end of year $4,008,177

  • 25 · Other liabilities

    beginning of year $244,406 · end of year $297,270

  • 27 · Net assets without donor restrictions

    beginning of year -$1,524,896 · end of year -$1,795,848

Mission and programs · 2022

Mission

THE JOSEPH M. D'ASSERN HOUSING CORP ("THE HOUSING CORP") APARTMENTS AT THE CHILDREN'S VILLAGE HAVE BEEN DEVELOPED AND ARE MAINTAINED FOR THE BENEFIT OF EMPLOYEES AND THEIR IMMEDIATE FAMILIES AND/OR INTERNS OF THE CHILDREN'S VILLAGE. THE HOUSING CORP UNDER THE AUSPICES OF THE CHILDREN'S VILLAGE AND NEW YORK STATE DIVISION OF HOUSING AND COMMUNITY RENEWAL OVERSEE THE APARTMENTS BUILT IN 1969. THE HOUSING CORP IS A NON-STOCK, NON PROFIT HOUSING COMPANY DULY ORGANIZED AND EXISTING UNDER THE PROVISIONS OF ARTICLE II OF THE NEW YORK STATE PRIVATE HOUSING AND FINANCE LAW AND IS TAX EXEMPT UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE.

Activities or mission (Part I)

TO PROVIDE HOUSING TO EMPLOYEES OF THE CHILDREN'S VILLAGE.

  • THE JOSEPH M. D'ASSERN HOUSING APARTMENTS AT THE CHILDREN'S VILLAGE HAVE BEEN DEVELOPED AND ARE MAINTAINED FOR THE BENEFIT OF EMPLOYEES AND/OR STUDENTS OF THE CHILDREN'S VILLAGE AND THEIR IMMEDIATE FAMILIES. THERE ARE 112 APARTMENTS RANGING FROM 2 1/2 TO 51/2 ROOMS (STUDIO TO 3 BEDROOMS).

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Schwartz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Francine Vernon

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • James Mann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeremy Kohomban

    CHAIR/CEO

    Total calculated
    $658,510
    From this org
    $0
    From related orgs
    $595,471
    Other
    $63,039
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $518,812 related
    Bonus
    $0 + $71,882 related
    Other
    $0 + $4,777 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $50,839 related
    Filer's total
    $0 + $658,510 related

  • Mark Scherzer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Goerg

    TREASURER/CFO

    Total calculated
    $339,247
    From this org
    $0
    From related orgs
    $313,136
    Other
    $26,111
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $274,272 related
    Bonus
    $0 + $33,749 related
    Other
    $0 + $5,115 related
    Deferred
    $0 + $11,369 related
    Nontaxable benefits
    $0 + $14,742 related
    Filer's total
    $0 + $339,247 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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE CONTRIBUTION TO THE SECTION 162 EXECUTIVE BONUS PLAN INCLUDES TAX GROSS-PAYMENTS AND ARE APPROVED BY THE BOARD.
PART I, LINE 7
THE ORGANIZATION HAS ESTABLISHED IRS SECTION 162 EXECUTIVE BONUS PLAN AND CONTRIBUTIONS TO THAT PLAN ARE REFLECTED IN COLUMN B (II). THE PLAN WAS APPROVED BY THE BOARD WHEN IT WAS ESTABLISHED AND IS AVAILABLE TO MEMBERS OF SENIOR LEADERSHIP WITH CERTAIN POSITIONS AND LENGTH OF SERVICE. AMOUNTS ARE BASED ON PREAPPROVED PERCENTAGES. PAYMENTS ARE DEPOSITED TO ELEGIBLE PARTICIPANTS ACCOUNTS ON QUARTERLY BASIS.
SCHEDULE J, PART III:
THE COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR, AND OTHER OFFICERS IS DETERMINED BY THE RELATED ORGANIZATION, THE CHILDREN'S VILLAGE INC. THEY USE THE FOLLOWING TO ESTABLISH THE COMPENSATION: 1)FORM 990 OF OTHER ORGANIZATIONS, 2) COMPENSATION SURVEY; 3) COMPENSATION COMMITTEE OF BOARD REVIEW FINDINGS; 4) APPROVAL BY THE BOARD.
SCHEDULE J, PART III, COLUMN B(III):
JEREMY KOHOMBAN RECEIVED CAR ALLOWANCE FOR $2,455 AND IT IS REFLECTED IN COLUMN B(III). AMOUNT IN THIS COLUMN ALSO REPRESENTS CONTRIBUTIONS TO A RETIREMENT PLAN AND TAXABLE GROUP LIFE INSURANCE.

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
14 February 2024
IRS schema version
2022v5.0
Source object
202430469349302398

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