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Nonprofiteer
← BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$339,655
Total expenses
$327,451
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$329,673
Investment income
$1,257
Other revenue
$8,725
Total assets, end of year
$1,976,995
Total liabilities, end of year
$2,496,167
Net assets or fund balances, end of year
-$519,172
Program services expenses (Part IX)
$314,625
Management and general expenses
$12,826
Fundraising expenses
$0
Program service expenses (Part III)
$314,625

Program services were 96.1% 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: HUD TENANT ASSISTANCE

    total $224,233 · related or exempt $224,233

  • 2b · Program service revenue: RENTAL INCOME

    total $105,440 · related or exempt $105,440

  • 3 · Investment income

    total $1,257 · excluded $1,257

  • 11a · Other revenue: MISCELLANEOUS

    total $6,693 · related or exempt $6,693

  • 11b · Other revenue: LAUNDRY & VENDING

    total $1,797 · related or exempt $1,797

  • 11c · Other revenue: TENANT CHARGES

    total $235 · related or exempt $235

  • 11e · Other revenue, total

    $8,725

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $41,842 · program services $41,842

  • 9 · Other employee benefits

    total $4,952 · program services $4,952

  • 10 · Payroll taxes

    total $2,334 · program services $2,334

  • 11a · Fees: management

    total $17,898 · program services $17,898

  • 11c · Fees: accounting

    total $9,327 · management and general $9,327

  • 12 · Advertising and promotion

    total $792 · management and general $792

  • 13 · Office expenses

    total $7,626 · program services $7,626

  • 20 · Interest

    total $60,822 · program services $60,822

  • 22 · Depreciation, depletion and amortization

    total $72,881 · program services $72,881

  • 23 · Insurance

    total $20,331 · program services $20,331

  • 24a · Other expenses: UTILITIES

    total $25,368 · program services $25,368

  • 24b · Other expenses: CONTRACTED SERVICES

    total $22,748 · program services $22,748

  • 24c · Other expenses: CABLE EXPENSE

    total $17,103 · program services $17,103

  • 24d · Other expenses: SUPPLIES

    total $10,774 · program services $10,774

  • 24e · All other expenses

    total $12,653 · program services $9,946 · management and general $2,707

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91 · end of year $28,469

  • 2 · Savings and temporary cash investments

    beginning of year $254,343 · end of year $180,921

  • 4 · Accounts receivable

    beginning of year $5,108 · end of year $4,978

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,474 · end of year $2,540

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

    $3,695,073

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

    $1,942,572

  • 10c · Land, buildings and equipment, net

    beginning of year $1,800,117 · end of year $1,752,501

  • 15 · Other assets

    beginning of year $6,824 · end of year $7,586

  • 17 · Accounts payable and accrued expenses

    beginning of year $76,601 · end of year $39,957

  • 19 · Deferred revenue

    beginning of year $2,776 · end of year $4,531

  • 21 · Escrow or custodial account liability

    beginning of year $6,824 · end of year $7,586

  • 23 · Secured mortgages and notes payable

    beginning of year $2,513,132 · end of year $2,444,093

  • 27 · Net assets without donor restrictions

    beginning of year -$531,376 · end of year -$519,172

Mission and programs · 2023

Mission

BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY, INC. WAS FORMED TO DEVELOP ON A NONPROFIT BASIS A HOUSING PROJECT FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS.

Activities or mission (Part I)

BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY, INC WAS FORMED TO DEVELOP ON A NONPROFIT BASIS A HOUSING PROJECT FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS.

  • OPERATED AN APARTMENT COMPLEX OF 32 UNITS FOR ELDERLY OR HANDICAPPED RESIDENTS UNDER SECTION 202 OF THE HOUSING ACT OF 1959 ACCOUNTABLE TO THE U.S. DEPARTMENT OF HUD.

    Expenses $314,625 · Revenue $338,398

As filed on the 2023 return.

Listed in Part VII

  • MICHAEL D RIEGEL

    BOARD MEMBER/BOARD PRESIDENT

    Total calculated
    $221,101
    From this org
    $0
    From related orgs
    $196,021
    Other
    $25,080
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,021 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,776 related
    Nontaxable benefits
    $0 + $17,304 related
    Filer's total
    $0 + $221,101 related

  • PAMELA BERGER

    BOARD MEMBER/BOARD VP/TREASURER

    Total calculated
    $148,806
    From this org
    $0
    From related orgs
    $135,523
    Other
    $13,283
    Hours/week
    0.5 + 34.5 related

  • BRAD PACKARD

    BOARD MEMBER/BOARD VP/SECRETARY

    Total calculated
    $159,441
    From this org
    $0
    From related orgs
    $151,821
    Other
    $7,620
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,821 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,620 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $159,441 related

  • JOYELLE TEDESCHI

    BOARD MEMBER

    Total calculated
    $137,702
    From this org
    $0
    From related orgs
    $121,182
    Other
    $16,520
    Hours/week
    0.5 + 34.5 related

  • AARON HEJMOWSKI

    CFO

    Total calculated
    $155,537
    From this org
    $0
    From related orgs
    $148,067
    Other
    $7,470
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,067 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,470 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $155,537 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
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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202403129349300830

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