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Nonprofiteer
← SYRACUSE MODEL NEIGHBORHOOD CORP

Form 990 for tax year 2024

Filed by SYRACUSE MODEL NEIGHBORHOOD CORP.

Totals

Total revenue
$3,317,553
Total expenses
$1,573,412
Contributions and grants received
$483,996
Grants paid
$0
Program service revenue
$740,322
Investment income
$2,003,040
Other revenue
$90,195
Total assets, end of year
$1,827,929
Total liabilities, end of year
$497,806
Net assets or fund balances, end of year
$1,330,123
Program services expenses (Part IX)
$1,490,301
Management and general expenses
$83,111
Fundraising expenses
$0
Program service expenses (Part III)
$1,490,301

Program services were 94.7% 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.

  • 1d · Related organizations

    $483,996

  • 2a · Program service revenue: RENTAL INCOME

    total $740,322 · related or exempt $740,322

  • 3 · Investment income

    total $117 · excluded $117

  • 7a · Gross sales of assets other than inventory

    other assets $2,019,678

  • 7b · Less cost or other basis and sales expenses

    other assets $16,755

  • 7c · Gain or loss

    other assets $2,002,923

  • 7d · Net gain or loss

    total $2,002,923 · related or exempt $2,002,923

  • 11a · Other revenue: DEBT FORGIVENESS REVENUNE

    total $90,195 · related or exempt $90,195

  • 11e · Other revenue, total

    $90,195

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $9,250 · management and general $9,250

  • 11c · Fees: accounting

    total $50 · management and general $50

  • 13 · Office expenses

    total $1,757 · program services $86 · management and general $1,671

  • 14 · Information technology

    total $8,073 · program services $5,681 · management and general $2,392

  • 16 · Occupancy

    total $47,347 · program services $44,595 · management and general $2,752

  • 17 · Travel

    total $374 · program services $374

  • 22 · Depreciation, depletion and amortization

    total $41,999 · program services $41,999

  • 23 · Insurance

    total $91,922 · program services $91,922

  • 24a · Other expenses: PROPERTY MANAGEMENT AND

    total $725,915 · program services $725,915

  • 24b · Other expenses: GRANT EXPENSES

    total $419,446 · program services $419,446

  • 24c · Other expenses: SHARED SERVICE EXPENSE

    total $225,000 · program services $158,333 · management and general $66,667

  • 24d · Other expenses: CONTRACT SERVICE PRODVI

    total $1,592 · program services $1,592

  • 24e · All other expenses

    total $687 · program services $358 · management and general $329

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $123,021 · end of year $1,155,647

  • 2 · Savings and temporary cash investments

    beginning of year $36,826 · end of year $34,828

  • 4 · Accounts receivable

    beginning of year $4,003 · end of year $3,741

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,360 · end of year $16,830

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

    $5,073,508

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

    $4,632,947

  • 10c · Land, buildings and equipment, net

    beginning of year $507,330 · end of year $440,561

  • 15 · Other assets

    beginning of year $172,346 · end of year $176,322

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,898 · end of year $10,525

  • 19 · Deferred revenue

    beginning of year $74,151 · end of year $74,775

  • 23 · Secured mortgages and notes payable

    beginning of year $457,773 · end of year $367,578

  • 25 · Other liabilities

    beginning of year $701,082 · end of year $44,928

  • 27 · Net assets without donor restrictions

    beginning of year -$414,018 · end of year $1,330,123

Mission and programs · 2024

Mission

THE MISSION OF THE ORGANIZATION IS TO ENHANCE AND BUILD RESILIENT DIVERSE COMMUNITIES, BY SUPPORTING ECONOMIC GROWTH, CREATIVE COMMUNITY-BASED INITIATIVES, AND QUALITY HOUSING SERVICES IN THE NEIGHBORHOODS IT SERVES.

  • RENTAL AND SALES OF HOUSING TO LOW-MODERATE INCOME FAMILIES.

    Expenses $1,424,456 · Revenue $2,833,440

  • NEIGHBORHOOD PRESERVATION PROGRAM - OPERATING SUPPORT FOR COMMUNITY DEVELOPMENT, NEIGHBORHOOD PRESERVATION ACTIVITIES.

    Expenses $65,845

As filed on the 2024 return.

Listed in Part VII

  • Kerry Quaglia

    BOARD CHAIR/PRESIDENT

    Total calculated
    $219,335
    From this org
    $0
    From related orgs
    $199,399
    Other
    $19,936
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,408 related
    Bonus
    $0 + $9,991 related
    Other
    $0
    Deferred
    $0 + $11,355 related
    Nontaxable benefits
    $0 + $8,581 related
    Filer's total
    $0 + $219,335 related

  • Kitty Rice

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Renee Seals

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Cimone Jordan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Celina Defrancis

    ASSISTANT SECRETARY

    Total calculated
    $119,619
    From this org
    $0
    From related orgs
    $99,165
    Other
    $20,454
    Hours/week
    1 + 40 related

  • Marie Mattison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ayehsa Eversley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise Welch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Arlaina Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tricia Bauer

    CFO

    Total calculated
    $159,015
    From this org
    $0
    From related orgs
    $149,963
    Other
    $9,052
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $134,939 related
    Bonus
    $0 + $4,640 related
    Other
    $0 + $10,384 related
    Deferred
    $0 + $8,953 related
    Nontaxable benefits
    $0 + $99 related
    Filer's total
    $0 + $159,015 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

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 corporations and trusts

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

  • BRIGHTON HOME CORPORATION

    C · RENTAL REAL ESTATE · NY

  • CNY AFFORDABLE PROPERTIES INC

    C · TO OWN AND MANAGE PROPERTY WITHIN SYRACUSE AND CNY · NY

  • ADVANCED ENERGY CONSTRUCTION INC

    C · CONSTRUCTION SERVICE · NY

Provenance

Return type
form_990
Tax year
2024
Filed
19 August 2025
IRS schema version
2024v5.2
Source object
202532319349300708

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