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Nonprofiteer
← FORDHAM BEDFORD HOUSING CORP

Form 990 for tax year 2022

Filed by FORDHAM BEDFORD HOUSING CORP.

Totals

Total revenue
$7,445,904
Total expenses
$7,019,736
Contributions and grants received
$279,449
Grants paid
$0
Program service revenue
$6,898,119
Investment income
$307,653
Other revenue
-$39,317
Total assets, end of year
$71,176,424
Total liabilities, end of year
$7,489,861
Net assets or fund balances, end of year
$63,686,563
Program services expenses (Part IX)
$6,379,653
Management and general expenses
$448,059
Fundraising expenses
$192,024
Program service expenses (Part III)
$6,379,653

Program services were 90.9% 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)

    $138,537

  • 1f · All other contributions, gifts and grants

    $140,912

  • 2a · Program service revenue: RENTAL MANAGEMENT FEES

    total $5,659,497 · related or exempt $5,659,497

  • 2b · Program service revenue: SOCIAL SERVICE INCOME

    total $428,122 · related or exempt $428,122

  • 2c · Program service revenue: DEVELOPER FEES

    total $810,500 · related or exempt $810,500

  • 3 · Investment income

    total $307,653 · excluded $307,653

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $33,970

  • 8b · Fundraising events: direct expenses

    $73,287

  • 8c · Net income from fundraising events

    total -$39,317 · excluded -$39,317

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

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 $1,837,456 · program services $1,653,711 · management and general $128,622 · fundraising $55,123

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,561,350 · program services $2,305,215 · management and general $179,294 · fundraising $76,841

  • 8 · Pension plan contributions

    total $224,464 · program services $202,018 · management and general $15,712 · fundraising $6,734

  • 9 · Other employee benefits

    total $255,012 · program services $229,511 · management and general $17,851 · fundraising $7,650

  • 10 · Payroll taxes

    total $307,868 · program services $277,081 · management and general $21,551 · fundraising $9,236

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $383,530 · program services $345,177 · management and general $26,847 · fundraising $11,506

  • 12 · Advertising and promotion

    total $59,924 · program services $53,932 · management and general $4,195 · fundraising $1,797

  • 13 · Office expenses

    total $417,125 · program services $375,413 · management and general $29,199 · fundraising $12,513

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $30,000 · program services $27,000 · management and general $2,100 · fundraising $900

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $47,511 · program services $42,760 · management and general $3,326 · fundraising $1,425

  • 23 · Insurance

    total $86,833 · program services $78,150 · management and general $6,078 · fundraising $2,605

  • 24a · Other expenses: AUTO EXPENSE

    total $97,146 · program services $87,431 · management and general $6,800 · fundraising $2,915

  • 24b · Other expenses: NEIGHBORHOOD & BUILDING SVC

    total $198,191 · program services $198,191

  • 24c · Other expenses: TELEPHONE

    total $27,504 · program services $24,754 · management and general $1,925 · fundraising $825

  • 24d · Other expenses: SOCIAL SERVICES

    total $395,508 · program services $395,508

  • 24e · All other expenses

    total $90,314 · program services $83,801 · management and general $4,559 · fundraising $1,954

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,582,932 · end of year $12,900,786

  • 2 · Savings and temporary cash investments

    beginning of year $19,585,301 · end of year $18,229,404

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $7,809,874 · end of year $7,506,748

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $14,754,561 · end of year $15,632,212

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $1,750,502

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

    $1,549,575

  • 10c · Land, buildings and equipment, net

    beginning of year $230,320 · end of year $200,927

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $17,303,635 · end of year $16,706,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $716,744 · end of year $853,841

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $7,943,571 · end of year $6,636,020

  • 27 · Net assets without donor restrictions

    beginning of year $59,406,308 · end of year $58,486,563

  • 28 · Net assets with donor restrictions

    beginning of year $5,200,000 · end of year $5,200,000

Mission and programs · 2022

Mission

FBHC WAS FORMED FOR THE PURPOSE OF PROMOTING, DEVELOPING AND MANAGING LOW AND MODERATE INCOME HOUSING, PROVIDING ASSISTANCE TO LOW INCOME FAMILIES AND COMBATING COMMUNITY DETERIORATION IN THE FORDHAM BEDFORD SECTION AND SURROUNDING AREAS OF THE NORTHWEST BRONX.

Activities or mission (Part I)

SEE SCHEDULE O

  • FBHC PROVIDES DIRECT PROPERTY MANAGEMENT FOR LOW INCOME HOUSING BUILDINGS.

    Expenses $4,703,973 · Revenue $5,659,497

  • FBHC PROVIDES SOCIAL SERVICE TO THE COMMUNITY. THIS CONSISTS OF AFTER-SCHOOL PROGRAMS, SUMMER RECREATIONAL ACTIVITIES FOR THE CHILDREN, ENGLISH AS A SECOND LANGUAGE AND CITIZENSHIP COURSES, AMONG OTHERS.

    Expenses $587,533 · Revenue $428,122

  • FBHC DEVELOPS AND RENOVATES MULTIFAMILY AFFORDABLE RENTAL HOUSING PROJECTS IN THE NORTHWEST BRONX.

    Expenses $1,088,147 · Revenue $810,500

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

Listed in Part VII

  • Heng Ly

    Chief executive officer

    Total calculated
    $396,704
    From this org
    $334,452
    From related orgs
    $0
    Other
    $62,252
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $334,452
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,500
    Nontaxable benefits
    $31,752
    Filer's total
    $396,704

  • John M Reilly

    EXECECUTIVE DIRECTOR

    Total calculated
    $295,371
    From this org
    $246,705
    From related orgs
    $0
    Other
    $48,666
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $246,705
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,598
    Nontaxable benefits
    $24,068
    Filer's total
    $295,371

  • Rosanna Viera

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $250,472
    From this org
    $211,435
    From related orgs
    $0
    Other
    $39,037
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,435
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,373
    Nontaxable benefits
    $19,664
    Filer's total
    $250,472

  • Robert Donovan

    DIRECTOR OF CONSTRUCTION

    Total calculated
    $246,028
    From this org
    $193,553
    From related orgs
    $0
    Other
    $52,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,553
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,249
    Nontaxable benefits
    $33,226
    Filer's total
    $246,028

  • Rachel Nguyen

    Asst. Director fin. services

    Total calculated
    $226,164
    From this org
    $176,688
    From related orgs
    $0
    Other
    $49,476
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $176,688
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,015
    Nontaxable benefits
    $32,461
    Filer's total
    $226,164

  • Gerard Wollweber

    DIRECTOR OF LEASING

    Total calculated
    $218,735
    From this org
    $197,215
    From related orgs
    $0
    Other
    $21,520
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,215
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,569
    Nontaxable benefits
    $1,951
    Filer's total
    $218,735

  • Phuong H Vang

    DIRECTOR OF FINANCIAL SERVICES

    Total calculated
    $203,981
    From this org
    $170,938
    From related orgs
    $0
    Other
    $33,043
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $170,938
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,041
    Nontaxable benefits
    $19,002
    Filer's total
    $203,981

  • Erika Martinez

    Vice President

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Cheryl Harper

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jose Norat

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Eileen Hogan

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Ivan Bohorquez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • William Daley

    Secretary

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Luis Ortega

    President/treasurer

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • S Lemuria Alawode-el

    directir

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Maribel Montilla

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Luis Lugo

    director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 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

  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SERVIAM GARDENS I GP LLC

    REAL ESTATE · NY · income -$76 · assets $371,683

    Directly controlled by FBHC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • JACOBS PLACE LLC

    low income HS · NY · 0.01% owned · general or managing partner

  • SERVIAM GARDENS ASSOCIATES LP

    low income HS · NY · 0.01% owned · general or managing partner

  • SERVIAM TOWERS LLC

    low income HS · NY · 0.01% owned · general or managing partner

  • WEST SIDE BRONX LLC

    low income HS · NY · 0.01% owned · general or managing partner

  • DECATUR PARK LLC

    low income HS · NY · 0.01% owned · general or managing partner

  • CRESTON HEIGHTS LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

  • TIEBOUT GREEN LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

  • MT SHARON LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

  • SERVIAM HEIGHTS LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

  • BRONXVIEW LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

  • PARK GATES LLC

    LOW INCOME HS · NY · 0.01% owned · general or managing partner

Related corporations and trusts

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

  • DECATUR PARK MM CORP

    C Corp · LOW INCOME HS · NY · 100% owned · share of income -$21 · share of assets $1,426 · controlled entity

    Directly controlled by FBHC

  • JACOBS PLACE GP CORP

    C Corp · LOW INCOME HS · NY · 100% owned · share of income -$43 · share of assets $641,006 · controlled entity

    Directly controlled by FBHC

  • SERVIAM TOWERS MM CORP

    C Corp · LOW INCOME HS · NY · 100% owned · share of income -$110 · share of assets $1,379 · controlled entity

    Directly controlled by FBHC

  • WEST SIDE BRONX MM CORP

    C Corp · LOW INCOME HS · NY · 100% owned · share of income -$68 · share of assets $1,218 · controlled entity

    Directly controlled by FBHC

  • 2323 WALTON AVENUE HDFC

    C Corp · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • 182ND STREET HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • WASHINGTON PARK HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • TREMONT ECHO HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • 2172 ANTHONY AVENUE HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • 4673 HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • METRO PARK HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • UPTOWN BRONX HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • JACOBS PLACE HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • CRESTON HEIGHTS MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$69 · share of assets -$53 · controlled entity

    Directly controlled by FBHC

  • TIEBOUT GREEN MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$38 · share of assets $33 · controlled entity

    Directly controlled by FBHC

  • MT SHARON MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$91 · share of assets -$382 · controlled entity

    Directly controlled by FBHC

  • TWO WALTONS HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • WEBSTER RYER HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • PARK & 196TH STREET HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • BURNSIDE HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • SERVIAM HEIGHTS MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$271 · share of assets -$1,144 · controlled entity

    Directly controlled by FBHC

  • WALTON HEIGHTS HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • BRONXVIEW MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$192 · share of assets -$288 · controlled entity

    Directly controlled by FBHC

  • PARK GATES MM CORP

    C CORP · LOW INCOME HS · NY · 100% owned · share of income -$39 · share of assets -$43 · controlled entity

    Directly controlled by FBHC

  • PARK GATES HOUSING DEVELOPMENT FUND CORP

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

  • MOSHOLU CONCOURSE HDFC

    C CORP · LOW INCOME HS · NY · controlled entity

    Directly controlled by FBHC

Provenance

Return type
form_990
Tax year
2022
Filed
20 October 2023
IRS schema version
2022v5.0
Source object
202332999349301708

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