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Nonprofiteer
← NHH-CANAL STREET APARTMENTS INC

Form 990 for tax year 2023

Filed by NHH-CANAL STREET APARTMENTS INC.

Totals

Total revenue
$1,044,709
Total expenses
$1,232,002
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,018,582
Investment income
$26,127
Other revenue
$0
Total assets, end of year
$2,913,870
Total liabilities, end of year
$172,635
Net assets or fund balances, end of year
$2,741,235
Program services expenses (Part IX)
$1,092,620
Management and general expenses
$139,382
Fundraising expenses
$0
Program service expenses (Part III)
$1,092,620

Program services were 88.7% 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.

  • 2a · Program service revenue: Rental income/fees

    total $1,018,582 · related or exempt $1,018,582

  • 3 · Investment income

    total $26,127 · excluded $26,127

  • 7a · Gross sales of assets other than inventory

    securities $290,000

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

    securities $290,000

  • 7c · Gain or loss

    securities $0

  • 7d · Net gain or loss

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $357,644 · program services $336,228 · management and general $21,416

  • 8 · Pension plan contributions

    total $5,333 · program services $5,333

  • 9 · Other employee benefits

    total $26,439 · program services $26,439

  • 10 · Payroll taxes

    total $28,454 · program services $28,454

  • 11a · Fees: management

    total $59,760 · management and general $59,760

  • 11b · Fees: legal

    total $99 · program services $99

  • 11c · Fees: accounting

    total $8,095 · management and general $8,095

  • 11g · Fees: other

    total $47,254 · program services $42,654 · management and general $4,600

  • 13 · Office expenses

    total $70,603 · program services $25,092 · management and general $45,511

  • 14 · Information technology

    total $9,706 · program services $9,706

  • 16 · Occupancy

    total $326,519 · program services $326,519

  • 17 · Travel

    total $95 · program services $95

  • 19 · Conferences, conventions and meetings

    total $5,778 · program services $5,778

  • 22 · Depreciation, depletion and amortization

    total $214,630 · program services $214,630

  • 23 · Insurance

    total $55,937 · program services $55,937

  • 24a · Other expenses: Dues and subscriptions

    total $8,798 · program services $8,798

  • 24b · Other expenses: Professional dev.

    total $6,858 · program services $6,858

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,783 · end of year $233,744

  • 4 · Accounts receivable

    beginning of year $35,077 · end of year $35,222

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,443 · end of year $12,445

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

    $5,699,017

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

    $3,531,029

  • 10c · Land, buildings and equipment, net

    beginning of year $2,382,618 · end of year $2,167,988

  • 11 · Investments: publicly traded securities

    beginning of year $587,907 · end of year $464,471

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,623 · end of year $4,409

  • 19 · Deferred revenue

    beginning of year $27,802 · end of year $51,447

  • 25 · Other liabilities

    beginning of year $105,596 · end of year $116,779

  • 27 · Net assets without donor restrictions

    beginning of year $2,921,807 · end of year $2,741,235

Mission and programs · 2023

Mission

See Schedule O

Activities or mission (Part I)

To provide supportive and affordable housing for adults living singly on low incomes.

  • See Schedule O

    Expenses $998,471 · Revenue $1,018,582

  • See Schedule O

    Expenses $94,149

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kenneth J Valach

    Executive Chair

    Total calculated
    $0
    Hours/week
    1 + 14 related

  • Sanford W Criner Jr

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Michael M Fowler

    Chair Emertius

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Philip A Croker

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joy Horak-Brown

    President & CEO

    Total calculated
    $366,978
    From this org
    $0
    From related orgs
    $366,075
    Other
    $903
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,000 related
    Bonus
    $0 + $66,075 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $903 related
    Filer's total
    $0 + $366,978 related

  • Calvin Tang

    Chief Financial Officer

    Total calculated
    $225,669
    From this org
    $0
    From related orgs
    $210,000
    Other
    $15,669
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,000 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $2,067 related
    Nontaxable benefits
    $0 + $13,602 related
    Filer's total
    $0 + $225,669 related

  • Tamara Foster

    EVP Onsite Ops/Strategic Partnership

    Total calculated
    $246,598
    From this org
    $0
    From related orgs
    $230,000
    Other
    $16,598
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,000 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0 + $7,262 related
    Nontaxable benefits
    $0 + $9,336 related
    Filer's total
    $0 + $246,598 related

  • Ron Lastimosa

    VP Real Estate Development

    Total calculated
    $212,731
    From this org
    $0
    From related orgs
    $200,000
    Other
    $12,731
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $145,000 related
    Bonus
    $0 + $55,000 related
    Other
    $0
    Deferred
    $0 + $3,444 related
    Nontaxable benefits
    $0 + $9,287 related
    Filer's total
    $0 + $212,731 related

  • Diana Gross

    VP Fund Development

    Total calculated
    $179,391
    From this org
    $0
    From related orgs
    $163,500
    Other
    $15,891
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,000 related
    Bonus
    $0 + $23,500 related
    Other
    $0
    Deferred
    $0 + $5,355 related
    Nontaxable benefits
    $0 + $10,536 related
    Filer's total
    $0 + $179,391 related

  • Katie Lamb

    VP Human Resources

    Total calculated
    $179,448
    From this org
    $0
    From related orgs
    $165,000
    Other
    $14,448
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,000 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $1,317 related
    Nontaxable benefits
    $0 + $13,131 related
    Filer's total
    $0 + $179,448 related

  • Stacey Lastovica

    VP Property Management

    Total calculated
    $127,986
    From this org
    $0
    From related orgs
    $114,860
    Other
    $13,126
    Hours/week
    5 + 45 related

  • Ash Hussain

    Director of Finance

    Total calculated
    $151,099
    From this org
    $0
    From related orgs
    $137,500
    Other
    $13,599
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $125,000 related
    Bonus
    $0 + $12,500 related
    Other
    $0
    Deferred
    $0 + $4,290 related
    Nontaxable benefits
    $0 + $9,309 related
    Filer's total
    $0 + $151,099 related

  • Rhonda Bonfield

    Dir. of Foundations and Corp Relations

    Total calculated
    $124,461
    From this org
    $0
    From related orgs
    $111,470
    Other
    $12,991
    Hours/week
    2 + 48 related

  • Katherine Anchondo

    Real Estate Development Manager

    Total calculated
    $134,139
    From this org
    $0
    From related orgs
    $122,103
    Other
    $12,036
    Hours/week
    0 + 50 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
The Executive Committee of New Hope Housing, Inc. reviews and approves the Executive Director's compensation using comparative data for similar organizations as disclosed on Form 990s, salary surveys, and approval by the Executive Committee.

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.

  • Sakowitz SRO Ltd

    SRO Housing · TX

  • Perry SRO Ltd

    SRO Housing · TX

  • Rittenhouse SRO Ltd

    SRO Housing · TX

  • Harrisburg SRO Ltd

    SRO Housing · TX

  • NHH At Reed Ltd

    SRO Housing · TX

  • Dale Carnegie SRO Ltd

    SRO Housing · TX

  • NHH Avenue J Ltd

    SRO Housing · TX

  • NHH Savoy Ltd

    SRO Housing · TX

  • NHH Berry LLC

    SRO Housing · TX

  • NHH Gray LLC

    SRO Housing · TX

  • NHH Ennis LLC

    Senior Housing · TX

Provenance

Return type
form_990
Tax year
2023
Filed
27 January 2025
IRS schema version
2023v6.0
Source object
202530279349300953

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