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Nonprofiteer
← EL CEMI HOUSING DEVELOPMENT FUND CO INC

Form 990 for tax year 2023

Filed by EL CEMI HOUSING DEVELOPMENT FUND CO INC.

Totals

Total revenue
$476,441
Total expenses
$511,559
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$476,441
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,564,830
Total liabilities, end of year
$804,813
Net assets or fund balances, end of year
$3,760,017
Program services expenses (Part IX)
$460,402
Management and general expenses
$51,157
Fundraising expenses
$0
Program service expenses (Part III)
$460,402

Program services were 90.0% 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

    total $476,441 · related or exempt $476,441

  • 3 · Investment income

    total $0

  • 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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $76,409 · program services $68,768 · management and general $7,641

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $9,023 · program services $8,121 · management and general $902

  • 11a · Fees: management

    total $36,369 · program services $32,732 · management and general $3,637

  • 11b · Fees: legal

    total $216 · program services $194 · management and general $22

  • 11c · Fees: accounting

    total $7,320 · program services $6,588 · management and general $732

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $270 · program services $243 · management and general $27

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $40,930 · program services $36,837 · management and general $4,093

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $194,790 · program services $175,311 · management and general $19,479

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $4,517 · program services $4,065 · management and general $452

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,222 · program services $4,700 · management and general $522

  • 23 · Insurance

    total $91,648 · program services $82,483 · management and general $9,165

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $44,845 · program services $40,360 · management and general $4,485

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $428 · end of year $224

  • 2 · Savings and temporary cash investments

    beginning of year $12,773 · end of year $10,247

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $50,740 · end of year $51,944

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,651 · end of year $17,171

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

    $4,624,508

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

    $139,664

  • 10c · Land, buildings and equipment, net

    beginning of year $4,490,066 · end of year $4,484,844

  • 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 $400 · end of year $400

  • 17 · Accounts payable and accrued expenses

    beginning of year $737,618 · end of year $309,093

  • 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 $516,007 · end of year $495,720

  • 27 · Net assets without donor restrictions

    beginning of year $3,315,433 · end of year $3,760,017

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

TO PROVIDE PERMANENT AFFORDABLE HOUSING FOR OLDER LOW INCOME HOMELESS PERSONS IN A SUPPORTIVE ENVIRONMENT WITH SOCIAL SERVICES FOR ITS TENANTS.

Activities or mission (Part I)

HOUSING FOR HOMELESS - SINGLE ROOM OCCUPANCY.

  • PERMANENT HOUSING FOR HOMELESS OLDER ADULTS PROVIDING A SUPPORTIVE ENVIRONMENT WITH SOCIAL SERVICES FOR ITS 52 TENANTS.

    Expenses $460,402 · Revenue $476,441

As filed on the 2023 return.

Listed in Part VII

  • RAUL RUSSI

    PRESIDENT

    Total calculated
    $980,006
    From this org
    $0
    From related orgs
    $909,372
    Other
    $70,634
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $698,458 related
    Bonus
    $0 + $210,914 related
    Other
    $0
    Deferred
    $0 + $22,875 related
    Nontaxable benefits
    $0 + $47,759 related
    Filer's total
    $0 + $980,006 related

  • LYMARIS ALBORS

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $842,965
    From this org
    $0
    From related orgs
    $803,886
    Other
    $39,079
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $620,142 related
    Bonus
    $0 + $183,744 related
    Other
    $0
    Deferred
    $0 + $22,579 related
    Nontaxable benefits
    $0 + $16,500 related
    Filer's total
    $0 + $842,965 related

  • JOSE A RODRIGUEZ

    CHIEF LEGAL OFFICER

    Total calculated
    $639,637
    From this org
    $0
    From related orgs
    $602,553
    Other
    $37,084
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $504,163 related
    Bonus
    $0 + $98,390 related
    Other
    $0
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $21,834 related
    Filer's total
    $0 + $639,637 related

  • VICKY GATELL

    CHIEF FINANCIAL OFFICER

    Total calculated
    $497,576
    From this org
    $0
    From related orgs
    $454,869
    Other
    $42,707
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $381,001 related
    Bonus
    $0 + $73,868 related
    Other
    $0
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $27,457 related
    Filer's total
    $0 + $497,576 related

  • MARYBETH HOTALING ESQ

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • ELIEZER RODRIGUEZ ESQ

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CARMEN S MELERO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • ARNIE SEGARRA

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • GILBERT HERNANDEZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I LINE 3
PURSUANT TO THE ORGANIZATION'S BYLAWS, THE ORGANIZATION DELEGATES TO ITS PARENT ENTITY THE HIRING OF THE CEO AND PRESIDENT. THE COMPENSATION OF THE EXECUTIVES IS APPROVED BY THE PARENT ENTITY, WHO HIRES A CONSULTANT TO CONDUCT A STUDY. A STANDING COMPENSATION COMMITTEE OF THE PARENT ENTITY REVIEWS A COMPENSATION STUDY AND VOTES ON HOW TO PROCEED.
PART I LINE 7
BONUSES FOR THE CEO AND PRESIDENT ARE APPROVED BY THE BOARD OF THE PARENT ENTITY. THE REMAINING EXECUTIVE BONUSES ARE APPROVED BY THE CEO.

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
15 May 2025
IRS schema version
2023v6.0
Source object
202531259349302028

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