2024-11-13T18:51:29-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 020663534 CABRINI HOUSING DEVELOPMENT FUND CORPORATION CABR 2126736262 220 EAST 19TH STREET NEW YORK NY 10003 DAVID ARDITTI ASSISTANT TREASURER 2123586265 2024-11-13 1 1 GARRETT M HIGGINS P00543209 9143818900 2024-11-06 2023 2024-10-15 13:58:12Z PATRICIA KRASNAUSKY 220 EAST 19TH STREET NEW YORK NY 10003 932662 0 0928 X WWW.CABRINI-ELDERCARE.ORG X 2002 NY CABRINI HOUSING DEVELOPMENT FUND CORPORATION (HDFC) BEGAN ITS OPERATIONS IN OCTOBER 2005 TO PROVIDE AFFORDABLE HOUSING TO THE VERY LOW INCOME AND HANDICAPPED, ELDERLY POPULATION. THE GOAL: TO MAXIMIZE RESIDENTS ABILITY TO MAINTAIN THEIR INDEPENDENCE WHILE "AGING IN PLACE." THE RESIDENCE PROVIDES SECURITY, COMMUNITY, AND CONTINUITY, IMPORTANT HOUSING FEATURES FOR AGING RESIDENTS THAT OTHER HOUSING ASSISTANCE PROGRAMS MAY NOT PROVIDE. CONSISTING OF 70 ONE-BEDROOM APARTMENTS, CABRINI HDFC HOUSED 91 RESIDENTS IN 2023, OF WHICH 65 OF THE HOUSEHOLD UNITS ARE CATEGORIZED AS EXTREMELY LOW INCOME (LESS THAN $29,650). VERY LOW INCOME IN THE NYC REGION IS DEFINED AS A HOUSEHOLD WITH AN INCOME OF LESS THAN $49,450 FOR A ONE PERSON HOUSEHOLD AND $56,500 FOR A TWO PERSON HOUSEHOLD. 7 6 0 10 0 0 0 672208 873540 245681 393 369 1824 14404 875757 932662 0 0 0 0 0 0 0 0 0 1148818 1178863 1148818 1178863 -273061 -246201 11664805 11416128 12231607 12229131 -566802 -813003 X IT IS THE MISSION OF CABRINI APARTMENTS TO EXTEND THE INDEPENDENCE AND INCREASE THE QUALITY OF LIFE OF LOW INCOME AND MOBILITY IMPAIRED SENIOR CITIZENS THROUGH THE PROVISION OF SAFE, AFFORDABLE HOUSING IN CONJUNCTION WITH SOCIAL ACTIVITIES AND LINKING SUPPORT SERVICES. THESE SERVICES WILL BE PROVIDED INCORPORATING THE CORE VALUES OF CABRINI: COMPASSION. RESPECT. DIGNITY. EXCELLENCE. 0 0 1082453 0 245681 SEE SCHEDULE OCABRINI APARTMENTS IS A HUD 202 SUBSIDIZED INDEPENDENT SENIOR HOUSING FACILITY, LOCATED IN THE GRAMERCY PARK SECTION OF MANHATTAN. THE PROJECT IS SPONSORED BY CABRINI OF WESTCHESTER, A MINISTRY OF THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS. ENVISIONED IN 2000 AND OPENED IN 2005 ITS MISSION IS TO SERVE THOSE INDIVIDUALS WHOSE VERY LIMITED INCOME HAS COMPROMISED THEIR ABILITY TO FIND SAFE, ACCESSIBLE, AND AFFORDABLE HOUSING, AND TO DO SO IN A DIGNIFIED AND SUPPORTIVE ENVIRONMENT.CABRINI APARTMENTS IS COMPRISED OF 70 ONE-BEDROOM APARTMENTS AND 1 TWO BEDROOM APARTMENT FOR A LIVE-IN SUPERINTENDENT. SIX APARTMENTS ARE DESIGNED PARTICULARLY FOR THOSE WITH PHYSICAL DISABILITIES. A LARGE COMMUNITY ROOM AND KITCHEN, A LIBRARY/CONFERENCE ROOM, LAUNDRY ROOM AND GAME ROOM ARE AN INTEGRAL PART OF THE COMMUNITY. A LARGE FURNISHED AND LANDSCAPED COURTYARD AND A DECK ON THE TOP FLOOR ADD TO THE AMENITIES AVAILABLE TO ALL. OFFICE SPACE FOR STAFF OCCUPIES ONE HALL OFF A GRACIOUS LOBBY WHERE A RECEPTION AREA IS STAFFED FOR SECURITY PURPOSES. A FULL TIME MANAGER OVERSEES THE CABRINI APARTMENTS AND A TENANT COORDINATOR IS EMPLOYED WHOSE RESPONSIBILITY IS TO IDENTIFY NEEDS OF THE TENANTS, LINK SERVICES, ADVOCATE WITH THIRD PARTIES, COMPLETE MUNICIPAL APPLICATIONS FOR BENEFITS, AND COORDINATE EDUCATIONAL AND INFORMATION LECTURES RELATED TO AGING ISSUES AND OTHER SOCIAL ACTIVITIES. ALL EXPENSES OF CABRINI APARTMENTS ARE DIRECTLY RELATED TO PROVIDING SERVICES TO ACHIEVE THE GOALS OF CABRINI HDFCS MISSION. 1082453 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DAVID ARDITTI 9146936800 115 BROADWAY DOBBS FERRY NY 10522 PATRICIA KRASNAUSKY PRESIDENT 0.10 37.40 X X 0 313031 40676 JAMES MIGLIORE CHAIR 0.20 0.00 X X 0 0 0 SR CATHERINE GARRY MSC VICE CHAIR 0.10 0.60 X X 0 0 0 JAMES LEE ESQ TREASURER 0.10 0.00 X X 0 0 0 SR ARLENE VAN DUSEN MSC SECRETARY 0.10 0.60 X X 0 0 0 DONALD AMORUSO DIRECTOR 0.10 0.70 X 0 0 0 DEBORAH LYNCH DIRECTOR 0.10 0.50 X 0 0 0 ROBERT DAVIS KENNEDY MD DIRECTOR, THRU 12/2023 0.10 0.00 X 0 0 0 DAVID ARDITTI ASSISTANT TREASURER 0.10 37.40 X 0 243497 89292 JUDY CONNOLLY ASSISTANT SECRETARY, THRU 07/2023 0.10 37.40 X 0 39116 12692 0 595644 142660 0 0 1 0 SECURITAS SECURITY SERVICES USA INC 1412 BROADWAY NEW YORK NY 10018 SECURITY 189576 1 672208 672208 RENTAL INCOME 531110 245681 245681 245681 369 369 13128 0 13128 13128 13128 LAUNDRY AND VENDING MA 900099 1238 1238 MISCELLANEOUS 900099 38 38 1276 932662 245681 0 14773 X 60000 60000 2617 2617 18750 18750 389502 389502 21151 8735 12416 271751 271751 300 300 304052 304052 47118 47118 CONTRACTS 37549 37549 REPAIRS AND MAINTENANCE 21371 21371 MISCELLANEOUS 4702 2375 2327 1178863 1082453 96410 0 4360 3980 890 927 1306 123561 7002 7598 16094629 5106095 11215091 10988534 436156 291528 11664805 11416128 166753 153531 1517 1029 19853 22083 11996200 11996200 47284 56288 12231607 12229131 X -566802 -813003 0 0 -566802 -813003 11664805 11416128 -246201 0 X X 0 1 X 0 0 X 589569 606274 636128 654865 672208 3159044 202966 199009 198687 218675 245681 1065018 792535 805283 834815 873540 917889 4224062 0 0 0 4224062 1571 673 447 393 13497 16581 1571 673 447 393 13497 16581 25183 3042 11635 1824 1276 42960 819289 808998 846897 875757 932662 4283603 0.98610 0.98470 0.00390 0.00110 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING MACHINES - 2019 AMOUNT: $ 2,289. 2020 AMOUNT: $ 1,176. 2021 AMOUNT: $ 695. 2022 AMOUNT: $ 1,184. 2023 AMOUNT: $ 1,238. MISCELLANEOUS - 2019 AMOUNT: $ 22,894. 2020 AMOUNT: $ 1,866. 2021 AMOUNT: $ 10,940. 2022 AMOUNT: $ 640. 2023 AMOUNT: $ 38. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 5000000 5000000 10580690 4769311 5811379 51483 25646 25837 462456 311138 151318 10988534 DUE TO RELATED PARTY 56288 56288 X 932662 0 932662 0 932662 1178863 0 1178863 0 1178863 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT. PART X, LINE 2: THE ENTITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENTITY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2020. 0 0 0 0 0 0 0 0 0 PATRICIA KRASNAUSKY PRESIDENT 0 313031 0 0 0 0 0 15950 0 24726 0 353707 0 0 DAVID ARDITTI ASSISTANT TREASURER 0 243497 0 0 0 0 0 13119 0 76173 0 332789 0 0 PART I, LINE 3 COMPENSATION PAID TO THE PRESIDENT IS DETERMINED BY A RELATED ENTITY, CABRINI OF WESTCHESTER, USING THE FOLLOWING PROCESS: IN 2021, CABRINI OF WESTCHESTER ALONG WITH 19 OTHER ORGANIZATIONS PARTICIPATED IN AN EXECUTIVE COMPENSATION AND BENEFITS SURVEY CONDUCTED BY SULLIVAN COTTER AND ASSOCIATES. ALL PARTICIPANTS ARE MEMBERS OF THE GREATER NEW YORK HOSPITAL ASSOCIATION AND ARE CONTINUING CARE ORGANIZATIONS. THE COMPARISON GROUP INDICATED FOR CABRINI WAS LOCAL NON-PROFIT HEALTH CARE ORGANIZATIONS WITH ANNUAL REVENUES OF UNDER $60 MILLION. THE SURVEY REPORT WAS RECEIVED IN MAY OF 2022 AND SHARED WITH THE EXECUTIVE COMMITTEE OF CABRINI OF WESTCHESTER. THE PURPOSE OF PROVIDING THE REPORT AND CURRENT SALARIES OF THE EXECUTIVE STAFF WAS TO PROVIDE THE COMMITTEE WITH A COMPARISON OF SALARIES FOR KEY POSITIONS WITH SIMILAR ORGANIZATIONS SO THE COMMITTEE COULD PERFORM ITS DUTY TO ANNUALLY REVIEW AND APPROVE SALARIES FOR THE CEO AND CFO. OTHER SALARIES IN THE REPORT WERE FOR MANAGEMENT PURPOSES. THE RESULTS WERE AS FOLLOWS: CEO SALARY COMPENSATION FALLS BELOW THE 25 PERCENTILE. CFO SALARY COMPENSATION FALLS BELOW THE 75 PERCENTILE AND BELOW THE MEAN SALARY. THE COO SALARY COMPENSATION FALLS BELOW THE 75 PERCENTILE AND LESS THAN 2% ABOVE THE MEAN. ANY INCREASE FOR THESE POSITIONS, IF GIVEN, ARE LIMITED TO THE SAME PERCENT INCREASE GRANTED TO ALL NON-UNION STAFF AND MUST BE APPROVED BY THE BOARD OF DIRECTORS. SUCH APPROVAL IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 3 CABRINI HDFC PURCHASES MANAGEMENT SERVICES FROM CABRINI OF WESTCHESTER. THESE SERVICES INCLUDE ADMINISTRATIVE AND FINANCE SERVICES. THE FOLLOWING OFFICERS WERE PAID BY CABRINI OF WESTCHESTER: PATRICIA KRASNAUSKY, DAVID ARDITTI AND JUDY CONNOLLY THEIR COMPENSATION IS REPORTED IN PART VII, SECTION A AND SCHEDULE J, PART II. IN 2023, CABRINI HDFC INCURRED $60,000 IN FEES FOR THESE SERVICES. FORM 990, PART VI, SECTION B, LINE 11B CABRINI HOUSING DEVELOPMENT FUND CORPORATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS APPLICABLE TO DIRECTORS, OFFICERS, AND TO ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE ORGANIZATION. ANNUALLY, EACH DIRECTOR, OFFICER, AND MANAGEMENT EMPLOYEE HAS TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH WILL INFORM THE ORGANIZATION OF ANY POTENTIAL OR ACTUAL CONFLICTS A PERSON MAY HAVE. IF ANYTHING SHOULD CHANGE AFTER SIGNING THE POLICY, THE PERSON IS REQUIRED TO NOTIFY THE PRESIDENT OR BOARD CHAIR REGARDING THE CONFLICT. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE CHIEF EXECUTIVE OFFICER (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR, (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD VICE-CHAIR) WHO SHALL BRING THESE MATTERS TO THE BOARD. THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO CABRINI HDFC. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF CABRINI HDFC AND THE ADVANCEMENT OF ITS PURPOSE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, FORM 990, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G MANAGER/SUPERINTENDENT SERVICES: PROGRAM SERVICE EXPENSES 213,956. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 213,956. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 175,546. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 175,546. FORM 990, PART XII, LINE 2C: THE FULL BOARD OF THE ORGANIZATION ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. CABRINI OF WESTCHESTER 115 BROADWAY DOBBS FERRY NY 10522 237063399 SKILLED NURSING FACILITY NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0