2020-10-20T11:11:14-05:00 2019-12-31 PRICEWATERHOUSECOOPERS LLP 300 MADISON AVENUE NEW YORK NY 10017 990 2019-01-01 133411159 EDUCATIONAL HOUSING SERVICES INC % JOSEPH LAVACCA EDUG 2129777622 55 CLARK STREET BROOKLYN NY 11201 RAMALINGAM GANESH CPA CFO 2129777622 2020-10-08 LAURA J PARELLO P01080295 6464713000 207.237.184.83 12991520202945000002 2020-10-20 P 3FDE0A0C96198E492B815A3D27AC3F9182BDFE64 3F11A243B8607A72A5B534A8B0DF29F523661A80 2019 2021-01-29 14:40:06Z JEFFREY LYNFORD 55 CLARK STREET BROOKLYN NY 11201 30437940 false X WWW.STUDENTHOUSING.ORG X 1987 NY The EHS & Subsidiaries Mission is "To Enhance the New York City college experience by providing safe and affordable housing in an enriching student life environment." 8 8 124 0 0 0 0 0 30715708 28740213 436 517 1074648 1697210 31790792 30437940 0 0 0 0 3623060 3854272 0 0 0 30528450 28435516 34151510 32289788 -2360718 -1851848 113982967 112588636 138346149 138181050 -24363182 -25592414 THE EHS & SUBSIDIARIES MISSION "TO ENHANCE THE NEW YORK CITY COLLEGE EXPERIENCE BY PROVIDING SAFE AND AFFORDABLE HOUSING IN AN ENRICHING STUDENT LIFE ENVIRONMENT." false false 28362082 30251240 TO ACQUIRE BY LEASE OR OTHERWISE, MAINTAIN AND OPERATE, IN THE NEW YORK CITY METRO AREA, QUALITY, SAFE, STATE OF THE ART, AFFORDABLE, RESIDENTIAL FACILITIES FOR STUDENTS AND TEACHERS OF EDUCATIONAL INSTITUTIONS. EDUCATIONAL HOUSING SERVICES, INC. ALSO COORDINATES A STUDENT LIFE SOCIAL CALENDAR WHICH PROMOTES STUDENT ACTIVITIES WITHIN THE COMMUNITY. 28362082 true false false true false false false false false false true false false true true true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false true true true true true false true 160 0 true 124 true false false false false false false false false false false false false X 8 8 false false false false false false false true true false false true true true true true true true true true true NY X JOSEPH LAVACCA 2129777622 55 CLARK STREET BROOKLYN NY 11201 JEFFREY LYNFORD PRESIDENT 29.92 5.08 X 583802 0 41162 FAYE BEAN SENIOR VP LEASING & MARKETING 21.7 13.3 X 328252 0 52634 CHRISTY CHATFIELD SENIOR VP STUDENT LIFE 22.75 12.25 X 269003 0 51182 JOSEPH LA VACCA TREASURER 21.0 14.0 X 241789 0 38910 RAMALINGAM GANESH SENIOR VP/CFO 29.26 5.74 X 228919 0 8444 ADAM B KAUFMAN SENIOR HOUSING ADVISOR 16.1 18.9 X 187468 0 16928 KEVIN GROSS VP FACILITIES & PROPERTY MGMT 21.0 14.0 X 189116 0 7310 ARIEL DYBNER SR VP GNRL COUNSEL, SECRETARY 25.65 4.35 X 151414 0 44346 DARLENE LEWIS CONTROLLER 21.0 14.0 X 119859 0 23722 ABRAM BERNSTEIN VP OF INVESTMENTS 32.2 2.8 X 119761 0 16806 WILLIAM COCKRUM III BOARD MEMBER 3.0 2.0 X 25000 0 0 JERRY HULTIN CHAIRMAN OF THE BOARD 3.0 2.0 X 25000 0 0 JOHN THOMAS RANDOLPH I BOARD MEMBER 3.0 2.0 X 25000 0 0 DALE ANNE REISS BOARD MEMBER 3.0 2.0 X 25000 0 0 SAMARA BAREND BOARD MEMBER 3.0 2.0 X 25000 0 0 DONALD D SHEETS BOARD MEMBER 3.0 2.0 X 25000 0 0 DENNIS R IRVIN BOARD MEMBER 3.0 2.0 X 25000 0 0 CARL RICHARD HARTMAN BOARD MEMBER 3.0 2.0 X 25000 0 0 2619383 0 301444 13 false true false REALTY CROWN MANAGEMENT 100 HENRY STREET BROOKLYN NY 11201 PROPERTY MANAGEMENT 2265000 RCN PO BOX 11816 NEWARK NJ 071018116 TELECOMMUNICATIONS 1355675 Cleaning Building Services 1133 BROADWAY STE 412 NEW YORK NY 10010 CLEANING SERVICES 194149 INNERCIRCLE TECHNOLOGY ADVISORS 122 East 42nd Street NEW YORK NY 10010 IT CONSULTING 123050 PRICEWATERHOUSECOOPERS LLP 300 MADISON AVENUE NEW YORK NY 10017 AUDIT/TAX SERVICE 402750 10 X 0 HOUSING AND DORMITORY 721310 28740213 28740213 28740213 517 517 0 0 161517 161517 0 161517 161517 0 0 0 0 0 0 0 0 0 0 RENT FORGIVENESS 900099 655962 655962 0 REIMBURSEMENT OF CABLE, SECURITY AND STUDENT LIFE 900099 534840 534840 0 ANNUAL INSTITUTION FEE 900099 320225 320225 24666 0 24666 1535693 30437940 30251240 0 186700 0 0 0 0 1444405 1444405 0 2176661 902135 1274526 60219 23842 36377 172987 74100 98887 0 0 122725 15608 107117 393926 393926 53582 53582 0 0 475744 437394 38350 706582 706582 128313 128313 113516 3445 110071 0 21388340 21256204 132136 60100 19028 41072 0 74022 39519 34503 2484970 2477626 7344 0 536363 533801 2562 325244 261040 64204 REPAIRS & MAINTENANCE 906524 904484 2040 BAD DEBT EXPENSE 352091 352091 GENERAL EXPENSES 11892 19 11873 STUDENT LIFE EXPENSES 291219 291219 10363 10363 32289788 28362082 3927706 0 10618963 7749534 1748973 1778566 0 0 1767448 2442866 0 0 0 0 0 0 0 0 295770 346231 8874043 7773942 1654432 1100101 0 0 0 0 0 1137616 0 0 97897381 98033722 113982967 112588636 4286538 2088809 0 0 6345801 5289868 50361836 48447106 0 0 0 0 282474 40890 0 0 77069500 82314377 138346149 138181050 X -24363182 -25592414 0 0 -24363182 -25592414 113982967 112588636 -1851848 622616 X false true X true false X 419241 429000 399125 465350 650350 2363066 44815704 39450985 37889090 30250358 28089863 180496000 0 0 0 45234945 39879985 38288215 30715708 28740213 182859066 0 23148816 19756786 17673311 17049296 15158140 92786349 23148816 19756786 17673311 17049296 15158140 92786349 90072717 325526 256769 261126 194526 162034 1199981 0 325526 256769 261126 194526 162034 1199981 0 155162 207125 165625 880558 1535692 2944162 45715633 40343879 38714966 31790792 30437939 187003209 0.48166 0.47918 0.00642 0.00675 X false false false false false false true 53582 false false 53582 false PART II-B, LINE 1G THE ORGANIZATION RETAINED TWO FIRMS IN 2019 TO ASSIST IN LOBBYING THE NEW YORK CITY DEPARTMENT OF BUILDINGS, MEMBERS OF THE NEW YORK CITY MAYOR'S STAFF, MEMBERS OF THE NEW YORK CITY COUNCIL, AND MEMBERS OF THE NEW YORK CITY COUNCIL'S STAFF FOR A RULE MODIFICATION BY THE NEW YORK CITY DEPARTMENT OF BUILDINGS OF THE RULE SETTING FORTH WHAT CONSTITUTES A "COLLEGE OR SCHOOL STUDENT DORMITORY". 5435916 4439947 995969 3438127 3333995 104132 1100101 DUE FROM RELATED ENTITIES 36135125 CASH&SECURITY BY BOND TRUSTEES 3179725 SECURITY DEPOSITS 959564 INVESTMENTS HELD BY BOND TT 7667084 RECEIVABLE STUD HOUS PROJ 49706831 OTHER ASSETS 385393 98033722 0 DUE TO RELATED ENTITIES 69336609 DEFERRED COMPENSATION 0 PAYABLE ASSOCIATED WITH STUDENT HOUSING 12139571 OTHER LIABILITY - CURRENT 518903 OTHER LIABILITY - LONG TERM 319294 82314377 X SCHEDULE D, PART X, LINE 2 FIN48 THE ORGANIZATION IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAX AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2019, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT BELIEVES THAT ITS TAX-EXEMPT STATUS WOULD BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION FILES INFORMATIONAL TAX RETURNS IN THE UNITED STATES FEDERAL AND NEW YORK STATE JURISDICTIONS. X X X X X false true false false false false false true false ARIEL DYBNER SR VP GNRL COUNSEL, SECRETARY 141414 0 10000 0 0 0 546 0 43800 0 195760 0 0 0 JEFFREY LYNFORD PRESIDENT 583802 0 0 0 0 0 11572 0 29590 0 624964 0 0 0 JOSEPH LA VACCA TREASURER 180513 0 0 0 61276 0 9320 0 29590 0 280699 0 44880 0 FAYE BEAN SENIOR VP LEASING & MARKETING 239337 0 0 0 88915 0 8834 0 43800 0 380886 0 65007 0 CHRISTY CHATFIELD SENIOR VP STUDENT LIFE 192627 0 10000 0 66376 0 7382 0 43800 0 320185 0 48501 0 KEVIN GROSS VP FACILITIES & PROPERTY MGMT 139933 0 10000 0 39183 0 7310 0 0 0 196426 0 28660 0 ADAM B KAUFMAN SENIOR HOUSING ADVISOR 187468 0 0 0 0 0 6477 0 10451 0 204396 0 0 0 RAMALINGAM GANESH SENIOR VP/CFO 218919 0 10000 0 0 0 8444 0 0 0 237363 0 0 0 DEFERRED COMPENSATION PLAN IN 2015, THE BOARD OF DIRECTORS OF THE ORGANIZATION APPROVED A LONG TERM INCENTIVE COMPENSATION PLAN FOR MEMBERS OF THE SENIOR MANAGEMENT TEAM (OTHER THAN THE PRESIDENT) THAT HAVE BEEN WITH THE ORGANIZATION FOR AT LEAST TEN YEARS. THE PLAN COMPENSATES PARTICIPANTS BASED ON ORGANIZATIONAL CRITERIA OF WHETHER THE ORGANIZATION REACHES $2M IN CASH FLOW FOR THE CURRENT YEAR, WHETHER STUDENT SATISFACTION MEETS CERTAIN BENCHMARKS, ON INDIVIDUAL CRITERIA OF LONGEVITY WITH THE ORGANIZATION AND WHETHER THE DEPARTMENT THE INDIVIDUAL IS IN CHARGE OF IS WITHIN A CERTAIN PERCENTAGE OF THE PRIOR YEAR EXPENSE BUDGET. IN ADDITION THE PLAN GIVES DISCRETION TO THE BOARD OF DIRECTORS TO VARY FROM THESE CRITERIA. AS OFJUNE 30, 2019, THE AMOUNT CALCULATED AS DEFERRED COMPENSATION TO BE PAID TO ELIGIBLE EMPLOYEES OF THE PLAN AFTER EXPIRY OF A VESTING PERIOD OF 5 YEARS WAS $255,750. THE FOLLOWING MEMBERS OF THE SENIOR MANAGEMENT TEAM ARE ELIGIBLE TO PARTICIPATE: SENIOR VICE PRESIDENT OF LEASING AND MARKETING $88,915, SENIOR VICE PRESIDENT OF STUDENT LIFE $66,376, TREASURER $61,276 AND VICE PRESIDENT OF FACILITIES $39,183. AS OF JULY 2019, THE ENTIRE PAYABLE OF $255,750 HAS BEEN FUNDED AND PAID TO THESE ELIGIBLE EMPLOYEES. THERE IS NO LONGER A DEFERRED COMPENSATION PLAN IN EFFECT AS OF 12/31/2019. PART I, LINE 7 2019 BONUS CALCULATION ON MARCH 1, 2019 THE ORGANIZATION AFTER APPROVAL FROM THE GOVERNANCE, FINANCE, COMPENSATION AND SUSTAINABILITY COMMITTEE APPROVED THE GRANTING OF SPECIAL BONUSES TO THE SR VP OF STUDENT LIFE, THE SR VP GENERAL COUNSEL AND CORPORATE SECRETARY, THE CFO, AND VP OF FACILITIES. THESE BONUSES WERE PAID IN MARCH 2019 A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64983QEL9 2005-04-14 69005235 CONSTRUCT STUDENT RESIDENCE false false false A 18894722 0 69005235 5481315 0 0 1368436 1439385 0 61687289 0 0 2006 false false true true A false false true false false 0 false false false true A false false false true false false 0 false 0 false true A true Part II AMOUNTS REPORTED IN 2019 ARE CONSISTENT WITH THE TAXPAYER'S FORM 8038 PREVIOUSLY FILED WITH THE IRS WHICH REPORTED INFORMATION WITH RESPECT TO ITS TAX EXEMPT BONDS. PART III, LINE 3B EHS REGULARLY ENGAGES BOND COUNSEL WHEN AN ISSUE ARISES AS TO PRIVATE BUSINESS USE OF THE PROPERTY. THERE WAS NO OCCASION FOR BOND COUNSEL IN 2019. PART IV, LINE 2C THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2019. FORM 990, PART VI, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY THE FORM 990 FOR 2019 WAS PROVIDED TO THE FULL BOARD AT THE SEPTEMBER 2020 BOARD MEETING FOR REVIEW AND COMMENT. APPROVAL VIA BOARD VOTE OF THE FORM 990 IS REQUIRED PRIOR TO FILING THE REPORT TO THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY EHS' CONFLICT OF INTEREST POLICY REQUIRES THE FILING BY ALL BOARD MEMBERS AND SENIOR OFFICERS OF THE ORGANIZATION OF ANNUAL CONFLICTS DISCLOSURE STATEMENT. THESE ARE REVIEWED BY THE GOVERNANCE AND COMPENSATION COMMITTEE QUARTERLY FOR ANY CONFLICTS. FORM 990, PART VI, LINE 15A & 15B COMPENSATION POLICY 990 Part VI-LINE 15A: IN SEPTEMBER 2019, THE ORGANIZATION, WITH REVIEW AND APPROVAL OF THE GOVERNANCE, FINANCE AND COMPENSATION COMMITTEE AND INPUT FROM OUTSIDE COMPENSATION CONSULTANTS GRANT THORNTON, LLP, EXTENDED THE EMPLOYMENT CONTRACT OF ITS PRESIDENT FOR AN ADDITIONAL TERM OF TEN YEARS ENDING DECEMBER 31, 2029. PART VI - LINE 15B IN 2018 THE ORGANIZATION RE-ENGAGED GRANT THORNTON LLP TO REVIEW THE COMPENSATION LEVELS OF OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION TO PROVIDE THE BOARD WITH A DETERMINATION OF COMPENSATION FOR THOSE EMPLOYEES. BASED ON THIS REVIEW IN JANUARY 2019 THE ORGANIZATION INCREASED THE SALARY OF THE SENIOR VP OF MARKETING BY $25,000. IN MARCH OF 2019 THE ORGANIZATION INCREASED THE COMPENSATION OF THE TREASURER OF $15,000. NO OTHER COMPENSATION DECISIONS WERE MADE FOR ANY OTHER OFFICER OR KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, LINE 19 DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION COPIES OF THE ANNUAL FINANCIALS AND OTHER GOVERNING DOCUMENTS ARE SENT TO THE STATE OF NEW YORK, NEW YORK STATE BOND COMMISSION, AND THE BOARD OF DIRECTORS. COPIES ARE ON FILE AND AVAILABLE UPON REQUEST. THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FORM 990 PAYROLL EHS, INC. (EHS) CONTRACTS WITH ADP TOTAL SOURCE FOR THEIR HUMAN RESOURCES/PAYROLL SERVICES. AS SUCH, ALL EMPLOYEES OF EHS ARE A PART OF ADP'S PROFESSIONAL EMPLOYER ORGANIZATION (PEO) GROUP. FOR W-2 PURPOSES, ADP IS LISTED AS THE EMPLOYER OF ALL EHS EMPLOYEES. EHS IS THE SOLE ENTITY THAT PAYS THE EMPLOYEES OF ALL THE RELATED/CONTROLLING ENTITIES. ALLOCATIONS ARE MADE FROM EHS TO THESE ENTITIES, BASED ON ACTUAL TIME WORKED BY EACH EMPLOYEE WHEN KNOWN, OR BY AN ALLOCATION OF MANAGEMENT SALARIES BASED UPON THE ESTIMATED TIME WORKED THROUGH THE YEAR ON THESE ENTITIES. HOURS OF BOARD MEMBERS ARE BASED UPON THE QUARTERLY AND MONTHLY MEETINGS INCLUDING REGULAR INTERACTIONS WITH MANAGEMENT IN PERSON AND TELEPHONICALLY AS IT RELATES TO A PARTICULAR ENTITY. FORM 990 - Part VII IND CONTRACTORS IN THE FOLLOWING SECTION THE COMPENSATION TO REALTY CROWN MANAGEMENT OF $2,265,000 REPRESENTS THE OPERATING COSTS FOR TWO BUILDINGS. THESE COSTS INCLUDE: REAL ESTATE TAXES, UTILITIES, MANAGEMENT FEES, CLEANING, SECURITY, MAJOR REPAIRS TO MACHINERY, INSURANCE EXPENSES AND OVERALL GENERAL EXPENSES TO OPERATE THE BUILDINGS EFFICIENTLY. IN 2018 THIS EXPENSE TOTALED $2,533,840. EHS CLARK STREET RESIDENCE LLC 55 CLARK STREET BROOKLYN NY 11201 020739597 STUD. HOUSING DE 9073157 4236761 EHS INC EHS VI LLC 55 CLARK STREET BROOKLYN NY 11201 205965253 STUD. HOUSING DE 6672600 14720139 EHS INC EHS VII LLC 55 CLARK STREET BROOKLYN NY 11201 260496546 STUD. HOUSING DE 9034533 2031281 EHS INC EHS TOWERS LLC 55 CLARK STREET BROOKLYN NY 11201 263538503 STUD. 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