2016-05-11T13:54:20-05:00 2015-06-30 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2014-07-01 222642884 ISLANDVIEW HOUSING DEVELOPMENT FUND COMPANY INC ISLA 7168847791 1195 MAIN STREET BUFFALO NY 14209 MICHAEL RIEGEL PRESIDENT, MANAGING AGENT 7168847791 2016-05-10 1 MARY MADONIA P00405803 7168472651 2016-05-10 2014 2016-08-17 19:52:53Z ELIZABETH HUCKABONE 1195 MAIN STREET BUFFALO NY 14209 375722 0 X N/A X 1985 NY TO PROVIDE HOUSING FOR PERSONS OF LOW INCOME WHERE NO ADAQUATE HOUSING EXISTS. 4 2 0 4 0 0 0 0 332119 343836 340 308 25451 31578 357910 375722 0 0 0 0 54467 48054 0 0 0 335917 347595 390384 395649 -32474 -19927 1325668 1218926 1870837 1784022 -545169 -565096 TO PROVIDE HOUSING FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS 0 0 395649 375414 OPERATED A 50-UNIT MULTI-FAMILY APARTMENT COMPLEX FOR LOW INCOME INDIVIDUALS IN GRAND ISLAND, NEW YORK. 395649 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0 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 X 4 2 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 NY X X AARON HEJMOWSKI 7168847791 1195 MAIN STREET BUFFALO NY 14209 ELIZABETH HUCKABONE DIRECTOR/BOARD PRESIDENT 0.50 34.50 X X 0 145027 18047 KATHLEEN CARLSON DIRECTOR/BOARD VICE PRESIDENT 0.50 X X 0 0 0 HELEN RONAN DIRECTOR/BOARD SECRETARY 0.50 1.50 X X 0 0 0 JUDITH SCOTT DIRECTOR/BOARD TREASURER 0.50 34.50 X X 0 70110 9124 AARON HEJMOWSKI CFO 0.50 34.50 X 0 84822 15268 0 299959 42439 0 0 1 0 0 RENTAL REVENUE 531110 343836 343836 343836 308 308 SERVICE COORDINATOR IN 531110 22966 22966 SPECIAL CLAIMS REVENUE 531110 6121 6121 LAUNDRY & VENDING REVE 531110 2023 2023 468 468 31578 375722 375414 0 308 38435 38435 6537 6537 3082 3082 28119 28119 10000 10000 3176 3176 17142 17142 117047 117047 68100 68100 20778 20778 MAINTENANCE & REPAIRS 36701 36701 SERVICE COORDINATOR EXP 25631 25631 UTILITIES 20176 20176 REAL ESTATE TAXES 725 725 395649 395649 0 0 1310 13931 7292 3455 1492 1581 2354687 1538613 855011 816074 460563 383885 1325668 1218926 82146 13732 2713 3673 15358 15604 1770620 1751013 1870837 1784022 X -545169 -565096 -545169 -565096 1325668 1218926 -19927 0 X 0 1 X 0 1 1 X 384948 376949 372933 357570 375414 1867814 384948 376949 372933 357570 375414 1867814 0 0 0 1867814 688 497 247 340 308 2080 688 497 247 340 308 2080 385636 377446 373180 357910 375722 1869894 0.99890 0.99890 0.00110 0.00110 X 0 1 X 48000 48000 2209567 1451578 757989 97120 87035 10085 816074 TENANT SECURITY DEPOSITS HELD IN TRUST 15604 MORTGAGE ACQUISITION COSTS, NET 79885 ESCROW DEPOSITS 18173 REPLACEMENT RESERVE 185766 RESIDUAL RECEIPTS RESERVE 12594 DEBT SERVICE RESERVE 71863 383885 X 375722 0 375722 0 375722 395649 0 395649 0 395649 PART IV, LINE 2B: TENANT SECURITY DEPOSITS ARE HELD IN A SEPARATE BANK ACCOUNT IN THE NAME OF THE PROJECT. INTEREST EARNED ON SUCH DEPOSITS IS PAID TO THE INDIVIDUAL TENANTS ON AN ANNUAL BASIS. PART X, LINE 2: THE COMPANY IS EXEMPT UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AND SECTION 402 OF THE NEW YORK STATE NOT-FOR-PROFIT CORPORATION LAW, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES (US GAAP) PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITIONS THAT THE COMPANY HAS TAKEN OR EXPECTS TO TAKE IN THE COMPANY'S INCOME TAX RETURNS. ORGANIZATIONS TAKE MANY TAX POSITIONS RELATIVE TO TAX LAWS, INCLUDING THOSE TAKEN IN DETERMINING WHETHER TAX IS DUE, A REFUND IS OWED, A TAX RETURN NEEDS TO BE FILED, OR THE CHARACTERIZATION OF INCOME AS TAXABLE (FOR EXAMPLE, UNRELATED BUSINESS INCOME) OR NONTAXABLE. THE COMPANY HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITIONS. THE COMPANY FILES ITS RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IN THE U.S. FEDERAL JURISDICTION AND ITS ANNUAL FILING OF CHARITABLE ORGANIZATIONS IN NEW YORK STATE. 0 0 0 0 0 0 0 0 0 ELIZABETH HUCKABONE DIRECTOR/BOARD PRESIDENT 0 145027 0 0 0 0 0 7379 0 10668 0 163074 0 0 PART I, LINE 3 ALL EMPLOYEES ARE PAID BY BELMONT HOUSING RESOURCES FOR WNY, INC., A RELATED ENTITY. BELMONT'S COMPENSATION PROGRAM IS DEVELOPED BY SENIOR MANAGEMENT, THE HUMAN RESOURCES MANAGER, AND AN EMPLOYEE BENEFITS AND COMPENSATION CONSULTING FIRM, AND REVIEWED BY THE HR AND COMPENSATION COMMMITTEE OF THE BOARD OF DIRECTORS. THIS COMPENSATION PROGRAM APPLIES TO ALL STAFF, INCLUDING OFFICERS. IN ADDITION, ALL COMPENSATION OF OFFICERS IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION PROGRAM INCLUDES MARKET PRICING AND JOB SLOTTING WITHIN ESTABLISHED SALARY GRADES AND RANGES BASED ON INFORMATION PROVIDED BY THE INDEPENDENT CONSULTING FIRM. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY AN OUTSIDE INDEPENDENT ACCOUNTING FIRM. IT IS REVIEWED BY THE PRESIDENT OF THE BOARD OF DIRECTORS AND THE CHIEF FINANCIAL OFFICER OF THE ORGANIZATION BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. A COPY IS PROVIDED TO THE ENTIRE BOARD AT A LATER DATE. FORM 990, PART VI, SECTION B, LINE 12 THE FILING ORGANIZATION IS CURRENTLY REVIEWING THE FUTURE IMPLEMENTATION OF CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION POLICIES. HOWEVER, THE FILING ORGANIZATION HAS NO EMPLOYEES. ALL DAY TO DAY OPERATIONS ARE PERFORMED BY THE STAFF OF A RELATED ENTITY, BELMONT HOUSING RESOURCES FOR WNY, INC. BELMONT HAS IMPLEMENTED ALL THREE POLICIES. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEES ARE PAID BY BELMONT HOUSING RESOURCES FOR WNY, INC., A RELATED ENTITY. BELMONT'S COMPENSATION PROGRAM IS DEVELOPED BY SENIOR MANAGEMENT, THE HUMAN RESOURCES MANAGER, AND AN EMPLOYEE BENEFITS AND COMPENSATION CONSULTING FIRM, AND REVIEWED BY THE HR AND COMPENSATION COMMMITTEE OF THE BOARD OF DIRECTORS. THIS COMPENSATION PROGRAM APPLIES TO ALL STAFF, INCLUDING OFFICERS. IN ADDITION, ALL COMPENSATION OF OFFICERS IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION PROGRAM INCLUDES MARKET PRICING AND JOB SLOTTING WITHIN ESTABLISHED SALARY GRADES AND RANGES BASED ON INFORMATION PROVIDED BY THE INDEPENDENT CONSULTING FIRM. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE ORGANIZATION'S FORM 990 IS ALSO AVAILABLE ON THE WEBSITE GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, INTERNAL POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. 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