2025-11-14T17:50:20-06:00 2024-12-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-01-01 421690952 THE MULFORD CORPORATION MULF 4105983867 1511 CENTRAL PARK AVE YONKERS NY 10710 BRIAN SWEENEY SECRETARY 4105983867 2025-11-14 1 1 MELISSA MODELSON P01603524 9143818900 2025-11-12 2024 2025-03-06 01:10:19Z BRIAN SWEENEY 1511 CENTRAL PARK AVE YONKERS NY 10710 7850306 0 X WWW.MULFORDCORPORATION.COM X 2008 NY TO SUPPORT THE GOVERNMENTAL ACTIVITIES AND GOALS OF THE MUNICIPAL HOUSING FOR THE CITY OF YONKERS, NY. 6 6 0 6 0 0 76500 241066 1910792 7558330 84593 50910 0 0 2071885 7850306 489309 477536 0 0 1227343 432546 11481 0 0 1931516 1410868 3659649 2320950 -1587764 5529356 19695138 25137421 663452 2996701 19031686 22140720 TO SUPPORT THE GOVERNMENTAL ACTIVITIES AND GOALS OF THE MUNICIPAL HOUSING FOR THE CITY OF YONKERS, NY. 0 0 1467983 477536 7558330 PROVIDES SOCIAL SERVICES TO RESIDENTS OF THE LOW AND MODERATE INCOME HOUSING PROJECTS OPERATED BY THE MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS, TO INCREASE THE ACCESSIBILITY OF LOW-INCOME HOUSING, TO RAISE FUNDS TO SUPPLEMENT MHACY'S LOW-INCOME HOUSING PROJECTS. 1467983 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 1 16 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 1 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 NY X X X BRIAN SWEENEY 4105983867 1511 CENTRAL PARK AVE YONKERS NY 10710 JAMES J LANDY CHAIRMAN 1.00 0.00 X X 0 0 0 JOAN DEIERLAN DIRECTOR 1.00 0.00 X 0 0 0 JOHN J MCDONALD DIRECTOR 1.00 0.00 X 0 0 0 EDGAR SANTANA SR DIRECTOR 1.00 0.00 X 0 0 0 JOHN SCHOPFER DIRECTOR 1.00 0.00 X 0 0 0 JEAN TICKELL DIRECTOR 1.00 0.00 X 0 0 0 WILSON KIMBALL PRESIDENT & CEO 8.00 32.00 X 0 295257 5139 CARLOS LABOY-DIAZ VICE PRESIDENT 1.00 39.00 X 0 241172 43606 JOHN LISZEWSKI TREASURER 1.00 0.00 X 0 0 0 BRIAN SWEENEY SECRETARY 1.00 0.00 X 0 0 0 0 536429 48745 0 0 1 0 THE FRESNEL GROUP 606 SECOND STREET ANNAPOLIS MD 21403 MANAGEMENT SERVICES 895847 STEPTOE & JOHNSON LLP 1114 AVENUE OF THE AMERICAS NEW YORK NY 10036 LEGAL SERVICES 380069 KMCG LLC 221 DEVOE AVE YONKERS NY 10705 PROJECT STRATEGY & DEVELOPMENT 247470 MUNICIPAL HOUSING AUTHORITY FOR THE CITY 1500 CENTRAL ARK AVE YONKERS NY 10710 BUILDING INSPECTIONS 242520 TERRAIN 53 OLD SOLOMONS ISLAND ROAD SUITE ANNAPOLIS MD 21401 ENGINEERING SERVICES 188448 9 180566 60500 241066 DEVELOPER FEES 900099 7530525 7530525 MANAGEMENT FEE INCOME 900099 27805 27805 7558330 50910 50910 7850306 7558330 0 50910 477536 477536 432546 209437 223109 128845 120420 8425 151300 151300 161297 45771 115526 149570 149570 1393 1393 8564 8564 21135 21135 8228 8228 45877 45877 4832 4832 ASSET MANAGEMENT SERVIC 613426 613426 PROJECT CONSULTING AND 113743 113743 BAD DEBT 1692 1692 MISCELLANEOUS EXPENSES 966 966 2320950 1467983 852967 0 186115 259977 2293799 105046 16304736 19543815 339114 0 363781 5228583 207593 0 19695138 25137421 663452 1052873 1915651 0 28177 663452 2996701 X 19031686 22140720 19031686 22140720 19695138 25137421 5529356 -1664 -2418658 0 X X 0 1 X 1 0 X X 2 CITY OF YONKERS 136007340 6 0 0 0 MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS 136007014 6 1 0 435090 2 0 435090 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION A, LINE 1: THE SUPPORTED ORGANIZATION, CITY OF YONKERS, IS NOT LISTED IN THE CORPORATION'S GOVERNING DOCUMENTS. THE CORPORATION SUPPORTS THE CITY OF YONKERS WHICH SUPPORTS THE SAME CHARITABLE CLASS FOR INDIVIDUALS IN CONNECTION WITH THE GOALS OF THE MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS, NEW YORK ("MHACY"). THEREFORE, QUESTION ONE HAS BEEN ANSWERED NO. PART IV, SECTION A, LINE 2: THE CORPORATION SUPPORTS THE CITY OF YONKERS (THE "CITY"). THE CITY IS A LOCAL GOVERNMENT UNDER SECTION 170(B)(1)(A)(V) AND IS NOT REQUIRED TO OBTAIN RECOGNITION OF ITS PUBLIC CHARITY STATUS. THE CORPORATION DETERMINED THAT THE CITY WOULD BE DESCRIBED IN SECTION 509(A)(2) AS IT SERVES THE NEEDS OF THE GENERAL PUBLIC. PART IV, SECTION E, LINE 1C: THE CORPORATION SUPPORTS THE CITY OF YONKERS (THE "CITY"). THE CITY IS A LOCAL GOVERNMENT UNDER SECTION 170(B)(1)(A)(V). THE CORPORATION SUPPORTS THE CITY OF YONKERS WHICH SUPPORTS THE SAME CHARITABLE CLASS FOR INDIVIDUALS IN CONNECTION WITH THE GOALS OF THE MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS, NEW YORK. CITY OF YONKERS: THE ORGANIZATION SUPPORTS THE CITY OF YONKERS, WHICH IS AFFILIATED WITH THE MUNICIPAL HOUSING AUTHORITY FOR THE CITY OF YONKERS, NEW YORK, AN INDEPENDENT MUNICIPAL CORPORATION. THE HOUSING AUTHORITY IS THE LARGEST PROVIDER OF AFFORDABLE HOUSING IN THE CITY. THE SAME CHARITABLE CLASS OF INDIVIDUALS IS BEING SERVED BY THE CITY OF YONKERS, AS THEY BOTH SERVE THE RESIDENTS OF THE CITY. PART IV, SECTION D, LINE 3: THREE MEMBERS OF THE BOARD SHALL BE MHACY-AFFILIATED, EITHER AS AN EMPLOYEE OR A MHACY COMMISSIONER. ALL "MHACY" AFFILIATED MEMBERS SHALL BE APPOINTED BY THE MAYOR OF THE CITY OF YONKERS. AS BOARD MEMBERS OF THE ORGANIZATION THEY HAVE THE POWER TO CREATE THE ORGANIZATION'S INVESTMENT POLICIES AS WELL AS DIRECT THE USE OF THE ORGANIZATION'S INCOME AND ASSETS AT ANY POINT DURING THE YEAR. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 BRIDGE LOAN RECEIVABLE 4867867 C INVESTMENTS IN HOUSING ENTITIES 360716 C 5228583 DUE TO RELATED PARTY 28177 28177 X 7848642 -1664 -1664 7850306 0 7850306 2320950 0 2320950 0 2320950 PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE CONSOLIDATED FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2021. 1 YONKERS ARTS 540 NEPPERHAN AVENUE YONKERS NY 10701 800229446 501(C)(3) 26000 0 PROMOTE ART BY LOW INCOME COMMUNITY RESIDENTS GROUNDWORK HUDSON VALLEY INC 22 MAIN STREET 2ND FLOOR YONKERS NY 10710 113579493 501(C)(3) 6946 0 SUPPORT THE REHABILITATITON OF THE PREMISES MUNICIPAL HOUSING AUTHORITY OF THE CITY OF YONKERS 1511 CENTRAL PARK AVENUE YONKERS NY 10710 136007014 GOVERNMENT 435090 0 GREEN INNOVATION GRANT 3 PART I, LINE 2: THE ORGANIZATION MAINTAINS RECORDS TO SUBSTANTIATE THE AMOUNT OF GRANTS AND SELECTION CRITERIA USED TO AWARD GRANTS. MULFORD OPERATES ON A REIMBURSEMENT BASIS AND REQUESTS REIMBURSEMENT REQUESTS BE SUPPORTED BY PROPER SUPPORTING DOCUMENTATION AS NECESSARY. OPERATING ON AN REIMBURSEMENT BASIS ALLOWS MULFORD TO REVIEW INVOICES AND SUPPORTING DOCUMENTATION TO ENSURE ANY FUNDS BEING REQUESTED ARE APPROPRIATE AND ALLOWABLE. IF IT IS DETERMINED THE REQUEST IS NOT APPROPRIATELY DOCUMENTED OR THE REQUEST INCUDES EXPENSES THAT ARE NOT ALLOWABLE, THE INVOICE IS REJECTED AND THE GRANTEE IS REQUESTED TO REVISE AND RESUBMIT. 0 0 0 0 0 0 0 0 0 WILSON KIMBALL PRESIDENT & CEO 0 208566 0 23055 0 63636 0 0 0 5139 0 300396 0 0 CARLOS LABOY-DIAZ VICE PRESIDENT 0 241172 0 0 0 0 0 0 0 43606 0 284778 0 0 THE FRESNEL GROUP OWNED BY THE WIFE OF THE CORPORATION'S SECRETARY 432546 BUILDING CONSULTANT 0 FORM 990, LINE 1: CPG PHASE VI GP, LLC IS 50% OWNED BY THE TAX-EXEMPT ENTITY, THE MULFORD CORPORATION AS SUCH, CPG PHASE VI GP, LLC IS CONSIDERED A TAX-EXEMPT CONTROLLED ENTITY AS DEFINED IN CODE SECTION 168(H)(6)(F)(II). CPG PHASE VI GP LLC HEREBY ELECTS, PURSUANT TO IRC SEC. 168 (H)(6)(F)(II), TO HAVE ITS TAX-EXEMPT SHAREHOLDER TREAT AS UNRELATED BUSINESS TAXABLE INCOME (UNDER CODE SECTION 511) ANY DIVIDENDS, INTEREST OR GAIN FROM A SALE OF STOCK WITH RESPECT TO THIS CONTROLLED ENTITY. THIS ENTITLES THIS TAX-EXEMPT CONTROLLED ENTITY, TO NOT BE TREATED AS A TAX-EXEMPT ENTITY. THIS ELECTION IS EFFECTIVE FOR THIS TAX YEAR AND ALL FUTURE TAX YEARS. IT IS A BINDING AND IRREVOCABLE ELECTION. FORM 990, LINE 1: LA MORA MM, LLC IS 100% OWNED BY THE TAX EXEMPT ENTITY, THE MULFORD CORPORATION AS SUCH, LA MORA MM, LLC IS CONSIDERED A TAX-EXEMPT CONTROLLED ENTITY AS DEFINED IN CODE SECTION 168(H)(6)(F)(II). LA MORA MM, LLC HEREBY ELECTS, PURSUANT TO IRC SEC. 168 (H)(6)(F)(II), TO HAVE ITS TAX-EXEMPT SHAREHOLDER TREAT AS UNRELATED BUSINESS TAXABLE INCOME (UNDER CODE SECTION 511) ANY DIVIDENDS, INTEREST OR GAIN FROM A SALE OF STOCK WITH RESPECT TO THIS CONTROLLED ENTITY. THIS ENTITLES THIS TAX-EXEMPT CONTROLLED ENTITY, TO NOT BE TREATED AS A TAX-EXEMPT ENTITY. THIS ELECTION IS EFFECTIVE FOR THIS TAX YEAR AND ALL FUTURE TAX YEARS. IT IS A BINDING AND IRREVOCABLE ELECTION. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS A MANAGEMENT AGREEMENT FOR CERTAIN ADMINISTRATIVE AND CONSULTING SERVICES WITH THE FRESNEL GROUP. THE FRESNEL GROUP SHALL PROVIDE FINANCIAL, ADMINISTRATIVE, AND PROGRAM AND DEVELOPMENT MANAGEMENT SERVICES TO ASSIST THE ORGANIZATION IN THE IMPLEMENTATION AND MANAGEMENT OF ITS RENTAL ASSISTANCE PROGRAMS. THERE ARE NO INDIVIDUALS REPORTED IN PART VII, SECTION A, WHO ARE COMPENSATED FOR SERVICES PROVIDED TO THE FILING ORGANIZATION AND RELATED ORGANIZATIONS DURING THE YEAR. THE FRESNEL GROUP WAS PAID $432,546 FOR THESE SERVICES IN 2024. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION HAS AMENDED ITS BY-LAWS DURING 2024 IN ADD THE POSITIONS OF VICE PRESIDENT AND SECRETARY AS OFFICERS OF THE CORPORATION. THE ROLES AND RESPONSIBILITIES OF THESE TWO POSITIONS INCLUDE THE FOLLOWING: 1. THE VICE PRESIDENT SHALL ATTEND THE MEETINGS OF THE BOARD AND SHALL WORK IN CLOSE COOPERATION WITH THE PRESIDENT TO DEVELOP AND IMPLEMENT THE CORPORATION'S MISSION AND STRATEGIC GOALS. THE VICE PRESIDENT MAY ACT IN THE PLACE OF THE PRESIDENT DURING HIS/HE ABSENCE OR INABILITY TO ACT. THE VICE PRESIDENT MAY EXECUTE ANY DOCUMENTS AUTHORIZED BY THE BOARD OF DIRECTORS AND BY DESIGNATION OF THE PRESIDENT. 2. THE SECRETARY SHALL ATTEND MEETINGS OF THE BOARD AND RECORD ITS PROCEEDINGS. HE OR SHE AND/OR HIS/HER DESIGNEE MAY GIVE, OR CAUSE TO BE GIVEN, NOTICE OF ALL MEETINGS OF DIRECTORS OF THE CORPORATION. THE SECRETARY SHALL KEEP THE RECORDS OF ALL MEETINGS OF THE BOARD AND COMMITTEES THEREOF. THE SECRETARY MAY CERTIFY ALL VOTES, RESOLUTIONS, AND ACTIONS OF THE BOARD, AND COMMITTEES OF THE BOARD, AND MAY ATTEST ALL DOCUMENTS EXECUTED ON BEHALF OF THE CORPORATION. THE SECRETARY MAY EXECUTE ANY DOCUMENTS AUTHORIZED BY THE BOARD OF DIRECTORS AND BY DESIGNATION OF THE PRESIDENT. FORM 990, PART VI, SECTION A, LINE 7A ALL "MHACY" AFFILIATED MEMBERS SHALL BE APPOINTED BY THE MAYOR OF THE CITY OF YONKERS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION 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, AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO MANAGEMENT FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS, PRINCIPAL OFFICERS, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST. AFTER DISLCOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMITTEE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. THE GOVERNING BOARD OR COMMITTEE SHALL REVIEW THE CONFLICT OF INTEREST AND DETERMINE BY MAJORITY VOTE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 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 AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS. 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