L E R HOUSING DEVELOPMENT FUND CORPORATION: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: L E R HOUSING DEVELOPMENT FUND CORPORATION (EIN 13-4032452)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-05-07
IRS object ID: 201301279349301430
Schema version: 2012v2.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-05-07T15:56:45-05:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	VARGAS & RIVERA CPA'S LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	586 ROUTE 304	AddressLine1
City	NEW CITY	City
State	NY	State
ZIP Code	10956	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	134032452	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	LER HOUSING DEVELOPMENT FUND CORP	BusinessNameLine1
Business Name Line2	C/O EL BARRIO'S OPERATION FIGHTBACK	BusinessNameLine2

Field	Value	IRS element (for citing)
Name Control	LERH	NameControl
Phone	2124107900	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	413 EAST 120TH STREET	AddressLine1
City	NEW YORK	City
State	NY	State
ZIP Code	10035	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	GUS ROSADO	Name
Title	CEO	Title
Phone	2124107900	Phone
Date Signed	2013-05-07	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	THEODORE VARGAS	Name
Phone	8456383113	Phone
Date Prepared	2013-05-07	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Gross Receipts	251611	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Web Site	N/A	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Activity Or Mission Description	THIS CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY, PURSUANT TO SECTION 573 OF ARTICLE XI OF THE PHFL	ActivityOrMissionDescription
Nbr Voting Members Governing Body	4	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	2	NbrIndependentVotingMembers
Total Nbr Employees	1	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	245187	ProgramServiceRevenuePriorYear
Program Service Revenue CY	251086	ProgramServiceRevenueCY
Investment Income Current Year	0	InvestmentIncomeCurrentYear
Other Revenue Prior Year	556	OtherRevenuePriorYear
Other Revenue Current Year	525	OtherRevenueCurrentYear
Total Revenue Prior Year	245743	TotalRevenuePriorYear
Total Revenue Current Year	251611	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	22037	SalariesEtcPriorYear
Salaries Etc Current Year	21973	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	198907	OtherExpensePriorYear
Other Expenses Current Year	188957	OtherExpensesCurrentYear
Total Expenses Prior Year	220944	TotalExpensesPriorYear
Total Expenses Current Year	210930	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	24799	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	40681	RevenuesLessExpensesCY
Total Assets BOY	877949	TotalAssetsBOY
Total Assets EOY	926537	TotalAssetsEOY
Total Liabilities BOY	1062478	TotalLiabilitiesBOY
Total Liabilities EOY	1070385	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	-184529	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	-143848	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	THIS CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY, PURSUANT TO SECTION 573 OF ARTICLE XI OF THE PHFL	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	210930	Expense
Revenue	251086	Revenue
Description	RENTALS TO PERSONS OF LOW INCOME.	Description

Activity Other ActivityOther

Field	Value	IRS element (for citing)
Description	DEPRECIATION	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	210930	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	true	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	false	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	false	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	1	NumberOfEmployees
Employment Tax Returns Filed	false	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Nbr Voting Governing Body Members	4	NbrVotingGoverningBodyMembers
Number Independent Voting Members	2	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	false	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	false	ConflictOfInterestPolicy
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	LER HDFC	BusinessNameLine1
Business Name Line2	LER HDFC	BusinessNameLine2

Field	Value	IRS element (for citing)
Telephone Number	2124107900	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	413 EAST 120TH STREET RM 403	AddressLine1
Address Line2	413 EAST 120TH STREET RM 403	AddressLine2
City	NEW YORK	City
State	NY	State
ZIP Code	100353602	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (4 entries)

TitleTitle	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	Business Name Line2NameBusiness/BusinessNameLine2	OfficerOfficer
SHIRLEY STROUD
CHAIRPERSON	X	0	0	0
VIVIAN GARCIA
TREASURER	X	0	0	0
GUSTAVO ROSADO
EXEC. DIR.		0	0	0	GUSTAVO ROSADO	X
JOHN ARENAS
DEPUTY DIR.		0	0	0	JOHN ARENAS	X

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	RENTAL INCOME	Description
Total Revenue Column	251086	TotalRevenueColumn
Exclusion	$251,086	ExclusionAmount

Field	Value	IRS element (for citing)
Total Program Service Revenue	251086	TotalProgramServiceRevenue

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	OTHER REVENUE	Description
Total Revenue Column	525	TotalRevenueColumn
Related Or Exempt Function Income	525	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	525	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	251611	TotalRevenueColumn
Related Or Exempt Function Income	525	RelatedOrExemptFunctionIncome
Exclusion	$251,086	ExclusionAmount

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	X	InfoInScheduleOPartIX

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	21973	Total
Program Services	21973	ProgramServices

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	5058	Total
Program Services	5058	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	5500	Total
Program Services	5500	ProgramServices

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	45924	Total
Program Services	45924	ProgramServices

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
UTILITIES	67779	67779
PROPERTY MGMT FEE	18864	18864
OPERATING & MAINTENANCE E	9543	9543
INSURANCE	9107	9107

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	27182	Total
Program Services	27182	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	210930	Total
Program Services	210930	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	100550	BOY
EOY	125513	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	8201	BOY
EOY	8294	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	41834	BOY
EOY	52770	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	9600	BOY
EOY	3826	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	1099353	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	473742	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	668576	BOY
EOY	625611	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	49188	BOY
EOY	110523	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	877949	BOY
EOY	926537	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	28780	BOY
EOY	42203	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	1033698	BOY
EOY	1028182	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	1062478	BOY
EOY	1070385	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	-184529	BOY
EOY	-143848	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	-184529	BOY
EOY	-143848	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	877949	BOY
EOY	926537	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	40681	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	false	FSAudited

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gross Receipts From Admissions GrossReceiptsFromAdmissions

Field	Value	IRS element (for citing)
Current Tax Year Minus3 Years	5849	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	11259	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	556	CurrentTaxYearMinus1Year
Current Tax Year	525	CurrentTaxYear
Total	18189	Total

Gross Receipts From Non UBI GrossReceiptsFromNonUBI

Field	Value	IRS element (for citing)
Current Tax Year Minus3 Years	232229	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	245923	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	245187	CurrentTaxYearMinus1Year
Current Tax Year	251086	CurrentTaxYear
Total	974425	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus3 Years	238078	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	257182	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	245743	CurrentTaxYearMinus1Year
Current Tax Year	251611	CurrentTaxYear
Total	992614	Total

Field	Value	IRS element (for citing)
Public Support Total509	992614	PublicSupportTotal509

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus3 Years	238078	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	257182	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	245743	CurrentTaxYearMinus1Year
Current Tax Year	251611	CurrentTaxYear
Total	992614	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	1.00000	PublicSupportPercentage509
Prior Year Support Percentage	1.00000	PriorYearSupportPercentage
Investment Income Percentage	0.00000	InvestmentIncomePercentage
Thirty Three Percnt Tests CY509	X	ThirtyThreePercntTestsCY509

Schedule D IRS990ScheduleD

Other Assets OtherAssets (2 entries)

DescriptionDescription	Book ValueBookValue
DUE TO/FROM RELATED PARTIES	107338
UTILITY DEPOSITS	3185

Field	Value	IRS element (for citing)
Total Book Value Other Assets	110523	TotalBookValueOtherAssets

Other Liabilities OtherLiabilities (3 entries)

DescriptionDescription	AmountAmount
MORTGAGE PAYEBLE	$1,019,997
RENT SECURITY	$8,185
ACCRUED EXPENSES

Field	Value	IRS element (for citing)
Total Of Amounts	1028182	TotalOfAmounts

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (5 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ORGANIZATION'S MISSION	FORM 990 - ORGANIZATION'S MISSION	THIS CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY, PURSUANT TO SECTION 573 OF ARTICLE XI OF THE PHFL
ALL OTHER ACCOMPLISHMENT DESCRIPTION	FORM 990, PAGE 2, PART III, LINE 4D	DEPRECIATION
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	NO REVIEW WAS OR WILL BE CONDUCTED.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	NO DOCUMENTS AVAILABLE TO THE PUBLIC
OTHER EXPENSES	FORM 990, PART IX, LINE 24E	BAD DEBTS 8,150 0 0 CONSULTANTS 7,830 0 0 REAL ESTATE TAXES 4,413 0 0 MISC EXP 3,719 0 0 SUPPLIES AND MATERIALS 1,753 0 0 WORKMENS COMP. 1,317 0 0