358-74 VERNON AVENUE HOUSING DEVELOPMENT FUND CORPORATION: Form 990, tax year 2011
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- Organization
- 358-74 VERNON AVENUE HOUSING DEVELOPMENT FUND CORPORATION (EIN 11-3257656)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2013-01-31
- IRS object ID
- 201330319349301428
- Schema version
- 2011v1.2
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-01-31T20:03:58-06:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 273263553 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GALLEROS KOH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 71 W MAIN STREET SUITE 302 | AddressLine1 |
| City | FREEHOLD | City |
| State | NJ | State |
| ZIP Code | 07728 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 113257656 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 358-74 VERNON AVENUE | BusinessNameLine1 |
| Business Name Line2 | HOUSING DEVELOPMENT CORPORATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | 358- | NameControl |
| Phone | 2126655500 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 132 RALPH AVENUE | AddressLine1 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11233 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ELLIOTT ROBINSON JR | Name |
| Title | CHAIR | Title |
| Phone | 2126655500 | Phone |
| Date Signed | 2013-01-31 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LEONORA GALLEROSCPA | Name |
| PTIN | P00181670 | PTIN |
| Phone | 7324622020 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | ELLIOTT ROBINSON JR | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 132 RALPH AVENUE | AddressLine1 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11233 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 596139 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | none | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1995 | YearFormation |
| State Legal Domicile | NY | StateLegalDomicile |
| Activity Or Mission Description | 358-74 VERNON AVENUE HOUSING DEVELOPMENT FUND CORPORATION (THE CORPORATION) PROVIDES SUPPORTIVE HOUSING FOR THE VERY LOW-INCOME PERSONS AGE 62 AND OLDER OR HANDICAPPED PERSONS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 3 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 3 | NbrIndependentVotingMembers |
| Total Nbr Employees | 4 | TotalNbrEmployees |
| Total Nbr Volunteers | 3 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 318702 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 412255 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 198370 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 183379 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 314 | InvestmentIncomePriorYear |
| Investment Income Current Year | 505 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 517386 | TotalRevenuePriorYear |
| Total Revenue Current Year | 596139 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 103614 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 120848 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 458180 | OtherExpensePriorYear |
| Other Expenses Current Year | 510852 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 561794 | TotalExpensesPriorYear |
| Total Expenses Current Year | 631700 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -44408 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -35561 | RevenuesLessExpensesCY |
| Total Assets BOY | 4629616 | TotalAssetsBOY |
| Total Assets EOY | 4551239 | TotalAssetsEOY |
| Total Liabilities BOY | 5562648 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 5519832 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -933032 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -968593 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE CORPORATION'S MISSION IS TO DEVELOP HOUSING FACILITIES AND SERVICES FOR THE ELDERLY AND HANDICPPAED PERSONS OF LOW-INCOME. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 580372 | Expense |
| Grants | 412255 | Grants |
| Revenue | 183379 | Revenue |
| Description | DURING 2011, THE CORPORATION CONTINUES TO PROVIDE SUPPORTIVE HOUSING TO ITS ELDERLY AND/OR HANDICAPPED TENANTS IN ITS LUCILLE ROSE MANOR APARTMENTS (THE PROJECT). SINCE THE PROJECT WAS DEVELOPED THROUGH A CAPITAL ADVANCE FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 202 OF THE HOUSING ACT OF 1959, THE CORPORATION CONTINUES TO OPERATE, MAINTAIN AND MANAGE THE PROJECT IN ACCORDANCE WITH THE REQUIREMENTS OF HUD, SPECIFICALLY IN TERMS OF ADMITTING ELIGIBLE TENANTS ONLY. THROUGH ITS HOUSING ASSISTANCE PAYMENTS (HAP) CONTRACT WITH HUD, THE CORPORATION PROCESSED MONTHLY HOUSING ASSISTANCE FROM HUD FOR EACH OF THE TENANTS AND COLLECT THE TENANTS PORTION OF THE MONTHLY RENT. | Description |
| Total Program Service Expense | 580372 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 1 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 4 | NumberOfEmployees |
| Employment Tax Returns Filed | 0 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 3 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 3 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NY | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LWC MANAGEMENT CORPORATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2126655500 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2090 ADAM CLAYTON POWELL JR BLVD | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10027 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (3 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| ELLIOTT ROBINSON JR | ||||||
| CHAIR | 4.00 | X | X | 0 | 0 | 0 |
| JAMES HENRY | ||||||
| SECRETARY/TREASURER | 2.00 | X | X | 0 | 0 | 0 |
| MELVIN POPE SR | ||||||
| MEMBER | 2.00 | X | X | 0 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Government Grants | 412255 | GovernmentGrants |
| Total Contributions | 412255 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| LOW-INCOME HOUSING REN | 531110 | 183273 | 183273 |
| LAUNDRY | 531110 | 106 | 106 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 183379 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 505 | TotalRevenueColumn |
| Related Or Exempt Function Income | 505 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 596139 | TotalRevenueColumn |
| Related Or Exempt Function Income | 183884 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 95574 | Total |
| Program Services | 95574 | ProgramServices |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16205 | Total |
| Program Services | 16205 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9069 | Total |
| Program Services | 9069 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33172 | Total |
| Management And General | 33172 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2750 | Total |
| Program Services | 2750 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10075 | Total |
| Management And General | 10075 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2907 | Total |
| Program Services | 2907 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 400 | Total |
| Program Services | 400 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25409 | Total |
| Program Services | 17328 | ProgramServices |
| Management And General | 8081 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8789 | Total |
| Program Services | 8789 | ProgramServices |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 220220 | Total |
| Program Services | 220220 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 149237 | Total |
| Program Services | 149237 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31658 | Total |
| Program Services | 31658 | ProgramServices |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | REAL ESTATE TAXES | Description |
| Total | 26235 | Total |
| Program Services | 26235 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 631700 | Total |
| Program Services | 580372 | ProgramServices |
| Management And General | 51328 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 106821 | BOY |
| EOY | 38485 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3092 | BOY |
| EOY | 2861 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9512 | BOY |
| EOY | 8223 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 5673730 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 1404653 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4303138 | BOY |
| EOY | 4269077 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 207053 | BOY |
| EOY | 232593 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4629616 | BOY |
| EOY | 4551239 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111376 | BOY |
| EOY | 71334 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2537 | BOY |
| EOY | 2941 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5429800 | BOY |
| EOY | 5429800 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18935 | BOY |
| EOY | 15757 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5562648 | BOY |
| EOY | 5519832 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -933032 | BOY |
| EOY | -968593 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -933032 | BOY |
| EOY | -968593 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4629616 | BOY |
| EOY | 4551239 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | -35561 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 409810 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 394329 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 217085 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 318702 | CurrentTaxYearMinus1Year |
| Current Tax Year | 412255 | CurrentTaxYear |
| Total | 1752181 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 409810 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 394329 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 217085 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 318702 | CurrentTaxYearMinus1Year |
| Current Tax Year | 412255 | CurrentTaxYear |
| Total | 1752181 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 1752181 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 314 | CurrentTaxYearMinus1Year |
| Current Tax Year | 505 | CurrentTaxYear |
| Total | 819 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 1753000 | TotalSupport |
| Gross Receipts From Admissions Etc | 200006 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.99950 | PublicSupportPertcentage170 |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 29101 | OtherCostOrOtherBasis |
| Book Value | 29101 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5402803 | OtherCostOrOtherBasis |
| Depreciation | 1216937 | Depreciation |
| Book Value | 4185866 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 174607 | OtherCostOrOtherBasis |
| Depreciation | 174607 | Depreciation |
| Book Value | 0 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 67219 | OtherCostOrOtherBasis |
| Depreciation | 13109 | Depreciation |
| Book Value | 54110 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 4269077 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (2 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| TENANTS SECURITY DEPOSITS | 15757 |
| REPLACEMENT RESERVE | 216836 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 232593 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | TENANTS SECURITY DEPOSITS | Description |
| Amount | $15,757 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 15757 | TotalOfAmounts |
| Total Revenue | 596139 | TotalRevenue |
| Total Expenses | 631700 | TotalExpenses |
| Excess Or Deficit For Year | -35561 | ExcessOrDeficitForYear |
| Excess Or Deficit Per FS | -35561 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 596139 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 596139 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 596139 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 631700 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 631700 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 631700 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Description of Uncertain Tax Positions Under FIN 48: | Identifier |
| Return Reference | Part X: | ReturnReference |
| Explanation | Management has determined that the Project has no uncertain tax positions that would require financial statement recognition. The Project is no longer subject to audits by the applicable taxing jurisdictions for periods prior to 2008. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (4 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section B, line 11 | THE DRAFT FORM 990 IS INITIALLY PROVIDED TO THE MANAGING AGENT FOR REVIEW AND COMMENTS. ONCE REVIEWED AND COMMENTS ADDRESSED,COPY OF THE DRAFT FORM 990 IS PROVIDED TO THE BOARD THROUGH THE BOARD CHAIR FOR REVIEW COMMENTS AND APPROVAL FOR SUBMISSION TO THE IRS. |
| Form 990, Part VI, Section B, line 15 | THE CORPORATION HAS CONTRACTED LWC MANAGEMENT CORPORATION TO MANAGE THE PROJECT. MANAGEMENT FEES ARE DETERMINED AND APPROVED BY THE U.S. HOUSING AND URBAN DEVELOPMENT. COMPENSATION OF PROJECT EMPLOYEES FOR MAINTENANCE AND OTHER ADMINISTRATIVE TASKS ARE INITIALLY DETERMINED BY THE MANAGING AGENT BASED ON EXPERIENCE AND RATES OFFERED BY SIMILAR ENTITIES IN THE AREA, AND THEN PRESENTED TO THE BOARD. |
| Form 990, Part VI, Section C, line 19 | THE CORPORATION'S FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CONTACTING LWC MANAGEMENT CORPORATION LOCATED AT 2090 ADAM CLAYTON JR BLVD, SUITE 203, NEW YORK, NY 10027 OR BY CALLING (212) 665-5500. |
| THE BOARD OVERSIGHT ON THE SELECTION OF THE AUDITORS AND REVIEW OF AUDITED FINANCIAL STATEMENTS IS CONSISTENT WITH THAT OF THE PRIOR YEARS. THE BOARD APPROVES THE SELECTION OF THE AUDITOR AND THE FINANCIAL STATEMENTS ARE PROVIDED TO THE BOARD FOR REVIEW. |