Los Sures Sip Housing Development Fund Corporation
- Assets
- $7.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 11-3104312
Organization Overview
Los Sures Sip Housing Development Fund Corporation is located in Brooklyn, NY. The organization was established in 2015. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Sures Sip Housing Development Fund Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Los Sures Sip Housing Development Fund Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 5.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATED A HOUSING PROJECT FOR PERSONS OF LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING: THE HOUSING PROJECT CONSISTS OF SIX BUILDING CONTAINING A TOTAL OF ONE HUNDRED AND TWENTY-SEVEN (127) RESIDENTIAL APARTMENTS FOR LOW-INCOME RESIDENT AND CONTAINS 4 COMMERCIAL UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lopez Chairman | OfficerTrustee | 0.5 | $0 |
Cassandra Acevedo Secretary | OfficerTrustee | 0.5 | $0 |
Israel Rosario Treasurer | OfficerTrustee | 0.5 | $0 |
Ray Narvaez Vice Chairman | OfficerTrustee | 0.5 | $0 |
Juan Ramos Executive Director | Officer | 0.5 | $0 |
Lenette Berrios Finance Director | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $225,525 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,525 |
| Total Program Service Revenue | $1,621,835 |
| Investment income | $553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,882,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $130,499 |
| Fees for services: Legal | $25,717 |
| Fees for services: Accounting | $16,461 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,323 |
| Advertising and promotion | $0 |
| Office expenses | $17,356 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $455,201 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $268,324 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $261,224 |
| Insurance | $121,032 |
| All other expenses | $0 |
| Total functional expenses | $2,024,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,629 |
| Savings and temporary cash investments | $563,622 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $117,098 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,715 |
| Net Land, buildings, and equipment | $6,138,216 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,931 |
| Total assets | $7,005,211 |
| Accounts payable and accrued expenses | $437,614 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,493,491 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $370,740 |
| Total liabilities | $11,301,845 |
| Net assets without donor restrictions | -$4,296,634 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,005,211 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Los Sures Sip Housing Development Fund Corporation has recieved totaling $10,932.
| Awarding Organization | Amount |
|---|---|
Hunger Free America Inc New York, NY PURPOSE: IN-KIND CONTRIBUTION OF PPE | $10,932 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |