New York Apartment Association Inc
- Assets
- $59.9m
- Revenue
- $8.1m
- Investments
- $340.2k
- Employees
- 21
- Location
- New York, NY
- Founding
- 01/1970
- Data as of
- 12/2023
- EIN
- 13-2634120
Organization Overview
New York Apartment Association Inc is located in New York, NY. The organization was established in 1970. According to its NTEE Classification (L03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, New York Apartment Association Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Apartment Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, New York Apartment Association Inc generated $8.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $9.0m during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 9 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.
Since 2014, New York Apartment Association Inc has awarded 31 individual grants totaling $5,638,824. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVOCATES FOR THE PROPERTY RIGHTS OF ITS MEMBERS (RENT-REGULATED PROPERTY OWNERS IN NEW YORK CITY) THROUGH LEGISLATIVE AND LEGAL ACTION, KEEPS ITS MEMBERSHIP INFORMED ON CRITICAL ISSUES THROUGH ITS NEWSLETTER, SEMINARS, WEBSITE AND OTHER OUTREACH MECHANISMS AND PROVIDES OWNERS WITH SERVICES THEY NEED, EITHER DIRECTLY OR BY REFERRAL, TO MAINTAIN AND OPERATE THEIR PROPERTIES WITHIN LEGAL REQUIREMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP DUES- MEMBERSHIP INCOME IS BASED ON A FEE OF $7.00 PER APARTMENT/UNIT. DUES ARE USED FOR PROVIDING INFORMATION REGARDING RENT STABILIZED APARTMENTS VIA NEWSLETTER, EMAIL & OTHER PUBLICATIONS. THE ORGANIZATION IS ACTIVE IN REPRESENTING THE INTERESTS OF OWNERS BEFORE THE STATE AND LOCAL GOVERNMENTS. RSA SUPPLIES DATA TO THE RENT GUIDELINES BOARD IN ITS DELIBERATIONS WITH REGARD TO RENT INCREASES FOR RENT STABILIZED APARTMENTS, AND HOLDS DISCUSSIONS AND MEETINGS WITH GOVERNMENT ON TECHNICAL CHANGES AND BUILDING REGULATIONS INVOLVED WITH MEMBERS' BUILDINGS.
RENT REGISTRATION- THIS SERVICE PROVIDES REGISTRATION OF RENT STABILIZED APARTMENTS AND RECORD/INFORMATION RETENTION AS REQUIRED BY NEW YORK STATE DIVISION OF HOUSING & COMMITTEE RENEWAL (DHCR).LEASE RENEWAL SERVICE- RSA SENDS OUT FORMS TO LANDLORDS FOR THE RENEWAL OF THE TENANTS' LEASES, AS SCHEDULED, PRIOR TO THE LEASE EXPIRATIONS. THE LEASES PROVIDE FOR CHOICES OF ONE AND TWO YEAR RENEWALS AND THE APPROPRIATE INCREASES.
SAFETY RELATED SERVICES-WINDOW GUARD/LEAD PAINT SERVICES: THESE SERVICES CONSISTS OF MAILINGS TO OVER 400,000 TENANTS SO THAT REAL ESTATE OWNERS AND MANAGEMENT AGENTS CAN DETERMINE IF WINDOW GUARDS NEED TO BE INSTALLED IN ACCORDANCE WITH NEW YORK CITY LAW. FIRE SAFETY SERVICE: ON AN ANNUAL BASIS, ALL OWNERS OF MULTIPLE DWELLINGS MUST COMPLY WITH THE NEW YORK CITY FIRE DEPARTMENT REGULATIONS, REQUIRING OWNERS TO PREPARE AND DISTRIBUTE A FIRE SAFETY PLAN CONTAINING FIRE SAFETY AND EVACUATION PROCEDURES.ADDITIONALLY, IT IS REQUIRED FOR OWNERS TO DISTRIBUTE AND POST A FIRE SAFETY NOTICE INFORMING RESIDENTS OF PROCEDURES TO BE FOLLOWED IN THE EVENT OF A FIRE IN THE BUILDING. RSA FIRE SAFETY SERVICES PREPARES AND DISTRIBUTES ALL REQUIRED INFORMATION, INCLUDING:-DEVELOPMENT OF A CUSTOMIZED FIRE SAFETY PLAN FOR EACH BUILDING-MAILING FIRE SAFETY PLAN TO ALL TENANTS AND BUILDING EMPLOYEES -FURNISHING APPROPRIATE FIRE SAFETY NOTICES (LONG-LASTING SELF ADHESIVE VINYL) TO BE POSTED IN INDIVIDUAL APARTMENTS-PROVIDING PROOF OF MAILING AND MEETING FOUR YEAR RECORD REQUIREMENTS
LEGAL FUND- THE LEGAL FUND CONSISTS OF VOLUNTARY CONTRIBUTIONS RESTRICTED TO MATTERS RELATED TO REGULATIONS AND LAWS ENACTED ON FEDERAL, STATE AND LOCAL LEVELS, AND TO ASSIST MEMBERS IN INITIATING AND APPEALING LITIGATION CLAIMS. SUCH REVENUE IS RECOGNIZED AT THE TIME WHEN CONTRIBUTIONS ARE MADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Sirulnick Chairman | OfficerTrustee | 0.1 | $0 |
Michael Laub Secretary | OfficerTrustee | 0.1 | $0 |
Lennard Katz Treasurer | OfficerTrustee | 0.1 | $0 |
Christopher Athineos Director | Trustee | 0.1 | $0 |
Jessica Baran Director | Trustee | 0.1 | $0 |
Michelle Bengelsdorf Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ims Inc Printing And Postage Services | 12/30/23 | $439,689 |
Continental Management Solutions Data Processing | 12/30/23 | $477,600 |
Homeowners For An Affordable Ny Llc Advertising Services | 12/30/23 | $409,887 |
Perlmanperlman Llp Consulting (Merger) Services | 12/30/23 | $330,880 |
Mayer Brown Llp Legal Services | 12/30/23 | $227,725 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,539,404 |
| Investment income | $1,467,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,010,291 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,069,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $757,116 |
| 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. | $1,788,223 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,448,561 |
| Pension plan accruals and contributions | $67,870 |
| Other employee benefits | $368,763 |
| Payroll taxes | $173,150 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $386,361 |
| Fees for services: Accounting | $66,000 |
| Fees for services: Lobbying | $120,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $271,882 |
| Fees for services: Other | $645,530 |
| Advertising and promotion | $417,813 |
| Office expenses | $683,227 |
| Information technology | $513,674 |
| Royalties | $0 |
| Occupancy | $842,718 |
| Travel | $96,896 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,320 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,559 |
| Insurance | $71,495 |
| All other expenses | $0 |
| Total functional expenses | $8,993,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $596,148 |
| Savings and temporary cash investments | $2,856,765 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,070 |
| 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 | $243,965 |
| Net Land, buildings, and equipment | $464,232 |
| Investments—publicly traded securities | $52,087,563 |
| Investments—other securities | $340,195 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,277,405 |
| Total assets | $59,870,343 |
| Accounts payable and accrued expenses | $511,422 |
| Grants payable | $0 |
| Deferred revenue | $696,905 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,958,828 |
| Total liabilities | $5,167,155 |
| Net assets without donor restrictions | $54,703,188 |
| 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 | $59,870,343 |
Grants Awarded
Over the last fiscal year, New York Apartment Association Inc has awarded $739,517 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BELKIN BURDEN WENIG & GOLDMAN LLP PURPOSE: GENERAL SUPPORT | $51,095 |
INNER CIRCLE PURPOSE: GENERAL SUPPORT | $8,500 |
COMMITTEE FOR SENSIBLE GOVERNMENT PURPOSE: GENERAL SUPPORT | $10,000 |
WOMEN IN NEED INC PURPOSE: GENERAL SUPPORT | $15,000 |
COMMUNITY HOUSING IMPROVEMENT PROGRAM INC PURPOSE: GENERAL SUPPORT | $654,922 |