Sound View Apartments Housing Development Fund Company Inc
- Assets
- $9.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- New Rochelle, NY
- Founding
- 11/1978
- Data as of
- 12/2022
- EIN
- 13-2955399
Organization Overview
Sound View Apartments Housing Development Fund Company Inc is located in New Rochelle, NY. The organization was established in 1978. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Sound View Apartments Housing Development Fund Company Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUND VIEW APARTMENTS HOUSING DEVELOPMENT FUND COMPANY, INC. OWNS AND OPERATES A 135-UNIT SENIOR HOUSING FACILITY FOR LOW-INCOME ELDERLY PERSONS IN NEW ROCHELLE, NEW YORK (THE "PROJECT"). THE ORGANIZATION PARTICIPATES IN SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS. ITS PRIMARY SOURCES OF REVENUE ARE RENT SUBSIDIES FROM HUD AND RENT PAYMENTS FROM TENANTS. SUCH PROJECTS ARE REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WITH RESPECT TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Malcolm H Lazarus Chair | 1 | $0 | |
Rita C Mabli President/ceo | 1 | $0 | |
Mark Hartman Treasurer | 1 | $0 | |
Rosermary Mclaughlin Secretary | 1 | $0 | |
Pearl Quarles Director | 1 | $0 | |
Rabia DE Lande Long Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,745,438 |
| Interest on Savings | $1,233 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $19,749 |
| Total Revenue | $2,365,619 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $600,648 |
| Pension plans, employee benefits | $352,410 |
| Interest | $359,227 |
| Taxes | $0 |
| Depreciation | $599,375 |
| Occupancy | $382,565 |
| Travel, conferences, and meetings | $1,148 |
| Printing and publications | $0 |
| Other expenses | $313,623 |
| Total operating and administrative expenses | $2,812,814 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,812,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,548 |
| Savings and temporary cash investments | $1,231,849 |
| Net Accounts receivable | $29,056 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,302 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,182,991 |
| Other assets | $290,045 |
| Total assets | $8,975,791 |
| Accounts payable and accrued expenses | $178,113 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $10,122,696 |
| Other liabilities | $222,991 |
| Total liabilities | $10,523,800 |