Woodysun Housing Development Fund Corporation
- Assets
- $2.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Sunnyside, NY
- Founding
- 06/1980
- Data as of
- 12/2021
- EIN
- 13-3022900
Organization Overview
Woodysun Housing Development Fund Corporation is located in Sunnyside, NY. The organization was established in 1980. 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. As of 12/2021, Woodysun Housing Development Fund Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodysun 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, Woodysun Housing Development Fund Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. 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
TO DEVELOP AND OPERATE A HOUSING PROJECT FOR ELDERLY PERSONS OF LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOODYSUN HOUSING DEVELOPMENT FUND CORPORATION (THE "COMPANY"), A NOT FOR PROFIT ORGANIZATION, WAS ORGANIZED IN 1979 FOR THE PURPOSE OF DEVELOPING AND OPERATING A 78-UNIT RESIDENTIAL APARTMENT BUILDING COMPLEX IN WOODSIDE QUEENS, NEW YORK (THE "PROJECT") FOR ELDERLY, LOW-INCOME PERSONS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Heredia President | OfficerTrustee | 2 | $0 |
Gerald Lederman Vice President | OfficerTrustee | 2 | $0 |
David Espinosa Treasurer | OfficerTrustee | 2 | $0 |
Jacqueline Amaya Secretary | OfficerTrustee | 2 | $0 |
Joanne Smith Director | Trustee | 2 | $0 |
James Daley Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bright Power Electrical Upgrades | 12/30/20 | $107,663 |
Watch Guard 247 Llc Security Services | 12/30/20 | $109,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,346,648 |
| 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 | $1,346,648 |
| Total Program Service Revenue | $234,150 |
| Investment income | $59 |
| 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 | $1,582,357 |
| 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 | $137,148 |
| Pension plan accruals and contributions | $10,189 |
| Other employee benefits | $54,513 |
| Payroll taxes | $23,319 |
| Fees for services: Management | $51,943 |
| Fees for services: Legal | $1,976 |
| Fees for services: Accounting | $13,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $245,297 |
| Advertising and promotion | $0 |
| Office expenses | $10,101 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $619,260 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,439 |
| Insurance | $40,559 |
| All other expenses | $1,108 |
| Total functional expenses | $1,469,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,140 |
| Savings and temporary cash investments | $49,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,687 |
| 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 | $129,224 |
| Net Land, buildings, and equipment | $2,413,668 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $210,810 |
| Total assets | $2,909,072 |
| Accounts payable and accrued expenses | $180,563 |
| Grants payable | $0 |
| Deferred revenue | $17,491 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $16,347 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,535,912 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,750,313 |
| Net assets without donor restrictions | -$1,841,241 |
| 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 | $2,909,072 |
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