Woodysun Housing Development Fund Corporation
- Assets
- $3.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Sunnyside, NY
- Founding
- 06/1980
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Woodysun Housing Development Fund Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. 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
2022
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 |
William Jourdain Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Watch Guard 247 Llc Security Services | 12/30/20 | $109,568 |
Bright Power Electrical Upgrades | 12/30/20 | $107,663 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,321,547 |
| 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 | $1,321,547 |
| Total Program Service Revenue | $253,840 |
| Investment income | $562 |
| 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 | $1,577,449 |
| 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 | $161,349 |
| Pension plan accruals and contributions | $15,891 |
| Other employee benefits | $45,943 |
| Payroll taxes | $21,900 |
| Fees for services: Management | $52,759 |
| Fees for services: Legal | $6,335 |
| Fees for services: Accounting | $8,513 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $266,002 |
| Advertising and promotion | $14,184 |
| Office expenses | $10,911 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $539,286 |
| 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 | $120,205 |
| Insurance | $38,138 |
| All other expenses | $3,095 |
| Total functional expenses | $1,440,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,704 |
| Savings and temporary cash investments | $50,051 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,761 |
| 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 | $6,842 |
| Net Land, buildings, and equipment | $2,383,107 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $383,431 |
| Total assets | $3,018,896 |
| Accounts payable and accrued expenses | $243,052 |
| Grants payable | $0 |
| Deferred revenue | $14,453 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,873 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,448,300 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,723,678 |
| Net assets without donor restrictions | -$1,704,782 |
| 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 | $3,018,896 |