Mrc-754 East 161st Street Housing Development Fund Corporation
- Assets
- $4.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Bronx, NY
- Founding
- Data as of
- 06/2022
- EIN
- 13-3833870
Organization Overview
Mrc-754 East 161st Street Housing Development Fund Corporation is located in Bronx, NY. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mrc-754 East 161st Street 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 06/2022, Mrc-754 East 161st Street Housing Development Fund Corporation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 2 years. 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
AFFORDABLE HOUSING PROJECT FOR PERSONS OF LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Izzy Kukaj Vice President | OfficerTrustee | 0.5 | $0 |
Fredrica Clark On 921 Secretary | OfficerTrustee | 0.5 | $0 |
Helen Foreman-Hines President | OfficerTrustee | 1 | $0 |
Robert Balachandran On 921 Vice President | OfficerTrustee | 0.5 | $0 |
Sean Turner On 921 Treasurer | OfficerTrustee | 0.5 | $0 |
Glenda Campbell Off 921 Vice President | OfficerTrustee | 0.5 | $0 |
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 | $1,084,489 |
| Investment income | $0 |
| 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 | $1,084,489 |
| 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 | $67,822 |
| Fees for services: Legal | $16,484 |
| Fees for services: Accounting | $75,808 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $124,530 |
| Advertising and promotion | $0 |
| Office expenses | $23,934 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $88,281 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $289,303 |
| Insurance | $172,816 |
| All other expenses | $0 |
| Total functional expenses | $1,190,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $370,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $175,228 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,464,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $560,723 |
| Total assets | $4,580,532 |
| Accounts payable and accrued expenses | $14,405 |
| 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 | $1,570,263 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $73,335 |
| Total liabilities | $1,658,003 |
| Net assets without donor restrictions | $2,922,529 |
| 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 | $4,580,532 |
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