Cucs Initiatives Inc
- Assets
- $10.6m
- Revenue
- $803.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/2007
- Data as of
- 06/2021
- EIN
- 20-3733716
Organization Overview
Cucs Initiatives Inc is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, 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. Cucs Initiatives Inc 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 06/2021, Cucs Initiatives Inc generated $803.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $672.2k during the year ending 06/2021. 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
SEE SCHEDULE O, FORM 990, PART I, LINE 1.TO PROVIDE RELIEF TO THE POOR, DISTRESSED, AND UNDERPRIVILEDGED BY PROMOTING LOW-INCOME HOUSING AND ECONOMIC DEVELOPMENT IN IMPOVERISHED NEIGHBORHOODS IN THE CITY OF NY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THIS PROGRAM IS TO PROMOTE LOW INCOME HOUSING AND ECONOMIC DEVELOPMENT IN IMPOVERISHED NEIGHBORHOODS IN NEW YORK CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas C James Secretary | OfficerTrustee | 2 | $0 |
Joseph Degenova President | OfficerTrustee | 2 | $0 |
Julie Sandorf Vice President | OfficerTrustee | 2 | $0 |
Jeffrey Halfpenny Treasurer | Officer | 2 | $0 |
Anthony Hannigan President - Former 6/20 | 0 | $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 | $803,274 |
| Investment income | $3 |
| 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 | $803,277 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $291,244 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $328,592 |
| Insurance | $1,106 |
| All other expenses | $0 |
| Total functional expenses | $672,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,059 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,880 |
| 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 | $18,262 |
| Net Land, buildings, and equipment | $6,191,369 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,075,491 |
| Total assets | $10,594,061 |
| Accounts payable and accrued expenses | $56,884 |
| 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 | $5,248,619 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $832,617 |
| Total liabilities | $6,138,120 |
| Net assets without donor restrictions | $4,455,941 |
| 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 | $10,594,061 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cucs Initiatives Inc has recieved totaling $37,022.
| Awarding Organization | Amount |
|---|---|
Afya Foundation Inc Yonkers, NY PURPOSE: AID TO RELIEF ORGANIZATION | $27,022 |
Howard Gilman Foundation Inc New York, NY PURPOSE: STAFF OR TRUSTEE GRANT - GENERAL OPERATING SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont Housing Finance Agency Burlington, VT | $515,924,415 | $30,569,520 |
Massachusetts Housing Investment Corp Boston, MA | $51,753,115 | $18,783,706 |
Bluehub Loan Fund Inc Boston, MA | $271,825,520 | $22,754,955 |
Bridgeport Neighborhood Trust Inc Bridgeport, CT | $32,575,822 | $5,985,060 |
The Housing Partnership Fund Inc Boston, MA | $55,046,443 | $7,425,102 |
Housing Development Fund Inc Stamford, CT | $52,033,074 | $5,301,670 |
Brethren Home Foundation New Oxford, PA | $93,081,765 | $10,604,405 |
Charles T Sitrin Network Of Homes & Services Inc New Hartford, NY | $5,734,568 | $2,565,351 |
Community Lenders Community Development Corporation Souderton, PA | $50,531,502 | $2,129,949 |
St Andrews Housing Dev Fund Co Bronx, NY | $6,076,696 | $1,599,941 |
Concorse Gardens Housing Development Fund Company Inc New York, NY | $6,125,545 | $1,915,994 |
Our Lady Of Fatima Apartments Housing Dev Fund Company Inc Brooklyn, NY | $6,530,778 | $972,901 |