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Palace Renaissance INC FY2021 filing

Not tax-deductible

New York, NYMutual-benefit / member-servingSince 1992Community Development EIN 13-3798133Revenue $216K in FY2021Latest return filed May 14, 2026

On file with the IRSbrc.org131 West 25th Street 12th Floor, 10001-7223 · New York, NYTax-exempt since Jul 2006

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The organization was formed to provide housing for elderly people of low-income experiencing homelessness in NYC.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $4K a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
28 mo
of spending, in cash
Looks good: 28.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.3M
109% of total assets
Concern: liabilities are 109% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$216K
-10% vs prior year
Spent
$182K
Net assets
−$502K
By yearFY2020–FY2025
Revenue
$216K
FY2021▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$240K
FY2021$216K
FY2022$210K
FY2023$211K
FY2024$204K
FY2025$201K
Expenses
$182K
FY2021▼ -35%
Tap a bar for its year
Expenses by fiscal year
FY2020$279K
FY2021$182K
FY2022$173K
FY2023$223K
FY2024$273K
FY2025$125K
Net assets
−$502K
FY2021▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020−$536K
FY2021−$502K
FY2022−$465K
FY2023−$477K
FY2024−$547K
FY2025−$471K

From the FY2021 Form 990 (year ending June 2021) · see the original

Give Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Julie Salamon
President
$0Pt VII · Sec A
Lawrence F Graham
Vice President
$0Pt VII · Sec A
Marcy E Wilkov
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Richard Swanson
Vice President
$0Pt VII · Sec A
Lawrence Rosenblatt
Vice President
$0Pt VII · Sec A
Rosalba Messina
Chief Financial Officer
$0Pt VII · Sec A
See Palace Renaissance INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides housing for homeless, low-income, and aged people in the New York City area.

Questions for Palace Renaissance INC

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1 program · in their own filed words · FY2020
01

Housing Services

BRC is a major provider of housing for people with a history of homelessness. It operates units of permanent housing. Residents have signed leases and tenancy rights. These apartments are dedicated for formerly homeless individuals with a history of mental illness AND/OR substance abuse.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$216K
Ln 12
Fees for servicesLn 2g$195K
Investment incomeLn 3$20K
Money outPt IX
$182K
Ln 25
Owns and owesPt X
−$502K
net assets · Ln 32
Cash and savingsLn 1–2$431K
Total assetsLn 16$5.8M
LiabilitiesLn 26$6.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$195K
Investment incomeLn 3$20K
Total revenueLn 12$216K
Assets in detailPt X, end of year
CashLn 1$431K
Cash and savings togetherLn 1–2$431K
Accounts receivableLn 4$292K
Prepaid expenses and deferred chargesLn 9$116K
Land, buildings, equipmentLn 10c$78K
Other assetsLn 15$4.9M
Total assetsLn 16$5.8M
LiabilitiesLn 26$6.3M
Net assetsLn 32−$502K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$363K$431K
Land, buildings, equipmentLn 10c$96K$78K
Total assetsLn 16$6.0M$5.8M
LiabilitiesLn 26$6.6M$6.3M
Net assetsLn 32−$536K−$502K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$7K
OccupancyLn 16$153K
InterestLn 20$788
Depreciation, depletion and amortizationLn 22$18K
Other expenses (24a–d)Ln 24$2K
Total functional expensesLn 25$182K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $201K$125K$76K−$471K 990 PDF
FY2024Filed with the IRS May 15, 2025 $204K$273K−$70K−$547K 990 PDF
FY2023Filed with the IRS Apr 19, 2024 $211K$223K−$12K−$477K 990 PDF
FY2022Filed with the IRS May 15, 2023 $210K$173K$37K−$465K 990 PDF
FY2021 ViewingFiled with the IRS May 10, 2022 $216K$182K$34K−$502K 990 PDF
FY2020Filed with the IRS May 13, 2021 $240K$279K−$39K−$536K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $215,526 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $214,854$195,181
I-10 Investment incomePrior year $25,355$20,345
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $240,209$215,526
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $279,023$181,687
I-18 Total expensesPrior year $279,023$181,687
I-19 Revenue less expensesPrior year −$38,814$33,839
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $215,526 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $195,181$195,181
VIII-3 Investment incomeExcluded from tax $20,345$20,345
VIII-12 Total revenueRelated to mission $195,181 · Unrelated business $0 · Excluded from tax $20,345$215,526
Part IX · Statement of functional expenses $181,687 across 5 lines filed
IX-11c Accounting fees$7,376
IX-16 Occupancy$153,445
IX-20 Interest$788
IX-22 Depreciation, depletion and amortization$17,935
IX-24 Other expenses (24a–d)$2,143
IX-25 Total functional expenses$181,687
Part X · Balance sheet $5,843,441 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $362,624$430,754
X-4 Accounts receivableStart of year $378,183$291,949
X-9 Prepaid expenses and deferred chargesStart of year $116,028$116,028
X-10c Land, buildings and equipment, netStart of year $96,365$78,430
X-15 Other assetsStart of year $5,070,915$4,926,280
X-16 Total assetsStart of year $6,024,115$5,843,441
X-17 Accounts payable and accrued expensesStart of year $43,817$26,177
X-19 Deferred revenueStart of year $3,614,347$3,419,165
X-23 Secured mortgages and notes payableStart of year $2,901,407$2,900,573
X-25 Other liabilitiesStart of year $857$0
X-26 Total liabilitiesStart of year $6,560,428$6,345,915
X-27 Net assets without donor restrictionsStart of year −$536,313−$502,474
X-32 Total net assets or fund balancesStart of year −$536,313−$502,474
X-33 Total liabilities and net assetsStart of year $6,024,115$5,843,441
Part XI · Reconciliation of net assets −$502,474 net assets at year end
XI-1 Total revenue$215,526
XI-2 Total expenses$181,687
XI-3 Revenue less expenses$33,839
XI-4 Net assets at start of year−$536,313
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$502,474

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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