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Prospect Place Housing Development FY2021 filing

Bronx, NYUnknown exempt organization EIN 13-3819621Revenue $321K in FY2021Latest filing we have: 2021. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSBronx, NY

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To provide low income Housing to low and moderate income families.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 13-3819621) · Dispute this line
90¢ of each $1 spent went to programs.
$3K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $19K a year · 7% of revenue · last 3 filings
A surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
90%
of spending
90% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3K
to officers and key staff · 0.8% of spending
Pay to officers and key staff is 0.8% of spending.
Part VII, Section A
Cash reserves
6.0 mo
of spending, in cash
6.0 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$94K
20% of total assets
Liabilities are 20% of assets.
Pt X · Ln 26
Independent board members
5
of 6 voting members
5 of 6 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$321K
+5% vs prior year
Spent
$325K
To programs
90%
Net assets
$372K
By yearFY2020–FY2022
Revenue
$321K
FY2021▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$306K
FY2021$321K
FY2022$158K
Expenses
$325K
FY2021▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$301K
FY2021$325K
FY2022$218K
Net assets
$372K
FY2021▼ -0.9%
Tap a bar for its year
Net assets by fiscal year
FY2020$375K
FY2021$372K
FY2022$0

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

990 PDF Support Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $293K Management & general 10% · $32K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990; $3K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Jason Boroff
Vice Chair/T
$2,664Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Steven Seltzer
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
Jean Bonhomme
Controller
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Jason Boroff$2,664$3,914

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Prospect Place Housing Development 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

Builds and provides affordable homes for low and moderate-income families.

Questions for Prospect Place Housing Development

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1 program · $293K · in their own filed words · FY2020
01

To provide safe, clean and affordable housing to low and moderate income families in the south bronx, ny.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 13-3819621) · Dispute this line
$293Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$321K
Ln 12
Fees for servicesLn 2g$312K
Gifts and grantsLn 1h$9K
Investment incomeLn 3$3
Money outPt IX
$325K
Ln 25
Programscol B$293K
Managementcol C$32K
Owns and owesPt X
$372K
net assets · Ln 32
Cash and savingsLn 1–2$163K
Total assetsLn 16$466K
LiabilitiesLn 26$94K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9K
Fees for servicesLn 2g$312K
Investment incomeLn 3$3
Total revenueLn 12$321K
Assets in detailPt X, end of year
CashLn 1$136K
SavingsLn 2$27K
Cash and savings togetherLn 1–2$163K
Accounts receivableLn 4$67K
Prepaid expenses and deferred chargesLn 9$8K
Land, buildings, equipmentLn 10c$101K
Other assetsLn 15$127K
Total assetsLn 16$466K
LiabilitiesLn 26$94K
Net assetsLn 32$372K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$210K$163K
Land, buildings, equipmentLn 10c$142K$101K
Total assetsLn 16$466K$466K
LiabilitiesLn 26$90K$94K
Net assetsLn 32$375K$372K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$30K$30K
Other employee benefitsLn 9$14K$14K
Payroll taxesLn 10$3K$3K
Management feesLn 11a$24K$24K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$5K$5K
OccupancyLn 16$92K$92K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$36K$36K
Other expenses (24a–d)Ln 24$67K$67K$100
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$325K$293K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 LatestFiled with the IRS May 11, 2023 $158K$218K−$59K$0 990 PDF
FY2021 ViewingFiled with the IRS Apr 19, 2022 $321K$325K−$3K$372K 990 PDF
FY2020Filed with the IRS May 13, 2021 $306K$301K$5K$375K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $321,497 revenue, 12 lines filed
I-8 Contributions and grants$9,275
I-9 Program service revenuePrior year $305,587$312,219
I-10 Investment incomePrior year $54$3
I-11 Other revenuePrior year $10$0
I-12 Total revenuePrior year $305,651$321,497
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $48,815$46,406
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $252,284$278,566
I-18 Total expensesPrior year $301,099$324,972
I-19 Revenue less expensesPrior year $4,552−$3,475
Part VI · Governance 5 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $321,497 across 5 lines filed
VIII-1d Related organizations$9,275
VIII-1h Total contributions, gifts and grants$9,275
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $312,219$312,219
VIII-3 Investment incomeRelated to mission $3$3
VIII-12 Total revenueRelated to mission $312,222$321,497
Part IX · Statement of functional expenses $324,972 across 11 lines filed
IX-7 Other salaries and wagesPrograms $29,688$29,688
IX-9 Other employee benefitsPrograms $14,143$14,143
IX-10 Payroll taxesPrograms $2,575$2,575
IX-11a Management feesManagement $23,853$23,853
IX-11c Accounting feesManagement $8,000$8,000
IX-11g Other fees for servicesPrograms $4,651$4,651
IX-16 OccupancyPrograms $91,655$91,655
IX-22 Depreciation, depletion and amortizationPrograms $40,871$40,871
IX-23 InsurancePrograms $35,988$35,988
IX-24 Other expenses (24a–d)Programs $67,085 · Management $100$67,185
IX-24e All other expensesPrograms $6,363$6,363
IX-25 Total functional expensesPrograms $293,019 · Management $31,953 · Fundraising $0$324,972
Part X · Balance sheet $466,005 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $182,453$135,949
X-2 Savings and temporary cash investmentsStart of year $27,495$27,398
X-4 Accounts receivableStart of year $85,761$66,621
X-9 Prepaid expenses and deferred chargesStart of year $6,076$8,263
X-10c Land, buildings and equipment, netStart of year $141,538$100,667
X-15 Other assetsStart of year $22,248$127,107
X-16 Total assetsStart of year $465,571$466,005
X-17 Accounts payable and accrued expensesStart of year $30,655$28,873
X-21 Escrow or custodial accountsStart of year $10,496$10,366
X-24 Unsecured notes and loans payableStart of year $43,741$42,855
X-25 Other liabilitiesStart of year $5,393$12,100
X-26 Total liabilitiesStart of year $90,285$94,194
X-27 Net assets without donor restrictionsStart of year $375,286$371,811
X-32 Total net assets or fund balancesStart of year $375,286$371,811
X-33 Total liabilities and net assetsStart of year $465,571$466,005
Part XI · Reconciliation of net assets $371,811 net assets at year end
XI-1 Total revenue$321,497
XI-2 Total expenses$324,972
XI-3 Revenue less expenses−$3,475
XI-4 Net assets at start of year$375,286
XI-10 Net assets at end of year$371,811

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

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