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Varick Homes Housing Dev Fund INC

Tax-deductible

Newburgh, NY501(c)(3)HousingEIN 14-1548784

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To provide low income Housing for 122 units under the national Housing act.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 4
filings with a surplus
Average deficit $6K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$419K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-4% vs prior year
Spent
$2.2M
To programs
71%
Net assets
$4.7M
By yearFY2022–FY2025
Revenue
$2.2M
FY2025▼ -4%
Revenue by fiscal year
FY2022$1.9M
FY2023$2.0M
FY2024$2.2M
FY2025$2.2M
Expenses
$2.2M
FY2025▲ +20%
Expenses by fiscal year
FY2022$1.8M
FY2023$2.4M
FY2024$1.9M
FY2025$2.2M
Net assets
$4.7M
FY2025▼ -2%
Net assets by fiscal year
FY2022$4.8M
FY2023$4.4M
FY2024$4.8M
FY2025$4.7M

From the FY2025 Form 990 (year ending February 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2004.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $1.6M Management & general 29% · $646K

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

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Riki Peterson-Jicha
Vice-President/Secretary
$0Pt VII · Sec A
Onyx Peterson
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Varick Homes Housing Dev Fund INC executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable housing units for low-income individuals and families.

Provided by the organization

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1 program · $1.6M · in their own filed words · FY2024
01

Operation of a residential apartment complex consisting of 122 rental units in newburgh, new york.

$1.6Mprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$983K
Other incomeLn 4–11$32K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.6M
Managementcol C$646K
Owns and owesPt X
$4.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$5.1M
LiabilitiesLn 26$419K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$1.1M
Fees for servicesLn 2g$983K
Other incomeLn 4–11$32K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$1.5M
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$360K
Other assetsLn 15$2.9M
Total assetsLn 16$5.1M
LiabilitiesLn 26$419K
Net assetsLn 32$4.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderFebruary
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 FY25End FY25
Cash and savingsLn 1–2$301K$1.5M
Land, buildings, equipmentLn 10c$443K$360K
Total assetsLn 16$5.1M$5.1M
LiabilitiesLn 26$351K$419K
Net assetsLn 32$4.8M$4.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$102K$102K
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$138K$128K$10K
Advertising and promotionLn 12$461$461
Office expensesLn 13$46K$7K$39K
Information technologyLn 14$15K$15K
OccupancyLn 16$841K$818K$24K
TravelLn 17$3K$3K
Depreciation, depletion and amortizationLn 22$139K$139K
Other expenses (24a–d)Ln 24$916K$492K$424K
Total functional expensesLn 25$2.2M$1.6M$646K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.2M$2.2M−$79K$4.7M 990 PDF
FY2024 $2.2M$1.9M$365K$4.8M 990 PDF
FY2023 $2.0M$2.4M−$421K$4.4M 990 PDF
FY2022 $1.9M$1.8M$111K$4.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $2,150,951 across 5 lines filed
VIII-1e Government grants$1,136,357
VIII-1h Total contributions, gifts and grants$1,136,357
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $982,995$982,995
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $31,599$31,599
VIII-12 Total revenueRelated to mission $982,995 · Unrelated business $0 · Excluded from tax $31,599$2,150,951
Part IX · Statement of functional expenses $2,230,229 across 11 lines filed
IX-11a Management feesManagement $102,000$102,000
IX-11b Legal feesManagement $11,474$11,474
IX-11c Accounting feesManagement $18,430$18,430
IX-11g Other fees for servicesPrograms $128,453 · Management $9,640$138,093
IX-12 Advertising and promotionManagement $461$461
IX-13 Office expensesPrograms $7,260 · Management $38,705$45,965
IX-14 Information technologyManagement $15,121$15,121
IX-16 OccupancyPrograms $817,540 · Management $23,822$841,362
IX-17 TravelManagement $2,788$2,788
IX-22 Depreciation, depletion and amortizationPrograms $138,961$138,961
IX-24 Other expenses (24a–d)Programs $491,815 · Management $423,759$915,574
IX-25 Total functional expensesPrograms $1,584,029 · Management $646,200 · Fundraising $0$2,230,229
Part X · Balance sheet $5,118,942 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $301,419$1,464,785
X-4 Accounts receivableStart of year $1,148,836$225,961
X-9 Prepaid expenses and deferred chargesStart of year $123,928$173,290
X-10c Land, buildings and equipment, netStart of year $442,888$359,791
X-15 Other assetsStart of year $3,113,072$2,895,115
X-16 Total assetsStart of year $5,130,143$5,118,942
X-17 Accounts payable and accrued expensesStart of year $208,825$278,348
X-25 Other liabilitiesStart of year $88,727$84,078
X-26 Total liabilitiesStart of year $351,298$419,375
X-27 Net assets without donor restrictionsStart of year $4,778,845$4,699,567
X-32 Total net assets or fund balancesStart of year $4,778,845$4,699,567
X-33 Total liabilities and net assetsStart of year $5,130,143$5,118,942
Part XI · Reconciliation of net assets $4,699,567 net assets at year end
XI-1 Total revenue$2,150,951
XI-2 Total expenses$2,230,229
XI-3 Revenue less expenses−$79,278
XI-4 Net assets at start of year$4,778,845
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,699,567

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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