Fair Housing Development Fund Corp: FY2022 Nonprofit Profile & Form 990 (EIN 23-7129067)

Revenue by fiscal year
FY2020	$743K
FY2021	$737K
FY2022	$721K
FY2023	$726K

Expenses by fiscal year
FY2020	$747K
FY2021	$802K
FY2022	$730K
FY2023	$848K

Net assets by fiscal year
FY2020	$1.3M
FY2021	$1.2M
FY2022	$1.2M
FY2023	$1.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Aug 1971.

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

Where the money goes

79 cents of each dollar spent went to programs.

79%

21%

Program services 79% · $578K Management & general 21% · $152K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Bruce McCurty

President

$0Pt VII · Sec A

Rev Alfred Evans

Board Member

$0Pt VII · Sec A

See Fair Housing Development Fund Corp 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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and manages affordable housing for low and middle-income families.

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Provided by the organization

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1 program · $578K · in their own filed words · FY2021

01

On a not-for-profit basis, the organization owns and operates a section 236 hud financed multifamily housing project. The project consists of 54 units of affordable rental housing for persons of limited means in glen cove, new york.

$578Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$721K

Ln 12

Fees for servicesLn 2g$717K

Other incomeLn 4–11$4K

Investment incomeLn 3$225

Money outPt IX

$730K

Ln 25

Programscol B$578K

Managementcol C$152K

Owns and owesPt X

$1.2M

net assets · Ln 32

Cash and savingsLn 1–2$572K

Total assetsLn 16$1.3M

LiabilitiesLn 26$97K

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$717K

Investment incomeLn 3$225

Other incomeLn 4–11$4K

Total revenueLn 12$721K

Assets in detailPt X, end of year

CashLn 1$572K

Cash and savings togetherLn 1–2$572K

Land, buildings, equipmentLn 10c$590K

Other assetsLn 15$45K

Total assetsLn 16$1.3M

LiabilitiesLn 26$97K

Net assetsLn 32$1.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderMay

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

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$641K	$572K
Land, buildings, equipmentLn 10c	$588K	$590K
Total assetsLn 16	$1.4M	$1.3M
LiabilitiesLn 26	$142K	$97K
Net assetsLn 32	$1.2M	$1.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$58K	$42K	$15K
Other employee benefitsLn 9	$21K	$21K
Payroll taxesLn 10	$4K	$4K
Management feesLn 11a	$56K		$56K
Legal feesLn 11b	$16K		$16K
Accounting feesLn 11c	$15K		$15K
Office expensesLn 13	$6K		$6K
OccupancyLn 16	$8K	$8K
Depreciation, depletion and amortizationLn 22	$80K	$80K
InsuranceLn 23	$205K	$205K
Other expenses (24a–d)Ln 24	$219K	$195K	$24K
All other expensesLn 24e	$42K	$23K	$19K
Total functional expensesLn 25	$730K	$578K	$152K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest	$726K	$848K	−$122K	$1.1M	990 PDF
FY2022 Viewing	$721K	$730K	−$8K	$1.2M	990 PDF
FY2021	$737K	$802K	−$66K	$1.2M	990 PDF
FY2020	$743K	$747K	−$4K	$1.3M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $721,335 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $736,262$716,681

I-10 Investment incomePrior year $287$225

I-11 Other revenuePrior year $0$4,429

I-12 Total revenuePrior year $736,549$721,335

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 $106,639$82,252

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $695,609$647,252

I-18 Total expensesPrior year $802,248$729,504

I-19 Revenue less expensesPrior year −$65,699−$8,169

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

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 $721,335 across 4 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $716,681$716,681

VIII-3 Investment incomeExcluded from tax $225$225

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,429$4,429

VIII-12 Total revenueRelated to mission $721,110 · Unrelated business $0 · Excluded from tax $225$721,335

Part IX · Statement of functional expenses $729,504 across 12 lines filed

IX-7 Other salaries and wagesPrograms $42,475 · Management $15,085$57,560

IX-9 Other employee benefitsPrograms $20,899$20,899

IX-10 Payroll taxesPrograms $3,793$3,793

IX-11a Management feesManagement $55,722$55,722

IX-11b Legal feesManagement $16,349$16,349

IX-11c Accounting feesManagement $15,350$15,350

IX-13 Office expensesManagement $5,663$5,663

IX-16 OccupancyPrograms $7,500$7,500

IX-22 Depreciation, depletion and amortizationPrograms $80,330$80,330

IX-23 InsurancePrograms $205,443$205,443

IX-24 Other expenses (24a–d)Programs $194,670 · Management $24,207$218,877

IX-24e All other expensesPrograms $22,753 · Management $19,265$42,018

IX-25 Total functional expensesPrograms $577,863 · Management $151,641 · Fundraising $0$729,504

Part X · Balance sheet $1,303,259 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $640,661$572,445

X-4 Accounts receivableStart of year $41,311$53,619

X-9 Prepaid expenses and deferred chargesStart of year $42,720$41,763

X-10c Land, buildings and equipment, netStart of year $587,859$590,227

X-15 Other assetsStart of year $43,345$45,205

X-16 Total assetsStart of year $1,355,896$1,303,259

X-17 Accounts payable and accrued expensesStart of year $97,945$59,420

X-19 Deferred revenueStart of year $10,123$3,693

X-25 Other liabilitiesStart of year $33,647$34,134

X-26 Total liabilitiesStart of year $141,715$97,247

X-27 Net assets without donor restrictionsStart of year $1,214,181$1,206,012

X-32 Total net assets or fund balancesStart of year $1,214,181$1,206,012

X-33 Total liabilities and net assetsStart of year $1,355,896$1,303,259

Part XI · Reconciliation of net assets $1,206,012 net assets at year end

XI-1 Total revenue$721,335

XI-2 Total expenses$729,504

XI-3 Revenue less expenses−$8,169

XI-4 Net assets at start of year$1,214,181

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,206,012

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Fair Housing Development Fund Corp FY2022 filing

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