Village Housing Development Corp

Tax-deductible

New York, NY501(c)(3)Since 1998HousingEIN 31-1619096Revenue $6.0M in FY2024

On file with the IRSvillagecare.org120 Broadway Ste 2840, 10271-0009 · New York, NYTax-exempt since Feb 1999Publicly supported — 509(a)(2)

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Village Housing Development fund corporation (vhdfc) operates a medicaid assisted living, independent living, and enriched Housing program.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 7 volunteers and 52 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $12K a year · under 1% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$550K
to officers and key staff · 9% of spending
Top officer’s pay higher than 96% of similar orgs
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1.4M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$10.7M
123% of total assets
Concern: liabilities are 123% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.0M
+3% vs prior year
Spent
$6.0M
To programs
90%
Net assets
−$2.0M
By yearFY2020–FY2024
Revenue
$6.0M
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.6M
FY2021$5.9M
FY2022$5.9M
FY2023$5.9M
FY2024$6.0M
Expenses
$6.0M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.6M
FY2021$5.9M
FY2022$5.9M
FY2023$5.8M
FY2024$6.0M
Net assets
−$2.0M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020−$2.1M
FY2021−$2.1M
FY2022−$2.1M
FY2023−$2.1M
FY2024−$2.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1999.

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% · $5.4M Management & general 10% · $617K

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

12 people listed on the 990; $550K paid to officers and key staff.

Part VII, Section A · reportable compensation
SVP of Program Operations
$302,076Pt VII · Sec A
Alp Nurse Manager
$133,021Pt VII · Sec A
Program Services Coordinator
$114,584Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President and CEO
$0Pt VII · Sec A
$0Pt VII · Sec A

Sandy D Freeland’s $302K as SVP of Program Operations is at the 96th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sandy D Freeland$302,076$308,333$286,116$212,819$274,510
Nicole Elaine McKenzie$133,021————
Remal Valentine-Miles———$127,596$122,638
Catherine Charles—$116,128$126,869——
Darryl Hall$114,584$108,869$107,002$100,665—
Deborah Ellen Batson—$111,071———

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.

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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

Provides Medicaid-assisted living, independent living, and enriched housing programs.

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Provided by the organization

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1 program · $5.4M · in their own filed words · FY2024
01

VHDFC operates a medicaid assisted living, independent living, and enriched housing program. Services include assistance with activities of daily living, medication assistance, housekeeping, a dynamic activities program, and restaurant-style meals. In 2024, VHDFC provided housing, food, and care for over 31,611 resident days.

$5.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$1.4M

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.0M
Ln 12
Fees for servicesLn 2g$4.5M
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$34K
Money outPt IX
$6.0M
Ln 25
Programscol B$5.4M
Managementcol C$617K
Owns and owesPt X
−$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$49K
Total assetsLn 16$8.7M
LiabilitiesLn 26$10.7M
PeoplePt VI, VII
12
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$232K
Fees for servicesLn 2g$4.5M
Investment incomeLn 3$34K
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
CashLn 1$49K
Cash and savings togetherLn 1–2$49K
Land, buildings, equipmentLn 10c$7.2M
Other assetsLn 15$974K
Total assetsLn 16$8.7M
LiabilitiesLn 26$10.7M
Net assetsLn 32−$2.0M
OperationsPt I, VI
EmployeesI 552
VolunteersI 67
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$48K$49K
Land, buildings, equipmentLn 10c$7.6M$7.2M
Total assetsLn 16$9.0M$8.7M
LiabilitiesLn 26$11.0M$10.7M
Net assetsLn 32−$2.1M−$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$354K$354K
Other salaries and wagesLn 7$1.7M$1.5M$197K
Pension plan contributionsLn 8$61K$52K$8K
Other employee benefitsLn 9$173K$153K$20K
Payroll taxesLn 10$152K$137K$15K
Management feesLn 11a$80K$80K
Legal feesLn 11b$80K$80K
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$1.4M$1.4M$17K$0
Office expensesLn 13$400K$311K$89K
Information technologyLn 14$26K$26K
OccupancyLn 16$471K$471K
Conferences, conventions and meetingsLn 19$40$40
InterestLn 20$357K$357K
Depreciation, depletion and amortizationLn 22$655K$641K$14K
Other expenses (24a–d)Ln 24$65K$65K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$6.0M$5.4M$617K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $6.0M$6.0M$34K−$2.0M 990 PDF
FY2023 $5.9M$5.8M$26K−$2.1M 990 PDF
FY2022 $5.9M$5.9M$0−$2.1M 990 PDF
FY2021 $5.9M$5.9M$0−$2.1M 990 PDF
FY2020 $6.6M$6.6M$0−$2.1M 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 FY2024 990 (6 parts)
Part I · Summary $6,023,121 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,546,113$1,500,706
I-9 Program service revenuePrior year $4,287,393$4,488,792
I-10 Investment incomePrior year $25,652$33,623
I-11 Other revenue$0
I-12 Total revenuePrior year $5,859,158$6,023,121
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,449,098$2,406,218
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,384,407$3,583,284
I-18 Total expensesPrior year $5,833,505$5,989,502
I-19 Revenue less expensesPrior year $25,653$33,619
Part VI · Governance 6 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
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 $6,023,121 across 7 lines filed
VIII-1d Related organizations$1,227,871
VIII-1e Government grants$231,546
VIII-1f All other contributions, gifts and grants$41,289
VIII-1h Total contributions, gifts and grants$1,500,706
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,488,792$4,488,792
VIII-3 Investment incomeExcluded from tax $33,623$33,623
VIII-12 Total revenueRelated to mission $4,488,792 · Unrelated business $0 · Excluded from tax $33,623$6,023,121
Part IX · Statement of functional expenses $5,989,502 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $353,729$353,729
IX-7 Other salaries and wagesPrograms $1,469,697 · Management $196,863$1,666,560
IX-8 Pension plan contributionsPrograms $52,475 · Management $8,256$60,731
IX-9 Other employee benefitsPrograms $153,102 · Management $20,325$173,427
IX-10 Payroll taxesPrograms $136,594 · Management $15,177$151,771
IX-11a Management feesManagement $80,000$80,000
IX-11b Legal feesManagement $79,558$79,558
IX-11c Accounting feesManagement $5,076$5,076
IX-11g Other fees for servicesPrograms $1,427,004 · Management $17,172 · Fundraising $0$1,444,176
IX-13 Office expensesPrograms $310,532 · Management $88,999$399,531
IX-14 Information technologyManagement $25,911$25,911
IX-16 OccupancyPrograms $470,994$470,994
IX-19 Conferences, conventions and meetingsManagement $40$40
IX-20 InterestPrograms $357,362$357,362
IX-22 Depreciation, depletion and amortizationPrograms $641,039 · Management $14,420$655,459
IX-24 Other expenses (24a–d)Management $65,177$65,177
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $5,372,528 · Management $616,974 · Fundraising $0$5,989,502
Part X · Balance sheet $8,685,113 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $48,032$49,252
X-3 Pledges and grants receivableStart of year $163,132$98,314
X-4 Accounts receivableStart of year $248,582$340,745
X-9 Prepaid expenses and deferred chargesStart of year $5,795$4,636
X-10c Land, buildings and equipment, netStart of year $7,639,539$7,218,315
X-15 Other assetsStart of year $854,795$973,851
X-16 Total assetsStart of year $8,959,875$8,685,113
X-17 Accounts payable and accrued expensesStart of year $532,508$517,406
X-19 Deferred revenueStart of year $23,020$61,157
X-20 Tax-exempt bond liabilitiesStart of year $5,917,014$5,585,931
X-25 Other liabilitiesStart of year $0$22,067
X-26 Total liabilitiesStart of year $11,030,542$10,722,161
X-27 Net assets without donor restrictionsStart of year −$2,070,667−$2,037,048
X-32 Total net assets or fund balancesStart of year −$2,070,667−$2,037,048
X-33 Total liabilities and net assetsStart of year $8,959,875$8,685,113
Part XI · Reconciliation of net assets −$2,037,048 net assets at year end
XI-1 Total revenue$6,023,121
XI-2 Total expenses$5,989,502
XI-3 Revenue less expenses$33,619
XI-4 Net assets at start of year−$2,070,667
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,037,048

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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