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Nelson Luquer Housing Development Fund Corporation FY2020 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2014Housing EIN 46-4061174Revenue $438K in FY2020

On file with the IRS201 Columbia St, 11231-1466 · Brooklyn, NYTax-exempt since Nov 2014Publicly supported — 509(a)(2)

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The hdfc was organized to acquire, rehabilitate, maintain, and operate six low-income buildings with 44 units located in brooklyn, new york. The Housing units are operated for persons of low-income within the meaning of article xi of the private Housing finance law.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
0 of 6
filings with a surplus
Average deficit $116K a year · 27% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.6M
129% of total assets
Concern: liabilities are 129% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 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
$438K
Spent
$516K
To programs
84%
Net assets
−$815K
By yearFY2020–FY2025
Revenue
$438K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$438K
FY2021$435K
FY2022$459K
FY2023$435K
FY2024$407K
FY2025$401K
Expenses
$516K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$516K
FY2021$546K
FY2022$581K
FY2023$588K
FY2024$487K
FY2025$553K
Net assets
−$815K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$815K
FY2021−$925K
FY2022−$1.0M
FY2023−$1.2M
FY2024−$1.3M
FY2025−$1.3M

From the FY2020 Form 990 (year ending June 2020) · see the original

990 PDF Claim
You’re viewing the FY2020 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 Nov 2014.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $436K Management & general 16% · $80K

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 (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Benjamin M Levine
Vice President
$0Pt VII · Sec A
Victor J Papa
Treasurer
$0Pt VII · Sec A
Vilma Heramia
Executive Director
$0Pt VII · Sec A
See Nelson Luquer Housing Development Fund Corporation 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 15aYes

Programs and updates

Acquires and rehabilitates low-income housing, providing affordable rentals.

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1 program · $436K · in their own filed words · FY2019
01

On september 29, 2014, the six buildings, with 44 units were transfered to nelson luquer housing development fund corporation for the continuing purpose of rehabilitating and operating the rental units for eligible low-income occupants. The rehabilitation and weatherization project was completed in 2015.

$436Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$438K
Ln 12
Fees for servicesLn 2g$393K
Other incomeLn 4–11$44K
Money outPt IX
$516K
Ln 25
Programscol B$436K
Managementcol C$80K
Owns and owesPt X
−$815K
net assets · Ln 32
Cash and savingsLn 1–2$50K
Total assetsLn 16$2.8M
LiabilitiesLn 26$3.6M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$393K
Other incomeLn 4–11$44K
Total revenueLn 12$438K
Assets in detailPt X, end of year
CashLn 1$50K
Cash and savings togetherLn 1–2$50K
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15$635K
Total assetsLn 16$2.8M
LiabilitiesLn 26$3.6M
Net assetsLn 32−$815K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
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 FY20End FY20
Cash and savingsLn 1–2$20K$50K
Land, buildings, equipmentLn 10c$2.0M$2.0M
Total assetsLn 16$2.8M$2.8M
LiabilitiesLn 26$3.5M$3.6M
Net assetsLn 32−$736K−$815K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$75K$66K$9K
Payroll taxesLn 10$7K$6K$870
Management feesLn 11a$60K$60K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$473$473
Office expensesLn 13$10K$10K
OccupancyLn 16$106K$106K
Depreciation, depletion and amortizationLn 22$111K$111K
InsuranceLn 23$35K$35K
Other expenses (24a–d)Ln 24$97K$96K$692
Total functional expensesLn 25$516K$436K$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $401K$553K−$152K−$1.3M 990 PDF
FY2024 $407K$487K−$80K−$1.3M 990 PDF
FY2023 $435K$588K−$153K−$1.2M 990 PDF
FY2022 $459K$581K−$122K−$1.0M 990 PDF
FY2021 $435K$546K−$110K−$925K 990 PDF
FY2020 Viewing $438K$516K−$79K−$815K 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 FY2020 990 (6 parts)
Part I · Summary $437,589 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $420,342$393,355
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $40$44,234
I-12 Total revenuePrior year $420,382$437,589
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 $84,078$81,787
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $483,717$434,691
I-18 Total expensesPrior year $567,795$516,478
I-19 Revenue less expensesPrior year −$147,413−$78,889
Part VI · Governance 3 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $437,589 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $393,355$393,355
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $44,234$44,234
VIII-12 Total revenueRelated to mission $437,589 · Unrelated business $0 · Excluded from tax $0$437,589
Part IX · Statement of functional expenses $516,478 across 11 lines filed
IX-7 Other salaries and wagesPrograms $65,509 · Management $9,245$74,754
IX-10 Payroll taxesPrograms $6,163 · Management $870$7,033
IX-11a Management feesManagement $59,660$59,660
IX-11b Legal feesPrograms $5,615$5,615
IX-11c Accounting feesManagement $9,500$9,500
IX-11g Other fees for servicesManagement $473$473
IX-13 Office expensesPrograms $9,820$9,820
IX-16 OccupancyPrograms $105,738$105,738
IX-22 Depreciation, depletion and amortizationPrograms $111,398$111,398
IX-23 InsurancePrograms $35,472$35,472
IX-24 Other expenses (24a–d)Programs $96,323 · Management $692$97,015
IX-25 Total functional expensesPrograms $436,038 · Management $80,440 · Fundraising $0$516,478
Part X · Balance sheet $2,767,482 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $19,819$49,954
X-4 Accounts receivableStart of year $46,167$57,875
X-9 Prepaid expenses and deferred chargesStart of year $9,183$1,595
X-10c Land, buildings and equipment, netStart of year $2,008,583$2,022,659
X-15 Other assetsStart of year $670,228$635,399
X-16 Total assetsStart of year $2,753,980$2,767,482
X-17 Accounts payable and accrued expensesStart of year $205,892$214,631
X-25 Other liabilitiesStart of year $25,048$26,771
X-26 Total liabilitiesStart of year $3,490,017$3,582,409
X-27 Net assets without donor restrictionsStart of year −$736,037−$814,927
X-32 Total net assets or fund balancesStart of year −$736,037−$814,927
X-33 Total liabilities and net assetsStart of year $2,753,980$2,767,482
Part XI · Reconciliation of net assets −$814,927 net assets at year end
XI-1 Total revenue$437,589
XI-2 Total expenses$516,478
XI-3 Revenue less expenses−$78,889
XI-4 Net assets at start of year−$736,037
XI-8 Prior period adjustments−$1
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$814,927

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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