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Bremond King Davis

New York, NYUnknown exempt organizationEIN 47-3791580

The organization was established for the purpose of developing, on a non-profit basis, a housing project for persons of low income in new york city where no adequate housing exists for such persons.

92¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $722K a year · 78% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.0M
129% of total assets
Concern: liabilities are 129% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$958K
+6% vs prior year
Spent
$1.7M
To programs
92%
Net assets
−$1.4M
By yearFY2021–FY2022
Revenue
$958K
FY2022▲ +6%
Revenue by fiscal year
FY2021$902K
FY2022$958K
Expenses
$1.7M
FY2022▲ +6%
Expenses by fiscal year
FY2021$1.6M
FY2022$1.7M
Net assets
−$1.4M
FY2022▼ -121%
Net assets by fiscal year
FY2021−$615K
FY2022−$1.4M

From the FY2022 Form 990 · see the original

Give Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Last filed FY2022 — 4 yrs ago
Legal name (IRS)Hdr · item CBremond King Davis
EINHdr · item D47-3791580
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2022 · Form 990
Principal addressHdr · item CNew York, NY
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.aafe.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$1.6M
Management & general8%$129K
Total functional expensesLn 25$1.7M

Finances

Money in and out, what it owns and owes

Surplus or deficit
-78%
as % of revenue, this year>-0.01% vs prior filing year
Program spending
92%
of expenses reach programs▲ +2% vs prior filing year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$4.6M
FY2022▼ -14%
Total assets by fiscal year
FY2021$5.4M
FY2022$4.6M
Total liabilities
$6.0M
FY2022+0.08%
Total liabilities by fiscal year
FY2021$6.0M
FY2022$6.0M
Revenue less expensesPt I · Ln 19−$744K
Total assetsPt X · Ln 16$4.6M
Spent on programsPt IX · col B92%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$219K
Total assetsLn 16$4.6M
Total liabilitiesLn 26$6.0M
Total net assetsLn 32−$1.4M
Months of cash on handcomputed1.5

Statement of Revenue

Part VIII
Program service revenue$947K · 99%
Investment income$10K · 1%
Program service revenue99%$947K
Investment income1%$10K
Other revenue$806
Total revenueLn 12$958K

Money in detail

Form 990 · FY2022 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $219K · Operating expenses/yr $1.7M
1.5 months
Where the money goes
Program services
Program services $1.6M · Total expenses $1.7M
92%
Management & General
Management & general $129K · Total expenses $1.7M
8%
Fundraising
Fundraising $0 · Total expenses $1.7M
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $958K
0%
Government reliance
Government grants — · Total revenue $958K
—
Earned-income share
Program service revenue $947K · Total revenue $958K
99%
Investment reliance
Investment income $10K · Total revenue $958K
+1%
Program self-sufficiency
Program service revenue $947K · Total expenses $1.7M
56%
Growth & trend
Revenue change from last year
This year $958K · Prior year $902K
+6%
Net assets change over the year
End of year −$1.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $958K · Expenses $1.7M
-78%
Debts compared to what it owns
Total liabilities — · Total assets $4.6M
—
Net assets compared to what it owns
Net assets −$1.4M · Total assets $4.6M
-29%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $4.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Hsueh Lam Yan · Reported title SECRETARY · Highest reported compensation $0 · Total expenses $1.7M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $151K · Total expenses $1.7M
9%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Spent on programs 92%——
Spent on management, % of spending 8%——
Revenue growth 6%——
Legal fees, % of spending 0.8%——
Accounting fees, % of spending 4%——

Straight from the Form 990 — descriptive, not an evaluation. A share is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Hsueh Lam Yan
Secretary
$0Pt VII · Sec A
Jennifer Sun
Co-Executive Director (outgoing)
$0Pt VII · Sec A
Nelson Chan
Treasurer
$0Pt VII · Sec A
Thomas Yu
Executive Director
$0Pt VII · Sec A
Joy Suzanne Granado
Chief Accounting Officer
$0Pt VII · Sec A
See Bremond King Davis executive salaries →

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Governance & Policies

Part VI
  • 3Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Builds affordable housing for low-income New Yorkers lacking adequate homes.

Provided by the organization

This section is blank until Bremond King Davis claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $1.6M of program spending, described in the organization's own filed words · FY2022.
01

Operates a low-income housing building.

$1.6Mprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2022 Latest Viewing $958K$1.7M+6% 990 PDF
FY2021 $902K$1.6M 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

Full filing: Form 990 for FY2022

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $958,111 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $947,367$947,367
VIII-3 Investment incomeExcluded from tax $9,938$9,938
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $806$806
VIII-12 Total revenueRelated to mission $948,173 · Unrelated business $0 · Excluded from tax $9,938$958,111
Part IX · Statement of functional expenses $1,702,268 across 14 lines filed
IX-7 Other salaries and wagesPrograms $111,554$111,554
IX-8 Pension plan contributionsPrograms $1,032$1,032
IX-9 Other employee benefitsPrograms $23,692$23,692
IX-10 Payroll taxesPrograms $15,064$15,064
IX-11b Legal feesPrograms $13,928$13,928
IX-11c Accounting feesPrograms $73,191$73,191
IX-11g Other fees for servicesPrograms $20,650$20,650
IX-13 Office expensesPrograms $3,372$3,372
IX-16 OccupancyPrograms $267,983$267,983
IX-20 InterestPrograms $24,303$24,303
IX-22 Depreciation, depletion and amortizationPrograms $731,929$731,929
IX-23 InsurancePrograms $85,629$85,629
IX-24 Other expenses (24a–d)Programs $190,379 · Management $128,537$318,916
IX-24e All other expensesPrograms $11,025$11,025
IX-25 Total functional expensesPrograms $1,573,731 · Management $128,537 · Fundraising $0$1,702,268
Part X · Balance sheet $4,629,539 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $260,055$218,570
X-4 Accounts receivableStart of year $111,720$112,728
X-9 Prepaid expenses and deferred chargesStart of year $40,064$66,507
X-10c Land, buildings and equipment, netStart of year $3,785,385$3,051,908
X-15 Other assetsStart of year $1,171,842$1,179,826
X-16 Total assetsStart of year $5,369,066$4,629,539
X-17 Accounts payable and accrued expensesStart of year $96,533$77,365
X-25 Other liabilitiesStart of year $49,558$73,356
X-26 Total liabilitiesStart of year $5,983,731$5,988,361
X-27 Net assets without donor restrictionsStart of year −$368,799−$815,293
X-28 Net assets with donor restrictionsStart of year −$245,866−$543,529
X-32 Total net assets or fund balancesStart of year −$614,665−$1,358,822
X-33 Total liabilities and net assetsStart of year $5,369,066$4,629,539
Part XI · Reconciliation of net assets −$1,358,822 net assets at year end
XI-1 Total revenue$958,111
XI-2 Total expenses$1,702,268
XI-3 Revenue less expenses−$744,157
XI-4 Net assets at start of year−$614,665
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,358,822

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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