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Hsvs Property Foundation Ltd

Not tax-deductible

Brooklyn, NYMutual-benefit / member-servingSince 2017Human Services EIN 82-2726570Revenue $312K in FY2024

On file with the IRS330 Jay Street 29th Floor, 11201-2935 · Brooklyn, NYTax-exempt since Mar 2019

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To hold title to Property to st. Vincent's services, INC. D/b/a heartshare st. Vincent's services ("Hsvs"), in its efforts to provide and care for young boys and girls, adolescents, young adults, adults and families through the establishment, operation and maintenance of various types of programs, facilities, homes and residences which provide for the physical, mental, spiritual, intellectual and emotional welfare and well-being of said young boys and girls, adolescents, young adults, adults and families. Entire amount of net rental income, if any, is to be turned over to Hsvs, an organization with a tax-exempt status.

99¢ 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

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 3
filings with a surplus
Average deficit $78K a year · 22% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.4M
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
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
$312K
-6% vs prior year
Spent
$591K
To programs
99%
Net assets
$2.0M
By yearFY2021–FY2024
Revenue
$312K
FY2024▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2021$239K
FY2023$470K
FY2024$332K
FY2024$312K
Expenses
$591K
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2021$97K
FY2023$602K
FY2024$575K
FY2024$591K
Net assets
$2.0M
FY2024▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.0M
FY2023$2.5M
FY2024$2.3M
FY2024$2.0M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2019.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $588K Management & general 1% · $4K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Dawn W Valentine-Saffayeh
Secretary / President & CEO - Hshs, Hsvs, Hec, Hsw
$0Pt VII · Sec A
Justin Nardilla
Treasurer / CFO Thru 01/2025- Hshs, Hsvs, Hec, Hsw
$0Pt VII · Sec A
$0Pt VII · Sec A
Marc Simpson
Treasurer as of 04/2025
$0Pt VII · Sec A
Paul J Torre
Vice Chair
$0Pt VII · Sec A
Devin L Chapman
Senior VP of Finance / CFO as of 02/2025 - Hshs, Hsvs, Hec, Hsw
$0Pt VII · Sec A
See Hsvs Property Foundation Ltd 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

Owns and rents NYC buildings and land to support Catholic social services.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To hold title to buildings & land located in nyc, for the purpose of leasing and renting in furtherance of ST. Vincent's services' inc. Mission, a catholic social services agency.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $877K · 2021–2024
St Vincent's Services INCNY · FY2024$249,305
St Vincent's Services INCNY · FY2023$242,043
St Vincent's Services INCNY · FY2022$234,407
St Vincent's Services INCNY · FY2021$151,720

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$312K
Ln 12
Fees for servicesLn 2g$312K
Investment incomeLn 3$58
Money outPt IX
$591K
Ln 25
Programscol B$588K
Managementcol C$4K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$19K
Total assetsLn 16$5.4M
LiabilitiesLn 26$3.4M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$312K
Investment incomeLn 3$58
Total revenueLn 12$312K
Assets in detailPt X, end of year
CashLn 1$19K
Cash and savings togetherLn 1–2$19K
Land, buildings, equipmentLn 10c$5.0M
Other assetsLn 15$384K
Total assetsLn 16$5.4M
LiabilitiesLn 26$3.4M
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
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$35K$19K
Land, buildings, equipmentLn 10c$5.3M$5.0M
Total assetsLn 16$5.7M$5.4M
LiabilitiesLn 26$3.4M$3.4M
Net assetsLn 32$2.3M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$249K$249K
Management feesLn 11a$4K$0$4K$0
Other fees for servicesLn 11g$0$0$0$0
Office expensesLn 13$1K$1K$0$0
OccupancyLn 16$9K$9K$0$0
InterestLn 20$4K$4K$0$0
Depreciation, depletion and amortizationLn 22$318K$318K$0$0
Other expenses (24a–d)Ln 24$6K$6K$0$0
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$591K$588K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $332K$575K−$243K$2.3M 990 PDF
FY2023 $470K$602K−$132K$2.5M 990 PDF
FY2022 Not on file
FY2021 $239K$97K$142K$3.0M 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 FY2024 990 (6 parts)
Part I · Summary $311,834 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $331,896$311,776
I-10 Investment incomePrior year $0$58
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $331,896$311,834
I-13 Grants and similar amounts paidPrior year $242,043$249,305
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $332,596$341,968
I-18 Total expensesPrior year $574,639$591,273
I-19 Revenue less expensesPrior year −$242,743−$279,439
Part VI · Governance 3 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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 $311,834 across 4 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $311,776 · Unrelated business $0 · Excluded from tax $0$311,776
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $58$58
VIII-12 Total revenueRelated to mission $311,776 · Unrelated business $0 · Excluded from tax $58$311,834
Part IX · Statement of functional expenses $591,273 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $249,305$249,305
IX-11a Management feesPrograms $0 · Management $3,672 · Fundraising $0$3,672
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesPrograms $1,256 · Management $0 · Fundraising $0$1,256
IX-16 OccupancyPrograms $9,087 · Management $0 · Fundraising $0$9,087
IX-20 InterestPrograms $3,667 · Management $0 · Fundraising $0$3,667
IX-22 Depreciation, depletion and amortizationPrograms $318,405 · Management $0 · Fundraising $0$318,405
IX-24 Other expenses (24a–d)Programs $5,881 · Management $0 · Fundraising $0$5,881
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $587,601 · Management $3,672 · Fundraising $0$591,273
Part X · Balance sheet $5,381,695 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $35,218$19,300
X-10c Land, buildings and equipment, netStart of year $5,296,777$4,978,372
X-15 Other assetsStart of year $322,425$384,023
X-16 Total assetsStart of year $5,654,420$5,381,695
X-17 Accounts payable and accrued expensesStart of year $1,814$809
X-20 Tax-exempt bond liabilitiesStart of year $2,742,238$2,551,635
X-25 Other liabilitiesStart of year $646,118$844,440
X-26 Total liabilitiesStart of year $3,390,170$3,396,884
X-27 Net assets without donor restrictionsStart of year $2,264,250$1,984,811
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $2,264,250$1,984,811
X-33 Total liabilities and net assetsStart of year $5,654,420$5,381,695
Part XI · Reconciliation of net assets $1,984,811 net assets at year end
XI-1 Total revenue$311,834
XI-2 Total expenses$591,273
XI-3 Revenue less expenses−$279,439
XI-4 Net assets at start of year$2,264,250
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,984,811

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

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