Soundview Senior Housing Development Fund Company Inc
- Assets
- $11.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- St Albans, NY
- Founding
- 12/2003
- Data as of
- 12/2021
- EIN
- 30-0162353
Organization Overview
Soundview Senior Housing Development Fund Company Inc is located in St Albans, NY. The organization was established in 2003. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soundview Senior Housing Development Fund Company Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Soundview Senior Housing Development Fund Company Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.3% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 7.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A 72 UNIT SENIOR HOUSING FACILITY FOR THE ELDERLY AND HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPORSORED BY THE NORTHEASTERN CONFERENCE CORPORATION OF SEVENTH-DAY ADVENTISTS (THE "SPONSOR"), SOUNDVIEW SENIOR HDFC (THE "ENTITY") WAS ORGANIZED IN 2002 FOR THE PURPOSE OF DEVELOPING AND OPERATING A SENIOR HOUSING AND RELATED FACILITIES FOR THE ELDERLY AND HANDICAPPED. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 202 AND CONSISTS OF 72 UNITS ELIGIBLE FOR HUD SECTION 8 RENTAL ASSISTANCE. SUCH ENTITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trevor Mclean President | OfficerTrustee | 6 | $0 |
Janet Rivera Treasurer | OfficerTrustee | 1 | $0 |
Sharon Mohammed Secretary | OfficerTrustee | 1 | $0 |
Ruel Johnson Director | Trustee | 1 | $0 |
Burnell Hobson Director | Trustee | 1 | $0 |
Almoa F Martin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aargo Services Inc Security Services | 12/30/21 | $178,814 |
Tuc Management Inc Management Services | 12/30/21 | $125,797 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,466,525 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,466,525 |
| Total Program Service Revenue | $259,498 |
| Investment income | $326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,726,903 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $120,035 |
| Fees for services: Legal | $1,304 |
| Fees for services: Accounting | $18,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,939 |
| Advertising and promotion | $0 |
| Office expenses | $28,175 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $606,843 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $323,418 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,580,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,233 |
| Savings and temporary cash investments | $1,350,883 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,401 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,012 |
| Net Land, buildings, and equipment | $9,672,594 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,441 |
| Total assets | $11,135,564 |
| Accounts payable and accrued expenses | $337,968 |
| Grants payable | $0 |
| Deferred revenue | $4,533 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $30,612 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,522,355 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,271 |
| Total liabilities | $12,899,739 |
| Net assets without donor restrictions | -$1,764,175 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,135,564 |
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