8th And C Housing Development Fund Corporation
- Assets
- $3.1m
- Revenue
- $351.4k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 45-4412903
Organization Overview
8th And C Housing Development Fund Corporation is located in New York, NY. The organization was established in 2019. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 8th And C Housing Development Fund Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2023, 8th And C Housing Development Fund Corporation generated $351.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $510.3k during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND OPERATE LOW INCOME HOUSING FOR RESIDENTS IN THE LOWER EAST SIDE NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES MODERATE AND LOW INCOME RENTAL HOUSING TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Herman Hewitt President | OfficerTrustee | $0 | |
Veronique Doumbe VP | OfficerTrustee | $0 | |
Mahbub Hassan Treasurer | OfficerTrustee | $0 | |
Bettina Kindermann Secretary | OfficerTrustee | $0 | |
Kil J Yi Member | Trustee | $0 | |
Thomas Chen Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $342,275 |
| Investment income | $9,134 |
| 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 | $351,409 |
| 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 | $39,446 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66 |
| Payroll taxes | $6,211 |
| Fees for services: Management | $25,207 |
| Fees for services: Legal | $3,170 |
| Fees for services: Accounting | $12,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,009 |
| Advertising and promotion | $0 |
| Office expenses | $3,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,748 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $130,493 |
| Insurance | $22,296 |
| All other expenses | $14,510 |
| Total functional expenses | $510,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $336,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $109,065 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,257 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,610 |
| Net Land, buildings, and equipment | $2,233,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,087 |
| Other assets | $383,831 |
| Total assets | $3,111,166 |
| Accounts payable and accrued expenses | $85,100 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,719,115 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,316 |
| Total liabilities | $3,831,531 |
| Net assets without donor restrictions | -$720,365 |
| 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 | $3,111,166 |