2024-11-12T21:54:05-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 133022900 WOODYSUN HOUSING DEVELOPMENT FUND CORPORATION WOOD 2122439090 44-20 64TH STREET SUNNYSIDE NY 11377 LESLIE HEREDIA PRESIDENT 2122439090 2024-11-12 1 1 TRACY CAI P01959755 9143818900 2024-11-12 2023 2024-10-15 13:58:12Z LESLIE HEREDIA 44-20 64TH STREET SUNNYSIDE NY 11377 1659761 0 X N/A X 1979 NY TO DEVELOP AND OPERATE A HOUSING PROJECT FOR ELDERLY PERSONS OF LOW INCOME. 6 6 3 6 0 0 1321547 1398332 253840 258011 562 1918 1500 1500 1577449 1659761 0 0 0 0 245083 261128 0 0 0 1195907 1244581 1440990 1505709 136459 154052 3018896 2881997 4723678 4432727 -1704782 -1550730 TO DEVELOP AND OPERATE A HOUSING PROJECT FOR ELDERLY PERSONS OF LOW INCOME. 0 0 1197902 0 258011 WOODYSUN HOUSING DEVELOPMENT FUND CORPORATION (THE "COMPANY"), A NOT FOR PROFIT ORGANIZATION, WAS ORGANIZED IN 1979 FOR THE PURPOSE OF DEVELOPING AND OPERATING A 78-UNIT RESIDENTIAL APARTMENT BUILDING COMPLEX IN WOODSIDE QUEENS, NEW YORK (THE "PROJECT") FOR ELDERLY, LOW-INCOME PERSONS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. 1197902 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 NY X X MARGARET PAGAN 6463888265 44-20 64TH STREET SUNNYSIDE NY 11377 X LESLIE HEREDIA PRESIDENT 2.00 X X 0 0 0 GERALD LEDERMAN VICE PRESIDENT 2.00 X X 0 0 0 DAVID ESPINOSA TREASURER 2.00 X X 0 0 0 JACQUELINE AMAYA SECRETARY 2.00 X X 0 0 0 WILLIAM JOURDAIN DIRECTOR 2.00 X 0 0 0 JOANNE SMITH DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 WATCH GUARD 247 LLC 71-16 MYRTLE AVENUE GLENDALE NY 11385 SECURITY SERVICES 218467 1 1398332 1398332 RENTAL INCOME 531110 258011 258011 258011 1918 1918 LAUNDRY INCOME 531110 1500 1500 1500 1659761 258011 0 3418 X 167257 56722 110535 16299 5527 10772 56225 19069 37156 21347 7239 14108 58258 58258 24100 24100 276512 263578 12934 15838 15838 3634 3634 546669 526197 20472 129955 129955 46474 46474 REPAIRS & MAINTENANCE 131923 131923 OTHER SUPPLIES 4916 4916 UNIFORMS 2312 2312 GARBAGE AND TRASH REMOV 2080 2080 1910 1910 1505709 1197902 307807 0 75704 32295 50051 51575 119761 52348 6842 22372 8215507 5894389 2383107 2321118 383431 402289 3018896 2881997 243052 81317 14453 15379 17873 20472 4448300 4315559 4723678 4432727 X -1704782 -1550730 -1704782 -1550730 3018896 2881997 154052 0 X X 0 1 X 0 1 1 X 1229941 1181700 1346648 1321547 1398332 6478168 221986 230335 234150 253840 258011 1198322 1451927 1412035 1580798 1575387 1656343 7676490 0 0 0 7676490 1126 233 59 562 1918 3898 1126 233 59 562 1918 3898 3608 1650 1500 1500 1500 9758 1456661 1413918 1582357 1577449 1659761 7690146 0.99820 0.99810 0.00050 0.00040 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY - 2019 AMOUNT: $ 3,608. 2020 AMOUNT: $ 1,650. 2021 AMOUNT: $ 1,500. 2022 AMOUNT: $ 1,500. 2023 AMOUNT: $ 1,500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 312000 312000 7816141 5807023 2009118 45105 45105 0 42261 42261 0 2321118 ESCROW DEPOSITS 189265 REPLACEMENT RESERVE 172862 TENANT DEPOSITS HELD IN TRUST 20275 RESIDUAL RECEIPTS RESERVES 19887 402289 X 1659761 0 1659761 0 1659761 1505709 0 1505709 0 1505709 PART IV, LINE 2B: FUNDS FOR THE PERSONAL USE OF RESIDENTS AND FUNDS RECEIVED AS SECURITY DEPOSITS FOR SERVICES ARE HELD IN TRUST FOR THEM BY THE COMPANY. THESE FUNDS ARE SEGREGATED IN A SEPARATE INTEREST-BEARING ACCOUNT FOR THE TENANTS' BENEFIT AND ARE NOT AVAILABLE FOR OTHER USES. PART X, LINE 2: THE COMPANY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2020. FORM 990, PART VI, SECTION A, LINE 3 THE COMPANY PURCHASES PROPERTY MANAGEMENT SERVICES FROM AN UNRELATED MANAGEMENT SERVICES CORPORATION, PHIPPS HOUSES SERVICES, INC. THESE FEES ARE CHARGEABLE AT A RATE OF 3.7473% OF MONTHLY GROSS TENANT RENT COLLECTIONS AND 4.5% OF LAUNDRY INCOME COLLECTIONS. PROPERTY MANAGEMENT FEES TOTALING $58,258 IN 2023. NO OFFICERS OR DIRECTORS IN PART VII WERE COMPENSATED BY THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION ARE WOODSIDE ON THE MOVE, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION ("WOODSIDE") AND SUNNYSIDE COMMUNITY SERVICES, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION ("SUNNYSIDE"). FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S BOARD CONSISTS OF SIX DIRECTORS (THE "HDFC BOARD") WHO ARE ELECTED BY THE MEMBERS. THE MEMBERS ELECT THREE DIRECTORS DESIGNATED BY WOODSIDE (THE "WOODSIDE HDFC DIRECTORS") AND THREE DIRECTORS DESIGNATED BY SUNNYSIDE (THE "SUNNYSIDE HDFC DIRECTORS"). FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING DECISIONS OF THE ORGANIZATION ARE RESERVED TO THE ORGANIZATION'S MEMBERS: - THE RESIGNATION OF ANY OFFICERS OR DIRECTORS, EXCEPT AT THE RESIGNATION DATE. - SALE OR OTHER TRANSFER OF THE PROJECT OR ANY MATERIAL PART THEREOF. - LIQUIDATING EITHER THE PARTNERSHIP AND/OR THE CORPORATION OR CAUSING THE PARTNERSHIP AND/OR CORPORATION TO FILE FOR BANKRUPTCY. - THE REFINANCING OF THE PROJECT. - THE TRANSFER OF ANY INTEREST EXCEPT IN ACCORDANCE WITH THE TERMS HEREOF. - THE AMENDMENT OF THE BY-LAWS OR CERTIFICATE OF INCORPORATION OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE A COMMITTEE THAT ACTS ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD FOR APPROVAL. ONCE THE BOARD HAS APPROVED THE RETURN IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 56,664. MANAGEMENT AND GENERAL EXPENSES 6,890. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 63,554. CONSULTANTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,594. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,594. PAYROLL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,450. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,450. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 206,914. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 206,914. FORM 990, PART XII, LINE 2C: THE FULL BOARD ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.