2024-11-15T11:00:59-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-01-01 275111161 BROADWAY HOUSING SUGAR HILL LESSEE INC BROA 2125682030 583 RIVERSIDE DRIVE NEW YORK NY 10031 DAVID NATHANSON CHIEF FINANCIAL OFFICER 2125682030 2024-11-15 1 0 SCOTT THOMPSETT P00741490 2125990100 2023 2024-10-15 13:58:12Z CHARLENE MELVILLE 583 RIVERSIDE DRIVE NEW YORK NY 10031 471944 0 X BROADWAYHOUSING.ORG X 2011 NY TO ASSIST IN THE DEVELOPMENT OF A MULTI-USE BUILDING FOR THE BENEFIT OF BROADWAY HOUSING. 3 1 0 0 0 0 0 0 0 0 0 0 437371 434900 437371 434900 0 0 0 0 0 0 0 0 0 325043 323100 325043 323100 112328 111800 810159 860395 22463286 22401722 -21653127 -21541327 X THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO ASSIST IN THE DEVELOPMENT OF THE SUGAR HILL PROJECT, A MULTI-USE BUILDING CONSISTING OF 124 AFFORDABLE STUDIO, ONE, TWO AND THREE BEDROOM APARTMENTS, AN EARLY CHILDHOOD CENTER KNOWN AS THE SUGAR HILL MUSEUM PRE-SCHOOL, RENTAL SPACE, UNDERGROUND PARKING GARAGE AND THE SUGAR HILL CHILDREN'S MUSEUM OF ART AND STORYTELLING. 0 0 0 0 0 THE ORGANIZATION'S PRIMARY PROGRAM SERVICE ACTIVITY IS TO FACILITATE THE FINANCING FOR THE SUGAR HILL PROJECT, A FACILITY THAT PAIRS PERMANENT HOUSING WITH EARLY EDUCATION AND EDUCATIONAL ADVOCACY, AND ACCESS TO THE ARTS. THE ORGANIZATION FACILITATES THE FINANCING VIA SUGAR HILL LEVERAGE, LLC, A NEW YORK LIMITED LIABILITY COMPANY FORMED EXPRESSLY FOR THE PURPOSES OF ADVANCING THE CONSTRUCTION AND DEVELOPMENT OF THE SUGAR HILL PROJECT. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 3 1 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X DAVID NATHANSON CFO 2125682030 583 RIVERSIDE DRIVE NEW YORK NY 10031 ELLEN BAXTER CHIEF EXECUTIVE OFFICER (THRU 04/23) 2.00 38.00 X X 0 149629 36008 DAVID NATHANSON TREASURER/SECRETARY 2.00 38.00 X X 0 207312 37192 CHARLENE MELVILLE CHIEF EXECUTIVE OFFICER (AS OF 04/23) 2.00 38.00 X X 0 251162 30648 ALAN WEIL VICE PRESIDENT 2.00 12.00 X X 0 0 0 TAYLOR MORLEY CHIEF OPERATING OFFICER (THRU 10/23) 2.00 38.00 X 0 150723 20872 0 758826 124720 0 0 1 0 0 464945 37044 427901 427901 427901 OTHER INCOME 900099 6999 6999 6999 434900 0 0 434900 23001 249528 PROPERTY TAXES 50571 323100 45595 95826 29 34 764535 764535 764535 810159 860395 951430 640263 18884926 18884926 2626930 2876533 22463286 22401722 X -21653127 -21541327 -21653127 -21541327 810159 860395 111800 0 X X 0 1 X 1 1 1 764535 764535 764535 MORTGAGE INTEREST PAYABLE 2848408 DEFERRED RENT 28125 2876533 X PART X, LINE 2: ASC 740 FOOTNOTE BROADWAY HOUSING SUGAR HILL LESSEE, INC. DOES NOT RECEIVE ITS OWN STANDALONE AUDITED FINANCIAL STATEMENTS; ITS OPERATIONS ARE INCLUDED WITHIN THE FINANCIAL STATEMENTS OF ITS PARENT ORGANIZATION: BROADWAY HOUSING COMMUNITIES INC. THE FIN-48 FOOTNOTE REPRODUCED BELOW IS FROM THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. BHC (AND ITS CONSOLIDATED SUBSIDIARIES) FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. BHC (AND EACH OF ITS SUBSIDIARIES) HAVE BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501 (C)(3) AND 501 (C)(4) OF THE INTERNAL REVENUE CODE. BHC HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF EACH ENTITY'S TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH THEY HAVE NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. BHC HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IN ADDITION, BHC HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. 0 0 0 CHARLENE MELVILLE CHIEF EXECUTIVE OFFICER (AS OF 04/23 0 251162 0 0 0 0 0 11534 0 19114 0 281810 0 0 DAVID NATHANSON TREASURER/SECRETARY 0 207312 0 0 0 0 0 3885 0 33307 0 244504 0 0 ELLEN BAXTER CHIEF EXECUTIVE OFFICER (THRU 04/23) 0 149629 0 0 0 0 0 6835 0 29173 0 185637 0 0 TAYLOR MORLEY CHIEF OPERATING OFFICER (THRU 10/23) 0 150723 0 0 0 0 0 7142 0 13730 0 171595 0 0 FORM 990, PART VI, SECTION A, LINE 6 GOVERNING BODY AND MANAGEMENT PURSUANT TO THE ORGANIZATION'S BYLAWS, ITS SOLE CORPORATE MEMBER IS ITS PARENT, BROADWAY HOUSING COMMUNITIES, INC. FORM 990, PART VI, SECTION A, LINE 7A SECTION A, GOVERNING BODY AND MANAGEMENT THE ORGANIZATION'S BYLAWS RESERVE THE POWER OF APPOINTING (AND/OR REMOVING) THE ORGANIZATION'S BOARD MEMBERS TO THE SOLE CORPORATE MEMBER, BROADWAY HOUSING COMMUNITIES, INC. FORM 990, PART VI, SECTION A, LINE 7B SECTION A, GOVERNING BODY AND MANAGEMENT THE ORGANIZATION'S BYLAWS RESERVE CERTAIN POWERS TO THE MEMBER, SUCH AS THE POWER TO ESTABLISH THE SIZE OF THE BOARD AND THE COMPOSITION OF ITS OFFICER CLASS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 WAS CIRCULATED TO THE FULL BOARD OF TRUSTEES IN EITHER PAPER OR ELECTRONIC FORM FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER WAS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION OPERATES UNDER THE CONFLICT OF INTEREST POLICY OF ITS PARENT ORGANIZATION, BROADWAY HOUSING COMMUNITIES, INC. EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE OF THE ORGANIZATION IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE ORGANIZATION. THE ORGANIZATION MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, POLICIES, LINES 13 AND 14: BROADWAY HOUSING SUGAR HILL LESSEE INC. OPERATES UNDER THE WHISTLEBLOWER AND DOCUMENT RETENTION POLICY OF ITS PARENT ORGANIZATION, BROADWAY HOUSING COMMUNITIES INC. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED ON THE FORM 990, PART VII; ALL COMPENSATION IS PAID BY A RELATED ORGANIZATION, BROADWAY HOUSING COMMUNITIES, INC. THE PROCEDURES EMPLOYED TO DETERMINE THE COMPENSATION OF THESE INDIVIDUALS ARE DISCLOSED ON THAT ORGANIZATION'S FORM 990. FORM 990, PART VI, SECTION C, LINE 19 BROADWAY HOUSING SUGAR HILL LESSEE INC. MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS; IT IS, LIKEWISE, PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC AT MANAGEMENT'S DISCRETION. FORM 990, PART XII: THE ORGANIZATION DID NOT RECEIVE A FEDERAL AWARD REQUIRING IT TO UNDERGO A FEDERAL AUDIT; HOWEVER, THE ORGANIZATION'S ACTIVITIES ARE CONSOLIDATED WITHIN THE OMB CIRCULAR A-133 RECEIVED BY ITS PARENT ORGANIZATION, BROADWAY HOUSING COMMUNITIES, INC. BROADWAY HOUSING COMMUNITIES INC 583 RIVERSIDE DRIVE NEW YORK NY 10031 133212867 HOUSING NY 501(C)(3) 7 N/A 0 BROADWAY HOUSING DEVELOPMENT FUND CO 583 RIVERSIDE DRIVE NEW YORK NY 10031 222917994 LOW INCOME HOUSING NY 501(C)(3) 10 BHC 0 BROADWAY RIO HOUSING DEVELOPMENT FUND CO 583 RIVERSIDE DRIVE NEW YORK NY 10031 452155957 LOW INCOME HOUSING NY 501(C)(4) BHC 0 BROADWAY SUGAR HILL HOUSING DEV FUND CO 583 RIVERSIDE DRIVE NEW YORK NY 10031 451336601 DEVELOPMENT NY 501(C)(4) BHC 0 SUGAR HILL NEW MARKET TAX CREDIT INC 583 RIVERSIDE DRIVE NEW YORK NY 10031 275111306 DEVELOPMENT NY 501(C)(4) BHC 0 BROADWAY HOUSING COMMUNITIES FOUNDATION 583 RIVERSIDE DRIVE NEW YORK NY 10031 460730038 SUPPORT ORG DE 501(C)(3) 12A BHC 0 SUGAR HILL CHILDREN'S MUSEUM OF ART & ST 583 RIVERSIDE DRIVE NEW YORK NY 10031 465412811 MUSEUM NY 501(C)(3) 7 BHC 0 DOROTHY DAY HOUSING DEVELOPMENT FUND COMPANY INC 583 RIVERSIDE DRIVE NEW YORK NY 10031 852402420 LOW INCOME HOUSING NY 501(C)(4) BHC 0 BROADWAY SUGAR HILL HOUSING LP 583 RIVERSIDE DRIVE NEW YORK NY 10031 275111590 LOW INCOME HOUSING NY N/A N/A 0 0 583 RIVERSIDE DRIVE LP 583 RIVERSIDE DRIVE NEW YORK NY 10031 522325077 LOW INCOME HOUSING NY N/A N/A 0 0 SUGAR HILL HOUSING INC 583 RIVERSIDE DRIVE NEW YORK NY 10031 275111474 REAL ESTATE NY N/A C 0 WEST 77TH STREET INC 129 FULTON STREET NEW YORK NY 10038 134186692 LOW INCOME HOUSING NY N/A C 0 583 RIVERSIDE DEVELOPMENT INC 10 FT WASHINGTON AVENUE NEW YORK NY 10032 522325076 RENTAL HOUSING NY BHDFC C 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0