2024-11-15T20:11:08-06:00 2024-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 883337473 PRELUDE SI CORPORATION PREL 6464720262 12 WEST 37TH STREET NY NY 10018 NICOLE BRANCA EXECUTIVE DIRECTOR 6464720262 2024-11-15 1 1 JOSEPH CONNOLLY P01959750 9143818900 2024-11-14 2023 2024-10-15 13:58:12Z NICOLE BRANCA 12 WEST 37TH STREET NY NY 10018 250254 0 X WWW.NEWDESTINYHOUSING.ORG X 2022 NY TO DEVELOP AND OPERATE HOUSING PROJECTS FOR LOW INCOME PERSONS. 2 2 0 3 0 0 0 0 103520 248862 0 1392 0 0 103520 250254 0 0 0 0 0 0 0 0 0 119285 302820 119285 302820 -15765 -52566 627975 625575 4040 54206 623935 571369 TO DEVELOP AND OPERATE HOUSING PROJECTS FOR LOW INCOME PERSONS AND TO PROVIDE AFFORDABLE AND CLEAN HOUSING FACILITIES. 0 0 70404 0 248862 PRELUDE OWNS AN EMERGENCY SHELTER FACILITY CONSISTING OF 35 BEDS, WHICH IS OPERATING UNDER A LEASE WITH ANOTHER NON-FOR-PROFIT ORGANIZATION 70404 1 0 0 0 0 0 0 0 0 0 1 0 0 1 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 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 2 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 NY X X NICOLE BRANCA 6464720262 12 WEST 37TH STREET NY NY 10018 NICOLE BRANCA EXECUTIVE DIRECTOR/TREASURER 0.25 35.50 X X 0 178448 29726 PAULA M SARRO CHAIRPERSON 0.25 1.00 X X 0 0 0 ELAINE CALOS SECRETARY 0.25 1.00 X X 0 0 0 JOSEPH KAZINDUKA CFO 0.25 35.50 X 0 135955 18375 0 314403 48101 0 0 1 0 0 RENTAL INCOME 531110 248862 248862 248862 1392 1392 250254 248862 0 1392 200000 200000 5000 5000 2500 2500 1738 1738 13575 13575 56829 56829 MISCELLANEOUS EXPENSES 23178 23178 302820 70404 232416 0 0 91395 112448 0 536745 78047 515527 458698 0 75482 627975 625575 4040 10240 0 43966 4040 54206 X 623935 571369 623935 571369 627975 625575 -52566 0 X 0 1 X 0 1 1 X 243980 103520 248862 596362 243980 103520 248862 596362 0 0 0 596362 1392 1392 1392 1392 1050 1050 245030 103520 250254 598804 X SCHEDULE A, PART III, SECTION B, LINE 12 (2021) OTHER INCOME - MISCELLANEOUS INCOME $1,050 1 1 X 175000 175000 214036 59583 154453 147709 18464 129245 458698 REPLACEMENT RESERVES 75482 75482 DUE TO RELATED PARTIES 43966 43966 X 15512476 18547176 18547176 -3034700 3284954 3284954 250254 20371551 21779229 21779229 -1407678 1710498 1710498 302820 PART IV, LINE 2B: ESCROW AND RESERVES ARE ACCOUNTS THAT ARE REQUIRED TO BE MAINTAINED BY THE COMPANY IN ACCORDANCE WITH REGULATORY OR DEBT AGREEMENTS. PART X, LINE 2: NEW DESTINY AND ITS NOT-FOR-PROFIT AFFILIATES ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OR 501(C)(4) OF THE IRC, AS WELL AS STATE AND LOCAL INCOME TAXES. THE COMPANIES RECOGNIZE THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANIES HAVE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION AND/OR DISCLOSURE. THE COMPANIES ARE NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTED TO RELATED ENTITY PER CONSOLIDATED FINANCIAL STATEMENTS 18,547,176. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS ON CONSOLIDATED FINANCIAL STATEMENTS 3,284,954. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTED TO RELATED ENTITY PER CONSOLIDATED FINANCIAL STATEMENTS 21,779,229. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS ON CONSOLIDATED FINANCIAL STATEMENTS 1,710,498. 0 0 0 0 0 0 0 0 0 NICOLE BRANCA EXECUTIVE DIRECTOR/TREASURER 0 177873 0 0 0 575 0 7943 0 21783 0 208174 0 0 JOSEPH KAZINDUKA CFO 0 134198 0 0 0 1757 0 6825 0 11550 0 154330 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS OF PRELUDE SI CORPORATION REVIEWS AND APPROVES ALL EXECUTIVE COMPENSATION ARRANGEMENTS. WHEN HIRED, THE BOARD USED COMPARABLE MARKET DATA, INCLUDING FORM 990S FROM SIMILAR ORGANIZATIONS AND COMPENSATION SURVEYS TO DETERMINE THE EXECUTIVE DIRECTOR'S COMPENSATION. THE BOARD ONLY DETERMINES THE EXECUTIVE DIRECTOR'S SALARY AT THE TIME OF HIRE AND WILL REVIEW THE SALARY AFTER HIRE AS NEEDED. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS ENTERED INTO A PROPERTY MANAGEMENT AGREEMENT WITH A RELATED PARTY, NEW DESTINY HOUSING CORPORATION, WHICH PROVIDES FOR RENTAL MANAGEMENT, REPAIRS AND SUPERVISION. PLEASE REFER TO PART VII AND SCHEDULE J FOR INDIVIDUALS COMPENSATED BY THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT 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 B, LINE 12C PRELUDE SI CORPORATION AND ALL PERSONS EITHER ELECTED OR APPOINTED TO AN OFFICE (INCLUDES, BUT NOT LIMITED TO, ANY BOARD OFFICERS, DIRECTORS, AND COMMITTEE MEMBERS) SHALL CONSCIENTIOUSLY AVOID ANY SITUATIONS AND ACTIVITIES WHERE THEIR PERSONAL INTEREST COULD CONFLICT, OR APPEAR TO CONFLICT, WITH THE INTERESTS OF THE ORGANIZATION. A CONFLICT OF INTEREST IS ANY OPPORTUNITY FOR PERSONAL GAIN IN DEALING WITH OR ON BEHALF OF THE ORGANIZATION APART FROM NOMINAL REIMBURSEMENT OF EXPENSES ACCORDING TO ORGANIZATION'S POLICY. IN THE EVENT THAT ANY OFFICER, DIRECTOR OR COMMITTEE MEMBER PRELUDE SI CORPORATION SHALL HAVE ANY DIRECT OR INDIRECT INTEREST IN, OR RELATIONSHIP WITH, ANY INDIVIDUAL OR ORGANIZATION WHICH PROPOSES TO WORK WITH OR TRANSACT ANY BUSINESS WITH THE ORGANIZATION, SUCH PERSON SHALL GIVE OR NOTICE OF SUCH INTEREST OR RELATIONSHIP TO THE BOARD AND SHALL THEREAFTER REFRAIN FROM DISCUSSING OR VOTING ON THE PARTICULAR TRANSACTION IN WHICH SHE OR HE HAS AN INTEREST OR OTHERWISE ATTEMPTING TO EXERT ANY INFLUENCE ON THE ORGANIZATION TO AFFECT A DECISION WHETHER TO PARTICIPATE IN SUCH TRANSACTION. PRELUDE SI CORPORATION WILL DISCLOSE THE POLICY TO CANDIDATES FOR THE BOARD AND WILL OBTAIN RE-AFFIRMATION OF THE POLICY FROM EXISTING MEMBERS OF THE BOARD OR COMMITTEES ANNUALLY. FAILURE TO COMPLY WITH THE POLICY MAY BE GROUNDS FOR REMOVAL FROM THE BOARD AND/OR COMMITTEES. 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, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. 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