2024-02-02T13:39:19-06:00 2022-03-31 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2021-04-01 161303858 IBERO-AMERICAN DEVELOPMENT CORPORATION IBER 5854676410 954 CLIFFORD AVENUE ROCHESTER NY 14621 EUGENIO MARLIN EXECUTIVE VICE PRESIDENT 5854676410 2024-02-02 1 EUGENIO MARLIN 999009999 DAVID A URBAN CPA P00630018 7166340700 2024-02-02 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z X EUGENIO MARLIN 954 CLIFFORD AVENUE ROCHESTER NY 14621 1416767 0 X WWW.IADCONLINE.ORG X 1986 NY THE IBERO-AMERICAN DEVELOPMENT CORPORATION WAS INCORPORATED TO ALLEVIATE THE HARDSHIP AND DISTRESS OF PERSONS AND FAMILIES OF LOW AND MODERATE INCOME RESIDING IN THE ROCHESTER, NY AREA BY PROVIDING DWELLING ACCOMMODATIONS AND SOCIAL AND RECREATIONAL FACILITIES AND TO MAINTAIN AND MANAGE REAL PROPERTY FOR VARIOUS NON-PROFIT ENTITIES. IN ADDITION, THE IBERO-AMERICAN DEVELOPMENT CORPORATION IDENTIFIES, REFURBISHES OR BUILDS, AND MARKETS HOMES WITH OTHER THIRD-PARTIES TO ELIGIBLE PURCHASES IN THE ROCHESTER, NY AREA. 5 5 0 5 0 0 561437 414861 1099548 993500 -510558 8406 5015 0 1155442 1416767 0 0 0 0 0 0 0 0 0 1389219 1123790 1389219 1123790 -233777 292977 4090619 4218457 1296515 1131376 2794104 3087081 X THE IBERO-AMERICAN DEVELOPMENT CORPORATION WAS INCORPORATED TO ALLEVIATE THE HARDSHIP AND DISTRESS OF PERSONS AND FAMILIES OF LOW AND MODERATE INCOME RESIDING IN THE ROCHESTER, NY AREA BY PROVIDING DWELLING ACCOMMODATIONS AND SOCIAL AND RECREATIONAL FACILITIES AND TO MAINTAIN AND MANAGE REAL PROPERTY FOR VARIOUS NON-PROFIT ENTITIES. IN ADDITION, THE IBERO-AMERICAN DEVELOPMENT CORPORATION IDENTIFIES, REFURBISHES OR BUILDS, AND MARKETS HOMES WITH OTHER THIRD-PARTIES TO ELIGIBLE PURCHASES IN THE ROCHESTER, NY AREA. 0 0 1044274 993500 DEVELOPMENT/RENTAL OF FACILITIES TO NONPROFIT ORGANIZATIONS, DEVELOPMENT AND REHABILITATION OF AFFORDABLE HOUSING FOR LOW-TO-MODERATE INCOME AND MANAGEMENT OF HUD PROPERTIES SERVING DEVELOPMENTALLY DISABLED AND ELDERLY INDIVIDUALS. 1044274 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 1 1 0 0 0 1 27 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X WILLIAM SONNEVILLE 5854676410 954 CLIFFORD AVENUE ROCHESTER NY 14621 JAMES SUTTON CHAIRMAN 0.50 2.00 X X 0 0 0 MARCOS A SANTIAGO SECRETARY 0.50 0.00 X X 0 0 0 DIANA HERNANDEZ TREASURER 0.50 2.00 X X 0 0 0 ARTHUR R HIRST BOARD MEMBER 0.50 2.00 X 0 0 0 JOSE ROSARIO BOARD MEMBER 0.50 2.00 X 0 0 0 ANGELICA PEREZ-DELGADO PRES & CEO IAAL 2.00 44.00 X 0 123253 18209 EUGENIO MARLIN EXECUTIVE VICE PRESIDENT 35.00 0.00 X 0 91215 20336 AMY SARGENT CFO IAAL 2.00 44.00 X 0 111379 7088 0 325847 45633 0 0 0 0 0 388115 26746 414861 RENTAL REVENUE 531190 589387 589387 DEVELOPERS FEES 230000 276045 276045 REAL ESTATE COMMISSION 531310 83946 83946 PROPERTY MANAGEMENT FE 531190 44122 44122 993500 8406 8406 1416767 993500 0 8406 X 533780 533780 191472 188288 3184 1031 1031 5056 5056 48866 48866 2438 2438 31691 31691 193014 193014 28150 28150 REPAIRS & MAINTENANCE 29857 29857 SUPPLIES 19512 19512 EQUIPMENT PURCHASES 18825 18825 TELEPHONE 12106 12106 7992 1776 6216 1123790 1044274 79516 0 53578 74969 785155 675924 372478 4828 600722 20945 271698 5616649 3893875 2169316 1722774 689147 867542 4090619 4218457 70138 78424 381936 309691 723700 621542 120741 121719 1296515 1131376 X 2669104 2962081 125000 125000 2794104 3087081 4090619 4218457 292977 0 X X 0 1 X 1 1 1 X 534637 508284 1158318 561437 414861 3177537 532960 509291 856071 1099548 993500 3991370 1067597 1017575 2014389 1660985 1408361 7168907 0 0 0 7168907 8406 8406 8406 8406 156376 59406 6591 5015 227388 1223973 1076981 2020980 1666000 1416767 7404701 0.96820 0.96610 0.00110 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 166460 166460 5257066 3706891 1550175 193123 186984 6139 1722774 CPC ESCROW 4801 DUE FROM AFFILIATES 857602 SECURITY DEPOSITS ACCOUNT 5139 867542 ACCRUED INTEREST 116580 SECURITY DEPOSITS 5139 121719 1416767 0 1416767 0 1416767 1123790 0 1123790 0 1123790 FORM 990 PAGE 1, SECTION B - AMENDED RETURN: FORM 990 FOR THE YEAR ENDED 3/31/2022 IS BEING AMENDED TO INCLUDE INFORMATION ON SCHEDULE R, PART VII REGARDING PUEBLO NUEVO BB CORP. AND PUEBLO NUEVO MM CORP., ENTITIES DIRECTLY CONTROLLED BY IBERO-AMERICAN DEVELOPMENT CORPORATION. PUEBLO NUEVO BB CORP. AND PUEBLO NUEVO MM CORP. HAVE ELECTED NOT TO BE TREATED AS TAX-EXEMPT ENTITIES PURSUANT TO IRC 168(H)(6)(F)(II). THIS INFORMATION WAS MISTAKENLY OMITTED FROM THE ORIGINAL RETURN. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PROVIDED TO AND REVIEWED BY THE BOARD MEMBERS PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS FULLY UNDERSTAND THE IMPORTANCE OF HAVING A CONFLICT OF INTEREST POLICY AND THE EFFECT OF ENFORCEMENT. THEREFORE, THE DIRECTORS WILL ASK QUESTIONS REGARDING THEIR OWN OR OTHER DIRECTORS' INVOLVEMENT IN ANY ACTIVITY THAT COULD BE A POTENTIAL CONFLICT OF INTEREST FOR THE COMPANY. BY HAVING TO FILL OUT A CONFLICT OF INTEREST FORM YEARLY, WE CAN ADDRESS ANY SUCH ISSUES EXPEDITIOUSLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS PAID BY THE PARENT COMPANY, IBERO-AMERICAN ACTION LEAGUE, INC., AND IS CHARGED TO IBERO-AMERICAN DEVELOPMENT CORPORATION VIA A MANAGEMENT FEE. FOR THE VICE PRESIDENT OF THE COMPANY, AND FOR ANY OTHER EMPLOYEE, COMPENSATION CHANGES INCLUDE A PERFORMANCE REVIEW. SUCH REVIEWS OCCUR YEARLY BEFORE ANY CHANGE IN COMPENSATION IS MADE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL & SUBCONTRACTING FEES: PROGRAM SERVICE EXPENSES 188,288. MANAGEMENT AND GENERAL EXPENSES 3,184. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 191,472. FORM 990 PART XII LINE 2C: THE ORGANIZATION HAS NOT CHANGED THEIR POLICIES OR PROCEDURES FROM THE PRIOR YEAR. IBERO-AMERICAN ACTION LEAGUE INC 817 EAST MAIN STREET ROCHESTER NY 146052722 160954745 TO FOSTER GROWTH AND DEVELOPMENT, PRIMARILY NY 501(C)(3) LINE 7 N/A 0 AMAPOLA HOUSING CORPORATION 817 EAST MAIN STREET ROCHESTER NY 146052722 161570117 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 BUENA VISTA HOUSING DEVELOPMENT FUND CORPORATION 817 EAST MAIN STREET ROCHESTER NY 146052722 141871723 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 EDISON HOUSING DEVELOPMENT FUND CORPORATION 817 EAST MAIN STREET ROCHESTER NY 146052722 161526969 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 IBERO HOUSING CORPORATION 817 EAST MAIN STREET ROCHESTER NY 146052722 161486700 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 EL CAMINO HOUSING DEVELOPMENT FUND COMPANY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270683522 NON-EQUITY MEMBER OF EL CAMINO HOUSING LLC NY 501(C)(3) LINE 7 IBERO-AMERICAN DEVELOPMENT CORP 0 EL CAMINO HOUSING II DEVELOPMENT FUND COMPANY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 454698249 NON-EQUITY MEMBER OF EL CAMINO HOUSING II LLC NY 501(C)(3) LINE 7 IBERO-AMERICAN DEVELOPMENT CORP 0 EL CAMINO HOUSING LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270696372 LOW INCOME HOUSING NY CAMINO DEL RAY N/A 0 0 EL CAMINO HOUSING II LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 364721413 LOW INCOME HOUSING NY CAMINO DEL RAY N/A 0 0 PUEBLO NUEVO I MM LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 833828064 LOW INCOME HOUSING NY N/A N/A 0 0 CAMINO DEL REY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270695396 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.00010 0 CAMINO DEL REY II INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 454211167 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.00010 0 PUEBLO NUEVO B CORPORATION 954 CLIFFORD AVENUE ROCHESTER NY 14621 845124664 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C -13 -13 0.79000 0 PUEBLO NUEVO MM CORPORATION 954 CLIFFORD AVENUE ROCHESTER NY 14621 850540935 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION S -122 -122 1.00000 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 SCHEDULE R, PART IV - RELATED ORGANIZATIONS TAXABLE AS A CORPORATION: ELECTION UNDER IRC SEC. 168(H)(6)(F)(II) ======================================== IBERO-AMERICAN DEVELOPMENT CORPORATION, A TAX-EXEMPT ENTITY DEFINED IN 168(H)(6)(F)(II) OWNS 100% OF THE VOTING STOCK IN PUEBLO NUEVO MM CORP. WHICH MADE THE ELECTION UNDER 168(H)(6)(F)(II) ON 9/15/2022 TO NOT BE TREATED AS A TAX-EXEMPT ENTITY. IBERO-AMERICAN DEVELOPMENT CORPORATION, A TAX-EXEMPT ENTITY DEFINED IN 168(H)(6)(F)(II) OWNS 79% OF THE VOTING STOCK IN PUEBLO NUEVO B CORP. WHICH MADE THE ELECTION UNDER 168(H)(6)(F)(II) ON 10/14/2022 TO NOT BE TREATED AS A TAX-EXEMPT ENTITY.