2024-05-13T22:04:10-05:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-07-01 522264227 NAZARETH HOUSE HOUSING DEVELOPMENT FUND CORPORATION NAZA 2127771010 519 EAST 11TH STREET NEW YORK NY 10009 RACHEL LEVINE EXECUTIVE DIRECTOR 2127771010 2024-05-13 1 RACHEL LEVINE 999009999 1 JOSEPH R CONNOLLY P00543209 9143818900 2024-05-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z RACHEL LEVINE 519 EAST 11TH STREET NEW YORK NY 10009 192701 0 X N/A X 2000 NY PROVIDE TRANSITIONAL & PERMANENT HOUSING TO LOW INCOME FAMILIES IN THE LOWER EAST SIDE OF NYC. 5 4 0 5 0 0 60084 68748 112483 107380 7 4 5586 16569 178160 192701 0 0 0 0 0 0 0 0 0 312764 288351 312764 288351 -134604 -95650 1789473 1710994 1446551 1463722 342922 247272 NAZARETH HOUSING HDFC IS COMMITTED TO PROVIDING PERMANENTLY AFFORDABLE HOUSING TO LOW-INCOME HOUSEHOLDS. THE BUILDING MAINTAINS 15 ONE OR TWO BEDROOM APARTMENTS FOR QUALIFYING HOUSEHOLDS WHOSE INCOME IS LESS THAN 50% OR 60% OF THE AREA MEDIAN INCOME AS DETERMINEDBY HUD. 0 0 251357 0 107380 NAZARETH HOUSE HDFC (ALSO REFERRED TO AS MARION AGNES HOUSE, AFTER ITS FOUNDER) PROVIDES FIFTEEN PERMANENTLY AFFORDABLE APARTMENTS TO FORMERLY HOMELESS FAMILIES AND INDIVIDUALS. ITS ADJOINING PROGRAM SPACE HOSTS LOUISE'S PANTRY, OUR FOOD PANTRY< WHICH SERVES UP TO 220 HOUSEHOLDS PER WEEK. RESIDENTS OF THE BUILDING BENEFIT FROM NEARBY PROGRAMMING AND SERVICES OFFERED OUT OF NAZARETH HOUSING, INC'S OFFICE AT 1 HAVEN PLAZA/200 AVENUE C. THESE INCLUDE THE ADJUCENT FOOD PANTRY, SUPPORTIVE CASE MANAGEMENT, HOUSING COUNSELING, AND INDIVIDUAL CAPABILITY PROGRAMMING. THE HOUSING PROVIDED BY NAZARETH HOUSE HDFC ALLOWS OUR LOW-INCOME RESIDENTS TO REMAIN IN THEIR COMMUNITY. 251357 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 1 0 0 0 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 NY X X RACHEL LEVINE 2127771010 519 EAST 11TH STREET NEW YORK NY 10009 RACHEL LEVINE EXECUTIVE DIRECTOR 3.00 37.00 X X 0 161097 2057 MARY BETH HOGAN PRESIDENT 1.00 5.00 X X 0 0 0 BENNETTE KRAMER SECRETARY 1.00 5.00 X X 0 0 0 MARY-KAY ORR DIRECTOR 1.00 4.00 X 0 0 0 STEVE WRONSKI DIRECTOR 1.00 4.00 X 0 0 0 SIBYL-MICHELLE AKINS CONTROLLER 3.00 37.00 X 0 70400 15942 0 231497 17999 0 0 1 0 0 5000 63748 68748 RENTAL INCOME 531110 107380 107380 107380 4 4 MISCELLANEOUS INCOME 900099 16569 16569 16569 192701 107380 0 16573 23052 23052 10750 10750 900 595 305 1390 1390 72656 72605 51 139346 139346 26613 25505 1108 REPAIRS AND MAINTENANCE 13104 13104 MISCELLANEOUS 530 192 338 BAD DEBT EXPENSE 10 10 288351 251357 36994 0 43736 64134 129520 142873 57578 83937 3594243 2187706 1545127 1406537 13512 13513 1789473 1710994 51010 45073 13430 11364 1306190 1289102 75921 118183 1446551 1463722 X 342922 247272 342922 247272 1789473 1710994 -95650 0 X X 1 X 0 0 0 X 40026 46170 47646 60084 68748 262674 141588 147390 135810 112483 107380 644651 181614 193560 183456 172567 176128 907325 0 0 0 907325 35 8 6 7 4 60 35 8 6 7 4 60 50 50 5586 16569 22255 181699 193618 183462 178160 192701 929640 0.97600 0.99380 0.00010 0.00010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2018 AMOUNT: $ 50. 2019 AMOUNT: $ 50. 2021 AMOUNT: $ 5,586. 2022 AMOUNT: $ 16,569. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 3555262 2151957 1403305 38981 35749 3232 1406537 DUE TO AFFILIATE 118183 118183 X PART IV, LINE 2B: THE AMOUNT IS HELD AS A DAMAGE DEPOSIT. THE DEPOSIT SHALL BE RETURNED TO THE TENANT WITHOUT INTEREST, AND LESS ANY SET OFF FOR DAMAGES TO THE PREMISES UPON TERMINATION OF THE LEASE AGREEMENT. PART X, LINE 2: THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2020. 0 0 0 0 0 0 0 0 0 RACHEL LEVINE EXECUTIVE DIRECTOR 0 161097 0 0 0 0 0 0 0 2057 0 163154 0 0 PART I, LINE 3 A RELATED PARTY, NAZARETH HOUSING, INC., COMPENSATES OFFICERS OF THE ORGANIZATION. THE FOLLOWING IS THEIR PROCESS FOR DETERMINING COMPENSATION. SALARIES OF THE CEO AND TOP MANAGEMENT ARE REVIEWED BY THE EMPLOYEE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF NAZARETH HOUSING, INC. THIS COMMITTEE IS COMPRISED OF INDEPENDENT TRUSTEES. THE TRUSTEES REVIEW COMPENSATION FOR REASONABLENESS. THEY USE COMPARATIVE INDUSTRY DATA AND FORM 990S OF OTHER ORGANIZATIONS IN THEIR REVIEW PROCESS. THE PROCESS FOR EMPLOYEE COMPENSATION INCLUDES DEVELOPMENT OF COMPENSATION RECOMMENDATIONS BASED ON MARKET SURVEYS AND OTHER COMPARATIVE INDUSTRY DATA AS WELL AS WRITTEN EMPLOYMENT CONTRACTS. THE SALARY INFORMATION FOR THIS GROUP IS OBTAINED BY A CONSULTANT THAT IS ENGAGED BY THE EXECUTIVE COMPENSATION COMMITTEE. THIS CONSULTANT USES CURRENT MARKET COMPENSATION SURVEYS AND OTHER COMPARATIVE INDUSTRY DATA TO MAKE RECOMMENDATIONS. THE RECOMMENDATIONS ARE THEN PRESENTED TO THE EXECUTIVE COMPENSATION COMMITTEE FOR APPROVAL. THE EXECUTIVE COMPENSATION COMMITTEE REPORTS THAT COMPENSATION WAS APPROVED TO THE FULL BOARD. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION PURCHASES MANAGEMENT SERVICES FROM NAZARETH HOUSING, INC., A RELATED PARTY. MANAGEMENT SERVICES INCLUDE PROPERTY MANAGEMENT AND SUPERVISION. THESE FEES ARE CHARGEABLE AT A RATE BASED ON 8.5% OF PROJECTED ANNUAL GROSS INCOME PLUS SUPERINTENDENT COSTS. MANAGEMENT SERVICES INCLUDE PROPERTY MANAGEMENT AND SUPERVISION. MANAGEMENT FEES TOTALING $18,952 WERE PAID DURING FISCAL YEAR 2023. REFER TO PART VII FOR INDIVIDUALS WHO ARE COMPENSATED BY THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS SHALL HAVE GENERAL POWER TO CONTROL AND MANAGE THE AFFAIRS AND PROPERTY OF THE CORPORATION IN ACCORDANCE WITH THE PURPOSES AND LIMITATIONS SET FORTH IN THE CERTIFICATE OF INCORPORATION, AS AMENDED. THE DIRECTORS SHALL BE ELECTED FOR ANY NUMBER OF THREE (3) YEAR TERMS AT THE ANNUAL MEETING OF THE BOARD BY A VOTE OF THE MAJORITY OF THE DIRECTORS. THE SOLE MEMBER WAS REMOVED PREVIOUSLY AND NO LONG HAS THE RIGHT TO ELECT/APPOINT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE BY LAWS MAY BE AMEMDED OR REPEALED BY THE AFFIRMATIVE VOTE OF THE MAJORITY OF THE ENTIRE BOARD AT ANY MEETING OF THE BOARD . THE SOLE MEMBER WAS REMOVED PREVIOULSY. GOVERNING DECISIONS ARE NO LONGER SUBJECT TO SOLE MEMBER APPROVAL. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT ELECTRONICALLY TO THE BOARD OF THE HDFC BY THE EXECUTIVE DIRECTOR FOR REVIEW PRIOR TO FINALIZATION AND SUBMISSION TO THE IRS. THE BOARD DISCUSSES ANY QUESTIONS, MODIFICATIONS, OR CHANGES FROM PRIOR YEARS. THE BOARD VOTES TO APPROVE THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO A DIRECTOR'S INITIAL ELECTION TO THE BOARD, OR AN OFFICER OR KEY EMPLOYEE'S EMPLOYMENT AT THE CORPORATION, AND THEREAFTER ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES SHALL DISCLOSE IN WRITING TO THE SECRETARY OF THE CORPORATION: (I) ANY ENTITY OF WHICH SUCH PERSON OR A RELATIVE OF SUCH PERSON IS AN OFFICER, DIRECTOR, TRUSTEE, MEMBER, OWNER, OR EMPLOYEE AND WITH WHICH THE CORPORATION HAS A RELATIONSHIP, (II) ANY FINANCIAL INTEREST SUCH PERSON MAY HAVE IN ANY CORPORATION, ORGANIZATION, PARTNERSHIP OR OTHER ENTITY WHICH PROVIDES PROFESSIONAL OR OTHER GOODS OR SERVICES TO CORPORATION FOR A FEE OR OTHER COMPENSATION, AND (III) ANY POSITION OR OTHER MATERIAL RELATIONSHIP SUCH DIRECTOR, OFFICER, KEY EMPLOYEE, OR RELATIVE OF SUCH PERSON, MAY HAVE WITH ANY NOT-FOR-PROFIT CORPORATION WITH WHICH THE CORPORATION HAS A BUSINESS RELATIONSHIP. A COPY OF EACH DISCLOSURE STATEMENT SHALL BE KEPT IN CORPORATION'S FILES AND MADE AVAILABLE TO ANY DIRECTOR, OFFICER, OR KEY EMPLOYEE UPON REQUEST. EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE SHALL ANNUALLY SIGN AND SUBMIT TO THE SECRETARY OF THE CORPORATION A STATEMENT WHICH AFFIRMS SUCH PERSON: (A) HAS RECEIVED A COPY OF THIS POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, AND (C) HAS AGREED TO COMPLY WITH THE POLICY. ALL TRANSACTIONS, AGREEMENTS OR ANY OTHER ARRANGEMENTS BETWEEN THE CORPORATION AND A RELATED PARTY, AND ANY OTHER TRANSACTIONS WHICH MAY INVOLVE A POTENTIAL CONFLICT OF INTEREST, SHALL BE REVIEWED BY THE INDEPENDENT DIRECTORS OF THE BOARD. ALL RELATED PARTIES WITH A FINANCIAL INTEREST SHALL LEAVE THE ROOM IN WHICH SUCH DELIBERATIONS ARE CONDUCTED. THE INDEPENDENT DIRECTORS OF THE BOARD WILL THEN DETERMINE WHETHER THE CONTEMPLATED RELATED PARTY TRANSACTION IS FAIR, REASONABLE, AND IN THE BEST INTERESTS OF THE CORPORATION AT THE TIME OF SUCH DETERMINATION. THE CORPORATION WILL NOT ENTER INTO ANY RELATED PARTY TRANSACTION UNLESS IT IS DETERMINED TO BE FAIR, REASONABLE AND IN THE BEST INTEREST OF THE CORPORATION AT THE TIME OF SUCH DETERMINATION. THE BOARD SHALL, AFTER CONSIDERING ALTERNATE TRANSACTIONS AND/OR COMPARABILITY DATA, DETERMINE IN GOOD FAITH BY VOTE THE INDEPENDENT DIRECTORS OF THE BOARD WHETHER THE TRANSACTION OR ARRANGEMENT IS FAIR, REASONABLE, AND IN THE BEST INTEREST OF THE CORPORATION AT THE TIME OF SUCH DECISION. THE TRANSACTION SHALL BE APPROVED BY NOT LESS THAN A MAJORITY VOTE OF THE INDEPENDENT DIRECTORS OR COMMITTEE MEMBERS PRESENT AT THE MEETING. IN CONFORMITY WITH THE ABOVE CRITERIA, THE BOARD SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT AND SHALL DOCUMENT THE MEETING CONTEMPORANEOUSLY. ALL RELATED PARTIES WITH A FINANCIAL INTEREST MUST NOT BE PRESENT FOR DELIBERATIONS AND VOTING ON THE TRANSACTION OR ARRANGEMENT IN WHICH HE OR SHE HAS A FINANCIAL INTEREST. HOWEVER, RELATED PARTIES ARE NOT PROHIBITED FROM PROVIDING INFORMATION REGARDING THE TRANSACTION TO THE BOARD PRIOR TO THE BOARD'S DELIBERATIONS. ONLY INDEPENDENT DIRECTORS OF THE BOARD SHALL VOTE ON RELATED PARTY TRANSACTIONS. NO DIRECTOR OR OFFICER SHALL VOTE, ACT, OR ATTEMPT TO INFLUENCE IMPROPERLY THE DELIBERATIONS ON ANY MATTER IN WHICH HE OR SHE HAS BEEN DETERMINED BY THE BOARD TO HAVE A FINANCIAL INTEREST. ANY ATTEMPT TO VOTE, ACT, OR IMPROPERLY INFLUENCE DELIBERATIONS BY A RELATED PARTY ON ANY MATTER WITH WHICH SUCH PERSON HAS A FINANCIAL INTEREST MAY BE GROUNDS FOR REMOVAL FROM THE BOARD OR TERMINATION FROM THE CORPORATION. A VOTING MEMBER OF THE BOARD OF DIRECTORS OR AN OFFICER WHO RECEIVES COMPENSATION DIRECTLY OR INDIRECTLY FROM THE CORPORATION FOR SERVICES OR A DIRECTOR SERVING AS A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS IS PRECLUDED FROM VOTING OR ACTING ON MATTERS PERTAINING TO THAT DIRECTOR'S OR OFFICER'S COMPENSATION. 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 OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XII, LINE 2C: THE FULL BOARD ASSUMES RESPONSIBILITY OF OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT ACCOUNTANTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NAZARETH HOUSING INC 519 EAST 11TH STREET NEW YORK NY 10009 133176952 PROVIDE EMERGENCY FAMILY SHELTER AND HOMELESSNESS PREVENTION NY 501(C)(3) LINE 7 N/A 0 721 E 6TH STREET HOUSING DEVELOPMENT FUND CORPORATION 519 EAST 11TH STREET NEW YORK NY 10009 133636346 HOUSING FOR LOW INCOME FAMILIES NY 501(C)(3) LINE 10 NAZARETH HOUSING INC 0 PARK AVENUE THORPE HOUSING DEVELOPMENT FUND CORPORATION 406 EAST 184TH STREET NEW YORK NY 10458 133830057 HOUSING FOR LOW INCOME FAMILIES NY 501(C)(3) LINE 10 NAZARETH HOUSING INC 0 CROTONA THORPE HOUSING DEVELOPMENT FUND CORPORATION 2252 CROTONA AVENUE BRONX NY 10457 465612524 HOUSING FOR LOW INCOME FAMILIES NY NAZARETH HOUSING INC C 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0