2024-10-17T15:43:24-05:00 2023-12-31 812950760 SAX LLP 1040 AVENUE OF THE AMERICAS-16TH FL NEW YORK NY 10018 990 2023-01-01 132614139 WESTBETH CORP HOUSING DEVELOPMENT FUND COMPANY INC WEST 2126911500 55 BETHUNE STREET NEW YORK NY 10014 PETER MADDEN EXECUTIVE DIRECTOR 2126911500 2024-10-17 1 0 MIKE SCHALL P02024184 2122682804 2024-10-17 2023 2024-10-15 13:58:12Z JOSEPH P VERSACE 55 BETHUNE STREET NEW YORK NY 10014 13494425 0 X WWW.WESTBETH.ORG X 1967 NY WESTBETH IS A HOME FOR THE ARTS AND PROVIDES AFFORDABLE LIVE/WORK SPACES TO LOW-INCOME ARTISTS IN ALL DISCIPLINES. 9 8 35 8 0 0 312278 215497 9429849 10204733 171846 -164415 267120 355276 10181093 10611091 0 0 0 0 3034848 3104585 0 0 82238 9148068 9417306 12182916 12521891 -2001823 -1910800 59130582 57758161 52726330 52356628 6404252 5401533 X WESTBETH A HOME FOR THE ARTS AND PROVIDES HOUSING AND RELATED SUPPORT SERVICES FOR ARTISTS. WESTBETH COMPRISES 384 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME ARTISTS AND THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS' PRODUCTION AND PRESENTATION SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION, THEATER AND PERFORMANCE SPACES -- FOR BOTH RESIDENTS AND NON-RESIDENTS. IT ALSO OFFERS SOCIAL SERVICE SUPPORT FOR AN INCREASINGLY ELDERLY POPULATION, MANY OF WHOM HAVE LIVED IN THE BUILDING SINCE IT OPENED IN 1970. 0 0 10960647 10204733 HOUSING AND RELATED SUPPORT SERVICES FOR ARTISTS. WESTBETH COMPRISES 384 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME ARTISTS AND THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS' WORK SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION AND THEATRE SPACES -- AND PROVIDES SOCIAL SERVICE SUPPORT FOR AN INCREASINGLY ELDERLY POPULATION, MANY OF WHOM HAVE LIVED IN THE BUILDING SINCE THE 1970'S. 10960647 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 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 19 0 1 35 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X ROSE ASSOCIATES INC 2122106682 777 THIRD AVENUE 6TH FLOOR NEW YORK NY 10017 JOE VERSACE CHAIR 3.00 X X 0 0 0 JUDD LEVY VICE CHAIR 2.00 X X 0 0 0 ALINA LUNDRY TREASURER 3.00 X X 0 0 0 CHRISTINA MAILE SECRETARY 2.00 X X 0 0 0 SAMANTHA VINCENT DIRECTOR 2.00 X 0 0 0 ADAM DAVIDSON DIRECTOR 2.00 X 0 0 0 ELSIE MCCABE THOMPSON DIRECTOR 2.00 X 0 0 0 ERIN QUINN PURCELL DIRECTOR 2.00 X 0 0 0 GEORGE COMINSKIE DIRECTOR/INTERIM ED. 40.00 X X 57750 0 0 PETER MADDEN EXECUTIVE DIRECTOR 40.00 X 135955 0 0 MIRIAM TASH COMMUNITY MANAGER 40.00 X 108634 0 0 SHELLY STAINE MANAGER 40.00 X 107117 0 0 NORRIS GORDON RESIDENT MANAGER 40.00 X 108582 0 34070 518038 0 34070 4 0 0 0 ELEMENTAL ARCHITECTURE LLC 350 7TH AVE NEW YORK NY 10001 APARTMENT RENOVATIONS 304300 1 195497 20000 215497 RENTAL INCOME 531110 10204733 10204733 10204733 205824 205824 2513095 2883334 -370239 -370239 -370239 BUILDING SERVICES 531110 348766 348766 OTHER INCOME 900099 6510 6510 355276 10611091 10204733 0 190861 57750 42984 14766 2247690 1672981 574709 657921 615301 42620 141224 132076 9148 211250 211250 132868 132868 67765 67765 14048 14048 434609 249563 102808 82238 157325 122197 35128 58024 43187 14837 2598951 2598951 368 368 26264 26264 696148 696148 3012500 3006522 5978 1092558 1092558 REPAIRS & MAINTENANCE 687811 687811 BAD DEBT 226817 226817 12521891 10960647 1479006 82238 652302 672383 100337 261808 287282 901469 1071634 76080260 26560631 49018160 49519629 7388117 5598756 5978 802411 608477 59130582 57758161 1412205 1140204 135410 152845 14554873 14333289 34958219 35070734 1665623 1659556 52726330 52356628 X 6379252 5401533 25000 0 6404252 5401533 59130582 57758161 -1910800 908081 0 X 0 1 X 1 0 X 251946 557469 617282 312278 215497 1954472 9367303 9008774 9089410 9429849 10204733 47100069 9619249 9566243 9706692 9742127 10420230 49054541 0 0 0 49054541 278710 269821 291492 171846 205824 1217693 278710 269821 291492 171846 205824 1217693 86800 96670 193027 267120 355276 998893 9984759 9932734 10191211 10181093 10981330 51271127 0.95680 0.96050 0.02380 0.02460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2689780 2689780 71698853 25658866 46039987 1691627 901765 789862 49519629 TENANT SECURITY DEPOSITS 431843 DUE TO GOVERNMENT AGENCY 1227713 1659556 X 11505124 908081 908081 10597043 14048 14048 10611091 12507843 0 12507843 14048 14048 12521891 PART X, LINE 2: WESTBETH DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL, UNCERTAIN TAX POSITIONS. TAX FILINGS FOR PERIODS ENDING DECEMBER 31, 2020 AND LATER ARE SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT TO THE FINANCE COMMITTEE VIA E-MAIL PRIOR TO BEING FILED WITH THE IRS. ALL MEMBERS OF THE FINANCE COMMITTEE WERE AFFORDED THE OPPORTUNITY TO ASK QUESTIONS AND OFFER EDITS. THE DECISION OF WHETHER TO MAKE EDITS WAS MADE BY THE STAFF PERSON IN CHARGE OF FINANCES WITHIN THE ORGANIZATION IN CONJUNCTION WITH CONSULTATION WITH OUR TAX PREPARER. ONCE THE FINANCE COMMITTEE APPROVES THE 990 ON BEHALF OF THE BOARD, IT IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A BOARD APPROVED CONFLICTS OF INTEREST POLICY. EACH BOARD MEMBER AND OFFICER MUST FILL OUT AN ANNUAL DECLARATION STATING THEY HAD NO CONFLICTS OR IF THERE ARE CONFLICTS THEY MUST IDENTIFY THE NATURE OF THEIR INTERESTED PARTY AND THESE ARE REVIEWED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE/COMPENSATION COMMITTEE REVIEWS SALARIES OF COMPARABLE ORGANIZATIONS AND REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR TO DETERMINE IF THE EXISTING SALARY FALLS WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY AND BENEFIT PACKAGE IS VOTED ON BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST.