2024-02-14T16:22:52-06:00 2023-03-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-04-01 133218852 EVERLASTING PINE HOUSING DEVELOPMENT FUND COMPANY INC EVER 2126258833 96 BAXTER STREET 13TH FLOOR NEW YORK NY 10013 SHERMAN ENG ACTING CHAIR & PRESIDENT 2126258833 2024-02-14 1 SHERMAN ENG XXX-XX-XXXX 1 GARRETT M HIGGINS P00543209 9143818900 2024-02-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHERMAN ENG 96 BAXTER STREET 13TH FLOOR NEW YORK NY 10013 1649069 0 X N/A X 1984 NY OPERATION OF AN APARTMENT COMPLEX CONSISTING OF 87 UNITS FOR THE ELDERLY, AND HANDICAPPED PERSONS OF LOW INCOME. 4 4 0 4 0 0 0 1394438 1634326 241991 778 1158 1777 11482 1636881 1649069 0 0 0 0 0 0 0 0 0 1455888 1485768 1455888 1485768 180993 163301 2446432 2605383 7442504 7438154 -4996072 -4832771 X EVERLASTING PINE HOUSING DEVELOPMENT FUND COMPANY, INC. (THE "PROJECT") IS A NON-PROFIT ORGANIZATION INCORPORATED ON APRIL 16, 1984 UNDER ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW AND SECTION 402 OF THE NOT-FOR-PROFIT CORPORATION LAW OF THE STATE OF NEW YORK. THE PROJECT WAS ORGANIZED TO DEVELOP AND OPERATE A HOUSING PROJECT CONTAINING 87 UNITS FOR ELDERLY AND HANDICAPPED PERSONS OF LOW INCOME PURSUANT TO SECTION 202 OF THE HOUSING ACT OF 1959. 0 0 1242976 0 241991 HOUSING PROGRAM: OPERATION OF A BUILDING CONTAINING 87 UNITS FOR ELDERLY AND HANDICAPPED PERSONS OF LOW INCOME PURSUANT TO SECTION 202 OF THE HOUSING ACT OF 1959. 1242976 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 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 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X JEFFREY P GOLDSTEIN PRESIDENT MM 2126258833 96 BAXTER STREET NEW YORK NY 10013 SHERMAN ENG ACTING CHAIR & PRESIDENT 10.00 35.00 X X 0 0 0 PO-LING NG TREASURER 1.00 0.50 X X 0 0 0 WING MA SECRETARY 1.00 0.50 X X 0 0 0 DAVID CHEN DIRECTOR 1.00 0.50 X 0 0 0 CHARLES LAI EXECUTIVE DIRECTOR THRU FEB 2023 10.00 35.00 X 0 152789 0 0 152789 0 0 0 1 0 0 1394438 1394438 RENTAL INCOME 531110 241991 241991 241991 1158 1158 OTHER RESIDENT CHARGES 900099 11009 11009 REBATES AND REFUNDS 900099 473 473 11482 1649069 241991 0 12640 64579 64579 10015 10015 15333 15333 23678 23678 40581 23747 16834 7270 7270 876118 855541 20577 89519 89519 ALLOCATED SALARIES 277869 193363 84506 REPAIRS AND MAINTENANCE 80806 80806 1485768 1242976 242792 0 114516 30846 14560 18642 77781 80826 11933424 9916080 1833772 2017344 405803 457725 2446432 2605383 184585 292674 9127 8931 23207 23228 5214707 4940862 2010878 2172459 7442504 7438154 X -4996072 -4832771 -4996072 -4832771 2446432 2605383 163301 0 X X 0 1 X 1 1 1 X 1339945 1317675 1359186 1349636 1394438 6760880 262656 300167 257651 284690 241991 1347155 1602601 1617842 1616837 1634326 1636429 8108035 0 0 0 8108035 6043 6238 1027 778 1158 15244 6043 6238 1027 778 1158 15244 3026 127645 31757 1777 11482 175687 1611670 1751725 1649621 1636881 1649069 8298966 0.97700 0.97800 0.00180 0.00190 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY INCOME - 2018 AMOUNT: $ 1,764. 2020 AMOUNT: $ 993. MISC INCOME - 2018 AMOUNT: $ 916. OTHER RESIDENT CHARGES - 2018 AMOUNT: $ 346. 2019 AMOUNT: $ 33. 2020 AMOUNT: $ 25. 2022 AMOUNT: $ 11,009. BAD DEBT RECOVERY - 2019 AMOUNT: $ 30,536. 2020 AMOUNT: $ 30,417. REIMBURSEMENTS - 2019 AMOUNT: $ 94,292. WRITE OFFS - 2019 AMOUNT: $ 2,086. REBATES AND REFUNDS - 2019 AMOUNT: $ 698. 2020 AMOUNT: $ 322. 2021 AMOUNT: $ 1,777. 2022 AMOUNT: $ 473. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 11289936 9790215 1499721 134520 125865 8655 508968 508968 2017344 SECURITY DEPOSITS 38944 DEBT SERVICE RESERVE 413567 RESIDUAL RECEIPTS 5214 457725 DUE TO RELATED PARTY 2172459 2172459 X 1649069 0 1649069 0 1649069 1485768 0 1485768 0 1485768 PART IV, LINE 2B: FUNDS FOR THE PERSONAL USE OF RESIDENTS AND FUNDS RECEIVED AS SECURITY DEPOSITS FOR SERVICES ARE HELD IN TRUST FOR THEM BY THE PROJECT. THESE FUNDS ARE SEGREGATED IN A SEPARATE INTEREST-BEARING ACCOUNT FOR THE TENANTS' BENEFIT AND ARE NOT AVAILABLE FOR OTHER USES. PART X, LINE 2: THE PROJECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE PROJECT HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE PROJECT IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO MARCH 31, 2020. 0 0 0 0 0 0 0 0 0 CHARLES LAI EXECUTIVE DIRECTOR THRU FEB 2023 0 152789 0 0 0 0 0 0 0 0 0 152789 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE PROJECT IS MANAGED BY T.U.C. MANAGEMENT COMPANY, INC. THEY ARE ENTITLED TO A MANAGEMENT FEE OF 3.98% OR $59.50 PER UNIT PER MONTH. IN ADDITION, A MISCELLANEOUS FEE OF 3.98% AND AN ADD-ON FEE OF $1.50 PER UNIT PER MONTH FOR THE PROJECT OWNER'S NOT-FOR-PROFIT STATUS. FOR THE YEAR ENDED MARCH 31, 2023, MANAGEMENT FEE TOTALED $64,579. NONE OF THE ORGANIZATION'S OFFICERS LISTED IN PART VII WERE COMPENSATED BY THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 7B A DIRECTOR CAN BE REMOVED FROM OFFICE BY AN ORDER FROM THE COMMISSIONER OF THE DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE PROJECT 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. ONCE THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE EXECUTIVE DIRECTOR AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, THE ADMINISTRATING OFFICER WILL SEND A COPY TO EACH BOARD MEMBER EITHER ELECTRONICALLY OR VIA USPS. THE ADMINISTRATING OFFICER CONFIRMS IT RECEIPT WITH EACH MEMBER. ANY COMMENTS ARE THEN SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. ONCE THE COMMENTS ARE ADDRESSED, THE RETURN IS THEN FINALIZED AND APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND KEY EMPLOYEE OF THE PROJECT, AS WELL AS NOMINEES FOR ELECTION (PRIOR TO HIS OR HER INITIAL ELECTION), MUST SUBMIT TO THE SECRETARY OF THE BOARD, AT LEAST ONCE PER YEAR (AND UPDATED AS APPROPRIATE), A COMPLETED CONFLICT-OF-INTEREST QUESTIONNAIRE. THE SECRETARY SHALL PROVIDE COPIES OF ALL COMPLETED STATEMENTS TO THE CHAIR OF THE AUDIT COMMITTEE/BOARD FOR THEIR REVIEW. ADDITIONALLY, ANY INTERESTED PERSON WITH A POTENTIAL OR ACTUAL CONFLICT OF INTEREST MUST DISCLOSE ALL MATERIAL FACTS RELATING TO THE PROPOSED TRANSACTION OR OTHER ARRANGEMENT AS THEY OCCUR. THE AUDIT COMMITTEE/BOARD WILL REVIEW AND DETERMINE WHETHER TO APPROVE OR RATIFY THE PROPOSED TRANSACTION OR ARRANGEMENT AND MAY ONLY APPROVE THE UNDERLYING MATTER IF IT DETERMINES THAT, UNDER THE TERMS AND WITHIN THE CIRCUMSTANCES AND CONDITIONS PRESENTED, IT IS FAIR, REASONABLE, AND IN THE BEST INTERESTS OF THE PROJECT. THE INTERESTED PERSON SHALL ONLY BE INFORMED OF THE FINAL DECISION AND NOT OF PARTICULAR DIRECTORS' POSITIONS OR HOW THEY VOTED. FORM 990, PART VI, SECTION C, LINE 19 THE PROJECT MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO 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 AVAILABLE UPON WRITTEN REQUEST AT 96 BAXTER STREET, 13TH FLOOR, NEW YORK, NY 10013 OR BY CALLING THE ORGANIZATION DIRECTLY AT 212-625-8833. FORM 990, PART XII, LINE 2C: THE PROJECT HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. WALKER STREET-CHUNG PAK LOCAL DEVELOPMENT CORPORATION 96 BAXTER STREET 13TH FLOOR NEW YORK NY 10013 133275044 COMMUNITY RENTAL PROPERTY NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0