2024-07-02T08:27:58-05:00 2023-12-31 WITHUMSMITHBROWN PC 1411 BROADWAY 9TH FLOOR NEW YORK NY 10018 990 2023-01-01 133412236 Amethyst Housing Development Fund Company Inc % HENG LY AMET 7183673200 2751 Grand Concourse Bronx NY 10468 Erika Brandt Asst. Secretary 7185845101 2024-05-30 true Erika Brandt 000000000 true JAMES HUANG CPA P01513328 2127519100 2024-05-30 3 2023 2023-04-26 12:10:37Z Erika Brandt 2751 Grand Concourse Bronx NY 10468 1090387 false X N/A X 1987 NY Acvtiviies related to 58 low income Housing units supported by the US Department of Housing and Urban Development under the section 8 and the section 8 conversion programs. 4 4 0 4 0 895984 884535 166516 200274 261 1635 4815 3943 1067576 1090387 0 0 0 0 0 0 0 0 0 1283431 1248921 1283431 1248921 -215855 -158534 2255362 2114556 5674201 5691929 -3418839 -3577373 X OPERATION OF AN APARTMENT COMPLEX THAT CONTAINS 58 RESIDENTIAL UNITS, INCLUDING ONE NONREVENUE-PRODUCING UNIT, TO HOUSE VERY LOW-INCOME ELDERLY PERSONS. IT IS SUPPORTED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER THE SECTION 8 AND THE SECTION 8 CONVERSION PROGRAMS. false false 1198422 200274 Operation of an apartment complex that contains 58 residential units, including one nonrevenue-producing unit, to house very low-income elderly persons. It is supported by the U.S. Department of Housing and Urban Development under the section 8 and the section 8 conversion programs. 1198422 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false false false false X 4 4 false false false false true true true true true false false true true true true true true false true false NY X X HENG LY 7183673200 2751 GRAND CONCOURSE Bronx NY 10468 X X Joseph P Muriana President 0.5 0.5 X X 0 0 0 George Horton Vice President 0.5 0.0 X X 0 0 0 Phil Dorian Treasurer 0.5 0.0 X X 0 0 0 Richard Espinal Secretary 0.5 0.0 X X 0 0 0 0 0 0 0 false false false Summit Security Services 127 West 26th Streeet NEW YORK NY 10001 Security 209645 1 884535 884535 RENTAL - AFFORDABLE HOUSING 531110 200274 200274 200274 1635 1635 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LAUNDRY AND VENDING 531390 3943 3943 3943 1090387 204217 1635 X 0 0 0 0 0 0 0 0 0 0 73789 73789 3625 3625 46384 46384 0 0 0 0 0 43375 43375 0 0 0 0 0 0 0 0 155197 155197 0 102115 102115 REAL ESTATE TAXES 184975 184975 UTILITIES EXPENSES 124322 124322 SECURITY CONTRACTS 209645 209645 CONTRACT SERVICES 80843 80843 224651 224161 490 1248921 1198422 50499 0 158757 119743 0 0 0 0 16737 36892 0 0 0 0 0 0 0 0 88312 98792 5776618 4087606 1844209 1689012 0 0 0 0 0 0 0 0 147347 170117 2255362 2114556 86340 127842 0 0 0 0 0 0 0 0 0 0 5349000 5349000 0 0 238861 215087 5674201 5691929 X -3418839 -3577373 0 0 -3418839 -3577373 2255362 2114556 -158534 X X false true X true true true X 659988 792296 903434 895984 884535 4136237 164106 154449 160139 166516 200274 845484 0 0 0 824094 946745 1063573 1062500 1084809 4981721 0 0 0 4981721 90 14 12 261 1635 2012 0 90 14 12 261 1635 2012 0 2462 1445 4386 4815 3943 17051 826646 948204 1067971 1067576 1090387 5000784 0.99619 0.99623 0.00040 0.00011 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29000 29000 5595156 3942974 1652182 150068 142238 7830 2394 2394 1689012 UTILITY DEPOSITS 8580 RESERVE FOR REPLACEMENT 131740 TENANT SECURITY DEPOSIT 15095 RESIDUAL RECEIPTS 14702 170117 0 TENANT SECURITY DEPOSIT 15095 PREPAID RENT 38691 ACCRUED PROPERTY TAXES 161301 215087 X 1097947 7560 7560 1090387 1090387 1256481 7560 7560 1248921 1248921 PART XI, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT $7,560 PART XII, LINE 2D - OTHER ADJUSTMENTS RENT FREE UNIT $7,560 PART X LINE 2 - FIN48 The Organization is exempt from taxes under Section 501(c)(3) of the Internal Revenue Code. Accounting Principles Generally Accepted in the United States of America require evaluation of the tax positions taken or expected to be taken in the course of preparing the Organization's tax returns to determine whether the tax positions are more likely than not sustainable upon examination by the applicable taxing authorities, based on the technical merits of the tax positions, and then recognizing the tax benefit that is more likely than not realizable. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current reporting period. Management believes any such positions would be immaterial to the overall financial statements. The Organization has no income tax-related penalties or interest for the periods reported in these financial statements. Should any such penalties and interest be incurred, the Organization's policy would be to recognize them as operating expenses. The Organization's federal and state tax returns for the years after 2020 remain subject to examination by the relevant taxing authorities. FORM 990, PART VI, SECTION A, LINE 6: LINE 6 EXPLANATION - PURSUANT TO ARTICLE III OF THE AMENDED AND RESTATED BY-LAWS, THE CORPORATION IS A MEMBERSHIP CORPORATION. THERE IS ONLY ONE MEMBER, THE ASSOCIATION OF NEW YORK CATHOLIC HOMES, INC. THIS MEMBER CONDUCTS ALL GOVERNANCE MATTERS AND AUTHORIZES MAJOR BUSINESS DECISIONS THROUGH ITS BOARD OF DIRECTORS. ANY ACTION REQUIRED OR PERMITTED TO BE TAKEN AT A MEETING MAY BE TAKEN BY AN INSTRUMENT AS DESCRIBED IN SECTION 6 OF THE BYLAWS: ACTION BY WRITTEN CONSENT. ANY ACTION REQUIRED OR PERMITTED TO BE TAKEN BY THE BOARD OF DIRECTORS OF THE MEMBER OR ANY COMMITTEE THEREOF MAY BE TAKEN WITHOUT A MEETING, IF ALL MEMBERS OF THE BOARD OR COMMITTEE CONSENT IN WRITING TO THE ADOPTION OF A RESOLUTION AUTHORIZING THE ACTION. THE RESOLUTION AND THE WRITTEN CONSENTS THERETO SHALL BE FILED WITH THE MINUTES OF THE PROCEEDINGS OF THE BOARD OF COMMITTEES. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - UNDER ARTICLE IV SECTIONS 1 AND 2 - THE SOLE MEMBER, ASSOCIATION OF NY CATHOLIC HOMES, INC., ACTING THROUGH ITS BOARD OF DIRECTORS,SHALL ELECT DIRECTORS AT THE ANNUAL MEETING. THE BOARD OF DIRECTORS SHALL CONSIST OF NOT LESS THAN (3) OR MORE THAN (7) DIRECTORS UNLESS THE MEMBER CORPORATION SHALL DECIDE OTHERWISE. THE TERM OF EACH DIRECTOR SHALL BE FOR TWO YEARS OR UNTIL A SUCCESSOR HAS BEEN ELECTED ANDDULY QUALIFIED. AFTER ELECTED, A DIRECTOR MAY SERVE UP TO FOUR ADDITIONAL TWO-YEAR TERMS OR A TOTAL OF FIVE CONSECUTIVE TERMS. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - THE MANAGEMENT OF THE ORGANIZATION SHALL BE VESTED IN THE BOARD OF DIRECTORS SELECTED BY THE SOLE MEMBER. THE BOARD OF DIRECTORS SHALL HAVE AND EXECUTE ALL THE POWERS AND PERFORM ALL THE DUTIES RELATING TO THE MANAGEMENT OF THE CORPORATION, ITS PROPERTY AND THE CONDUCT OF ITS AFFAIRS NOT OTHERWISE SPECIFICALLY PROVIDED FOR IN THE CORPORATE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B: LINE 11B EXPLANATION - THE BOARD OF DIRECTORS SHALL PRESENT AT THE ANNUAL MEETING SCHEDULED BY THE SOLE MEMBER, A REPORT, (ENTITLED-ANNUAL REPORT OFDIRECTORS), WHICH INCLUDES A SUMMARY OF MAJOR PROGRAM EVALUATIONS AND ANY SERIOUS DEFICIENCIES NOTED BY REGULATORY AGENCIES. THE ANNUAL REPORT ALSO INCLUDES THE AUDITED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GAAP AND CERTIFIED BY THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS. THE FEDERAL 990 TAX RETURN AND NYS CHAR 500 ARE ALSO REVIEWED AS PART OF THE ANNUAL REPORT, WHICH IS ENTERED INTO THE MINUTES OF THE PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 12C: ON AN ANNUAL BASIS THE BOARD REVIEWS ANY POTENTIAL OR ACTUAL CONFLICTS OF INTERESTS OF BOARD MEMBERS AND OFFICERS. ARTICLE VIII OF THE CORPORATE BY-LAWS COVERS CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15B: BOARD MEMBERS AND OFFICERS DO NOT RECEIVE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19: UPON WRITTEN REQUEST THE ORGANIZATION WILL PROVIDE GOVERNANCE DOCUMENTS, FED APPLICATION 1023, FEDERAL TAX RETURNS AND ANY RELEVANT STATE FILINGS. ALSO, ON AN ANNUAL BASIS, THE ORGANIZATION'S GOVERNANCE DOCUMENTS,IRS DOCUMENTS, FEDERAL TAX RETURNS, AUDITED FINANCIAL STATEMENTS AND ITS ANNUAL CHAR 500 REPORT, FILED WITH THE NEW YORK STATE ATTORNEY GENERAL ARE POSTED ON THE NYSOAG CHARITIES BUREAU WEBSITE. FORM 990, PART XII, LINE 2 C: MANAGEMENT AND BOARD OF DIRECTORS ASSUMES RESPONSIBILTY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PAYROLL REIMBURSEMENTS TOTAL EXPENSES:223596 PROGRAM SERVICES:223596 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MISC. ADM EXPENSES TOTAL EXPENSES:405 PROGRAM SERVICES:405 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:BAD DEBT EXPENSE TOTAL EXPENSES:490 MANAGEMENT AND GENERAL:490 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:WORKMEN'S COMPENSATION TOTAL EXPENSES:160 PROGRAM SERVICES:160