2024-11-13T21:49:39-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 822119139 DIEGO BEEKMAN LOCAL DEVELOPMENT CORPORATION DIEG 7182929222 298 CYPRESS AVENUE BRONX NY 10454 ARLINE PARKS VICE CHAIR & CEO 7182929222 2024-11-13 1 1 MELISSA MODELSON P01603524 9143818900 2024-11-13 2023 2024-10-15 13:58:12Z ARLINE PARKS 298 CYPRESS AVENUE BRONX NY 10454 68808 0 X N/A X 2017 NY THE CORPORATION IS FORMED FOR THE CHARITABLE PURPOSE OF RELIEVING AND REDUCING UNEMPLOYMENT, BETTERING AND MAINTAINING JOB OPPORTUNITIES, INSTRUCTING OR TRAINING INDIVIDUALS TO IMPROVE OR DEVELOP THEIR CAPABILITIES FOR SUCH JOB, CARRYING ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE COMMUNITY AS HEREIN AFTER DEFINED, BY ATRRACTING NEW INDUSTRY TO THE COMMUNITY, AND LESSENING THE BURDENS OF GOVERNMENT AND ACTING IN THE PUBLIC INTEREST. 3 2 0 2 0 0 0 0 0 0 0 0 -52849 -37578 -52849 -37578 0 0 0 0 0 0 0 0 0 0 1722 0 1722 -52849 -39300 1907017 1868453 2076740 2077476 -169723 -209023 THE PURPOSE OF THE DIEGO BEEKMAN LOCAL DEVELOPMENT CORPORATION IS TO CREATE ADDITIONAL AFFORDABLE HOUSING AND TO PROVIDE SUPPORTIVE HOUSING SERVICES SUCH AS YOUTH PROGRAMS, SENIOR CITIZEN SERVICES THAT INCLUDES SOCIAL SERVICES FOR AT RISK RESIDENTS THAT NEED SERVICES. 0 0 1722 0 0 DIEGO BEEKMAN LOCAL DEVELOPMENT CORPORATION WAS FORMED FOR THE CHARITABLE AND PUBLIC PURPOSE OF RELIEVING AND REDUCING UNEMPLOYMENT, PROMOTING AND PROVIDING FOR ADDITIONAL AND MAXIMUM EMPLOYMENT, BETTERING AND MAINTAINING JOB OPPORTUNITIES, INSTRUCTING OR TRAINING INDIVIDUALS TO IMPROVE OR DEVELOP THEIR CAPABILITIES FOR SUCH JOB, CARRYING ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE COMMUNITY AS HEREIN AFTER DEFINED BY ATTRACTING NEW INDUSTRY TO THE COMMUNITY, AND LESSENING THE BURDENS OF GOVERNMENT AND ACTING IN THE PUBLIC INTEREST. THE COMMUNITY IS LOCATED IN BRONX COUNTY, NEW YORK STATE AND IS KNOWN AS MOTT SECTION OF THE BRONX. 1722 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 1 1 1 1 0 0 0 0 1 1 1 1 1 0 0 0 NY X X ARLINE PARKS 7182929222 298 CYPRESS AVENUE BRONX NY 10454 ARLINE PARKS VICE CHAR & CEO 1.00 40.00 X X 0 221809 36655 ANDREW REICHER BOARD CHAIRMAN 1.00 1.00 X X 0 0 0 MARIA ORTIZ SECRETARY 1.00 1.00 X X 0 0 0 0 221809 36655 0 0 1 0 0 68808 106386 -37578 -37578 -37578 -37578 0 0 -37578 ALLOCATED WAGES 1722 1722 1722 1722 0 0 5709 9790 7478 7553 11136 14131 2120664 296294 1870159 1824370 12535 12609 1907017 1868453 5839 6501 9150 9224 2061751 2061751 2076740 2077476 X -169723 -209023 -169723 -209023 1907017 1868453 -39300 0 X X 0 1 X 0 0 X X X 1 DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION INC 760709606 10 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 1: THE ARTICLES OF INCORPORATION DESIGNATES DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION HOUSING DEVELOPMENT FUND CORPORATION ("DBMHDFC") AS ITS SUPPORTED ORGANIZATION. THE PURPOSES FOR WHICH THE ORGANIZATION IS FORMED ARE TO RELIEVE AND REDUCE UNEMPLOYMENT, THE BETTERMENT AND MAINTENANCE OF JOB OPPORTUNITIES, INSTRUCTING OR TRAINING INDIVIDUALS TO IMPROVE OR DEVELOP THEIR CAPABILITIES FOR SUCH A JOB, AND CARRYING ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE COMMUNITY. THE ORGANIZATIONS HAVE A HISTORIC RELATIONSHIP AS DBMHDFC IS THE SOLE MEMBER OF DIEGO BEEKMAN LOCAL DEVELOPMENT FUND ("DBLDC"), THE SUPPORTING ORGANIZATION. THE ORGANIZATION LISTS DBMHDFC AS ITS SUPPORTED ORGANIZATION, WHOSE PURPOSE IS TO ASSIST MODERATE TO LOW INCOME FAMILIES BY PROVIDING QUALITY AFFORDABLE HOUSING. BOTH ORGANIZATIONS PROVIDE SUPPORT TO THE SAME CLASS OF INDIVIDUALS, AND HAVE A HISTORIC AND CONTINUING RELATIONSHIP. PART I, LINE 12G, COLUMN IV: THE ARTICLES OF INCORPORATION DESIGNATES DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION HOUSING DEVELOPMENT FUND CORPORATION ("DBMHDFC") AS ITS SUPPORTED ORGANIZATION. THE PURPOSES FOR WHICH THE ORGANIZATION IS FORMED ARE TO RELIEVE AND REDUCE UNEMPLOYMENT, THE BETTERMENT AND MAINTENANCE OF JOB OPPORTUNITIES, INSTRUCTING OR TRAINING INDIVIDUALS TO IMPROVE OR DEVELOP THEIR CAPABILITIES FOR SUCH A JOB, AND CARRYING ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE COMMUNITY. THE ORGANIZATIONS HAVE A HISTORIC RELATIONSHIP AS DBMHDFC IS THE SOLE MEMBER OF DIEGO BEEKMAN LOCAL DEVELOPMENT FUND ("DBLDC"), THE SUPPORTING ORGANIZATION. THE ORGANIZATION LISTS DBMHDFC AS ITS SUPPORTED ORGANIZATION, WHOSE PURPOSE IS TO ASSIST MODERATE TO LOW INCOME FAMILIES BY PROVIDING QUALITY AFFORDABLE HOUSING. BOTH ORGANIZATIONS PROVIDE SUPPORT TO THE SAME CLASS OF INDIVIDUALS, AND HAVE A HISTORIC AND CONTINUING RELATIONSHIP. 0 1 X 400000 400000 1703379 284129 1419250 17285 12165 5120 1824370 DUE TO AFFILIATE 2061751 2061751 X 22084468 22122046 22122046 -37578 0 -37578 21334120 21332398 21332398 1722 0 1722 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENTS. PART X, LINE 2: THE HOUSING COMPANY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE HOUSING COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE HOUSING COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE FROM CONSOLIDATED ENTITY REPORTED IN FINANCIAL STATEMENTS 22,015,660. RENT EXPENSE REPORTED ON PART VIII, LINE 6B: 106,386. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CONSOLIDATED ENTITY REPORTED IN FINANCIAL STATEMENTS 21,226,012. RENT EXPENSE REPORTED ON PART VIII, LINE 6B: 106,386. 0 0 0 0 0 0 0 0 0 ARLINE PARKS VICE CHAR & CEO 0 200621 0 20000 0 1188 0 1312 0 35343 0 258464 0 0 PART I, LINE 3 A RELATED PARTY COMPENSATES THE CEO OF THE ORGANIZATION, THE FOLLOWING IS HOW THEY DETERMINE THE COMPENSATION FOR THE CEO: THE BOARD'S EXECUTIVE COMMITTEE DETERMINES SALARY COMPENSATION FOR ARLINE PARKS, THE CEO. THE EXECUTIVE COMMITTEE USED THE CHARITY NAVIGATOR'S CEO COMPENSATION STUDY TO DETERMINE MS. PARK'S SALARY. THE APPROVAL WAS DOCUMENTED IN THE BOARD MINUTES OF THE MEETING AT 12/31/23. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION HOUSING DEVELOPMENT FUND CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS SHALL BE CHOSEN BY THE MEMBER OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBER OF THE CORPORATION MAY REMOVE A DIRECTOR PURSUANT TO NEW YORK LAW. ADDITIONALLY THE MEMBER OF THE CORPORATION MAY ALTER, AMEND OR REPEAL BYLAWS AND ADOPT NEW ONES AT ANY REGULAR OR SPECIAL MEETING. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF ON THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B DIEGO BEEKMAN LOCAL DEVELOPMENT 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. WHEN THE FORM 990 HAS BEEN PREPARED, AND HAS BEEN REVIEWED BY MANAGEMENT, IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR EXECUTIVE COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. B. THE CHAIRPERSON OF THE BOARD OR EXECUTIVE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER THE DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION, HDFC CAN OBTAIN REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. THE BOARD AND ITS AGENTS SHALL ENSURE THAT THERE ARE COMPETITIVE BIDS OR COMPARABLE VALUATIONS FOR ALL CONTRACTS. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION, HDFC'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. E. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE CHIEF EXECUTIVE OFFICER (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE VICE-CHAIR) WHO SHALL BRING THESE MATTERS TO THE BOARD. 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 ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S FULL BOARD ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF ITS INDEPENDENT AUDITOR. THE POLICY FOR SELECTION AND OVERSIGHT OF THE INDEPENDENT AUDITORS HAS NOT CHANGED SINCE LAST YEAR. DIEGO BEEKMAN MUTUAL HOUSING ASSOCIATION HDFC 298 CYPRESS AVENUE BRONX NY 10454 760709606 AFFORDABLE HOUSING 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