2025-10-09T13:54:33-04:00 2024-12-31 133952752 DESANTIS KIEFER SHALL & SARCONE LLP 1675 RICHMOND ROAD STATEN ISLAND NY 103042317 990 2024-01-01 113270117 50TH STREET HOUSING DEVELOPMENT FUND CORPORATION 50TH 7182372017 621 DEGRAW STREET BROOKLYN NY 11217 ANDREW HORROW DIRECTOR OF FINANCE 7182372017 2025-10-09 true false NICOLE M BULCROFT CPA P01463209 7183512233 2025-10-09 2024 2025-03-06 01:10:19Z MICHELLE DE LA UZ 621 DEGRAW STREET BROOKLYN NY 11217 483958 false X FIFTHAVE.ORG X 1995 NY THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE TWO APARTMENT BUILDINGS AND PROVIDE SOCIAL SERVICES TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA. 3 3 0 0 0 467584 483695 51 3 6915 260 474550 483958 0 0 0 0 0 522654 492995 522654 492995 -48104 -9037 6352055 9626182 7125224 10443585 -773169 -817403 THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE TWO APARTMENT BUILDINGS AND PROVIDE SOCIAL SERVICES TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA. false false 384943 483695 THE ORGANIZATION'S APARTMENT BUILDINGS HAVE A CAPACITY OF 48 APARTMENTS WHICH WERE APPROXIMATELY 80% OCCUPIED DURING THE YEAR. 384943 true false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 13 0 true 0 false false false false false false false false X 3 3 false true false false false false true true true false false true true true true true true false false false NY X ANDREW HORROW 7182372017 621 DEGRAW STREET BROOKLYN NY 11217 MICHELLE DE LA UZ SECRETARY 0.50 34.50 X X 0 278790 13130 DANY CUNINGHAM PRESIDENT 1.00 0.00 X X 0 0 0 JESSICA YEAGER TREASURER 0.50 0.00 X X 0 0 0 278790 13130 false true false RENTAL INCOME 531110 483695 483695 483695 3 3 REIMBURSEMENTS 531110 260 260 260 483958 483955 3 34231 34231 14198 14198 9000 9000 6961 6961 7221 7221 130484 129908 576 462 462 85198 85198 30759 30759 MAINTENANCE STAFF REIMBUR 68442 68442 REPAIRS & MAINTENANCE 66229 66229 SOCIAL SERVICE FEES 24000 24000 JANITORIAL SUPPLIES 7447 7447 8363 3719 4644 492995 384943 108052 0 562722 232909 57140 37509 95454 64173 60014 11420090 2239425 5630820 9180665 56831 6352055 9626182 66876 162051 10775 11998 6622248 9609620 425325 659916 7125224 10443585 X -773169 -817403 -773169 -817403 6352055 9626182 X -9037 -35197 X false true X true false X 515446 503777 467717 467584 483955 2438479 515446 503777 467717 467584 483955 2438479 2438479 78 49 48 51 3 229 78 49 48 51 3 229 1088 6915 260 8263 515524 503826 468853 474550 484218 2446971 0.99650 0.99640 0.00000 0.00000 X PART III, LINE 12 REIMBURSEMENTS 8,263 281400 281400 1125600 1125600 10013090 1113825 8899265 9180665 CONSTRUCTION COSTS PAYABLE 606741 CONTRACT LIABILITIES 35197 TENANT SECURITY PAYABLE 17978 659916 X 483958 483958 483958 492995 492995 492995 SCHEDULE D, PAGE 3, PART X ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS DETERMINED THAT AS OF DECEMBER 31, 2024 THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GENERALLY, THE LAST THREE YEARS OF THE CORPORATION CAN BE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, BUT MANAGEMENT DOES NOT BELIEVE AN EXAMINATION WOULD HAVE A MATERIAL ADVERSE EFFECT ON THE CORPORATION. false false false false false false false false false MICHELLE DE LA UZ SECRETARY 278790 11580 1550 291920 FORM 990, PAGE 6, PART VI, LINE 3 BOOKKEEPING, ACCOUNTING, MANAGEMENT REPORTING, COORDINATE EFFORTS WITH THE OUTSIDE AUDITOR, MAINTAIN THE COMMON ELEMENTS OF THE PROPERTY, MANAGE TENANT ISSUES AND OTHER PROJECTS ON AN AS NEEDED BASIS. FORM 990, PAGE 6, PART VI, LINE 7B MAJOR DECISIONS ARE DISCUSSED AND VOTED UPON BY BOARD MEMBERS. AT TIMES, THE BOARD MEMBERS SEEK THE OPINIONS OF THE MANAGEMENT COMPANY, LAWYERS, OUTSIDE AUDITOR AND OTHERS IN THE DECISION MAKING PROCESS. FORM 990, PAGE 6, PART VI, LINE 11B THE OUTSIDE AUDITOR PREPARES A DRAFT SET OF TAX RETURNS TO BE REVIEWED BY THE MANAGEMENT COMPANY. CORRECTIONS & EDITS ARE DISCUSSED AND MADE, IF NECESSARY. AN OFFICER OF THE ORGANIZATION REVIEWS THE TAX RETURNS AS WELL. THE OUTSIDE AUDITOR PREPARES A FINAL SET OF TAX RETURNS FOR SIGNATURE. THE MANAGEMENT COMPANY MAILS OUT THE SIGNED TAX RETURNS TO THE APPROPRIATE GOVERNMENT AGENCIES. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION HAD ADOPTED THE CONFLICT OF INTEREST POLICY AS USED BY THE SPONSOR/MANAGER OF THE ORGANIZATION WHICH IS ALSO A 501(C)(3). THE DIRECTOR OF FINANCE & IT OF THE MANAGEMENT COMPANY IS RESPONSIBLE FOR FINANCIAL RELATIONSHIPS BETWEEN THE ORGANIZATION AND OTHER ENTITIES. IF A POTENTIAL CONFLICT OF INTEREST ISSUE ARISES, THE DIRECTOR OF FINANCE & IT FOR FAC ADDRESSES THIS MATTER WITH THE DIRECTOR OF PROPERTY MANAGEMENT FOR RESOLUTION. AT TIMES, THE MANAGEMENT COMPANY CONSULTS WITH THE OUTSIDE AUDITOR ABOUT POTENTIAL CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 19 UPON REQUEST, THE ORGANIZATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS, POLICIES AND AUDITED FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9 PRIOR PERIOD ADJUSTMENT TO RECORD FOR CONTRACT LIABILITIES. 130 29TH STREET HOUSING DEVELOPMENT 621 DEGRAW STREET BROOKLYN NY 11217 204732803 LOW INCOME NY 501C4 FIFTH AVEN false 50TH STREET HOUSING DEVELOPMENT FUN 621 DEGRAW STREET BROOKLYN NY 11217 113270117 LOW INCOME NY 501C3 9 FIFTH AVEN false 573 WARREN STREET HOUSING DEVELOPME 621 DEGRAW STREET BROOKLYN NY 11217 113143585 LOW INCOME NY 501C3 7 FIFTH AVEN false 575 FIFTH AVENUE HOUSING DEVELOPMEN 621 DEGRAW STREET BROOKLYN NY 11217 208954587 LOW INCOME NY 501C4 FIFTH AVEN false 588 PARK PLACE HOUSING DEVELOPMENT 621 DEGRAW STREET BROOKLYN NY 11217 450481177 LOW INCOME NY 501C3 9 FIFTH AVEN false FAC ADVANCE HOUSING DEVELOPMENT FUN 621 DEGRAW STREET BROOKLYN NY 11217 264642733 LOW INCOME NY 501C4 FIFTH AVEN false FAC CENTER LOCAL DEVELOPMENT CORPOR 621 DEGRAW STREET BROOKLYN NY 11217 202849260 LOW INCOME NY 501C3 9 FIFTH AVEN false FAC HOMEOWNERSHIP HOUSING DEVELOPME 621 DEGRAW STREET BROOKLYN NY 11217 113440267 LOW INCOME NY 501C3 9 FIFTH AVEN false FAC RENAISSANCE HDFC 621 DEGRAW STREET BROOKLYN NY 11217 811004692 LOW INCOME NY 501C4 FIFTH AVEN false FAC PRESERVATION HOUSING DEVELOPMEN 621 DEGRAW STREET BROOKLYN NY 11217 470199280 LOW INCOME NY 501C4 FIFTH AVEN false FAC RESTORE HOUSING DEVELOPMENT FUN 621 DEGRAW STREET BROOKLYN NY 11217 202896988 LOW INCOME NY 501C4 FIFTH AVEN false FIFTH AVENUE COMMITTEE INC 621 DEGRAW STREET BROOKLYN NY 11217 112475743 COMMUNITY NY 501C3 7 FIFTH AVEN false LEAP INC DBA BROOKLYN WORKFORCE I 621 DEGRAW STREET BROOKLYN NY 11217 113111694 WORKFORCE NY 501C3 7 FIFTH AVEN false NEIGHBORS HELPING NEIGHBORS 621 DEGRAW STREET BROOKLYN NY 11217 113059958 TENANT AND NY 501C3 7 FIFTH AVEN false FAC HOUSING DEVELOPMENT FUND CORPOR 621 DEGRAW STREET BROOKLYN NY 11217 112569339 LOW INCOME NY 501C4 FIFTH AVEN false NORTHEASTERN CONFERENCE HOUSE ANNEX 621 DEGRAW STREET BROOKLYN NY 11217 825247722 LOW INCOME NY 501C4 FIFTH AVEN false FAC SUNSET PARK HOUSING DEVELOPMENT 621 DEGRAW STREET BROOKLYN NY 11217 472458264 LOW INCOME NY 501C4 FIFTH AVEN false FAC 6309 FOURTH AVENUE HDFC 621 DEGRAW STREET BROOKLYN NY 11217 812090217 LOW INCOME NY 501C4 FIFTH AVEN false FAC SUNSET PARK LIMITED PARTNERSHIP 621 DEGRAW STREET BROOKLYN NY 11217 471960755 LOW INCOME NY FAC SUNSET RELATED false false 551 WARREN STREET 1 LIMITED PARTNER 621 DEGRAW STREET BROOKLYN NY 11217 113432257 LOW INCOME NY 551 WARREN RELATED false false SUPPORTIVE SLOPE LIMITED PARTNERSHI 621 DEGRAW STREET BROOKLYN NY 11217 261565858 LOW INCOME NY 575 FIFTH RELATED false false FAC RENAISSANCE LIMITED PARTNERSHIP 621 DEGRAW STREET BROOKLYN NY 11217 475052123 LOW INCOME NY FAC RENAIS RELATED false false FAC BROWNSVILLE APARTMENTS LP 621 DEGRAW STREET BROOKLYN NY 11217 833327892 LOW INCOME NY FAC BROWNS RELATED false false FAC 6309 FOURTH AVENUE MM LLC 621 DEGRAW STREET BROOKLYN NY 11217 843310446 LOW INCOME NY FAC 6309 F RELATED false false FAC 6309 FOURTH AVENUE LP 621 DEGRAW STREET BROOKLYN NY 11217 475475760 LOW INCOME NY FAC 6309 F RELATED false false ATLANTIC TERRACE 12 LLC 621 DEGRAW STREET BROOKLYN NY 11217 203963981 LOW INCOME NY FAC ATLANT RELATED false false NORTHEASTERN TOWERS ANNEX DEVELOPER 621 DEGRAW STREET BROOKLYN NY 11217 825211062 LOW INCOME NY FAC NORTHE RELATED false false NORTHEASTERN TOWERS ANNEX GP 621 DEGRAW STREET BROOKLYN NY 11217 813430274 LOW INCOME NY NORTHEASTE RELATED false false NORTHEASTERN TOWERS ANNEX LP 621 DEGRAW STREET BROOKLYN NY 11217 814673705 LOW INCOME NY NORTHEASTE RELATED false false NORTHEASTERN TOWERS ANNEX MANAGER L 621 DEGRAW STREET BROOKLYN NY 11217 320565348 LOW INCOME NY FAC NORTHE RELATED false false 551 WARREN STREET 1 INC 621 DEGRAW STREET BROOKLYN NY 11217 113432252 LOW INCOME NY FIFTH AVEN C CORP false 575 FIFTH AVENUE INC 621 DEGRAW STREET BROOKLYN NY 11217 261565714 LOW INCOME NY FIFTH AVEN C CORP false FAC SUNSET PARK HOUSING DEVELOPMENT 621 DEGRAW STREET BROOKLYN NY 11217 472458264 LOW INCOME NY FIFTH AVEN C CORP false FAC RENAISSANCE GP 621 DEGRAW STREET BROOKLYN NY 11217 475036133 LOW INCOME NY FIFTH AVEN C CORP false FAC SUNSET PARK GP 621 DEGRAW STREET BROOKLYN NY 11217 471960681 LOW INCOME NY FIFTH AVEN C CORP false FAC 6309 FOURTH AVENUE HDFC 621 DEGRAW STREET BROOKLYN NY 11217 812090217 LOW INCOME NY FIFTH AVEN C CORP false FAC FULTON STREET HOUSING DEVELOPME 621 DEGRAW STREET BROOKLYN NY 11217 813273164 LOW INCOME NY FIFTH AVEN C CORP false FAC 6309 FOURTH AVENUE GP INC 621 DEGRAW STREET BROOKLYN NY 11217 475480222 LOW INCOME NY FIFTH AVEN C CORP false FAC BROWNSVILLE APARTMENTS GP 621 DEGRAW STREET BROOKLYN NY 11217 833327665 LOW INCOME NY FIFTH AVEN C CORP false FAC RED HOOK HOMES INC 621 DEGRAW STREET BROOKLYN NY 11217 202827495 LOW INCOME NY FIFTH AVEN C CORP false FAC ATLANTIC TERRACE INC 621 DEGRAW STREET BROOKLYN NY 11217 203964179 LOW INCOME NY FIFTH AVEN C CORP false FAC CLUSTER HDFC 621 DEGRAW STREET BROOKLYN NY 11217 833785295 LOW INCOME NY FIFTH AVEN C CORP false false false false false false false false false false false false false true false false false false false false FIFTH AVENUE COMMITTEE INC M 218162 ACTUAL