2025-01-14T10:30:13-06:00 2023-12-31 113266576 GRASSI & CO CPA'S PC 750 THIRD AVENUE 28TH FLOOR NEW YORK NY 10017 990 2023-01-01 112890302 THE LOCAL DEVELOPMENT CORPORATION OF CROWN HEIGHTS LOCA 7184678800 230 KINGSTON AVENUE BROOKLYN NY 11213 VAL HENRY PRESIDENT/CEO 7184678800 2025-01-13 1 1 JAIME RAPPS P01462990 2126616166 2025-01-13 2023 2024-10-15 13:58:12Z X VAL HENRY 230 KINGSTON AVENUE BROOKLYN NY 11213 3806619 0 X WWW.LDCCH.ORG X 1987 NY THE LOCAL DEVELOPMENT CORPORATION OF CROWN HEIGHTS, INC. ("LDCCH") WAS ORGANIZED IN NOVEMBER 1987 AS A NOT-FOR-PROFIT CHARITABLE CORPORATION WHOSE PURPOSE WAS TO RELIEVE AND REDUCE UNEMPLOYMENT, INTER ALIA, AND WAS LATER AMENDED TO INCLUDE PROVIDING HOUSING ACCOMMODATIONS TO PERSONS AND FAMILIES OF LOW INCOME, AS WELL AS OPERATING CERTAIN PROGRAMS TO SUPPORT THE SURROUNDING COMMUNITY. 12 12 5 12 0 0 208495 206833 1024000 700000 -25145 318128 62914 1150 1270264 1226111 0 0 0 0 482944 592748 0 0 0 649646 951293 1132590 1544041 137674 -317930 10056426 12860552 334616 3266471 9721810 9594081 X THE LOCAL DEVELOPMENT CORPORATION OF CROWN HEIGHTS, INC. ("LDCCH") WAS ORGANIZED IN NOVEMBER 1987 AS A NOT-FOR-PROFIT CHARITABLE CORPORATION WHOSE PURPOSE WAS TO RELIEVE AND REDUCE UNEMPLOYMENT, INTER ALIA, AND WAS LATER AMENDED TO INCLUDE PROVIDING HOUSING ACCOMMODATIONS TO PERSONS AND FAMILIES OF LOW INCOME, AS WELL AS OPERATING CERTAIN PROGRAMS TO SUPPORT THE SURROUNDING COMMUNITY. 0 0 179910 COMMUNITY AND SOCIAL SERVICES - OPERATED/FUNDED THROUGH NPP PROGRAM IS COMPLEMENTED BY A PROGRAM THAT TEACHES KEY FINANCIAL CONCEPTS, SUCH AS CREDIT, BUDGETING AND DEBT REDUCTION. THE ORGANIZATION PROVIDED TRAINING AND INFORMATIONAL SESSIONS AS WELL AS INDIVIDUAL ASSISTANCE TO RESIDENTS OF THE CROWN HEIGHTS AND CENTRAL BROOKLYN COMMUNITY. 700000 PROVIDING AFFORDABLE HOUSING SERVICES - THIS PROGRAM OFFERS ASSISTANCE IN HOUSING AND QUALITY OF LIFE ISSUES. OTHER SERVICES OFFERED UNDER THIS PROGRAM INCLUDE FIRST TIME HOME BUYER WORKSHOPS, HOUSING DEVELOPMENT PROGRAMS, APARTMENT RELOCATION, COUNSELING TO BUSINESS OWNERS AND INDIVIDUALS, SMALL BUSINESS DEVELOPMENT EDUCATION PROGRAMS, COLLABORATIVE PROJECTS WITH OTHER COMMUNITY ORGANIZATIONS, INFORMATION AND REFERRALS TO GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS FUNDED BY NYS DIVISION OF HOUSING AND COMMUNITY RENEWAL AND HOUSING MAINTENANCE WORKSHOPS. THE ORGANIZATION SPONSORS VARIOUS AFFORDABLE HOUSING THROUGH ITS CONTROL AND OWNERSHIP INTERESTS IN VARIOUS AFFORDABLE HOUSING PROJECTS IN THE CROWN HEIGHTS AREA. (CONT'D ON SCHEUDLE O)IN 2023, THIS PROGRAM PROVIDED 700 UNITS OF LOW-INCOME SENIOR OR AFFORDABLE HOUSING IN 7 DEVELOPMENTS CONSISTING OF 20 BUILDINGS IN THE CENTRAL BROOKLYN COMMUNITY. 179910 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0 1 7 0 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X VAL HENRY 7184678800 252 KINGSTON AVENUE BROOKLYN NY 11213 CHARLES E THOMAS CHAIRMAN 0.25 1.00 X X 0 0 0 ALECIA MASON VICE-CHAIR 0.25 1.00 X X 0 0 0 CORY SARGEANT TREASURER PRO TEM 0.25 1.00 X X 0 0 0 MICHAEL BAILEY ESQ MEMBER 0.25 1.00 X 0 0 0 SONIA CLARKE MEMBER 0.25 1.00 X 0 0 0 STEVE CROMITY SR MEMBER 0.25 1.00 X 0 0 0 ALLYSON FRANKLIN ESQ MEMBER 0.25 1.00 X 0 0 0 VON JOSEPH MEMBER 0.25 1.00 X 0 0 0 KENNETH LAIDLOW MEMBER 0.25 1.00 X 0 0 0 VICTORIA POWE-BITTLE MEMBER 0.25 1.00 X 0 0 0 KENNETH L PYLE SR MEMBER 0.25 1.00 X 0 0 0 MILDRED SMITH MEMBER 0.25 1.00 X 0 0 0 VAL HENRY PRESIDENT/CEO 35.00 5.00 X 183568 0 7170 CARMEN MARTINEZ OFFICE MANAGER/OUTREACH DIRECTOR 40.00 0.00 X 123553 0 1533 307121 0 8703 2 0 1 0 DV ARCHER 310 LENOX ROAD SUITE 4C BROOKLYN NY 11226 CONSULTING SERVICES 152461 1 206833 206833 MANAGEMENT FEES 531390 700000 700000 700000 227266 227266 2671370 2580508 90862 90862 90862 OTHER REVENUE 900099 1150 1150 1150 1226111 700000 0 319278 X 190738 38148 152590 322971 322971 40454 15678 24776 38585 14124 24461 243396 243396 148875 148875 47422 47422 173875 13588 160287 40387 10641 29746 63842 21874 41968 6860 6860 1548 1548 75904 75904 46058 46058 41051 9621 31430 DONATIONS 29431 29431 COMMUNITY EVENTS 23305 23305 MISCELLANEOUS 3986 3986 EQUIPMENT RENTAL 3884 3500 384 1469 1469 1544041 179910 1364131 0 3514036 322874 160874 2607491 85569 135376 499006 528946 494803 372190 89012 122613 4852332 5266143 855597 3877109 10056426 12860552 92074 89945 2972564 242542 203962 334616 3266471 X 9721810 9594081 9721810 9594081 10056426 12860552 -317930 190201 0 X X 0 1 X 1 0 X 73007 89947 162554 208495 206833 740836 1240900 1038000 1013000 1024000 700000 5015900 1313907 1127947 1175554 1232495 906833 5756736 0 0 0 5756736 157783 40283 43401 165249 197326 604042 157783 40283 43401 165249 197326 604042 750000 7421 62914 1150 821485 2221690 1168230 1226376 1460658 1105309 7182263 0.80150 0.83040 0.08410 0.05620 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 7,421. 2022 AMOUNT: $ 62,914. 2023 AMOUNT: $ 1,150. INSURANCE PROCEEDS - 2019 AMOUNT: $ 250,000. SETTLEMENT - 2019 AMOUNT: $ 500,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29725 29725 0 465078 342465 122613 122613 DUE FROM AFFILIATES 668130 OTHER ASSETS 13554 OPERATING LEASE RIGHT-OF-USE ASSETS 202153 INVESTMENT IN KINGS COUNTY SENIOR RESIDENCE 2993272 3877109 OPERATING LEASE LIABILITIES 203962 203962 X PART X, LINE 2: THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2020. X X 0 0 0 0 0 0 0 0 0 VAL HENRY PRESIDENT/CEO 183568 0 0 0 0 0 0 0 7170 0 190738 0 0 0 CLARITY SOFTWARE CONSULTING OWNER IS RELATED TO PRESIDENT/CEO 5209 IT SUPPORT 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD AND THE EXECUTIVE DIRECTOR OF THE ORGANIZATION REVIEW FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES ALL DIRECTORS TO COMPLETE DISCLOSURE FORMS ANNUALLY. THE TREASURER ENSURES THAT ALL FORMS ARE SUBMITTED AND REVIEWED WITH THE EXECUTIVE COMMITTEE FOR ANY THAT DISCLOSE ACTUAL OR POTENTIAL THREATS OF CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A BOARD OF DIRECTORS REVIEW AND APPROVE EXECUTIVE SALARIES, AS WELL AS REVIEW AND APPROVE ANY INCREASES TO MANAGEMENT SALARIES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. IN ADDITION, THE ORGANIZATION SUBMITS ITS NYS CHAR500 REPORT TO THE NEW YORK STATE OFFICE OF ATTORNEY GENERAL. THE CHAR500 REPORT AND AUDITED FINANCIAL STATEMENTS ARE ON THE CHARITIES BUREAU WEBSITE. FORM 990, PART IX, LINE 11G CONSULTANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 160,036. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 160,036. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 13,588. MANAGEMENT AND GENERAL EXPENSES 251. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,839. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FORM 990, ITEM B THE FORM 990 WAS AMENDED FROM WHAT WAS PREVIOUSLY FILED TO CORRECT WHAT WAS REPORTED TO AGREE TO THE AUDITED FINANCIAL STATEMENTS. THE FOLLOWING PAGES IN THE 990 AND SCHEDULES WERE IMPACTED: I. PART I LINES 17,18, 19, 20, 21 AND 22 II. PART IV LINE 12B III. PART IX LINES 20 AND 24C IV. PART X LINES 15, 16, 27, 32 AND 33 V. PART XI LINES 2, 3 AND 10 VI PART XIII LINES 2B AND 2C VII. SCH D PART IX LCDCCH IM LLC 252 KINGSTON AVENUE BROOKLYN NY 11213 932731208 OPERATING AND MANAGING AFFORDABLE HOUSING NY 2993272 THE LDC OF CROWN HEIGHTS CROWN HEIGHTS RESIDENCE FOR ADULTS HDFC 230 KINGSTON AVENUE BROOKLYN NY 11213 113018126 LOW INCOME HOUSING NY 501(C)(3) LINE 7 THE LDC OF CROWN HEIGHTS 1 ST JOHN'S HOUSING DEVELOPMENT FUND CORPORATION 230 KINGSTON AVENUE BROOKLYN NY 11213 900732459 LOW INCOME HOUSING NY 501(C)(3) LINE 7 THE LDC OF CROWN HEIGHTS 1 GREGENE HOUSING DEVELOPMENT FUND CORP 230 KINGSTON AVENUE BROOKLYN NY 11213 800818949 LOW INCOME HOUSING NY 501(C)(3) LINE 7 THE LDC OF CROWN HEIGHTS 1 VANMEW HOUSING DEVELOPMENT FUND CORP 230 KINGSTON AVENUE BROOKLYN NY 11213 800819115 LOW INCOME HOUSING NY 501(C)(3) LINE 7 THE LDC OF CROWN HEIGHTS 1 KINGSTON AVENUE DEVELOPMENT LLC 230 KINGSTON AVENUE BROOKLYN NY 11213 203272176 REAL ESTATE NY KINGSTON APT INC RELATED -25 1709 0 0 0.00010 ALBANY AVENUE SENIOR HOUSING CORP 252 KINGSTON AVENUE BROOKLYN NY 11213 208990021 REAL ESTATE NY LDC OF CROWN HEIGHT C 707196 40493 1.00000 1 KINGSTON APARTMENTS INC 252 KINGSTON AVENUE BROOKLYN NY 11213 204736697 REAL ESTATE NY LDC OF CROWN HEIGHT C 8840 1.00000 1 ST JOHN'S SENIOR HOUSING CORP 252 KINGSTON AVENUE BROOKLYN NY 11213 208989484 REAL ESTATE NY LDC OF CROWN HEIGHT C 147391 115882 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 1 0 ALBANY AVENUE SENIOR HOUSING CORP L 700000 COST