2025-08-14T21:29:32-04:00 2024-09-30 133747593 VARGAS & RIVERA CPA'S LLP 586 ROUTE 304 NEW CITY NY 10956 990 2023-10-01 133189285 METRO NORTH GARDENS HOUSING DEVELOPMENT FUND CORPORATION METR 7189936798 C/O FOXY MGMT / 500 TRINITY AVENUE BRONX NY 10455 RONALD MONTESSI PRESIDENT 7189936798 2025-08-13 true false LUIS C RIVERA P00645103 8456383113 2025-08-13 2023 2025-03-06 01:10:19Z RONALD MONTESSI 1137385 false X X 1983 NY METRO NORTH GARDENS HOUSING DEVELOPMENT FUND CORPORATION (THE "PROJECT"), A 48 UNIT APARTMENT PROJECT LOCATED IN NEW YORK, NEW YORK, WAS FORMED AS A C CORPORATION IN SEPTEMBER 1983 TO PROVIDE HOUSING FOR LOW INCOME OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD, AS ITS ONLY MAJOR PROGRAM. 4 4 0 0 812168 1024747 310936 9476 14090 125 191 1034348 1137385 0 0 0 0 0 1060129 1266597 1060129 1266597 -25781 -129212 6848658 6653926 6360819 6295299 487839 358627 X METRO NORTH GARDENS HOUSING DEVELOPMENT FUND CORPORATION (THE "PROJECT"), A 48 UNIT APARTMENT PROJECT LOCATED IN NEW YORK, NEW YORK, WAS FORMED AS A C CORPORATION IN SEPTEMBER 1983 TO PROVIDE HOUSING FOR LOW INCOME OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD, AS ITS ONLY MAJOR PROGRAM. false false 964371 LOW INCOME HOUSING 212776 DEPRECIATION 212776 1177147 true true false false false false false false false false true false false true true false 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 false 0 false false false false false false false false X 4 4 false false false false false false false true true false false true false false false false false false NY FOXY MANAGEMENT LTD 7189936737 500 TRINITY AVENUE SUITE 1B 500 TRINISTY AVENUE SUITE 1B BRONX NY 10455 X PAULINE ABBOT SECRETARY X 0 0 0 JAMES LUDVIG MEMBER X 0 0 0 RONALD MONTESSI PRESIDENT X 0 0 0 JOSEPHINE ROSARIO MEMBER X 0 0 0 false false false 812168 812168 RENTAL INCOME - TENANTS 531110 310936 310936 310936 14090 14090 OTHER REVENUE 191 191 191 1137385 311127 14090 X 42584 42584 5477 5477 14000 14000 195733 162901 32832 34 34 223001 223001 295137 295137 224531 224531 77290 77290 REPAIRS AND MAINTENANCES 61507 61507 BAD DEBT 56614 56614 VACANCY 39611 39611 MANAGEMENT CONSULTANTS 14074 14074 17004 17004 1266597 1177147 89450 0 121128 130740 88917 48895 106041 88315 6961779 1762852 5411703 5198927 295838 284083 825031 902966 6848658 6653926 57692 64758 6055143 5960131 247984 270410 6360819 6295299 X 487839 358627 487839 358627 6848658 6653926 -129212 X false true true true true X 812168 812168 979137 966746 962578 1024872 311127 4244460 979137 966746 962578 1024872 1123295 5056628 5056628 17237 3042 1402 9476 14090 45247 17237 3042 1402 9476 14090 45247 996374 969788 963980 1034348 1137385 5101875 0.99110 0.99360 0.01000 0.01000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6833811 1644648 5189163 26750 16986 9764 50626 50626 50592 50592 5198927 RESIDUAL RECEIPTS 464390 REPLACEMENT RESERVE 272057 ESCROW DEPOSITS 149179 TENANT SECURITY DEPOSIT 16850 UTILITY DEPOSIT 490 902966 ACCRUED MORTGAGE INTEREST 257003 TENANT SECURITY DEPOSITS PAYABLE 13407 270410 1137385 1137385 1137385 1266597 1266597 1266597 FORM 990 - ORGANIZATION'S MISSION METRO NORTH GARDENS HOUSING DEVELOPMENT FUND CORPORATION (THE "PROJECT"), A 48 UNIT APARTMENT PROJECT LOCATED IN NEW YORK, NEW YORK, WAS FORMED AS A C CORPORATION IN SEPTEMBER 1983 TO PROVIDE HOUSING FOR LOW INCOME OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD, AS ITS ONLY MAJOR PROGRAM. FORM 990, PAGE 2, PART III, LINE 4D DEPRECIATION FORM 990, PAGE 6, PART VI, LINE 11B THE ORGANIZATION 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, REVIEWED BY THE MANAGEMENT AGENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PRESENTED TO THE BOARD FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PAGE 6, PART VI, LINE 19 UPON REQUEST FORM 990, PART IX, LINE 11G CONTRACTED ADMIN AND OPER SVC 162,901 32,832 0