2025-03-17T17:37:02-04:00 2024-04-30 133747593 VARGAS & RIVERA CPA'S LLP 586 ROUTE 304 NEW CITY NY 10956 990 2023-05-01 133275044 WALKER STREET CHUNG PAK LOCAL DEVELOPMENT CORPORATION WALK 2126258833 96 BAXTER STREET 13TH FLOOR NEW YORK NY 10013 SHERMAN ENG ACTING CHAIR & PRES 2126258833 2025-03-17 true false LUIS C RIVERA P00645103 8456383113 2025-03-17 2023 2025-03-06 01:10:19Z SHERMAN ENG 96 BAXTER STREET NEW YORK NY 10012 2021618 false X WWW.CHUNGPAKLDC.ORG X 1985 NY WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION (THE "CORPORATION") WAS INCORPORATED IN THE STATE OF NEW YORK ON MARCH 28, 1985 UNDER SECTION 1411 OF THE NOT-FOR-PROFIT CORPORATION LAW. WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION WAS ORGANIZED TO IMPROVE THE QUALITY OF LIFE OF THE RESIDENTS OF COMMUNITY BOARDS NO. 1, 2, AND 3 BY DEVELOPING, OPERATING AND MAINTAINING COMMERCIAL FACILITIES. 3 3 3 0 0 1565022 1881187 5795 71119 51800 69312 1622617 2021618 0 0 365161 496797 0 0 1291276 1375016 1656437 1871813 -33820 149805 10446190 12255893 4760853 4666056 5685337 7589837 X WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION (THE "CORPORATION") WAS INCORPORATED IN THE STATE OF NEW YORK ON MARCH 28, 1985 UNDER SECTION 1411 OF THE NOT-FOR-PROFIT CORPORATION LAW. WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION WAS ORGANIZED TO IMPROVE THE QUALITY OF LIFE OF THE RESIDENTS OF COMMUNITY BOARDS NO. 1, 2, AND 3 BY DEVELOPING, OPERATING AND MAINTAINING COMMERCIAL FACILITIES. false false 1424051 THE CORPORATION IS A COMMERCIAL CENTER THAT PROVIDES MUCH NEEDED SPACE FOR COMMUNITY FACILITIES FOR THE INDIVIDUALS RESIDING WITH MANHATTAN COMMUNITY BOARDS NO. 1, 2 AND 3, INCLUDING MAJOR COMPREHENSIVE HEALTH CLINIC AND A CHILDCARE CENTER. IN ADDITION, THE BUILDING HOUSES COMMUNITY CENTRIC RETAIL STORES, ALL OF WHICH OFFER ESSENTIAL SERVICES TO THE WORKING FAMILIES LIVING IN THE AREA AND WHICH GREATLY IMPROVE THEIR QUALITY OF LIFE. 1424051 true false false false false false false false true false true false false true 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 10 0 false 3 true 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 true false false NY X X JEFFREY P GOLDSTEIN MMS GROUP 2126258833 96 BAXTER STREET NEW YORK NY 10013 SHERMAN ENG ACTING CHAIR 35.00 10.00 X X 215384 0 0 WING MA SECRETARY 0.50 1.00 X 0 0 0 PO-LING NG TREASURER 0.50 1.00 X 0 0 0 215384 1 false true false GOOD-WILL MECHANICAL CORP 1000 GRAND STREET BROOKLYN NY 11211 REPAIRS 275500 FIRECOM INC 39-27 59TH STREET WOODSIDE NY 11377 REPAIRS 127864 2 RENTAL REVENUE 531120 1881187 1881187 1881187 71119 71119 OTHER TENANT CHARGES 900099 69312 69312 69312 2021618 1881187 140431 293769 220327 73442 157203 117902 39301 15865 11899 3966 29960 22470 7490 27422 27422 151375 76140 75235 20915 20915 58975 37150 21825 3600 3600 31286 13788 17498 1170 1170 146015 146015 7017 7017 46479 46479 284389 284389 BAD DEBT EXPENSE 348688 348688 REPAIRS AND MAINTENANCE 137096 137096 OTHER OPERATING EXPENSES 62089 62089 CONTRIBUTIONS 48500 48500 1871813 1424051 447762 0 328712 376958 1631345 1983830 1237378 652255 97541 113707 8944170 7660769 1287692 1283401 23984 16860 5839538 7828882 10446190 12255893 296392 224916 790 12056 353038 318451 4110633 4110633 4760853 4666056 X 5685337 7589837 5685337 7589837 10446190 12255893 X 149805 1754695 X X false true X true false X 2659839 2407953 1938917 1565022 1881187 10452918 69312 69312 2659839 2407953 1938917 1565022 1950499 10522230 544893 1200576 941026 774121 943618 4404234 544893 1200576 941026 774121 943618 4404234 6117996 15740 7135 3138 5795 71119 102927 15740 7135 3138 5795 71119 102927 31694 111824 212849 51800 69312 477479 2707273 2526912 2154904 1622617 2090930 11102636 0.55100 0.63140 0.01000 0.01000 X PART III, LINE 12 OTHER INCOME 31,694 OTHER TENANT CHARGES 445,785 false true X 8533290 7635409 897881 274380 25360 249020 136500 136500 1283401 DEFERRED RENT RECEIVABLE 4844456 DUE FROM EVERLASTING PINE HDFC 2370203 TENANT SECURITY DEPOSITS 425317 OTHER SECURITY DEPOSITS 188906 7828882 LEGAL SETTLEMENT PAYABLE 4110633 4110633 X 2021618 2021618 2021618 1871813 1871813 1871813 SCHEDULE D, PAGE 2, PART IV, LINE 2B FUNDS FOR THE PERSONAL USE OF RESIDENTS AND FUNDS RECEIVED AS SECURITY DEPOSITS FOR SERVICES ARE HELD IN TRUST FOR THEM BY THE CORPORATION. THESE FUNDS ARE SEGREGATED IN A SEPARATE INTEREST-BEARING ACCOUNT FOR THE TENANTS' BENEFIT AND ARE NOT AVAILABLE FOR OTHER USES. SCHEDULE D, PAGE 3, PART X THE CORPORATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE PERIODS PRIOR TO APRIL 30, 2021. false false false false false false false false false SHERMAN ENG ACTING CHAIR & PRES 215384 215384 FORM 990 - ORGANIZATION'S MISSION WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION (THE "CORPORATION") WAS INCORPORATED IN THE STATE OF NEW YORK ON MARCH 28, 1985 UNDER SECTION 1411 OF THE NOT-FOR-PROFIT CORPORATION LAW. WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION WAS ORGANIZED TO IMPROVE THE QUALITY OF LIFE OF THE RESIDENTS OF COMMUNITY BOARDS NO. 1, 2, AND 3 BY DEVELOPING, OPERATING AND MAINTAINING COMMERCIAL FACILITIES. FORM 990, PAGE 6, PART VI, LINE 3 THE CORPORATION IS MANAGED BY T.U.C. MANAGEMENT COMPANY, INC. (THE "COMPANY"). THE COMPANY IS PAID FOR ADMINISTRATION AND BACK OFFICE MANAGEMENT SERVICES. FOR THE YEAR ENDED APRIL 30, 2024, MANAGEMENT FEES TOTALED 27,422. NONE OF THE ORGANIZATION'S OFFICERS OR DIRECTORS LISTED IN PART VII WERE COMPENSATED BY THE MANAGEMENT COMPANY. FORM 990, PAGE 6, PART VI, LINE 7B A DIRECTOR CAN BE REMOVED FROM OFFICE BY AN ORDER FROM HUD OR THE NYC COMMISSIONER OF DEPARTMENT OF CITYWIDE ADMINISTRATIVE SERVICES (DCAS). FORM 990, PAGE 6, PART VI, LINE 11B THE CORPORATION 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. ONCE THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE DIRECTOR AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, THE DIRECTOR WILL SEND A COPY TO EACH BOARD MEMBER. THE DIRECTOR CONFIRMS IT RECEIPT WITH EACH MEMBER. ANY COMMENTS ARE THEN SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. ONCE THE COMMENTS ARE ADDRESSED, THE RETURN IS THEN FINALIZED AND APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C EACH DIRECTOR AND OFFICER OF THE CORPORATION, AS WELL AS NOMINEES FOR ELECTION TO DIRECTOR (PRIOR TO HIS OR HER INITIAL ELECTION), MUST SUBMIT TO THE SECRETARY OF THE BOARD, AT LEAST ONCE PER YEAR (AND UPDATED AS APPROPRIATE), A COMPLETED CONFLICT-OF-INTEREST QUESTIONNAIRE. THE SECRETARY SHALL PROVIDE COPIES OF ALL COMPLETED STATEMENTS TO THE CHAIR OF THE AUDIT COMMITTEE/BOARD FOR THEIR REVIEW. ADDITIONALLY, ANY INTERESTED PERSON WITH A POTENTIAL OR ACTUAL CONFLICT OF INTEREST MUST DISCLOSE ALL MATERIAL FACTS RELATING TO THE PROPOSED TRANSACTION OR OTHER ARRANGEMENT AS THEY OCCUR. THE AUDIT COMMITTEE/BOARD WILL REVIEW AND DETERMINE WHETHER TO APPROVE OR RATIFY THE PROPOSED TRANSACTION OR ARRANGEMENT AND MAY ONLY APPROVE THE UNDERLYING MATTER IF IT DETERMINES THAT, UNDER THE TERMS AND WITHIN THE CIRCUMSTANCES AND CONDITIONS PRESENTED, IT IS FAIR, REASONABLE, AND IN THE BEST INTERESTS OF THE CORPORATION. THE INTERESTED PERSON SHALL ONLY BE INFORMED OF THE FINAL DECISION AND NOT OF PARTICULAR DIRECTORS' POSITIONS OR HOW THEY VOTED. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION FOR THE CORPORATION'S EXECUTIVE DIRECTOR WAS ESTABLISHED AT THE TIME OF HIRING. IT REVIEWED ANNUALLY FOR REASONABLNESS. FORM 990, PAGE 6, PART VI, LINE 19 THE CORPORATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9 NET ASSET ADJUSTMENT 1,754,695 NET ASSET ADJUSTMENT - DURING THE YEAR ENDED APRIL 30, 2024, MANAGEMENT OF THE CORPORATION IDENTIFIED SPECIFIC DEFERRED COMMERCIAL RENTAL INCOME LEASES THAT WERE NOT PREVIOUSLY RECOGNIZED AS A COMPONENT OF THE STRAIGHT- LINE RENTAL INCOME REVENUE RECOGNITION IN THE AMOUNT OF 1,704,695. IN ADDIITON, AN INCORRECT INVOICE ACCRUAL FOR 50,000 WAS NOTED AND CORRECTED. FORM 990, PAGE 12, PART XII, LINE 2C THE CORPORATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. EVERLASTING PINE HOUSING DEVEL FUND COMPANY INC 96 BAXTER STREET NEW YORK NY 10013 133218852 HOUSING NY 501 C3 10 N/A false false false false false false false false false false false false false false true true true true false false