Nonprofit · EIN 13-3846708
BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION
Tax-exempt · NEW YORK, NY 10018
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,287,949 | $2,067,217 | $8,220,732 | $125,161,803 | $19,082,046 | $106,079,757 |
| December 31, 2023 | 990 | $4,846,250 | $2,019,815 | $2,826,435 | $115,715,861 | $17,856,836 | $97,859,025 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $10,581,010
- Investment income
- -$851,060
- Net rental income
- $330,593
- Net gain from sales of assets
- -$1,022,184
- Other revenue
- $557,999
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $442,055
- Salaries, compensation and benefits (total)
- $564,895
- Professional fundraising fees
- $0
- Legal fees
- $2,918
- Accounting fees
- $940
- Occupancy
- $130,258
- Program services (functional)
- $1,981,136
- Management and general (functional)
- $86,081
Balance sheet and other
- Total assets, start of year
- $115,715,861
- Total assets, end of year
- $125,161,803
- Total liabilities, end of year
- $19,082,046
- Net assets, end of year
- $106,079,757
- Land, buildings and equipment
- $1,223,171
- Net assets without donor restrictions
- $106,079,757
- Gross receipts
- $11,310,133
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1995
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| BRENDA E ROSEN | PRESIDENT & CEO Trustee or director, Officer | 5.92 | $0 | $641,542 | $14,471 |
| KEVIN MORAN | CFO Officer | 5.92 | $0 | $365,675 | $50,231 |
| DAVID BEER | VICE PRESIDENT Trustee or director, Officer | 8.43 | $0 | $333,921 | $50,111 |
| JUDITH ROSENFELD | SECRETARY Trustee or director, Officer | 8.87 | $0 | $142,608 | $18,423 |
| BENJAMIN STACKS | TREASURER Trustee or director, Officer | 0.06 | $0 | $0 | $0 |
| NICHOLAS TSANG | DIRECTOR Trustee or director | 0.21 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| BRENDA E ROSEN | PRESIDENT & CEO Trustee or director, Officer | 5.26 | $0 | $629,604 | $13,827 |
| KEVIN MORAN | CFO Officer | 5.26 | $0 | $353,041 | $47,221 |
| DAVID BEER | VICE PRESIDENT Trustee or director, Officer | 8.16 | $0 | $336,867 | $47,221 |
| JUDITH ROSENFELD | SECRETARY Trustee or director, Officer | 8.45 | $0 | $136,281 | $17,273 |
| BENJAMIN STACKS | TREASURER Trustee or director, Officer | 0.08 | $0 | $0 | $0 |
| NICHOLAS TSANG | DIRECTOR Trustee or director | 0.16 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 505 EIGHTH AVENUE 5TH FLOOR, NEW YORK, NY 10018-6505
- In care of
- % KEVIN MORAN
- Principal officer (990 for 2024)
- BRENDA ROSEN, 505 EIGHTH AVE 5TH FL, NEW YORK, NY 10018
- Signed the 990
- KEVIN MORAN, CFO
- Phone
- (212) 389-9300
- Website
- WWW.BREAKINGGROUND.ORG
- Return prepared by
- GRANT THORNTON ADVISORS LLC
Mission
SEE SCHEDULE O
Program accomplishments
- BREAKING GROUND II HDFC'S ("BG II") PRIMARY EXEMPT PURPOSE IS TO OWN, REHABILITATE, MANAGE, MAINTAIN, AND OPERATE HOUSING AND SUPPORTIVE SERVICES FOR LOW INCOME AND FORMERLY HOMELESS TENANTS. BG II'S PRIMARY RESIDENCE IS THE PRINCE GEORGE IN MANHATTAN. BUILT IN 1904, THE PRINCE GEORGE WAS ONCE ONE OF NEW YORK CITY'S PREMIER HOTELS. AFTER MANY YEARS OF DECLINE AND NEGLECT, IT WAS REHABILITATED BY BREAKING GROUND AND REOPENED IN 1999 TO PROVIDE 416 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME AND FORMERLY HOMELESS ADULTS AND PERSONS LIVING WITH HIV/AIDS. THE PRINCE GEORGE IS NOW LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES. (SEE SCHEDULE O)IN SEPTEMBER 2023, BREAKING GROUND COMMENCED CONSTRUCTION ON SUTPHIN SENIOR RESIDENCE, A 15-STORY AFFORDABLE HOUSING PROPERTY AT 97-04 SUTPHIN BOULEVARD IN JAMAICA, QUEENS. THE BUILDING WILL YIELD 173 APARTMENTS RESERVED FOR LOW-INCOME SENIORS, INCLUDING 52 SUPPORTIVE HOUSING UNITS FOR FORMERLY HOMELESS OLDER ADULTS WITH SERIOUS MENTAL ILLNESS OR SUBSTANCE USE DISORDER. THE REMAINING 121 UNITS WILL BE RESERVED FOR ADULTS AGED 62 YEARS OR OLDER, EARNING 50 PERCENT OR LESS THAN THE AREA MEDIAN INCOME. BREAKING GROUND RECOGNIZED $6.2M IN DEVELOPER FEES FOR THIS NEW CONSTRUCTION PROJECT.Expenses $1,981,136 · revenue $10,581,010
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-3846708
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $125,161,803
- Income (IRS master file)
- $11,310,133
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,287,949 | $2,067,217 | $125,161,803 | XML |
| 990 | December 2023 | $4,846,250 | $2,019,815 | $115,715,861 | XML |
| 990 | December 2022 | $1,951,175 | $3,331,378 | $113,381,926 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3846708).
Questions about BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION
- What is the EIN of BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION?
- The employer identification number (EIN) of BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION is 13-3846708.
- Is BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 names BRENDA ROSEN.
- Who are the officers and directors of BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,287,949, expenses of $2,067,217 and total assets of $125,161,803 at year end.
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