Nonprofit · EIN 13-4103352
AAFE COMMUNITY DEVELOPMENT FUND INC
Tax-exempt · NEW YORK, NY 10002
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $673,738 | $739,124 | -$65,386 | $6,746,365 | $2,344,654 | $4,401,711 |
| December 31, 2023 | 990 | $859,326 | $721,829 | $137,497 | $6,972,057 | $2,504,960 | $4,467,097 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $315,070
- of which government grants
- $66,857
- Program service revenue
- $108,344
- Investment income
- $41,256
- Net rental income
- $142,314
- Other revenue
- $209,068
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $128,864
- Other salaries and wages
- $157,305
- Salaries, compensation and benefits (total)
- $357,258
- Professional fundraising fees
- $0
- Occupancy
- $72,735
- Depreciation
- $87,430
- Program services (functional)
- $696,739
- Management and general (functional)
- $42,385
Balance sheet and other
- Total assets, start of year
- $6,972,057
- Total assets, end of year
- $6,746,365
- Total liabilities, end of year
- $2,344,654
- Net assets, end of year
- $4,401,711
- Land, buildings and equipment
- $2,911,104
- Net assets without donor restrictions
- $4,401,711
- Gross receipts
- $690,544
- Employees
- 3
- Volunteers
- 4
- Year formed
- 2000
- 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 |
|---|---|---|---|---|---|
| THOMAS YU | PRESIDENT/ED Trustee or director, Officer | 1 | $0 | $284,107 | $61,872 |
| JESSIE LEE | MANAGING DIRECTOR Officer | 5 | $0 | $203,168 | $30,771 |
| JOY SUZANNE GRANADO | CHIEF ACCOUNTING OFFICER (OUTGOING) Officer | 1 | $0 | $175,272 | $21,446 |
| EDDIE WONG | DEPUTY MANAGING DIRECTOR Officer | 40 | $109,069 | $0 | $19,795 |
| DONNA CHIU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HEIDIE JOO BURWELL | DIRECTOR (OUTGOING) Trustee or director | 1 | $0 | $0 | $0 |
| JIM BURKE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LYDIA TOM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JENNY YANG | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| THOMAS YU | PRESIDENT/ED Trustee or director, Officer | 1 | $0 | $279,045 | $66,264 |
| JOY SUZANNE GRANADO | CHIEF ACCOUNTING OFFICER Officer | 1 | $0 | $192,545 | $28,046 |
| JESSIE LEE | MANAGING DIRECTOR Officer | 5 | $0 | $175,773 | $25,098 |
| EDDIE WONG | DEPUTY MANAGING DIRECTOR Officer | 40 | $105,841 | $0 | $20,164 |
| DONNA CHIU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HEIDIE JOO BURWELL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JIM BURKE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LYDIA TOM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2 ALLEN ST 7FL, NEW YORK, NY 10002-5302
- In care of
- % JACQUELINE HUEY
- Principal officer (990 for 2024)
- THOMAS YU, 2 ALLEN STREET 7TH FLOOR, NEW YORK, NY 10002
- Signed the 990
- THOMAS YU, PRESIDENT/ED
- Phone
- (212) 964-2288
- Website
- WWW.AAFECDF.ORG
- Return prepared by
- CBIZ ADVISORS LLC
Mission
AAFE COMMUNITY DEVELOPMENT FUND, INC. PROVIDES TARGETED TECHNICAL ASSISTANCE AND AFFORDABLE SECOND MORTGAGE LOANS TO ENHANCE HOME-OWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME RESIDENTS OF NEW YORK CITY.
Program accomplishments
- HOME OWERSHIP PROGRAM - THIS PROGRAM PROVIDES TARGETED TECHICAL ASSISTANCE TO ENHANCE HOMEOWNERSHIP FOR LOW MODERATE INCOME RESIDENTS OF NEW YORK CITY. SERVICES INCLUDE: FIRST TIME HOMEBUYER TRAINING, MORTGAGE REFERREL AND ORIGINATION, HOMEOWNERSHIP RETENTION, LANDLORD COUNSELING, AND MORTGAGE DELINQUENCY AND DEFAULT RESOLUTION.Expenses $390,538 · revenue $20,500
- CDFI AND LOAN PROGRAM - THE CDFI AND LOAN PROGRAM PROVIDES AFFORTABLE FINANCING TO HELP FIRST-TIME HOME BUYERS IN NEW YORK CITY WITH THEIR DOWNPAYMENTS; THUS LOWERING THE LOAN-TO-VALUE RATIO OF THEIR PRIMARY MORTGAGE. THIS PROGAM ALSO OFFERS A RANGE OF AFFORDABLE DOWN PAYMENT, EMERGENCY REPAIR AND HOME REHABILITATION LOAN PRODUCTS.Expenses $306,201 · revenue $154,598
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
- 13-4103352
- 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
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L80)
- Assets (IRS master file)
- $6,746,365
- Income (IRS master file)
- $690,544
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $673,738 | $739,124 | $6,746,365 | IRS |
| 990 | December 2023 | $859,326 | $721,829 | $6,972,057 | XML |
| 990 | December 2022 | $687,283 | $637,701 | $7,122,719 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 13-4103352).
Questions about AAFE COMMUNITY DEVELOPMENT FUND INC
- What is the EIN of AAFE COMMUNITY DEVELOPMENT FUND INC?
- The employer identification number (EIN) of AAFE COMMUNITY DEVELOPMENT FUND INC is 13-4103352.
- Is AAFE COMMUNITY DEVELOPMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to AAFE COMMUNITY DEVELOPMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AAFE COMMUNITY DEVELOPMENT FUND INC 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 AAFE COMMUNITY DEVELOPMENT FUND INC 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 AAFE COMMUNITY DEVELOPMENT FUND INC 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 AAFE COMMUNITY DEVELOPMENT FUND INC?
- The 990 for the year ended December 31, 2024 names THOMAS YU.
- Who are the officers and directors of AAFE COMMUNITY DEVELOPMENT FUND INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization.
- How much revenue does AAFE COMMUNITY DEVELOPMENT FUND INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $673,738, expenses of $739,124 and total assets of $6,746,365 at year end.
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