Nonprofit · EIN 45-4252738
RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION
Tax-exempt · NEW YORK, NY 10038
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $533,000 | $347,627 | $185,373 | $1,085,660 | $110,932 | $974,728 |
| December 31, 2023 | 990 | $682,500 | $924,059 | -$241,559 | $852,435 | $63,080 | $789,355 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $32,500
- of which government grants
- $32,500
- Program service revenue
- $500,500
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $32,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $15,025
- Accounting fees
- $39,908
- Occupancy
- $32,390
- Program services (functional)
- $233,951
- Management and general (functional)
- $113,676
Balance sheet and other
- Total assets, start of year
- $852,435
- Total assets, end of year
- $1,085,660
- Total liabilities, end of year
- $110,932
- Net assets, end of year
- $974,728
- Net assets without donor restrictions
- $974,728
- Gross receipts
- $533,000
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2019
- 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 |
|---|---|---|---|---|---|
| SALVATORE D'AVOLA | ASSISTANT SECRETARY Officer | 6 | $0 | $274,704 | $26,421 |
| HAROLD SHULTZ | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL WADMAN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TATIANA PENA | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| VICTORIA BARRECA | TREASUTER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| XIOMARA PEDRAZA | OUTGOING DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD PINNER | ASSISTANT SECRETARY Officer | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| SALVATORE D'AVOLA | ASSISTANT SECRETARY Officer | 6 | $0 | $264,329 | $25,032 |
| HAROLD SHULTZ | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LYDIA TOM | OUTGOING TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL WADMAN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TATIANA PENA | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| VALERIE WHITE | OUTGOING SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| VICTORIA BARRECA | TREASUTER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| XIOMARA PEDRAZA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD PINNER | ASSISTANT SECRETARY Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 150 BROADWAY RM 2101, NEW YORK, NY 10038-4484
- In care of
- % SALVATORE DAVOLA
- Principal officer (990 for 2024)
- MR SALVATORE D'AVOLA, 150 BROADWAY 2101, NEW YORK, NY 10038
- Signed the 990
- MR SALVATORE D'AVOLA, ASSISTANT SECRETARY
- Phone
- (212) 584-8981
- Website
- WWW.NEIGHBORHOODRESTORE.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PERSERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES, IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABLIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.
Program accomplishments
- THE ORGANIZATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NONPROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. DURING THE YEAR, THE ORGANIZATION CONTINUED TO OWN AND MANAGE RENT REGULATED PROPERTIES THROUGHOUT NEW YORK CITY, PROVIDING SAFE AFFORDABLE HOUSING TO THOUSANDS OF TENANTS.Expenses $233,951 · grants $32,500 · revenue $500,500
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 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-4252738
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L11)
- Assets (IRS master file)
- $1,415,268
- Income (IRS master file)
- $261,000
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $533,000 | $347,627 | $1,085,660 | XML |
| 990 | December 2023 | $682,500 | $924,059 | $852,435 | XML |
| 990 | December 2022 | $2,883,500 | $2,656,225 | $1,086,277 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 45-4252738).
Questions about RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION
- What is the EIN of RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION?
- The employer identification number (EIN) of RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION is 45-4252738.
- Is RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does RESTORING COMMUNITIES 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 RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RESTORING COMMUNITIES 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 RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 names MR SALVATORE D'AVOLA.
- Who are the officers and directors of RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $533,000, expenses of $347,627 and total assets of $1,085,660 at year end.
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