2024-11-11T08:24:47-06:00 2023-12-31 WithumSmithBrown PC 1411 BROADWAY 9TH FLOOR NEW YORK NY 10018 990 2023-01-01 113200785 SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION % TUC MANAGEMENT SHOR 7184917208 55 WATER ST 46th FLOOR NEW YORK NY 10041 DAVID WAGNER CEO, PRESIDENT 7184917208 2024-11-15 true true ISRAEL TANNENBAUM CPA P01589203 9738989494 2023 2024-10-15 13:58:12Z DAVID WAGNER 55 WATER ST 46th FLOOR NEW YORK NY 10041 1636307 false X WWW.MJHS.ORG X 1994 NY TO PROVIDE HOUSING TO THE ELDERLY 7 6 0 6 0 0 0 0 1621156 1615669 4082 16341 4264 4297 1629502 1636307 0 0 0 0 417242 380736 0 0 0 1643719 1587074 2060961 1967810 -431459 -331503 8590027 8333939 11692698 11768113 -3102671 -3434174 SHOREFRONT TOWERS OPERATES A 116 UNIT, NOT-FOR-PROFIT RESIDENTIAL APARTMENT BUILDING COMPLEX FOR THE ELDERLY AND THOSE IN NEED OF CHARITABLE SUPPORT. false false 1693348 0 1615669 SHOREFRONT TOWERS OPERATES A 116 UNIT, NOT-FOR-PROFIT RESIDENTIAL APARTMENT BUILDING COMPLEX FOR THE ELDERLY AND THOSE IN NEED OF CHARITABLE SUPPORT. 1693348 true false false false false false false false true false true false false false true false 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 9 0 true 0 false false false false false false false false false false false false X 7 6 false true false false false false false true true false false true true true true true true false false false NY X TUC MANAGEMENT 2127657900 157 WEST 57TH ST 18TH FLOOR NEW YORK NY 10019 X David Wagner CEO, PRESIDENT 0.5 34.0 X X 0 1346372 138798 David Koschitzki Chief Financial Officer 0.5 34.0 X 0 696333 124203 Christina Van Vort Assistant Secretary 0.5 34.5 X 0 680101 87581 William Gormley Sr Chair 0.5 1.5 X X 0 0 0 Steven Topal Vice Chair 0.5 4.5 X X 0 0 0 Alexander Balko SECRETARY, TREASURER 0.5 1.5 X X 0 0 0 Burton Esrig Director 0.5 3.0 X 0 0 0 Eli S Feldman Director 0.5 4.5 X 0 0 0 Danielle Rollmann Director 0.5 6.0 X 0 0 0 0 2722806 350582 0 false true false US SECURITY ASSOC DBA ALLIED UNIVE PO BOX 828854 PHILADEPLHIA PA 19182 SECURITY 239870 TUC MANAGEMENT COMPANY 4 EXECUTIVE BLVD SUITE 100 SUFFERN NY 10901 PROPERTY MGMT 178845 2 0 RENTAL INCOME 531110 1615669 1615669 1615669 16341 0 16341 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LAUNDRY AND VENDING 900099 3600 3600 OTHER REVENUE 900099 697 697 4297 1636307 1615669 0 20638 0 0 0 0 0 0 341334 291601 49733 0 30583 26127 4456 8819 7534 1285 164092 164092 0 0 28133 28133 0 0 0 34917 29830 5087 0 24564 20985 3579 0 0 507057 493062 13995 0 0 0 0 0 587289 587289 127937 127937 ELDERLY CARE EXPENSES 65895 65895 REPAIRS & MAINTENANCE 19039 19039 ALL OTHER EXPENSES 28151 24049 4102 1967810 1693348 274462 0 8172 31611 393864 689960 0 0 10509 8495 0 0 0 0 0 0 0 0 7460 8105 19484401 11920172 8138517 7564229 0 0 0 0 0 0 0 0 31505 31539 8590027 8333939 420768 488771 0 0 8289 15295 0 0 31505 31539 0 0 11169850 11169850 0 0 62286 62658 11692698 11768113 X -3102671 -3434174 0 0 -3102671 -3434174 8590027 8333939 -331503 X false true X true true true X 0 0 0 0 0 0 1789996 1264456 1485632 1621156 1615669 7776909 0 0 0 1789996 1264456 1485632 1621156 1615669 7776909 0 0 0 7776909 19600 3918 1414 4082 16341 45355 0 19600 3918 1414 4082 16341 45355 0 4050 24324 4599 4264 4297 41534 1813646 1292698 1491645 1629502 1636307 7863798 0.98895 0.99070 0.00577 0.00470 X 169000 169000 19145203 11870617 7274586 104965 49555 55410 65233 0 65233 7564229 0 DUE TO RELATED PARTIES 62658 62658 1650647 14340 14340 1636307 1636307 1982150 14340 14340 1967810 1967810 PART IV, LINE 2B: SHOREFRONT TOWERS IS REQUIRED TO PLACE TENANT SECURITY DEPOSITS INTO AN INTERESTBEARING ACCOUNT. ALL TENANT SECURITY DEPOSITS ARE CONSIDERED THE PROPERTY OF THE TENANT AND MAY NOT BE COMMINGLED WITH PERSONAL MONIES OR BECOME AN ASSET OF SHOREFRONT TOWERS. UPON CESSATION OF EACH TENANT'S STAY AT SHOREFRONT TOWERS, THE SECURITY DEPOSIT IS RETURNED TO THE TENANT OR A FAMILY MEMBER. PART XI, LINE 2D OTHER ADJUSTMENTS: RENT FREE UNIT .....$14,340 PART XII, LINE 2D OTHER ADJUSTMENTS: RENT FREE UNIT .....$14,340 false false false false false false false false false David Wagner CEO, PRESIDENT 0 1084208 0 195000 0 67164 0 56925 0 81873 0 1485170 0 0 David Koschitzki Chief Financial Officer 0 569608 0 82500 0 44225 0 46200 0 78003 0 820536 0 0 Christina Van Vort Assistant Secretary 0 567423 0 82500 0 30178 0 46200 0 41381 0 767682 0 0 PART I, LINE 3: THE SALARIES FOR THE EXECUTIVES ARE DETERMINED BY METROPOLITAN JEWISH HEALTH SYSTEM INC. A RELATED ORGANIZATION. THE METHODS UTILIZED INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANTS, REVIEW OF THE FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEYS OR STUDIES AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 3: SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION IS MANAGED BY TUC MANAGEMENT CO., INC. FORM 990, PART VI, SECTION B, LINE 11: DRAFT OF THE COMPLETED RETURN IS REVIEWED BY THE PRESIDENT, CFO, AND SENIOR VP, GENERAL COUNSEL AND THEIR STAFF. ANY COMMENTS ARISING FROM THEIR REVIEW ARE DISCUSSED AND, IF REQUIRED, CHANGES ARE MADE TO THE DRAFT. THAT DRAFT WILL BE SUBMITTED TO THE METROPOLITAN JEWISH HEALTH SYSTEM, INC ("MJHS"), A RELATED 501(C)(3) ORGANIZATION, FINANCE COMMITTEE FOR ITS REVIEW AND APPROVAL. ONCE THE COMMITTEE HAS COMPLETED ITS REVIEW A COPY OF THE RETURN IS PROVIDED TO ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: EACH DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE AND MEMBER OF A COMMITTEE WITH BOARDDELEGATED POWERS MUST FILE AND MAINTAIN CURRENT THE ORGANIZATION'S DIRECTORS BIOGRAPHICAL INFORMATION FORM AND, ON AN ANNUAL BASIS, COMPLETE THE ORGANIZATION'S DIRECTORS CONFLICT OF INTEREST STATEMENT AND ACKNOWLEDGEMENT WHICH ACKNOWLEDGES THAT EACH INDIVIDUAL HAS DISCLOSED ANY POTENTIAL CONFLICT OF INTEREST; RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; READ AND UNDERSTANDS THE CONFLICTS OF INTEREST POLICY; AND AGREED TO COMPLY WITH THE CONFLICTS OF INTEREST POLICY. THE SENIOR VICE PRESIDENT/GENERAL COUNSEL SUPERVISES THE DISTRIBUTION, COLLECTION AND REVIEW OF THE ANNUAL DIRECTORS CONFLICT OF INTEREST STATEMENT AND ACKNOWLEDGEMENT. FROM TIME TO TIME, DIRECTORS, PRINCIPAL OFFICERS, KEY EMPLOYEES AND/OR COMMITTEE MEMBERS ARE REMINDED OF THEIR OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS OF INTEREST WHEN AND IF THEY ARISE. PROCEDURES FOR MANAGING IDENTIFIED CONFLICTS: EACH DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE AND MEMBER OF A BOARD COMMITTEE IS REQUIRED TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST TO THE INDIVIDUAL CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. IN THE EVENT OF SUCH A DISCLOSURE, THE INTERESTED PARTY IS EXCUSED FROM THE MEETING AND THE BOARD/COMMITTEE DETERMINES WHETHER A CONFLICT EXISTS. IF THE BOARD/COMMITTEE DETERMINES THAT A CONFLICT EXISTS, THE CHAIRPERSON OF THE BOARD OR DESIGNEE (IF APPROPRIATE) WILL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE AND REPORT TO THE BOARD OF DIRECTORS ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. BASED ON THE INFORMATION FURNISHED BY THE DISINTERESTED PERSON OR COMMITTEE, THE BOARD OF DIRECTORS WILL MAKE A DETERMINATION OF WHETHER THE CORPORATION CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR MORE REASONABLE ARRANGEMENTS FROM AN ENTITY OR PERSON THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST IS NOT REASONABLY ATTAINABLE UNDER THE CIRCUMSTANCES, THE BOARD OF DIRECTORS WILL DETERMINE, BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS, WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE ORGANIZATION. ALL OF THE ACTIONS STATED ABOVE SHALL BE REFLECTED IN THE BOARD/COMMITTEE MINUTES. IN THE EVENT THAT A DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A BOARD COMMITTEE FAILS TO DISCLOSE A POTENTIAL OR ACTUAL CONFLICT OF INTEREST, THE BOARD/COMMITTEE, AFTER AFFORDING THE INDIVIDUAL DUE PROCESS, SHALL DETERMINE WHETHER THE INDIVIDUAL VIOLATED THE CONFLICT OF INTEREST POLICY BY FAILING TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST AND, IN THE EVENT OF A DETERMINATION THAT A VIOLATION OCCURRED, TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION DOES NOT COMPENSATE ITS CEO & PRESIDENT REPORTED ON PART VII OF THE FORM 990. THE CEO & PRESIDENT IS PAID BY A RELATED 501(C)(3) ORGANIZATION, METROPOLITAN JEWISH HEALTH SYSTEM ("MJHS"). THE PROCESSES USED TO DETERMINE THE CEO & PRESIDENT'S COMPENSATION IS DISCLOSED ON MJHS' ANNUAL FORM 990. MJHS RETAINS THE SERVICES OF A MAJOR EXECUTIVE COMPENSATION FIRM TO REVIEW MARKET PAY PRACTICES AND AVERAGE SALARY MOVEMENT AMONG SIMILARLY SITUATED EXECUTIVES. THE EXECUTIVE COMPENSATION FIRM IS ASKED TO DEVELOP A COMPARATIVE BASE THAT IS AS CLOSE AS POSSIBLE TO OUR ORGANIZATION. THIS MARKET ANALYSIS IS THEN REVIEWED BY THE COMPENSATION COMMITTEE IN DETERMINING SALARY ADJUSTMENTS FROM THE PERSPECTIVE OF MARKET COMPETITIVENESS AND PRIOR YEAR PERFORMANCE. PERFORMANCE IS BASED ON THE EXTENT THAT EACH EXECUTIVE HAS ACHIEVED HIS/HER GOALS. BONUS ELIGIBILITY IS DONE IN A SIMILAR MANNER. THE BASIS FOR ITS DETERMINATION AND ALL DECISIONS MADE ARE CONTEMPORANEOUSLY DOCUMENTED IN MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15B: SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION DOES NOT COMPENSATE ITS OTHER OFFICERS OR KEY EMPLOYEES WHO ARE PAID BY A RELATED 501(C)(3) ORGANIZATION, METROPOLITAN JEWISH HEALTH SYSTEM ("MJHS"). THE PROCESSES USED TO DETERMINE THE OTHER OFFICERS AND KEY EMPLOYEES' COMPENSATION IS DISCLOSED ON MJHS' ANNUAL FORM 990. MJHS RETAINS THE SERVICES OF A MAJOR EXECUTIVE COMPENSATION FIRM TO REVIEW MARKET PAY PRACTICES AND AVERAGE SALARY MOVEMENT AMONG SIMILARLY SITUATED EXECUTIVES. THE EXECUTIVE COMPENSATION FIRM IS ASKED TO DEVELOP A COMPARATIVE BASE THAT IS AS CLOSE AS POSSIBLE TO OUR ORGANIZATION. THIS MARKET ANALYSIS IS THEN REVIEWED BY THE HUMAN RESOURCES DEPARTMENT UNDER THE DIRECTION OF THE CHIEF HUMAN RESOURCES OFFICER IN CONJUNCTION WITH THE CEO, USING LOCAL SURVEYS TO ENSURE MARKET COMPETITIVENESS. FORM 990, PART VI, SECTION C, LINE 19: UPON REQUEST, THE ORGANIZATION WILL MAKE AVAILABLE ONLY THOSE DOCUMENTS REQUIRED TO BE DISCLOSED UNDER THE PUBLIC INSPECTION LAWS. METROPOLITAN JEWISH HEALTH SYSTEM INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 113538697 ADMIN. SVCS. NY 501(C)(3) LINE 7 NA false MENORAH HOME AND HOSPITAL FOR THE AGED 55 WATER ST 46TH FLOOR NEW YORK NY 10041 111672777 NURSING HOME NY 501(C)(3) LINE 3 MJHS false SHOREFRONT GERIATRIC INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 113072153 NURSING HOME NY 501(C)(3) LINE 10 MJHS false METROPOLITAN JEWISH HOME CARE INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 320060822 HOME CARE NY 501(C)(3) LINE 10 MJHS false ELDERPLAN INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 112625096 MEDICARE NY 501(C)(3) LINE 10 MJHS false HOMEFIRST LHCSA INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 611501623 HOME CARE NY 501(C)(3) LINE 12A, I MJHS false METROPOLITAN JEWISH HEALTH SYSTEM FOUND 55 WATER ST 46TH FLOOR NEW YORK NY 10041 111630753 FUNDRAISING NY 501(C)(3) LINE 7 MJHS false MJHS HOSPICE AND PALLIATIVE CARE INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 133438643 HOSPICE NY 501(C)(3) LINE 3 MJHS false MJHS MEDICAL ASSOCIATES PC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 275273404 HEALTH CARE NY 501(C)(3) LINE 10 MJHS false FIRST TO CARE HOME CARE INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 113300822 HOME CARE NY 501(C)(3) LINE 10 MJHS false INSTITUTE FOR APPLIED GERONTOLOGY 55 WATER ST 46TH FLOOR NEW YORK NY 10041 113135751 RESEARCH NY 501(C)(3) LINE 10 MJHS false ISABELLA GERIATRIC CENTER INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 133623808 NURSING HOME NY 501(C)(3) LINE 10 MJHS false MJGC CORP 55 WATER ST 46TH FLOOR NEW YORK NY 10041 113356665 HOLDING COMPANY NY MJHS C CORPORATION 0 0 false MJHS SOLUTIONS INC 55 WATER ST 46TH FLOOR NEW YORK NY 10041 832479283 HOLDING COMPANY NY MJHS FOUNDATION C CORPORATION 0 0 false false false false false false false false false false false false false false false false true false false false SCHEDULE R, PART V This organization is a participating agency of Metropolitan Jewish Health System, Inc. ("MJHS") and is a tax-exempt organization. Funds are routinely transferred between MJHS and other participating agencies pursuant to services arrangements between such organizations. These transactions may be recorded on the revenue/expense and balance sheet statements of this organization and other participating agencies. MJHS Health System seeks to be the premier provider of health services in the greater metropolitan area, ensuring access to health, supportive and community-based services in furtherance of its charitable tax-exempt purposes.