2024-11-14T01:35:40-06:00 2023-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2023-01-01 133741272 COUNCIL TOWERS I HOUSING DEVELOPMENT CORPORATION C/O MET COUNCIL COUN 2124539500 ONE STATE STREET PLAZA 24TH FLOOR NEW YORK NY 10004 PHILIP KIBEL CFO 2124539500 2024-11-13 1 1 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2024-11-04 2023 2024-10-15 13:58:12Z X DAVID G GREENFIELD ONE STATE STREET PLAZA 24TH FLOOR NEW YORK NY 10004 2328969 0 X WWW.METCOUNCIL.ORG X 1993 NY TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS. 4 4 0 4 0 0 0 0 1797046 2241841 16720 74723 9943 12405 1823709 2328969 0 0 0 0 0 0 0 0 0 2000132 2213175 2000132 2213175 -176423 115794 3626082 3657124 12788684 12703932 -9162602 -9046808 TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS. 0 0 1882771 2254246 TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS. 1882771 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 NY X PHILIP KIBEL 2124539500 ONE STATE STREET PLAZA 24TH FLOOR NEW YORK NY 10004 ABE FOXMAN TREASURER 0.10 1.20 X X 0 0 0 KEN ECKSTEIN SECRETARY 0.10 1.60 X X 0 0 0 LINDA SPITZER DIRECTOR 0.10 0.70 X 0 0 0 STACEY SCHEINBERG PRESIDENT 0.10 2.30 X X 0 0 0 DAVID GREENFIELD CEO 0.10 49.90 X 0 627955 60217 ELENA SYTCHEVA CO-MANAGING DIRECTOR 0.10 39.90 X 0 157049 17423 PHILIP KIBEL CFO 0.10 39.90 X 0 168339 39047 ROBERT NEWMAN COO 0.10 39.90 X 0 284353 5476 0 1237696 122163 0 0 1 0 0 RENTAL INCOME 531110 2241841 2241841 2241841 74723 74723 FORGIVENESS OF LOAN 900099 8333 8333 LAUNDRY AND VENDING 900099 4072 4072 12405 2328969 2254246 0 74723 531157 247682 283475 8930 8930 46929 46929 11693 11693 22917 22917 840894 840894 413 413 516504 516504 REPAIRS AND MAINTENANCE 233424 233424 314 314 2213175 1882771 330404 0 34008 50982 46237 82952 131717 133098 14112240 12949899 1678845 1162341 1735275 2227751 3626082 3657124 905308 820099 12075 19958 33180 34087 11838121 11829788 12788684 12703932 X -9162602 -9046808 -9162602 -9046808 3626082 3657124 115794 0 X 0 1 X 0 1 1 X 12169 5604 17773 1300991 1865044 1820570 1797046 2241841 9025492 1300991 1877213 1826174 1797046 2241841 9043265 0 0 0 9043265 5480 810 510 16720 74723 98243 5480 810 510 16720 74723 98243 11438 11438 13664 9943 12405 58888 1317909 1889461 1840348 1823709 2328969 9200396 0.98290 0.98950 0.01070 0.00340 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY VENDING - 2019 AMOUNT: $ 3,105. 2020 AMOUNT: $ 3,105. 2021 AMOUNT: $ 5,331. 2022 AMOUNT: $ 1,610. 2023 AMOUNT: $ 4,072. FORGIVENESS OF LOAN - 2019 AMOUNT: $ 8,333. 2020 AMOUNT: $ 8,333. 2021 AMOUNT: $ 8,333. 2022 AMOUNT: $ 8,333. 2023 AMOUNT: $ 8,333. 0 1 X 62000 62000 13865819 12774845 1090974 184421 175054 9367 1162341 TAX ESCROW 705881 TENANT DEPOSITS 34087 RESERVES FOR REPLACEMENT 1454366 RESIDUAL RECIEPTS RESERVE 33417 2227751 X 2328969 0 2328969 0 2328969 2213175 0 2213175 0 2213175 PART IV, LINE 2B: THE ORGANIZATION MAINTAINES SECURITY DEPOSITS AS REQUIRED BY STATE LAW. PART X, LINE 2: THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE INFORMATIONAL RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INFORMATIONAL RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INFORMATIONAL RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 DAVID GREENFIELD CEO 0 627665 0 0 0 290 0 7680 0 52837 0 688472 0 0 ROBERT NEWMAN COO 0 283066 0 0 0 1287 0 3376 0 2400 0 290129 0 0 PHILIP KIBEL CFO 0 167694 0 0 0 645 0 2262 0 36973 0 207574 0 0 ELENA SYTCHEVA CO-MANAGING DIRECTOR 0 156932 0 0 0 117 0 1939 0 15776 0 174764 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DID NOT HAVE ANY COMMITTEE MEETINGS DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT. IT IS THEN REVIEWED BY THE ORGANIZATION'S GOVERNING BODY. AFTER THE REVIEW, FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND DIRECTORS COMPLETE NYC VENDEX CONFLICT OF INTEREST FORM ANNUALLY. NO PURCHASES ARE ALLOWED FROM ANY BUSINESS AFFILIATED WITH EMPLOYEES OR BOARD MEMBERS. 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