2025-12-18T11:00:09-06:00 2024-12-31 990 2024-01-01 133552154 ABYSSINIAN DEVELOPMENT CORPORATION ABYS 6464425999 2283 ADAM CLAYTON POWELL JR BLVD NEW YORK NY 10030 PRINCESS PALMER COO/CFO 6464425999 2025-12-18 0 2024 2025-03-06 01:10:19Z PRINCESS PALMER 2283 ADAM CLAYTON POWELL JR BLVD NEW YORK NY 10030 32362296 0 X WWW.ADCORP.ORG X 1989 NY A COMPREHENSIVE COMMUNITY DEVELOPMENT THROUGH AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES, EDUCATIONAL PROGRAMS, AND FIRST TIME HOME-BUYER TRAINING TO THE HARLEM COMMUNITY OF NEW YORK CITY. 10 10 24 0 0 0 222382 234970 10578331 10716313 123182 20614509 821533 362004 11745428 31927796 0 0 0 0 2648902 2657721 0 0 111529 14543471 20551857 17192373 23209578 -5446945 8718218 95675744 118153697 82716994 98496154 12958750 19657543 X A COMPREHENSIVE COMMUNITY DEVELOPMENT CORPORATION FOCUSED ON PROVIDING AFFORDABLE HOUSING TO LOW AND MODERATE INCOME FAMILIES AND SOCIAL SERVICES, PRINCIPALLY EDUCATIONAL PROGRAMS IN THE AREAS OF COLLEGE/CAREER READINESS, STEM, AND DISTRICT-BASED INITIATIVES TO IMPROVE STUDENT OUTCOMES AND HOMEOWNERSHIP WORKSHOPS FOR FIRST-TIME HOME BUYERS. 0 0 19851420 10642170 REAL ESTATE PROPERTIES THAT PROVIDE LOW TO MODERATE INCOME HOUSING AND TENANT SERVICES FOR THE HARLEM COMMUNITY OF NEW YORK CITY. OUR PORTFOLIO INCLUDES CLOSE TO 600 UNITS OF AFFORDABLE HOUSING, THE MAJORITY OF WHICH QUALIFY FOR HOUSING ASSISTANCE PAYMENTS THROUGH VARIOUS FEDERAL AND LOCAL AGENCIES AND ABOUT 19,000 SQUARE FEE OF COMMERCIAL SPACE THAT'S LEASED TO COMMUNITY SMALL BUSINESSES. THE ORGANIZATION'S REAL ESTATE HOLDINGS ARE PRINCIPALLY STRUCTURED AS LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS THAT ARE DESIGNED TO GENERATE DOLLAR-FOR-DOLLAR TAX CREDITS IN EXCHANGE FOR PRIVATE EQUITY INVESTMENTS IN THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING. 633952 234970 OUR EDUCATION PLAN BRINGS A HOLISTIC APPROACH TO ACADEMIC ACHIEVEMENT THROUGH PARTNERSHIPS WITH TRADITIONAL PUBLIC SCHOOLS IN NEW YORK CITY' SCHOOL DISTRICT 5. OUR OBJECTIVE IS TO ENSURE THAT STUDENTS CAN LEARN, GROW AND EXCEL TO BE PREPARED FOR COLLEGE; FAMILIES ARE ENGAGED AS PARTNERS; AND FACULTY OPERATE AS A COMMUNITY OF LEADERS, SHARING BEST PRACTICES AND COMMUNITY RESOURCES. OUR DIRECT SERVICES INCLUDE COLLEGE/CAREER PREPARATORY SERVICES, STEM CLASSROOM CURRICULUM ENHANCEMENTS, AFTER-SCHOOL TUTORING TO SUPPORT STUDENTS PERFORMING JUST BELOW GRADE-LEVEL PROFICIENCY, AND CO-SPONSORING A DISTRICT-WIDE ANNUAL STEM EXPO. 64931 74143 OUR HARLEM ECONOMIC LITERACY PROGRAM PROVIDES FINANCIAL LITERACY AND HOME-OWNERSHIP COUNSELING SERVICES TO FIRST-TIME HOMEBUYERS THROUGH WORKSHOP TRAINING, CASE MANAGEMENT SERVICES, AND GRANT APPLICATION ASSISTANCE. 20550303 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 24 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NY X PRINCESS PALMER 6464428599 2283 ADAM CLAYTON POWELL JR BLVD NEW YORK NY 10030 DR CYNTHIA BARNES BOARD MEMBER 1.00 X 0 0 0 ALVIN VINSON TREASURER HUMAN RESOURCES COMMITTEE 1.00 X 0 0 0 DR DEBORAH ALLEN BOARD MEMBER 1.00 X 0 0 0 G ANTHONY ANDERSEN JOINT CHAIR OF REAL ESTATE & FINANCE COMM 2.50 X 0 0 0 LARRY DAIS CHAIR OF AUDIT COMMITTEE 1.50 X 0 0 0 DR SANDYE JOHNSON BOARD MEMBER 5.00 X 0 0 0 GERRI WARREN-MERRICK BOARD MEMBER 1.00 X 0 0 0 PHILIP ISOM BOARD MEMBER 1.50 X 0 0 0 DARRYL WILLIAMS BOARD MEMBER 1.50 X 0 0 0 TIMOTHY C NASH JR SECRETARY 2.00 X 0 0 0 PRINCESS PALMER COO/CFO 35.00 X 145000 0 9392 145000 0 9392 1 0 1 0 0 168570 66400 234970 RESIDENT. & COMM. RENT 531110 10716313 10716313 10716313 59115 59115 20555394 20555394 422282 434500 -12218 -12218 OTHER INCOME 531110 348949 348949 MANAGEMENT FEES 531110 25273 25273 374222 31927796 31692826 0 0 145000 39357 105341 302 2038527 1682883 268387 87257 281550 203323 66242 11985 192644 167948 18678 6018 1135172 1063938 70109 1125 122702 107660 15042 81507 81507 17199 15446 1753 672601 667708 4893 6397 6320 77 3212380 3212380 4719925 4719925 5035147 3098503 1936644 REPAIRS AND MAINTENANCE 3139510 3137182 2328 0 UTILITIES AND TELEPHONE 1446593 1400093 42701 3799 REAL ESTATE TAXES 392652 392652 0 0 570072 553478 15551 1043 23209578 20550303 2547746 111529 4890701 12985583 460979 -408 2245511 2338211 11436401 11436401 2972998 4124768 123729778 39977932 70554702 83751846 2845 797265 3111607 2720031 95675744 118153697 8409515 6085413 12783380 12980865 31637700 24333238 28188450 53193630 36500 36500 1661449 1866508 82716994 98496154 X 11277113 17978852 1681637 1678691 12958750 19657543 95675744 118153697 8718218 -2019425 0 X 0 0 0 X 75165 60642 60600 64250 66400 327057 9669457 10652609 9569228 10578331 10716313 51185938 158132 168570 326702 9744622 10713251 9629828 10800713 10951283 51839697 0 0 0 51839697 79392 289671 -151096 123182 20614509 20955658 79392 289671 -151096 123182 20614509 20955658 -12278 -12278 -12278 -12218 -12218 -61270 148192 416609 235937 833751 374222 2008711 9959928 11407253 9702391 11745428 31927796 74742796 0.69360 0.95630 0.28040 0.01120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 123729778 39977932 83751846 83751846 TENANT SECURITY DEPOSITS 197996 RELATED PARTY PAYABLES 1668512 1866508 1 YOUTH ON THE MOVE IN THE COMMUNITY 669 LENOX AVE NEW YORK NY 10030 451448266 C CORP 7599 0 BOOK NOT APPLICABLE YOUTH ATHLETIC PROGRAMS PART I, LINE 2: NOT APPLICABLE 1 0 0 0 0 0 0 0 0 0 PRINCESS PALMER COO/CFO 145000 0 0 0 0 0 0 0 9392 0 154392 0 0 0 A NYS HOUSING DEVELOP CORP MULTI-FAMILY 64970M4N0 2010-12-22 2720000 MULTI-FAMILY AFFORDABLE HOUSING 0 0 0 B NYS HOUSING DEVELOP CORP MULTI-FAMILY 64970M4R1 2010-12-22 9480000 MULTI-FAMILY AFFORDABLE HOUSING 0 0 0 C NYS HSG FINANCE AGENCY AFFORD HS NONEAVAIL 2011-12-22 14565000 MULTI-FAMILY AFFORDABLE HOUSING 0 0 0 D NYS HSG FINANCE AGENCY AFFORD HS NONEAVAIL 2011-12-22 24000000 MULTI-FAMILY AFFORDABLE HOUSING 0 0 0 A 2720000 2720000 145904 96534 2327684 392316 2008 0 0 1 1 B 9480000 508517 336450 8112665 1367335 2012 0 0 1 1 C 14565000 14565000 884019 441731 14123269 441731 2015 0 0 1 1 D 3500000 24000000 1991647 727879 23272121 727879 2015 0 0 1 1 A 0 0 1 1 0 1 0 1 B 0 0 1 1 0 1 0 1 C 0 0 1 1 0 1 0 1 D 0 0 1 1 0 1 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 0 B 0 C 0 D 0 FORM 990, PART I, DESCRIPTION OF ORGANIZATION MISSION: FAMILIES, EDUCATIONAL PROGRAMS, AND FIRST-TIME HOME-BUYER TRAINING TO THE HARLEM COMMUNITY OF NEW YORK FORM 990, PART III, DESCRIPTION OF ORGANIZATION MISSION: IMPROVE STUDENT OUTCOMES AND HOMEOWNERSHIP WORKSHOPS FOR FIRST-TIME HOME-BUYERS. FORM 990, PART IV, SECTION B, LINE 12C: THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS INCLUDING THE PROCESS USED TO DETERMINE COMPENSATION FOR ITS OFFICERS AND THE CONFLICT INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST AT ITS LOCATED AT 2283 ADAM CLAYTON POWELL JR. BLVD., NEW YORK, NEW YORK 10030 FORM 990, PART IV, SECTION B, LINE 15: THE PROCESS FOR DETERMINING COMPENSATION OF THE COMPANY'S EXECUTIVE DIRECTOR WAS REVIEWED AND APPROVED. FORM 990, PART IV, SECTION B, LINE 19: THE COMPANY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF POLICY, AND FINANCIAL STATEMENTS AVAILABLE BY REQUEST. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COPY OF THE COMPLETE FORM 990 TO ALL MEMBERS OF THE GOVERNING BODY FOLLOWING SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS INCLUDING THE PROCESS USED TO DETERMINE COMPENSATION FOR ITS OFFICERS AND THE CONFLICT INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST AT ITS OFFICERS LOCATED AT 2283 ADAM CLAYTON POWELL JR. BLVD., NEW YORK, NEW YORK 10030. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE COMPANY'S EXECUTIVE DIRECTOR WAS REVIEWED AND APPROVED. FORM 990, PART VI, SECTION C, LINE 19 THE COMPANY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF POLICY, AND FINANCIAL STATEMENTS AVAILABLE BY REQUEST. HARLEM VILLAGE HOMES II HDFC 2283 SEVENTH AVENUE NEW YORK NY 10030 270073186 REAL ESTATE DEVELOPMENT NY ABYS DEV CORP C 1.00000 0 SAMUEL D PROCTOR HDFC 2283 SEVENTH AVENUE NEW YORK NY 10030 133566657 COMMERCIAL RENTAL NY ABYS DEV CORP C 1.00000 0 ABYSSINIAN CULTURAL BUILDING CORP 2283 SEVENTH AVENUE NEW YORK NY 10030 134149284 COMMERCIAL RENTAL NY ABYS DEV CORP S 1.00000 0 301 WEST 148TH STREET HDFC 1200 ZEREGA AVENUE BRONX NY 10462 300282831 RESIDENTIAL RENTAL NY ABYS DEV CORP C 1.00000 0 36 WEST 131ST STREET HDFC 1200 ZEREGA AVENUE BRONX NY 10462 133892068 RESIDENTIAL RENTAL NY ABYS DEV CORP C 1.00000 0 ABYSSINIAN HDFC 2283 SEVENTH AVENUE NEW YORK NY 10030 133132032 SOCIAL SERVICES NY ABYS DEV CORP C 1.00000 0 REV CT WALKER HDFC 2283 SEVENTH AVENUE NEW YORK NY 10030 133434983 REAL ESTATE NY ABYS DEV CORP C 1.00000 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 ABYSSINIAN CULTURAL BUILDING CORP K 20210 CONTRACTUAL AGREEMENT ABYSSINIAN CULTURAL BUILDING CORP L 110000 CONTRACTUAL AGREEMENT ABYSSINIAN CULTURAL BUILDING CORP O 22589 COST BASIS OF SERVICES RENDERED ABYSSINIAN CULTURAL BUILDING CORP Q 178106 COST BASIS OF SERVICES RENDERED ABYSSINIAN HDFC R 31018 COST BASIS OF SERVICES RENDERED ABYSSINIAN HDFC O 38277 COST BASIS OF SERVICES RENDERED ABYSSINIAN HDFC Q 165433 COST BASIS OF SERVICES RENDERED SAMUEL D PROCTOR HDFC O 38450 COST BASIS OF SERVICES RENDERED 36 WEST 131ST STREET HDFC L 25426 COST BASIS OF SERVICES RENDERED 301 WEST 131ST STREET HDFC L 25426 COST BASIS OF SERVICES RENDERED