2025-02-03T15:54:09-06:00 2024-03-31 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2023-04-01 161303858 IBERO-AMERICAN DEVELOPMENT CORPORATION IBER 5854676410 954 CLIFFORD AVENUE ROCHESTER NY 14621 EUGENIO MARLIN EXECUTIVE VICE PRESIDENT 5854676410 2025-02-03 1 0 DAVID A URBAN CPA P00630018 7166340700 2025-02-03 2023 2025-03-06 01:10:19Z EUGENIO MARLIN 954 CLIFFORD AVENUE ROCHESTER NY 14621 1506479 0 X WWW.IADCONLINE.ORG X 1986 NY THE IBERO-AMERICAN DEVELOPMENT CORPORATION WAS INCORPORATED TO ALLEVIATE THE HARDSHIP AND DISTRESS OF PERSONS AND FAMILIES OF LOW AND MODERATE INCOME RESIDING IN THE ROCHESTER, NY AREA BY PROVIDING DWELLING ACCOMMODATIONS AND SOCIAL AND RECREATIONAL FACILITIES AND TO MAINTAIN AND MANAGE REAL PROPERTY FOR VARIOUS NON-PROFIT ENTITIES. IN ADDITION, THE IBERO-AMERICAN DEVELOPMENT CORPORATION IDENTIFIES, REFURBISHES OR BUILDS, AND MARKETS HOMES WITH OTHER THIRD-PARTIES TO ELIGIBLE PURCHASES IN THE ROCHESTER, NY AREA. 7 7 0 0 0 0 96376 144975 865302 1356575 3543 4929 0 0 965221 1506479 0 0 0 0 0 0 0 0 0 1163581 1136340 1163581 1136340 -198360 370139 6824323 7616579 3935602 4357719 2888721 3258860 X THE IBERO-AMERICAN DEVELOPMENT CORPORATION WAS INCORPORATED TO ALLEVIATE THE HARDSHIP AND DISTRESS OF PERSONS AND FAMILIES OF LOW AND MODERATE INCOME RESIDING IN THE ROCHESTER, NY AREA BY PROVIDING DWELLING ACCOMMODATIONS AND SOCIAL AND RECREATIONAL FACILITIES AND TO MAINTAIN AND MANAGE REAL PROPERTY FOR VARIOUS NON-PROFIT ENTITIES. IN ADDITION, THE IBERO-AMERICAN DEVELOPMENT CORPORATION IDENTIFIES, REFURBISHES OR BUILDS, AND MARKETS HOMES WITH OTHER THIRD-PARTIES TO ELIGIBLE PURCHASES IN THE ROCHESTER, NY AREA. 0 0 1046235 1356575 DEVELOPMENT/RENTAL OF FACILITIES TO NONPROFIT ORGANIZATIONS, DEVELOPMENT AND REHABILITATION OF AFFORDABLE HOUSING FOR LOW-TO-MODERATE INCOME AND MANAGEMENT OF HUD PROPERTIES SERVING DEVELOPMENTALLY DISABLED AND ELDERLY INDIVIDUALS. 1046235 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 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 36 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X WILLIAM SONNEVILLE 5854676410 954 CLIFFORD AVENUE ROCHESTER NY 14621 JOSE ROSARIO CHAIRMAN 0.50 2.00 X X 0 0 0 MARCOS A SANTIAGO SECRETARY 0.50 2.00 X X 0 0 0 EUGENIO COTTO BOARD MEMBER 0.50 2.00 X 0 0 0 ARLINE SANTIAGO TREASURER 0.50 2.00 X X 0 0 0 VICTOR SANCHEZ BOARD MEMBER 0.50 2.00 X 0 0 0 IRENE SANCHEZ BOARD MEMBER 0.50 2.00 X 0 0 0 EMETERIO PETE OTERO PHD BOARD MEMBER 0.50 2.00 X 0 0 0 ANGELICA PEREZ-DELGADO PRES & CEO IAAL 2.00 44.00 X 0 199994 10291 EUGENIO MARLIN EXECUTIVE VICE PRESIDENT 44.00 2.00 X 0 95500 7988 0 295494 18279 0 0 1 0 0 91257 53718 144975 RENTAL REVENUE 531190 642822 642822 DEVELOPERS FEES 230000 471152 471152 REAL ESTATE COMMISSION 531310 166496 166496 PROPERTY MANAGEMENT FE 531190 76105 76105 1356575 4929 4929 1506479 1356575 0 4929 X 494263 494263 159833 135077 24756 6348 2625 3723 87425 87425 13323 13323 22203 22203 193571 193571 41040 41040 SUPPLIES 42853 42853 REPAIRS & MAINTENANCE 37439 37439 BAD DEBTS 11942 11942 EQUIPMENT PURCHASES 10388 10388 15712 15712 1136340 1046235 90105 0 225020 211560 278249 1136734 47892 58538 551821 527441 271137 276695 5698727 4280957 1552353 1417770 3897851 3987841 6824323 7616579 187089 126493 2963472 3506659 512724 448794 272317 275773 3935602 4357719 X 2763721 3133860 125000 125000 2888721 3258860 6824323 7616579 370139 0 X X 0 1 X 1 0 X 1158318 561437 414861 96376 144975 2375967 856071 1099548 993500 865302 1356575 5170996 2014389 1660985 1408361 961678 1501550 7546963 0 0 0 7546963 8406 3543 4929 16878 8406 3543 4929 16878 6591 5015 11606 2020980 1666000 1416767 965221 1506479 7575447 0.99620 0.98840 0.00220 0.00170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 166460 166460 5339144 4089672 1249472 193123 191285 1838 1417770 CPC ESCROW 1990 DUE FROM AFFILIATES 495856 LIQUIDITY RESERVE 142140 OPERATING LEASES 3341460 SECURITY DEPOSITS ACCOUNT 6395 3987841 ACCRUED INTEREST 127238 RESTRICTED CASH PAYABLE 142140 SECURITY DEPOSITS 6395 275773 X 1506479 0 1506479 0 1506479 1136340 0 1136340 0 1136340 PART X, LINE 2: IADC, EL CAMINO HDFC, EL CAMINO II HDFC AND PUBELO NUEVO I HDFC ARE NOT-FOR-PROFIT CORPORATIONS AND ARE EXEMPT FROM INCOME TAXES AS THE ORGANIZATION QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IADC, EL CAMINO HDFC, AND EL CAMINO II HDFC HAVE ALSO BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS ENTITIES THAT ARE NOT PRIVATE FOUNDATIONS. EL CAMINO, EL CAMINO II, CAMINO DEL REY INC., CAMINO DEL REY II, INC., PUEBLO NUEVO I, PUEBLO NUEVO II, PUEBLO NUEVO MM AND PUBELO NUEVO BARE ARE FOR-PROFIT CORPORATIONS. 0 0 0 0 0 0 0 0 0 ANGELICA PEREZ-DELGADO PRES & CEO IAAL 0 199994 0 0 0 0 0 0 0 10291 0 210285 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PROVIDED TO AND REVIEWED BY THE BOARD MEMBERS PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS FULLY UNDERSTAND THE IMPORTANCE OF HAVING A CONFLICT OF INTEREST POLICY AND THE EFFECT OF ENFORCEMENT. THEREFORE, THE DIRECTORS WILL ASK QUESTIONS REGARDING THEIR OWN OR OTHER DIRECTORS' INVOLVEMENT IN ANY ACTIVITY THAT COULD BE A POTENTIAL CONFLICT OF INTEREST FOR THE COMPANY. BY HAVING TO FILL OUT A CONFLICT OF INTEREST FORM YEARLY, WE CAN ADDRESS ANY SUCH ISSUES EXPEDITIOUSLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS PAID BY THE PARENT COMPANY, IBERO-AMERICAN ACTION LEAGUE, INC., AND IS CHARGED TO IBERO-AMERICAN DEVELOPMENT CORPORATION VIA A MANAGEMENT FEE. FOR THE VICE PRESIDENT OF THE COMPANY, AND FOR ANY OTHER EMPLOYEE, COMPENSATION CHANGES INCLUDE A PERFORMANCE REVIEW. SUCH REVIEWS OCCUR YEARLY BEFORE ANY CHANGE IN COMPENSATION IS MADE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL & SUBCONTRACTING FEES: PROGRAM SERVICE EXPENSES 135,077. MANAGEMENT AND GENERAL EXPENSES 24,756. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 159,833. FORM 990 PART XII LINE 2C: THE ORGANIZATION HAS NOT CHANGED THEIR POLICIES OR PROCEDURES FROM THE PRIOR YEAR. IBERO-AMERICAN ACTION LEAGUE INC 124 EVERGREEN STREET ROCHESTER NY 14605 160954745 TO FOSTER GROWTH AND DEVELOPMENT, PRIMARILY NY 501(C)(3) LINE 7 N/A 0 BUENA VISTA HOUSING DEVELOPMENT FUND CORPORATION 124 EVERGREEN STREET ROCHESTER NY 14605 141871723 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 EDISON HOUSING DEVELOPMENT FUND CORPORATION 124 EVERGREEN STREET ROCHESTER NY 14605 161526969 RENTAL/PROPERTY MANAGEMENT OF LOW-INCOME HOUSING FOR DEVELOPMENTALLY DISABLE NY 501(C)(3) LINE 7 IBERO-AMERICAN ACTION LEAGUE INC 0 EL CAMINO HOUSING LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270696372 LOW INCOME HOUSING NY CAMINO DEL RAY N/A 0 0 EL CAMINO HOUSING II LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 364721413 LOW INCOME HOUSING NY CAMINO DEL RAY N/A 0 0 PUEBLO NUEVO I MM LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 833828064 LOW INCOME HOUSING NY N/A N/A 0 0 PUEBLO NUEVO II MM LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 844014660 LOW INCOME HOUSING NY N/A N/A 0 0 PUEBLO NUEVO I LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 371931898 LOW INCOME HOUSING NY N/A N/A 0 0 PUEBLO NUEVO II LLC 954 CLIFFORD AVENUE ROCHESTER NY 14621 844006199 LOW INCOME HOUSING NY N/A N/A 0 0 CAMINO DEL REY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270695396 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.00010 0 CAMINO DEL REY II INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 454211167 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.00010 0 PUEBLO NUEVO B CORPORATION 954 CLIFFORD AVENUE ROCHESTER NY 14621 862302002 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.79000 0 PUEBLO NUEVO MM CORPORATION 954 CLIFFORD AVENUE ROCHESTER NY 14621 850540935 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION S 1.00000 0 PUEBLO NUEVO I HDFC 954 CLIFFORD AVENUE ROCHESTER NY 14621 842032989 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 1.00000 0 PUEBLO NUEVO II HDFC 954 CLIFFORD AVENUE ROCHESTER NY 14621 844980945 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 1.00000 0 EL CAMINO HOUSING DEVELOPMENT FUND COMPANY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 270683522 NON-EQUITY MEMBER OF EL CAMINO HOUSING LLC NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 1.00000 0 EL CAMINO HOUSING II DEVELOPMENT FUND COMPANY INC 954 CLIFFORD AVENUE ROCHESTER NY 14621 454698249 NON-EQUITY MEMBER OF EL CAMINO HOUSING II LLC NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 1.00000 0 PUEBLO NUEVO II B CORPORATION 954 CLIFFORD AVENUE ROCHESTER NY 14621 862302002 LOW INCOME HOUSING NY IBERO-AMERICAN DEVELOPMENT CORPORATION C 0.00010 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 PUEBLO NUEVO II LLC K 21240 BOOK PUEBLO NUEVO I LLC D 450000 BOOK SCHEDULE R, PART IV - RELATED ORGANIZATIONS TAXABLE AS A CORPORATION: ELECTION UNDER IRC SEC. 168(H)(6)(F)(II) ======================================== IBERO-AMERICAN DEVELOPMENT CORPORATION, A TAX-EXEMPT ENTITY DEFINED IN 168(H)(6)(F)(II) OWNS 100% OF THE VOTING STOCK IN PUEBLO NUEVO MM CORP. WHICH MADE THE ELECTION UNDER 168(H)(6)(F)(II) ON 9/15/2022 TO NOT BE TREATED AS A TAX-EXEMPT ENTITY. IBERO-AMERICAN DEVELOPMENT CORPORATION, A TAX-EXEMPT ENTITY DEFINED IN 168(H)(6)(F)(II) OWNS 79% OF THE VOTING STOCK IN PUEBLO NUEVO B CORP. WHICH MADE THE ELECTION UNDER 168(H)(6)(F)(II) ON 10/14/2022 TO NOT BE TREATED AS A TAX-EXEMPT ENTITY. IBERO-AMERICAN DEVELOPMENT CORPORATION, A TAX-EXEMPT ENTITY DEFINED IN 168(H)(6)(F)(II) OWNS 79% OF THE VOTING STOCK IN PUEBLO NUEVO II B CORP. WHICH MADE THE ELECTION UNDER 168(H)(6)(F)(II) ON 8/22/2023 TO NOT BE TREATED AS A TAX-EXEMPT ENTITY.