2025-05-14T22:33:57-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 113440267 FAC HOMEOWNERSHIP HOUSING DEVELOPMENT FUND CORPORATION FACH 7182372017 621 DEGRAW STREET BROOKLYN NY 11217 MICHELLE DE LA UZ SECRETARY 7182372017 2025-05-14 1 1 MELISSA MODELSON P01603524 9143818900 2025-05-14 2023 2025-03-06 01:10:19Z MICHELLE DE LA UZ 621 DEGRAW STREET BROOKLYN NY 11217 154553 0 X N/A X 1998 NY THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING FOR QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN NEW YORK AREA. 3 2 0 2 0 0 25000 94500 71578 59860 0 0 5995 193 102573 154553 0 0 0 0 0 0 0 0 0 155308 142536 155308 142536 -52735 12017 502596 503916 174437 163740 328159 340176 THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE AN APARTMENT BUILDING FOR QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA. 0 0 82423 0 59860 THE CORPORATION WAS FORMED TO PROVIDE LOW-INCOME HOUSING FACILITIES AND OPERATE 6 RESIDENTIAL UNITS LOCATED AT 713 THIRD AVENUE IN BROOKLYN, NEW YORK (THE "PROJECT") UNDER THE CONFINES OF THE REGULATORY AGREEMENTS WITH THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT ("NYC HPD"). 82423 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 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 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 1 0 0 1 1 1 0 0 0 0 1 1 1 1 0 1 0 0 0 NY X X ANDREW HORROW 7182372017 621 DEGRAW STREET BROOKLYN NY 11217 MICHELLE DE LA UZ SECRETARY 0.50 34.50 X X 0 244820 10646 DANY CUNNINGHAM PRESIDENT 1.00 1.00 X X 0 0 0 JESSICA YAGER TREASURER 0.50 0.50 X X 0 0 0 0 244820 10646 0 0 1 0 0 84500 10000 94500 RENTAL INCOME 531110 59860 59860 59860 MISCELLANEOUS INCOME 900099 193 193 193 154553 59860 0 193 X 3801 3801 802 802 12500 12500 25681 25681 2924 1098 1826 41854 41854 780 780 28791 28791 12309 12309 REPAIRS AND MAINTENANCE 9002 9002 MISC. EXPENSES 4008 4008 BAD DEBT EXPENSE 84 84 142536 82423 60113 0 29350 9287 5602 20973 1068 1921 818690 350944 463268 467746 3308 3989 502596 503916 171129 147508 15 3308 3989 0 12228 174437 163740 X 328159 340176 328159 340176 502596 503916 12017 0 X X 0 1 X 0 0 X 25000 25000 94500 144500 81192 85318 81494 71578 59860 379442 81192 85318 106494 96578 154360 523942 0 21141 21141 21141 21141 502801 5995 193 6188 81192 85318 106494 102573 154553 530130 0.94840 0.98670 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 55532 55532 763158 350944 412214 467746 DUE TO AFFILIATES 12228 12228 X 154553 0 154553 0 154553 142536 0 142536 0 142536 PART IV, LINE 2B: FUNDS RECEIVED AS SECURITY DEPOSITS ARE HELD IN TRUST FOR THE TENANTS BY THE CORPORATION. THESE FUNDS ARE SEGREGATED IN A SEPARATE INTEREST-BEARING ACCOUNT FOR THE TENANTS' BENEFIT AND ARE NOT AVAILABLE FOR OTHER USES. PART X, LINE 2: THE CORPORATION RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CORPORATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS FOR PERIODS PRIOR TO JUNE 30, 2021. 0 0 0 0 0 0 0 0 0 MICHELLE DE LA UZ SECRETARY 0 244820 0 0 0 0 0 10646 0 0 0 255466 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE PROJECT IS MANAGED BY FIFTH AVENUE COMMITTEE INC. ("FAC"), A RELATED PARTY, PURSUANT TO A MANAGEMENT AGREEMENT. THE MANAGEMENT AGREEMENT PROVIDES FOR PROPERTY MANAGEMENT FEES OF 8% OF GROSS REVENUE COLLECTED. FOR THE YEAR ENDED JUNE 30, 2024, MANAGEMENT FEES TOTALED $3,801. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS FIFTH AVENUE COMMITTEE, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE ORGANIZATION, FIFTH AVENUE COMMITTEE, INC. SHALL APPOINT THE BOARD MEMBERS AT THE ANNUAL MEETING OF THE MEMBER. A VACANCY ON THE BOARD ARISING AT ANY TIME AND FROM ANY CAUSE MAY BE FILLED FOR THE UNEXPIRED TERM BY THE MEMBER. FORM 990, PART VI, SECTION A, LINE 7B ANY DIRECTOR MAY BE REMOVED WITH OR WITHOUT CAUSE BY THE MEMBER. THE MEMBER SHALL HAVE THE FOLLOWING POWERS: 1. TO MAKE, ALTER, AMEND AND REPEAL THE BYLAWS OF CERTIFICATE OF INCORPORATION OF THE CORPORATION. 2. PETITION FOR JUDICAL DISSOLUTION 3. DISPOSING OF ALL OR SUBSTANTIALLY ALL, OF THE ASSETS OF THE CORPORATION 4. APPROVE OF A PLAN OF MERGER 5. AUTHORIZE A PLAN OF NON JUDICIAL DISSOLUTION 6. REVOKE A VOLUNTARY DISSOLUTION PROCEEDING FORM 990, PART VI, SECTION A, LINE 8A THE ORGANIZATION DOES NOT KEEP SEPARATE MINUTES - THE ORGANIZATION IS INCLUDED IN THE QUARTERLY MINUTES OF THE PARENT ORGANIZATION, FIFTH AVENUE COMMITTEE, INC. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NOT ESTABLISHED FORMAL SUB COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE OUTSIDE AUDITOR PREPARES A DRAFT SET OF TAX RETURNS TO BE REVIEWED BY THE MANAGEMENT COMPANY. CORRECTIONS AND EDITS ARE DISCUSSED AND MADE, IF NECESSARY. AN OFFICER OF THE ORGANIZATION REVIEWS THE TAX RETURNS AS WELL. THE OUTSIDE AUDITOR PREPARES A FINAL SET OF TAX RETURNS FOR SIGNATURE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS ADOPTED THE CONFLICT OF INTEREST POLICY AS USED BY THE SPONSOR/MANAGER OF THE ORGANIZATION WHICH IS ALSO A 501(C)(3). THE DIRECTOR OF FINANCE & IT OF THE MANAGEMENT COMPANY IS RESPONSIBLE FOR FINANCIAL RELATIONSHIPS BETWEEN THE ORGANIZATION AND OTHER ENTITIES. IF A POTENTIAL CONFLICT OF INTEREST ISSUE ARISES, THE DIRECTOR OF FINANCE & IT FOR FAC ADDRESSES THIS MATTER WITH THE DIRECTOR OF PROPERTY MANAGEMENT FOR RESOLUTION. AT TIMES, THE MANAGEMENT COMPANY CONSULTS WITH THE OUTSIDE AUDITOR ABOUT POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION FORM 990, FORM 1023, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G MAINTENANCE SERVICES: PROGRAM SERVICE EXPENSES 25,681. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,681. FORM 990, PART XII, LINE 2C: THE FULL BOARD ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. 130 29TH STREET HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW STREET BROOKLYN NY 11217 204732803 PROVIDE LOW INCOME HOUSING NY 501(C)(4) FIFTH AVENUE COMMITTEE INC 0 50TH STREET HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW STREET BROOKLYN NY 11217 113270117 PROVIDE LOW INCOME HOUSING NY 501(C)(3) LINE 10 FIFTH AVENUE COMMITTEE INC 0 573 WARREN STREET HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW STREET BROOKLYN NY 11217 113143585 PROVIDE LOW INCOME HOUSING NY 501(C)(3) LINE 7 FIFTH AVENUE COMMITTEE INC 0 575 FIFTH AVENUE HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW STREET BROOKLYN NY 11217 208954587 PROVIDE LOW INCOME HOUSING NY 501(C)(4) FIFTH AVENUE COMMITTEE INC 0 588 PARK PLACE HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW STREET BROOKLYN NY 11217 450481177 ACQUIRES AND REHABILITATES MULTIPLE-DWELLING BUILDINGS NY 501(C)(3) LINE 10 FIFTH AVENUE COMMITTEE INC 0 FAC ADVANCE HOUSING DEVELOPMENT FUND CORPORATION 621 DEGRAW 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