2025-10-16T14:09:22-05:00 2024-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 50 ROCKEFELLER PLAZA NEW YORK NY 10020 990 2024-01-01 133175057 SOUTHWEST 141 STREET HOUSING DEVELOPMENT FUND COMPANY INC SOUT 5162484817 1122 FRANKLIN AVENUE SUITE 406 GARDEN CITY NY 11530 MSGR KEVIN NELAN PRESIDENT 5162484817 2025-10-14 1 1 AMANDA ADAMS P00748038 2126971000 2025-10-14 2024 2025-03-06 01:10:19Z MSGR KEVIN NELAN 1122 FRANKLIN AVENUE SUITE 406 GARDEN CITY NY 11530 1935859 0 X N/A X 1983 NY TO PROVIDE RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES, OR PERSONS WITH VERY LOW INCOME. 4 4 5 0 0 0 0 0 1817581 1918346 18085 17513 0 0 1835666 1935859 0 0 0 0 278724 332057 0 0 0 1897445 1640769 2176169 1972826 -340503 -36967 7306358 7265413 12914420 12910442 -5608062 -5645029 TO PROVIDE RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES OR PERSONS WITH VERY LOW INCOME. 0 0 1813171 1918346 THE CORPORATION OWNS AND OPERATES 69 RENTAL APARTMENTS FOR ELDERLY PERSONS, PERSONS WITH DISABILITIES, AND PERSONS WITH VERY LOW INCOME. 1813171 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X THE WAVECREST MANAGEMENT TEAM 7184631200 87-14 116TH STREET RICHMOND HILL NY 11418 X MSGR KEVIN NELAN PRESIDENT/DIRECTOR 5.00 X X 0 0 0 DEACON RODNEY BECKFORD TREASURER/DIRECTOR 5.00 X X 0 0 0 PEDRO MORALES DIRECTOR 5.00 X 0 0 0 THERESA MADDICKS DIRECTOR 5.00 X 0 0 0 0 0 0 0 0 0 0 MG SECURITY SERVICES LLC 7 WEST 36TH STREET 12TH FLOOR NEW YORK NY 10018 SECURITY SERVICES 142321 1 RENTAL REVENUE 531110 1918346 1918346 1918346 17513 17513 1935859 1918346 0 17513 215201 169943 45258 6604 6604 92080 92080 18172 18172 63084 63084 45322 44927 395 31014 31014 136219 136219 13585 13585 597006 597006 274931 274931 392892 392892 69921 68239 1682 BAD DEBT 11153 11153 5642 1005 4637 1972826 1813171 159655 0 99191 484029 1125545 1079048 33065 31844 127478 127854 12845288 7302650 5921079 5542638 0 0 7306358 7265413 399892 533836 10535638 10338266 1978890 2038340 12914420 12910442 X -5608062 -5645029 -5608062 -5645029 7306358 7265413 -36967 0 X 0 1 X 1 1 1 X 1721935 1751430 1759980 1817581 1918346 8969272 1721935 1751430 1759980 1817581 1918346 8969272 0 584380 615192 1199572 584380 615192 1199572 7769700 1853 1682 6329 18085 17513 45462 1853 1682 6329 18085 17513 45462 1723788 1753112 1766309 1835666 1935859 9014734 0.86190 0.92980 0.00500 0.00360 X 34607 34607 12313240 6960507 5352733 238461 132689 105772 258980 209454 49526 5542638 DEVELOPER FEES PAYABLE 1867488 OTHER NOTES PAYABLE - SURPLUS CASH 128632 ACCRUED INTEREST - SURPLUS CASH 20581 TENANTS' SECURITY DEPOSITS PAYABLE 19716 PREPAID REVENUE 1923 2038340 X 1965738 29879 29879 1935859 0 1935859 2002705 29879 29879 1972826 0 1972826 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE EVALUATION OF THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CORPORATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE TAX POSITIONS, AND THEN RECOGNIZING THE TAX BENEFIT THAT IS MORE LIKELY THAN NOT REALIZABLE. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE IN THE CURRENT REPORTING PERIOD. MANAGEMENT BELIEVES ANY SUCH POSITIONS WOULD BE IMMATERIAL TO THE OVERALL FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ADMINISTRATIVE RENT-FREE UNIT 29,879. PART XII, LINE 2D - OTHER ADJUSTMENTS: ADMINISTRATIVE RENT-FREE UNIT 29,879. FORM 990, PART VI, SECTION A, LINE 3 THE WAVECREST MANAGEMENT TEAM, LTD. MANAGES THE DAY TO DAY OPERATIONS OF THE APARTMENTS INCLUDING THE SUPERVISION OF PERSONNEL MAINTAINING THE BUILDINGS. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS THE ASSOCIATION OF NEW YORK CATHOLIC HOMES, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE ORGANIZATION ELECTS THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS REQUIRE THE VOTE OF A MAJORITY OF THE DIRECTORS OF THE SOLE MEMBER: 1. ELECTION OF THE CHAIR OF THE BOARD; 2. ANY AMENDMENT TO THE CERTIFICATE OF INCORPORATION, BYLAWS, OR MISSION STATEMENT; 3. APPROVAL OF ANY MAJOR CAPITAL IMPROVEMENT WITH A COST IN EXCESS OF $100,000; 4. APPROVAL OF ANY DEBT INCURRENCE SECURED BY THE PROPERTY, REVENUES, OR OTHER ASSETS OF THE ORGANIZATION; 5. APPROVAL OF ANY UNSECURED DEBT INCURRENCE IN AN AMOUNT GREATER THAN (I) THREE MILLION DOLLARS OR (II) 5% OF THE ORGANIZATION'S OPERATING BUDGET; 6. APPROVAL OF ANY TRANSACTION THAT REQUIRES APPROVAL IN ACCORDANCE WITH THE MEMBER'S BYLAWS; AND 7. APPROVAL OF THE ESTABLISHMENT OF A NEW RELATED ENTITY OF THE ORGANIZATION. THE FOLLOWING ACTIONS REQUIRE THE VOTE OF TWO-THIRDS OF THE DIRECTORS OF THE SOLE MEMBER: 1. APPROVAL OF (I) THE PURCHASE, SALE, MORTGAGE OR LEASE OF REAL PROPERTY WHICH CONSTITUTES A MATERIAL PORTION OF THE ASSETS OF THE ORGANIZATION OR (II) THE SALE, ASSIGNMENT, OR OTHER DISPOSITION OF ALL OR A MATERIAL PORTION OF THE ASSETS OF THE ORGANIZATION; 2. APPROVAL OF ANY MERGER, CONSOLIDATION, PURCHASE OR JOINT OPOERATING AGREEMENT INVOLVING THE ORGANIZATION; 3. APPROVAL OF ANY PLAN OF DISSOLUTION OR LIQUIDATION OF THE ORGANIZATION; 4. REMOVAL WITH OR WITHOUT CAUSE OF ANY OR ALL OF THE DIRECTORS; AND 5. REMOVAL WITH OR WITHOUT CAUSE OF ANY OR ALL OF THE OFFICERS ELECTED BY THE MEMBER, OR ELECTED BY THE BOARD WITH THE APPROVAL OF THE MEMBER. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 (BEFORE IT IS FINALIZED AND SENT TO IRS) IS SENT TO THE ORGANIZATION'S LEGAL COUNSEL, WHO REVIEWS AND DISCUSSES THE RETURN WITH THE GOVERNING BODY ALONG WITH THE UNDERLYING FINANCIAL STATEMENTS. ANY SUGGESTED CHANGES OR COMMENTS AND QUESTIONS ARE THEN DISCUSSED WITH THE CPA BY A CONFERENCE CALL. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR OR TRUSTEE IS REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS IN A BOARD MEETING. IF AN ITEM OF CONFLICT COMES TO SURFACE, THE BOARD DISCUSSES AND THOSE WITHOUT A CONFLICT VOTE ON IT BEFORE AWARDING ANY CONTRACTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ETC. ARE MADE AVAILABLE TO PUBLIC UPON REQUEST. THE COPIES OF THESE DOCUMENTS ARE KEPT AT THE MANAGING AGENT'S OFFICE AND ONCE REQUESTED, THE AGENT WILL MAIL SUCH COPIES BY REGULAR MAIL. ASSOCIATION OF NEW YORK CATHOLIC HOMES INC 488 MADISON AVENUE 3RD FLOOR NEW YORK NY 10022 270335937 PROTECT, PRESERVE, AND DEVELOP AFFORDABLE HOUSING NY 501(C)(3) LINE 1 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0