2025-11-11T08:00:43+00:00 2024-12-31 346565596 ERNST & YOUNG US LLP 1 MANHATTAN WEST NEW YORK NY 10001 990 2024-01-01 262894911 SILVERCREST SENIOR HOUSING DEVELOPMENT FUND CORPORATION SILV 7184804065 86-19 144TH STREET BRIARWOOD NY 114353109 ELIAS M NEMNON VICE PRESIDENT/CFO 2025-11-11 false LAURA MAYO P01962945 2127734931 2025-11-11 2024 2025-03-06 01:10:19Z ELIAS M NEMNON 86-19 144TH STREET BRIARWOOD NY 114353109 878622 false X N/A X 2008 NY TO PROVIDE AFFORDABLE HOUSING FOR THE VERY-LOW INCOME ELDERLY POPULATION. 11 2 0 0 0 350 160 840191 876022 72 75 21233 2365 861846 878622 0 0 0 0 0 0 0 0 1365999 1458847 1365999 1458847 -504153 -580225 13663608 13341082 18673706 18931405 -5010098 -5590323 SILVERCREST SENIOR HOUSING IS PLEDGED TO CONTINUE THE MISSION OF THE SILVERCREST CENTER FOR NURSING AND REHABILITATION. THAT MISSION IS: "GIVING QUALITY TO LIFE". false false 1183538 878387 OUR PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR THE VERY-LOW INCOME ELDERLY POPULATION THROUGH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECTION 202 PROGRAM WHICH OFFERS RENTAL ASSISTANCE FOR SENIORS WHO MEET THE REQUIREMENTS OF THE FEDERAL PROGRAM. WE DO NOT DISCRIMINATE BASED ON RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, OR DISABILITY AND COMPLY WITH ALL FEDERAL, STATE AND LOCAL FAIR HOUSING AND CIVIL RIGHTS LAWS AND WITH HUD EQUAL OPPORTUNITY REQUIREMENTS. 1183538 true false false false false false false false true false true false false false true false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false false true 1 0 true 0 false false false false false false false false false false false false X 11 2 false true false false true true true false false false false false true true true true true true false false false false NY X ELIAS M NEMNON 7184804065 86-19 144TH STREET BRIARWOOD NY 114353109 ELIAS M NEMNOM TRUSTEE/CHIEF FINANCIAL OFFICER 1.0 59.0 X X 0 382350 47546 KIMLEE ROLDAN-SANCHEZ TRUSTEE/PRESIDENT 10.0 50.0 X X 0 516990 104827 ALEX SOLOVEY TRUSTEE 1.0 0 X 0 0 0 CAROLINE KEANE TRUSTEE 1.0 39.0 X 0 321309 39098 JACLYN MUCARIA TRUSTEE (THRU 4/2024) 1.0 59.0 X 0 1687371 31553 JOSEPH A IENUSO TRUSTEE 1.0 59.0 X 0 1878488 73256 LUCAN RODRIGUES TRUSTEE (THRU 3/2024) 1.0 59.0 X 0 107801 15861 MARGARET MAXWELL-WELLINGTON TRUSTEE 1.0 59.0 X 0 259036 57423 MICHAEL SCHRIEBER TRUSTEE 1.0 0 X 0 0 0 NANCY O'TOOLE TRUSTEE 1.0 34.0 X 0 435589 57445 NAZIM B MALATYALI TRUSTEE 1.0 59.0 X 0 947738 87553 RICHARD EINWECHTER TRUSTEE/CHAIRMAN 1.0 59.0 X 0 1027556 88753 RICHARD EVANS TRUSTEE 1.0 59.0 X 0 1096601 87447 MICHELE RYGA TREASURER 1.0 34.0 X 0 424611 21676 MICHELLE YUEN BLANCO SECRETARY 1.0 34.0 X 0 309487 59629 0 9394927 772067 0 false true false 0 160 160 RENTAL INCOME AND FEES 531110 876022 876022 0 0 0 0 876022 75 75 0 0 0 0 0 MISC. INCOME 900099 1533 1533 LAUNDRY AND VENDING 900099 832 832 0 0 0 0 2365 878622 878387 0 75 X 123096 123096 61289 61289 443150 352226 90924 0 81310 81310 4661 4661 282279 282279 2000 2000 461062 461062 0 0 0 0 1458847 1183538 275309 0 698148 750804 0 0 0 0 88395 128226 18520158 6091970 12849283 12428188 0 0 27782 33864 13663608 13341082 187556 293717 27782 27849 0 0 16613100 16613100 1845268 1996739 18673706 18931405 X -5010098 -5590323 -5010098 -5590323 13663608 13341082 -580225 0 X false true false false X 7800 7800 9500 350 160 25610 746530 785140 808295 840191 876022 4056178 0 0 0 754330 792940 817795 840541 876182 4081788 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4081788 607 618 73 72 75 1445 0 607 618 73 72 75 1445 0 11323 914 1748 21233 2365 37583 766260 794472 819616 861846 878622 4120816 0.99053 0.99039 0 0.0 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - LAUDRY AND VENDING INCOME, COLUMN A - 724.0, COLUMN B - 714.0, COLUMN C - 1748.0, COLUMN D - 1548.0, COLUMN E - 832.0, COLUMN F - 5566.0; DESCRIPTION - MISCELLANEOUS, COLUMN A - 593.0, COLUMN B - 200.0, COLUMN C - , COLUMN D - 73.0, COLUMN E - 1533.0, COLUMN F - 2399.0; DESCRIPTION - INSURANCE CLAIM, COLUMN A - 10006.0, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 10006.0; DESCRIPTION - REBATES, COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - 19612.0, COLUMN E - , COLUMN F - 19612.0; false true X 625669 625669 17689866 5963504 11726362 171223 113762 57461 33400 14704 18696 12428188 Federal Income Taxes DUE TO RELATED ORGANIZATION 1996739 1996739 878622 0 0 878622 0 0 878622 1458847 0 0 1458847 0 0 1458847 Schedule D, Part IV, Line 2b Explanation of escrow agreement THE FUND IS REQUIRED TO PLACE TENANT SECURITY DEPOSITS INTO AN INTEREST BEARING ACCOUNT. ALL TENANT SECURITY DEPOSITS ARE CONSIDERED THE PROPERTY OF THE TENANT AND MAY NOT BE COMMINGLED WITH PERSONAL MONIES OR BECOME AN ASSET OF THE FUND. UPON CESSATION OF EACH TENANT'S STAY AT THE FUND, THE SECURITY DEPOSIT IS RETURNED TO THE TENANT OR A FAMILY MEMBER. false false false false false false false false false ELIAS M NEMNOM TRUSTEE/CHIEF FINANCIAL OFFICER 0 348401 0 33949 0 0 0 27600 0 19946 0 429896 0 0 KIMLEE ROLDAN-SANCHEZ TRUSTEE/PRESIDENT 0 400058 0 103000 0 13932 0 55605 0 49222 0 621817 0 0 RICHARD EINWECHTER TRUSTEE/CHAIRMAN 0 522165 0 449604 0 55787 0 55429 0 33324 0 1116309 0 0 RICHARD EVANS TRUSTEE 0 593771 0 419913 0 82917 0 35324 0 52123 0 1184048 0 0 JOSEPH A IENUSO TRUSTEE 0 948221 0 765375 0 164892 0 25590 0 47666 0 1951744 0 0 CAROLINE KEANE TRUSTEE 0 308919 0 6000 0 6390 0 24409 0 14689 0 360407 0 0 NAZIM B MALATYALI TRUSTEE 0 536782 0 324179 0 86777 0 26173 0 61380 0 1035291 0 0 MARGARET MAXWELL-WELLINGTON TRUSTEE 0 232405 0 26631 0 0 0 21246 0 36177 0 316459 0 0 JACLYN MUCARIA TRUSTEE (THRU 4/2024) 0 323350 0 477371 0 886650 0 0 0 31553 0 1718924 0 30292 NANCY O'TOOLE TRUSTEE 0 289291 0 100868 0 45430 0 26980 0 30465 0 493034 0 0 MICHELLE YUEN BLANCO SECRETARY 0 268223 0 41000 0 264 0 14960 0 44669 0 369116 0 0 MICHELE RYGA TREASURER 0 382968 0 40000 0 1643 0 18169 0 3507 0 446287 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation COMPENSATION DECISIONS FOR THE PRESIDENT WAS DETERMINED BY A RELATED ORGANIZATION FOLLOWING THAT ORGANIZATION'S COMPENSATION POLICY. Form 990, Part VI, Line 15 SILVERCREST SENIOR HOUSING DEVELOPMENT FUND CORPORATION, INC. (THE "CORPORATION") HAS NO EMPLOYEES. THE INDIVIDUALS IDENTIFIED HEREIN AS OFFICERS OF THE CORPORATION ARE EMPLOYED AND COMPENSATED BY RELATED ORGANIZATIONS, THE NEW YORK AND PRESBYTERIAN HOSPITAL (THE "HOSPITAL") OR SILVERCREST CENTER FOR NURSING AND REHABUILITATION (THE "NURSING HOME"). THESE INDIVIDUALS PERFORM SERVICES FOR THE CORPORATION, AND IN SOME CASES OTHER RELATED ORGANIZATIONS, BY ARRANGEMENT BETWEEN THE HOSPITAL AND SUCH ORGANIZATION(S), AS SET FORTH IN SCHEDULE R, THE CORPORATION AND THE HOSPITAL/NURSING HOME ARE RELATED ORGANIZATIONS. THE ORGANIZATION'S OFFICER'S HAVE NO INFLUENCE IN THE COMPENSATION PROCESS PERFORMED BY THE RELATED ORGANIZATION. Form 990, Part VI, Line 3 Delegation of management duties THE SILVERCREST CENTER FOR NURSING AND REHABILITATION ("SCNR"), A RELATED TAX-EXEMPT ORGANIZATION, PERFORMS MANAGEMENT DUTIES AND DIRECT SUPERVISION, INCLUDING BUILDING SUPERINTENDENT AND PROGRAM COORDINATOR SERVICES, FOR SILVERCREST SENIOR HOUSING DEVELOPMENT FUND CORPORATION. THE FEE PAID TO THE SCNR FOR SERVICES WAS $123,096 DURING CALENDAR YEAR 2024. Form 990, Part VI, Line 6 Classes of members or stockholders THE FUND IS RELATED TO SILVERCREST CENTER FOR NURSING AND REHABILITATION (SCNR) THROUGH COMMON BOARD MEMBERS AND COMMON GOALS. THE MEMBERS OF THE FUND ARE SELECTED BOARD MEMBERS AND EXECUTIVES OF SCNR WHO HAVE THE SOLE AUTHORITY TO ELECT AND REMOVE THE BOARD MEMBERS OF THE FUND. SCNR IS A MEMBERSHIP CORPORATION WHOSE MEMBERS ARE SELECTED BY NEW YORK PRESBYTERIAN HEALTHCARE SYSTEM, INC ("SYSTEM, INC."), WHICH IS A TAX-EXEMPT ORGANIZATION WHOSE MEMBERS ARE SELECTED BY NEW YORK-PRESBYTERIAN FOUNDATION, INC. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE FUND IS RELATED TO SILVERCREST CENTER FOR NURSING AND REHABILITATION (SCNR) THROUGH COMMON BOARD MEMBERS AND COMMON GOALS. THE MEMBERS OF THE FUND ARE SELECTED BOARD MEMBERS AND EXECUTIVES OF SCNR WHO HAVE THE SOLE AUTHORITY TO ELECT AND REMOVE THE BOARD MEMBERS OF THE FUND. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders (A) THE MEMBERS SHALL HAVE THE SOLE AUTHORITY TO ESTABLISH FROM TIME TO TIME THE NUMBER OF TRUSTEES TO BE ELECTED AT LARGE, TO ELECT TRUSTEES TO BE ELECTED AT LARGE AND TO REMOVE TRUSTEES, INCLUDING TRUSTEES SERVING BY REASON OF THEIR OFFICE, WITH OR WITHOUT CAUSE. (B) THE APPROVAL OF THE MEMBERS SHALL BE REQUIRED FOR (1) THE ELECTION OR THE REMOVAL BY THE BOARD OF THE CHIEF FINANCIAL OFFICER, CHIEF MEDICAL OFFICER AND CHIEF INFORMATION OFFICER, IF ANY, OR ANY OTHER CORPORATE OFFICER WHOSE POWERS AND DUTIES INCLUDE THOSE WHICH USUALLY APPERTAIN TO SUCH OFFICES, (2) THE AMENDMENT OF THE CERTIFICATE OF INCORPORATION OR BY-LAWS OF THE CORPORATION (3) THE DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION, (4) THE MERGER OR CONSOLIDATION OF THE CORPORATION WITH ANOTHER ENTITY OR (5) THE DISSOLUTION OF THE CORPORATION. EXCEPT AS MAY BE LIMITED BY APPLICABLE LAW GOVERNING HEALTH CARE INSTITUTIONS, THE MEMBERS SHALL HAVE SUCH OTHER POWERS AND AUTHORITY AS ARE AFFORDED TO THE MEMBERS UNDER THE CORPORATION'S CERTIFICATE OF INCORPORATION OR GENERALLY TO MEMBERS OF NOT-FOR-PROFIT CORPORATIONS UNDER THE LAWS OF THE STATE OF NEW YORK. Form 990, Part VI, Line 8a Documentation of meetings held by governing body THE ORGANIZATION DID NOT KEEP BOARD MINUTES FOR THE YEAR. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990, Part VI, Line 11b Review of form 990 by governing body MEMBERS OF THE NEWYORK-PRESBYTERIAN HOSPITAL (NYPH) FINANCE DEPARTMENT(FINANCE) COORDINATED AND COMPLETED ALL OF THE INFORMATION REQUIRED FOR FORM 990, ACCESSING VARIOUS RESOURCES INCLUDING, LEGAL, HUMAN RESOURCES, CORPORATE COMPLIANCE, DEVELOPMENT, AND OTHER DEPARTMENTS AS NEEDED. THE FOLLOWING IS THE PROCESS FOR REVIEW: SENIOR FINANCE EXECUTIVES REVIEW THE RETURN IN CONJUNCTION WITH ERNST & YOUNG U.S. LLP, PAID PREPARER, PRIOR TO SUBMISSION TO THE SILVERCREST HOUSING BOARD OF TRUSTEES. THE BOARD OF TRUSTEE REVIEWS THE 990. THE CORPORATION FILES THE 990 UPON FINAL REVIEW. Form 990, Part VI, Line 12c Conflict of interest policy EACH BOARD MEMBER, AND ANY OFFICER OR KEY PERSON PRESENTING A PROPOSED TRANSACTION OR OTHER MATTER TO THE BOARD, SHALL DISCLOSE PROMPTLY AND IN GOOD FAITH TO THE BOARD SUCH INDIVIDUAL'S INTEREST IN A PROPOSED TRANSACTION OR OTHER MATTER TO BE CONSIDERED BY THE BOARD. THE INDIVIDUAL MAY NOT PARTICIPATE IN THE DELIBERATIONS OF THE BOARD OR USE PERSONAL INFLUENCE IN ITS MATTERS. FOLLOWING ANY SUCH DISCLOSURE, AND AFTER SUCH DUE DILIGENCE AND SUCH DEVELOPMENT AND CONSIDERATION OF OTHER ALTERNATIVES, IF ANY, AS THE BOARD SHALL DEEM APPROPRIATE, THE BOARD MAY, IN ITS DISCRETION, AUTHORIZE OR APPROVE THE PROPOSED TRANSACTION OR OTHER MATTER AS AT LEAST AS FAIR AND REASONABLE TO SILVERCREST AS WOULD OTHERWISE BE OBTAINABLE BY SILVERCREST. SUCH ACTIONS SHALL BE BY A VOTE SUFFICIENT FOR SUCH PURPOSE WITHOUT COUNTING THE VOTE OR VOTES OF SUCH INTERESTED PERSON OR PERSONS AND SUCH PERSON OR PERSONS MAY NOT PARTICIPATE IN DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING. NO EMPLOYEE, MEMBER OF THE MEDICAL STAFF OR ANY OTHER PERSON RECEIVING COMPENSATION DIRECTLY OR INDIRECTLY FROM A SILVERCREST ORGANIZATION SHALL SERVE AS A MEMBER OF A BOARD COMMITTEE RESPONSIBLE FOR AUDIT AND CORPORATE COMPLIANCE OR EXECUTIVE COMPENSATION MATTERS. UPON REASONABLE BELIEF THAT A BOARD MEMBER, OFFICER OR KEY PERSON FAILED TO COMPLY WITH THE POLICIES AND DIRECTIVES SET FORTH IN THIS POLICY STATEMENT, THE BOARD OF SILVERCREST OR AUDIT AND CORPORATE COMPLIANCE COMMITTEE OF SILVERCREST SHALL INFORM THE INDIVIDUAL OF THE BASIS OF THE BELIEF AND PROVIDE AN OPPORTUNITY TO EXPLAIN THE NONCOMPLIANCE. IF AFTER HEARING THE RESPONSE FROM THE INDIVIDUAL AND MAKING FURTHER APPROPRIATE INVESTIGATIONS, THE BOARD OR AUDIT AND CORPORATE COMPLIANCE COMMITTEE DETERMINES THAT THE INDIVIDUAL HAS, IN FACT, FAILED TO COMPLY WITH SUCH POLICIES AND DIRECTIVES, IT SHALL TAKE OR RECOMMEND APPROPRIATE CORRECTIVE ACTION. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. EXTERNAL REQUESTS FOR OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE REVIEWED FOR VALIDITY. THESE REQUESTS ARE THEN GRANTED IF DEEMED APPROPRIATE. Form 990, Part IX, Line 11g Other Fees SECURITY - Total Expense: 226459, Program Service Expense: 226459, Management and General Expenses: , Fundraising Expenses: ; PURCHASED SERVICES - Total Expense: 143876, Program Service Expense: 52952, Management and General Expenses: 90924, Fundraising Expenses: ; MAINTENANCE CONTRACTS - Total Expense: 72815, Program Service Expense: 72815, Management and General Expenses: , Fundraising Expenses: ; NEW YORK-PRESBYTERIAN FOUNDATION INC 525 E 68TH ST BOX 156 NEW YORK NY 10065 134153668 SUPPORT ORG. 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