2025-11-13T12:39:25-06:00 2024-12-31 812950760 SAX LLP 1040 AVENUE OF THE AMERICAS-16TH FL NEW YORK NY 10018 990 2024-01-01 132614139 WESTBETH CORP HOUSING DEVELOPMENT FUND COMPANY INC WEST 2126911500 55 BETHUNE STREET NEW YORK NY 10014 PETER MADDEN EXECUTIVE DIRECTOR 2126911500 2025-11-13 1 0 MIKE SCHALL P02024184 2122682804 2025-11-13 2024 2025-03-06 01:10:19Z JOSEPH P VERSACE 55 BETHUNE STREET NEW YORK NY 10014 24593351 0 X WWW.WESTBETH.ORG X 1967 NY WESTBETH IS A HOME FOR THE ARTS AND PROVIDES AFFORDABLE LIVE/WORK SPACES TO LOW-INCOME ARTISTS IN ALL DISCIPLINES. 10 10 26 10 0 0 215497 187514 10204733 10799524 -164415 45448 355276 204416 10611091 11236902 0 0 0 0 3104585 3340303 0 13500 31500 9417306 9507521 12521891 12861324 -1910800 -1624422 57758161 58291753 52356628 54228928 5401533 4062825 X WESTBETH A HOME FOR THE ARTS AND PROVIDES HOUSING AND RELATED SUPPORT SERVICES FOR ARTISTS. WESTBETH COMPRISES 384 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME ARTISTS AND THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS' PRODUCTION AND PRESENTATION SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION, THEATER AND PERFORMANCE SPACES -- FOR BOTH RESIDENTS AND NON-RESIDENTS. IT ALSO OFFERS SOCIAL SERVICE SUPPORT FOR AN INCREASINGLY ELDERLY POPULATION, MANY OF WHOM HAVE LIVED IN THE BUILDING SINCE IT OPENED IN 1970. 0 0 11249718 10799524 HOUSING AND RELATED SUPPORT SERVICES FOR ARTISTS. WESTBETH COMPRISES 384 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME ARTISTS AND THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS' WORK SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION AND THEATRE SPACES -- AND PROVIDES SOCIAL SERVICE SUPPORT FOR AN INCREASINGLY ELDERLY POPULATION, MANY OF WHOM HAVE LIVED IN THE BUILDING SINCE THE 1970'S. 11249718 1 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 26 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X PETER MADDEN 2126911500 55 BETHUNE STREET NEW YORK NY 10014 JOE VERSACE CHAIR 3.00 X X 0 0 0 JUDD LEVY VICE CHAIR 2.00 X X 0 0 0 ALINA LUNDRY TREASURER 3.00 X X 0 0 0 CHRISTINA MAILE SECRETARY 2.00 X X 0 0 0 SAMANTHA VINCENT DIRECTOR (THROUGH 6/24) 2.00 X 0 0 0 ADAM DAVIDSON DIRECTOR (THROUGH 6/24) 2.00 X 0 0 0 ELSIE MCCABE THOMPSON DIRECTOR 2.00 X 0 0 0 ERIN QUINN PURCELL DIRECTOR 2.00 X 0 0 0 GEORGE COMINSKIE DIRECTOR 2.00 X 0 0 0 ARVIND SOHONI DIRECTOR 2.00 X 0 0 0 AILEEN GRIBBEN DIRECTOR 2.00 X 0 0 0 MERILYN ROVIRA DIRECTOR 2.00 X 0 0 0 PETER MADDEN EXECUTIVE DIRECTOR 40.00 X 252911 0 9700 MIRIAM TASH COMMUNITY MANAGER 40.00 X 123183 0 25458 TODD SALLEY SUPER 40.00 X 100564 0 16730 476658 0 51888 3 0 1 0 HISTORICAL WINDOWS OF NEW YORK 119 W 22ND ST 2ND FLOOR NEW YORK NY 10011 APARTMENT RENOVATIONS 4275728 CTA ARCHITECTS PC 151 W 26TH ST 8F NEW YORK NY 10001 APARTMENT RENOVATIONS 1116643 ELEMENTAL ARCHITECTURE LLC 350 7TH AVE NEW YORK NY 10001 APARTMENT RENOVATIONS 665135 COLLADO ENGINEERING 445 HAMILTON AVE 608 WHITE PLAINS NY 10601 APARTMENT RENOVATIONS 296737 DENHAM WOLF REAL ESTATE SERVICE 520 8TH AVE 25TH FLOOR NEW YORK NY 10018 APARTMENT RENOVATIONS 290191 13 67514 120000 187514 RENTAL INCOME 531110 10799524 10799524 10799524 147304 147304 13254593 13356449 -101856 -101856 -101856 OTHER INCOME 900099 167015 167015 BUILDING SERVICES 531110 37401 37401 204416 11236902 10799524 0 249864 262611 105044 157567 2211809 1782616 429193 5150 4841 309 714426 676747 37679 146307 137518 8789 215776 215776 188691 188691 59475 59475 13500 13500 14868 14868 918078 783919 116159 18000 142767 111909 30858 65849 50328 15521 2128660 2128660 71555 71555 701526 701526 3225321 3225321 1067062 1067062 REPAIRS & MAINTENANCE 474227 474227 BAD DEBT 233666 233666 12861324 11249718 1580106 31500 672383 660578 287282 120555 1071634 931084 84139365 29785952 49519629 54353413 5598756 342850 608477 1883273 57758161 58291753 1140204 1345777 152845 94284 14333289 15886685 35070734 35070734 1659556 1831448 52356628 54228928 X 5401533 3962825 100000 5401533 4062825 57758161 58291753 -1624422 285714 0 X 0 1 X 1 0 X 557469 617282 312278 215497 187514 1890040 9008774 9089410 9429849 10204733 10799524 48532290 9566243 9706692 9742127 10420230 10987038 50422330 0 0 0 50422330 269821 291492 171846 205824 147304 1086287 269821 291492 171846 205824 147304 1086287 96670 193027 267120 355276 204416 1116509 9932734 10191211 10181093 10981330 11338758 52625126 0.95810 0.95680 0.02060 0.02380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2689780 2689780 79830827 28819653 51011174 1618758 966299 652459 54353413 TENANT SECURITY DEPOSITS 603735 DUE TO GOVERNMENT AGENCY 1227713 1831448 X 11507748 285714 285714 11222034 14868 14868 11236902 12846456 0 12846456 14868 14868 12861324 PART X, LINE 2: WESTBETH DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL, UNCERTAIN TAX POSITIONS. TAX FILINGS FOR PERIODS ENDING DECEMBER 31, 2021 AND LATER ARE SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. X X X 0 0 0 0 0 0 0 0 0 PETER MADDEN EXECUTIVE DIRECTOR 252911 0 0 0 0 0 0 0 9700 0 262611 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT TO THE FINANCE COMMITTEE VIA E-MAIL PRIOR TO BEING FILED WITH THE IRS. ALL MEMBERS OF THE FINANCE COMMITTEE WERE AFFORDED THE OPPORTUNITY TO ASK QUESTIONS AND OFFER EDITS. THE DECISION OF WHETHER TO MAKE EDITS WAS MADE BY THE STAFF PERSON IN CHARGE OF FINANCES WITHIN THE ORGANIZATION IN CONJUNCTION WITH CONSULTATION WITH OUR TAX PREPARER. ONCE THE FINANCE COMMITTEE APPROVES THE 990 ON BEHALF OF THE BOARD, IT IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A BOARD APPROVED CONFLICTS OF INTEREST POLICY. EACH BOARD MEMBER AND OFFICER MUST FILL OUT AN ANNUAL DECLARATION STATING THEY HAD NO CONFLICTS OR IF THERE ARE CONFLICTS THEY MUST IDENTIFY THE NATURE OF THEIR INTERESTED PARTY AND THESE ARE REVIEWED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE/COMPENSATION COMMITTEE REVIEWS SALARIES OF COMPARABLE ORGANIZATIONS AND REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR TO DETERMINE IF THE EXISTING SALARY FALLS WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY AND BENEFIT PACKAGE IS VOTED ON BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST.