2024-10-03T13:44:26-05:00 2023-12-31 WITHUMSMITHBROWN PC 1411 BROADWAY 9TH FLOOR NEW YORK NY 10018 990 2023-01-01 133010578 FORDHAM BEDFORD HOUSING CORPORATION % HENG LY FORD 7183673200 2751 GRAND CONCOURSE BRONX NY 104683001 HENG LY CEO 7183673200 2024-09-26 true true JAMES HUANG CPA P01513328 2127519100 2023 2024-10-15 13:58:12Z HENG LY 2751 GRAND CONCOURSE BRONX NY 104683001 8743828 false X HTTP://WWW.FORDHAM-BEDFORD.ORG/ X 1980 NY SEE SCHEDULE O 11 10 60 0 279449 190975 6898119 8069115 307653 412988 -39317 15348 7445904 8688426 0 10000 0 0 5186150 5312775 0 0 189229 1833586 1521416 7019736 6844191 426168 1844235 71176424 74290867 7489861 7659655 63686563 66631212 X FBHC WAS FORMED FOR THE PURPOSE OF PROMOTING, DEVELOPING AND MANAGING LOW AND MODERATE INCOME HOUSING, PROVIDING ASSISTANCE TO LOW INCOME FAMILIES AND COMBATING COMMUNITY DETERIORATION IN THE FORDHAM BEDFORD SECTION AND SURROUNDING AREAS OF THE NORTHWEST BRONX. false true 4791382 5576031 FBHC PROVIDES DIRECT PROPERTY MANAGEMENT FOR LOW INCOME HOUSING BUILDINGS. 349756 368925 FBHC PROVIDES SOCIAL SERVICE TO THE COMMUNITY. THIS CONSISTS OF AFTER-SCHOOL PROGRAMS, SUMMER RECREATIONAL ACTIVITIES FOR THE CHILDREN, ENGLISH AS A SECOND LANGUAGE AND CITIZENSHIP COURSES, AMONG OTHERS. 1072292 2124159 FBHC DEVELOPS AND RENOVATES MULTIFAMILY AFFORDABLE RENTAL HOUSING PROJECTS IN THE NORTHWEST BRONX. 6213430 true true false false false false false false false false true false false true true true false true false false false false false false true false false false false true false false false false false false false false false false false false true true true true false true 97 0 60 true false false false false false false false false false false X 11 10 false false false false false false false true true false false true true true true true true true true true true NY X X HENG LY 7183673200 2751 GRAND CONCOURSE BRONX NY 10468 HENG LY Chief executive officer 40.0 0.5 X X 355900 0 68249 ROBERT DONOVAN DIRECTOR OF CONSTRUCTION 40.0 0.0 X 192336 0 55037 MANUELA SCHAUDT EXECUTIVE DIRECTOR 0.0 40.0 X 0 223347 17608 PHUONG H VANG DIRECTOR OF FINANCIAL SERVICES 40.0 0.5 X 205488 0 32701 ROXANNA CHOWDHRY EXECUTIVE DIRECTOR 0.0 40.0 X 0 179626 52229 GERARD WOLLWEBER DIRECTOR OF LEASING 40.0 0.0 X 195979 0 21863 Rachel Nguyen Asst. Director fin. services 40.0 0.5 X 162288 0 52841 ERIKA MARTINEZ Vice President 0.5 0.5 X 0 0 0 CHERYL HARPER Director 0.5 0.5 X 0 0 0 JOSE NORAT Director 0.5 0.5 X 0 0 0 Eileen Hogan Director 0.5 0.5 X 0 0 0 IVAN BOHORQUEZ DIRECTOR 0.5 0.5 X 0 0 0 William Daley Secretary 0.5 0.5 X 0 0 0 LUIS ORTEGA President/treasurer 0.5 0.5 X 0 0 0 S Lemuria Alawode-el director 0.5 0.5 X 0 0 0 Maribel Montilla Director 0.5 0.5 X 0 0 0 Luis Lugo director 0.5 0.5 X 0 0 0 1111991 402973 300528 5 false true false EAST COAST PETROLEUM 340 JACKSON AVENUE BRONX NY 10454 oil & gas service 2331015 ALL PRO CLEANING AND RESTORATION 75 VIRGINIA ROAD NORTH WHITE PLAIN NY 10603 Repair & Replacement 1842330 HARROW LUMBER CO 75 WEST TREMONT AVENUE BRONX NY 10453 PROFESSIONAL SERVICE 597633 BAILEY REPAIR SERVICE 2432 UNIVERSITY AVENUE B BRONX NY 10468 repair service 426736 EMERGENCY BOILER AND PLUMBING SErvi 575 EAST TREMONT AVE - PO BOX 86 BRONX NY 10457 plumbing service 413416 16 190975 190975 RENTAL MANAGEMENT FEES 531310 5576031 5576031 DEVELOPER FEES 561499 2124159 2124159 SOCIAL SERVICE INCOME 561000 368925 368925 8069115 412988 412988 0 0 0 0 0 0 70750 55402 15348 15348 0 0 0 0 0 0 0 8688426 8069115 428336 10000 10000 0 0 0 1342682 1208413 93988 40281 0 3097092 2787382 216797 92913 222592 200333 15581 6678 316836 285152 22179 9505 333573 300216 23350 10007 0 0 0 0 0 0 395832 356248 27708 11876 0 200301 180271 14021 6009 0 0 30000 27000 2100 900 0 0 0 0 0 41590 37431 2911 1248 107612 96850 7533 3229 AUTO EXPENSE 114139 102725 7990 3424 NEIGHBORHOOD & BUILDING SVC 369109 369109 TELEPHONE 56166 50549 3932 1685 SOCIAL SERVICES 150528 150528 56139 51222 3443 1474 6844191 6213429 441533 189229 12900786 10563245 18229404 19127746 0 0 7506748 7183423 0 0 0 0 15632212 17733249 0 0 0 0 1750501 1591165 200927 159336 0 0 0 0 0 0 0 0 16706347 19523868 71176424 74290867 853841 813296 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6636020 6846359 7489861 7659655 X 58486563 61431212 5200000 5200000 63686563 66631212 71176424 74290867 1844235 1100414 X X false true X true false X 134957 181883 871349 279449 190975 1658613 8240753 8308320 7994459 6898119 8069115 39510766 0 0 0 8375710 8490203 8865808 7177568 8260090 41169379 0 0 0 41169379 773099 696142 264322 -1038260 1513402 2208705 0 773099 696142 264322 -1038260 1513402 2208705 0 34651 29184 52413 -39317 15348 92279 9183460 9215529 9182543 6099991 9788840 43470363 0.94707 0.97267 0.05081 0.02454 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3643 3643 158384 47110 111274 1588474 1544055 44419 159336 RESTRICTED CASH 6226320 INVESTMENT IN PARTNERSHIP 373200 DEFERRED DEV FEES RECEIVABLE 11983338 OTHER ASSETS 941010 19523868 0 BUILDING RESERVES AND ESCROWS 6216160 OTHER LIABILITIES 31818 DEFERRED COMPENSATION PLAN 598381 6846359 X 53359383 1100414 43570543 44670957 8688426 8688426 66649159 59804968 59804968 6844191 6844191 PART X, LINE 2 MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRED FINANCIAL STATEMENT RECOGNITION. THE COMPANY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL, STATE AND LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2019, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATION ADJUSTMENTS OF $ 43,570,543. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATION ADJUSTMENTS OF $ 59,804,968. ART ON CONCOURS 70750 70750 55402 0 70750 70750 55402 55402 15348 X false true false false false false false false false HENG LY Chief executive officer 355900 0 0 0 0 0 33000 0 35249 0 424149 0 0 0 ROBERT DONOVAN DIRECTOR OF CONSTRUCTION 192336 0 0 0 0 0 19220 0 35817 0 247373 0 0 0 PHUONG H VANG DIRECTOR OF FINANCIAL SERVICES 205488 0 0 0 0 0 13429 0 19272 0 238189 0 0 0 GERARD WOLLWEBER DIRECTOR OF LEASING 195979 0 0 0 0 0 19569 0 2294 0 217842 0 0 0 Rachel Nguyen Asst. Director fin. services 162288 0 0 0 0 0 15908 0 36933 0 215129 0 0 0 ROXANNA CHOWDHRY EXECUTIVE DIRECTOR 0 179626 0 0 0 0 0 18018 0 34211 0 231855 0 0 MANUELA SCHAUDT EXECUTIVE DIRECTOR 223347 4467 13141 240955 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: FBHC WAS FORMED FOR THE PURPOSE OF PROMOTING, DEVELOPING AND MANAGING LOW AND MODERATE INCOME HOUSING, PROVIDING ASSISTANCE TO LOW INCOME FAMILIES AND COMBATING COMMUNITY DETERIORATION IN THE FORDHAM BEDFORD SECTION AND SURROUNDING AREAS OF THE NORTHWEST BRONX. FORM 990, PART VI, SECTION B, LINE 11B: LINE 11B EXPLANATION - THE BOARD OF DIRECTORS HOLD AN ANNUAL MEETING IN WHICH THE OUTSIDE AUDITORS CONDUCT A PRESENTATION AND EXPLANATION OF THE CERTIFIED AUDITED FINANCIAL STATEMENTS AND THE ANNUAL TAX RETURNS, AS WELL AS A DISCUSSION OF INTERNAL CONTROLS. FORM 990, PART VI, SECTION B, LINE 12C: THE CONFLICT OF INTEREST POLICY IS RENEWED ANNUALLY WITH ALL OFFICERS OF THE ORGANIZATION. POTENTIAL CONFLICTS ARE BROUGHT TO THE EXECUTIVE COMMITTEE FOR REVIEW AND OFFICERS FOUND TO HAVE CONFLICTS OF INTEREST ARE ASKED TO RESIGN OR ABSTAIN FROM INVOLVEMENT IN ALL RELATED PROJECTS. FORM 990, PART VI, SECTION B, LINE 15: DECISIONS REGARDING COMPENSATION ARE BASED ON THE RECOMMENDATIONS OF AN INDEPENDENT COMMITTEE THAT CONSIDERS PERFORMANCE, SCOPE OF RESPONSIBILITIES, AND SALARY COMPENSATION FOR SIMILAR POSITIONS. FINAL APPROVAL FOR EXECUTIVE DIRECTOR'S COMPENSATION MUST BE APPROVED BY THE EXECUTIVE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19: AFTER APPROVAL OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS, THE ORGANIZATION MAKES AVAILABLE ALL GOVERNANCE DOCUMENTS, POLICY STATEMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC, UPON WRITTEN REQUEST. THE ORGANIZATION ALSO TIMELY FILES ITS ANNUAL NEW YORK STATE CHAR 500 REPORT WITH THE NYS ATTORNEY GENERAL AND ALL OF ITS FILINGS ARE MADE AVAILABLE THROUGH THE NYSOAG CHARITIES WEBSITE. FORM 990, PART XII - LINE 2C: MANAGEMENT AND BOARD OF DIRECTORS ASSUMES RESPONSIBILTY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORM 990, PART III, LINE 3: FBHC had a grant contract with NEW YORK CITY ADMINISTRATION FOR CHILDREN'S SERVICES, TO PROVIDE DAY CARE SERVICES TO THE COMMUNITY, with the most recent contract dating from 10.1.16-9.30.18. The contract was transferred to AN AFFILIATE, Concourse House, in October of 2017. FBHC, AS THE SPONSOR OF CONCOURSE HOUSE, CONTINUES TO PROVIDE MONITORING SERVICES TO THIS PROGRAM. 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