2024-01-16T15:22:51-06:00 2023-02-28 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-03-01 141548784 VARICK-PETERSON HOUSING DEVELOPMENT FUND COMPANY INC VARI 8453682400 121-A VARICK HOMES NEWBURGH NY 12550 ONYX PETERSON TREASURER 8453682400 2024-01-16 1 ONYX PETERSON XXX-XX-XXXX 1 GARRETT M HIGGINS P00543209 9143818900 2024-01-16 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z EBONY PETERSON ANDERSON 121-A VARICK HOMES NEWBURGH NY 12550 1980755 0 X N/A X 1968 NY TO PROVIDE LOW INCOME HOUSING FOR 122 UNITS UNDER THE NATIONAL HOUSING ACT. 4 4 0 4 0 0 0 1095707 1917702 847183 2683 24001 17877 13864 1938262 1980755 0 0 0 0 0 0 0 0 0 1826882 2401924 1826882 2401924 111380 -421169 5313425 4813689 478280 399713 4835145 4413976 VARICK-PETERSON HOUSING DEVELOPMENT FUND COMPANY, INC. (THE"ENTITY") OPERATES A 122-UNIT RESIDENTIAL APARTMENT BUILDING COMPLEX IN NEWBURGH, NEW YORK UNDER SECTION 215 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPT. OF HOUSING & URBAN DEVELOPMENT. 0 0 1613028 0 847183 OPERATION OF A RESIDENTIAL APARTMENT COMPLEX CONSISTING OF 122 RENTAL UNITS IN NEWBURGH, NEW YORK. 1613028 1 1 0 0 0 0 0 0 1 0 1 0 0 1 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 0 0 0 0 1 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 1 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 NY X X GREYSTAR MANAGEMENT COMPANY 8453682400 121A VARICK HOMES NEWBURGH NY 12550 X EBONY PERTERSON-ANDERSON PRESIDENT 15.00 X X 0 0 0 RIKI PETERSON-JICHA VICE-PRESIDENT/SECRETARY 5.00 X X 0 0 0 ONYX PETERSON TREASURER 15.00 X X 0 0 0 RICHARD PERTERSON III DIRECTOR 5.00 X 0 0 0 0 0 0 0 0 0 0 0 1095707 1095707 RENTAL INCOME 531120 847183 847183 847183 24001 24001 LAUNDRY AND VENDING 900099 10824 10824 MISCELLANEOUS REVENUE 900099 3040 3040 13864 1980755 847183 0 37865 113380 113380 58965 58965 8631 8631 57452 57452 6703 6703 50122 35530 14592 20899 20899 962224 939842 22382 993 993 141420 141420 PURCHASED SERVICES 430775 205669 225106 BAD DEBT EXPENSE 268892 268892 REPAIRS & MAINTENANCE 229362 229362 ADMINISTRATIVE EXPENSE 52106 3753 48353 2401924 1613028 788896 0 835678 90868 1700124 1709545 146736 317158 66421 118817 6678876 6175459 504983 503417 2059483 2073884 5313425 4813689 410546 339320 1511 0 47785 50168 18438 10225 478280 399713 X 4835145 4413976 4835145 4413976 5313425 4813689 -421169 0 X 0 1 X 0 1 1 X 806404 985419 1053875 1146431 1095707 5087836 1015643 865879 777467 771271 847183 4277443 1822047 1851298 1831342 1917702 1942890 9365279 0 0 0 9365279 2244 2525 2401 2683 24001 33854 2244 2525 2401 2683 24001 33854 12017 17877 13864 43758 1824291 1853823 1845760 1938262 1980755 9442891 0.99180 0.99550 0.00360 0.00130 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING - 2020 AMOUNT: $ 10,532. 2021 AMOUNT: $ 15,359. 2022 AMOUNT: $ 10,824. MISCELLANEOUS REVENUE - 2020 AMOUNT: $ 1,485. 2021 AMOUNT: $ 2,518. 2022 AMOUNT: $ 3,040. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 19000 19000 6392521 6037020 355501 212188 83272 128916 55167 55167 0 503417 TENANT SECRUITY DEPOSITS HELD IN TRUST 51219 CASH ESCROW 2022665 2073884 DUE TO HUD 10225 10225 X 1980755 0 1980755 0 1980755 2401924 0 2401924 0 2401924 PART IV, LINE 2B: FUNDS FOR THE PERSONAL USE OF RESIDENTS AND FUNDS RECEIVED AS SECURITY DEPOSITS FOR SERVICES ARE HELD IN TRUST FOR THE RESIDENTS BY THE ENTITY. 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 ENTITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENTITY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FEBRUARY 29, 2020. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS HAVE A FAMILY RELATIONSHIP: EBONY PETERSON-ANDERSON, RIKI PETERSON-JICHA, ONYX PETERSON, AND RICHARD PETERSON. FORM 990, PART VI, SECTION A, LINE 3 THE ENTITY PURCHASES MANAGEMENT SERVICES FROM UNRELATED MANAGEMENT SERVICES CORPORATIONS. DURING THE YEAR ENDED FEBRUARY 28, 2022, THE ENTITY ENGAGED GREYSTAR MANAGEMENT SERVICES, LLP. THESE FEES WERE CHARGEABLE AT THE HIGHER OF $10,000 PER MONTH OR 2.5% OF MONTHLY GROSS RENT COLLECTIONS. TOTAL FEES INCURRED FOR MANAGEMENT SERVICES FOR THE TAX YEAR ENDED FEBRUARY 28, 2022 WAS $113,380. FORM 990, PART VI, SECTION A, LINE 8B THE ENTITY DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ENTITY HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. ONCE THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE TREASURER AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD OF DIRECTORS AND SUBSEQUENTLY FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION C, LINE 19 THE ENTITY MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS AND ARTICLES OF INCORPORATION ARE ALSO AVAILABLE UPON WRITTEN REQUEST.