2024-05-15T09:06:57-05:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-07-01 133557175 1850 SECOND AVENUE SERVICES CORPORATION 1850 2129627653 11 PARK PLACE 1416 NEW YORK NY 10007 LINDA HOFFMAN CEO 2129627653 2024-05-15 1 LINDA HOFFMAN 999009999 1 JOSEPH CONNOLLY P00543209 9143818900 2024-05-09 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z LINDA HOFFMAN 11 PARK PLACE 1416 NEW YORK NY 10007 760426 0 X WWW.NYFSC.ORG X 1989 NY PROVIDE 48 UNITS OF SUBSIDIZED, LOW INCOME HOUSING FOR SENIOR CITIZENS AND FAMILIES. TWENTY-NINE (29) OF ITS TENANTS ARE A PART OF THE ENRICHED HOUSING PROGRAM. THIS PROGRAM PROVIDES APARTMENT-BASED LIFESTYLE FOR FRAIL AND HANDICAPPED SENIORS, COMPLETE WITH THE SPECIALIZED SERVICES THAT MANY REQUIRE. 4 4 6 5 0 0 561497 548170 197005 205582 3129 3465 2437 3209 764068 760426 0 0 0 0 226962 198889 0 0 0 740925 684250 967887 883139 -203819 -122713 5011378 6006754 5109019 6227108 -97641 -220354 X 1850 SECOND AVENUE SERVICES CORPORATION (THE "CORPORATION") IS ORGANIZED STRICTLY FOR THE CHARITABLE PURPOSE OF OWNING, REHABILITATING, LEASING, MANAGING, EQUIPPING, MAINTAINING, DEVELOPING AND OPERATING A HOUSING PROJECT FOR PERSONS AND FAMILIES OF LOW INCOME AND THE NEEDY. 0 0 883139 205582 PROVIDES 48 UNITS OF SUBSIDIZED, LOW INCOME HOUSING FOR SENIOR CITIZENS AND FAMILIES. 883139 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 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 1 0 0 0 1 4 0 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X ROLANDO BLANCO CHIEF FINANCIAL OFFICER 2129627653 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 WILLIAM N HUBBARD IV PRESIDENT 0.20 1.80 X X 0 0 0 DEBORAH SMITH BERNSTEIN PRESIDENT, THRU 6/16/2023 0.20 3.00 X X 0 0 0 ELIZABETH R TOZER VICE PRESIDENT 0.20 2.20 X X 0 0 0 JOAN FINKLESTEIN EXEC. SECRETARY/TREASURER 0.20 1.80 X X 0 0 0 ANN VAN NESS BOARD MEMBER 0.20 2.20 X 0 0 0 LINDA R HOFFMAN CHIEF EXECUTIVE OFFICER 1.00 35.00 X 0 755318 33694 ROLANDO BLANCO CHIEF FINANCIAL OFFICER 1.00 35.00 X 0 311531 30139 0 1066849 63833 0 0 1 0 ALLIED BARTON SECURITY SERVICES PO BOX 828854 PHILADELPHIA PA 19182 SECURITY SERVICES 195753 1 548170 548170 RENTAL INCOME 531110 205582 205582 205582 3465 3465 LAUNDRY & VENDING REVE 531110 3209 3209 3209 760426 205582 0 6674 X 139977 139977 271 271 43556 43556 15085 15085 34986 34986 14610 14610 8048 8048 256237 256237 16330 16330 233731 233731 91653 91653 OPERATING & MAINTENANCE 28655 28655 883139 883139 0 0 92500 22595 2504 2505 34443 50961 9545 10455 6471882 716687 4715756 5755195 3940 3940 152690 161103 5011378 6006754 81712 62695 17278 16732 4975043 6017269 34986 130412 5109019 6227108 X -97641 -220354 -97641 -220354 5011378 6006754 -122713 0 X X 0 1 X 1 1 1 X 530978 543050 567061 561497 548170 2750756 221094 217736 230245 197005 205582 1071662 752072 760786 797306 758502 753752 3822418 0 0 0 3822418 1 1 3129 3465 6596 1 1 3129 3465 6596 2437 2437 2437 3209 10520 754510 763224 799743 761631 760426 3839534 0.99550 0.99090 0.00170 0.00080 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY VENDING REVENUE - 2018 AMOUNT: $ 2,437. 2019 AMOUNT: $ 2,437. 2020 AMOUNT: $ 2,437. 2022 AMOUNT: $ 3,209. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 27600 27600 6437425 710200 5727225 6857 6487 370 5755195 DUE TO SPONSOR 69972 DUE TO AFFILIATES 60440 130412 X PART IV, LINE 2B: THE ORGANIZATION COLLECTS AND MAINTAINS TENANT SECURITY DEPOSITS IN ALIGNMENT WITH THE FOLLOWING PROCEDURE. RESIDENTS PROVIDE THE BUILDING MANAGEMENT OFFICER WITH A SECURITY DEPOSIT UPON MOVING INTO THE HOUSING UNIT. THESE FUNDS ARE DEPOSITED INTO A SEPARATE ACCOUNT AND HELD BY THE ORGANIZATION TO ADDRESS FUTURE EXPENSES THAT MAY BE INCURRED FOR REPAIRS AND/OR DAMAGES TO THE HOUSING UNITS AFTER THE TENANT VACATES THE PREMISES. THE REMAINING SECURITY DEPOSIT FUNDS ARE DISBURSED BACK TO THE TENANT BY THE ORGANIZATION WHEN ALL NECESSARY REPAIRS HAVE BEEN COMPLETED TO PREPARE THE UNIT FOR AN INCOMING TENANT. PART X, LINE 2: THE NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. AND RELATED ENTITIES RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. AND RELATED ENTITIES HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. AND RELATED ENTITIES ARE NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2020. 0 0 0 0 0 0 0 0 0 LINDA R HOFFMAN CHIEF EXECUTIVE OFFICER 0 606918 0 100000 0 48400 0 0 0 33694 0 789012 0 0 ROLANDO BLANCO CHIEF FINANCIAL OFFICER 0 291531 0 20000 0 0 0 0 0 30139 0 341670 0 0 PART I, LINE 3 NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. HAS ESTABLISHED A WRITTEN COMPENSATION POLICY FOR THEIR COMPENSATION COMMITTEE TO FOLLOW IN ESTABLISHING THE COMPENSATION FOR THE CEO. THE POLICY MANDATES THAT EXECUTIVE COMPENSATION BE REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE AND THAT THE COMMITTEE SHOULD BE FREE OF CONFLICTS OF INTEREST. IN ADDITION, THE APPROVING COMPENSATION COMMITTEE NEEDS TO REVIEW APPROPRIATE AND ADEQUATE DATA TO DETERMINE THE REASONABLENESS OF COMPENSATION BEING CONSIDERED. THE COMPENSATION COMMITTEE USES A VARIETY OF INFORMATION AND STUDIES THAT ARE AVAILABLE TO DETERMINE THAT THE APPROPRIATE LEVEL OF COMPENSATION IS BEING PAID TO ITS EXECUTIVES. THE COMPENSATION COMMITTEE OF NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. ENGAGED AN OUTSIDE CONSULTING FIRM TO CONDUCT AN EXECUTIVE COMPENSATION STUDY WHICH INCLUDED A MARKET EVALUATION OF THE TOP FIVE POSITIONS WITHIN THE ORGANIZATION. THE COMPENSATION COMMITTEE'S DECISION ON THE AMOUNT OF COMPENSATION PAID IS REQUIRED TO BE ADEQUATELY DOCUMENTED IN A CONTEMPORANEOUSLY WRITTEN FORMAT AND SHOULD DOCUMENT THE DATE OF THE DECISION, THE MEMBERS PRESENT DURING THE DECISION AND THOSE WHO VOTED ON IT, THE FULL TERMS OF THE TRANSACTION THAT WAS APPROVED AND THE COMPARABLE DATA USED AND RELIED UPON TO MAKE THE DECISION. THE COMPENSATION REVIEW PROCESS FOR THE CEO WAS LAST UNDERTAKEN IN NOVEMBER 2022. FORM 990, PART VI, SECTION A, LINE 3 THE PROJECT PURCHASES MANAGEMENT SERVICES FROM A RELATED MANAGEMENT SERVICES CORPORATION, NEW YORK FOUNDATION FOR SENIOR CITIZENS, INC. THE MANAGEMENT FEES INCURRED AS OF JUNE 30, 2023 WERE $34,986. MANAGEMENT FEES PAYABLE AT JUNE 30, 2023 WERE $69,972. THE MANAGEMENT COMPANY MANAGES THE BUILDING. THEY COLLECT RENT, PAY BILLS, OVERSEE THE MAINTENANCE OF THE BUILDING AND RE-CERTIFY TENANTS ANNUALLY TO INSURE COMPLIANCE WITH HUD REQUIREMENTS. PLEASE REFER TO PART VII AND SCHEDULE J AS, LINDA HOFFMAN AND ROLANDO BLANCO WERE COMPENSATED BY A RELATED ENTITY. FORM 990, PART VI, SECTION B, LINE 11B 1850 SECOND AVENUE SERVICES CORPORATION 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: WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT'S SUBMITTED ELECTRONICALLY TO A REPRESENTATIVE MEMBER OF THE ORGANIZATION'S GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH ONE WEEK TO REVIEW THE PREPARED FORM 990 AND PROVIDE THEIR COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE MANAGEMENT COMMITTEE IN CHARGE OF FILING THE RETURN FOR THEIR REVIEW. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C 1850 SECOND AVENUE SERVICES CORPORATION CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT ANNUALLY MONITORS AND ENFORCES. THE BOARD CURRENTLY MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. THE SIGNED CONFLICT OF INTEREST POLICY IS SUBMITTED TO THE CORPORATE COMPLIANCE OFFICER WHO REVIEWS THE SIGNED ATTESTATIONS FOR POTENTIAL OR ACTUAL CONFLICTS. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, THE CORPORATE COMPLIANCE OFFICER WILL NOTIFY A MEMBER OF MANAGEMENT OR THE GOVERNING BODY ABOUT SUCH CONFLICT AND INVESTIGATE THE CONFLICT. THE RESULTS OF THE INVESTIGATION WILL BE SUMMARIZED AND DOCUMENTED BY THE CORPORATE COMPLIANCE OFFICER AND BE REPORTED TO THE GOVERNING BODY. IF THE CORPORATE COMPLIANCE OFFICER ESTABLISHES THAT AN ACTUAL CONFLICT EXISTS, THE MEMBER OF MANAGEMENT OR THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THERE IS NO LONGER A CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 1850 SECOND AVENUE SERVICES CORPORATION FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G SECURITY: PROGRAM SERVICE EXPENSES 193,081. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 193,081. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 63,156. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 63,156. FORM 990, PART XII, LINE 2C: 1850 SECOND AVENUE SERVICES CORPORATION BOARD MEMBERS ARE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. NEW YORK FDTN FOR SENIOR CITIZENS INC - GUARDIAN SERVICES 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133501671 LEGAL GUARDIAN FOR ADULTS ENROLLED IN NYC'S HUMAN RESOURCES ADMIN. PRGM. NY 501(C)(3) LINE 7 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 132618568 IMPROVE THE QUALITY OF LIFE FOR THE ELDERLY. NY 501(C)(3) LINE 7 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 NEW YORK FDTN FOR SENIOR CITIZENS - HOME ATTENDANT SVCS INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133083582 LONG-TERM CARE HOME ATTENDANT PROGRAM FOR THE ELDERY. NY 501(C)(3) LINE 7 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 GEORGE DALY HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133535818 TO PROVIDE TRANSITIONAL HOUSING FOR THE HOMELESS. NY 501(C)(3) LINE 7 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 80-92 RIDGE STREET HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133584060 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 TENTH AND 51ST HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133270654 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 YORKVILLE GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133085054 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 CONCOURSE GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133696061 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 CUMBERLAND GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133907908 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 ALMA RANGEL GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 134066940 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 RIVER VIEW GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 133995933 SUBSIDIZED HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 SURF GARDENS HDFC INC 11 PARK PLACE SUITE 1416 NEW YORK NY 10007 205437122 SUBSIDIZED FOR HOUSING FOR THE ELDERLY. NY 501(C)(3) LINE 10 NEW YORK FOUNDATION FOR SENIOR CITIZENS INC 0 SURF GARDENS CONEY ISLAND LP 11 PARK PLACE RM 1416 NEW YORK NY 10007 262956023 LOW INCOME HOUSING FOR THE ELDERLY NY SURF GARDENS GP INC N/A 0 0 SURF GARDENS GP INC 11 PARK PLACE RM 1416 NEW YORK NY 10007 262956084 REAL ESTATE NY NEW YORK FOUNDATION FOR SENIOR CITIZENS INC C 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0