2024-05-14T23:08:14-05:00 2023-09-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 878 VETERANS MEMORIAL HWY 4TH FLOOR HAUPPAUGE NY 11788 990 2022-10-01 112614312 FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY INC FARM 5164861000 CO STANAN MANAGEMENT 33 FRONT ST HEMPSTEAD NY 11550 STEPHEN KRESSEL PRESIDENT 5167985363 2024-05-14 1 STEPHEN KRESSEL XXX-XX-XXXX 1 THOMAS J RUGGIERO CPA P01240719 6314349500 2024-05-02 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEPHEN KRESSEL 14 BELLAIRE ROAD MASSAPEQUA NY 11758 1593907 0 X N/A X 1983 NY THE COMPANY PROVIDES HOUSING FOR LOW INCOME, ELDERLY AND HANDICAPPED INDIVIDUALS WHO ARE ABLE TO LIVE INDEPENDENTLY ON A NOT-FOR-PROFIT BASIS. RENTS PAID BY THE TENANTS ARE SUBSIDIZED BY THE US DEPARTMENT OF H.U.D THROUGH SECTION 8 RENT ASSISTANCE PAYMENTS. THE PROJECT (BUILDING) WAS FINANCED WITH A MORTGAGE FROM H.U.D. 14 14 0 14 0 0 1156442 1206959 320789 305649 7527 78880 3110 2419 1487868 1593907 0 0 0 0 0 0 0 0 0 785090 785392 785090 785392 702778 808515 3536925 4037941 1082912 775413 2454013 3262528 X THE COMPANY HAS BEEN ORGANIZED EXCLUSIVELY TO DEVELOP ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR ELDERLY AND HANDICAPPED PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH PERSONS, WHICH PROJECT IS TO BE AIDED BY A FEDERALLY-AIDED MORTGAGE, STATE-AIDED MORTGAGE OR MUNICIPALLY-AIDED MORTGAGE AS DEFINED IN SECTION 572 OF THE PRIVATE HOUSING FINANCE LAW OF THE STATE OF NEW YORK. 0 0 525015 305649 THE COMPANY PROVIDES HOUSING FOR THE ELDERLY AND HANDICAPPED. HUD PROJECT NUMBER 012 EH 288 IS AN 80-UNIT APARTMENT FACILITY, LOCATED IN FARMINGDALE, NEW YORK. THE PROJECT IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND IS REGULATED BY U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS.THE PROJECT ALSO IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS (HAP) AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD. 525015 1 1 0 0 0 0 0 0 1 0 1 0 0 1 0 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 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 1 1 0 1 0 0 0 1 0 0 0 0 0 0 NY X X STANAN MANAGEMENT CORP 5164861000 33 FRONT STREET HEMPSTEAD NY 11550 X ANITA GODFREY BOARD MEMBER 1.00 X 0 0 0 REVEREND ROBERT WEBER BOARD MEMBER 1.00 X 0 0 0 MS PRUDENCE MANOLAKES BOARD MEMBER 1.00 X 0 0 0 PETER A CARUSO ESQUIRE BOARD MEMBER 1.00 X 0 0 0 RABBI MOSHE WEISBLUM BOARD MEMBER 1.00 X 0 0 0 REVEREND JOSEPH EWOODSIE BOARD MEMBER 1.00 X 0 0 0 TOM SATTLER BOARD MEMBER 1.00 X 0 0 0 JOSEPH CAROSELLA BOARD MEMBER 1.00 X 0 0 0 LYNN CONNOLLY BOARD MEMBER 1.00 X 0 0 0 MR DANNY GASTELUA BOARD MEMBER 1.00 X 0 0 0 MR JOSEPH MEARES ESQUIRE BOARD MEMBER 1.00 X 0 0 0 GAIL JEBY-LEVY BOARD MEMBER 1.00 X 0 0 0 KATHERINE MC DONALD SECRETARY 1.00 X X 0 0 0 STEPHEN KRESSEL ESQUIRE TREASURER/PRESIDENT 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 1206959 1206959 RENTAL INCOME 531110 305649 305649 305649 78880 78880 LAUNDRY & VENDING INCOME 900003 1920 1920 FORFEITED SECURITY DEPOSITS 900003 499 499 2419 1593907 305649 0 81299 X 102291 102291 42406 42406 42183 42183 134963 67997 66966 6531 6531 3757 3757 159004 159004 63022 63022 108605 108605 REPAIRS & MAINTENANCE 122630 122630 785392 525015 260377 0 10226 32272 5611 5774 51417 31894 43388 50257 5521405 3935894 1607569 1585511 1818714 2332233 3536925 4037941 68651 31832 3018 9846 27835 30472 983408 703263 1082912 775413 X 2454013 3262528 2454013 3262528 3536925 4037941 808515 0 X X 0 1 X 1 1 1 X 985549 985516 1011615 1156442 1207169 5346291 294001 306139 285657 320789 305439 1512025 1920 1920 1920 1920 1920 9600 1281470 1293575 1299192 1479151 1514528 6867916 0 0 0 6867916 18848 9382 1057 7527 78880 115694 18848 9382 1057 7527 78880 115694 29 1037 2847 1190 499 5602 1300347 1303994 1303096 1487868 1593907 6989212 0.98260 0.99220 0.01660 0.00660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 439800 439800 4762160 3696207 1065953 316787 237140 79647 2658 2547 111 1585511 TENANT SECURITY DEPOSITS 30472 RESTRICTED RESERVES (INCLUDES CASH AND 91-DAY T-BILL) 2101717 REFUNDABLE DEPOSITS 350 PAINTING AND INSURANCE RESERVES 199694 2332233 X 1593907 0 1593907 0 1593907 785392 0 785392 0 785392 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT. PART X, LINE 2: THE FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY, INC., A NOT-FOR-PROFIT ORGANIZATION OPERATING UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, IS GENERALLY EXEMPT FROM FEDERAL, STATE AND LOCAL INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY, INC. ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED BENEFIT IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES ASSESSED, IF ANY, ARE ACCRUED AS INCOME TAX EXPENSE. THE FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY, INC. HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS A TAX POSITION; HOWEVER, THE FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY, INC. HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. FORM 990, PART VI, SECTION A, LINE 3 STANAN MANAGMENT MANAGES ALL OPERATIONS OF THE PROJECT, PROCESSES ALL FINANCIAL TRANSACTIONS, AND ENSURES THE PROJECT IS IN COMPLIANCE WITH HUD AND ALL OTHER RULES AND REGULATIONS. THE MANAGEMENT COMPANY WAS PAID $102,291 FOR ITS SERVICES WHICH WAS EQUAL TO 6.55% OF THE ORGANIZATION'S GROSS REVENUES. FORM 990, PART VI, SECTION A, LINE 6 THERE SHALL BE FIVE MEMBERS OF THE CORPORATION: 1. ST. KILIAN ROMAN CATHOLIC CHURCH 2. ST. LUKES LUTHERAN CHURCH 3. ST. THOMAS EPISCOPAL CHURCH 4. FARMINGDALE UNITED METHODIST CHURCH 5. CONGREGATION BETH TIKVAH (F/K/A FARMINGDALE JEWISH CENTER) FORM 990, PART VI, SECTION A, LINE 7A THE SPIRITUAL LEADER OF EACH MEMBER OF THE CORPORATION SHALL BE A DIRECTOR OF THE CORPORATION. EACH MEMBER SHALL ANNUALLY DESIGNATE ONE OR TWO ADDITIONAL DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WHO CAN ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AS WELL AS MANAGEMENT FOR REVIEW PRIOR TO ITS SUBMISSION. THE FORM IS THOROUGHLY REVIEWED BY EACH MEMBER AND ANY QUESTIONS ARE IMMEDIATELY ADDRESSED. FORM 990, PART VI, SECTION C, LINE 19 THE FARMINGDALE HOUSING DEVELOPMENT FUND COMPANY, INC. MAKES ALL DOCUMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 67,997. MANAGEMENT AND GENERAL EXPENSES 66,966. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 134,963. PART X11-LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THR PRIOR YEAR.