2024-11-15T13:14:24-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-01-01 300162353 SOUNDVIEW SENIOR HOUSING DEVELOPMENT FUND COMPANY INC SOUN 7189910999 115-50 MERRICK BLVD ST ALBANS NY 114341896 TREVOR MCLEAN PRESIDENT 7189910999 2024-11-15 1 1 TRACY CAI P01959755 9143818900 2024-11-15 2023 2024-10-15 13:58:12Z TREVOR MCLEAN 115-50 MERRICK BLVD ST ALBANS NY 114341896 1120250 0 X N/A X 2002 NY TO OPERATE A 72 UNIT SENIOR HOUSING FACILITY FOR THE ELDERLY AND HANDICAPPED. 5 5 0 5 0 0 1452872 821046 279884 297417 400 1307 4992 480 1738148 1120250 0 0 0 0 0 0 0 0 0 1619461 1546776 1619461 1546776 118687 -426526 11363016 11741276 13008504 14389397 -1645488 -2648121 TO OPERATE A 72 UNIT SENIOR HOUSING FACILITY FOR THE ELDERLY AND HANDICAPPED. 0 0 1287443 0 297417 SPORSORED BY THE NORTHEASTERN CONFERENCE CORPORATION OF SEVENTH-DAY ADVENTISTS (THE "SPONSOR"), SOUNDVIEW SENIOR HDFC (THE "ENTITY") WAS ORGANIZED IN 2002 FOR THE PURPOSE OF DEVELOPING AND OPERATING A SENIOR HOUSING AND RELATED FACILITIES FOR THE ELDERLY AND HANDICAPPED. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 202 AND CONSISTS OF 72 UNITS ELIGIBLE FOR HUD SECTION 8 RENTAL ASSISTANCE. SUCH ENTITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. 1287443 1 1 0 0 0 0 0 0 1 0 1 0 0 0 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 9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 NY X X TUC MANAGEMENT INC 8453682400 4 EXECUTIVE BLVD SUFFERN NY 10901 X TREVOR MCLEAN PRESIDENT 6.00 X X 0 0 0 JANET RIVERA TREASURER 1.00 X X 0 0 0 SHARON MOHAMMED SECRETARY 1.00 X X 0 0 0 RUEL JOHNSON DIRECTOR 1.00 X 0 0 0 ALMOA F MARTIN DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 PROTECTOR BUILDER GENERAL CONTRACTOR INC 3524 12TH AVENUE BROOKLYN NY 11218 CONSTRUCTION 233553 AARGO SERVICES INC 112-126 EAST 128TH ST NEW YORK NY 10035 SECURITY SERVICES 173926 TUC MANAGEMENT INC 4 EXECUTIVE BLVD SUITE 100 SUFFERN NY 10901 MANAGEMENT SERVICES 126959 3 821046 821046 RENTAL INCOME 531190 297417 297417 297417 1307 1307 OTHER INCOME 900099 460 460 OTHER TENANT CHARGES 900099 20 20 480 1120250 297417 0 1787 X 121293 121293 22204 22204 220494 215569 4925 26988 11816 15172 506064 490368 15696 206 206 332198 332198 ALLOCATED WAGES 203683 151185 52498 REPAIRS AND MAINTANCE 84678 84678 MISC EXPENSES 17555 1629 15926 BAD DEBT EXPENSES 11413 11413 1546776 1287443 259333 0 19935 554244 1561505 1380089 6689 8194 19969 25592 13872232 4122998 9731226 9749234 23692 23923 11363016 11741276 430417 1187554 21015 644341 19461 19891 12522355 12522355 15256 15256 13008504 14389397 X -1645488 -2648121 -1645488 -2648121 11363016 11741276 X -426526 -576107 X 0 1 X 0 1 1 X 803290 1471647 1466525 1452872 821046 6015380 257563 260435 259498 279884 297417 1354797 1060853 1732082 1726023 1732756 1118463 7370177 0 0 0 7370177 302 313 326 400 1307 2648 302 313 326 400 1307 2648 2614 816 554 4992 480 9456 1063769 1733211 1726903 1738148 1120250 7382281 0.99840 0.99770 0.00040 0.00020 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 2,614. 2020 AMOUNT: $ 816. 2021 AMOUNT: $ 424. 2022 AMOUNT: $ 4,832. 2023 AMOUNT: $ 460. OTHER TENANT CHARGES - 2021 AMOUNT: $ 130. 2022 AMOUNT: $ 160. 2023 AMOUNT: $ 20. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 752844 752844 13049341 4057314 8992027 70047 65684 4363 9749234 OTHER LIABILITIES 15256 15256 X 1120250 0 1120250 0 1120250 2122883 576107 576107 1546776 0 1546776 PART IV, LINE 2B: FUNDS FOR THE PERSONAL USE OF RESIDENTS AND FUNDS RECEIVED AS SECURITY DEPOSITS FOR SERVICES ARE HELD IN TRUST FOR THEM BY THE ENTITY. THESE FUNDS ARE SEGREGATED IN A SEPARATE INTEREST-BEARING ACCOUNT FOR THE TENANTS' BENEFIT AND ARE NOT AVAILABLE FOR OTHER USES. DURING 2019, THE ENTITY RECEIVED A DEPOSIT OF $10,000 FOR THE SALE OF THE LAND. AS OF DECEMBER 31, 2023, THE TRANSACTION IS TEMPORARILY ON HOLD PENDING POTENTIAL CHANGES IN THE TERMS OF SALE. 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 DECEMBER 31, 2020. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF INVESTMENT IN REAL ESTATE 576,107. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION EMPLOYED T.U.C. MANAGEMENT COMPANY, INC. AS A MANAGING AGENT FOR THE PURPOSES OF SUPERVISING AND OVERSEEING DAY-TO-DAY AND LONG TERM MANAGEMENT, MAINTENANCE AND UPKEEP OF THE PREMISES, AND HAVING OVERALL SUPERVISION OF THE SECTION OF THE BUILDING OVER WHICH THE ORGANIZATION HAS CONTROL. IN ADDITION, THE COMPANY OVERSEES THE LEASING OF ANY AVAILABLE SPACE UPON OWNER'S REQUEST, COLLECTING RENT, CARRYING FEES, AND OTHER PAYMENTS DUE TO OWNER FROM TENANTS OR OCCUPANTS OF SPACE IN THE SAID PREMISES, MAINTAINING THE PREMISES PHYSICAL CONDITION IN COMPLIANCE WITH ALL GOVERNMENTAL CODES AND REGULATIONS. THE MANAGEMENT COMPANY ALSO PROVIDES CONSULTATIVE SERVICES AND THE BACK-OFFICE ACCOUNTING FUNCTIONS. THE MANAGEMENT FEE PAID TO TUC DURING 2023 WAS $121,293. NO BOARD MEMBER OR OFFICER LISTED IN PART VII RECEIVED COMPENSATION FROM THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE CURRENTLY NO COMMITTEES. THE CURRENT BOARD OVERSEES ALL AREAS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B SOUNDVIEW SENIOR HDFC FUND COMPANY INC. 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, IT IS ELECTRONICALLY FORWARDED TO THE BOARD PRESIDENT AND TREASURER FOR REVIEW AND APPROVAL. A COPY OF THE RETURN IS SENT TO THE FULL BOARD AFTER IT HAS BEEN FILED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FORM 1023, FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY . FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 215,569. MANAGEMENT AND GENERAL EXPENSES 4,925. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 220,494. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF INVESTMENT IN REAL ESTATE -576,107.