2025-11-17T15:16:17-05:00 2024-12-31 273263553 GALLEROS ROBINSON 115 DAVIS STATION RD CREAM RIDGE NJ 08514 990 2024-01-01 133501749 MELROSE VILLA HERMOSA HOUSING DEVELOPMENT FUND COMPANY INC MELR 7186652747 825 MELROSE AVENUE BRONX NY 10451 REV BERTRAM BENNETT PRESIDENT 7186652747 2025-11-11 true LEONORA GALLEROS P00181670 6469210400 2025-11-17 2024 2025-03-06 01:10:19Z REV BERTRAM BENNETT 12069956 false X NONE X 2004 NY PROVIDE LOW-INCOME HOUSING FOR THE ELDERLY AND THE DISABLED 7 7 4 7 0 0 1035077 821296 1031 5186299 0 1036108 6007595 0 0 208352 163943 0 0 1284736 1131146 1493088 1295089 -456980 4712506 6377154 1103256 371716 104936 6005438 998320 X LOW-INCOME HOUSING FOR ELDERLY AND DISABLED false true 1041349 821296 RENTAL ASSISTANCE PROGRAM FOR ELDERLY AND DISABLED. HOUSING FOR ELDERLY OR DISABLED PERSONS OF LOW INCOME TO PROMOTE THEIR HEALTH. 1041349 true false false false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 2 0 true 4 true false false false false false false false false false false false false X 7 7 false true false false false false false true true false false true false true true false false false NY X X GRENADIER REALTY CORPORATION 7186428700 168 39TH STREET BROOKLYN NY 11232 X REV BERTRAM BENNETT PRESIDENT 15.00 X X 0 0 0 GLORIA ALSTON VICE PRESIDE 6.00 X X 0 0 0 JAMES FRANCIS SECRETARY 6.00 X X 0 0 0 DANNY TORRES TREASURER 6.00 X X 0 0 0 REV GETULIO CRUZ JR BOARD MEMBER 4.00 X 0 0 0 JOANNE KENNEDY BOARD MEMBER 4.00 X 0 0 0 MARYLYN ORTIZ BOARD MEMBER 4.00 X 0 0 0 false false false LOW-INCOME HOUSING RENT 531110 801631 801631 LAUNDRY AND OTHER TENANT CHAR 531110 19665 19665 821296 1961 1961 11246699 6062361 5184338 5184338 5184338 6007595 821296 5186299 X 118372 118372 1474 1474 33506 33506 10591 10591 84137 84137 45085 45085 35112 35112 192264 192264 33393 33393 239316 239316 252640 252640 82771 82771 BAD DEBTS 88628 88628 REPAIRS, MAINTENANCE, JAN 48512 48512 MISCELLANEOUS 16243 15465 778 LICENSES AND PERMITS 13045 13045 1295089 1041349 253740 0 305 132702 918767 190205 16572 38767 6031607 116270 35215 6377154 1103256 341048 104936 5813 24855 371716 104936 X -3714186 998320 9719624 6005438 998320 6377154 1103256 X 4712506 -9719624 X X false true X true true true X 1063216 1024288 1022146 1035077 821296 4966023 1063216 1024288 1022146 1035077 821296 4966023 4966023 674 1264 1300 1031 1961 6230 674 1264 1300 1031 1961 6230 1063890 1025552 1023446 1036108 823257 4972253 0.99870 0.99900 0.00000 0.00000 X X 6017927 10332 10332 6007595 6007595 1305421 10332 10332 1295089 1295089 SCHEDULE D, PAGE 3, PART X THE PROJECT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE PROJECTS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE PROJECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORELIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE PROJECT HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE PROJECT IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2021. CURRENTLY, THERE ARE NO AUDITS IN PROGRESS. SCHEDULE D, PAGE 4, PART XI, LINE 2D RENT FREE UNIT 10,332 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENT FREE UNIT 10,332 FORM 990, PAGE 2, PART III, LINE 3 ON OCTOBER 9, 2024, THE ORGANIZATION SOLD ITS HOUSING PROPERTY AND CEASED ALL PROGRAM OPERATIONS. THE BOARD APPROVED DISSOLUTION FOLLOWING THE SALE, WITH NET PROCEEDS HELD IN ESCROW PENDING APPROVAL OF THE DISSOLUTION PETITION BY THE NEW YORK STATE ATTORNEY GENERAL. THE ORGANIZATION REMAINS ACTIVE ONLY TO COMPLETE DISSOLUTION-RELATED MATTERS AND IS EXPECTED TO BE DISSOLVED IN 2025. FORM 990, PAGE 6, PART VI, LINE 3 THE BOARD CONTRACTED GRENADIER REALTY CORP. (MANAGING AGENT) TO MANAGE THE RENTAL PROPERTY THROUGH A MANAGEMENT CONTRACT AGREEMENT. THE MANAGING AGENT REPORTS TO THE BOARD ON A MONTHLY BASIS. FORM 990, PAGE 6, PART VI, LINE 11B THE DRAFT FORM 990 IS INITIALLY PROVIDED TO THE MANAGING AGENT FOR REVIEW AND COMMENTS. ONCE REVIEWED AND COMMENTS ADDDRESSED, THE DRAFT FORM 990 IS THEN PROVIDED TO THE BOARD THROUGH THE PRESIDENT FOR REVIEW AND APPROVAL OF THE FULL-BOARD FOR FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AT WWW.GUIDESTAR.ORG AND HTTPS://APPS.IRS.GOV/APP/EOS/. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE MANAGING AGENT, GRENADIER REALTY CORP. LOCATED AT 168 39TH STREET, SUITE 306, BROOKLYN, NY 11232. FORM 990, PART IX, LINE 11G SECURITY SERVICES 177,480 0 0 PROFESSIONAL FEES 14,784 0 0 TOTAL 192,264 0 0 FORM 990, PART XI, LINE 9 CAPITAL ADVANCE -9,719,624 THE PROJECT RECEIVED A TOTAL HUD CAPITAL ADVANCE OF 9,719,624 UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, WHICH WAS USED TO FINANCE THE CONSTRUCTION AND DEVELOPMENT OF THE PROJECTS BUILDINGS. ON OCTOBER 9, 2024, IN CONNECTION WITH THE SALE OF THE PROJECTS PROPERTY, THE HUD CAPITAL ADVANCE WAS ASSUMED BY THE PURCHASER, NEW MELROSE VILLA HOUSING DEVELOPMENT FUND COMPANY, INC. AS A RESULT, THE CAPITAL ADVANCE WAS RELEASED FROM RESTRICTION AND REDUCED THE NET ASSETS WITH THE SAME AMOUNT. FORM 990, PAGE 12, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.