2025-11-15T21:55:04-06:00 2023-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-07-01 133225473 384 GRAND STREET HDFC INC C/O TUC MANAGEMENT COMPANY INC 384G 2127657900 200 WEST 57TH STREET 702 NEW YORK NY 10019 DONALD HONG PRESIDENT 2127657900 2025-11-15 1 1 EVA MRUK P00543254 9143818900 2025-11-15 2022 2025-03-06 01:10:19Z DONALD HONG 200 WEST 57TH STREET 702 NEW YORK NY 10019 967035 0 X N/A X 1984 NY TO PROVIDE AFFORDABLE LOW-INCOME RESIDENTIAL HOUSING FACILITIES. 4 4 0 4 0 0 0 0 601882 611345 191119 227506 125427 117824 918428 956675 0 0 0 0 0 0 0 0 0 2051381 1083911 2051381 1083911 -1132953 -127236 4981177 4862095 102909 111063 4878268 4751032 TO PROVIDE AFFORDABLE RESIDENTIAL HOUSE FACILITIES FOR PERSON WITH LOW- AND MODERATE-INCOME. 0 0 600954 0 611345 TO PROVIDE AFFORDABLE RESIDENTIAL HOUSE FACILITIES FOR PERSON WITH LOW- AND MODERATE-INCOME. THE ORGANIZATION OWNS AND OPERATES A 26-UNIT APARTMENTS LOCATED AT 384 GRAND STREET, NEW YORK, NEW YORK. 600954 1 0 0 0 0 0 0 0 1 0 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 0 0 0 0 0 0 1 X 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X TUC MANAGEMENT COMPANY 2127657900 200 WEST 57TH STREET 702 NEW YORK NY 10019 X DONALD HONG PRESIDENT 15.00 X X 0 0 0 KIN WAH LEE VICE PRESIDENT 5.00 X X 0 0 0 KEVIN HU SECRETARY 5.00 X X 0 0 0 TONY SIU TREASURER 5.00 X X 0 0 0 0 0 0 0 0 0 0 0 RENTAL INCOME & VACANC 531110 385576 385576 SUBSIDY RENT 531110 225769 225769 611345 227506 227506 124774 10360 114414 114414 114414 OTHER REVENUE 900099 2832 2832 REIMBURSEMENT/TENANT C 531390 578 578 3410 956675 611345 0 345330 X 22568 22568 19116 13366 5750 191512 25485 166027 58348 46648 11700 3578 3578 360330 360330 309 309 117469 117469 490 490 BAD DEBT EXPENSES 272875 272875 REPAIRS & MAINTENANCE 21502 21488 14 ALLOC. SALARIES & BENEF 12878 12878 MISCELLANEOUS EXPENSES 2936 2800 136 1083911 600954 482957 0 414092 212462 11740 82542 62366 44227 31131 34514 3106669 2388887 827260 717782 3588648 3719065 45940 51503 4981177 4862095 52701 47270 9081 12415 41127 51378 102909 111063 X 4878268 4751032 4878268 4751032 4981177 4862095 -127236 0 X X 0 1 X 1 0 X 591721 584494 569919 601882 611346 2959362 591721 584494 569919 601882 611346 2959362 0 0 0 2959362 271684 212767 139355 235092 352280 1211178 271684 212767 139355 235092 352280 1211178 8006 11170 220 5866 3410 28672 871411 808431 709494 842840 967036 4199212 0.70470 0.72940 0.28840 0.26290 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 4,202. 2020 AMOUNT: $ 220. 2021 AMOUNT: $ 1,796. 2022 AMOUNT: $ 2,832. REIMBURSEMENT/TENANT CHARGES - 2018 AMOUNT: $ 7,801. 2019 AMOUNT: $ 6,968. 2021 AMOUNT: $ 4,070. 2022 AMOUNT: $ 578. REBATES - 2018 AMOUNT: $ 205. 0 1 X 10 10 2689111 2246996 442115 118135 112092 6043 299413 29799 269614 717782 967035 10360 10360 956675 0 956675 1094271 10360 10360 1083911 0 1083911 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THE DEPOSITS ARE RETURNED TO THE TENANT ONCE THEY HAVE MOVED OUT OF THE APARTMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF DIRECT RENTAL EXPENSES 10,360. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF DIRECT RENTAL EXPENSES 10,360. FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART VI, SECTION A, LINE 6 384 GRAND STREET HOUSING DEVELOPMENT FUND CORP HAS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A 384 GRAND STREET HOUSING DEVELOPMENT FUND CORP'S ORGANIZING DOCUMENTS HAVE RESERVED CERTAIN RIGHTS TO THE MEMBERS. PURSUANT TO THE ORGANIZING DOCUMENTS, THE MEMBERS HAVE THE RIGHT TO ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE THE FOLLOWING ACTIONS: (1) ELECTION OF DIRECTORS (MAJORITY VOTE) (2) AMENDMENTS TO THE CERTIFICATE OF INCORPORATION OR BYLAWS (MAJORITY VOTE) (3) DISPOSITION OF SUBSTANTIALLY ALL ASSETS, ACQUISITION OR SALE OF REAL PROPERTY, MERGER, OR DISSOLUTION (TWO-THIRDS VOTE) FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO FILING. NO REVIEW OF THE RETURN IS CONDUCTED BY THE BOARD BEFORE SUBMISSION TO THE IRS. A THOROUGH REVIEW WILL BE CONDUCTED AFTER THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C 384 GRAND STREET HOUSING DEVELOPMENT FUND CORP CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IS MONITORED AND ENFORCED ANNUALLY. THE WRITTEN CONFLICT OF INTEREST POLICY APPLIES TO ALL BOARD DIRECTORS AND OFFICERS. ALL BOARD DIRECTORS AND OFFICERS MUST ANNUALLY SIGN AND SUBMIT THE COMPLETED CONFLICT OF INTEREST FORMS TO THE BOARD FOR REVIEW AND DISCLOSE ANY POSSIBLE POTENTIAL CONFLICT OF INTEREST. AN INTERESTED PERSON MAY ALSO DISCLOSE ANY POTENTIAL CONFLICTS DURING A BOARD MEETING. ANY REPORTED CONFLICTS ARE ADDRESSED BY THE UNINTERESTED BOARD DIRECTORS. THE UNINTERESTED BOARD DIRECTORS IDENTIFY, CONSIDER AND ADDRESS THE POTENTIAL CONFLICT OF INTEREST, AND ULTIMATELY VOTE TO DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST. THE INTERESTED PERSON WOULD BE EXCUSED FROM PARTICIPATING IN THE REVIEW/VOTE OF THAT PARTICULAR CONFLICT. THE MINUTES OF THE MEETING OF THE BOARD SHALL REFLECT THAT THE CONFLICT OF INTEREST WAS DISCLOSED AND THAT THE INTERESTED PERSON WAS NOT PRESENT DURING THE FINAL DISCUSSION OR VOTE AND DID NOT VOTE. FORM 990, PART VI, SECTION C, LINE 19 384 GRAND STREET HOUSING DEVELOPMENT FUND CORP MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G MANAGEMENT CONSULTANTS: PROGRAM SERVICE EXPENSES 12,459. MANAGEMENT AND GENERAL EXPENSES 166,027. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 178,486. REPAIRS AND MAINTENANCE SERVICE CONTRACTS: PROGRAM SERVICE EXPENSES 13,026. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,026. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.