Nonprofit · EIN 13-3608906
THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION
Tax-exempt · BRONX, NY 10457
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,678,952 | $7,060,417 | -$1,381,465 | $50,738,044 | $33,706,982 | $17,031,062 |
| December 31, 2023 | 990 | $7,768,189 | $9,682,782 | -$1,914,593 | $46,450,343 | $35,300,071 | $11,150,272 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $400,000
- of which government grants
- $400,000
- Program service revenue
- $5,277,570
- Investment income
- $1,382
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $208,347
- Other salaries and wages
- $1,705,696
- Salaries, compensation and benefits (total)
- $2,570,334
- Professional fundraising fees
- $0
- Legal fees
- $46,259
- Accounting fees
- $30,100
- Occupancy
- $2,244,042
- Depreciation
- $312,097
- Program services (functional)
- $6,517,749
- Management and general (functional)
- $542,668
Balance sheet and other
- Total assets, start of year
- $46,450,343
- Total assets, end of year
- $50,738,044
- Total liabilities, end of year
- $33,706,982
- Net assets, end of year
- $17,031,062
- Land, buildings and equipment
- $4,123,443
- Net assets without donor restrictions
- $17,031,062
- Gross receipts
- $5,678,952
- Employees
- 46
- Volunteers
- 5
- Year formed
- 1990
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RAUL RUSSI | PRESIDENT Officer | 0 | $0 | $896,597 | $101,830 |
| LYMARIS ALBORS | CHIEF EXECUTIVE OFFICER Officer | 0 | $0 | $836,684 | $56,068 |
| JOSE A RODRIGUEZ | CHIEF LEGAL OFFICER/EXEC. VP Officer | 0 | $0 | $562,331 | $30,262 |
| VICKY GATELL | CHIEF FINANCIAL OFFICER Officer | 0 | $0 | $442,213 | $46,781 |
| LORRAINE COLEMAN | VP OF SPECIAL PROJECTS Highest-paid employee | 35 | $204,061 | $0 | $43,316 |
| DAVID ALMONTE | DIRECTOR - HOUSING DEVELOPMENT Highest-paid employee | 35 | $199,442 | $0 | $46,396 |
| ANNE-MARIE A HENDRICKSON | SR. VP OF AFFORABLE HOUSING Key employee | 35 | $194,327 | $0 | $14,020 |
| CORNELIA NAROVICI | CONSTRUCTION DIRECTOR Highest-paid employee | 35 | $167,171 | $0 | $21,811 |
| ELIEZER RODRIGUEZ ESQ | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| CARMEN S MELERO | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MARYBETH HOTALING | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GILBERT HERNANDEZ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ARNIE SEGARRA | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RAUL RUSSI | PRESIDENT Officer | 0 | $0 | $909,372 | $70,634 |
| LYMARIS ALBORS | Chief Executive Officer Officer | 0 | $0 | $803,886 | $39,079 |
| JOSE A RODRIGUEZ | CHIEF LEGAL OFFICER/EXEC. VP Officer | 0 | $0 | $602,553 | $37,084 |
| VICKY GATELL | CHIEF FINANCIAL OFFICER Officer | 0 | $0 | $454,869 | $42,707 |
| LUIS FERNANDEZ-TRINCHET | CHIEF HOUSING OFFICER Key employee | 35 | $457,278 | $0 | $15,651 |
| LORRAINE COLEMAN | SVP/DEVELOPMENT,POLICYPLANNING Highest-paid employee | 35 | $249,739 | $0 | $26,948 |
| DAVID ALMONTE | DIRECTOR - HOUSING DEVELOPMENT Highest-paid employee | 35 | $189,470 | $0 | $42,442 |
| Anne-Marie A Hendrickson | SR. VP of Affordable Housing Key employee | 35 | $176,535 | $0 | $7,605 |
| CORNELIA NAROVICI | CONSTRUCTION DIRECTOR Highest-paid employee | 35 | $154,077 | $0 | $20,332 |
| ELIEZER RODRIGUEZ ESQ | Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Carmen S Melero | Vice Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Marybeth Hotaling | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ARNIE SEGARRA | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 311 E 175TH ST, BRONX, NY 10457-5859
- In care of
- % STEVE KADIN
- Mailing address (990-N for 2021)
- 113 East 175th Street, Bronx NY 10457
- Principal officer (990 for 2024)
- Raul Russi, 311 East 175th Street, Bronx, NY 10457
- Principal officer (990-N for 2021)
- Eduardo Alayon, 113 East 175th Street, Bronx NY 10457
- Signed the 990
- Raul Russi, President
- Phone
- (718) 299-1100
- Website
- WWW.ACACIANETWORK.ORG
- Return prepared by
- WithumSmithBrown PC
Mission
TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY.
Program accomplishments
- THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK.Expenses $6,517,749 · revenue $5,277,570
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-3608906
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S210)
- Assets (IRS master file)
- $50,738,044
- Income (IRS master file)
- $5,678,952
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,678,952 | $7,060,417 | $50,738,044 | XML |
| 990 | December 2023 | $7,768,189 | $9,682,782 | $46,450,343 | XML |
| 990 | December 2022 | $7,954,144 | $9,492,956 | $46,161,430 | IRS |
| 990-N for 2021 Officer: Eduardo Alayon | December 31, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2021 | – | – | – | IRS |
| 990-N for 2020 Officer: Eduardo Alayon | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3608906).
Questions about THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION
- What is the EIN of THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION?
- The employer identification number (EIN) of THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION is 13-3608906.
- Is THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
- Are donations to THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 names Raul Russi.
- Who are the officers and directors of THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 lists 13 people; 4 received compensation from the organization.
- How much revenue does THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,678,952, expenses of $7,060,417 and total assets of $50,738,044 at year end.
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