SOMALTOW HOUSING COMPANY INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: SOMALTOW HOUSING COMPANY INC (EIN 23-7120738)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-11-12
IRS object ID: 202413179349306681
Schema version: 2023v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule L
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-11-12T14:32:32-06:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	141555429	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	UHY ADVISORS NORTHEAST INC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	4 TOWER PLACE EXECUTIVE PARK 7TH	AddressLine1Txt
Address Line2	FLOOR	AddressLine2Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12203	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	237120738	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SOMALTOW HOUSING COMPANY INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	SOMA	BusinessNameControlTxt
Phone	5184630294	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	PETER MCKEE	PersonNm
Person Title	VICE-PRESIDENT	PersonTitleTxt
Phone	5184630294	PhoneNum
Signature	2024-11-12	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (1)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	XIAOQIANG ZHANG	PreparerPersonNm
PTIN	P01577994	PTIN
Phone	5184493166	PhoneNum
Preparation	2024-11-12	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2024-10-15 13:58:12Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	GARY HALLOCK	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$5,718,166	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1971	FormationYr
Legal Domicile State	NY	LegalDomicileStateCd
Activity Or Mission	TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.	ActivityOrMissionDesc
Voting Members Governing Body	8	VotingMembersGoverningBodyCnt
Voting Members Independent	8	VotingMembersIndependentCnt
Total Employee	27	TotalEmployeeCnt
Total Volunteers	8	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$24,000	CYContributionsGrantsAmt
PY Program Service Revenue	$2,950,346	PYProgramServiceRevenueAmt
CY Program Service Revenue	$3,964,342	CYProgramServiceRevenueAmt
PY Investment Income	$185,909	PYInvestmentIncomeAmt
CY Investment Income	$386,243	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$3,136,255	PYTotalRevenueAmt
CY Total Revenue	$4,374,585	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$602,521	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$0	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$3,236,883	PYOtherExpensesAmt
CY Other Expenses	$4,808,920	CYOtherExpensesAmt
PY Total Expenses	$3,839,404	PYTotalExpensesAmt
CY Total Expenses	$4,808,920	CYTotalExpensesAmt
PY Revenues Less Expenses	-$703,149	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$434,335	CYRevenuesLessExpensesAmt
Total Assets BOY	$18,904,526	TotalAssetsBOYAmt
Total Assets EOY	$12,289,182	TotalAssetsEOYAmt
Total Liabilities BOY	$5,016,411	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$13,888,115	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$12,289,182	NetAssetsOrFundBalancesEOYAmt
Mission	TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$4,778,961	ExpenseAmt
Revenue	$3,964,342	RevenueAmt
Desc	TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.	Desc
Total Program Service Expenses	$4,778,961	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	0	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	0	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	Yes (1)	ReportOtherAssetsInd
Report Other Liabilities	0	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	0	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	Yes (1)	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	Yes (1)	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	Yes (1)	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	10	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	27	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	0	QuidProQuoContributionsInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	8	GoverningBodyVotingMembersCnt
Independent Voting Member	8	IndependentVotingMemberCnt
Family Or Business Rln	Yes (1)	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	0	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	Yes (1)	InvestmentInJointVentureInd
Written Policy Or Procedure	0	WrittenPolicyOrProcedureInd
States Where Copy Of Return Is Fld	NY	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	KIM HANSEN	PersonNm
Phone	5184630294	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd
TYLER FRONTE
DIRECTOR	0.50	0.50	Yes (X)	$0	$0	$0
CAREN HICKS
DIRECTOR	0.50	0.50	Yes (X)	$0	$0	$0
ADAM LASEK
DIRECTOR	0.50	0.00	Yes (X)	$0	$0	$0
STEVE REHFUSS
DIRECTOR	0.75	0.75	Yes (X)	$0	$0	$0
GARY HALLOCK
PRESIDENT	2.50	2.50	Yes (X)	$0	$0	$0	Yes (X)
PETER MCKEE
VICE-PRESIDENT	1.00	1.00	Yes (X)	$0	$0	$0	Yes (X)
JOHN SABURRO
TREASURER	1.00	1.00	Yes (X)	$0	$0	$0	Yes (X)
ERIC SPRAGUE
SECRETARY	0.50	0.50	Yes (X)	$0	$0	$0	Yes (X)
KIMBERLY HANSEN
EXECUTIVE DIRECTOR	5.00	35.00		$109,529	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$109,529	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
BISHOP BEAUDRY CONSTRUCTION LLC
2885 CURRY RD	SCHENECTADY	NY	12303	CONSTRUCTION SERVICES	$156,880
GORDON BEACH
25 OLD RAVENA RD	SELKIRK	NY	12158	FLOORING CONTRACTOR	$134,795

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	2	CntrctRcvdGreaterThan100KCnt
Info In Schedule O Part VIII	Yes (X)	InfoInScheduleOPartVIIIInd
All Other Contributions	$24,000	AllOtherContributionsAmt
Total Contributions	$24,000	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
LOW-INCOME HOUSING RENTS (SMT LP)	531110	$3,369,715	$3,369,715
MORTGAGE INTEREST	522292	$477,264	$477,264
MANAGEMENT FEE	523940	$117,363	$117,363

Field	Value	IRS element (for citing)
Total Program Service Revenue	$3,964,342	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$62,487	TotalRevenueColumnAmt
Exclusion	$62,487	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$1,667,337	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$1,343,581	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$323,756	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$323,756	TotalRevenueColumnAmt
Exclusion	$323,756	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,374,585	TotalRevenueColumnAmt
Related Or Exempt Func Income	$3,964,342	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$386,243	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$2,659	TotalAmt
Management And General	$2,659	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$3,400	TotalAmt
Management And General	$3,400	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$10,480	TotalAmt
Management And General	$10,480	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$950	TotalAmt
Management And General	$950	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$6,370	TotalAmt
Management And General	$6,370	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
RENTAL EXPENSES SMT LP	$4,066,969	$4,066,969
INTEREST EXP - SMTLP	$644,741	$644,741
BAD DEBTS	$67,251	$67,251
DONATIONS	$6,100		$6,100

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$4,808,920	TotalAmt
Program Services	$4,778,961	ProgramServicesAmt
Management And General	$29,959	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part X	Yes (X)	InfoInScheduleOPartXInd

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$275,713	BOYAmt
EOY	$153,731	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$93,198	BOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$140,841	BOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$0	LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$13,192,885	BOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$2,406,768	BOYAmt
EOY	$2,736,945	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
EOY	-$10,745,953	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$2,795,121	BOYAmt
EOY	$20,144,459	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$18,904,526	BOYAmt
EOY	$12,289,182	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$56,859	BOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$64,421	BOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$5,120,000	BOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$101,763	BOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	-$326,632	BOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$5,016,411	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$13,888,115	BOYAmt
EOY	$12,289,182	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$13,888,115	BOYAmt
EOY	$12,289,182	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$18,904,526	BOYAmt
EOY	$12,289,182	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$434,335	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$134,100	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	-$1,030,498	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	Yes (1)	AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
FS Audited	0	FSAuditedInd
Audit Committee	0	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	Yes (X)	PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

Field	Value	IRS element (for citing)
Current Tax Year	$24,000	CurrentTaxYearAmt
Total	$24,000	TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$2,727,619	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,710,088	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,700,410	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$2,950,346	CurrentTaxYearMinus1YearAmt
Current Tax Year	$3,964,342	CurrentTaxYearAmt
Total	$15,052,805	TotalAmt

Total509 Total509Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$2,727,619	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,710,088	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,700,410	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$2,950,346	CurrentTaxYearMinus1YearAmt
Current Tax Year	$3,988,342	CurrentTaxYearAmt
Total	$15,076,805	TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

Field	Value	IRS element (for citing)
Current Tax Year	$554,119	CurrentTaxYearAmt
Total	$554,119	TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

Field	Value	IRS element (for citing)
Current Tax Year	$554,119	CurrentTaxYearAmt
Total	$554,119	TotalAmt

Field	Value	IRS element (for citing)
Public Support Total509	$14,522,686	PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$61,905	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$50,731	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$41,106	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$37,148	CurrentTaxYearMinus1YearAmt
Current Tax Year	$62,487	CurrentTaxYearAmt
Total	$253,377	TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$61,905	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$50,731	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$41,106	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$37,148	CurrentTaxYearMinus1YearAmt
Current Tax Year	$62,487	CurrentTaxYearAmt
Total	$253,377	TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$2,789,524	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,760,819	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,741,516	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$2,987,494	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,050,829	CurrentTaxYearAmt
Total	$15,330,182	TotalAmt

Field	Value	IRS element (for citing)
Public Support CY509	0.94730	PublicSupportCY509Pct
Public Support PY509	0.97910	PublicSupportPY509Pct
Investment Income CY	0.01650	InvestmentIncomeCYPct
Investment Income PY	0.02000	InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509	Yes (X)	ThirtyThrPctSuprtTestsCY509Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

Field	Value	IRS element (for citing)
Form And Line Reference	SCH. A, PART III, LINE 2	FormAndLineReferenceDesc
Explanation	PROGRAM REVENUES INCLUDE RENTS RECEIVED IN SOUTH MALL TOWERS ALBANY LP.	ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Agent Trustee Etc	0	AgentTrusteeEtcInd
Incl Escrow Custodial Acct Liab	0	InclEscrowCustodialAcctLiabInd
Total Book Value Land Buildings	$0	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (4 entries)

DescDesc	Book ValueBookValueAmt
ACCRUED MANAGEMENT FEE RECEIVABLE	$9,781
MORTGAGE INTEREST RECEIVABLE	$6,790,885
DEVELOPER FEE RECEIVABLE	$138,357
MORTGAGE RECEIVABLE	$13,205,436

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$20,144,459	TotalBookValueOtherAssetsAmt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxt	TransactionTransactionAmt	TransactionTransactionDesc	Sharing Of RevenuesSharingOfRevenuesInd
BISHOP BEAUDRY CONSTRUCTION LLC
DIRECTOR LASEK AND EXEC DIRECTOR'S HUSBAND ARE PRINCIPALS IN BB CONST	$156,880	CONSTRUCTION SERVICES	0
EMPLOYEES 2
FAMILY MEMBERS OF EXECUTIVE DIRECTOR	$106,949	COMPENSATION	0
REHFUSS LAW FIRM
DIRECTOR STEVE REHFUSS IS A PRINCIPAL IN THE LAW FIRM	$50,399	PROFESSIONAL SERVICES	0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990 - ADDITIONAL INFORMATION	SOMALTOW HOUSING COMPANY INC ("SOMALTOW") IS THE SPONSOR OF A LOW INCOME HOUSING PROJECT IN ALBANY, NEW YORK, COMPRISED OF ABOUT 345 RENTAL UNITS. THE OWNERSHIP AND OPERATIONS OF THE PROJECT ARE PRESENTLY UNDER SOUTH MALL TOWERS ALBANY LP, OF WHICH SOMALTOW IS A 99.991% LIMITED PARTNER. THE 0.009% GENERAL PARTNER, TOWERS HOUSING ALBANY INC., IS A NOT-FOR-PROFIT CORPORATION. THE SAME INDIVIDUALS COMPRISE THE MAJORITY OF EACH RESPECTIVE BOARD OF SOMALTOW AND TOWERS HOUSING. THE FOLLOWING SHOULD BE CONSIDERED IN READING THE INFORMATION AND FIGURES PRESENTED IN THIS RETURN, IN PARTICULAR THE COMPARATIVE BALANCE SHEETS PRESENTED IN PART X. PRIOR YEAR'S FORM 990 PRESENTED THE CONSOLIDATED BALANCE SHEET AND REVENUES AND EXPENDITURES OF SOMALTOW AND SOUTH MALL TOWERS. THE 2023 FORM 990, UNDER APPLICABLE ACCOUNTING RULES, IS NOW PRESENTED ON A SEPARATE-COMPANY BASIS WITH THE YEAR-END BALANCE SHEET OF SOMALTOW. REVENUES AND EXPENSES INCLUDE SOMALTOW'S SHARE OF THE REVENUES AND EXPENSES OF SOUTH MALL TOWERS. DUE TO THE TRANSITION FROM CONSOLIDATED TO SEPARATE COMPANY FIGURES AN ADJUSTMENT TO FUNDS OF $(1,030,498) SHOWS ON THE FORM 990, PART XI, LINE 9. ALSO DUE TO THIS CHANGE IN PRESENTATION NO ASSETS SHOW ON LINE 10 IN THE BALANCE SHEET, AND NO LIABILITIES SHOW ON THE BALANCE SHEET SINCE THESE EXIST IN SOUTH MALL TOWERS. THE YEAR-END NEGATIVE CAPITAL BALANCE IN SOMALTOW'S OWNERSHIP INTEREST IN SOUTH MALL TOWERS IS SHOWN ON THE BALANCE SHEET ON LINE 13, UNDER PROGRAM-RELATED INVESTMENTS.
FORM 990, PART VI, SECTION A, LINE 2	OFFICER, DIRECTOR, TRUSTEE, KEY-EMPLOYEE RELATIONSHIPS: DIRECTOR ADAM LASEK AND HUSBAND OF THE EXECUTIVE DIRECTOR HAVE A BUSINESS RELATIONSHIP.
FORM 990, PART VI, SECTION B, LINE 11B	FORM 990 REVIEW PROCESS: A DRAFT COPY OF THE FORM 990 WAS SENT TO THE TREASURER FOR HIS REVIEW AND COMMENTS PRIOR TO A REVIEW BY THE OTHER BOARD MEMBERS. A DRAFT COPY OF THE FORM 990 WAS THEN SENT TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	CONFLICT OF INTEREST POLICY PROCEDURES: ALL BOARD MEMBERS ARE REQUIRED TO RESPOND TO AN ANNUAL QUESTIONNAIRE REGARDING ANY CONFLICTS OF INTEREST. ANY NOTED CONFLICTS ARE RESOLVED IN A TIMELY MANNER. COPIES OF THE QUESTIONNAIRE ARE MAINTAINED BY THE ORGANIZATION. ANY DIRECTOR OR OFFICER MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ARE REQUIRED TO RECUSE THEMSELVES FOM ANY DECISION ON MATTERS IN WHICH THEY HAVE AN INTEREST.
FORM 990, PART VI, SECTION C, LINE 19	PUBLIC ACCESS TO GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS: THESE ARE AVAILABLE ON REQUEST.
PART VI, LINE 16	PARTICIPATION IN JOINT VENTURE OR SIMILAR ARRANGEMENT WITH A TAXABLE ENTITY: THE CORPORATION IS A 99.991% LIMITED PARTNER IN SOUTH MALL TOWERS ALBANY LP, WHICH IS THE OWNER OF RECORD AND MANAGER OF THE LOW INCOME HOUSING PROJECT. THE GENERAL PARTNER OF SOUTH MALL TOWERS IS TOWERS HOUSING ALBANY INC., WHICH IS A NON-PROFIT CORPORATION. SOMALTOW HOUSING AND TOWERS HOUSING ARE UNDER COMMON CONTROL.
FORM 990, PART XI, LINE 9:	ADJUSTMENT FOR DECONSOLIDATION -1,030,498.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

Field	Value	IRS element (for citing)
Business Name Line1	CAPITAL HOUSING DEVELOPMENT FUND COMPANY INC	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Field	Value	IRS element (for citing)
EIN	880732433	EIN
Primary Activities	INACTIVE	PrimaryActivitiesTxt
Legal Domicile State	NY	LegalDomicileStateCd
Exempt Code Section	501(C)(4)	ExemptCodeSectionTxt
Controlled Organization	0	ControlledOrganizationInd

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp

Related Organization Name RelatedOrganizationName

Field	Value	IRS element (for citing)
Business Name Line1	SOUTH MALL TOWERS ALBANY LP	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Field	Value	IRS element (for citing)
EIN	010747926	EIN
Primary Activities	LOW INCOME HOUSING	PrimaryActivitiesTxt
Legal Domicile State	NY	LegalDomicileStateCd
Predominant Income Type	RENTALS	PredominantIncomeTypeTxt
Share Of Total Income	$3,370,018	ShareOfTotalIncomeAmt
Share Of EOY Assets	$13,923,126	ShareOfEOYAssetsAmt
Disproportionate Allocations	0	DisproportionateAllocationsInd
General Or Managing Partner	0	GeneralOrManagingPartnerInd
Ownership	0.99990	OwnershipPct

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

Field	Value	IRS element (for citing)
Business Name Line1	TOWERS HOUSING ALBANY INC	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	101 S PEARL ST	AddressLine1Txt
City	ALBANY	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	12207	ZIPCd

Field	Value	IRS element (for citing)
EIN	020647484	EIN
Primary Activities	HOLDING COMPANY	PrimaryActivitiesTxt
Legal Domicile State	NY	LegalDomicileStateCd
Entity Type	C	EntityTypeTxt
Share Of Total Income	$1	ShareOfTotalIncomeAmt
Controlled Organization	0	ControlledOrganizationInd

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	Yes (1)	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	Yes (1)	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	0	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	Yes (1)	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	0	LoansOrGuaranteesFromOthOrgInd
Div Related Organization	0	DivRelatedOrganizationInd
Asset Sale To Other Org	0	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	0	AssetPurchaseFromOtherOrgInd
Asset Exchange	0	AssetExchangeInd
Rental Of Facilities To Oth Org	0	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	0	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	Yes (1)	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	0	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	0	SharingOfFacilitiesInd
Paid Employees Sharing	Yes (1)	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	0	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	0	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	0	TransferToOtherOrgInd
Transfer From Other Org	0	TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (4 entries)

Transaction TypeTransactionTypeTxt	InvolvedInvolvedAmt	Method Of Amount DeterminationMethodOfAmountDeterminationTxt
SOUTH MALL TOWERS ALBANY LP
A	$477,264	INCOME ACCRUED
SOUTH MALL TOWERS ALBANY LP
B	$24,000	CAPITAL CONTRIBUTION
SOUTH MALL TOWERS ALBANY LP
D	$20,144,459	AMOUNT DUE
SOUTH MALL TOWERS ALBANY LP
L	$117,363	INCOME ACCRUED