PURCHASE SENIOR LEARNING COMMUNITY INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- PURCHASE SENIOR LEARNING COMMUNITY INC (EIN 61-1816180)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-09
- IRS object ID
- 202331299349302218
- Schema version
- 2021v4.2
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-09T11:49:49-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FORVIS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 RIDGEFIELD COURT | AddressLine1Txt |
| City | ASHEVILLE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28806 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 611816180 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PURCHASE SENIOR LEARNING COMMUNITY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PURC | BusinessNameControlTxt |
| Phone | 9142516000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 735 ANDERSON HILL ROAD | AddressLine1Txt |
| City | PURCHASE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10577 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JUDITH J NOLAN | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 9142516000 | PhoneNum |
| Signature | 2023-05-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JUDITH | PersonFirstNm |
| Person Last | NOLAN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AMY BIBBY | PreparerPersonNm |
| PTIN | P00445891 | PTIN |
| Phone | 8282542254 | PhoneNum |
| Preparation | 2023-05-09 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JUDITH J NOLAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 735 ANDERSON HILL ROAD | AddressLine1Txt |
| City | PURCHASE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10577 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $50,907 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.SENIORLIVINGATPURCHASE.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2016 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | TO DEVELOP & OPERATE A SENIOR LEARNING HOUSE COMMUNITY ON THE GROUNDS OF SUNY, PURCHASE COLLEGE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $273,345 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $50,907 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $273,345 | PYTotalRevenueAmt |
| CY Total Revenue | $50,907 | 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 | $0 | 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 | $2,693,271 | PYOtherExpensesAmt |
| CY Other Expenses | $2,892,712 | CYOtherExpensesAmt |
| PY Total Expenses | $2,693,271 | PYTotalExpensesAmt |
| CY Total Expenses | $2,892,712 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,419,926 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,841,805 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $28,355,738 | TotalAssetsBOYAmt |
| Total Assets EOY | $444,361,714 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $35,378,661 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $455,645,416 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$7,022,923 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$11,283,702 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO DEVELOP AND OPERATE A SENIOR LEARNING HOUSING COMMUNITY ON LAND LEASED FROM THE STATE UNIVERSITY OF NEW YORK ON THE PURCHASE COLLEGE CAMPUS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE PURCHASE COLLEGE ADVANCEMENT CORPORATION (PCAC), A MEMBER-LESS NEW YORK STATE NOT-FOR-PROFIT CORPORATION WITH FEDERAL 501(C)(3) DESIGNATION, WAS FORMED TO DEVELOP AND OPERATE A SENIOR LIVING AND LEARNING COMPLEX TO BE BUILT ON THE CAMPUS OF PURCHASE COLLEGE, STATE UNIVERSITY OF NEW YORK (SUNY), ON A 40.05 ACRE PARCEL OF LAND LEASED FROM SUNY. USING A $5,250,000 GRANT FROM PURCHASE COLLEGE FOUNDATION HOUSING CORPORATION (PCFHC), PCAC STEWARDED THE ENABLING LEGISLATION, MARKET RESEARCH, DESIGN, AND CONTRACTUAL ARRANGEMENTS WITH THE VARIOUS PROJECT CONSULTANTS AND WITH AN OPERATIONS MANAGER.KEY PROVISIONS OF THE ENABLING LEGISLATION INCLUDE GIVING PCAC THE RIGHT TO CONSTRUCT UP TO 385 LIVING UNITS, OF WHICH 20% ARE TO BE AFFORDABLE TO RESIDENTS WHOSE INCOME IS 80% OR LESS OF THE WESTCHESTER COUNTY MEDIAN INCOME, AND THAT THE PROCEEDS ARE TO BE USED BY THE COLLEGE, DIVIDED 75% FOR TAP ELIGIBLE STUDENT SCHOLARSHIPS AND 25% FOR NEW FULL-TIME FACULTY. THE INITIAL PHASE OF THE DEVELOPMENT CONSISTS OF 220 INDEPENDENT LIVING UNITS, OF WHICH 44 ARE THE AFOREMENTIONED AFFORDABLE UNITS, 36 ASSISTED LIVING SUITES, 32 MEMORY CARE SUITES, AND A BUILDING CONTAINING COMMUNITY AMENITIES SUCH AS DINING VENUES, HEALTH AND WELLNESS FACILITIES, CLASSROOMS, ETC., ALL TOTALING APPROXIMATELY 550,000 OF CONDITIONED SPACE, AND RELATED INFRASTRUCTURE IMPROVEMENTS. THE COMMUNITY'S OFFERING PLAN FOR THIS INITIAL PHASE HAS BEEN APPROVED BY THE NEW YORK STATE ATTORNEY GENERAL.PCAC CREATED A SEPARATE NEW YORK STATE NOT-FOR-PROFIT CORPORATION, PURCHASE SENIOR LEARNING COMMUNITY INC. (PSLC), WHOSE SOLE MEMBER IS PCAC. PSLC HAS ALSO RECEIVED 501(C)(3) DESIGNATION BY THE INTERNAL REVENUE SERVICE. PSLC IS THE SPONSOR OF THE COMMUNITY, IS THE OBLIGOR OF THE TAX EXEMPT BOND FINANCING, AND IS THE SUB-LESSEE OF THE LAND. AS OF MAY, 2018, ALL CONTRACTS AND WORK PRODUCTS HAVE BEEN TRANSFERRED FROM PCAC TO PSLC.IN OCTOBER, 2018, PSLC RAISED $15,000,000 IN BOND ANTICIPATION NOTE FUNDS WHICH WERE USED TO COMPLETE THE REMAINDER OF THE PRE-DEVELOPMENT AND PRE-MARKETING EFFORTS. ON NOVEMBER 10, 2021, PSLC CLOSED ON THE ISSUANCE OF $398,090,000 OF BONDS ISSUED THROUGH THE WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION, OF WHICH $391,200,000 ARE TAX-EXEMPT TO THE BONDHOLDERS FOR BOTH NEW YORK STATE AND FEDERAL INCOME TAXES, AND $6,890,000 ARE TAXABLE. WITH INITIAL ISSUE PREMIUMS, THE TOTAL PROCEEDS OF THE BOND FINANCING WAS $406,084,608. THE BOND PROCEEDS ARE BEING USED TO: REFUND THE $15,000,000 OF BOND ANTICIPATION NOTES, TOGETHER WITH ACCRETED INTEREST; TO FUND THE HARD AND SOFT COSTS OF THE CONSTRUCTION OF THE PROJECT; TO FUND CAPITALIZED INTEREST; TO FUND DEBT SERVICE RESERVES; TO FUND CERTAIN START-UP LOSSES; AND TO FUND THE COSTS OF ISSUANCE. CONSTRUCTION OF THE COMMUNITY, KNOWN AS BROADVIEW SENIOR LIVING AT PURCHASE COLLEGE, BEGAN IMMEDIATELY AFTER FINANCING WAS OBTAINED IN NOVEMBER, 2021. THE COMMUNITY IS SCHEDULED TO OPEN FOR OCCUPANCY OF ITS FIRST RESIDENTS IN FALL OF 2023. ALL CONSTRUCTION IS SCHEDULED TO BE COMPLETED BY SPRING OF 2024.THE GOALS OF THE COMMUNITY ARE TO SUPPORT THE EDUCATION MISSION OF THE COLLEGE THROUGH THE PROVISION OF REVENUE, GENERATED FROM GROUND RENT OF THE LEASE, TO FUND SCHOLARSHIPS FOR STUDENTS, TO ENHANCE THE COLLEGE'S ABILITY TO COMPETE FOR FACULTY DEDICATED TO TRANSFORMATIVE ENGAGEMENT WITH THE STUDENT BODY, AND TO CREATE AN ENVIRONMENT FOSTERING INQUIRY BASED, INTERGENERATIONAL LEARNING THAT NOT ONLY SUSTAINS LIFE, BUT IMPROVES IT FOR ALL INVOLVED, ALL IN FURTHERANCE OF THE PURPOSES AND OBJECTIVES OF THE ENABLING LEGISLATION.WITH THE ADDITION OF THE RESIDENTS OF THE SENIOR LIVING COMMUNITY, THE COLLEGE WILL BECOME A CENTER FOR LIFE-LONG LEARNING. IT WILL OFFER STUDENTS OF ALL AGES UNIQUE, NON-CONVENTIONAL ACCESS TO OPPORTUNITIES FOR INTELLECTUAL AND SOCIAL GROWTH THROUGH ACADEMIC, CULTURAL AND SOCIAL ACTIVITIES.A SECOND SET OF GOALS, EQUALLY AS IMPORTANT, IS TO PROVIDE MUCH NEEDED, HIGH-QUALITY SERVICE-BASED HOUSING AND CARE FOR AREA SENIORS. | Desc |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | 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 | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| 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 | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | 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 | 13 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | 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 | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | 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 | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELIZABETH ROBERTSON PRESIDENT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9144174201 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 735 ANDERSON HILL ROAD | AddressLine1Txt |
| City | PURCHASE | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10577 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| ELIZABETH ROBERTSON | |||||||
| CHAIRMAN/PRESIDENT | 8.00 | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| BARRY PEARSON | |||||||
| VICE CHAIRMAN | 5.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JUDITH NOLAN | |||||||
| TREASURER | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| CARL AUSTIN | |||||||
| BOARD MEMBER | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | |
| THOMAS J SCHWARZ | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| STEVEN MABUS RESIGNED MAR '22 | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| EARLE YAFFA | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ERNIE PALMIERI | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KEVIN PLUNKETT | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MILAGROS PENA | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MICHELLE IFILL | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DREW FUNG | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR KAARE WEBER | |||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WAYNE RUSH | |||||||
| VICE PRESIDENT/PROJECT MGR/SECRETARY | 15.00 | 5.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| LCSD-SCD PARTNERS LLC | |||||
| 400 LOCUST STREET STE 820 | DES MOINES | IA | 50309 | DEVELOPMENT MANAGEMENT SERVICES | $3,733,250 |
| HCM DESIGN INC | |||||
| 700 EAST PRATT ST SUITE 1200 | BALTIMORE | MD | 21202 | DESIGN FEES | $1,441,501 |
| FIRST AMERICAN TITLE INS CO | |||||
| 666 THIRD AVENUE 5TH FLOOR | NEW YORK | NY | 10017 | BOND TITLE INSURANCE | $1,042,135 |
| WESTCHESTER LOCAL DEVELOPMENT CORP | |||||
| 148 MARTINE AVENUE | WHITE PLAINS | NY | 10601 | BOND ISSUER FEE | $447,553 |
| NIXON PEABODY | |||||
| 1300 CLINTON SQUARE | ROCHESTER | NY | 14604 | BOND COUNSEL - LEGAL FEES | $415,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $50,907 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $50,907 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $50,907 | TotalRevenueColumnAmt |
| Exclusion | $50,907 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $50,907 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $50,907 | 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 | $1,500 | TotalAmt |
| Management And General | $1,500 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,910 | TotalAmt |
| Management And General | $34,910 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $714,662 | TotalAmt |
| Management And General | $714,662 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,835,591 | TotalAmt |
| Management And General | $1,835,591 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10 | TotalAmt |
| Management And General | $10 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $145,833 | TotalAmt |
| Management And General | $145,833 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,945 | TotalAmt |
| Management And General | $3,945 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,363 | TotalAmt |
| Management And General | $15,363 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $140,898 | TotalAmt |
| Management And General | $140,898 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,892,712 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $2,892,712 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,514 | BOYAmt |
| EOY | $970,307 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,297,782 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,897 | BOYAmt |
| EOY | $574,108 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $82,926,640 | LandBldgEquipCostOrOtherBssAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,568,158 | BOYAmt |
| EOY | $82,926,640 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $340,195,586 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,407,387 | BOYAmt |
| EOY | $19,695,073 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,355,738 | BOYAmt |
| EOY | $444,361,714 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,699,189 | BOYAmt |
| EOY | $36,515,649 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,395,468 | BOYAmt |
| EOY | $398,506,104 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,416,389 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,867,615 | BOYAmt |
| EOY | $20,623,663 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,378,661 | BOYAmt |
| EOY | $455,645,416 | 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 | -$7,022,923 | BOYAmt |
| EOY | -$11,283,702 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$7,022,923 | BOYAmt |
| EOY | -$11,283,702 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,355,738 | BOYAmt |
| EOY | $444,361,714 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$2,841,805 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$922,889 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$496,085 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | 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 Minus4 Years | $600,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $851,547 | CurrentTaxYearMinus3YearsAmt |
| Total | $1,451,547 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $600,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $851,547 | CurrentTaxYearMinus3YearsAmt |
| Total | $1,451,547 | 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) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $1,451,547 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $183,474 | CurrentTaxYearMinus3YearsAmt |
| Total | $183,474 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $183,474 | CurrentTaxYearMinus3YearsAmt |
| Total | $183,474 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $600,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,035,021 | CurrentTaxYearMinus3YearsAmt |
| Total | $1,635,021 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.88780 | PublicSupportCY509Pct |
| Investment Income CY | 0.11220 | InvestmentIncomeCYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $82,926,640 | OtherCostOrOtherBasisAmt |
| Book Value | $82,926,640 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $82,926,640 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | REFUNDABLE DEPOSITS | Desc |
| Amt | $20,623,663 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $20,623,663 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | -$1,104,900 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$922,889 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $263,167 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | -$496,085 | OtherRevenueAmt |
| Revenue Not Reported | -$1,155,807 | RevenueNotReportedAmt |
| Revenue Subtotal | $50,907 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $50,907 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,155,879 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $263,167 | DonatedServicesUseFcltsAmt |
| Expenses Not Reported | $263,167 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,892,712 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $2,892,712 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | PURCHASE SENIOR LEARNING COMMUNITY INC. ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT AS TO WHETHER THE UNCERTAINTY WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON EXTINGUISHMENT OF DEBT -496,085. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (4 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION | ||||||||
| A | 455135576 | 95737TEU6 | 2021-11-10 | $219,130,000 | PSLC PROJECT & ENTRANCE FEE PRINCIPAL REDEMPTION - SERIES 2021A | 0 | 0 | 0 |
| WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION | ||||||||
| B | 455135576 | 95737TEW2 | 2021-11-10 | $23,605,000 | PSLC PROJECT & ENTRANCE FEE PRINCIPAL REDEMPTION - SERIES 2021B | 0 | 0 | 0 |
| WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION | ||||||||
| C | 455135576 | 95737TEX0 | 2021-11-10 | $58,775,000 | PSLC PROJECT & ENTRANCE FEE PRINCIPAL REDEMPTION - SERIES2021C | 0 | 0 | 0 |
| WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION | ||||||||
| D | 455135576 | 95737TEY8 | 2021-11-10 | $89,690,000 | PSLC PROJECT & ENTRANCE FEE PRINCIPAL REDEMPTION - SERIES 2021D | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (4 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | UnspentUnspentAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $227,453,947 | $13,814,750 | $4,542,492 | $20,828,569 | $188,268,137 | 2024 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $23,639,228 | $849,780 | $472,100 | $2,164,708 | $20,152,641 | 2024 | Yes (1) | 0 | Yes (1) | Yes (1) |
| C | $58,860,226 | $1,880,800 | $1,175,500 | $5,389,989 | $50,413,937 | 2024 | Yes (1) | 0 | Yes (1) | Yes (1) |
| D | $89,820,054 | $2,578,588 | $1,793,800 | $8,225,063 | $77,222,603 | 2024 | Yes (1) | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (4 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| D | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (4 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
| D | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (4 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
| C | Yes (1) |
| D | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| DATE REBATE COMPUTATION PERFORMED | ISSUER NAME: WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2022 ISSUER NAME: WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2022 ISSUER NAME: WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2022 ISSUER NAME: WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2022 |
| SCHEDULE K, PART II, LINE 3, COLUMN A - D | THE AMOUNTS REFLECTED ON LINE 3 INCLUDE INTEREST EARNED ON BOND PROCEEDS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE MEMBERSHIP OF THE CORPORATION SHALL CONSIST OF ONE MEMBER: PURCHASE COLLEGE ADVANCEMENT CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBER SHALL DESIGNATE AND ELECT THE DIRECTORS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBER SHALL ESTABLISH, AND AMEND AS NECESSARY, THE BY-LAWS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS FIRST REVIEWED BY THE MANAGER OF FINANCE AND THE DIRECTOR OF FINANCE FOR CAMPUS FOUNDATIONS AND RELATED ENTITIES. PENDING THEIR APPROVAL, AND PRIOR TO FILING, THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE FULL BOARD FOR COMMENTS OR QUESTIONS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY PROVIDES FOR ANNUAL WRITTEN ACKNOWLEDGEMENT BY EACH TRUSTEE OR OFFICER THAT EACH HAS READ AND IS FAMILIAR WITH THE CONFLICT OF INTEREST POLICY AND AS TO WHETHER OR NOT THE TRUSTEE OR OFFICER HAS A CONFLICT OF INTEREST. IF A CONFLICT EXISTS, THE COMPLETE DETAILS OF THE CONFLICT ARE TO BE DESCRIBED IN WRITING AND SUBMITTED TO THE BOARD CHAIR OR THE PRESIDENT. THE BOARD CHAIR OR PRESIDENT SHALL REFER THE ISSUE TO THE EXECUTIVE COMMITTEE, OR OTHER BOARD COMMITTEE HAVING DESCISION-MAKING AUTHORITY OVER THE SUBSTANTIVE MATTER IN QUESTION. THE TRUSTEE OR OFFICER WHO DISCLOSES A DIRECT OR INDIRECT FINANCIAL INTEREST IN A PROPOSED OR EXISTING CONTRACT, TRANSACTION, OR ARRANGEMENT MAY MAKE A PRESENTATION AND RESPOND TO QUESTIONS BY THE BODY, BUT AFTER SUCH PRESENTATION, HE OR SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE CONTRACT, TRANSACTION, OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. EACH YEAR AT THE BOARD OF TRUSTEES' ANNUAL MEETING, THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED AND WRITTEN ACKNOWLEDGEMENTS SUBMITTED DURING THE COURSE OF THE YEAR, FINANCIAL RESULTS AND TRANSACTIONS ARE REVIEWED FOR REASONABLENESS AND APPROPRIATENESS, INCLUDING WITH REGARD TO ANY POTENTIAL FOR THERE BEING A CONFLICT. THE CONFLICT OF INTEREST POLICY EXPRESSLY STATES THAT FAMILY AND BUSINESS RELATIONSHIPS MAY BE SOURCES OF POTENTIAL CONFLICTS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | DEVELOPMENT AND MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 714,662. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 714,662. |
| FORM 990, PART XI, LINE 9: | LOSS ON EXTINGUISHMENT OF DEBT -496,085. |
| FORM 990. PART XII, LINE 2C | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PURCHASE COLLEGE ADVANCEMENT CORPORATION | |||||||||||
| 735 ANDERSON HILL ROAD | PURCHASE | NY | 10577 | 800432298 | MANAGE SENIOR LEARNING COMMUNITY AT SUNY PURCHASE | NY | 501(C)(3) | LINE 10 | N/A | 0 | |
| PURCHASE COLLEGE FOUNDATION HOUSING CORP | |||||||||||
| 735 ANDERSON HILL ROAD | PURCHASE | NY | 10577 | 134086734 | MANAGE AND OVERSEE DORMITORY AND FACILITIES AT SUNY PURCHASE | NY | 501(C)(3) | LINE 10 | 0 | STATE UNIVERSITY OF NEW YORK | |
| PURCHASE HOUSING CORPORATION II | |||||||||||
| 735 ANDERSON HILL ROAD | PURCHASE | NY | 10577 | 821262347 | MANAGE AND OVERSEE DORMITORY AND FACILITIES AT SUNY PURCHASE WAYBACK | NY | 501(C)(3) | LINE 10 | 0 | STATE UNIVERSITY OF NEW YORK | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | 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 | Yes (1) | 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 | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Comments