BETA

SOMALTOW HOUSING COMPANY INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
SOMALTOW HOUSING COMPANY INC (EIN 23-7120738)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-07-30
IRS object ID
202502119349301905
Schema version
2024v5.2
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

FieldValueIRS element (for citing)
Return2025-07-30T15:39:41-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN141555429PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1UHY ADVISORS NORTHEAST INCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14 TOWER PLACE EXECUTIVE PARK 7THAddressLine1Txt
Address Line2FLOORAddressLine2Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12203ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN237120738EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SOMALTOW HOUSING COMPANY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSOMABusinessNameControlTxt
Phone5184630294PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPETER MCKEEPersonNm
Person TitleVICE-PRESIDENTPersonTitleTxt
Phone5184630294PhoneNum
Signature2025-07-30SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonXIAOQIANG ZHANGPreparerPersonNm
PTINP01577994PTIN
Phone5184493166PhoneNum
Preparation2025-07-30PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerGARY HALLOCKPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$6,078,046GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1971FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTO 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 Body8VotingMembersGoverningBodyCnt
Voting Members Independent8VotingMembersIndependentCnt
Total Employee29TotalEmployeeCnt
Total Volunteers8TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$24,000PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$3,964,342PYProgramServiceRevenueAmt
CY Program Service Revenue$4,432,371CYProgramServiceRevenueAmt
PY Investment Income$386,243PYInvestmentIncomeAmt
CY Investment Income$119,941CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$4,374,585PYTotalRevenueAmt
CY Total Revenue$4,552,312CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$4,808,920PYOtherExpensesAmt
CY Other Expenses$5,069,990CYOtherExpensesAmt
PY Total Expenses$4,808,920PYTotalExpensesAmt
CY Total Expenses$5,069,990CYTotalExpensesAmt
PY Revenues Less Expenses-$434,335PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$517,678CYRevenuesLessExpensesAmt
Total Assets BOY$12,289,182TotalAssetsBOYAmt
Total Assets EOY$11,897,812TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,828TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$12,289,182NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$11,893,984NetAssetsOrFundBalancesEOYAmt
MissionTO 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 Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$4,998,963ExpenseAmt
Revenue$4,432,371RevenueAmt
DescTO 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$4,998,963TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam MemYes (1)BusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntYes (1)BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document13IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee29EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members8GoverningBodyVotingMembersCnt
Independent Voting Member8IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonKIM HANSENPersonNm
Phone5184630294PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
TYLER FRONTE
DIRECTOR0.500.50Yes (X)$0$0$0
CAREN HICKS
DIRECTOR0.500.50Yes (X)$0$0$0
ADAM LASEK
DIRECTOR0.500.00Yes (X)$0$0$0
STEVE REHFUSS
DIRECTOR0.750.75Yes (X)$0$0$0
GARY HALLOCK
PRESIDENT2.502.50Yes (X)$0$0$0Yes (X)
PETER MCKEE
VICE-PRESIDENT1.501.50Yes (X)$0$0$0Yes (X)
JOHN SABURRO
TREASURER1.001.00Yes (X)$0$0$0Yes (X)
ERIC SPRAGUE
SECRETARY0.500.50Yes (X)$0$0$0Yes (X)
KIMBERLY HANSEN
EXECUTIVE DIRECTOR5.0035.00$113,552$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$113,552TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
BISHOP BEAUDRY CONSTRUCTION LLC
2885 CURRY RDSCHENECTADYNY12303CONSTRUCTION SERVICES$407,752
GORDON BEACH
25 OLD RAVENA RDSELKIRKNY12158FLOORING CONTRACTOR$190,100
FORTRESS PEST CONTROL
1625 4TH AVEWATERVLIETNY12189EXTERMINATION SERVICES$108,025
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
LOW-INCOME HOUSING RENTS (SMT LP)531110$3,835,060$3,835,060
MORTGAGE INTEREST522292$477,534$477,534
MANAGEMENT FEE523940$119,777$119,777
FieldValueIRS element (for citing)
Total Program Service Revenue$4,432,371TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$100,770TotalRevenueColumnAmt
Exclusion$100,770ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$1,544,905SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$1,525,734SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$19,171SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$19,171TotalRevenueColumnAmt
Exclusion$19,171ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,552,312TotalRevenueColumnAmt
Related Or Exempt Func Income$4,432,371RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$119,941ExclusionAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$9,033TotalAmt
Management And General$9,033ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$34,874TotalAmt
Management And General$34,874ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$14,006TotalAmt
Management And General$14,006ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$3,764TotalAmt
Program Services$450ProgramServicesAmt
Management And General$3,314ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$9,800TotalAmt
Management And General$9,800ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
RENTAL EXPENSES SMT LP$4,346,563$4,346,563
INTEREST EXP - SMT LP$644,050$644,050
DONATIONS$7,900$7,900

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,069,990TotalAmt
Program Services$4,998,963ProgramServicesAmt
Management And General$71,027ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$153,731BOYAmt
EOY$278,373EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$2,736,945BOYAmt
EOY$2,671,790EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY-$10,745,953BOYAmt
EOY-$11,701,739EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$20,144,459BOYAmt
EOY$20,649,388EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$12,289,182BOYAmt
EOY$11,897,812EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$3,828EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$3,828EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$12,289,182BOYAmt
EOY$11,893,984EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$12,289,182BOYAmt
EOY$11,893,984EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$12,289,182BOYAmt
EOY$11,897,812EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$517,678ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$122,480NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewYes (1)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
FS Audited0FSAuditedInd
Audit Committee0AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$24,000CurrentTaxYearMinus1YearAmt
Total$24,000TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,710,088CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,700,410CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,950,346CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,964,342CurrentTaxYearMinus1YearAmt
Current Tax Year$4,432,371CurrentTaxYearAmt
Total$16,757,557TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,710,088CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,700,410CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,950,346CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,988,342CurrentTaxYearMinus1YearAmt
Current Tax Year$4,432,371CurrentTaxYearAmt
Total$16,781,557TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$554,119CurrentTaxYearMinus1YearAmt
Current Tax Year$551,980CurrentTaxYearAmt
Total$1,106,099TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$554,119CurrentTaxYearMinus1YearAmt
Current Tax Year$551,980CurrentTaxYearAmt
Total$1,106,099TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$15,675,458PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$50,731CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$41,106CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$37,148CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$62,487CurrentTaxYearMinus1YearAmt
Current Tax Year$100,770CurrentTaxYearAmt
Total$292,242TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$50,731CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$41,106CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$37,148CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$62,487CurrentTaxYearMinus1YearAmt
Current Tax Year$100,770CurrentTaxYearAmt
Total$292,242TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,760,819CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,741,516CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,987,494CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,050,829CurrentTaxYearMinus1YearAmt
Current Tax Year$4,533,141CurrentTaxYearAmt
Total$17,073,799TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.91810PublicSupportCY509Pct
Public Support PY5090.94730PublicSupportPY509Pct
Investment Income CY0.01710InvestmentIncomeCYPct
Investment Income PY0.01650InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCH. A, PART III, LINE 2FormAndLineReferenceDesc
ExplanationPROGRAM REVENUES INCLUDE RENTS RECEIVED IN SOUTH MALL TOWERS ALBANY LP.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (5 entries)

DescDescBook ValueBookValueAmt
ACCRUED MANAGEMENT FEE RECEIVABLE$29,780
MORTGAGE INTEREST RECEIVABLE$7,257,664
DEVELOPER FEE RECEIVABLE$138,357
MORTGAGE RECEIVABLE$13,205,436
INTEREST RECEIVABLE$18,151
FieldValueIRS element (for citing)
Total Book Value Other Assets$20,649,388TotalBookValueOtherAssetsAmt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
BISHOP BEAUDRY CONSTRUCTION LLC
DIRECTOR LASEK AND EXEC DIRECTOR'S HUSBAND ARE PRINCIPALS IN BB CONST$407,752CONSTRUCTION SERVICES0
EMPLOYEES 2
FAMILY MEMBERS OF EXECUTIVE DIRECTOR$115,471COMPENSATION0
REHFUSS LAW FIRM
DIRECTOR STEVE REHFUSS IS A PRINCIPAL IN THE LAW FIRM$32,354PROFESSIONAL SERVICES0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990 - ADDITIONAL INFORMATIONSOMALTOW 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: THE REVENUES AND EXPENSES PRESENTED IN RESPECTIVELY PARTS VIII AND IX OF THE FORM 990 INCLUDE SOMALTOW'S SHARE OF THE REVENUES AND EXPENSES OF 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 2OFFICER, 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 11BFORM 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 12CCONFLICT 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 19PUBLIC ACCESS TO GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS: THESE ARE AVAILABLE ON REQUEST.
PART VI, LINE 16PARTICIPATION 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.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1CAPITAL HOUSING DEVELOPMENT FUND COMPANY INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
EIN880732433EIN
Primary ActivitiesINACTIVEPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Exempt Code Section501(C)(4)ExemptCodeSectionTxt
Controlled Organization0ControlledOrganizationInd

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1SOUTH MALL TOWERS ALBANY LPBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
EIN010747926EIN
Primary ActivitiesLOW INCOME HOUSINGPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Predominant Income TypeRENTALSPredominantIncomeTypeTxt
Share Of Total Income$3,844,827ShareOfTotalIncomeAmt
Share Of EOY Assets$13,191,365ShareOfEOYAssetsAmt
Disproportionate Allocations0DisproportionateAllocationsInd
General Or Managing Partner0GeneralOrManagingPartnerInd
Ownership0.99990OwnershipPct

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1TOWERS HOUSING ALBANY INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
EIN020647484EIN
Primary ActivitiesHOLDING COMPANYPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Entity TypeCEntityTypeTxt
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsYes (1)ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (1)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (4 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
SOUTH MALL TOWERS ALBANY LP
A$477,534INCOME ACCRUED
SOUTH MALL TOWERS ALBANY LP
B$190,000CAPITAL CONTRIBUTION
SOUTH MALL TOWERS ALBANY LP
D$20,649,388AMOUNT DUE
SOUTH MALL TOWERS ALBANY LP
L$119,777INCOME ACCRUED

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