2021-05-10T07:28:31-05:00 2020-06-30 201317788 BOWERS & COMPANY CPAS PLLC 120 MADISON ST - 1700 AXA TOWER II SYRACUSE NY 13202 990 2019-07-01 460549946 NEWBURGH COMMUNITY LAND BANK C/O JENNIFER WELLES NEWB 8455697350 PO BOX 152 NEWBURGH NY 12550 LISA DAILY CHAIRPERSON/DIRECTOR 8455697350 2021-03-30 1 RICHARD FARLEY JR P01083459 3152341100 2021-03-30 2019 2022-09-23 18:48:47Z LISA DAILY 1260102 0 X NEWBURGHCOMMUNITYLANDBANK.ORG X 2012 NY ESTABLISHED FOR THE PURPOSE OF STIMULATING PLANNING, ECONOMIC DEVELOPMENT, AND NEIGHBOROOD REVITALIZATION IN THE CITY OF NEWBURGH, NEW YORK 9 9 5 10 0 0 2601906 670812 0 0 0 0 -81561 -86029 2520345 584783 0 0 0 0 264204 284146 0 0 0 1647160 491503 1911364 775649 608981 -190866 2265156 2934187 699748 1559645 1565408 1374542 X ESTABLISHED FOR THE PURPOSE OF STIMULATING PLANNING, ECONOMIC DEVELOPMENT, AND NEIGHBORHOOD REVITALIZATION IN THE CITY OF NEWBURGH, NEW YORK. 0 0 720608 -90577 2020 PROVED TO BE A MORE CHALLENGING YEAR THAN ANY OF US EXPECTED, DUE TO THE COVID 19 PANDEMIC. DESPITE SETBACKS IN CONSTRUCTION TIMELINES AND THE TEMPORARY CLOSING OF OUR OFFICE, THE NEWBURGH COMMUNITY LAND BANK MANAGED TO MAKE SIGNIFICANT PROGRESS IN OUR COMMITMENT TO DIVERSITY AND EQUITY IN AFFORDABLE HOUSING: 1) AS PART OF OUR HOUSE TO HOME AND NEIGHBORS FOR NEIGHBORHOODS PROGRAMS, WE SOLD TWO FULLY RENOVATED PROPERTIES ON LANDER AND N. MILLER STREETS TO CITY OF NEWBURGH RESIDENTS, REPRESENTING BOTH FIRST-TIME HOMEOWNERSHIP AND LOCAL LANDLORD OPPORTUNITIES. A THIRD TWO-FAMILY HOME WAS SOLD TO A LOCAL FIRST-TIME HOMEBUYER IN AUGUST, 2020; 2) AS A RESULT OF ADDITIONAL FUNDING FROM ENTERPRISE COMMUNITY PARTNERS COMMUNITY REVITALIZATION INITIATIVE, WE STARTED THE PLANNING PROCESS FOR FOUR MORE TWO-FAMILY HOMES ON LANDER AND JOHNSTON STREETS TO BE RENOVATED AND SOLD TO LOCAL HOMEOWNERS IN FALL 2021; 3)THROUGH OUR BUILDING PRESERVATION PROGRAM, WE COMPLETED KEY ABATEMENT AND STABILIZATION WORK IN SEVERAL BUILDINGS, ELIMINATING SOME OF THE OBSTACLES TO COMPLETING THESE PROJECTS; 4) WE CONTINUED OUR PARTNERSHIP WITH HABITAT FOR HUMANITY TO PROVIDE 6 MORE PROPERTIES FOR AFFORDABLE HOMEOWNERSHIP ON WILLIAM, JOHNSTON AND N. MILLER STREETS. ONE WAS SOLD TO HABITAT, WHO COMPLETED THE RENOVATION AND 5 OTHERS WERE SUCCESSFULLY STABILIZED AND ABATED; 5) WE PUBLICLY BID OUT THE PURCHASE AND REDEVELOPMENT OF A LONG ABANDONED, MIXED USE PROPERTY AT 104 WASHINGTON ST, WHICH WILL BRING UP TO 22 UNITS OF MIXED INCOME HOUSING AND 2 COMMERCIAL STOREFRONTS TO THE DOWNTOWN COMMERCIAL DISTRICT. 6) ON JULY 23, 2020, WE COMPLETED THE TRANSFER OF 20 PROPERTIES TO RUPCO, INCLUDING VACANT LOTS AND ABANDONED BUILDINGS, WHICH WILL LEVERAGE OVER $32 MILLION IN INVESTMENT FOR THE COMMUNITY AND PROVIDE 62 UNITS OF AFFORDABLE RENTAL UNITS AND A LARGE COMMUNITY SPACE IN THE NORTH OF BROADWAY NEIGHBORHOOD; 7) WE CONTINUED OUR WORK WITH CREATIVE PLACEMAKING AND LAUNCHED OUR 4TH YEAR OF ARTIST-IN-VACANCY WITH SIX DIVERSE MULTIDISCIPLINARY AND MULTIRACIAL ARTISTS AND WE ALSO PROVIDED BUILDING FACADES FOR NEWBURGH COMMUNITY PHOTO PROJECT'S UNMASKING THE TRUTH. 720608 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 NY X MADELINE FLETCHER ESQ 8455697350 PO BOX 152 NEWBURGH NY 12550 X LISA DAILY CHAIRPERSON/DIRECTOR 1.00 X X 0 0 0 ALEXANDRA CHURCH DIRECTOR 1.00 X 0 0 0 RAMONA MONTEVERDE DIRECTOR 1.00 X 0 0 0 KEVIN WHITE DIRECTOR 1.00 X 0 0 0 PAUL HALAYKO DIRECTOR 1.00 X 0 0 0 JOE SURACE DIRECTOR 1.00 X 0 0 0 JOE DONAT DIRECTOR 1.00 X 0 0 0 DAVID POTACK TREASURER/DIRECTOR 1.00 X X 0 0 0 ANDREI NILES SECRETARY/DIRECTOR 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 670812 670812 13685 9137 4548 4548 4548 575605 666182 -90577 -90577 584783 -90577 0 4548 260223 260223 3640 3640 20283 20283 31874 31874 33170 33170 30383 30383 21871 21871 11298 11298 78094 78094 IMPAIRMENT LOSS 203434 203434 OTHER OPERATING COSTS 27979 27979 PROPERTY MANAGEMENT 26393 26393 PROPERTY STABILIZATION 18116 18116 8891 8891 775649 720608 55041 0 941374 634723 1950 1261814 1113491 836386 33159 37380 221329 57445 175182 163884 2265156 2934187 320141 54030 379607 1448373 57242 699748 1559645 X 1390226 1210658 175182 163884 1565408 1374542 2265156 2934187 -190866 0 X 0 1 X 1 0 X 1872216 1833827 587128 2601906 670812 7565889 1872216 1833827 587128 2601906 670812 7565889 7565889 62773 31780 26834 31345 13685 166417 13896 12573 26469 7758775 0.97510 0.96470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1252 1252 216597 54785 161812 3480 2660 820 163884 1260102 0 1260102 -675319 -675319 584783 1450968 675319 675319 775649 0 775649 PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NET AGAINST INCOME FOR TAX PURPOSES -9,137. COST OF SALES NET AGAINST INCOME FOR TAX PURPOSES -666,182. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NET AGAINST INCOME FOR TAX PURPOSES 9,137. COST OF SALES NET AGAINST INCOME FOR TAX PURPOSES 666,182. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS CIRCULATED AND REVIEWED BY THE FINANCE COMMITTEE AND THEN BY THE FULL BOARD, BEFORE BEING DISCUSSED AND REVIEWED AT A FULL BOARD MEETING WHERE IT IS APPROVED FOR SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE BOARD MUST REVIEW AND UPDATE THE CONFLICT OF INTEREST POLICY. A CONFLICT OF INTEREST DISCLOSURE FORM IS SIGNED BY THE BOARD MEMBERS WHICH REQUIRES THEM TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST FOR REVIEW AND CONSIDERATION BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION UPON FORMAL WRITTEN REQUEST.