2021-11-15T19:30:31-06:00 2020-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2020-01-01 020663534 CABRINI HOUSING DEVELOPMENT FUND CORPORATION CABR 2126736262 220 EAST 19TH STREET NEW YORK NY 10003 DAVID ARDITTI ASSISTANT TREASURER 2123586265 2021-11-15 1 DAVID ARDITTI XXX-XX-XXXX GARRETT M HIGGINS P00543209 9143818900 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PATRICIA KRASNAUSKY 220 EAST 19TH STREET NEW YORK NY 10003 808998 0 0928 X WWW.CABRINI-ELDERCARE.ORG X 2002 NY CABRINI HOUSING DEVELOPMENT FUND CORPORATION (HDFC) BEGAN ITS OPERATIONS IN OCTOBER 2005 TO PROVIDE AFFORDABLE HOUSING TO THE VERY LOW INCOME AND HANDICAPPED, ELDERLY POPULATION. THE GOAL: TO MAXIMIZE RESIDENTS ABILITY TO MAINTAIN THEIR INDEPENDENCE WHILE "AGING IN PLACE." THE RESIDENCE PROVIDES SECURITY, COMMUNITY, AND CONTINUITY, IMPORTANT HOUSING FEATURES FOR AGING RESIDENTS THAT OTHER HOUSING ASSISTANCE PROGRAMS MAY NOT PROVIDE. CONSISTING OF 70 ONE BEDROOM APARTMENTS, CABRINI HDFC HOUSED 84 RESIDENTS IN 2020, OF WHICH 64 OF THE HOUSEHOLD UNITS ARE CATEGORIZED AS EXTREMELY LOW INCOME (LESS THAN $23,900). VERY LOW INCOME IN THE NYC REGION IS DEFINED AS A HOUSEHOLD WITH AN INCOME OF LESS THAN $39,800 FOR A ONE PERSON HOUSEHOLD AND $45,500 FOR A TWO PERSON HOUSEHOLD. 8 7 0 11 0 0 0 0 788285 805283 1571 673 29433 3042 819289 808998 0 0 0 0 0 0 0 0 0 1037999 1055586 1037999 1055586 -218710 -246588 12408071 12104539 12226381 12169437 181690 -64898 X IT IS THE MISSION OF CABRINI APARTMENTS TO EXTEND THE INDEPENDENCE AND INCREASE THE QUALITY OF LIFE OF LOW INCOME AND MOBILITY IMPAIRED SENIOR CITIZENS THROUGH THE PROVISION OF SAFE, AFFORDABLE HOUSING IN CONJUNCTION WITH SOCIAL ACTIVITIES AND LINKING SUPPORT SERVICES. THESE SERVICES WILL BE PROVIDED INCORPORATING THE CORE VALUES OF CABRINI: COMPASSION. RESPECT. DIGNITY. EXCELLENCE. 0 0 966889 805283 SEE SCHEDULE OCABRINI APARTMENTS IS A HUD 202 SUBSIDIZED INDEPENDENT SENIOR HOUSING FACILITY, LOCATED IN THE GRAMERCY PARK SECTION OF MANHATTAN. THE PROJECT IS SPONSORED BY CABRINI OF WESTCHESTER, A MINISTRY OF THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS. ENVISIONED IN 2000 AND OPENED IN 2005 ITS MISSION IS TO SERVE THOSE INDIVIDUALS WHOSE VERY LIMITED INCOME HAS COMPROMISED THEIR ABILITY TO FIND SAFE, ACCESSIBLE, AND AFFORDABLE HOUSING, AND TO DO SO IN A DIGNIFIED AND SUPPORTIVE ENVIRONMENT.CABRINI APARTMENTS IS COMPRISED OF 70 ONE-BEDROOM APARTMENTS AND 1 TWO BEDROOM APARTMENT FOR A LIVE-IN SUPERINTENDENT. SIX APARTMENTS ARE DESIGNED PARTICULARLY FOR THOSE WITH PHYSICAL DISABILITIES. A LARGE COMMUNITY ROOM AND KITCHEN, A LIBRARY/CONFERENCE ROOM, LAUNDRY ROOM AND GAME ROOM ARE AN INTEGRAL PART OF THE COMMUNITY. A LARGE FURNISHED AND LANDSCAPED COURTYARD AND A DECK ON THE TOP FLOOR ADD TO THE AMENITIES AVAILABLE TO ALL. OFFICE SPACE FOR STAFF OCCUPIES ONE HALL OFF A GRACIOUS LOBBY WHERE A RECEPTION AREA IS STAFFED FOR SECURITY PURPOSES. A FULL TIME MANAGER OVERSEES THE CABRINI APARTMENTS AND A TENANT COORDINATOR IS EMPLOYED WHOSE RESPONSIBILITY IS TO IDENTIFY NEEDS OF THE TENANTS, LINK SERVICES, ADVOCATE WITH THIRD PARTIES, COMPLETE MUNICIPAL APPLICATIONS FOR BENEFITS, AND COORDINATE EDUCATIONAL AND INFORMATION LECTURES RELATED TO AGING ISSUES AND OTHER SOCIAL ACTIVITIES. ALL EXPENSES OF CABRINI APARTMENTS ARE DIRECTLY RELATED TO PROVIDING SERVICES TO ACHIEVE THE GOALS OF CABRINI HDFCS MISSION. 966889 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DAVID ARDITTI 9146936800 115 BROADWAY DOBBS FERRY NY 10522 PATRICIA KRASNAUSKY PRESIDENT 0.10 37.40 X X 0 253687 29183 JAMES MIGLIORE CHAIRMAN 0.10 0.50 X X 0 0 0 SR CATHERINE GARRY VICE CHAIR 0.10 0.40 X X 0 0 0 JAMES LEE ESQ TREASURER 0.10 X X 0 0 0 SR ARLENE VAN DUSEN MSC SECRETARY 0.10 0.40 X X 0 0 0 DONALD AMORUSO DIRECTOR 0.10 0.60 X 0 0 0 SR BERNADETTE CASCIANO MSC DIRECTOR 0.10 X 0 0 0 ROBERT DAVIS KENNEDY MD DIRECTOR 0.10 X 0 0 0 DAVID ARDITTI ASSISTANT TREASURER 0.10 37.40 X 0 227493 61782 JUDY FUTTERMAN ASSISTANT SECRETARY 0.10 37.40 X 0 49526 11448 0 530706 102413 0 0 1 0 SECURITAS SECURITY SERVICES USA PO BOX 403412 ATLANTA GA 303843412 SECURITY 155300 1 RENTAL INCOME 531110 805283 805283 805283 673 673 MISCELLANEOUS 900099 1866 1866 LAUNDRY AND VENDING MA 900099 1176 1176 3042 808998 805283 0 3715 X 60000 60000 15750 15750 350714 350714 24704 15479 9225 226416 226416 205 205 290527 290527 30379 30379 CONTRACTS 38241 38241 REPAIRS AND MAINTENANCE 12813 12813 MISCELLANEOUS 5360 2320 3040 BAD DEBT EXPENSE 477 477 1055586 966889 88697 0 9248 5232 466 997 474 9292 6660 6230 15831042 4210489 11880438 11620553 510785 462235 12408071 12104539 121970 108533 25 1321 19307 19158 11996200 11996200 88879 44225 12226381 12169437 X 181690 -64898 181690 -64898 12408071 12104539 -246588 0 X X 0 1 X 0 0 X 688967 695177 752866 788285 805283 3730578 688967 695177 752866 788285 805283 3730578 0 0 0 3730578 1362 1494 1576 1571 673 6676 1362 1494 1576 1571 673 6676 3924 2358 12515 29433 3042 51272 694253 699029 766957 819289 808998 3788526 0.98470 0.98420 0.00180 0.00200 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING MACHINES - 2016 AMOUNT: $ 2,524. 2017 AMOUNT: $ 2,231. 2018 AMOUNT: $ 1,943. 2019 AMOUNT: $ 2,289. 2020 AMOUNT: $ 1,176. MISCELLANEOUS - 2016 AMOUNT: $ 1,400. 2017 AMOUNT: $ 127. 2018 AMOUNT: $ 10,572. 2019 AMOUNT: $ 27,144. 2020 AMOUNT: $ 1,866. 0 1 X 5000000 5000000 10470185 3955395 6514790 25759 21346 4413 335098 233748 101350 11620553 DUE TO RELATED PARTY 44225 44225 X 808998 0 808998 0 808998 1055586 0 1055586 0 1055586 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT. PART X, LINE 2: THE ENTITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENTITY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2017. 0 0 0 0 0 0 0 0 0 DAVID ARDITTI ASSISTANT TREASURER 0 227493 0 0 0 0 0 12057 0 49725 0 289275 0 0 PATRICIA KRASNAUSKY PRESIDENT 0 253687 0 0 0 0 0 13097 0 16086 0 282870 0 0 PART I, LINE 3 COMPENSATION PAID TO THE PRESIDENT IS DETERMINED BY A RELATED ENTITY, CABRINI OF WESTCHESTER, USING THE FOLLOWING PROCESS: IN 2017 CABRINI OF WESTCHESTER JOINED WITH 20 LONG-TERM CARE, CORPORATE ENTITIES TO PARTICIPATE IN AN EXECUTIVE COMPENSATION AND BENEFITS SURVEY CONDUCTED BY SULLIVAN, COTTER AND ASSOCIATES. ALL PARTICIPANTS ARE NOT-FOR-PROFIT AND ALL ARE MEMBERS OF THE CONTINUING CARE LEADERSHIP COALITION. (CCLC), THE LONG TERM CARE ARM OF GREATER NEW YORK HOSPITAL ASSOCIATION (GNYHA). DATA GATHERED EFFECTIVE FOR JULY 2017. THE REPORT OF THE SURVEY WAS RECEIVED IN DECEMBER 2017 AND SHARED WITH THE TRUSTEES OF THE CABRINI OF WESTCHESTER (CW). THE PURPOSE FOR PROVIDING THE SULLIVAN COTTER REPORT AND THE CURRENT SALARIES OF EXECUTIVE STAFF OF CW WAS TO PROVIDE THE TRUSTEES WITH A COMPARISON OF SALARIES FOR THE PRESIDENT, CFO, AND COO/ADMINISTRATOR POSITIONS IN ORGANIZATIONS SIMILAR TO CABRINI OF WESTCHESTER SO THAT THE BOARD COULD PERFORM ITS DUTY TO ANNUALLY REVIEW AND APPROVE THE SALARIES OF THE PRESIDENT AND CFO. OTHER SALARIES WERE PROVIDED FOR INFORMATION ONLY. THE PRESIDENT'S COMPENSATION WAS SLIGHTLY ABOVE THE 25TH PERCENTILE, AND WELL BELOW THE MEAN. THE CFO SALARY WAS CLOSER TO THE 25TH PERCENTILE THAN THE 75TH PERCENTILE (NO 50TH PERCENTILE WAS PROVIDED) AND WAS BELOW THE MEAN BASE SALARY. IN ADDITION, ANY INCREASE FOR THESE POSITIONS, IF GIVEN, ARE LIMITED TO THE SAME PERCENT INCREASE GRANTED TO ALL NON-UNION STAFF AND MUST BE APPROVED BY THE BOARD OF DIRECTORS. SUCH APPROVAL IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 3 CABRINI HDFC PURCHASES MANAGEMENT SERVICES FROM CABRINI OF WESTCHESTER. THESE SERVICES INCLUDE ADMINISTRATIVE AND FINANCE SERVICES. THE FOLLOWING OFFICERS WERE PAID BY CABRINI OF WESTCHESTER: PATRICIA KRASNAUSKY, DAVID ARDITTI AND SUSAN STRANGIO. IN 2020, CABRINI HDFC INCURRED $60,000 IN FEES FOR THESE SERVICES. THEIR COMPENSATION IS REPORTED IN PART VII, SECTION A AND SCHEDULE J, PART II. FORM 990, PART VI, SECTION B, LINE 11B CABRINI HOUSING DEVELOPMENT FUND CORPORATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS APPLICABLE TO DIRECTORS, OFFICERS, AND TO ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE ORGANIZATION. ANNUALLY, EACH DIRECTOR, OFFICER, AND MANAGEMENT EMPLOYEE HAS TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH WILL INFORM THE ORGANIZATION OF ANY POTENTIAL OR ACTUAL CONFLICTS A PERSON MAY HAVE. IF ANYTHING SHOULD CHANGE AFTER SIGNING THE POLICY, THE PERSON IS REQUIRED TO NOTIFY THE PRESIDENT OR BOARD CHAIR REGARDING THE CONFLICT. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE CHIEF EXECUTIVE OFFICER (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR, (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD VICE-CHAIR) WHO SHALL BRING THESE MATTERS TO THE BOARD. THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO CABRINI HDFC. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF CABRINI HDFC AND THE ADVANCEMENT OF ITS PURPOSE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, FORM 990, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G MANAGER/SUPERINTENDENT SERVICES: PROGRAM SERVICE EXPENSES 194,870. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 194,870. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 155,844. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 155,844. FORM 990, PART XII, LINE 2C: THE FULL BOARD OF THE ORGANIZATION ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. CABRINI OF WESTCHESTER 115 BROADWAY DOBBS FERRY NY 10522 237063399 SKILLED NURSING FACILITY NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0