2019-11-14T06:39:18-00:00 2018-12-31 Yeboa & Lawrence CPAs LLP 629 Fifth Avenue Pelham NY 10803 990 2018-01-01 112600290 ALLEN AME HOUSING CORPORATION ALLE 7186571803 110-42 MERRICK BOULEVARD JAMAICA NY 11433 Kevin Howard Director of Finance 2019-11-14 false Pauline Tate 9147120312 2019-11-14 24.184.141.165 2019-11-14 18:04:20 ES P 20EA661295689D0C60E1F2BFE927F58DC1553D0C 20EA661295689D0C60E1F2BFE927F58DC1553D0C 2018 2020-03-31 21:24:44Z Floyd Flake 110-31 Merrick Blvd Jamaica NY 11433 1060360 false X X 1992 NY The corporation provides affordable housing to the underserved, economically challanged individuals of the South Jamaica Community of Queens, New York. The organization also works with local development projects on an administrative level to acquire funds used to augment the housing provision. 6 6 5 0 0 1077970 1060360 0 0 1077970 1060360 0 0 452056 438072 0 0 835630 818068 1287686 1256140 -209716 -195780 7988634 8638730 3081978 3926254 4906656 4712476 The organization provides affordable housing to economically challenged residence of South Queens, New York. Since the residential rental incomes are below market values, the organization uses the commercial space of the said buildings to generate rental income to supplement the low income housing. false false 1147005 1147005 The Corporation provides affordable housing to eligible applicants residing in the South Queens Neighborhood. Some Commercial spaces are rented to businesses to subsidize the below market rents charged to residence. 1147005 true false false false false false false false false false true false false true true false false true false false false false false false false false false false false true false false false false false false false false false false false false false false false false true false false false true 0 0 false 5 true false false false false false false false false false false false false X 6 6 true false false false true false false true true false true true true true true true true false true true false NY X Kevin Howard 7186571803 110-42 Merrick Blvd Jamaica NY 11433 Floyd Flake President 030.00 030.00 X X X X 150000 248681 0 Kevin Howard Director of Finance 040.00 040.00 X X X 0 0 0 Harold Flake Director of Operations 040.00 040.00 X X X 0 0 0 Evette C Ennis Esq Secretary 003.00 003.00 X X 0 0 0 Richard McEachern Board Treasurer 003.00 003.00 X X 0 0 0 Gena L Bolden-Rivera Board Member 002.00 002.00 X 0 0 0 Nadine Morency-Mohs Board Member 002.00 002.00 X 0 0 0 June P Andrews-Henderson Board Member 002.00 002.00 X 0 0 0 150000 248681 1 false true false Rental Income 531110 1008277 1008277 Other income 531110 6472 6472 Management fee 531110 30156 30156 Interest Income 531110 15455 15455 1060360 1060360 1060360 0 0 0 0 0 0 389448 311559 77889 0 20861 16689 4172 27763 22211 5552 0 0 0 0 18965 18965 0 0 15650 12520 3130 0 0 44472 35578 8894 0 0 0 112159 112159 0 217457 217457 0 Water and Sewer, waste and garbage disposal 19710 19710 Real estate taxes and insurance 238394 238394 Repair and maintenance and utilities 63287 63287 Professional and consulting fees 53313 43815 9498 34661 34661 1256140 1147005 109135 0 106160 407193 178599 176238 305828 283730 8449339 3876400 4717373 4572939 2680674 3198630 7988634 8638730 231875 286481 5450 5450 2519798 3333013 224456 222659 100399 78651 3081978 3926254 X 4906656 4712476 4906656 4712476 7988634 8638730 X -195780 1600 X false true X true false X 0 0.00000 90000 1219847 1309847 1097475 1047649 1037311 1077970 1060360 5320765 254985 254985 1187475 2267496 1292296 1077970 1060360 6885597 6885597 15495 15546 15565 46606 0 15495 15546 15565 46606 0 0 1202970 2283042 1307861 1077970 1060360 6932203 0.99330 0.99130 0.00670 0.00870 X false 619884 619884 7550990 3635584 3915406 62611 24962 37649 215854 215854 4572939 Financial derivatives and other financial products Closely-held equity interests Security and utility deposits 13726 Developers fees receivable 225453 Interest Receivable on loan 101271 Tenant security deposits 27895 Escrow deposit 10683 Due from affiliate 1820942 Other receivable 103998 Investment in Jazzy Wings 639105 Interest rate swap Deferred costs, net 255557 3198630 Federal income taxes Security deposits-Tenants 67054 Due to others 11597 78651 1060360 1060360 1060360 1256140 1256140 1256140 X X false false false false false false false false false Floyd Flake President 150000 248681 150000 248681 Form 990, Part VI, Section B, Line 11a The form 990 is made available by the Director of Finance to all Board Members for their review. Members can review the form via email or they can request that a copy be mail to them. Upon approval of the form, consent is given to the tax preparer to transmit the form and all accompanying schedules electronically to the Internal Revenue Service. Form 990, Part VI, Section B, Line 12c In order to identify conflict of interest, if any, in a timely manner, each Director and Officer of the organization is asked to sign an annual disclosure form, stating that they are not aware of any current or potential conflict of interest that might affect their duty to perform their function within the corporation. Signed disclosures are reviewed and monitored by a board of director representative annually. Board members are expected to communicate any potential conflect of interest on an on-going basis. All board mambers services are voluntary. Form 990, Part VI, Section B, Line 15a 15b Compensation of the CEO/President and key employees is based on related industry comparable data. The President of the organization reviews and approves the compensation of key employees, while the board of directors review and approve the salary increases of the president. Form 990, Part VI, Section C, Line 19 All governing documents and financial statements are made available to the public upon request, either by fax, email or regular mailing. Form 990, Part XI, Line 9 The organization holds a 50 membership in the limited liability company of the Greater Allen A.M.E. Development, LLC. the LLC To secure the best interest rate on the mortgage of the LLC, the company entered into an interest rate swap with the mortagor, to effectively fix a portion of the floating interest rate on the outstanding principal amount of the mortgage. The swap is recorded at fair value each year, with the changes affecting the net assets account. The financial statements of the two entities are reported on a consolidted basis. The current years swap amount affecting net assets of fund balance is 11,951. The corporation also has an investment interest in a member corporation. A change in the value of the investment contributed to a decrease of 107,754 in the net assets of the corporation. Greater Allen AME Development LLC 110-42 Merrick Blvd Jamaica NY 11433 711049304 Member Interest NY Allen AME Housing Corporation Related false true 0.50000 Greater Allen AME Development LLC k Greater Allen AME Development LLC l Allen Afforable Housing Dev Corp q Forward Progress Corporation q Suthphin Veterans LP q Suthphin Veterans LP s Others p