2025-11-14T15:22:59-06:00 2024-12-31 943108253 NOVOGRADAC & COMPANY LLP 3025 NORTH WOOSTER AVENUE DOVER OH 44622 990 2024-01-01 133023179 MBD COMMUNITY HOUSING COPORATION MBDC 7188420256 1789 SOUTHERN BLVD BRONX NY 10460 DERRICK LOVETT PRESIDENT/CEO 7188420256 2025-11-14 1 1 FRANK BUSS II P00441804 3303655400 2024 2025-03-06 01:10:19Z DERRICK LOVETT 1789 SOUTHERN BLVD BRONX NY 10460 5587982 0 X WWW.MBDHOUSING.ORG X 1975 NY DEVELOPMENT, PROPERTY MANAGEMENT, ECONOMIC, DEVELOPMENT AND DELIVERY FOR HUMAN SERVICES THROUGH CREATIVE DEVELOPMENT AND UTILIZATION OF RESOURCES BY QUALIFIED PERSONNEL. 6 6 19 0 0 0 147127 129724 4374231 4929757 600224 298939 0 60219 5121582 5418639 58773 43397 0 0 1465272 1317797 0 169343 0 855775 894788 2379820 2425325 2741762 2993314 28075979 31366698 1106985 1832586 26968994 29534112 TO IMPROVE THE QUALITY OF LIFE BY PROVIDING EXEMPLARY SERVICES TO ITS COMMUNITY THROUGH HOUSING DEVELOPMENT, PROPERTY MANAGEMENT, ECONOMIC DEVELOPMENT AND DELIVERY FOR HUMAN SERVICES THROUGH CREATIVE DEVELOPMENT AND UTILIZATION OF RESOUCES BY QUALIFIED PERSONNEL. 0 0 1567677 43397 4929757 AFFORDABLE HOUSING PROGRAM - PROVIDE LOW AND MODERATE INCOME HOUSING BY UPGRADING DETERIORATED NEIGHBORHOODS. 1567677 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 40 0 1 19 1 0 0 0 0 0 1 1 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X DERRICK LOVETT PRESIDENTCEO 7188420256 1789 SOUTHERN BLVD BRONX NY 10460 WALLACE MOBLEY TREASURER 60.00 60.00 X X 0 0 0 DERRICK LOVETT NON-VOTING MEMBER 30.00 10.00 X X 311965 0 52338 PHILLIS WILLIAMS SECRETARY 20.00 20.00 X X 0 0 0 WALLACE MOBLEY BOARD CHAIR 20.00 20.00 X X 0 0 0 LINDA SARGENT BOARD MEMBER 20.00 20.00 X 0 0 0 KENNETHE MORRISON BOARD MEMBER 40.00 40.00 X 0 0 0 RUBRIA RODRIGUEZ ADMINISTRATOR 20.00 20.00 X X 183370 0 18364 495335 0 70702 2 0 1 0 NATURES FINEST SECURITY LLC 543 NOSTRAND AVE BROOKLYN NY 11216 SECURITY SERVICES 1049454 BONANZA CONTRACTING LLC 133-33 BROOKVILLE BLVD SUITE 218 ROSEDALE NY 11422 GENERAL CONTRACTOR 910032 GERARD HOLDCO LLC 120 BROADWAY SUITE 1340 NEW YORK NY 10271 TENANT - RELOCATIONS EXPENSES 842440 STAT ARCHITECTURE PC 79 MADISON AVENUE NEW YORK NY 10016 CONSTRUCTION EXPENSES 503000 OXFORD UNITED HEALTHCARE PO BOX 29133 HOT SPRINGS AR 71903 HEALTH INSURANCE 209700 5 129724 129724 DEVELOPER FEES 531390 3069180 3069180 SELLER NOTES 531390 1390446 1390446 SOCIAL SERVICE INCOME 531390 290910 290910 OTHER INCOME 531390 179221 179221 4929757 298939 298939 229562 169343 60219 60219 5418639 4929757 0 359158 43397 43397 498459 498459 587740 587740 320644 320644 80297 80297 17500 17500 334485 334485 7204 7204 54176 54176 30689 30689 46951 46951 16500 16500 11052 11052 23558 23558 45506 45506 64516 64516 OTHER EXPENSES 150381 150381 PAYROLL SUSPENSE FEES 56846 56846 MAINTENANCE AND REPAIRS 35424 35424 2425325 1567677 857648 0 5918209 943626 306 1038546 12066351 14770096 1210711 1210711 1247218 954002 313776 293216 505000 505000 8061626 12605503 28075979 31366698 31500 26250 243931 103814 831554 1702522 1106985 1832586 X 26968994 29534112 26968994 29534112 28075979 31366698 X 2993314 -428196 X 0 1 X 1 0 X 103671 96223 39881 147127 129724 516626 103671 96223 39881 147127 129724 516626 516626 1079278 126500 149448 18260 45974 1419460 141 523 1506 67425 179221 248816 2184902 0.23650 0.25640 X SCHEDULE A, PART II, LINE 10, EXPLANATION FOR OTHER INCOME: OTHER 2019 AMOUNT: $ 0 2020 AMOUNT: $ 141 2021 AMOUNT: $ 523 2022 AMOUNT: $ 1,506 2023 AMOUNT: $ 67,425 2024 AMOUNT: $ 179,221 THE CORPORATION EXISTS FOR A PUBLIC BENEFIT: THE CORPORATION'S PRIMARY ACTIVITIES DIRECTLY SERVE THE GENERAL PUBLIC, AND PROVIDES ACCESS TO AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS OF THE BRONX. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9200 9200 620721 380703 240018 528843 499760 29083 88454 73539 14915 293216 DUE FROM AFFILIATES 8277379 PREDEVELOPMENT ADVANCES 4238712 PREPAID INSURANCE 58060 PREPAID EXPENSES 31352 12605503 ACCOUNTS PAYABLE 354094 ACCRUED EXPENSES 1348428 1702522 X PART X, LINE 2: MBDCHC IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AS IS CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. CURRENTLY, MBDCHC HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. DUE TO ITS TAX-EXEMPT STATUS, MBDCHC IS NOT SUBJECT TO INCOME TAX. MBDCHC IS REQUIRED TO FILE, AND DO FILE, TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. GALA FUNDRAISING 229562 229562 169343 229562 229562 169343 169343 60219 0 GOODWILL BAPTIST CHURCH 642-44 CROTONA PARK SOUTH BRONX NY 10460 000000000 5565 0 TO AID IN LOWER-INCOME HOUSING THE BRONX CHAMBER OF COMMERCE 1200 WATERS PLACE SUITE 106 BRONX NY 10461 000000000 6000 0 TO AID IN LOWER-INCOME HOUSING 0 0 0 0 0 0 0 0 0 DERRICK LOVETT NON-VOTING MEMBER 311965 0 0 0 0 0 0 0 52338 0 364303 0 0 0 RUBRIA RODRIGUEZ ADMINISTRATOR 183370 0 0 0 0 0 0 0 18364 0 201734 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B MBD COMMUNITY HOUSING 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. THE AUDITED FINANCIALS AND FORM 990 ARE DISTRIBUTED DURING A BOARD MEETING FOR EACH BOARD MEMBER TO REVIEW AND COMMENT UPON. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED, AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EASH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT PERIODICALLY INQUIRES OF ALL EMPLOYEES IF ANY CONFLICTS OF INTEREST EXIST RELATED TO MBD. THIS INQUIRY INCLUDES DESCRIBING ANY POSSIBLE CONFLICT SITUATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST FORM 990, PART XI, LINE 9: ADJUSTMENT TO OTHER ASSETS AS A RESULT OF AUDIT CHANGES -428,196. 1490 CROTONA PARK EAST HOUSING DEVELOPMENT FUND COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 463754811 REAL ESTATE NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 BRYANT MEWS HOUSING DEVELOPMENT FUND COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 112866753 REAL ESTATE (INACTIVE) NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 DON LW HOUSING DEVELOPMENT FUND COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 474956216 REAL ESTATE NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 HERBERT L BROOKS HOUSING DEVELOPMENT FUND COMPANY 1762 BOSTON ROAD BRONX NY 10460 133595749 REAL ESTATE NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 LYMAN PLACE PRIDE HOUSING DEVELOPMENT FUND COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 REAL ESTATE NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 MBD HOUSING 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BOSTON ROAD BRONX NY 10460 REAL ESTATE NY 501(C)(3) LINE 11 MBD COMMUNITY HOUSING CORPORATION 1 1490 CROTONA PARK EAST LP 1762 BOSTON RD BRONX NY 10460 112734505 REAL ESTATE (INACTIVE) NY N/A N/A 1 0 DON LW LLC 1789 SOUTHERN BOULEVARD BRONX NY 10460 364819562 REAL ESTATE NY N/A N/A 1 0 EJM HOUSING LP 1762 BOSTON RD BRONX NY 10460 133718269 REAL ESTATE NY N/A N/A 1 0 HLB REDEVELOPMENT ASSOCIATES LP 1762 BOSTON RD BRONX NY 10460 133558171 REAL ESTATE (INACTIVE) NY N/A N/A 1 0 MBDW E MOBLEY LLC 1762 BOSTON RD BRONX NY 10460 471881748 REAL ESTATE NY N/A N/A 1 0 MBD SILVA TAYLOR MANAGERS LLC 1762 BOSTON RD BRONX NY 10460 455056075 REAL ESTATE NY N/A N/A 1 0 MID BRONX PLAZA LP 1762 BOSTON RD BRONX NY 10460 264005442 REAL ESTATE NY N/A N/A 1 0 NICKERSON TERRACE REDEVELOPMENT ASSOCIATES 1762 BOSTON RD BRONX NY 10460 133663300 REAL ESTATE (INACTIVE) NY N/A N/A 1 0 ROSE ELLEN SMITH MBD LP 1762 BOSTON RD BRONX NY 10460 472018823 REAL ESTATE NY N/A N/A 1 0 WILLIAMS COURT REDEVELOPMENT 1762 BOSTON RD BRONX NY 10460 133615088 REAL ESTATE (INACTIVE) NY N/A N/A 1 0 1490 CROTONA PARK EAST 1762 BOSTON ROAD BRONX NY 10460 463301461 REAL ESTATE NY N/A C 1 EJM HOUSING INC 1762 BOSTON ROAD BRONX NY 10460 133717021 REAL ESTATE NY N/A C 1 HLB CORPORATION 1762 BOSTON ROAD BRONX NY 10460 133531084 REAL ESTATE NY N/A C 1 LYMAN PLACE PRIDE PLAZA HOUSING DEVELOPMENT FUND COMPANY 1762 BOSTON ROAD BRONX NY 10460 133600101 REAL ESTATE NY N/A C 1 MBD MAINTENANCE COMPANY 1762 BOSTON ROAD BRONX NY 10460 134098888 REAL ESTATE NY N/A C 1 MBD MANAGEMENT COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 133101135 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 1 MBD QUALITY MANAGEMENT COMPANY INC 1762 BOSTON ROAD BRONX NY 10460 133740338 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 1 MBD SILVA TAYLOR GP INC 1762 BOSTON ROAD BRONX NY 10460 455056168 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 0 MCH CORP 1762 BOSTON ROAD BRONX NY 10460 133468740 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 0 MID-BRONX PLAZA INC 1762 BOSTON ROAD BRONX NY 10460 264005398 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 0 NDR CORPORATION 1762 BOSTON ROAD BRONX NY 10460 133646500 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 1 RES MBD INC 1762 BOSTON ROAD BRONX NY 10460 472029685 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 1 MBD NEW HEIGHTS APTS MM LLC 1789 SOUTHERN BOULEVARD BRONX NY 10460 851386507 NY MBD COMMUNITY HOUSING CORPORATION C 1.00000 0 0 0 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 PART III, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS PARTNERSHIP: NAME, ADDRESS, AND EIN OF RELATED ORGANIZATION: NICKERSON TERRACE REDEVELOPMENT ASSOCIATES, LP EIN: 13-3663300 1762 BOSTON ROAD BRONX, NY 10460 PART IV, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS CORP OR NAME OF RELATED ORGANIZATION: MBD SILVA TAYLOR GP, INC DIRECT CONTROLLING ENTITY: MBD SILVA TAYLOR HOUSING DEVELOPMENT FUND COMPANY PART IV, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS CORP REGULATION REFERENCE: SECTION 168(H)(6)(F)(II) ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX-EXEMPT ENTITY MBD NEW HEIGHTS APTS MM, LLC (85-1386507), HEREBY ELECTS UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX-EXEMPT ENTITY FOR PURPOSES OF APPLYING THE RULES FOUND IN I.R.C. SECTION 168(H)(6). THE ELECTION IS AVAILABLE TO BE MADE BY AN ENTITY THAT IS NOT TAX-EXEMPT, BUT WHICH IS CONTROLLED BY 50% OR MORE BY A TAX-EXEMPT ENTITY. MBD NEW HEIGHTS APTS MM, LLC QUALIFIES TO MAKE SUCH ELECTION, AS IT IS OWNED 100% BY MBD COMMUNITY HOUSING CORP. (A TAX-EXEMPT ENTITY). THE PURPOSE OF THIS ELECTION IS TO TREAT THE ENTITIES ALLOCABLE SHARE OF DEPRECIABLE PROPERTY OWNED BY MBD NEW HEIGHTS APTS, LLC (EIN: 85-1330329) AS A PROPERTY WHICH IS NOT TAX-EXEMPT USE PROPERTY.