2017-11-06T09:30:19-06:00 2016-12-31 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2016-01-01 133608906 PROMESA HOUSING DEVELOPMENT FUND CORPORATION INC % MILTON DERIENZO PROM 7182991100 311 EAST 175TH STREET BRONX NY 10457 MILTON DERIENZO CFO 7182991100 2017-10-25 true Joseph Perez P00961850 7328281614 50.226.125.50 22006220173105000007 2017-11-06 P 8E2F1EFD5883205B7B890A4BD3DDB6861353DB1A B5EC99DA3CA23464DC1378F58DE7BE1E03831153 2016 2018-03-14 21:41:22Z RAUL RUSSI 311 EAST 175TH STREET BRONX NY 10457 9469742 false X WWW.ACACIANETWORK.ORG X 1990 NY TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY. 4 4 0 4 0 0 0 5583901 9424555 28 19 0 45168 5583929 9469742 0 0 0 0 0 0 0 0 0 6084574 8486807 6084574 8486807 -500645 982935 17098806 20801751 16581534 19301544 517272 1500207 TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY. false false 7390954 9469723 THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK 7390954 true false false true false false false false false false true true false true true true 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 true false false false true 0 0 true 0 false false false false false false false false false false X 4 4 false false false false false false false true true false false true true true true true true true true false NY X X MILTON DERIENZO 7182991100 311 EAST 175TH STREET BRONX NY 10457 Pedro Falcon Secretary 1.0 0.0 X X 0 0 0 Carlos Laboy-Diaz ACTING CHAIR 1.0 0.0 X X 0 0 0 Eliezer Rodrigeuz Treasurer 1.0 0.0 X X 0 0 0 Ingle Stephens member 1.0 0.0 X 0 0 0 TOMAS DEL RIO CFO 1.0 34.0 X 5113 301550 36808 PAMELA MATTEL COO 1.0 34.0 X 5799 336783 60500 RAUL RUSSI CEO 1.0 34.0 X 9850 584705 22425 Hector L Diaz President 1.0 34.0 X 4038 236941 11124 Milton DeRienzo CFO 1.0 34.0 X 2220 130648 0 Ralph Declet VICE PRESIDENT 31.0 4.0 X 219862 31409 35308 ADRIENE ROSELL ADMINISTRATOR 0.0 35.0 X 0 226236 36448 DAVID COLLYMORE CHIEF MEDICAL OFFICER 0.0 35.0 X 0 231566 13390 DAVID GLASEL VICE PRESIDENT, COMPLIANCE 1.0 34.0 X 7257 426874 19251 DRSAROJ BAKSHI MEDICAL DIRECTOR 0.0 35.0 X 0 217556 21534 254139 2724268 256788 1 false true false TYLER'S DIMES LLC 1763 PITMAN AVE BRONX NY 10466 Rent 1782036 NBX ACQUISITION LLC 50 RIVERSIDE BLVD NEW YORK NY 10069 Rent 1056918 MY NYC LLC 350 5TH AVENUE SUITE 5320 NEW YORK NY 10118 Rent 611371 LAXMI MANAGEMENT LLC 39-40 30TH STREET LONG ISLAND NY 11101 MANAGEMENT 1875000 DISTINCTIVE AFFORDABLE HOUSING SOLU 800 WESTCHESTER AVE SUITE 641N RYE BROOK NY 10573 CONSULTING 251851 10 X 0 RENTAL INCOME 532000 2265369 2265369 COMMERCIAL RENT 532000 5345300 5345300 OTHER 532000 245902 245902 CONSULTING FEES 532000 1287139 1287139 ENFORCEMENT MORTGAGE FORGIVENESS 900099 280845 280845 9424555 19 19 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INVESTMENT INCOME 900099 4690 4690 RECOVERY OF BAD DEBT 900099 40478 40478 45168 9469742 9469723 19 0 0 0 0 0 0 0 0 0 0 0 0 0 90005 90005 31226 31226 2271 2271 0 0 475047 0 475047 0 0 497304 497304 0 0 6030042 6030042 0 0 0 54164 54164 0 301209 301209 107806 107806 CONTRACTUAL EXPENSES 897733 897733 0 0 8486807 7390954 1095853 0 X 451765 593289 0 0 0 0 123566 140147 0 0 0 0 0 0 0 0 117409 104107 11568402 5356728 6431130 6211674 0 0 0 2009562 0 0 57842 55776 9917094 11687196 17098806 20801751 1392975 1552950 0 0 19435 18945 0 0 0 0 0 0 5592938 5477547 0 0 9576186 12252102 16581534 19301544 X 517272 1500207 0 0 0 0 517272 1500207 17098806 20801751 982935 X false true X true false X 0 0 813905 0 0 813905 2938385 5059425 3636415 5583901 9424555 26642681 0 0 0 2938385 5059425 4450320 5583901 9424555 27456586 813905 813905 0 813905 813905 26642681 635 899 394 28 19 1975 0 635 899 394 28 19 1975 0 2807 45168 47975 2941827 5060324 4450714 5583929 9469742 27506536 0.96859 0.96021 0.00007 0.00013 X false false false false false false false false true 2271 2271 false false PART II-B, LINE1 (I), OTHER LOBBYING ACTIVITIES PROMESA CONTRACTS WITH VARIOUS THIRD PARTY LOBBYING CONSULTANTS TO DEVELOP AND IMPLEMENT A COMPREHENSIVE STRATEGY ON ISSUES RELATED TO PROMESA AND OBTAIN SUPPORT FOR SUCH ISSUES FROM KEY STATE LEGISLATORS. 7 7 11410482 5200327 6210155 0 0 0 0 0 157913 156401 1512 6211674 INVESTMENT IN JOINT VENTURE 2009562 F 2009562 TENANT SECURITY DEPOSITS 81402 UTILITY DEPOSIT 2065 DUE FROM AFFILIATES 10007807 OTHER ASSETS - CIP AFFILIATE 1595922 11687196 0 RENT SECURITY PAYABLE 81405 DUE TO HPD 100373 DUE TO AFFILIATES 12070324 12252102 X FORM 990, SCHEDULE D, PART X, LINE 2 PHDFC is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and New York taxation codes. Accordingly, no provision for income taxes has been reflected in the accompanying consolidated financial statements. PHDFC follows generally accepted accounting principles related to uncertain tax positions which require tax effects from an uncertain tax position to be recognized in the consolidated financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50 percent likely to be recognized upon ultimate settlement with the taxing authority is recorded. PHDFC's primary tax positions relate to its status as a not-for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. Management has evaluated the tax positions reflected in PHDFC's tax filings and does not believe that any material uncertain tax positions exist. PHDFC did not record any tax related interest or penalties during the years in question. PHDFC files form 990 in the U.S. federal jurisdiction and CHAR 500 in the State of New York. X X X false false false false false false false true false TOMAS DEL RIO CFO 4970 293129 0 0 143 8421 221 13029 393 23165 5727 337744 PAMELA MATTEL COO 4911 285216 750 43537 138 8030 336 19539 688 39937 6823 396259 Ralph Declet VICE PRESIDENT 194173 27739 19688 2813 6001 857 10281 1469 20613 2945 250756 35823 RAUL RUSSI CEO 8451 501619 1188 70542 211 12544 329 19546 42 2508 10221 606759 ADRIENE ROSELL ADMINISTRATOR 0 225806 0 0 0 430 0 10884 0 25564 0 262684 Hector L Diaz President 3472 203752 498 29216 68 3973 186 10938 0 0 4224 247879 DAVID COLLYMORE CHIEF MEDICAL OFFICER 0 231379 0 0 0 187 0 13390 0 0 0 244956 DAVID GLASEL VICE PRESIDENT, COMPLIANCE 6599 388144 593 34897 65 3833 143 8400 179 10529 7579 445803 DRSAROJ BAKSHI MEDICAL DIRECTOR 0 208206 0 5000 0 4350 0 10769 0 10765 0 239090 schedule j, part i, line 7 bonuses were provided to some officers and key employees. these bonus percentages are approved by the board of directors as part of the overall compensation package on an annual basis. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DISTRIBUTES THE 990 AT THE BOARD OF DIRECTORS MEETING. THE BOARD VOTES TO APPROVE THE 990. FORM 990, PART VI, SECTION B, LINE 12C Annual signed statements are provided that affirms that the interested parties are in compliance with the conflict of interest policy. FORM 990, PART VI, SECTION C, LINE 19 The governing documents, conflict of interest policy and financial statements are available to the public upon request. FORM 990, PART VI, SECTION B, LINE 15A & 15B THE ORGANIZATION PERIODICALLY ENGAGES AN INDEPENDENT AND QUALIFIED COMPENSATION CONSULTANT TO COMPILE AND ANALYZE DETAILED DATA ABOUT THE TYPES AND LEVELS OF COMPENSATION PACKAGES PROVIDED BY ORGANIZATIONS IN PROMESA'S PEER GROUP TO INDIVIDUALS IN POSITIONS SIMILIAR TO THE OFFICERS OF PROMESA. PROMESA INC 311 EAST 175TH STREET BRONX NY 10457 132663328 HEALTH SERV NY 501(C)(3) 10 Acacia false PROMESA FOUNDATION INC 311 EAST 175TH STREET BRONX NY 10457 133411787 Development NY 501(C)(3) 12 Acacia false PROMESA ADMINISTRATIVE SERVICES ORG INC 311 EAST 175TH STREET BRONX NY 10457 133653276 Management NY 501(C)(3) 12 Acacia false PROMESA RESIDENTIAL HEALTHCARE FACILITY 308 EAST 175TH STREET BRONX NY 10457 133676681 HEALTHCARE NY 501(C)(3) 4 Acacia false Acacia Network Inc 300 EAST 175TH STREET BRONX NY 10457 134014082 ADMIN NY 501(C)(3) 12 NA false CORPORATION FOR YOUTH ENERGY CORPS 300 EAST 175th STREET BRONX NY 10457 133072640 YOUTH PROGRAM NY 501(C)(3) 7 Acacia false EAST HARLEM COUNCIL FOR COMMUNITY IMPROV 413 EAST 120TH STREET NEW YORK NY 10035 132969933 HOUSING NY 501(C)(3) 7 Acacia false ACACIA NETWORK HOUSING Inc 1064 FRANKLIN AVENUE BRONX NY 10456 260076866 HOUSING NY 501(C)(3) 7 Acacia false GENERAL DEVELOPMENT AND ORIENTATION 717 SOUTHERN BLVD BRONX NY 10455 133333051 HOUSING NY 501(C)(3) 7 Acacia false 1068 FRANKLIN AVENUE HOUSING DEVELOPMENT 1776 CLAY AVENUE BRONX NY 10457 208317595 HOUSING NY 501(C)(4) N/A Acacia false THE JULIO MARTINEZ MEMORIAL FUND 1064 FRANKLIN AVENUE BRONX NY 10456 810623501 Development NY 501(C)(3) 7 Acacia false PROMESA HOMEFIRST Housing Development 1776 CLAY AVE BRONX NY 10457 322217515 HOUSING NY 501(C)(3) 7 Acacia false La Rama Inc 300 East 175th Street Bronx NY 10457 454797184 Housing NY 501(C)(3) Applied For Acacia false Capital District Latinos Inc 1776 Clay Avenue Bronx NY 10574 453647494 Housing NY 501(C)(3) Applied For Acacia false HISPANOS UNIDOS DE BUFFALO INC 254 VIRGINIA STREET BUFFALO NY 14201 161243094 SOCIAL SERVIC NY 501(C)(3) 7 ACACIA false BUFFALO HISPANIC MANAGEMENT COMPANY INC 254 VIRGINIA STREET BUFFALO NY 14201 223035890 MANAGEMENT NY 501(C)(2) ACACIA false LOISAIDA INC 300 EAST 175TH STREET BRONX NY 10457 133023183 ANNUAL FAIR NY 501(C)(3) 10 ACACIA false AUDUBON PARTNERSHIP FOR ECONOMIC DEVELOP 300 EAST 175TH STREET BRONX NY 10457 133927797 ECONOMIC NY 501(C)(3) 7 ACACIA false ACDP INC 3940 BROADWAY NEW YORK NY 10032 133266145 Social Servic NY 501(c)(3) 7 Acacia false PALACIO DORADO MANAGEMENT CORP 300 E 175th St BRONX NY 10457 464966129 HOUSING NY 501(C)(3) N/A ACACIA false EL REGRESO INC 141 SOUTH THIRD STREET BROOKLYN NY 11211 061179595 HEALTH SERVIC NY 501(C)(3) 7 ACACIA false Acacia Maria Isabel HDFC 630 Jackson Ave Bronx NY 10455 133192496 HOUSING NY 501(C)(3) 10 ACACIA false 607 CONCORD AVENUE HDFC 2804 3RD AVE 4TH FLOOR BRONX NY 10455 134146104 HOUSING NY 501(C)(3) 10 ACACIA false HELLGATE MANAGEMENT CORPORATION 413 EAST 120TH STREET NEW YORK NY 10035 132985574 HOUSING NY 501(C)(3) 10 ACACIA false LA FORTALEZA HDFC 413 EAST 120TH STREET NEW YORK NY 10035 132969933 HOUSING NY 501(C)(3) 10 ACACIA false PARK PLAZA APARTMENTS HDFC 413 EAST 120TH STREET NEW YORK NY 10035 132969933 HOUSING NY 501(C)(3) 9 ACACIA false 414-418 EAST 119 STREET GREENHOPE HDFC 300 E 175TH STREET BRONX NY 10457 133391215 HOUSING NY 501(C)(3) 7 ACACIA false LA CASITA II HOUSING DEVELOPMENT FUND CO 966 PROSPECT AVE BRONX NY 10459 133621434 HOUSING NY 501(c)(3) 7 ACACIA false THE DORMITORY PROJECT HDFC 974 prospect Ave BRONX NY 10459 133989960 HOUSING NY 501(c)(3) Applied for ACACIA false MARIA ISABEL HDFC INC 2804 THIRD AVE BRONX NY 10455 133192496 HOUSING NY 501(c)(3) 7 ACACIA false SOUTH BRONX COMMUNITY MANAGEMENT CO INC 2804 THIRD AVE BRONX NY 10455 132850133 HOUSING NY 501(c)(3) 7 ACACIA false URBAN RENAISSANCE COLLABORATION LP 1776 CLAY AVE BRONX NY 10457 113665575 HOUSING NY Acacia false false PROMESA APARTMENTS LP 1776 CLAY AVE BRONX NY 10457 208678386 HOUSING NY Acacia false false PROMESA COURT LIMITED PARTNERSHIP 1776 CLAY AVE BRONX NY 10457 263478423 HOUSING NY Acacia false false 245 E MOSHOLU APTS LLC 1776 CLAY AVENUE BRONX NY 10457 272032348 HOUSING NY ACACIA false false WEST TREMONT RESIDENCES LLC 1776 CLAY AVENUE BRONX NY 10457 451142893 HOUSING NY ACACIA false false CROTONA PARK RESIDENCES LLC 1776 CLAY AVENUE BRONX NY 10457 461349705 HOUSING NY ACACIA false false PROMESA COMMUNITY APARTMENTS INC 1776 CLAY AVE BRONX NY 10457 208678278 HOUSING NY Acacia C CORP false URBAN RENAISSANCE COLLABORATION INC 1776 CLAY AVE BRONX NY 10457 061669310 HOUSING NY Acacia C CORP false PROMESA COURT ESTATES INC 1776 CLAY AVE BRONX NY 10457 263478373 HOUSING NY Acacia C CORP false 245 EAST MOSHOLU PARKWAY HDFC 1776 CLAY AVE BRONX NY 10457 264685755 HOUSING NY Acacia C CORP false PROMESA ENTERPRISES LTD 300 EAST 175th STREET BRONX NY 10457 133819522 Holding Co. NY Acacia C CORP false CROTONA PARK ESTATES HDFC 1776 CLAY AVENUE BRONX NY 10457 463162622 HOUSING NY ACACIA C CORP false WEST TREMONT HDFC 1776 CLAY AVENUE BRONX NY 10457 421142739 HOUSING NY ACACIA C CORP false BECK STREET DEVELOPMENT HDFC 644 BECK STREET BRONX NY 10455 463949463 HOUSING NY ACACIA C CORP false FOX STREET DEVELOPMENT HDFC 2804 THIRD AVENUE BRONX NY 10455 463956935 HOUSING NY ACACIA C CORP false ACACIA GARDENS HOUSING DEVELOPMENT FUND 300 E 175TH ST BRONX NY 10457 475653309 HOUSING NY ACACIA C CORP false CROTONA PARK MANAGERS INC 1776 CLAY AVENUE BRONX NY 10457 461343088 HOUSING NY ACACIA C CORP false 245 EAST MOSHOLU INC 1776 CLAY AVENUE BRONX NY 10457 272032190 HOUSING NY ACACIA C CORP false false false false false false false false false false true false false false false true true true true false