2016-11-15T01:31:16-00:00 2015-12-31 Yeboa & Lawrence CPAsLLP 629 Fifth Avenue Pelham NY 10803 990 2015-01-01 112600290 ALLEN AME HOUSING CORPORATION ALLE 7186571803 110-42 MERRICK BOULEVARD JAMAICA NY 11433 Kevin Howard Director of Finance 2016-11-15 false Pauline Tate 9147120312 2016-11-15 2015 2017-02-10 21:41:12Z Floyd Flake 110-31 Merrick Blvd Jamaica NY 11433 2283042 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. 8 7 5 0 0 1187475 2283042 15495 0 0 1202970 2283042 0 0 444040 435404 0 0 935749 896954 1379789 1332358 -176819 950684 7777813 8627542 3511906 3426045 4265907 5201497 The organization provides affordable housing to economically challenged residence of South Queens, New York. false false 1208267 1208267 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. 1208267 true true 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 true true false false true 0 0 false 5 true false false false false false false false false false false X 8 7 true false false false false false false true true false false true true true true true false true true false NY X Kevin Howard 7186571803 110-42 Merrick Blvd Jamaica NY 11433 Floyd Flake President 020.00 020.00 X X X X 150000 249700 0 Kevin Howard Director of Finance 040.00 040.00 X X X 100000 0 0 Harold Flake Director of Operations 040.00 040.00 X X X 70000 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 Michael Stephens Board Member 002.00 002.00 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 Patricia Rubens Board Member 002.00 002.00 X 0 0 0 320000 249700 1 false true true Rental Income 531110 1021935 1021935 Other income 531110 20118 20118 Management fee 531110 21142 21142 Donation 531110 1219847 1219847 2283042 2283042 2283042 0 0 0 0 320000 256000 64000 60897 48718 12179 0 0 25231 20184 5047 29276 23420 5856 21142 21142 37748 30198 7550 34500 27600 6900 0 0 3118 2494 624 0 11150 8920 2230 0 0 44469 35575 8894 0 0 0 104498 104498 0 235289 235289 46505 41854 4651 Bad debt expense 14070 14070 Real estate taxes and water and sewer 193541 193541 Repair and maintenance and utilities 118074 118074 Waste and garbage disposal 2050 2050 30800 24640 6160 1332358 1208267 124091 0 183962 933443 48168 96713 305828 305828 282991 244734 8369264 3343960 5222136 5025304 1734728 2021520 7777813 8627542 180614 208559 2950962 2866135 287756 241456 92574 109895 3511906 3426045 X 4265907 5201497 4265907 5201497 7777813 8627542 X 950684 -15094 X false true X true false X 0 0.00000 636784 90000 1219847 1946631 507548 1226767 1279996 1097475 1047649 5159435 287324 287324 1431656 1226767 1279996 1187475 2267496 7393390 7393390 15497 15495 15546 46538 0 15497 15495 15546 46538 0 0 1431656 1226767 1295493 1202970 2283042 7439928 0.99370 0.99040 0.00630 0.00960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 619884 619884 7470915 3080209 4390706 62611 47897 14714 215854 215854 5025304 Financial derivatives and other financial products Closely-held equity interests Security and utility deposits 13726 Developers fees receivable 313056 Interest receivable on outstanding balance from sale of property 55122 Tenant security deposits 27971 Escrow deposit 2870 Due from affiliate 1539796 Other receivable 68979 2021520 Federal income taxes Prepaid rent 5450 Security deposits-Tenants 76207 Due to others 11250 Escrow liability Interest rate swap liability 16988 109895 2283042 2283042 2283042 1332358 1332358 1332358 X false false false false false false false false false Floyd Flake President 150000 249700 150000 249700 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. Greater Allen AME Development LLC 110-42 Merrick Blvd Jamaica NY 11433 711049304 Commercial Lease Rental NY Allen AME Housing Corporation Related 259457 2602427 false true 0.50000 true false false false false false false false false false true true false false false false false false false Greater Allen AME Development LLC k 44469 Greater Allen AME Development LLC l 21142