2014-11-11T10:34:51-06:00 2013-12-31 WithumSmithBrown PC 1 SPRING STREET NEW BRUNSWICK NJ 08901 990 2013-01-01 133608906 PROMESA HOUSING DEVELOPMENT FUND CORPORATION INC % TOMAS DEL RIO PROM 7182991100 311 EAST 175TH STREET Suite BRONX NY 10457 Raul Russi CEO 7182991100 2014-11-10 true Joseph Perez P00961850 7182991100 2013 2015-11-30 17:44:51Z RAUL RUSSI 311 EAST 175TH STREET BRONX NY 10457 5060324 false X WWW.PROMESA.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. 5 5 0 5 0 0 0 2938385 5059425 635 899 2807 0 2941827 5060324 0 0 0 0 0 0 0 0 0 3655824 4317338 3655824 4317338 -713997 742986 9592170 12399444 8798324 10862612 793846 1536832 TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY. false false 3578452 5059425 THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK 3578452 true false false true false false false false false false true false 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 5 5 false false false false false false false true true false false true true true true true true true true false NY X X TOMAS DEL RIO 7182991100 311 EAST 175TH STREET BRONX NY 10457 Eduardo Alayon Chair 1.0 0.0 X X 0 0 0 Shahabuddeen A Ally Vice Chair 1.0 0.0 X X 0 0 0 Pedro Falcon Secretary 1.0 0.0 X X 0 0 0 Milagros Baez O'Toole Treasurer 1.0 0.0 X X 0 0 0 Andrew Gonzalez Esq Member 1.0 0.0 X 0 0 0 TOMAS DEL RIO CFO 2.45 32.55 X 23736 272972 33720 PAMELA MATTEL COO 1.4 33.6 X 14242 270138 41715 RAUL RUSSI CEO 1.4 33.6 X 22021 467331 19886 Hector L Diaz President 1.4 33.6 X 8392 201407 12861 Ralph Declet VP of Development 35.0 0.0 X 167803 27317 27442 ADRIENE ROSELL ADMINISTRATOR 0.0 35.0 X 0 206188 31910 DR SAROJ BAKSHI MEDICAL DIRECTOR 0.0 35.0 X 0 207667 19119 DAVID COLLYMORE CHIEF MEDICAL OFFICER 0.0 35.0 X 0 215793 7980 PETER MARCUS PHYSICIAN 1.75 33.25 X 0 187685 26210 236194 2056498 220843 1 false true false 0 0 RENTAL INCOME 532000 1977324 1977324 COMMERCIAL RENT 532000 81147 81147 OTHER 532000 4685 4685 CONSULTING FEES 532000 2715424 2715424 ENFORCEMENT MORTGAGE FORGIVENESS 900099 280845 280845 5059425 899 899 0 0 0 0 0 0 0 0 0 0 5060324 5059425 899 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 84674 84674 30400 30400 7845 7845 0 0 474330 474330 11970 11970 33218 33218 0 0 1495010 1495010 0 0 0 0 0 271546 271546 86697 86697 MISCELLANEOUS 207433 207433 CONTRACTUAL EXPENSES 1517766 1517766 BAD DEBTS 96449 96449 4317338 3578452 738886 0 X 789547 153423 0 0 0 0 427056 69811 0 0 0 0 0 0 0 0 70965 67989 9786767 4503164 5722786 5283603 0 0 0 0 0 0 8267 0 2573549 6824618 9592170 12399444 509417 314627 0 0 9372 10435 0 0 0 0 0 0 4966905 4409782 0 0 3312630 6127768 8798324 10862612 X 793846 1536832 0 0 0 0 793846 1536832 9592170 12399444 742986 X false true X true false X 0 0 0 0 0 0 2467586 2430778 2554829 2938385 5059425 15451003 0 0 0 2467586 2430778 2554829 2938385 5059425 15451003 0 0 0 15451003 2364 805 717 635 899 5420 0 2364 805 717 635 899 5420 0 2807 0 2807 2469950 2431583 2555546 2941827 5060324 15459230 0.99947 0.99916 0.00035 0.00062 X false false false false false false false false true 7845 7845 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 9630661 4393821 5236840 156099 109343 46756 5283603 TENANT SECURITY DEPOSITS 67687 UTILITY DEPOSIT 1530 DUE FROM AFFILIATES 6385118 OTHER ASSETS - CIP AFFILIATE 360283 CONDO DOWN PAYMENT 10000 6824618 0 RENT SECURITY PAYABLE 69087 DUE TO HPD 100373 DUE TO AFFILIATES 5958308 6127768 X 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. PHDFC follows generally accepted accounting principles related to uncertain tax positions which require tax effects from an uncertain tax position to be recognized 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 jurisdiction. PHDFC is generally no longer subject to examination by the Internal Revenue Service for years before 2010. X X X false false false false false false false true false TOMAS DEL RIO CFO 20780 238973 2100 24150 856 9849 1020 11730 1678 19292 26434 303994 0 0 PAMELA MATTEL COO 12729 238037 1170 24830 343 7271 443 9405 1434 30433 16119 309976 0 0 Ralph Declet VP of Development 161678 26320 0 0 6125 997 8814 1435 14786 2407 191403 31159 0 0 RAUL RUSSI CEO 19402 411752 1969 41793 650 13786 861 18264 34 727 22916 486322 0 0 ADRIENE ROSELL ADMINISTRATOR 0 205918 0 0 0 270 0 9938 0 21972 0 238098 0 0 DR SAROJ BAKSHI MEDICAL DIRECTOR 0 203959 0 0 0 3708 0 9872 0 9247 0 226786 0 0 Hector L Diaz President 7231 173532 725 17403 436 10472 482 11556 33 790 8907 213753 0 0 DAVID COLLYMORE CHIEF MEDICAL OFFICER 0 215631 0 0 0 162 0 7506 0 474 0 223773 0 0 PETER MARCUS PHYSICIAN 0 187485 0 0 0 200 0 8269 0 17941 0 213895 0 0 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) 9 Acacia false PROMESA FOUNDATION INC 311 EAST 175TH STREET BRONX NY 10457 133411787 Development NY 501(C)(3) 11 Acacia false PROMESA ADMINISTRATIVE SERVICES ORG INC 311 EAST 175TH STREET BRONX NY 10457 133653276 Management NY 501(C)(3) 11 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) 11 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)(3) APPLIED FOR 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 502(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) 9 ACACIA false AUDUBON PARTNERSIP 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 FOX STREET DEVELOPMENT HDFC 2804 THIRD AVENUE BRONX NY 10455 463956935 HOUSING NY 501(C)(3) APPLIED FOR Acacia false BECK STREET DEVELOPMENT HDFC 664 BECK STREET BRONX NY 10455 463949463 HOUSING NY 501(C)(3) APPLIED FOR ACACIA false CROTONA PARK ESTATES HDFC 1776 CLAY AVENUE BRONX NY 10457 463162622 HOUSING NY 501(C)(3) APPLIED FOR ACACIA false WEST TREMONT HDFC 1776 CLAY AVE BRONX NY 10457 421142739 HOUSING NY 501(c)(3) APPLIED FOR ACACIA false URBAN RENAISSANCE COLLABORATION LP 1776 CLAY AVE BRONX NY 10457 113665575 HOUSING NY Acacia RELATED false false PROMESA APARTMENTS LP 1776 CLAY AVE BRONX NY 10457 208678386 HOUSING NY Acacia RELATED false false PROMESA COURT LIMITED PARTNERSHIP 1776 CLAY AVE BRONX NY 10457 263478423 HOUSING NY Acacia RELATED 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 false false false false false false false false false true false false false false true true true true false