2014-11-17T14:02:19-06:00 2013-12-31 271728945 O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2013-01-01 020663534 CABRINI HOUSING DEVELOPMENT FUND CORPORATION CABR 2126736262 220 EAST 19TH STREET NEW YORK NY 10003 PATRICIA KRASNAUSKY PRESIDENT 2123586265 2014-11-15 1 GARRETT M HIGGINS P00543209 9143818900 2014-11-10 2013 2015-11-30 17:44:51Z PATRICIA KRASNAUSKY 220 EAST 19TH STREET NEW YORK NY 10003 690897 0 0928 X WWW.CABRINI-ELDERCARE.ORG X 2002 NY CABRINI HOUSING DEVELOPMENT FUND CORPORATION (HDFC) BEGAN ITS OPERATIONS IN OCTOBER 2005 TO PROVIDE AFFORDABLE HOUSING TO THE VERY LOW INCOME AND HANDICAPPED, ELDERLY POPULATION. THE GOAL: TO MAXIMIZE RESIDENTS ABILITY TO MAINTAIN THEIR INDEPENDENCE WHILE "AGING IN PLACE." THE RESIDENCES PROVIDE SECURITY, COMMUNITY, AND CONTINUITY, IMPORTANT HOUSING FEATURES FOR AGING RESIDENTS THAT OTHER HOUSING ASSISTANCE PROGRAMS MAY NOT PROVIDE. CONSISTING OF 70 ONE BEDROOM APARTMENTS, CABRINI HDFC HOUSES 92 RESIDENTS, OF WHICH 62 OF THE HOUSEHOLD UNITS ARE CATEGORIZED AS EXTREMELY LOW INCOME (LESS THAN $17,650). VERY LOW INCOME IN THE NYC REGION IS DEFINED AS A HOUSEHOLD WITH AN INCOME OF LESS THAN $29,400 FOR A ONE PERSON HOUSEHOLD AND $33,600 FOR A TWO PERSON HOUSEHOLD. 9 8 0 8 0 0 0 200 684423 688047 1228 1026 2767 1624 688418 690897 0 0 0 0 0 0 0 0 0 859275 905931 859275 905931 -170857 -215034 13903317 13728436 12077289 12117442 1826028 1610994 X IT IS THE MISSION OF CABRINI APARTMENTS TO EXTEND THE INDEPENDENCE AND INCREASE THE QUALITY OF LIFE OF LOW INCOME AND MOBILITY IMPAIRED SENIOR CITIZENS THROUGH THE PROVISION OF SAFE, AFFORDABLE HOUSING IN CONJUNCTION WITH SOCIAL ACTIVITIES AND LINKING SUPPORT SERVICES. THESE SERVICES WILL BE PROVIDED INCORPORATING THE CORE VALUES OF CABRINI: COMPASSION. RESPECT. DIGNITY. EXCELLENCE. 0 0 702302 688047 CABRINI APARTMENTS IS A HUD 202 SUBSIDIZED INDEPENDENT SENIOR HOUSING FACILITY, LOCATED IN THE GRAMERCY PARK SECTION OF MANHATTAN. THE PROJECT IS SPONSORED BY CABRINI OF WESTCHESTER, A MINISTRY OF THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS. ENVISIONED IN 2000 AND OPENED IN 2005 ITS MISSION IS TO SERVE THOSE INDIVIDUALS WHOSE VERY LIMITED INCOME HAS COMPROMISED THEIR ABILITY TO FIND SAFE, ACCESSIBLE, AND AFFORDABLE HOUSING, AND TO DO SO IN A DIGNIFIED AND SUPPORTIVE ENVIRONMENT.CABRINI APARTMENTS IS COMPRISED OF 70 ONE-BEDROOM APARTMENTS AND 1 TWO BEDROOM APARTMENT FOR A LIVE-IN SUPERINTENDANT. EIGHT APARTMENTS ARE DESIGNED PARTICULARLY FOR THOSE WITH PHYSICAL DISABILITIES. A LARGE COMMUNITY ROOM AND KITCHEN, A LIBRARY/CONFERENCE ROOM, LAUNDRY ROOM AND GAME ROOM ARE AN INTEGRAL PART OF THE COMMUNITY. A LARGE FURNISHED AND LANDSCAPED COURTYARD AND A DECK ON THE TOP FLOOR ADD TO THE AMENITIES AVAILABLE TO ALL. OFFICE SPACE FOR STAFF OCCUPIES ONE HALL OFF A GRACIOUS LOBBY WHERE A RECEPTION AREA IS STAFFED FOR SECURITY PURPOSES. A FULL TIME MANAGER OVERSEES THE CABRINI APARTMENTS AND A TENANT COORDINATOR IS EMPLOYED WHOSE RESPONSIBILITY IS TO IDENTIFY NEEDS OF THE TENANTS, LINK SERVICES, ADVOCATE WITH THIRD PARTIES, COMPLETE MUNICIPAL APPLICATIONS FOR BENEFITS, AND COORDINATE EDUCATIONAL AND INFORMATION LECTURES RELATED TO AGING ISSUES AND OTHER SOCIAL ACTIVITIES. ALL EXPENSES OF CABRINI APARTMENTS ARE DIRECTLY RELATED TO PROVIDING SERVICES TO ACHIEVE THE GOALS OF CABRINI HDFCS MISSION. 702302 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 0 1 0 0 0 0 0 0 0 0 0 0 X 9 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DAVID ARDITTI 9146936800 115 BROADWAY DOBBS FERRY NY 10522 DONALD AMORUSO DIRECTOR 0.10 0.60 X 0 0 0 JAMES LEE ESQ TREASURER 0.10 X X 0 0 0 JAMES MIGLIORE SECRETARY 0.10 0.60 X X 0 0 0 PATRICIA KRASNAUSKY PRESIDENT 0.10 37.60 X X 0 307143 26698 RICHARD SCARLATA CHAIRMAN 0.10 X X 0 0 0 ROBERT DAVIS KENNEDY MD DIRECTOR 0.10 X 0 0 0 SR ARLENE VAN DUSEN MSC DIRECTOR 0.10 0.60 X 0 0 0 SR CATHERINE GARRY VICE CHAIR 0.10 0.60 X X 0 0 0 SR DIANE DALLE MOLLE DIRECTOR 0.10 X 0 0 0 DAVID ARDITTI ASSISTANT TREASURER 0.10 37.50 X 0 209053 37117 SUSAN STRANGIO ASSISTANT SECRETARY 0.10 37.60 X 0 47642 23825 0 563838 87640 0 0 1 0 SECURITAS SECURITY SERVICES USA PO BOX 403412 ATLANTA GA 303843412 SECURITY 110830 1 200 200 RENTAL INCOME 531110 688047 688047 688047 1026 1026 LAUNDRY AND VENDING MA 900099 1387 1387 MISCELLANEOUS 900099 237 237 1624 690897 688047 0 2650 X 50694 50694 14000 14000 282920 158710 124210 17705 10425 7280 167911 167911 2147 2147 279921 279921 28374 28374 CONTRACTS 41935 41935 REPAIRS AND MAINTENANCE 12509 12509 MISCELLANEOUS 7815 2517 5298 905931 702302 203629 0 3248 27797 857 1258 2665 1483 17936 33780 15565062 2215880 13591679 13349182 286932 314936 13903317 13728436 53126 87237 707 207 18105 18417 11996200 11996200 9151 15381 12077289 12117442 X 1825893 1610994 135 0 1826028 1610994 13903317 13728436 -215034 0 X X 0 1 X 1 1 1 X 20840 1480 25 200 22545 620686 637706 638033 684423 688047 3268895 641526 639186 638058 684423 688247 3291440 0 0 0 3291440 2377 24072 23979 1228 1026 52682 2377 24072 23979 1228 1026 52682 2754 2672 2736 2767 1624 12553 646657 665930 664773 688418 690897 3356675 0.98060 0.97880 0.01570 0.01650 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING MACHINES - 2009 AMOUNT: $ 2,679. 2010 AMOUNT: $ 2,637. 2011 AMOUNT: $ 2,700. 2012 AMOUNT: $ 2,529. 2013 AMOUNT: $ 1,387. MISCELLANEOUS - 2010 AMOUNT: $ 35. 2012 AMOUNT: $ 200. 2013 AMOUNT: $ 200. ADMIN FEE CREDIT - 2009 AMOUNT: $ 75. 2011 AMOUNT: $ 36. 2012 AMOUNT: $ 38. 2013 AMOUNT: $ 37. 0 1 X 5000000 5000000 10340535 2120859 8219676 20604 14114 6490 203923 80907 123016 13349182 DUE TO RELATED PARTY 15381 15381 X 690897 0 690897 0 690897 905931 0 905931 0 905931 PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE THEY MOVE OUT OF THE APARTMENT. PART X, LINE 2: THE PROJECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE PROJECT HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE PROJECT IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2010. 0 0 0 0 0 0 0 0 0 PATRICIA KRASNAUSKY PRESIDENT 0 307143 0 0 0 0 0 15300 0 11398 0 333841 0 0 DAVID ARDITTI ASSISTANT TREASURER 0 209053 0 0 0 0 0 12911 0 24206 0 246170 0 0 PART I, LINE 3 COMPENSATION PAID TO THE PRESIDENT IS DETERMINED BY A RELATED ENTITY, CABRINI OF WESTCHESTER, USING THE FOLLOWING PROCESS: IN 2008 A PROCESS WAS DEVELOPED TO DETERMINE THE COMPENSATION OF KEY EMPLOYEES AND OFFICERS OF THE ORGANIZATION AND ITS RELATED ENTITIES, RESULTING IN IDENTIFICATION OF THESE POSITIONS APPROPRIATE FOR ANNUAL COMPENSATION REVIEW: PRESIDENT AND CEO VICE PRESIDENT AND CFO VICE PRESIDENT AND ADMINISTRATOR VICE PRESIDENT OF LICENSED HOMECARE AGENCY PURSUANT TO THIS PROCESS, COMPARABLE COMPENSATION DATA FOR EACH OF THESE TITLES WERE OBTAINED FROM AN INDEPENDENT COMPENSATION ANALYSIS FIRM. THE FIRM BENCHMARKED THE COMPENSATION OF THESE EXECUTIVE LEVEL POSITIONS USING PROPRIETARY DATABASES AND PARTICIPATORY COMPENSATION SURVEY SOURCES. IN 2009, THE BENCH MARK RESULTS WERE UPDATED BY AN INDEPENDENT COMPENSATION ANALYSIS FIRM. ALL BUT THE VP/CFO POSITION (VACANT AT THE TIME OF ANALYSIS) WERE FOUND TO BE WITHIN 98% OF THE MARKET AVERAGE (OR MARKET MEAN) FOR EACH OF THE POSITIONS. CONSISTENT WITH ALL OTHER MANAGEMENT AND SUPERVISORY STAFF, IN 2009, THE COMPENSATION OF THESE POSITIONS WAS NOT INCREASED. THE COMPENSATION REVIEW FOR THE PRESIDENT AND CEO POSITION, RELYING UPON INDEPENDENT COMPARABLE COMPENSATION DATA WAS MADE BY THE BOARD OF TRUSTEES. NOTWITHSTANDING THE BOARD'S CONTINUED CONFIDENCE AND TRUST IN THE CEO, THE BOARD DETERMINED NOT TO INCREASE SALARY BASED UPON PREVAILING ECONOMIC CONDITIONS AND REDUCED NEW YORK STATE FUNDING. DOCUMENTATION CONTEMPORANEOUS WITH THE DELIBERATIONS OF THE BOARD OF TRUSTEES WAS MADE AND ENTERED INTO THE MINUTES OF THE BOARD OF TRUSTEES EXECUTIVE SESSION; A MEMORANDUM AND PERFORMANCE ASSESSMENT SUMMARY WAS ISSUED AND FILED IN THE PERSONNEL FILE. FORM 990, PART VI, SECTION A, LINE 3 CABRINI HDFC PURCHASES MANAGEMENT SERVICES FROM CABRINI OF WESTCHESTER. THESE SERVICES INCLUDE ADMINISTRATIVE AND FINANCE SERVICES. THE FOLLOWING OFFICERS WERE PAID BY CABRINI OF WESTCHESTER: PATRICIA KRASNAUSKY, DAVID ARDITTI AND SUSAN STRANGIO. THEIR COMPENSATION IS REPORTED IN PART VII, SECTION A AND SCHEDULE J, PART II. FORM 990, PART VI, SECTION B, LINE 11 CABRINI HOUSING DEVELOPMENT FUND 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. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS APPLICABLE TO DIRECTORS, OFFICERS, AND TO ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE ORGANIZATION. ANNUALLY, EACH DIRECTOR, OFFICER, AND MANAGEMENT EMPLOYEE HAS TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH WILL INFORM THE ORGANIZATION OF ANY POTENTIAL OR ACTUAL CONFLICTS A PERSON MAY HAVE. IF ANYTHING SHOULD CHANGE AFTER SIGNING THE POLICY, THE PERSON IS REQUIRED TO NOTIFY THE CEO OR BOARD CHAIR REGARDING THE CONFLICT. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE [BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF] HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE CHIEF EXECUTIVE OFFICER (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE AUDIT COMMITTEE OF THE BOARD. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR, (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD VICE-CHAIR) WHO SHALL BRING THESE MATTERS TO THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE OF THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO CABRINI HDFC. THE DECISION OF THE AUDIT COMMITTEE OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF CABRINI HDFC AND THE ADVANCEMENT OF ITS PURPOSE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G MANAGER/SUPERINTENDENT: PROGRAM SERVICE EXPENSES 31,848. MANAGEMENT AND GENERAL EXPENSES 124,210. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 156,058. SECURITY: PROGRAM SERVICE EXPENSES 126,862. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,862. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. CABRINI OF WESTCHESTER 115 BROADWAY DOBBS FERRY NY 10522 237063399 SKILLED NURSING FACILITY NY 501(C)(3) 9 N/A 0 CABRINI CARE AT HOME 220 EAST 19TH STREET NEW YORK NY 10003 020568159 HOME CARE SERVICES FOR THE AGED, DISABLED AND IMPAIRED PERSONS NY 501(C)(3) 9 CABRINI OF WESTCHESTER 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0