2011-11-14T08:11:09-05:00 2010-12-31 WithumSmithBrown PC 1 SPRING STREET NEW BRUNSWICK NJ 08901 990 2010-01-01 133608906 PROMESA HOUSING DEVELOPMENT FUND CORPORATION INC PROM 7182991100 311 EAST 175TH STREET BRONX NY 10457 RAUL RUSSI 2011-10-15 true Joseph Perez 7328281614 2010 2016-03-07 17:11:31Z RAUL RUSSI 1776 CLAY AVENUE BRONX NY 10457 2431583 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. 4 4 0 0 0 0 0 2467585 2430777 2364 806 0 0 2469949 2431583 0 0 0 0 26529 237297 0 0 0 2323195 2325303 2349724 2562600 120225 -131017 7186541 8173049 5217940 6335465 1968601 1837584 TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY. false false 2007120 2430777 THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK 2007120 true false false true false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false true false false false false false true false 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 CFO PROMESA SYSTEMS INC 7182991100 1776 CLAY AVE BRONX NY 10457 X EDUARDO ALAYON 1.0 X X 0 0 0 MILAGROS BAEZ O'TOOLE 1.0 X X 0 0 0 Pedro Falcon 1.0 X X 0 0 0 Andrew Gonzalez 1.0 X 0 0 0 HON HECTOR L DIAZ 1.0 X 5222 125316 0 TOMAS DEL RIO 2.0 X 16296 216498 26356 PAMELA MATTEL 2.0 X 10461 227839 11711 RAUL RUSSI 2.0 X 18092 394008 24249 Ralph Declet 35.0 X 180775 0 8250 ADRIENE ROSELL X 0 187470 17341 DR SAROJ BAKSHI X 0 186032 15966 OCTAVIO LIRIANO X 0 162197 26124 DR DANIEL ROSA X 0 169516 14629 230846 1668876 144626 1 false true false PM ARCHITECTURE PC 28 W 36TH STREET 4TH FLOOR NEW YORK NY 10018 Architecture 126803 1 0 RENT REVENUE 532000 1630515 1630515 COMMERCIAL RENT 532000 83412 83412 OTHER 532000 11130 11130 CONSULTING FEES 532000 424875 424875 ENFORCEMENT MORTGAGE FORGIVENESS 280845 280845 2430777 806 806 0 0 0 0 0 0 0 2431583 2430777 806 0 0 0 0 48272 48272 0 189025 189025 0 0 0 0 47565 47565 23178 23178 3150 3150 0 0 75032 75032 0 9058 9058 0 0 561207 561207 0 0 0 0 0 253141 253141 50553 50553 MISCELLANEOUS 52708 52708 CONTRACTUAL EXPENSES 798451 798451 BAD DEBTS 160200 160200 TELEPHONE 12897 12897 REPAIRS AND MAINTENANCE 278163 278163 2562600 2007120 555480 0 772842 1056119 201953 123818 31134 37632 9683651 3729807 6080004 5953844 100608 1001636 7186541 8173049 83527 272912 0 25130 4806160 4525315 328253 1512108 5217940 6335465 X 1968601 1837584 1968601 1837584 7186541 8173049 -131017 X false true true X false X 2004009 2335369 2353299 2467586 2430778 11591041 2004009 2335369 2353299 2467586 2430778 11591041 11591041 197 3146 3338 2364 805 9850 197 3146 3338 2364 805 9850 2004206 2338515 2356637 2469950 2431583 11600891 0.99915 0.99916 0.00085 0.00084 X false false false false false false false false true 3150 3150 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. 0 7 7 0 8987054 3622059 5364995 0 227737 13576 214161 0 142893 94172 48721 0 325960 325960 5953844 TENANT SECURITY DEPOSITS 67645 UTILITY DEPOSIT 1800 DUE FROM AFFILIATES 932191 1001636 0 RENT SECURITY PAYABLE 67645 DUE TO HPD 100373 DUE TO AFFILIATES 1323914 LINE OF CREDIT 20176 1512108 2431583 2562600 -131017 -131017 2431583 2431583 2431583 2562600 2562600 2562600 FIN 48 FOOTNOTE Promesa Housing Development Fund Corporation, the Company, adopted the accounting pronouncement dealing with uncertain tax positions, as of January 1, 2009. Upon adoption of this accounting pronouncement, the Company has no unrecognized tax benefits. Furthermore, the Company had no unrecognized tax benefits at December 31, 2010. X X X false false false false false false false true false TOMAS DEL RIO 14270 189586 1400 18600 626 8312 844 11216 1001 13295 18141 241009 0 0 PAMELA MATTEL 9043 196957 1076 23424 342 7458 514 11197 0 0 10975 239036 0 0 Ralph Declet 152211 0 20000 0 8564 0 8250 0 0 0 189025 0 0 0 RAUL RUSSI 16375 356625 1318 28682 399 8701 977 21272 88 1912 19157 417192 0 0 ADRIENE ROSELL 0 187200 0 0 0 270 0 0 0 17341 0 204811 0 0 DR SAROJ BAKSHI 0 182325 0 0 0 3707 0 9505 0 6461 0 201998 0 0 OCTAVIO LIRIANO 0 161783 0 0 0 414 0 8682 0 17442 0 188321 0 0 DR DANIEL ROSA 0 159102 0 10000 0 414 0 7643 0 6986 0 184145 0 0 schedule j, 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. RC Consulting LLC EX CEO & CHAIRPERSON 39600 INDEPENDENT false 990 APPROVAL PROCESS PART VI, SECTION B, QUESTION 11B THE ORGANIZATION DISTRIBUTES THE 990 AT THE BOARD OF DIRECTORS MEETING. THE BOARD VOTES TO APPROVE THE 990. POLICIES 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. DISCLOSURE PART VI, SECTION C, LINE 19 The governing documents, conflict of interest policy and financial statements are available to the public upon request. EXECUTIVE COMPENSATION PART VI, SECTION B, LINE 15 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. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:HON. HECTOR L. 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