2011-05-13T05:41:07-05:00 2010-06-30 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2009-07-01 112683663 CYPRESS HILLS LOCAL DEVELOPMENT CORP CYPR 7186472800 625 JAMAICA AVENUE BROOKLYN NY 11208 MICHELLE NEUGEBAUER 7186472800 2011-05-12 1 FREDERICK H ROTHMAN 2128674000 2009 2016-02-24 21:20:13Z MICHELLE NEUGEBAUER 625 JAMAICA AVENUE BROOKLYN NY 11208 7629856 0 X www.cypresshills.org X 1983 NY TO REVITALIZE THE CYPRESS HILLS COMMUNITY. 12 12 313 0 0 0 6381008 7181711 498535 303848 283 83 7358 142196 6887184 7627838 0 0 5366527 5728660 0 143785 1233283 1560459 6599810 7289119 287374 338719 2818729 3098061 966212 906825 1852517 2191236 The Cypress Hills Local Development Corporation (CHLDC) was formed in May 1983 by a group of activist residents and merchants. CHLDC is a not-for-profit community organization, serving approximately 8,000 residents a year through a comprehensive array of community service programs and neighborhood development projects 0 0 4939224 YOUTH AND HUMAN SERVICES - PROGRAMS INCLUDE: HIGH QUALITY, FUN AFTERSCHOOL PROGRAMS for 650 CHILDREN IN SEVERAL PUBLIC SCHOOLS; INDIVIDUAL COUNSELING TO HELP LOCAL YOUNG PEOPLE WITH THE ADMISSIONS AND FINANCIAL AID PROCESSES OF APPLYING AND ENTERING COLLEGE, WORKSHOPS, AND COLLEGE TRIPS; GED INSTRUCTION AND EMPLOYMENT SERVICES FOR YOUNG PEOPLE, AGES 16-24 WHO ARE NOT IN SCHOOL OR WORKING; SCHOOL-BASED COMMUNITY CENTER WHICH PROVIDES ADULT EDUCATION, INCLUDING ESL AND GED, AFTERSCHOOL AND SUMMER PROGRAMS, AND RECREATION, HEALTH AND FITNESS FOR YOUTH AND ADULTS AND FAMILY COUNSELING. 1215689 303848 HOUSING DEVELOPMENT AND COUNSELING - PROGRAMS INCLUDE: ORGANIZING RESIDENTS TO ADVOCATE FOR IMPROVEMENTS AND REPAIRS IN THEIR BUILDINGS, AND AROUND SAFETY AND SANITATION ISSUES ON THEIR BLOCKS; CONNECTING PROSPECTIVE HOME BUYERS WITH BANKS DEDICATED TO INCREASING MINORITY AND LOW INCOME HOMEOWNERSHIP AND HELP BUYERS UNDERSTAND AND OBTAIN MORTGAGE PRODUCTS,CREDIT REPORTS AND DOWN PAYMENT ASSISTANCE GRANTS; OFFERING FREE, FOUR PART WORKSHOP SERIES TO FIRST TIME HOMEBUYERS TEACHING SMART HOME BUYING PRACTICES AND WE HAVE CREATED AND CURRENTLY MAINTAIN APPROXIMATELY 200 AFFORDABLE RENTAL APARTMENTS IN CYPRESS HILLS AND EAST NEW YORK WITH 300 ADDITIONAL UNITS IN DEVELOPMENT. 458594 ECONOMIC DEVELOPMENT - PROGRAMS INCLUDE:ASSISTING RESIDENTS TO USE EARN BENEFITS, A COMPUTERIZED SCREENING TOOL WHICH HELPS DETERMINE ELIGIBILITY FOR PUBLIC BENEFITS SUCH AS FOOD STAMPS AND THE EARNED INCOME TAX CREDIT. WE ALSO PROVIDE FREE TAX PREPERATION ASSISTANCE TO LOW-INCOME FAMILIES. IN THE 2010 TAX SEASON, WE PREPARED OVER 1,000 TAX RETURNS FOR LOW-INCOME RESIDENTS.PROVIDING TECHNICAL ASSISTANCE TO LOCAL MERCHANTS AND ORGANIZE A MERCHANTS ASSOCIATION GROUP. PROVIDING TRAINING FOR BUSINESSES AND FAMILIES ON BUDGETING, SAVINGS, FINANCIAL PRODUCTS, DEBT AND CREDIT AND COLLEGE SAVINGS. 6613507 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 18 0 1 313 1 0 0 0 0 0 0 0 0 0 12 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X Nancy Segarra 7186472800 625 JAMAICA AVENUE Brooklyn NY 11208 HAROLD GREEN 1.00 X X 0 0 0 MARISOL QUINONES 1.00 X X 0 0 0 LAMONT LAWES 1.00 X X 0 0 0 SYLVIA STOVALL 1.00 X X 0 0 0 YVONNE COOK 1.00 X 0 0 0 MICHAEL LAWES 1.00 X 0 0 0 MARIA C MAHAN 1.00 X 0 0 0 JOSE L NIEVES 1.00 X 0 0 0 HAMILTON D STERLING 1.00 X 0 0 0 PATRICIA A TANNER 1.00 X 0 0 0 ROGER E TANNER 1.00 X 0 0 0 Mirian Rodriguez 1.00 X 0 0 0 MICHELLE NEUGEBAUER 35.00 X 89538 0 19081 DANINE KNOWLES HODGE 35.00 X 82012 0 17375 171550 0 36456 0 0 0 0 0 216555 4280719 2684437 7181711 Development Fees 531310 303848 303848 303848 83 83 100885 2018 98867 98867 98867 MISCELLANEOUS 900099 43329 43329 43329 7627838 303848 0 142279 210214 89352 109693 11169 4280011 3956819 237282 85910 36255 33265 2652 338 788140 730397 41634 16109 414040 374714 30482 8844 33000 7523 23477 2000 420235 420235 77645 59675 10470 7500 406207 355210 44344 6653 134813 123957 7356 3500 206176 201505 4671 77786 74123 3500 163 3557 3557 52513 43315 9198 64797 64797 PARTICIPANT EXPENSES 45788 45688 100 MISCELLANEOUS 20990 16980 3411 599 bad debts 16952 15952 1000 7289119 6613507 531827 143785 390882 109102 14197 349033 1777186 1749746 102543 638365 14507 36703 744183 529071 519414 215112 2818729 3098061 726584 721177 39628 200000 174998 0 10650 966212 906825 X 1273331 1498478 579186 692758 1852517 2191236 2818729 3098061 X 0 1 1 X 0 X 5113793 6094487 6257014 6381008 7181711 31028013 5113793 6094487 6257014 6381008 7181711 31028013 31028013 370 424 2042 283 100968 104087 9404 26142 25412 30091 43329 134378 31266478 1026658 0.99240 0.99640 X Schedule A, Part II, Line 10, Explanation of Other Income: OTHER REVENUE Gross revenues from special events RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 303054 172484 130570 441129 356587 84542 215112 deferred rental income 10650 10650 7627838 7289119 338719 0 338719 7629856 2018 2018 7627838 0 7627838 7291137 2018 2018 7289119 0 7289119 Part X: Description of Uncertain Tax Positions Under FIN 48: Effective july 1, 2009, cypress hills adopted the provision pertaining to uncertain tax positions (asc topic 740) and has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Periods ending June 30, 2007 and subsequent remain subject to examination by applicable taxing authorities. Part XII, Line 2d - Other Adjustments: expenses related to sublease rental revenue: 2018. Part XIII, Line 2d - Other Adjustments: expenses related to sublease rental revenue: 2018. Form 990, Part VI, Section A, line 2 The following board members have a family relationship: a)Roger and Patricia Tanner b) Michael and Lamont Lawes. Form 990, Part VI, Section B, line 11 MANAGEMENT REVIEWS THE 990 TO OBTAIN AN UNDERSTANDING OF THE REPORTING REQUIREMENTS AND TO ENSURE IT IS ACCURATE AND COMPLETE. SUBSEQUENTLY, A COPY OF THE DRAFT 990 IS PROVIDED TO THE AUDIT COMMITTEE TO REVIEW. THE AUDIT COMMITTEE WILL MEET WITH MANAGEMENT TO DISCUSS THE 990 AND RESOLVE ANY QUESTIONS THAT MAY ARISE. THE DRAFT 990 WILL THEN BE DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL. UPON APPROVAL FROM THE BOARD, THE 990 WILL BE FILED. Form 990, Part VI, Section B, line 12c BOARD MEMBERS,OFFICERS AND EMPLOYEES REPORT ANNUALLY IF A CONFLICT OF INTEREST EXISTS. IF A CONFLICT APPEARS TO EXIST, MANAGEMENT AND THE BOARD WILL MEET THE INDIVIDUAL TO OBTAIN ALL THE FACTS. SUBSEQUENTLY, A VOTE WILL ENSUE IF THE MATTER IS INDEED A CONFLICT OF INTEREST. IF IT IS FOUND TO BE A CONFLICT OF INTEREST, THE INDIVIDUAL WITH THE CONFLICT OF INTEREST MUST REFRAIN FROM PARTICIPATING IN THE DELIBERATION AND DECISION MAKING CONCERNING THE MATTER THAT GAVE RISE TO THE CONFLICT. Form 990, Part VI, Section B, line 15 THE BOARD COMPARES THE SALARIES OF ITS OFFICERS TO THOSE OF OTHER ORGANIZATIONS OF SIMILAR SIZE WITHIN THE SAME INDUSTRY. This process was last done in 2010. 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 xi, line 2c: This process has not changed from the prior year. ARLINGTON APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION 625 JAMAICA AVE BROOKLYN NY 11208 113166122 Provide affordable residential apartments for low income families NY 501(c)(3) 9 N/A Cypress Hills Community School Development Corporation Inc 625 JAMAICA AVE BROOKLYN NY 11208 800003810 Development of a local school facility NY 501(c)(3) 7 N/A Cypress Homes Housing Development Fund Corporation 625 JAMAICA AVE BROOKLYN NY 11208 113440887 Provide affordable HOME OWNERSHIP for low income families NY 501(c)(3) 9 N/A Cypress West Housing Development Fund Corporation 625 JAMAICA AVE BROOKLYN NY 11208 113294777 Provide affordable residential apartments for low income families NY 501(c)(3) 9 N/A Glenmore Gardens Housing Development Fund Corporation 625 JAMAICA AVE bROOKLYN NY 11208 260354442 Develop Affordable homeownership for low income families NY 501(c)(3) 9 N/A Liberty125 Fountain LP 625 JAMAICA AVE bROOKLYN NY 11208 770711923 develop and provide affordable housing to low income people NY 501(c)(3) 7 N/A Hills associates LP 625 JAMAICA AVE bROOKLYN NY 11208 136400434 develop and provide affordable housing to low income people NY 501(c)(3) 7 N/A cypress hills child care corporation 625 JAMAICA AVE bROOKLYN NY 11208 113116118 provided childcare for low-income families NY 501(c)(3) 7 N/A CYPRESS COURT HOUSING CORPORATION 625 JAMAICA AVE BROOKLYN NY 11208 113317812 RENTAL NY N/A C 532596 4920634 1.00000 CYPRESS CORNERS HOUSING CORPORTATION 625 JAMAICA AVE BROOKLYN NY 11208 030385879 RENTAL NY N/A C 204917 5075228 1.00000 CYPRESS PLAZA GROUP HOUSING DEVELOPMENT FUND CORPORATION 625 JAMAICA AVE BROOKLYN NY 11208 205520783 RENTAL NY N/A C 249313 6534673 1.00000 Cypress Hills Housing Corporation 625 JAMAICA AVE BROOKLYN NY 11208 113044455 RENTAL NY N/A C 7113 3290412 1.00000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Glenmore Gardens Housing Development Fund Corporation D 1860144 cypresss hills child care corporation D 106059 cypress west housing development fund corporation D 98000 cypress homes housing development fund corporation D 4101475