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SOMALTOW HOUSING COMPANY INC: Form 990, tax year 2025

View the entire original 990 at ProPublica ↗

Organization
SOMALTOW HOUSING COMPANY INC (EIN 23-7120738)
Tax period
2025-01-01 to 2025-12-31
Filed
2026-09-24
IRS object ID
202632679349301468
Schema version
2025v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2026-09-24T14:42:37-05:00ReturnTs
Tax Period End2025-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN141555429PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1UHY ADVISORS NORTHEAST INCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14 TOWER PLACE EXECUTIVE PARK 7THAddressLine1Txt
Address Line2FLOORAddressLine2Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12203ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2025-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN237120738EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SOMALTOW HOUSING COMPANY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSOMABusinessNameControlTxt
Phone5184630294PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGARY HALLOCKPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone5184630294PhoneNum
Signature2026-09-22SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonXIAOQIANG ZHANGPreparerPersonNm
PTINP01577994PTIN
Phone5184493166PhoneNum
Preparation2026-09-22PreparationDt
FieldValueIRS element (for citing)
Tax2025TaxYr

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerGARY HALLOCKPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$9,023,501GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1971FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionLOW INCOME SENIOR HOUSING PROJECT IN ALBANY, NEW YORK.ActivityOrMissionDesc
Voting Members Governing Body8VotingMembersGoverningBodyCnt
Voting Members Independent8VotingMembersIndependentCnt
Total Employee24TotalEmployeeCnt
Total Volunteers8TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$3,000CYContributionsGrantsAmt
PY Program Service Revenue$4,432,371PYProgramServiceRevenueAmt
CY Program Service Revenue$5,749,647CYProgramServiceRevenueAmt
PY Investment Income$119,941PYInvestmentIncomeAmt
CY Investment Income$212,669CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$4,552,312PYTotalRevenueAmt
CY Total Revenue$5,965,316CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$5,069,990PYOtherExpensesAmt
CY Other Expenses$5,739,379CYOtherExpensesAmt
PY Total Expenses$5,069,990PYTotalExpensesAmt
CY Total Expenses$5,739,379CYTotalExpensesAmt
PY Revenues Less Expenses-$517,678PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$225,937CYRevenuesLessExpensesAmt
Total Assets BOY$11,897,812TotalAssetsBOYAmt
Total Assets EOY$12,563,339TotalAssetsEOYAmt
Total Liabilities BOY$3,828TotalLiabilitiesBOYAmt
Total Liabilities EOY$347,239TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$11,893,984NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$12,216,100NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant ChangeYes (1)SignificantChangeInd
Expense$5,689,210ExpenseAmt
Revenue$5,749,647RevenueAmt
DescTO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.Desc
Total Program Service Expenses$5,689,210TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related InvstYes (1)ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam MemYes (1)BusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntYes (1)BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document16IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee24EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members8GoverningBodyVotingMembersCnt
Independent Voting Member8IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonKIM HANSENPersonNm
Phone5184630294PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
TYLER FRONTE
DIRECTOR0.500.50Yes (X)$0$0$0
CAREN HICKS
DIRECTOR0.500.50Yes (X)$0$0$0
ADAM LASEK
DIRECTOR0.500.00Yes (X)$0$0$0
STEVE REHFUSS
DIRECTOR0.750.75Yes (X)$0$0$0
GARY HALLOCK
PRESIDENT2.502.50Yes (X)$0$0$0Yes (X)
PETER MCKEE
VICE-PRESIDENT1.001.00Yes (X)$0$0$0Yes (X)
JOHN SABURRO
TREASURER1.001.00Yes (X)$0$0$0Yes (X)
ERIC SPRAGUE
SECRETARY0.500.50Yes (X)$0$0$0Yes (X)
KIMBERLY HANSEN
EXECUTIVE DIRECTOR5.0035.00$117,795$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$117,795TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
BISHOP BEAUDRY CONSTRUCTION LLC
2885 CURRY RDSCHENECTADYNY12303REHABILITATION PROJECT$1,940,754
RIDA ARCHITECTURE PLLC
2022 WESTERN AVEALBANYNY12203ARCHITECTURAL SERVICES$521,207
SMITH & HENZY ADVISORY GROUP
1079 SW MULBERRY WAYBOCA RATONFL33486DEVELOPER FEES$252,951
CHW ATTORNEYS
54 STATE STALBANYNY12207LEGAL FEES$181,671
GORDON BEACH
25 OLD RAVENA RDSELKIRKNY12158FLOORING CONTRACTOR$177,992
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K5CntrctRcvdGreaterThan100KCnt
All Other Contributions$3,000AllOtherContributionsAmt
Total Contributions$3,000TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
LOW-INCOME HOUSING RENTS (SMT LP)531110$3,633,374$3,633,374
DEVELOPER FEE541610$912,015$912,015
LOW-INCOME HOUSING RENTS (SMT OWN531110$663,546$663,546
MORTGAGE INTEREST522292$420,713$420,713
MANAGEMENT FEE523940$119,999$119,999
FieldValueIRS element (for citing)
Total Program Service Revenue$5,749,647TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$90,787TotalRevenueColumnAmt
Exclusion$90,787ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$3,180,067SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$3,058,185SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$121,882SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$121,882TotalRevenueColumnAmt
Exclusion$121,882ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,965,316TotalRevenueColumnAmt
Related Or Exempt Func Income$5,749,647RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$212,669ExclusionAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$8,068TotalAmt
Management And General$8,068ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$10,119TotalAmt
Management And General$10,119ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$469,852TotalAmt
Program Services$455,537ProgramServicesAmt
Management And General$14,315ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$8,951TotalAmt
Management And General$8,951ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$4,216TotalAmt
Management And General$4,216ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
RENTAL EXPENSES SMT LP$4,722,140$4,722,140
RENTAL EXPENSES SMTO LL$469,114$469,114
LP LOAN NET ADJUSTMENT$42,419$42,419
DONATIONS$4,500$4,500

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,739,379TotalAmt
Program Services$5,689,210ProgramServicesAmt
Management And General$50,169ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$278,373BOYAmt
EOY$1,113,782EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$2,671,790BOYAmt
EOY$2,590,376EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY-$11,701,739BOYAmt
EOY$8,524,559EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$20,649,388BOYAmt
EOY$334,622EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$11,897,812BOYAmt
EOY$12,563,339EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$3,828BOYAmt
EOY$139,819EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$207,420EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,828BOYAmt
EOY$347,239EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$11,893,984BOYAmt
EOY$12,216,100EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$11,893,984BOYAmt
EOY$12,216,100EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$11,897,812BOYAmt
EOY$12,563,339EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$225,937ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$29,778NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$66,401OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewYes (1)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
FS Audited0FSAuditedInd
Audit Committee0AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$24,000CurrentTaxYearMinus2YearsAmt
Current Tax Year$3,000CurrentTaxYearAmt
Total$27,000TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,700,410CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,950,346CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$3,964,342CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,432,371CurrentTaxYearMinus1YearAmt
Current Tax Year$5,749,647CurrentTaxYearAmt
Total$19,797,116TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,700,410CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,950,346CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$3,988,342CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,432,371CurrentTaxYearMinus1YearAmt
Current Tax Year$5,752,647CurrentTaxYearAmt
Total$19,824,116TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$554,119CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$551,980CurrentTaxYearMinus1YearAmt
Current Tax Year$1,335,859CurrentTaxYearAmt
Total$2,441,958TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$554,119CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$551,980CurrentTaxYearMinus1YearAmt
Current Tax Year$1,335,859CurrentTaxYearAmt
Total$2,441,958TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$17,382,158PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$41,106CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$37,148CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$62,487CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$100,770CurrentTaxYearMinus1YearAmt
Current Tax Year$90,787CurrentTaxYearAmt
Total$332,298TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$41,106CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$37,148CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$62,487CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$100,770CurrentTaxYearMinus1YearAmt
Current Tax Year$90,787CurrentTaxYearAmt
Total$332,298TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,741,516CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,987,494CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,050,829CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,533,141CurrentTaxYearMinus1YearAmt
Current Tax Year$5,843,434CurrentTaxYearAmt
Total$20,156,414TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.86240PublicSupportCY509Pct
Public Support PY5090.91810PublicSupportPY509Pct
Investment Income CY0.01650InvestmentIncomeCYPct
Investment Income PY0.01710InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCH. A, PART III, LINE 2FormAndLineReferenceDesc
ExplanationPROGRAM REVENUES INCLUDE RENTS RECEIVED IN SOUTH MALL TOWERS ALBANY LP AND SOUTH MALL TOWERS OWNER LLC.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp

FieldValueIRS element (for citing)
DescINVESTMENT IN SUBSIDIARIESDesc
Book Value$8,524,559BookValueAmt
Method ValuationCMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Program Rltd$8,524,559TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescDUE TO RELATED PARTYDesc
Amt$207,420Amt
FieldValueIRS element (for citing)
Total Liability$207,420TotalLiabilityAmt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
BISHOP BEAUDRY CONSTRUCTION LLC
DIRECTOR LASEK AND EXEC DIRECTOR'S HUSBAND ARE PRINCIPALS IN BB CONST$1,940,754REHABILITATION PROJECT0
EMPLOYEES 2
FAMILY MEMBERS OF EXECUTIVE DIRECTOR$115,945COMPENSATION0
REHFUSS LAW FIRM
DIRECTOR STEVE REHFUSS IS A PRINCIPAL IN THE LAW FIRM$35,481PROFESSIONAL SERVICES0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990 - ADDITIONAL INFORMATIONSOMALTOW HOUSING COMPANY INC ("SOMALTOW") IS THE SPONSOR OF A LOW-INCOME SENIOR HOUSING PROJECT IN ALBANY, NEW YORK, COMPRISING 345 RENTAL UNITS. THE OPERATIONS OF THE PROJECT UNTIL NOVEMBER 2025 WERE CONDUCTED IN SOUTH MALL TOWERS ALBANY LP, OWNED 99.991% BY SOMALOW. THE OWNERSHIP STRUCTURE WAS REORGANIZED IN 2025 TO TAKE ADVANTAGE OF THE NEW YORK STATE LOW INCOME HOUSING TAX CREDIT AND TO CARRY OUT A FULL REHABILITATION OF THE PROPERTY. FROM NOVEMBER 2025 THE RENTAL OPERATIONS ARE CONDUCTED IN SOUTH MALL TOWERS OWNER LLC, A NEWLY-FORMED ENTITY OWNED 99.99% BY A SINGLE-MEMBER LLC OF WHICH SOMALTOW IS THE SOLE MEMBER AND 0.01% BY A CORPORATION OF WHICH SOMALTOW IS THE SOLE OWNER. IN ANTICIPATION OF THE REORGANIZATION, CUMULATIVE INDEBTEDNESS OF $21,022,170 FROM SOUTH MALL TOWERS ALBANY TO SOMALTOW HOUSING WAS CANCELED. THE RENTAL REVENUES AND EXPENSES PRESENTED IN PARTS VIII AND IX OF FORM 990 RESPECTIVELY INCLUDE THE PASS-THROUGH RENTAL INCOME AND EXPENSES FROM THE LOWER-TIER ENTITIES.
FORM 990, PART III, LINE 3THE PRIMARY EXEMPT PURPOSE AND OPERATIONS OF SOMALTOW HOUSING, PROVIDING LOW-INCOME SENIOR HOUSING, REMAIN UNCHANGED. THERE WERE CHANGES IN 2025 TO THE ORGANIZATIONAL STRUCTURE AS DESCRIBED IN THE NOTE ABOVE.
FORM 990, PART VI, SECTION A, LINE 2OFFICER, DIRECTOR, TRUSTEE, KEY-EMPLOYEE RELATIONSHIPS: DIRECTOR ADAM LASEK AND HUSBAND OF THE EXECUTIVE DIRECTOR HAVE A BUSINESS RELATIONSHIP.
FORM 990, PART VI, SECTION B, LINE 11BFORM 990 REVIEW PROCESS: A DRAFT COPY OF THE FORM 990 WAS SENT TO THE TREASURER FOR HIS REVIEW AND COMMENTS PRIOR TO A REVIEW BY THE OTHER BOARD MEMBERS. A DRAFT COPY OF THE FORM 990 WAS THEN SENT TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12CCONFLICT OF INTEREST POLICY PROCEDURES: ALL BOARD MEMBERS ARE REQUIRED TO RESPOND TO AN ANNUAL QUESTIONNAIRE REGARDING ANY CONFLICTS OF INTEREST. ANY NOTED CONFLICTS ARE RESOLVED IN A TIMELY MANNER. COPIES OF THE QUESTIONNAIRE ARE MAINTAINED BY THE ORGANIZATION. ANY DIRECTOR OR OFFICER MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ARE REQUIRED TO RECUSE THEMSELVES FOM ANY DECISION ON MATTERS IN WHICH THEY HAVE AN INTEREST.
FORM 990, PART VI, SECTION C, LINE 19PUBLIC ACCESS TO GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS: THESE ARE AVAILABLE ON REQUEST.
PART VI, LINE 16PARTICIPATION IN JOINT VENTURE OR SIMILAR ARRANGEMENT WITH A TAXABLE ENTITY: THE LOW-INCOME RENTAL OPERATIONS ARE CONDUCTED IN LOWER TIER ENTITIES, AS DESCRIBED IN DETAIL IN THE "ADDITIONAL INFORMATION NOTE, ABOVE.
FORM 990, PART XI, LINE 9:BAD DEBT RECOVER 66,500. RECONCILIATION ADJUSTMENT -99.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1SOMALTOW MM LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
EIN334876342EIN
Primary ActivitiesHOLDING COMPANYPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Total Income$663,546TotalIncomeAmt
End Of Year Assets$20,532,382EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1SOMALTOW HOUSINGBusinessNameLine1Txt

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1CAPITAL HOUSING DEVELOPMENT FUND COMPANY INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 S PEARL STAddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12207ZIPCd
FieldValueIRS element (for citing)
EIN880732433EIN
Primary ActivitiesNOMINAL TITLE-HOLDERPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Exempt Code Section501(C)(4)ExemptCodeSectionTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1SOMALTOW HOUSINGBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled Organization0ControlledOrganizationInd

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtPredominant Income TypePredominantIncomeTypeTxtShare Of Total IncomeShareOfTotalIncomeAmtShare Of EOY AssetsShareOfEOYAssetsAmtDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerIndOwnershipOwnershipPct
SOUTH MALL TOWERS ALBANY LP
101 S PEARL STALBANYNY12207010747926LOW INCOME HOUSINGNYSOMALTOW HOUSINGRENTALS$24,618,642$1,919,231000.99990
SOUTH MALL TOWERS OWNER LLC
101 S PEARL STALBANYNY12207334853953LOW INCOME HOUSINGNYSOMALTOW HOUSINGRENTALS$663,546$20,532,382000.99990

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdEntity TypeEntityTypeTxtControlled OrganizationControlledOrganizationIndBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtShare Of Total IncomeShareOfTotalIncomeAmtShare Of EOY AssetsShareOfEOYAssetsAmtOwnershipOwnershipPct
TOWERS HOUSING ALBANY INC
101 S PEARL STALBANYNY12207020647484HOLDING COMPANYNYC0
SOMALTOW SLIHC CORPORATION
101 S PEARL STALBANYNY12207393163755HOLDING COMPANYNYC0SOMALTOW HOUSING$19$1171.00000
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsYes (1)ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (5 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
SOUTH MALL TOWERS ALBANY LP
A$420,713MORTGAGE INTEREST ACCRUED
SOUTH MALL TOWERS ALBANY LP
B$135,000CAPITAL CONTRIBUTION
SOUTH MALL TOWERS ALBANY LP
E$207,420AMOUNT DUE
SOUTH MALL TOWERS ALBANY LP
L$119,999MANAGEMENT FEE ACCRUED
SOUTH MALL TOWERS OWNER LLC
L$912,015DEVELOPER FEE ACCRUED

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