St Philips On Convent Avenue, Corporation in New York, New York (NY)

St Philips On Convent Avenue, Corporation
Employer Identification Number (EIN)	133220594
Name of Organization	St Philips On Convent Avenue
Secondary Name	Corporation
In Care of Name	Webb And Brooker Inc
Address	2534 Adam Clayton Powell Blvd, New York, NY 10039
Activities	Low income housing
Subsection	Charitable Organization
Ruling Date	07/1990
Deductibility	Contributions are deductible
Foundation	Organization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2003
Assets	$1,000,000 to $4,999,999
Income	$1,000,000 to $4,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$4,520,997
Amount of Income	$2,000,430
Form 990 Revenue Amount	$1,860,361
National Taxonomy of Exempt Entities (NTEE)	Housing, Shelter: Public Housing Facilities

Non-representatives - add comments:

Amount of income in 2003: $2,000,430

St Philips On Convent Avenue, Corporation:	$2,000,430
Other organizations performing similar types of work:	$830,011

Assets in 2003: $4,520,997

St Philips On Convent Avenue, Corporation:	$4,520,997
Other organizations performing similar types of work:	$2,556,923

Expenses in 2003: $2,074,336

St Philips On Convent Avenue, Corporation:	$2,074,336
Other organizations performing similar types of work:	$814,088

Income to expenses ratio in 2003: 0.9

St Philips On Convent Avenue, Corporation:	0.9
Other organizations performing similar types of work:	1.0

Expenses allocated to program services in 2003: 90.0%

St Philips On Convent Avenue, Corporation:	90.0%
Other organizations performing similar types of work:	91.0%

Employees paid over $50,000 in 2003: 25.0%

This organization:	25.0%
Other organizations performing similar types of work:	0.0%

Grants share in income in 2003: 0.0%

St Philips On Convent Avenue, Corporation:	0.0%
Other organizations performing similar types of work:	0.2%

Financial snapshot ($)

Revenue for 2003

Assets at end of 2003

Expenses for 2003

Functional Expenses for 2003 ($)

Income-Producing Activities for 2003

	2000	2001	2002	2003
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$1,876,291	$1,908,336	$1,860,361	$1,860,585
Contributions, gifts, grants, and similar amounts received	$0	$0	$0	$0
Contributions to donor advised funds
Direct public support	$0	$0	$0	$0
Indirect public support	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0
Program service revenue including government fees and contracts	$0	$0	$0	$1,632,986
Membership dues and assessments	$0	$0	$0	$0
Interest on savings and temporary cash investments	$2,629	$2,599	$1,729	$1,207
Dividends and interest from securities	$0	$0	$0	$0
Net rental income or (loss)	$1,867,627	$1,896,795	$1,852,889	$220,253
Gross rents	$1,915,361	$1,956,939	$1,992,958	$393,052
Less: rental expenses	$47,734	$60,144	$140,069	$172,799
Other investment income	$0	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$0	$0	$0	$0
Less: cost or other basis and sales expenses	$0	$0	$0	$0
Net income or (loss) from special events and activities	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0
Other revenue	$6,035	$8,942	$5,743	$6,139
Total expenses	$1,760,086	$1,819,054	$2,101,676	$2,074,336
Program services	$1,584,075	$1,637,151	$1,891,507	$1,866,902
Management and general	$176,011	$181,903	$210,169	$207,434
Fundraising	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0
Net assets or fund balances at end of year	$-2,306,820	$-2,217,538	$-2,458,853	$-2,672,604
Excess or (deficit) for the year	$116,205	$89,282	$-241,315	$-213,751
Net assets or fund balances at beginning of year	$-2,423,025	$-2,306,820	$-2,217,538	$-2,458,853
Other changes in net assets or fund balances	$0	$0	$0	$0

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2003)
Total functional expenses	$2,074,336	$1,866,902	$207,434	$0
Grants paid from donor advised funds
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above	$163,411	$147,070	$16,341	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$31,946	$28,751	$3,195	$0
Payroll taxes	$8,949	$8,054	$895	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$11,583	$10,425	$1,158	$0
Legal fees	$48,998	$44,098	$4,900	$0
Supplies	$9,196	$8,276	$920	$0
Telephone	$7,256	$6,530	$726	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$271,570	$224,413	$47,157	$0
Equipment rental and maintenance	$172,187	$154,968	$17,219	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$624,347	$561,912	$62,435	$0
Depreciation, depletion, etc.	$223,098	$200,788	$22,310	$0
Other expenses not covered above	$501,795	$471,617	$30,178	$0

	2000	2001	2002	2003
Balance Sheets
Total assets	$4,934,672	$4,809,340	$4,520,997	$4,287,903
Cash - non-interest-bearing	$28,173	$67,288	$48,522	$13,431
Savings and temporary cash investments	$0	$0	$0	$0
Accounts receivable less allowance for doubtful accounts	$15,357	$27,927	$29,859	$34,075
Pledges receivable less allowance for doubtful accounts	$0	$0	$0	$0
Grants receivable	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0
Inventories for sale or use	$0	$0	$0	$0
Prepaid expenses and deferred charges	$225,886	$229,897	$141,129	$144,823
Investments - publicly-traded securities
Investments - other securities	$0	$0	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$3,862,833
Investments - other	$0	$14,348	$14,404	$14,451
Land, buildings, and equipment less accumulated depreciation	$4,505,190	$4,284,464	$4,065,905	$0
Other assets, including program-related investments	$160,066	$185,416	$221,178	$218,290
Total liabilities	$7,241,492	$7,026,878	$6,979,850	$6,960,507
Accounts payable and accrued expenses	$216,542	$71,893	$103,130	$164,197
Grants payable	$0	$0	$0	$0
Deferred revenue	$0	$700	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0
Tax-exempt bond liabilities	$0	$0	$0	$0
Mortgages and other notes payable	$7,007,000	$6,935,150	$6,856,364	$6,770,009
Other liabilities	$17,950	$19,135	$20,356	$26,301
Total liabilities and net assets/fund balances	$4,934,672	$4,809,340	$4,520,997	$4,287,903
Total net assets or fund balances	$-2,306,820	$-2,217,538	$-2,458,853	$-2,672,604

	2000	2001	2002	2003
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$1,876,291	$1,908,336	$1,860,361	$1,860,585
Total revenue, gains, and other support per audited financial statements	$1,876,291	$1,908,336	$1,860,361	$1,860,585
Other expenses	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

	2000	2001	2002	2003
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$1,760,086	$1,819,054	$2,101,676	$2,074,336
Total expenses and losses per audited financial statements	$1,760,086	$1,819,054	$2,101,676	$2,074,336
Other revenue	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0
Losses	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006	4

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2003)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$1,207	$1,859,378
Program service revenue
Program service revenue 1	000000	$0	00	$0	$0
Program service revenue 2	000000	$0	00	$0	$0
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$1,632,986
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,207	$0
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$220,253
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$6,139

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2003)
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2003)
$53,478	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2003)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Organization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees

	1999	2000	2001	2002
Support Schedule
Total	$1,920,951	$1,876,291	$1,908,336	$2,000,430
Gifts, grants, and contributions received	$0	$0	$0	$0
Membership fees received	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$1,914,589	$1,867,627	$1,896,795	$1,992,958
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$2,331	$2,629	$2,599	$1,729
Net income from unrelated business activities not included above	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0
Other income	$4,031	$6,035	$8,942	$5,743

Lobbying Expenditures by Electing Public Charities (for 2003)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Corporation For Supportive Housing	61 Broadway 23rd Floor, New York, NY 10006-2701	NY	1991-04	$44,479,384
2	First Chinese Presbyterian Community Affairs Home Attendant C	30 Broad Street, New York, NY 10004-2304	NY	1990-03	$40,514,049
3	Housing Visions Unlimited Inc, Group Return	1201 E Fayette St Ste 26, Syracuse, NY 13210-1989	NY	1992-08	$19,330,511
4	Doe Fund Inc	232 E 84th St, New York, NY 10028-2902	NY	1988-02	$12,772,178
5	Pathstone Corporation, Group Return Pathstone Housing Acti	400 East Ave, Rochester, NY 14607-1910	NY	1982-09	$11,613,758
6	Prince George S Affordable Housing Inc	112 East 42nd Street No 3605, New York, NY 10168	NY	1998-10	$8,922,399
7	Highbridge Community Housing Development Fund Corporation	1465 Nelson Dr, Bronx, NY 10452-1758	NY	1989-07	$8,264,599
8	Cau Cedars Inc	122 E 42nd St Rm 3605, New York, NY 10168-3620	NY	1996-04	$6,470,067
9	St Margarets House Housing Development Fund Corporation	49 Fulton Street, New York, NY 10038-1836	NY	2001-08	$5,501,158
10	Faces Ny Inc	123 West 115th Street, New York, NY 10026-2948	NY	1989-10	$3,887,033
11	St Marks Towers Inc	One Towers Plaza, Brunswick, GA 31520-4461	GA	1979-12	$1,569,853
12	Woodstock Manor Housing Development Fund Corporation	755 Palisade Avenue, Yonkers, NY 10703-1800	NY	1985-01	$8,184,759
13	Tg 110 Inc	8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397	TX	2002-11	$3,238,697
14	Progressive Baptist Church Housing Foundation Inc, T E Brown Apartments	3601 South Wells, Chicago, IL 60609-1867	IL	1979-08	$1,957,825
15	St George Tower Ltd	2160 E Maple Rd, Troy, MI 48083-4400	MI	1979-02	$1,701,039
16	Sebco Housing Development Fund, Ian Resnick - Controller	885 Bruckner Blvd, Bronx, NY 10459-5201	NY	1983-11	$1,427,261
17	Saratoga County Rural Preservation Company Inc	Company Inc 1214 Saratoga Rd Rt 50, Ballston Spa, NY 12020	NY	1983-08	$1,310,983
18	Two Hundred Seventy-Two To Two Hundred Eighty Linwood Avenue Inc	276 Linwood Ave, Buffalo, NY 14209-1838	NY	1976-02	$1,111,823
19	Thea Bowman F S P A Housing Development Fund Company Inc	90 Cherry Ln, Hicksville, NY 11801-6232	NY	1994-07	$414,667
20	Volunteers Of America Inc, Union Apartment Project Inc	340 West 85th St Room 304, New York, NY 10024-6265	NY	1965-05	$0

Number of organizations performing similar types of work

Alaska	2
Alabama	6
Arkansas	3
Arizona	12
California	98
Colorado	15
Connecticut	8
District of Columbia	5
Delaware	2
Florida	33
Georgia	20
Hawaii	13
Iowa	10
Idaho	3
Illinois	33
Indiana	7
Kansas	4
Kentucky	4
Louisiana	12
Massachusetts	22
Maryland	8
Maine	7
Michigan	22
Minnesota	19
Missouri	16
Mississippi	5

Montana	3
North Carolina	12
North Dakota	2
Nebraska	3
New Hampshire	1
New Jersey	23
New Mexico	6
Nevada	1
New York	76
Ohio	46
Oklahoma	2
Oregon	9
Pennsylvania	46
Rhode Island	4
South Carolina	4
South Dakota	4
Tennessee	10
Texas	36
Utah	1
Virginia	26
Vermont	5
Washington	11
Wisconsin	12
West Virginia	1
Wyoming	1
International	3

Total

737

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