William L Chisolm Housing Development Fund Corp, Messer Gregory Ttee in Brooklyn, New York (NY)

William L Chisolm Housing Development Fund Corp, Messer Gregory Ttee
Employer Identification Number (EIN)	061305873
Name of Organization	William L Chisolm Housing Development Fund Corp
Secondary Name	Messer Gregory Ttee
In Care of Name	Abdur Rahman Farrakhan
Address	26 Court St, Brooklyn, NY 11242-0103
Activities	Low income housing
Subsection	Charitable Organization
Ruling Date	03/1991
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	12/2004
Assets	$10,000,000 to $49,999,999
Income	$1,000,000 to $4,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$16,981,858
Amount of Income	$2,280,768
Form 990 Revenue Amount	$2,280,768
National Taxonomy of Exempt Entities (NTEE)	Housing, Shelter: Housing Development, Construction, Management

Non-representatives - add comments:

Amount of income in 2004: $2,280,768

This organization:	$2,280,768
Other organizations performing similar types of work:	$345,298

Assets in 2004: $16,981,858

This organization:	$16,981,858
Other organizations performing similar types of work:	$1,142,570

Expenses in 2004: $3,480,777

William L Chisolm Housing Development Fund Corp, Messer Gregory Ttee:	$3,480,777
Other organizations performing similar types of work:	$349,008

Income to expenses ratio in 2004: 0.7

This organization:	0.7
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2004: 98.0%

This organization:	98.0%
Other organizations performing similar types of work:	86.1%

Number of employees in 2004: 25

This organization:	25
Other organizations performing similar types of work:	1

Employees paid over $50,000 in 2004: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	2.7%

Grants share in income in 2004: 0.0%

William L Chisolm Housing Development Fund Corp, Messer Gregory Ttee:	0.0%
Other organizations performing similar types of work:	47.4%

Financial snapshot ($)

Revenue for 2004

Assets at end of 2004

Expenses for 2004

Functional Expenses for 2004 ($)

Income-Producing Activities for 2004

	2003	2004
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$2,471,617	$2,280,768
Contributions, gifts, grants, and similar amounts received	$0	$0
Contributions to donor advised funds
Direct public support	$0	$0
Indirect public support	$0	$0
Government contributions (grants)	$0	$0
Program service revenue including government fees and contracts	$940,317	$789,824
Membership dues and assessments	$0	$0
Interest on savings and temporary cash investments	$0	$0
Dividends and interest from securities	$508	$589
Net rental income or (loss)	$1,530,792	$1,490,355
Gross rents	$1,530,792	$1,490,355
Less: rental expenses	$0	$0
Other investment income	$0	$0
Gain or (loss) from sales of assets other than inventory	$0	$0
Gross amount from sales of assets other than inventory	$0	$0
Less: cost or other basis and sales expenses	$0	$0
Net income or (loss) from special events and activities	$0	$0
Gross revenue	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0
Less: cost of goods sold	$0	$0
Other revenue	$0	$0
Total expenses	$3,707,767	$3,480,777
Program services	$3,649,295	$3,412,828
Management and general	$58,472	$67,949
Fundraising	$0	$0
Payments to affiliates	$0	$0
Net assets or fund balances at end of year	$1,969,310	$1,246,877
Excess or (deficit) for the year	$-1,236,150	$-1,200,009
Net assets or fund balances at beginning of year	$2,660,634	$1,969,310
Other changes in net assets or fund balances	$544,826	$477,576

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2004)
Total functional expenses	$3,480,777	$3,412,828	$67,949	$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	$458,460	$412,614	$45,846	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$53,803	$48,423	$5,380	$0
Payroll taxes	$35,317	$31,785	$3,532	$0
Professional fundraising fees	$27,710	$24,939	$2,771	$0
Accounting fees	$8,000	$7,200	$800	$0
Legal fees	$51,186	$46,067	$5,119	$0
Supplies	$35,055	$31,550	$3,505	$0
Telephone	$9,956	$8,960	$996	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$888,735	$888,735	$0	$0
Equipment rental and maintenance	$0	$0	$0	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$470,617	$470,617	$0	$0
Depreciation, depletion, etc.	$627,797	$627,797	$0	$0
Other expenses not covered above	$814,141	$814,141	$0	$0

	2003	2004
Balance Sheets
Total assets	$17,593,901	$16,981,858
Cash - non-interest-bearing	$30,259	$18,180
Savings and temporary cash investments	$0	$0
Accounts receivable less allowance for doubtful accounts	$303,776	$254,003
Pledges receivable less allowance for doubtful accounts	$0	$0
Grants receivable	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$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
Inventories for sale or use	$0	$0
Prepaid expenses and deferred charges	$43,886	$24,374
Investments - publicly-traded securities
Investments - other securities	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0
Investments - other	$0	$0
Land, buildings, and equipment less accumulated depreciation	$15,551,165	$14,932,956
Other assets, including program-related investments	$1,664,815	$1,752,345
Total liabilities	$15,624,591	$15,734,981
Accounts payable and accrued expenses	$207,990	$143,803
Grants payable	$0	$0
Deferred revenue	$144,281	$29,699
Loans from officers, directors, trustees, and key employees	$0	$0
Tax-exempt bond liabilities	$0	$0
Mortgages and other notes payable	$12,364,949	$11,820,123
Other liabilities	$2,907,371	$3,741,356
Total liabilities and net assets/fund balances	$17,593,901	$16,981,858
Total net assets or fund balances	$1,969,310	$1,246,877

	2003	2004
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$2,471,617	$2,280,768
Total revenue, gains, and other support per audited financial statements	$2,471,617	$2,280,768
Other expenses	$0	$0
Net unrealized gains on investments	$0	$0
Donated services and use of facilities	$0	$0
Recoveries of prior year grants	$0	$0
Other	$0	$0
Other revenue	$0	$0
Investment expenses	$0	$0
Other	$0	$0

	2003	2004
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$3,707,767	$3,480,777
Total expenses and losses per audited financial statements	$3,707,767	$3,480,777
Other revenue	$0	$0
Donated services and use of facilities	$0	$0
Prior year adjustments	$0	$0
Losses	$0	$0
Other	$0	$0
Other expenses	$0	$0
Investment expenses	$0	$0
Other	$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?	No
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	25

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2004)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$589	$2,280,179
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	$789,824
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	00	$0	$0
Dividends and interest from securities	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)	$589	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$1,490,355
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	$0

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 2004)
	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 2004)
$0	$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 2004)
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 receives a substantial part of its support from a governmental unit or from the general public

	2002	2003
Support Schedule
Total	$2,427,776	$2,471,617
Gifts, grants, and contributions received	$2,427,776	$2,471,617
Membership fees received	$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	$0	$0
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	$0	$0
Net income from unrelated business activities not included above	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$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
Other income	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2004)
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	Settlement Housing Fund Inc	247 W 37th St Fl 4, New York, NY 10018-5709	NY	1971-03	$8,600,122
2	Westbeth Corp Housing Development Fund Company Inc	463 West Street, New York, NY 10014-2010	NY	1968-06	$6,593,866
3	West End Residences Hdfc Inc	Suite 740, New York, NY 10115	NY	1997-08	$2,976,875
4	Sunset Park Redevelopment Committee Inc	5101 4th Ave 2nd Floor, Brooklyn, NY 11220-1815	NY	1975-06	$2,628,664
5	Virginia-Michigan Housing Develop Ment Fund Company Inc	865 Michigan Ave, Buffalo, NY 14203-1236	NY	1981-04	$1,679,251
6	Walton Avenue Senior Housing Development Fund Company Inc	900 Grand Concourse, Bronx, NY 10451-2746	NY	1994-08	$1,408,465
7	Parkside Housing Development Fund Company Inc	160 Heberton Ave, Staten Island, NY 10302	NY	1994-05	$1,192,781
8	Somaltow Housing Company Inc	101 S Pearl Street, Albany, NY 12207-1419	NY	1971-07	$1,156,737
9	Westbourne Housing Development Fund Company Inc	2345 Broadway, New York, NY 10024	NY	1994-08	$1,047,889
10	Wallkill Housing Development Co Of Carpenters & Joiners Local 964 Inc	4 Executive Blvd, Suffern, NY 10901-4173	NY	1986-01	$807,757
11	Ryer Avenue Housing Development Fund Corp	2386 Ryer Ave, Bronx, NY 10458-7004	NY	1991-09	$807,751
12	Support Ministries For Persons With Aids Inc	28 Delaware Ter, Albany, NY 12209-1711	NY	1989-03	$779,430
13	Royal Gardens Housing Development Fund Corporation	990 James Street, Syracuse, NY 13203-2879	NY	1991-07	$713,675
14	United Odd Fellows Housing Development Fund Company	1072 Havemeyer Ave, Bronx, NY 10462-5310	NY	1994-01	$664,556
15	South Bronx Access Housing Development Fund Corporation	2415 Westchester Ave, Bronx, NY 10461-3538	NY	1992-08	$615,847
16	South Jefferson Housing Development Fund Co Inc, Country View Apts	990 James Street, Syracuse, NY 13203-2879	NY	1981-09	$501,095
17	Yw-Wny Housing Development Fund Company Inc	1005 Grant Street, Buffalo, NY 14207-2877	NY	1996-05	$480,368
18	Southern Hills Preservation Corporation Inc	2383 Us Route 11 Stop 1, La Fayette, NY 13084-9300	NY	1987-03	$458,082
19	Western New York Veterans Housing Coalition Inc, W Ny Veterans Housing	1416 Main Street, Buffalo, NY 14209-1740	NY	1988-06	$457,211
20	Taylor Brown Housing Development Fund Company Inc	990 James Street, Syracuse, NY 13203-2879	NY	1987-08	$432,802

Number of organizations performing similar types of work

Alaska	3
Alabama	27
Arkansas	23
Arizona	22
California	194
Colorado	34
Connecticut	23
District of Columbia	15
Delaware	3
Florida	79
Georgia	43
Hawaii	13
Iowa	16
Idaho	3
Illinois	81
Indiana	43
Kansas	14
Kentucky	55
Louisiana	27
Massachusetts	79
Maryland	44
Maine	14
Michigan	67
Minnesota	45
Missouri	35
Mississippi	12

Montana	4
North Carolina	87
North Dakota	3
Nebraska	26
New Hampshire	10
New Jersey	59
New Mexico	9
Nevada	3
New York	185
Ohio	109
Oklahoma	13
Oregon	11
Pennsylvania	102
Rhode Island	14
South Carolina	35
South Dakota	10
Tennessee	37
Texas	109
Utah	6
Virginia	51
Vermont	10
Washington	26
Wisconsin	42
West Virginia	10
Wyoming	4
International	6

Total

1,995

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