H S C No 5 Housing Development Fund Co Inc

Greenlawn, NY
Tax-exempt since Sept. 2002
EIN: 01-0698010

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Housing, Shelter / Senior Citizens' Housing/Retirement Communities (NTEE)

Donations to this organization are tax deductible.

Revenue

$718k (2024)

Expenses

$1.04M (2024)

Total Assets

$5.16M (2024)

Total Liabilities

$9.38M (2024)

Source: Form 990 tax filings from 2012 to 2024

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending July
2024

Revenue

$717,905

Expenses

$1,043,216

Net Income

-$325,311

Net Assets

-$4,220,133

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$716,577	99.8%
Investment Income	$1,328	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$148,485	14.2%

Assets/Debt
Total Assets	$5,160,506
Total Liabilities	$9,380,639
Net Assets	-$4,220,133

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$217,274	$0
William Davidson (President)	$0	$253,116	$0
Lawrence Cregan (Director)	$0	$156,266	$0
Janice Dalessio (Director)	$0	$54,162	$0
Jeffrey Hartman (Director)	$0	$117,864	$0
John Zanfino (Director)	$0	$54,162	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Nov. 14, 2024

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2023

Revenue

$756,681

Expenses

$1,040,625

Net Income

-$283,944

Net Assets

-$3,894,822

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$144,738	19.1%
Program Services	$611,906	80.9%
Investment Income	$37	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$143,235	13.8%

Assets/Debt
Total Assets	$5,481,229
Total Liabilities	$9,376,051
Net Assets	-$3,894,822

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$201,140	$0
William Davidson (President)	$0	$232,380	$0
Lawrence Cregan (Director)	$0	$143,690	$0
Janice Dalessio (Director)	$0	$49,756	$0
Jeffrey Hartman (Director)	$0	$109,376	$0
John Zanfino (Director)	$0	$50,326	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Nov. 27, 2023

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2022

Revenue

$951,248

Expenses

$968,039

Net Income

-$16,791

Net Assets

-$3,610,878

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$349,151	36.7%
Program Services	$602,035	63.3%
Investment Income	$62	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$133,461	13.8%

Assets/Debt
Total Assets	$5,757,814
Total Liabilities	$9,368,692
Net Assets	-$3,610,878

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$200,007	$0
William Davidson (President)	$0	$230,771	$0
Lawrence Cregan (Director)	$0	$142,913	$0
Janice Dalessio (Director)	$0	$44,281	$0
Jeffrey Hartman (Director)	$0	$95,951	$0
John Zanfino (Director)	$0	$36,500	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Dec. 6, 2022

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2021

Revenue

$741,958

Expenses

$883,517

Net Income

-$141,559

Net Assets

-$3,594,087

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$152,000	20.5%
Program Services	$589,842	79.5%
Investment Income	$116	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$120,526	13.6%

Assets/Debt
Total Assets	$5,816,026
Total Liabilities	$9,410,113
Net Assets	-$3,594,087

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,400	$198,458	$0
William Davidson (President)	$0	$225,251	$0
Lawrence Cregan (Director)	$0	$141,739	$0
Janice Dalessio (Director)	$0	$43,875	$0
Jeffrey Hartman (Director)	$0	$95,141	$0
John Zanfino (Director)	$0	$43,376	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Oct. 29, 2021

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2020

Revenue

$665,741

Expenses

$780,899

Net Income

-$115,158

Net Assets

-$3,452,528

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$140,695	21.1%
Program Services	$524,554	78.8%
Investment Income	$492	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$88,677	11.4%

Assets/Debt
Total Assets	$5,939,085
Total Liabilities	$9,391,613
Net Assets	-$3,452,528

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$191,021	$0
William Davidson (President)	$0	$214,000	$0
Lawrence Cregan (Director)	$0	$140,850	$0
Janice Dalessio (Director)	$0	$21,876	$0
Jeffrey Hartman (Director)	$0	$93,902	$0
John Zanfino (Director)	$0	$36,500	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Dec. 9, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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This audit found:

Material noncompliance

Fiscal Year Ending July
2019

Revenue

$501,972

Expenses

$780,384

Net Income

-$278,412

Net Assets

-$3,337,370

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$501,137	99.8%
Investment Income	$835	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$78,727	10.1%

Assets/Debt
Total Assets	$6,060,318
Total Liabilities	$9,397,688
Net Assets	-$3,337,370

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$168,909	$0
William Davidson (President)	$0	$214,000	$0
Lawrence Cregan (Director)	$0	$134,908	$0
Janice Dalessio (Director)	$0	$32,760	$0
Jeffrey Hartman (Director)	$0	$90,000	$0
John Zanfino (Director)	$0	$41,380	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Nov. 6, 2019

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2018

Revenue

$497,252

Expenses

$748,289

Net Income

-$251,037

Net Assets

-$3,058,958

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$496,741	99.9%
Investment Income	$511	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$72,217	9.7%

Assets/Debt
Total Assets	$6,342,533
Total Liabilities	$9,401,491
Net Assets	-$3,058,958

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Accountant)	$4,800	$175,399	$0
William Davidson (President)	$0	$193,500	$0
Lawrence Cregan (Director)	$0	$130,790	$0
Janice Dalessio (Director)	$0	$39,560	$0
Jeffrey Hartman (Director)	$0	$87,505	$0
John Zanfino (Director)	$0	$39,560	$0
Vincent Frigeria Iii (Director)	$0	$0	$0
Frank Tassone (Director)	$0	$0	$0

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990

Filed on Sept. 21, 2018

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2017

Revenue

$500,230

Expenses

$733,438

Net Income

-$233,208

Net Assets

-$2,807,921

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$498,926	99.7%
Investment Income	$1,304	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$62,336	8.5%

Assets/Debt
Total Assets	$6,826,551
Total Liabilities	$9,634,472
Net Assets	-$2,807,921

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Independent Accountant)	$4,800	$167,993	$0
William Davidson (President)	$0	$193,500	$0
Lawrence Cregan (Director)	$0	$129,508	$0
Janice Dalessio (Director)	$0	$37,815	$0
Jeffrey Hartman (Director)	$0	$82,930	$0
John Zanfino (Director)	$0	$37,815	$0
Vincent Frigeria Iii (Director)	$0	$0	$0

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990

Filed on Nov. 15, 2017

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Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2016

Revenue

$497,609

Expenses

$921,679

Net Income

-$424,070

Net Assets

-$2,574,713

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$496,786	99.8%
Investment Income	$823	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$66,892	7.3%

Assets/Debt
Total Assets	$6,996,334
Total Liabilities	$9,571,047
Net Assets	-$2,574,713

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Independent Accountant)	$4,800	$164,014	$0
William Davidson (President)	$0	$193,063	$0
Lawrence Cregan (Director)	$0	$131,763	$0
Janice Dalessio (Director)	$0	$37,959	$0
Jeffrey Hartman (Director)	$0	$83,537	$0
John Zanfino (Director)	$0	$37,959	$0
Vincent Frigeria Iii (Director)	$0	$0	$0

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990

Filed on Oct. 11, 2016

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Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending July
2015

Revenue

$499,287

Expenses

$743,526

Net Income

-$244,239

Net Assets

-$2,151,235

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$498,545	99.9%
Investment Income	$742	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$83,024	11.2%

Assets/Debt
Total Assets	$7,202,932
Total Liabilities	$9,354,167
Net Assets	-$2,151,235

Compensation

Key Employees and Officers	Compensation	Related	Other
Judy Farabaugh (Independent Accountant)	$4,800	$159,479	$0
William Davidson (President)	$0	$190,500	$0
Lawrence Cregan (Director)	$0	$130,218	$0
Janice Dalessio (Director)	$0	$37,144	$0
Jeffrey Hartman (Director)	$0	$72,099	$0
John Zanfino (Director)	$0	$37,144	$0
Andrew Casazza (Director)	$0	$0	$0
Vincent Frigeria Iii (Director)	$0	$0	$0

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990

Filed on Sept. 30, 2015

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Fiscal Year Ending July
2014

Revenue

$500,380

Expenses

$744,693

Net Income

-$244,313

Net Assets

-$1,906,996

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$499,675	99.9%
Investment Income	$705	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$93,640	12.6%

Assets/Debt
Total Assets	$7,449,298
Total Liabilities	$9,356,294
Net Assets	-$1,906,996

Compensation

Key Employees and Officers	Compensation	Related	Other
William Davidson (President)	$0	$193,500	$0
Lawrence Cregan (Director)	$0	$0	$0
Janice Dalessio (Director)	$0	$0	$0
Jeffrey Hartman (Director)	$0	$0	$0
John Zanfino (Director)	$0	$0	$0
Andrew Casazza (Director)	$0	$0	$0
Vincent Frigeria Iii (Director)	$0	$0	$0

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990

Filed on Nov. 13, 2014

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Fiscal Year Ending July
2013

Revenue

$497,366

Expenses

$713,361

Net Income

-$215,995

Net Assets

-$1,662,683

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$496,339	99.8%
Investment Income	$1,027	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$90,253	12.7%

Assets/Debt
Total Assets	$7,690,980
Total Liabilities	$9,353,663
Net Assets	-$1,662,683

990

Filed on Jan. 10, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending July
2012

Revenue

$495,731

Expenses

$697,340

Net Income

-$201,609

Net Assets

-$1,446,688

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$495,196	99.9%
Investment Income	$535	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$95,580	13.7%

Assets/Debt
Total Assets	$7,909,344
Total Liabilities	$9,356,032
Net Assets	-$1,446,688

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Types of Nonprofits

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H S C No 5 Housing Development Fund Co Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $718k (2024)

Expenses $1.04M (2024)

Total Assets $5.16M (2024)

Total Liabilities $9.38M (2024)

Tax Filings and Audits by Year

Fiscal Year Ending July 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending July 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending July 2014

Extracted Financial Data

Revenue

$718k (2024)

Expenses

$1.04M (2024)

Total Assets

$5.16M (2024)

Total Liabilities

$9.38M (2024)

Fiscal Year Ending July
2024

Fiscal Year Ending July
2023

Fiscal Year Ending July
2022

Fiscal Year Ending July
2021

Fiscal Year Ending July
2020

Fiscal Year Ending July
2019

Fiscal Year Ending July
2018

Fiscal Year Ending July
2017

Fiscal Year Ending July
2016

Fiscal Year Ending July
2015

Fiscal Year Ending July
2014

Fiscal Year Ending July
2013

Fiscal Year Ending July
2012

Fiscal Year Ending July
2011

Fiscal Year Ending July
2010

Fiscal Year Ending July
2009

Fiscal Year Ending July
2008

Fiscal Year Ending July
2007