Council Towers I Housing Development CORPORATION c/o met council

Address
77 Water Street 7th Floor
New York, NY 10005
Contact
Website: http://www.metcouncil.org
Phone: +1 (212) 453-9500
Nonprofit
NTEE: L22 - Senior Citizens' Housing/Retirement Communities
EIN: 13-3741272

Mission

TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.
 20162015201420132012
Basic features of the organization
Year of formation1993
Subsection code03
PF filing required0    
Metropolitan statistical area5602
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Sum of reportable (W2/1099) compensation$0.00$0.00$0.00$0.00$0.00
Number of employees00005
Number of people compensated >$100k00000
Number of volunteers00000
Number of highly compensated contractors0000 
Personnel
Biderman, Abraham
TitledirectordirectorDIRECTORDIRECTORPRESIDENT
Name of key/compensated personabraham bidermanabraham bidermanABRAHAM BIDERMANABRAHAM BIDERMANABRAHAM BIDERMAN
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officer TrueTrueTrueTrue
Average hours per week working for org0.100.101.001.000.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs18.9018.9025.0028.00 
Brest, Peter
Title    CHIEF OPERATING OFFICER
Name of key/compensated person    PETER BREST
Position of compensated person
Current officer    True
Average hours per week working for org    35.00
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $33,948.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $178,371.00
Feldhammer, Gerald
TitleDirectorDirector   
Name of key/compensated personGerald E FeldhammerGerald E Feldhammer   
Position of compensated person
Current individual trustee or directorTrueTrue   
Current officer True   
Average hours per week working for org0.100.10   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs1.901.90   
Frankel, David
TitleOUTGOING SECRETARY/CEOOUTGOING secretary/ceoSECRETARY/CEOSECRETARY/CEO 
Name of key/compensated personDAVID M FRANKELdavid m frankelDAVID M FRANKELDAVID M FRANKEL 
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officerTrueTrueTrueTrue 
Average hours per week working for org0.100.101.001.00 
Reportable compensation from org$0.00$0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs$247.00$8,553.00$0.00$133.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $8,272.00$532,470.00$514,042.00$108,686.00 
Average hours per week working for related orgs46.9046.9049.0040.00 
Locurto, Matthew
Titlecfo    
Name of key/compensated personMatthew Locurto    
Position of compensated person
Current officerTrue    
Average hours per week working for org0.10    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$32,505.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $198,929.00    
Average hours per week working for related orgs46.90    
Lopata, Benjamin
TitletreasurertreasurerTREASURERTREASURERDIRECTOR
Name of key/compensated personbenjamin lopatabenjamin lopataBENJAMIN LOPATABENJAMIN LOPATABENJAMIN LOPATA
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrueTrue 
Average hours per week working for org0.100.101.001.000.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs21.9021.9031.0030.00 
Lubinsky, Menachem
TitlePRESIDENTPRESIDENTPRESIDENTPRESIDENT 
Name of key/compensated personMENACHEM LUBINSKYMENACHEM LUBINSKYMENACHEM LUBINSKYMENACHEM LUBINSKY 
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officerTrueTrueTrueTrue 
Average hours per week working for org0.100.101.001.00 
Reportable compensation from org$0.00$0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00 
Average hours per week working for related orgs6.906.906.0013.00 
Rapfogel, William
Title   SECRETARYEXECUTIVE DIRECTOR
Name of key/compensated person   WILLIAM E RAPFOGELWILLIAM RAPFOGEL
Position of compensated person
Current individual trustee or director   True 
Current officer   TrueTrue
Average hours per week working for org   1.0035.00
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $13,490.00$101,741.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $244,209.00$373,675.00
Average hours per week working for related orgs   39.00 
Rush, George
TitleOutgoing contracted CFOCONTRACTED CFO   
Name of key/compensated personGeorge RushGEORGE RUSH   
Position of compensated person
Current officerTrueTrue   
Average hours per week working for org0.100.10   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs29.9029.90   
Scheinberg, Stacey
TitleDirectorDirector   
Name of key/compensated personStacey ScheinbergStacey Scheinberg   
Position of compensated person
Current individual trustee or directorTrueTrue   
Current officer True   
Average hours per week working for org0.100.10   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs1.901.90   
Schoor, Alan
TitleCEOCEO   
Name of key/compensated personAlan SchoorAlan Schoor   
Position of compensated person
Current officerTrueTrue   
Average hours per week working for org0.100.10   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$53,255.00$18,883.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $283,465.00$180,839.00   
Average hours per week working for related orgs46.9046.90   
Weiner, Scott
TitleDirectorDirector   
Name of key/compensated personScott WeinerScott Weiner   
Position of compensated person
Current individual trustee or directorTrueTrue   
Current officer True   
Average hours per week working for org0.100.10   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs2.902.90   
Wolinsky, Steven
Title    FORMER CFO
Name of key/compensated person    STEVEN B WOLINSKY
Position of compensated person
Average hours per week working for org    35.00
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $24,719.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $161,009.00
Zachter, Melvin
Title  CFOCFOCHIEF FINANCIAL OFFICER
Name of key/compensated person  MELVIN ZACHTERMELVIN ZACHTERMELVIN ZACHTER
Position of compensated person
Current officer  TrueTrueTrue
Average hours per week working for org  1.001.000.00
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs  $12,356.00$4,008.00$54.00
Corresponding comp from related orgs
Reportable compensation from related orgs   $302,256.00$310,751.00$40,984.00
Average hours per week working for related orgs  49.0040.00 
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS.TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS.TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS.TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS.TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS
Program service expenses, total$1,602,122.00$1,556,095.00$1,687,804.00$1,415,149.00$1,297,066.00
Programs, including revenue & expenses
TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.
Program expenses$1,602,122.00$1,556,095.00$1,687,804.00$1,415,149.00$1,297,066.00
Program revenue$1,303,189.00$1,302,936.00$1,264,148.00$716,506.00$719,510.00
Program descriptionTO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS.TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS AND LOW INCOME INDIVIDUALS
Financial data
Revenue
Total revenue$1,304,266.00$1,307,438.00$1,265,258.00$718,094.00$721,753.00
Revenue from contributions (total) $0.00 $0.00$0.00
Investment income, current yr$1,077.00$1,397.00$1,110.00$1,588.00$2,243.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$3,105.00$3,105.00$3,105.00$3,105.00$6,134.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)$1,300,084.00$1,302,936.00$1,261,043.00$713,401.00$713,376.00
Gross receipts$1,304,266.00$1,307,438.00$1,265,258.00$718,094.00$721,753.00
Other types of revenue
Miscellaneous revenue (total)$3,105.00$3,105.00$3,105.00$3,105.00$6,134.00
Income from dividends, interest, and similar investments$1,077.00$1,397.00$1,110.00$1,588.00$2,243.00
Net rental income $0.00 $0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$1,618,172.00$1,571,535.00$1,703,224.00$1,429,649.00$1,404,989.00
Total functional expenses: program service $1,602,122.00$1,556,095.00$1,687,804.00$1,415,149.00$1,297,066.00
Total functional expenses: management and general$16,050.00$15,440.00$15,420.00$14,500.00$107,923.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Legal fees (total)$12,376.00$10,632.00$3,652.00$3,210.00$3,750.00
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
General management fees (total)$406,897.00$312,965.00$504,230.00$88,933.00$88,923.00
Assets and liabilities
Total assets$4,452,769.00$5,307,109.00$5,309,614.00$5,640,420.00$6,258,765.00
Total assets, beginning of year$5,307,109.00$5,309,614.00$5,640,420.00$6,258,765.00$6,802,144.00
Total liabilities$12,237,028.00$12,777,462.00$12,515,870.00$12,408,710.00$12,315,500.00
Total liabilities, beginning of year$12,777,462.00$12,515,870.00$12,408,710.00$12,315,500.00$12,175,643.00
Unrestricted net assets, end of yr-$7,784,259.00-$7,470,353.00-$7,206,256.00-$6,768,290.00-$6,056,735.00
Net assets-$7,784,259.00-$7,470,353.00-$7,206,256.00-$6,768,290.00-$6,056,735.00
Net assets, beginning of year-$7,470,353.00-$7,206,256.00-$6,768,290.00-$6,056,735.00-$5,373,499.00
Other liabilities$29,308.00$27,847.00$28,309.00$28,661.00$170,905.00
Other assets$511,668.00$571,595.00$470,987.00$435,837.00$599,491.00
Cash: non-interest bearing$525.00$525.00 $25,180.00$22,034.00
Cash: non-interest bearing, beginning of year$525.00  $22,034.00$65,196.00
Other financial variables
Revenue less expenses-$313,906.00-$264,097.00-$437,966.00-$711,555.00-$683,236.00
Savings & temp cash investment$118,328.00$520,413.00$148,614.00  
Accounts receivable, net$8,447.00$11,423.00$6,466.00$13,912.00$7,702.00
Prepaid expenses & deferred charges$99,544.00$25,488.00$27,229.00$28,179.00$24,982.00
Accounts payable & accrued expenses$167,209.00$704,160.00$446,212.00$338,792.00$104,342.00
Deferred revenue$2,197.00$7,141.00$3,035.00$2,943.00$1,939.00
Secured mortgages and notes payable$12,038,314.00$12,038,314.00$12,038,314.00$12,038,314.00$12,038,314.00
Total net assets or fund balances-$7,784,259.00-$7,470,353.00-$7,206,256.00-$6,768,290.00-$6,056,735.00
Depreciation, depletion, amortization$480,103.00$480,052.00$480,994.00$480,919.00$480,437.00
Governance and accountability
Number of voting members66445
Number of independent voting members66332
Financial sheets auditedTrueTrueTrueTrueTrue
Audited on both consolidated and separate basisTrueTrueTrueTrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2016-01-012015-01-012014-01-012013-01-012012-01-01
Tax year end date2016-12-012015-12-012014-12-012013-12-012012-12-01
Indicators for schedules (selected)
Org has controlled entity   TrueTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Reason for form submission
Address changeTrue    
Date e-filing submitted2017-11-292017-03-292016-02-232014-10-202014-01-06
IRS schema version2016v3.02015v2.12014v5.02013v3.02012v2.1
Filing identifier201732989349301423201613209349313636201523349349300007201402249349300140201323199349304467
Use these data in your project Benchmark this organization against its peers