THE JOINT OWNERSHIP ENTITY NEW YORK CITY CORP

Address
588 Broadway No 1208
NEW YORK, NY 10012
Contact
Website: http://www.joenyc.org
Phone: +1 (646) 768-4100
Nonprofit
EIN: 47-5044823
Year formed: 2015

Mission

The primary purposes of JOE NYC are to strengthen its Members' ability to develop, maintain, and manage affordable housing and serve as a vehicle to maintain long-term affordability of existing and future affordable housing units in support of their missions as community-based organizations that align their housing development and management work with the needs and resources of the communities served and focus on resident services and support.
 2016
Basic features of the organization
Year of formation2015
Subsection code03
PF filing required0
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$66,380.00
Sum of reportable (W2/1099) compensation$60,053.00
Number of employees1
Number of people compensated >$100k0
Number of volunteers10
Number of highly compensated contractors0
Personnel
Berthoud, Janice
Titledirector
Name of key/compensated personJanice Berthoud
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Derienzo, Harry
TitleSecretary
Name of key/compensated personHarry Derienzo
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Madden, Peter
TitleExecutive Director
Name of key/compensated personPeter Madden
Position of compensated person
Average hours per week working for org50.00
Reportable compensation from org$60,053.00
Other comp, non-reportable, from org and related orgs$6,159.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Rochford, Michael
TitleChair
Name of key/compensated personMichael Rochford
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Short, Scott
TitleDirector
Name of key/compensated personScott Short
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Specliotis, Isemene
TitleTreasurer
Name of key/compensated personIsemene specliotis
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Wray, Ken
TitleDirector
Name of key/compensated personKen Wray
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesThe primary purposes of JOE NYC are to strengthen its Members' ability to develop, maintain, and manage affordable housing and serve as a vehicle to maintain long-term affordability of existing and future affordable housing units in support of their missions as community-based organizations that align their housing development and management work with the needs and resources of the communities served and focus on resident services and support.
Program service expenses, total$953,195.00
Programs, including revenue & expenses
Organization start up: Develop governanace and financial structure for joint ownership and asset management entity.
Program expenses$553,195.00
Program descriptionOrganization start up: Develop governanace and financial structure for joint ownership and asset management entity.
Real estate asset management: Monitor income and expenses of real estate portfolio and identify expense reduction measures.
Program expenses$200,000.00
Program descriptionReal estate asset management: Monitor income and expenses of real estate portfolio and identify expense reduction measures.
Real estate portfolio development: Undertake process of transferring ownership interest of properties owned by community development corporations in the the Joint Ownership Entity; acquire properties through real estate acqusitions.
Program expenses$200,000.00
Program descriptionReal estate portfolio development: Undertake process of transferring ownership interest of properties owned by community development corporations in the the Joint Ownership Entity; acquire properties through real estate acqusitions.
Financial data
Revenue
Total revenue$1,691,409.00
Revenue from contributions (total)$1,695,000.00
Investment income, current yr-$3,591.00
Total revenue from grants, etc., current yr$1,695,000.00
Total unrelated business revenue$0.00
Other revenue, current yr$0.00
Net unrelated business taxable revenue$0.00
Gross receipts$1,695,000.00
Sources of contributions
Revenue from all other contributions$1,695,000.00
Expense categories (totals)
Total functional expenses: sum of all$981,945.00
Total functional expenses: program service $953,195.00
Total functional expenses: management and general$28,750.00
Total functional expenses: fundraising$0.00
Fees for services
Legal fees (total)$435,150.00
Fundraising service fees (total)$0.00
Assets and liabilities
Total assets$1,211,290.00
Total liabilities$501,826.00
Pledges & accounts receivable, net$400,000.00
Unrestricted net assets, end of yr$709,464.00
Net assets$709,464.00
Cash: non-interest bearing$807,381.00
Investments -- program-related-$3,591.00
Other financial variables
Revenue less expenses$709,464.00
Prepaid expenses & deferred charges$7,500.00
Accounts payable & accrued expenses$74,826.00
Deferred revenue$427,000.00
Total net assets or fund balances$709,464.00
Governance and accountability
Number of voting members6
Number of independent voting members6
Accrual accountingTrue
Tax year start date2016-01-01
Tax year end date2016-12-01
Indicators for schedules (selected)
Business transaction with entity ownerTrue
Org has controlled entityTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990
Reason for form submission
Address changeTrue
First filingTrue
Date e-filing submitted2018-01-08
IRS schema version2016v3.0
Filing identifier201743199349317684
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