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COUNCIL TOWERS III HDFC
NEW YORK, NY · EIN 133857947 · Form 990 · FY2024 · NTEE L200 · Housing & Shelter · Medium ($1M-$10M)
revenue
$2.0M
expenses
$2.4M
net assets
$-9.3M
employees
0
volunteers
3
program ratio
92%
mission · from form 990

TO PROVIDE SUBSIDIZED APARTMENT RENTALS FOR LOW INCOME SENIOR CITIZENS.

profile · synthesized from sources

COUNCIL TOWERS III HDFC is a housing organization in New York that provides subsidized apartment rentals for low-income senior citizens. The organization operates as a nonprofit housing development fund company (HDFC), offering affordable housing units to its target population. Its mission is focused exclusively on housing stability for elderly residents with limited income.

named programs · 1 · from sources

What they call their work

Subsidized Apartment Rentals
Provides long-term affordable housing units to low-income seniors through a HDFC ownership model, maintaining below-market rents and income-qualified tenancy.
activities · 1 group

What they do

  • Low-Income Senior Housing Operations 1 activity
    • Provides subsidized apartment rentals for low-income senior citizens
      Offers affordable housing units to low-income seniors through subsidized apartment rentals.
financials · form 990 · fy2024
revenue
Total revenue$2.02M
Contributions & grants$00%
Program service revenue$1.82M90%
Investment income$30K2%
Other revenue$167K
expenses
Total expenses$2.40M
Program expenses92%
Admin / overhead8%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$3.77M
Cash$344K
Investments$0
Liabilities$13.10M
Net assets$-9.32M
Liquid reserves1.7 mo
5 years on record · 2020–2024 · YoY revenue +9.1%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 4
NameTitleHours/wkCompensation
DAVID GREENFIELD CEO 0 $690K
PHILIP KIBEL CFO 0 $339K
ROBERT NEWMAN COO 0 $314K
ELENA SYTCHEVA TREASURER 0 $176K
board members · 2
  • ABRAHAM BIDERMAN — DIRECTOR
  • STACEY SCHEINBERG — PRESIDENT
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Targeted Affordable Housing for Seniors
    methodology: targeted-affordable-housing
    By providing subsidized housing specifically for low-income senior citizens, we reduce housing insecurity in this vulnerable group because targeted affordability removes financial barriers to stable housing.