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LER HOUSING DEVELOPMENT FUND CORP
NEW YORK, NY · EIN 134032452 · Form 990 · FY2024 · NTEE L20 · Housing & Shelter · Small ($100K-$1M)
revenue
$277K
expenses
$383K
net assets
$-128K
employees
0
program ratio
98%
mission · from form 990

THIS CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME AND NEEDY, PURSUANT TO SECTION 573 OF ARTICLE XI OF THE PHFL

profile · synthesized from sources

LER Housing Development Fund Corp is a nonprofit organization based in New York dedicated to developing affordable housing projects for low-income and needy individuals. Established under Section 573 of Article XI of the Public Housing Finance Law, the corporation focuses exclusively on creating non-profit housing solutions to serve economically disadvantaged populations in New York.

named programs · 1 · from sources

What they call their work

Affordable Housing Development
Development of non-profit housing projects for low-income and needy individuals in accordance with Section 573 of Article XI of the PHFL
activities · 1 group

What they do

  • Affordable Housing Development and Management 1 activity
    • Develops housing projects for low-income and needy individuals
      Plans and constructs housing developments specifically targeted to low-income and economically disadvantaged populations on a nonprofit basis.
financials · form 990 · fy2024
revenue
Total revenue$277K
Contributions & grants$00%
Program service revenue$277K100%
Investment income$00%
Other revenue$0
expenses
Total expenses$383K
Program expenses98%
Admin / overhead2%
Fundraising0%
Salaries & benefits$65K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$978K
Cash$73K
Investments$0
Liabilities$1.11M
Net assets$-128K
Liquid reserves2.3 mo
4 years on record · 2020–2024 · YoY revenue -26.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 4
NameTitleHours/wkCompensation
RAUL RUSSI PRESIDENT — $998K
LYMARIS ALBORS CEO — $893K
JOSE R RODRIGUEZ CLO/EXEC VP — $593K
VICKY GATELL CFO — $489K
board members · 5
  • ARNIE SEGARRA — MEMBER
  • CARMEN S MALERO — VICE CHAIR
  • ELIEZER RODRIGUEZ ESQ — CHAIR
  • GILBERT HERNANDEZ — SECRETARY
  • MARYBETH HOTALING — TREASURER
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.