Organizations Filed Purposes:
THE PURPOSE IS TO FACILITATE THE BORROWINGS RELATED TO A NEW MARKETS TAX CREDIT TRANSACTION TO FINANCE THE DEVELOPMENT AND CONSTRUCTION OF A HEALTH CENTER FOR THE JOSEPH P. ADDABBO FAMILY HEALTH CENTER, INC. IN QUEENS, NEW YORK.
THE ORGANIZATIONS SOLE PURPOSE IS TO FACILITATE THE BORROWINGS RELATED TO NEW MARKETS TAX CREDIT FINANCING TO FUND THE DEVELOPMENT AND CONSTRUCTION OF A HEALTH CENTER FOR THE JOSEPH P. ADDABBO FAMILY HEALTH CENTER, INC. IN QUEENS, NEW YORK. DURING THE YEAR, APPROXIMATELY $7.2M OF CAPITALIZED CONSTRUCTION COSTS WERE INCURRED. IN ACCORDANCE WITH THE VARIOUS NMTC LOAN AGREEMENTS, NO REPAYMENTS OF PRINCIPAL WAS REQUIRED TO BE MADE IN 2019, HOWEVER, INTEREST EXPENSE ON THOSE LOANS WAS INCURRED. A PORTION OF THE CASH INTEREST PAYEMNTS WAS EXPENSED AND RECOGNIZED AS PROGRAM EXPENDITURES. AT DECEMBER 31, 2019, THE PROJECT IS STILL UNDER CONSTRUCTION, ANTICIPATED COMPLETION DATE FOR THE ENTIRE PROJECT IS SPRING 2021.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Tom H Nelson | DIRECTOR | 1 | $0 |
| Phil Goldfedet | PRESIDENT | 1 | $0 |
| Patricia Simon | SECRETARY | 1 | $0 |
| Marjorie J Hill Phd | OUTGIONG DIRECTOR/CEO | 1 | $0 |
| Dr Miriam Y Vega | DIRECTOR/CEO | 1 | $0 |
| Dr Alphonso Wyatt | DIRECTOR | 1 | $0 |
| Betty Leon | TREASURER | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202033169349302903_public.xml