Housing Partnership
- Assets
- $8.3m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Portsmouth, NH
- Founding
- 06/1989
- Data as of
- 12/2021
- EIN
- 02-0427331
Organization Overview
Housing Partnership is located in Portsmouth, NH. The organization was established in 1989. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Housing Partnership employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Partnership is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Housing Partnership generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE HOUSING PARTNERSHIP'S (THP) MISSION IS TO STRENGTHEN THE COMMUNITIES OF THE GREATER SEACOAST REGION OF NEW HAMPSHIRE AND SOUTHERN MAINE BY CREATING DIVERSE HOUSING OPPORTUNITIES, UTILIZING INNOVATIVE APPROACHES TO DEVELOPMENT, AND PRACTICING STRONG STEWARDSHIP OF OUR HOUSING. WE VALUE ECONOMIC SUSTAINABILITY, ECONOMIC AND SOCIAL DIVERSITY AND SMART GROWTH. BY HONORING THESE VALUES, WE CREATE HOUSING THAT STRENGTHENS THE FABRIC OF COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES - THP OWNS/OVERSEES THE PROPERTY MANAGEMENT OF 252 AFFORDABLE APARTMENTS AND 2 COMMERCIAL UNITS IN DOVER, EXETER, FARMINGTON, LEE, ROLLINSFORD, RYE, KENNEBUNK, ELIOT, AND SOUTH BERWICK.
PROPERTY DEVELOPMENT - DEVELOPMENT OF AFFORDABLE HOUSING THROUGH CONSTRUCTION OF NEW HOUSING AS WELL AS PURCHASE AND REHAB OF EXISTING HOUSING.
HOMEWARD BOUND - A FREE AND COMMUNITY-BASED COMPREHENSIVE HOMEBUYER EDUCTION PROGRAM OFFER IN THE SEACOAST REGION OF NEW HAMPSHIRE. IT IS THE ONLY HUD-CERTIFIED HOMEBUYER EDUCATION PROGRAM OFFERED IN THE SEACOAST REGION. THE 8-HOUR PROGRAM TEACHES THE STEPS NECESSARY FOR SUCCESSFUL HOMEOWNERSHIP. IT PREPARES GRADUATES TO NAVIGATE THE POTENTIAL PITFALLS OF THE HOME BUYING PROCESS. GRAUDATES GAIN ACCESS TO TRANSITIONAL BANK FINANCING, AS WELL AS SATISFYING THE REQUIREMENTS OF MANY INCOME-RESTRICTED LOAN PROGRAMS. THE PROGRAM ALSO OFFERS TIPS ON ESTABLISHING AND SAVING FOR A DOWN PAYMENT, IMPROVING CREDIT SCORE, SHOPPING FOR A HOME, SECURING A MORTGAGE, GETTING A HOME INSPECTION, CLOSING THE SALE AND KEEPING A HOME AND MANAGING FINANCES. IN ADDITION, THE PROGRAM OFFERS APPOINTMENTS FOR INDIVIDUAL COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marty Chapman Executive Director | Officer | 37.5 | $158,197 |
Philip Cohen Treasurer | Officer | 1 | $0 |
Jeff Gilbert President | Officer | 1 | $0 |
Raymond H Weaving Vice President | Officer | 1 | $0 |
Ryan J Bishop Director | Trustee | 1 | $0 |
Joseph Galli Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,423 |
| Related organizations | $0 |
| Government grants | $106,032 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,875 |
| Noncash contributions included in lines 1a–1f | $15,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,330 |
| Total Program Service Revenue | $768,930 |
| Investment income | $340,432 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$133,559 |
| Net Gain/Loss on Asset Sales | $1,686,677 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,909,640 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $146,646 |
| Compensation of current officers, directors, key employees. | $38,376 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,408 |
| Pension plan accruals and contributions | $22,935 |
| Other employee benefits | $8,378 |
| Payroll taxes | $24,097 |
| Fees for services: Management | $44,926 |
| Fees for services: Legal | $900 |
| Fees for services: Accounting | $42,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,262 |
| Advertising and promotion | $8,052 |
| Office expenses | $22,520 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $255,809 |
| Travel | $3,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $75,403 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92,910 |
| Insurance | $30,380 |
| All other expenses | $0 |
| Total functional expenses | $1,230,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,059,104 |
| Savings and temporary cash investments | $1,195,396 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,537 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,235,552 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,504 |
| Net Land, buildings, and equipment | $840,317 |
| Investments—publicly traded securities | $537,693 |
| Investments—other securities | $0 |
| Investments—program-related | $1,129,279 |
| Intangible assets | $26,237 |
| Other assets | $2,247,002 |
| Total assets | $8,324,621 |
| Accounts payable and accrued expenses | $395,715 |
| Grants payable | $0 |
| Deferred revenue | $2,709 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,793,284 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $151,014 |
| Total liabilities | $3,342,722 |
| Net assets without donor restrictions | $4,832,841 |
| Net assets with donor restrictions | $149,058 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,324,621 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Housing Partnership has recieved totaling $59,500.
| Awarding Organization | Amount |
|---|---|
New Hampshire Charitable Foundation Concord, NH PURPOSE: For general support and rent relief | $52,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Avesta Housing Management Corporation Portland, ME | $3,765,380 | $8,258,375 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |