Cabrini Housing Development Fund Corporation

Organization Overview

Cabrini Housing Development Fund Corporation is located in New York, NY. The organization was established in 1946. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cabrini Housing Development Fund Corporation 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 12/2022, Cabrini Housing Development Fund Corporation generated $875.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

CABRINI HOUSING DEVELOPMENT FUND CORPORATION (HDFC) BEGAN ITS OPERATIONS IN OCTOBER 2005 TO PROVIDE AFFORDABLE HOUSING TO THE VERY LOW INCOME AND HANDICAPPED, ELDERLY POPULATION. THE GOAL: TO MAXIMIZE RESIDENTS ABILITY TO MAINTAIN THEIR INDEPENDENCE WHILE "AGING IN PLACE." THE RESIDENCE PROVIDES SECURITY, COMMUNITY, AND CONTINUITY, IMPORTANT HOUSING FEATURES FOR AGING RESIDENTS THAT OTHER HOUSING ASSISTANCE PROGRAMS MAY NOT PROVIDE. CONSISTING OF 70 ONE-BEDROOM APARTMENTS, CABRINI HDFC HOUSED 86 RESIDENTS IN 2022, OF WHICH 76 OF THE HOUSEHOLD UNITS ARE CATEGORIZED AS EXTREMELY LOW INCOME (LESS THAN $28,000). VERY LOW INCOME IN THE NYC REGION IS DEFINED AS A HOUSEHOLD WITH AN INCOME OF LESS THAN $46,700 FOR A ONE PERSON HOUSEHOLD AND $53,400 FOR A TWO PERSON HOUSEHOLD.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE SCHEDULE OCABRINI APARTMENTS IS A HUD 202 SUBSIDIZED INDEPENDENT SENIOR HOUSING FACILITY, LOCATED IN THE GRAMERCY PARK SECTION OF MANHATTAN. THE PROJECT IS SPONSORED BY CABRINI OF WESTCHESTER, A MINISTRY OF THE MISSIONARY SISTERS OF THE SACRED HEART OF JESUS. ENVISIONED IN 2000 AND OPENED IN 2005 ITS MISSION IS TO SERVE THOSE INDIVIDUALS WHOSE VERY LIMITED INCOME HAS COMPROMISED THEIR ABILITY TO FIND SAFE, ACCESSIBLE, AND AFFORDABLE HOUSING, AND TO DO SO IN A DIGNIFIED AND SUPPORTIVE ENVIRONMENT.CABRINI APARTMENTS IS COMPRISED OF 70 ONE-BEDROOM APARTMENTS AND 1 TWO BEDROOM APARTMENT FOR A LIVE-IN SUPERINTENDENT. SIX APARTMENTS ARE DESIGNED PARTICULARLY FOR THOSE WITH PHYSICAL DISABILITIES. A LARGE COMMUNITY ROOM AND KITCHEN, A LIBRARY/CONFERENCE ROOM, LAUNDRY ROOM AND GAME ROOM ARE AN INTEGRAL PART OF THE COMMUNITY. A LARGE FURNISHED AND LANDSCAPED COURTYARD AND A DECK ON THE TOP FLOOR ADD TO THE AMENITIES AVAILABLE TO ALL. OFFICE SPACE FOR STAFF OCCUPIES ONE HALL OFF A GRACIOUS LOBBY WHERE A RECEPTION AREA IS STAFFED FOR SECURITY PURPOSES. A FULL TIME MANAGER OVERSEES THE CABRINI APARTMENTS AND A TENANT COORDINATOR IS EMPLOYED WHOSE RESPONSIBILITY IS TO IDENTIFY NEEDS OF THE TENANTS, LINK SERVICES, ADVOCATE WITH THIRD PARTIES, COMPLETE MUNICIPAL APPLICATIONS FOR BENEFITS, AND COORDINATE EDUCATIONAL AND INFORMATION LECTURES RELATED TO AGING ISSUES AND OTHER SOCIAL ACTIVITIES. ALL EXPENSES OF CABRINI APARTMENTS ARE DIRECTLY RELATED TO PROVIDING SERVICES TO ACHIEVE THE GOALS OF CABRINI HDFCS MISSION.


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Board, Officers & Key Employees

Name (title)Compensation
Patricia Krasnausky
President
$0
James Migliore
Chair
$0
Sr Catherine Garry
Vice Chair
$0
James Lee ESQ
Treasurer
$0
Sr Arlene Van Dusen Msc
Secretary
$0
Donald Amoruso
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$873,540
Investment income $393
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $875,757

Peer Organizations

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1260 Housing Development Corporation
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Division Housing Corporation
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$16,618,579
Rupco Inc
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$12,849,253
Boston Tremont Housing Development Fund Corporation
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$15,029,377
New Community Corporation
Newark, NJ
$13,153,735
Housing Development Corporation Midatlantic
Lancaster, PA
$15,903,025
Rochester Management Inc
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$11,884,676
Highbridge Community Housing Development Fund Corporation
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$9,848,134
Cambridge Affordable Housing Corporation
Cambridge, MA
$10,017,577
Augustus & James Corporation
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$14,956,375
St Margarets House Housing Development Fund Corporation
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$10,355,247
Equinox Inc
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$10,375,764
New Samaritan Corporation Inc
Storrs, CT
$8,177,032
Southeast Grand St Guild Hdf Co Inc Residential Management Assoc Inc
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$10,599,055
Cambridge Community Housing Development Inc
Cambridge, MA
$7,704,327
Oub Court Housing Company Inc
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$8,421,675
Xiente
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$9,936,492
Evernorth
Burlington, VT
$9,285,260
2life Partners Inc
Brighton, MA
$16,563,108
Jerome Avenue Care For The Homeless
New York, NY
$7,843,480
Hebrew Home Housing Development Fund Co Inc
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$6,188,304
Gilman Housing Trust Inc
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$8,401,434
Fordham Bedford Housing Corp
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$8,688,426

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