Berkshire Housing Development Corp
- Assets
- $8.3m
- Revenue
- $3.7m
- Investments
- $44.0k
- Employees
- 90
- Location
- Pittsfield, MA
- Founding
- 11/2015
- Data as of
- 06/2024
- EIN
- 04-2483322
Organization Overview
Berkshire Housing Development Corp is located in Pittsfield, MA. The organization was established in 2015. 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. As of 06/2024, Berkshire Housing Development Corp employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berkshire Housing Development Corp 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 06/2024, Berkshire Housing Development Corp generated $3.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $3.5m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND OPERATION OF HOUSING AND COMMUNITY DEVELOPMENT PROJECTS AND PROGRAMS THAT BENEFIT LOW AND MODERATE INCOME PEOPLE. MOST SIGNIFICANT CURRENT ACTIVITIES ARE DEVELOPING AFFORDABLE HOUSING, ADMINISTERING THE SECTION 8 HCV PROGRAM, ADMINISTERING HOUSING ASSISTANCE PROGRAMS INCLUDING RAFT, HOMEBASE AND NEIGHBOR TO NEIGHBOR AND OPERATING THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BERKSHIRE HOUSING ADMINISTERS THE SECTION 8 HOUSING CHOICE VOUCHER AND SECTION 8 MOD REHAB RENTAL ASSISTANCE PROGRAMS IN BERKSHIRE COUNTY UNDER CONTRACT WITH DHCD. SECTION 8 RENTAL VOUCHERS PROVIDE RENT SUBSIDIES TO MORE THAN 570 LOW-INCOME FAMILIES WHO RESIDE IN PRIVATELY OWNED HOUSING THROUGHOUT THE COUNTY. THE SECTION 8 MOD REHAB ARE PROJECT BASED RENT SUBSIDIES ATTACHED TO SPECIFIC APARTMENTS LOCATED IN PRIVATELY OWNED BUILDINGS IN PITTSFIELD, MASSACHUSETTS.
HCEC - THE HOUSING CONSUMER EDUCATION CENTER SERVES AS A SINGLE SOURCE OF INFORMATION, REFERRALS AND SERVICES FOR ANYONE WITH A HOUSING RELATED ISSUE. TENANTS, LANDLORDS, PROSPECTIVE BUYERS, AND HOMEOWNERS CAN ACCESS INFORMATION DESIGNED TO MAXIMIZE HOUSING STABILITY, STRENGTHEN INVESTMENTS, AND MINIMIZE DISPUTES. THROUGH OUR PROGRAMS AND SUPPORTS, WE STRIVE TO PREVENT HOMELESSNESS, FOSTER ECONOMIC SELF-SUFFICIENCY, AND ENSURE HOUSING STABILITY FOR EVERYONE IN THE BERKSHIRE COUNTY AREA.
OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Peltier President | Officer | 40 | $204,000 |
Michael Denton Director | Trustee | 0 | $0 |
Michael Barbieri Vice Chairman | OfficerTrustee | 0 | $0 |
Matt Emprimo Director | Trustee | 0 | $0 |
Shaun Mahoney Director | Trustee | 0 | $0 |
Michael Wynn Director | Trustee | 0 | $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 | $150,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,000 |
| Total Program Service Revenue | $3,575,565 |
| Investment income | $18,807 |
| 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 | $3,744,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $550,000 |
| 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. | $204,000 |
| Compensation of current officers, directors, key employees. | $28,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,476,445 |
| Pension plan accruals and contributions | $63,255 |
| Other employee benefits | $193,114 |
| Payroll taxes | $125,945 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,261 |
| Fees for services: Accounting | $30,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,430 |
| Office expenses | $61,362 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,661 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,402 |
| Interest | $4,879 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,789 |
| Insurance | $38,896 |
| All other expenses | $45,811 |
| Total functional expenses | $3,487,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,595,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,177,209 |
| Loans from Officers, Directors, or Controlling Persons | $3,960,113 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,847 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $87,168 |
| Net Land, buildings, and equipment | $21,667 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $44,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $378,229 |
| Total assets | $8,274,911 |
| Accounts payable and accrued expenses | $136,968 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $243,925 |
| Other liabilities | $253,540 |
| Total liabilities | $634,433 |
| Net assets without donor restrictions | $7,640,478 |
| Net assets with donor restrictions | $0 |
| 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 | $8,274,911 |