Metropolitan Boston Housing Partnership Inc
- Assets
- $59.9m
- Revenue
- $359.4m
- Investments
- $348.8k
- Employees
- 220
- Location
- Boston, MA
- Founding
- 05/1983
- Data as of
- 06/2024
- EIN
- 04-2775991
Organization Overview
Metropolitan Boston Housing Partnership Inc is located in Boston, MA. The organization was established in 1983. 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 06/2024, Metropolitan Boston Housing Partnership Inc employed 220 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Boston Housing Partnership Inc 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, Metropolitan Boston Housing Partnership Inc generated $359.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $353.4m during the year ending 06/2024. While expenses have increased by 11.2% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
METRO HOUSING BOSTON MOBILIZES WIDE-RANGING RESOURCES TO PROVIDE INNOVATIVE AND PERSONALIZED SERVICES THAT LEAD FAMILIES AND INDIVIDUALS TO HOUSING STABILITY, ECONOMIC SECURITY, AND AN IMPROVED QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL HOUSING ASSISTANCE - FEDERAL AND STATE FUNDED HOUSING VOUCHERS AND OTHER SUBSIDY PROGRAMS THAT SERVED MORE THAN 12,550 DISABLED, ELDERLY, FORMERLY HOMELESS, AND OTHER INDIVIDUALS AND FAMILIES IN BOSTON AND 31 SURROUNDING COMMUNITIES. METRO HOUSING BOSTON'S TARGET POPULATION CONSISTS OF HOUSEHOLDS WITH LOW- AND MODERATE-INCOMES WHO FACE A VARIETY OF BARRIERS TO HOUSING. FINANCIAL DEMOGRAPHICS FOR INDIVIDUALS RECEIVING METRO HOUSING SERVICES UNDER ALL THE FEDERAL AND STATE RENTAL ASSISTANCE PROGRAMS RESPECTIVELY, ARE: 70% & 79% UNDER $30,000, 13% AND 10% AT $30,001-$45,000, 8% & 6% AT $45,001-$60,000, AND 8% & 4% OVER $60,000; AVERAGE ANNUAL INCOME FOR OUR FEDERAL HOUSEHOLDS IS $26,530 AND STATE HOUSEHOLDS IS $19,730. ADDITIONALLY, 64% OF THE FEDERAL PROGRAMS AND 42% OF STATE HOUSEHOLDS HAVE CHILDREN UNDER THE AGE OF 18, 45% OF THE FEDERAL PROGRAMS AND 52% OF THE STATE PROGRAMS THE HEADS OF HOUSEHOLDS ARE PERSONS WITH A DISABILITY AND 31% OF THE FEDERAL PROGRAMS AND 21% OF THE STATE PROGRAMS HOUSEHOLDS HAVE A HEAD OF HOUSEHOLD THAT IS ELDERLY. FINANCIAL ASSISTANCE PROGRAMS IN FY24 INCLUDED THE ADMINISTRATION OF THREE MAJOR PROGRAMS; DISTRIBUTING $3,492,171 IN IN CITY OF BOSTON EMERGENCY RENTAL RELIEF PROGRAMS WHICH SERVED 1,255 HOUSEHOLDS AND $30,773,735 FOR THE COMMONWEALTH OF MASSACHUSETTS RESIDENTIAL ASSISTANCE FOR FAMILIES IN TRANSITION (RAFT) SERVING 7,735 HOUSEHOLDS AND $7,067,882 AND IN THE COMMONWEALTH'S EMERGENCY RENTAL ASSISTANCE PAYMENT (ERAP) FUNDS TO ASSIST 1,843 HOUSEHOLDS.
METRO HOUSING'S APPROACH IS "HOUSING FIRST, NOT HOUSING ONLY." THE HOUSING SUPPORTS PROGRAMS OFFER A CONTINUUM OF SERVICES FROM INFORMATION AND REFERRAL TO IN-DEPTH INDIVIDUALIZED CASE MANAGEMENT, INTENSIVE HOUSING SEARCH, EVICTION PREVENTION EDUCATION, SERVICES, AND RESOURCES THAT ADDRESS THE BARRIERS THAT MAKE IT DIFFICULT TO FIND OR MAINTAIN A HOME. THROUGH THE HOMEBASE PROGRAM, 298 FAMILIES RECEIVED STABILIZATION ASSISTANCE.
OFFICE DEVELOPMENT OPERATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nader Acevedo Director | Trustee | 1 | $0 |
Kevin Boyle Director | Trustee | 1 | $0 |
Susanne Cameron Director | Trustee | 1 | $0 |
Yongmei Chen Director | Trustee | 1 | $0 |
Whitney Demetrius Director | Trustee | 1 | $0 |
Jason Korb Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carasoft Equifax Social Service Verifications | 6/29/24 | $180,406 |
Nan Mckay & Associates Inc Business Consulting | 6/29/24 | $226,601 |
Aj Williams Events Events Services | 6/29/24 | $123,596 |
The Neighborhood Developers Non-profit Organization | 6/29/24 | $145,171 |
Ecumenical Social Action Committee Multi-service Agency | 6/29/24 | $112,545 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $298,680 |
| Related organizations | $9,845,806 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,172,521 |
| Noncash contributions included in lines 1a–1f | $9,875,806 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,317,007 |
| Total Program Service Revenue | $347,759,151 |
| Investment income | $346,407 |
| 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 | $359,422,565 |
| 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. | $391,420 |
| Compensation of current officers, directors, key employees. | $391,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,869,641 |
| Pension plan accruals and contributions | $350,667 |
| Other employee benefits | $1,899,308 |
| Payroll taxes | $974,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,037 |
| Fees for services: Accounting | $96,949 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $642,771 |
| Advertising and promotion | $6,482 |
| Office expenses | $119,684 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $255,961 |
| Travel | $178,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $168,257 |
| Interest | $246,945 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $228,552 |
| Insurance | $192,893 |
| All other expenses | $718,508 |
| Total functional expenses | $353,353,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,802,983 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,551,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,432,844 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,554 |
| Net Land, buildings, and equipment | $8,959,732 |
| Investments—publicly traded securities | $10,858,116 |
| Investments—other securities | $348,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $902,583 |
| Total assets | $59,879,346 |
| Accounts payable and accrued expenses | $5,343,381 |
| Grants payable | $0 |
| Deferred revenue | $17,119,967 |
| Tax-exempt bond liabilities | $6,905,545 |
| 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 | $0 |
| Other liabilities | $9,623,445 |
| Total liabilities | $38,992,338 |
| Net assets without donor restrictions | $20,887,008 |
| 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 | $59,879,346 |