Glenbrook Road Elderly Housing Corp
- Assets
- $6.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Stamford, CT
- Founding
- 10/1979
- Data as of
- 12/2023
- EIN
- 06-1031260
Organization Overview
Glenbrook Road Elderly Housing Corp is located in Stamford, CT. The organization was established in 1979. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Glenbrook Road Elderly Housing Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Glenbrook Road Elderly Housing Corp generated $1.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $997.8k during the year ending 12/2023. While expenses have increased by 6.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY PURPOSE IS TO PROVIDE LOW COST HOUSING FOR ELDERLY FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING FOR ELDERLY FAMILIES WITH LIMITED INCOME IN STAMFORD, CONNECTICUT UNDER THE SECTION 8 PROGRAM OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Gottleib President | OfficerTrustee | 1 | $0 |
Vincent Tufo Vice President/secretary/treasurer | OfficerTrustee | 1 | $0 |
Richard Ostuw Chairman | OfficerTrustee | 1 | $0 |
Ronice Latta Vice Chairwoman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Montagno Construction Construction | 12/30/20 | $562,777 |
Housing Authority Of The City Of Stamfor Management Services | 12/30/20 | $142,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $811,687 |
| 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 | $811,687 |
| Total Program Service Revenue | $227,624 |
| Investment income | $9,661 |
| 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 | $1,048,972 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $61,616 |
| Fees for services: Legal | $3,646 |
| Fees for services: Accounting | $11,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,087 |
| Advertising and promotion | $0 |
| Office expenses | $7,877 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $173,791 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $238,915 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $241,154 |
| Insurance | $62,283 |
| All other expenses | $0 |
| Total functional expenses | $997,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,026 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,357,558 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $635,602 |
| Total assets | $6,241,918 |
| Accounts payable and accrued expenses | $30,264 |
| Grants payable | $0 |
| Deferred revenue | $2,093 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,563 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,490,190 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,738 |
| Total liabilities | $8,565,848 |
| Net assets without donor restrictions | -$2,323,930 |
| 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 | $6,241,918 |