Progress Of Peoples Management Corp
- Assets
- $5.9m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 165
- Location
- Brooklyn, NY
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 11-2555060
Organization Overview
Progress Of Peoples Management Corp is located in Brooklyn, NY. The organization was established in 1946. 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 06/2021, Progress Of Peoples Management Corp employed 165 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Progress Of Peoples Management 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 06/2021, Progress Of Peoples Management Corp generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $2.1m during the year ending 06/2021. While expenses have increased by 4.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MANAGEMENT & OTHER RELATED SERVICES TO LOW-INCOME HOUSING PROJECTS IN BROOKLYN, NY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT AND OPERATIONAL SERVICES SUCH AS CUSTODIAL SERVICES ARE PROVIDED TO LOW-INCOME HOUSING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley Celius Senior VP | 35 | $164,678 | |
Louis Heneghan Director Of Security | 35 | $129,750 | |
Joanna Roselli Controller | 3 | $123,170 | |
Emmie Glynn Ryan Executive Secretary | OfficerTrustee | 0.2 | $0 |
Rev Msgr Alfred P Lopinto CEO | OfficerTrustee | 0.2 | $0 |
Very Rev Patrick Keating Deputy CEO | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,819,755 |
| 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 | $1,819,755 |
| Total Program Service Revenue | $2,690,818 |
| Investment income | $2,869 |
| 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 | $4,538,530 |
| 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 | $732,308 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $261,982 |
| Payroll taxes | $55,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,799 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $400 |
| Office expenses | $36,593 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,076 |
| Travel | $20,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,170 |
| Interest | $16,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,134 |
| Insurance | $11,300 |
| All other expenses | $0 |
| Total functional expenses | $2,091,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,562,506 |
| Savings and temporary cash investments | $815,538 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $97,651 |
| Net Land, buildings, and equipment | $6,901 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $463,552 |
| Total assets | $5,946,148 |
| Accounts payable and accrued expenses | $133,823 |
| 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 | $0 |
| Other liabilities | $208,004 |
| Total liabilities | $341,827 |
| Net assets without donor restrictions | $5,604,321 |
| 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 | $5,946,148 |
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