Crown Heights Residence For Adults Housing Development Fund Corp
- Assets
- $213.0k
- Revenue
- $603.9k
- Investments
- $0.0
- Employees
- 10
- Location
- Brooklyn, NY
- Founding
- 04/1994
- Data as of
- 12/2023
- EIN
- 11-3018126
Organization Overview
Crown Heights Residence For Adults Housing Development Fund Corp is located in Brooklyn, NY. The organization was established in 1994. 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 12/2023, Crown Heights Residence For Adults Housing Development Fund Corp employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crown Heights Residence For Adults Housing Development Fund 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 12/2023, Crown Heights Residence For Adults Housing Development Fund Corp generated $603.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $843.0k during the year ending 12/2023. 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
CROWN HEIGHTS RESIDENCE FOR ADULTS HOUSING DEVELOPMENT FUND CORPORATION (THE "CORPORATION") PROVIDES SINGLE ROOM DWELLING UNITS FOR HOMELESS, LOW INCOME AND NEEDY INDIVIDUALS. THROUGH ITS RESIDENCE FOR ADULTS HOUSING COMPLEX WHICH CONSISTS OF FIFTY-THREE (53) SINGLE ROOM OCCUPANCY UNITS, HOMELESS AND LOW-INCOME INDIVIDUALS ARE PROVIDED WITH WELL-MAINTAINED AND AFFORDABLE DWELLINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION HAS 53 SINGLE ROOM OCCUPANCY (SRO) UNITS AND PARTICIPATES IN THE SRO PROGRAM AS AUTHORIZED BY SECTION 441 OF THE MCKINNEY-VENTO HOMELESS ASSISTANCE ACT. ASSISTANCE PROVIDED UNDER THE SRO PROGRAM IS DESIGNED TO BRING MORE STANDARD SRO UNITS INTO THE LOCAL HOUSING SUPPLY AND TO USE THOSE UNITS TO ASSIST HOMELESS PERSONS. UNDER THE PROGRAM, THE CORPORATION REHABILITATED IN 1994, THEN CONTINUOUSLY MAINTAINS ITS 53-UNIT COMPLEX AND MAKES THESE UNITS AVAILABLE FOR HOMELESS AND NEEDY INDIVIDUALS. THE TENANTS ARE ELIGIBLE TO RECEIVE SECTION 8 RENTAL ASSISTANCE PAYMENTS. ELIGIBILITY IS DETERMINED BY THE NYC DEPARTMENT OF HOMELESS SERVICES; AND RENTAL ASSISTANCE PAYMENTS ARE MADE ON BEHALF OF HOMELESS INDIVIDUALS WHO RENT THE REHABILITATED DWELLINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Val Henry Executive Di | Officer | 1 | $0 |
Charles Thomas Chairman | OfficerTrustee | 0.25 | $0 |
Alecia D Mason Vice Chairma | OfficerTrustee | 0.25 | $0 |
Cory Sargeant Treasurer Pr | OfficerTrustee | 0.25 | $0 |
C Allyson Franklin ESQ Member | Trustee | 0.25 | $0 |
Mildred Smith Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,497 |
| 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 | $151,497 |
| Total Program Service Revenue | $450,539 |
| Investment income | $0 |
| 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 | $603,931 |
| 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 | $317,503 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,717 |
| Payroll taxes | $26,844 |
| Fees for services: Management | $33,414 |
| Fees for services: Legal | $64,810 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,132 |
| Advertising and promotion | $0 |
| Office expenses | $14,538 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101,612 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,037 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,175 |
| Insurance | $53,257 |
| All other expenses | $17,440 |
| Total functional expenses | $842,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,893 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,501 |
| Accounts receivable, net | $80,685 |
| 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 | $20,608 |
| Net Land, buildings, and equipment | $53,741 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,527 |
| Total assets | $212,955 |
| Accounts payable and accrued expenses | $220,843 |
| Grants payable | $0 |
| Deferred revenue | $90,668 |
| 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 | $2,118,700 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $356,963 |
| Total liabilities | $2,787,174 |
| Net assets without donor restrictions | -$2,574,219 |
| 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 | $212,955 |