Project Renewal Inc
- Assets
- $69.3m
- Revenue
- $114.1m
- Investments
- $0.0
- Employees
- 1,251
- Location
- New York, NY
- Founding
- 04/1968
- Data as of
- 06/2022
- EIN
- 13-2602882
Organization Overview
Project Renewal Inc is located in New York, NY. The organization was established in 1968. According to its NTEE Classification (F30) the organization is classified as: Mental Health Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 06/2022, Project Renewal Inc employed 1,251 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Renewal 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 06/2022, Project Renewal Inc generated $114.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $108.3m during the year ending 06/2022. While expenses have increased by 7.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES ACCESSIBLE FACILITES IN NEW YORK CITY THAT OFFER MEDICAL, EMPLOYMENT, HOUSING, AND COMMUNITY OUTREACH SERVICES TO HOMELESS AND FORMERLY HOMELESS PEOPLE SUFFERING FROM MENTAL ILLNESS, ALCOHOLISM, AND SUBSTANCE ABUSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TREATMENT AND TRANSITIONAL HOUSING - THE ORGANIZATION PROVIDES TEMPORARY HOUSING WITH ON-SITE TREATMENT AND REHABILITATION SERVICES FOR THE HOMELESS, MENTALLY ILL AND INDIVIDUALS WITH SUBSTANCE ABUSE PROBLEMS. IN 2022, PROJECT RENEWAL, INC. PROVIDED SERVICES TO THOUSANDS OF NEW YORKERS, INCLUDING ADULTS, CHILDREN, OLDER ADULTS, VETERANS, AND LGBTQ+ YOUNG ADULTS.
EMPLOYMENT SERVICES AND OUTREACH - PROVIDED EDUCATION AND VOCATIONAL ASSESSMENT TRAINING, JOB PLACEMENT RETENTION SERVICES. EIGHT HUNDRED FORTEEN RECEIVED VOCATIONS TRAINING AND JOB PLACEMENT SERVICES. OVER ONE MILLION AND TWO HUNDRED THOUSAND MEALS SERVED BY OUR CITY BEET KITCHENS CATERING COMPANY, WHICH FEEDS MORE HOMELESS NEW YORKERS THAN ANY OTHER ORGANIZATION.
MEDICAL SERVICES - THE ORGANIZATION OPERATES PRIMARY CARE MEDICAL CLINICS SERVING HOMELESS, MENTALLY ILL AND SUBSTANCE ABUSE POPULATION. MANY PATIENTS ENTER THE ORGANIZATION'S HEALTH CARE PROGRAMS THROUGH INTERVENTION BY THE MOBILE PSYCHIATRIC AND MEDICAL TEAMS. THE PROGRAM HAS CONTINUITY OF CARE FOR EIGHT THOUSAND AND ONE HUNDRED TWELVE RECEIVED SUBSTANCE USE DISORDER TREATMENT, MEDICAL CARE OR PSYCHIATRIC SERVICES.
PERMANENT HOUSING AND PERMANENT HOMES - THE ORGANIZATION OPERATES INDEPENDENT RESIDENTIAL LIVING ON-SITE SUPPORTIVE SERVICES FOR MENTALLY ILL INDIVIDUALS SUFFERING WITH HIV/AIDS AND PEOPLE WITH SUBSTANCE ABUSE PROBLEMS. COMMUNITY OUTREACH SERVICES ARE PROVIDED TO INDIVIDUALS IN SHELTER, DROP-IN SHELTERS AND ON THE STREET. MOBILE PSYCHIATRIC AND MEDICAL TEAMS REACH HOMELESS MEN AND WOMEN TO CONNECT THEM INTO TREATMENT PROGRAMS WHERE CLIENTS RECOVER THEIR HEALTH AND LEARN TO MANAGE THEIR MENTAL ILLNESS AND SOBRIETY. SOCIAL SERVICES ARE ALSO PROVIDED TO CONNECT THE HOMELESS, MENTALLY ILL, SUBSTANCE ABUSE AND DUALLY DIANOSED INDIVIDUALS WITH APPROPRIATE MEDICAL, EMPLOYMENT AND HOUSING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Belzer Trustee | Trustee | 0.8 | $0 |
Carl Rosoff Trustee | Trustee | 0.8 | $0 |
Claudia Rosen Trustee | Trustee | 0.8 | $0 |
Colleen Cavanaugh Secretary | Trustee | 0.8 | $0 |
Eric Fry Co-Treasurer | Trustee | 0.8 | $0 |
Gail Weiss Trustee | Trustee | 0.8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marks Paneth Llp Auditing Services | 6/29/22 | $151,977 |
Winfield Security Security Services | 6/29/22 | $4,741,035 |
Arrow Security Security Services | 6/29/22 | $7,725,677 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,340,499 |
| Related organizations | $0 |
| Government grants | $94,961,569 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,317,397 |
| Noncash contributions included in lines 1a–1f | $20,476 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,619,465 |
| Total Program Service Revenue | $12,743,410 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,000 |
| Net Gain/Loss on Asset Sales | $451 |
| Net Income from Fundraising Events | $43,880 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,099,875 |
| 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. | $1,639,223 |
| Compensation of current officers, directors, key employees. | $1,199,065 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,568,410 |
| Pension plan accruals and contributions | $358,636 |
| Other employee benefits | $5,470,112 |
| Payroll taxes | $4,642,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $251,175 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $82,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,599,237 |
| Advertising and promotion | $0 |
| Office expenses | $3,425,617 |
| Information technology | $375,888 |
| Royalties | $0 |
| Occupancy | $16,523,051 |
| Travel | $256,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $612,726 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,701,294 |
| Insurance | $2,874,120 |
| All other expenses | $1,234,087 |
| Total functional expenses | $108,332,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,966,374 |
| Savings and temporary cash investments | $48,007 |
| Pledges and grants receivable | $1,021,559 |
| Accounts receivable, net | $34,125,686 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $999,055 |
| Net Land, buildings, and equipment | $7,816,692 |
| Investments—publicly traded securities | $160,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,660,174 |
| Total assets | $69,297,765 |
| Accounts payable and accrued expenses | $15,583,802 |
| Grants payable | $0 |
| Deferred revenue | $17,821,850 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $62,130 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,620,000 |
| Unsecured mortgages and notes payable | $1,292,835 |
| Other liabilities | $10,557,799 |
| Total liabilities | $57,938,416 |
| Net assets without donor restrictions | $7,221,764 |
| Net assets with donor restrictions | $4,137,585 |
| 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 | $69,297,765 |