Westbeth Corp Housing Development Fund Company Inc is located in New York, NY. The organization was established in 1968. 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 12/2021, Westbeth Corp Housing Development Fund Company Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westbeth Corp Housing Development Fund Company 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 12/2021, Westbeth Corp Housing Development Fund Company Inc generated $10.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $12.1m during the year ending 12/2021. While expenses have increased by 5.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WESTBETH IS A HOME FOR THE ARTS AND PROVIDES AFFORDABLE LIVE/WORK SPACES TO LOW-INCOME ARTISTS IN ALL DISCIPLINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND RELATED SUPPORT SERVICES FOR ARTISTS. WESTBETH COMPRISES 384 UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME ARTISTS AND THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS' WORK SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION AND THEATRE SPACES -- AND PROVIDES SOCIAL SERVICE SUPPORT FOR AN INCREASINGLY ELDERLY POPULATION, MANY OF WHOM HAVE LIVED IN THE BUILDING SINCE THE 1970'S.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ellen Salpeter President & CEO | Officer | 35 | $254,256 |
Matthew J Russas General Manager | 35 | $125,435 | |
Todd Salley Superintendent | 40 | $108,505 | |
Joe Versace Chairman | OfficerTrustee | 3 | $0 |
Esther Robinson Vice Chair | OfficerTrustee | 3 | $0 |
Alina Lundry Treasurer | OfficerTrustee | 3 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Skyline Restoration Inc Construction | 12/30/21 | $4,187,441 |
Klairgar Inc Hvac Repair | 12/30/21 | $675,034 |
Historical Windows Of New York Inc Window Repair | 12/30/21 | $264,688 |
Elemental Architecture Llc Aparatment Renovations | 12/30/21 | $263,902 |
Rose Property Management Group Llc Managing Agent | 12/30/21 | $180,027 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $597,282 |
All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $617,282 |
Total Program Service Revenue | $9,089,410 |
Investment income | $291,492 |
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 | $10,191,211 |
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. | $352,766 |
Compensation of current officers, directors, key employees. | $210,617 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,939,762 |
Pension plan accruals and contributions | $643,119 |
Other employee benefits | $100,002 |
Payroll taxes | $143,504 |
Fees for services: Management | $430,667 |
Fees for services: Legal | $246,410 |
Fees for services: Accounting | $64,469 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $12,771 |
Fees for services: Other | $677,040 |
Advertising and promotion | $0 |
Office expenses | $194,414 |
Information technology | $20,308 |
Royalties | $0 |
Occupancy | $2,383,373 |
Travel | $458 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $85,791 |
Interest | $645,400 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,594,484 |
Insurance | $871,570 |
All other expenses | $0 |
Total functional expenses | $12,091,585 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $960,135 |
Savings and temporary cash investments | $290,576 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $508,769 |
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 | $721,600 |
Net Land, buildings, and equipment | $49,250,419 |
Investments—publicly traded securities | $9,688,418 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $23,635 |
Other assets | $945,603 |
Total assets | $62,389,155 |
Accounts payable and accrued expenses | $1,510,009 |
Grants payable | $0 |
Deferred revenue | $69,145 |
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 | $14,816,071 |
Unsecured mortgages and notes payable | $34,451,713 |
Other liabilities | $1,625,338 |
Total liabilities | $52,472,276 |
Net assets without donor restrictions | $9,901,879 |
Net assets with donor restrictions | $15,000 |
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 | $62,389,155 |
Over the last fiscal year, we have identified 1 grants that Westbeth Corp Housing Development Fund Company Inc has recieved totaling $10,000.
Awarding Organization | Amount |
---|---|
Hyde And Watson Foundation Warren Township, NJ PURPOSE: PURCHASE AND INSTALLATION OF EQUIPMENT. | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |
C-Hp Cove Inc New York, NY | $8,025,727 | $5,367,385 |