Second Farms Neighborhood Housing Development Fund Inc is located in Garden City, NY. The organization was established in 2008. 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. Second Farms Neighborhood Housing Development Fund 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, Second Farms Neighborhood Housing Development Fund Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $341.5k during the year ending 06/2022. While expenses have increased by 4.4% 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
TO ACT AS CO-DEVELOPER, FACILITATE, PARTICIPATE, AND ASSIST THE DEVELOPER IN THE REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS, AND RELATED ACCESSORY SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACT AS CO-DEVELOPER, FACILITATE, PARTICIPATE, AND ASSIST THE DEVELOPER IN THE REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING PROJECTS, AND RELATED ACCESSORY SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Monsignor Kevin Sullivan President / Director | OfficerTrustee | 3 | $0 |
George Horton Treasurer / Director | OfficerTrustee | 3 | $0 |
Reverend Eric Cruz Director | Trustee | 3 | $0 |
David Brown Director | Trustee | 3 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $244,165 |
Government grants | $0 |
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 | $244,165 |
Total Program Service Revenue | $0 |
Investment income | $1,117,154 |
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 | $1,361,319 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $289,383 |
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 | $6,000 |
Fees for services: Legal | $8,121 |
Fees for services: Accounting | $9,700 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $25 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $27,500 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $794 |
Total functional expenses | $341,523 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $809,952 |
Savings and temporary cash investments | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $33,710,562 |
Total assets | $34,520,514 |
Accounts payable and accrued expenses | $62,734 |
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 | $662,590 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,932,908 |
Total liabilities | $2,658,232 |
Net assets without donor restrictions | $31,862,282 |
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 | $34,520,514 |
Over the last fiscal year, Second Farms Neighborhood Housing Development Fund Inc has awarded $289,383 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
SECOND FARMS AFFORDABLE LLC CO ASSOC OF NEW YORK CATHOLIC HOME INC PURPOSE: FACILITATE AND ASSIST THE DEVELOPER IN THE REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING | $216,883 |
New York, NY PURPOSE: TO FURTHER THE ORGANIZATION'S CHARITABLE AND EDUCATIONAL PURPOSES BY PROVIDING GRANT/ESSENTIAL SERVICES TO THE LOW INCOME CHILDREN OF THE SECOND FARMS NEIGHBORHOOD. | $72,500 |
Over the last fiscal year, we have identified 1 grants that Second Farms Neighborhood Housing Development Fund Inc has recieved totaling $24,113.
Awarding Organization | Amount |
---|---|
New York Institute For Human Development Inc New York, NY PURPOSE: GRANT TO ENABLE THE HDFC TO PAY FOR ARCHITECT, ENVIRONMENTAL, AND FINANCIAL FEES | $24,113 |
Organization Name | Assets | Revenue |
---|---|---|
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Doe Fund Inc New York, NY | $135,128,444 | $76,076,390 |
First Chinese Presbyterian Community Affairs Home Attendant C New York, NY | $26,741,134 | $40,973,137 |
Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Community Options New York Inc Princeton, NJ | $30,057,554 | $34,330,215 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |